Marks and Spencer (M&S) has revealed it is boosting further funding into Nobody’s Child, in a bid to boost its continued growth.
The move forms part of the omnichannel retailer’s third-party brands strategy, which represents a £400 million opportunity within clothing and home.
However, according to M&S, which acquired a 27% stake in the brand, the funding follows a “pivotal trading period” for the brand after sales soared over the past two years.
The funding will facilitate stock buying to cover the increased demand from customers this season, as well as support the business to further expand in the future, the company said.
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It added the funding will also help continue to expand its presence in multiple markets including the US, Europe & UAE.
“This season, it seems that everyone is talking about Nobody’s Child. As an important part of the M&S family, we’re delighted to be able to support the brand with additional funding to unlock even more potential as they continue to grow,” M&S managing director of clothing and home Richard Price said.
“Our third-party brands are key to creating an M&S reshaped for growth and at the heart of this, is finding the right partners. As shown with Nobody’s Child, when we get these partnerships right, everyone wins.”
Nobody’s Child launched on M&S.com in 2020 and has since become one of its “top performing third party brands”, with over 340,000 customers each year.
Nobody’s Child CEO Jody Plows added: “Our partnership with M&S has gone from strength to strength, so I’m delighted that we have received additional funding to fuel our next stage of growth. This will enable us to broaden our product categories and build our customer base both in the UK and internationally.”
Image credit: M&S