KIDLY, the modern kids’ retailer of design-led, parent-approved products for 0-5 years, has raised a Series A round of over £4m from Hargreave Hale AIM VCT and several private investors to build on its impressive early growth.
The Series A funding will be used to expand the current product range. It will also serve to further develop the retailer’s own brand, KIDLY Label. Plus, it will help strengthen its bespoke platform and team for future growth.
KIDLY – the brainchild of James Hart (pictured top), first employee and later ecommerce director of ASOS – launched in 2016. Alongside Hargreave Hale AIM VCT, other investors include Nick Robertson, co-founder of ASOS, and Clare Nesbitt, ex-CEO of Foot Asylum.
KIDLY is on track to generate over £10 million gross revenue in the coming year.
Since the investment, KIDLY has also expanded its board. This includes Maria Hollins, joint MD of Ann Summers; previously executive product and trading director at ASOS and House of Fraser.
“We launched KIDLY to build a kids’ store for the modern-day,” says founder and CEO, James Hart. “Mindful of the customer we serve and the environment we live in, and digital from the ground up to ensure an effortless shopping experience for the new parent who is always on the move.
“This investment will help us grow our range beyond the current 3,000 options, further establish our fledgling own label, and maintain our exceptional levels of service as we scale.”
KIDLY has been thriving during the Covid-19 pandemic.
The restrictions on movement have been driving parents and relatives to seek innovative ways to entertain and educate young children from home. For the four months April to July 2020, traffic to KIDLY’s website and gross revenue increased by +160% and +205% respectively against the same period in 2019.
Hart attributes this success to the company’s ethos of effortless shopping and thoughtful product curation. Also, helpful service; he has a team of parents on live chat 16 hours a day, 365 days a year. Furthermore, he does not anticipate a slowdown in demand any time soon.
“This has been a difficult time for millions of parents, myself included. We’re proud to be sharing the load when it comes to keeping their kids occupied and stimulated.
“With families spending more time at home, our focus on effortless shopping, truly helpful customer service, and bringing together the best kids’ products, makes us perfectly placed to help families meet the demands of this ‘new normal’.”
Click here to visit the KIDLY website.
