-Third successful exit in just over a year-
Pembroke VCT, the venture capital trust focused on backing early-stage businesses with exceptional founders and management teams, has sold its investment in ME+EM – the British direct-to-consumer fashion brand – achieving a return of 16x its original investment. ME+EM is Pembroke’s third successful exit in the space of fourteen months, having sold Pasta Evangelists and Plenish in January and May of last year, respectively.
Pembroke is a long-term investor in ME+EM, having first backed Clare Hornby in 2015, working alongside her and the team to help build the modern luxury fashion brand that it is today. Pembroke’s stake in the business has been sold to Highland Europe, who have invested to accelerate the brand’s international expansion in the US, Australia and the Middle East.
ME+EM appeals to consumers who prioritise higher quality purchases with sustainability credentials. The loyalty and brand satisfaction of its customers – including the Duchess of Cambridge and Claudia Winkelman – has seen ME+EM deliver triple digit growth in revenues in 2021.
ME+EM customers span the generations and have found a brand that combines function and fit with contemporary style and exceptional ethical values. Through its direct relationships with family-run factories using responsibly sourced materials, ME+EM offers the highest standard at an accessible price, whilst having transparency across its entire supply chain.
Andrew Wolfson, CEO of Pembroke Investment Managers LLP commented; “We were always impressed by Clare’s drive to create a luxury fashion brand with a strong digital presence, formed through storytelling and a seamless customer journey. Clare’s vision of enabling access to sustainable, long-lasting, contemporary luxury clothing has resulted in soaring demand in the US and other key international markets, and we look forward to seeing what’s next for ME+EM.
“It’s been a fantastic journey working with Phil Mickler, Clare Hornby and the rest of the team. We wish them all and the remaining investors great success for the future.”
Clare Hornby, founder and CEO of ME+EM added; “Thank you to Andrew and the team at Pembroke, whose support and early-stage backing was so crucial in the early days of ME+EM.”