06 Dec 2012
Crave, the UK’s leading maternity clothes designer and retailer, is delighted to announce that Echelon Partners, the investment vehicle of John Lovering and his family, has agreed to provide additional capital and expertise to the fast-growing pregnancy business. Echelon is an active, long-term strategic investor in growing businesses that operate in the consumer sector. Alongside the investment, Crave will also benefit from Mr Lovering's extensive network of connections in the retail industry, both within the UK and internationally.
John Lovering is highly experienced and respected in the retail and leisure sectors, having chaired Debenhams, Homebase, Somerfield, Fired Earth, Odeon Cinemas, Fitness First, Mitchells and Butlers PLC and Laurel Pub Company over the past 25 years. He is currently Chairman of Maplin Electronics, GHD Group, and the Retail Trust.
Nick Lovering, Managing Partner of Echelon Partners, who is joining the Board of Crave, said: "We are delighted to have completed this investment in Crave. We believe that this is a fantastic brand, offering high quality and value for money, in an under-developed section of the retail market, and led by an outstanding team. We are hopeful that our funding and experience will complement the skills of the management team, and provide a foundation for an accelerated growth for the business."
Helen Worsley, MD of Crave, said: “We are thrilled that Echelon Partners has come on board to support our growth agenda and apply their unrivalled experience to Crave more generally. Their industry passion and enthusiasm for the brand came through from the start and we look forward to maximising this fantastic opportunity.”
Crave is renowned for combining luxury, style and the latest catwalk trends, to create an on-trend wardrobe for mums to-be. It is also a firm favourite amongst celebrities!