Design firm INK has secured a six-figure equity injection to strengthen its market presence in merchandise produced for major consumer brands.
The Glasgow-based company – which works with KFC, Warburtons and Cadbury – has raised £ 140,000 from Scotland-based Shancastle Investments after a period of significant growth. Income is on track to drop from £ 400,000 in 2020 to £ 600,000 for the current year, and is expected to reach £ 1million in 2022.
Originally established in 2005 by David Taylor, INK began as a side project producing t-shirts and other merchandise for artists of the Glasgow music scene. He started working with recording giant EMI in 2011, developing products for high profile groups such as Nirvana and Run-DMC.
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From there it expanded into product placement with retailers Primark and River Island, a business that Taylor said was “taking off” before lockdown restrictions that shut high street stores for a long time. part of last year. It was during this time that INK struck a deal with KFC to deign a staff hoodie as a ‘thank you’ from the fast food chain to its employees in the UK and Ireland for their efforts. during the pandemic.
The company has now launched several online consumer merchandise stores for its partner brands, offering products such as bucket hats for KFC and “crumpet slippers” for Warburtons.
“We are delighted that Shancastle is joining the INK team,” said Taylor.
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“In addition to supporting growth, the investment is absolutely aimed at ensuring that we can continue to provide our brand partners with the best possible service and support any future projects that we have lined up. We are incredibly excited about the future of the business.
Trained and graduated as an accountant at KPMG, Mr. Taylor recently left the firm to lead INK full time. He retains a 40% stake in the company, while Shancastle owns 15% of the capital.
In 2019, Glasgow-based agency D8 took a 35% stake in the company in exchange for providing INK with additional design resources.
Guy Stenhouse, Chairman of Shancastle, added: “INK is a well-run and dynamic company, a leader in its field of specialization. Shancastle is delighted to invest in INK to support its growth plans. ”