Ace & Tate eyeware focuses on expansion with €14m investment
Trendy Dutch eyewear company Ace & Tate has raised €14.25m in investment to fund its expansion across Europe.
The company reports that it has seen growth of 60% in the past two years and turned its first operational profit in 2019, with revenues of €41m. It currently has 60 stores in 10 countries, and planned to open 15 more this year.
One of its approaches is to offer internet-based sales options, such as the chance to order four frames to try on at home.
‘Shoppers are looking for more agile retail options to shop, try-on, and purchase frames, particularly now, as the Covid19 lockdown relinquishes its hold on Europe,’ said a spokeswoman. ‘Ace & Tate is aligning physical and virtual retail channels to create the best possible experience for customers.’
The new funding will also be used to invest in new and sustainable technology developments.
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