Refined Capital Partners acquires stake in Never Fully Dressed

Contemporary womenswear brand Never Fully Dressed, founded by Lucy Aylen in 2009, has sold a stake in the business to London-based private equity and venture capital firm Refined Capital Partners.

Never Fully Dressed said in a statement that Refined Capital Partners' investment in the company marks a “new chapter” for the womenswear brand, “bringing long-term investment and strategic support,” to help the brand continue to grow.

Refined Capital Partners specialises in providing growth capital to consumer brands and retail technology companies, and recently invested 4.75 million pounds in British luxury womenswear brand The Fold London in May to accelerate its growth, and acquired a minority stake in fashion and lifestyle brand Disturbia in February to support its expansion in the US. It also owns stakes in Celtic & Co, Frugi, Kettlewell Colours, and recycled cashmere specialist Turtle Doves.

While Never Fully Dressed confirmed the investment, the financial terms and exact size of the stake were not disclosed, just that the move “invests in the future of Never Fully Dressed and our continued commitment to do better for our people and planet”.

“The things that matter most to us aren't changing,” said Never Fully Dressed in the statement. “We're still the same female-founded brand, led by the same leadership team, designing every print in-house with the same passion, creativity and attention to detail. We'll continue creating versatile, feel-good pieces that empower everybody to feel their best, while nurturing the inclusive, supportive community that's always been at the heart of who we are.”