Funding. News - 29 April 2022

Derbyshire luxury nightwear brand receives £500,000 funding package

Night Store Limited, a Derbyshire-based nightwear retailer and wholesaler, has secured a £500,000 funding package from MEIF Maven Debt Finance, managed by Maven Capital Partners to expand its product range and create new job roles.

The funding will enable the business to invest in marketing to grow its digital presence online, and to purchase new stock to expand its product portfolio, as well as increasing its warehouse capacity to service its growing number of customers. Night Store also aims to strengthen its senior management team by making three key hires in the next 12 months.

Based at Whaley Bridge in the High Peaks, Night Store is a British nightwear retailer that sells direct to consumers via its own website, and wholesale via independent retailers and larger online fashion retailers such as ASOS and Next. The business sells its own-brand night products, mainly womenswear pyjamas and dressing gowns, but the management team aims to use the funding to launch a range of lingerie and men’s nightwear.

The business was founded by husband-and-wife team Daniel and Charlotte Hawthorne, who started Night Store as a side-line to their previous jobs. Charlotte began to design and source her own range of women’s nightwear to sell online, experiencing significant growth since formally launching in 2020. Charlotte is an experienced buyer in the fast fashion industry for brands like The Hut Group, I Saw It First, Boohoo and Missguided.

Daniel also has significant experience in sales, marketing, branding, and product positioning, having worked for several creative design, advertising, and media marketing companies, and with brands such as Disney, Coca-Cola, Apple, and Nike.

Daniel Hawthorne, Co-founder of Night Store, said: “We’re delighted to partner with the MEIF and Maven Capital Partners. Jonathan and the team at Maven have been incredible to work with and it’s clear they share our vision for the exciting growth plans ahead.”

Lewis Stringer, Senior Manager UKN at the British Business Bank, said: “The MEIF is here to help Midlands businesses achieve their growth potential. It is fantastic to see a Derbyshire business in the textiles sector being supported with the development of new product ranges. We encourage other businesses across the region to consider the finance options available through the MEIF.”

Will Morlidge, Interim CEO at the D2N2 Local Enterprise Partnership, said: “I’m delighted to see this investment by the Midlands Engine Investment Fund into this ambitious High Peak business. The investment will allow Night Store to maximise and accelerate commercial opportunities, supporting the economic development of our region.”

The Midlands Engine Investment Fund

The Midlands Engine Investment Fund is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East Midlands.

The MEIF is supported by the European Regional Development Fund, the European Investment Bank, Department of Business, Energy and Industrial Strategy and British Business Finance Ltd.

It provides a range of affordable financial products to small and medium-sized businesses (SME) across the D2N2 region such as Small Business Loans, Debt, Equity and Proof of Concept funds to help businesses achieve their growth ambitions.

The Midlands Engine Investment Fund provides over £250m of investment to boost SME growth in the Midlands Engine Investment Fund area. The D2N2 ERDF contribution to MEIF is £11.75m.

Latest News & Events

19 July 2024

Local business support boosted with launch of Early Stage Angel Investment Fund

Read Article

21 June 2024

Spotlight on our Board: Scott Knowles, Chief Executive, East Midlands Chamber, on the D2N2 LEP transition and East Midlands devolution

Read Article

11 June 2024

The D2N2 LEP staff team joins the East Midlands Combined County Authority (EMCCA)

Read Article

07 June 2024

Becky Rix, Marketing Director at Roadgas, explains why Roadgas is a proud member of the East Midlands Hydrogen Consortium

Read Article

05 June 2024

Spotlight on our Board: D2N2 LEP Board Member Natasha Johnson, Director of Partnerships at Global Entrepreneurs UK

Read Article

05 June 2024

Free Expert Business Advice and Support available through East Midlands Chamber’s Accelerator Programme

Read Article

03 June 2024

Spotlight on our Board: D2N2 LEP Board Member Professor Edward Peck CBE, Vice-Chancellor and President, Nottingham Trent University

Read Article

24 May 2024

Focus on the East Midlands: our time is NOW!

Read Article

24 May 2024

D2N2 LEP CEO, Will Morlidge, shares our East Midlands Hydrogen ambitions at UKREiiF

Read Article

24 May 2024

East Midlands Freeport and Freeport East Sign Green Freight Corridor Initiative at UKREiiF

Read Article

Get in touch.

Subscribe to our newsletter

Sign up
Address

D2N2 Local Enterprise Partnership
8 Experian Way
Nottingham
Nottinghamshire
NG2 1EP

Social

Our Partners