// Kick Game secures £2.5m cash injection from investor VGC Partners.
// It enjoyed soaring online sales during the pandemic as its flagship store in Kensington remains closed
Kick Game has secured £2.5 million in funding to accelerate growth as shoppers move online in the face of high street store closures.
The London-based luxury trainers retailer said it was still bullish about its growth plans despite the coronavirus pandemic after receiving the cash injection from investor VGC Partners.
Kick Game’s flagship store in Kensington shut its doors after the government mandated lockdown was introduced in March but founder Rob Franks said its strong ecommerce business has kept trading on track.
“Our online sales have moved up a notch in the past couple of months,” he said.
“We’ve had to take stock of plans when it comes to stores but I’m still very bullish about where we are given the circumstances.
“The demand is certainly still there. Despite everything, people aren’t able to spend money going out or eating out and that means the money is still there to buy clothes and sneakers.”
The luxury trainers and apparel market has surged in recent times on the back of growing demand for limited edition products, brand collaborations and celebrity endorsements.
Trainer fanatics Rob and David Franks launched the business in 2013, which now ships to 70 countries through its fast-growing online operations.
Kick Game said it has also eyed opportunities to expand its retail portfolio across the capital but was patiently assessing plans for store openings as the pandemic shakes up customer shopping habits.
Rob Franks said luxury firms such as Kick Game could take a hit in stores as travel restrictions halt rich tourists from visiting London in the key summer period.
“We are ready to reopen as soon as we are allowed,” he said.
“But it’s just hard to predict how many people are going to be coming into the shop each day.
“We’ve previously seen plenty of business from wealthy people coming to London from abroad in the summer so that’s something you have to expect to change.”
Last year, the retailer’s total revenue jumped 47 per cent after it was boosted by growing store sales.
Kick Game said the funding boost would go towards enhancing its online platform, delivering bespoke products and expanding its current store model.
Parminder Basran, founder and managing partner at VGC Partners, will also join the retailer’s board as a director as part of the deal.
with PA Wires
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