Cult Mia, a UK luxury retail platform, secures a total of £4.5m in recent funding.
- Founded by Nina Briance, Cult Mia has grown rapidly since its inception in 2019.
- Esteemed investors like H&M Group Ventures have backed the company’s vision.
- The platform now features 1,440 brands from 42 countries, expanding its global reach.
- Investment aims to enhance growth in key markets and improve the shopping experience.
Cult Mia, an innovative UK-based luxury retail platform, has successfully secured additional seed funding, bringing its total capital raise from investors to £4.5m. This significant sum underscores the platform’s ambitious growth plans and its aim to become a prominent destination for independent luxury fashion globally.
Since its founding by former investment banker Nina Briance in 2019, Cult Mia has distinguished itself by offering a uniquely curated shopping experience. The platform hosts an impressive array of 1,440 brands sourced from 42 different countries, showcasing its extensive international reach and appeal.
Briance expressed enthusiasm about the recent investment, highlighting the confidence and support received from a prestigious group of investors, including H&M Group Ventures, Morgan Stanley, Fuel Ventures, and David Wertheimer. She stated, “We’re thrilled to receive this continued vote of confidence from such an esteemed group of investors. Cult Mia’s rapid growth and the loyalty we’ve seen from our customers and brand partners alike reaffirm our belief in our platform’s potential to become the independent luxury fashion destination for the world.”
This latest injection of funds is intended to accelerate Cult Mia’s expansion into high-growth markets such as the United States and the Middle East. Additionally, the finance will support the company’s commitment to delivering a values-driven shopping experience.
Nanna Andersen, chief of new growth and ventures at H&M Group, affirmed the firm’s decision to invest, applauding Cult Mia’s achievements. Andersen remarked, “We are delighted to invest in Cult Mia on their mission to launch independent and diverse designers from around the world. We have been incredibly impressed by all that Cult Mia has achieved in such a short space of time.”
With this substantial funding, Cult Mia is set to cement its position as a leader in the independent luxury fashion retail market.
