Fashion retailer seizes chance to boost sales

INDEPENDENT fashion retailer Coggles has sold a minority stake to the venture investment arm of Pentland Group.

Coggles, based in York and London, said the deal with Manchester Square Enterprises was for a "multi-million pound" sum. It means will spend more on items by young and emerging designers and established brands.

The website is aiming to expand further into overseas markets with national and international advertising campaigns while infrastructure changes will include larger warehousing facilities and a new London office for its buying, public relations and marketing teams.

Mark Bage, chief executive and creative director, said: "I am very pleased that the investment will see us continue the planned growth of and I am extremely happy for the team who have worked very hard and who will now have the opportunity to achieve so much more."

Richard Hatfield has been appointed chief operating officer and a premium and designer brands buyer will join the board as buying director next month.

The firm's origins go back to a York market stall set up in 1974.