Private equity player Freshstream is investing in My Jewellery. The clothing and jewellery brand had been looking for external investors since November in order to continue its international growth.
Further acceleration
The companies have not disclosed the size of Freshstream’s stake. However, it is known that founder Sharon Hilgers will remain on board as CEO, as will financial director Vilmar Bliekendaal. For his part, the new co-owner is bringing in two non-executive directors with tons of retail experience: Jenny de Vries, CFO of Rituals, and Glen Senk, former CEO of Urban Outfitters.
My Jewellery has around 40 stores in Belgium, Germany, France and its home market of the Netherlands, but wants to continue expanding at a rapid pace. However, this rapid expansion is putting pressure on profitability, making the search for new capital imperative. Hilgers now says she wants to further accelerate the expansion into new markets.
