Stubble & Co gets multi-million-pound investment to drive growth

Stubble & Co, which makes ultra-functional bags, has announced a new investment from Growth Partner. The fast-growing lifestyle brand has raised a “multi-million-pound” sum from the investment firm that’s backed by HomeServe Founder and Chairman Richard Harpin.

Growth Partner has taken “a significant minority stake in Stubble & Co as it continues its journey to becoming a leading global lifestyle brand”. 

The brand has achieved a CAGR of 173% over the past three years, “while continuously increasing its investment into ESG initiatives” and it says it’s “on track to achieve sales of £10 million this year”. 

Stubble & Co was founder by married couple Victoria and Ben Watkiss. Victoria formerly worked at L’Oréal and has over a decade of experience in consumer marketing, while Ben specialised in marketing and advertising risk, and supply chain consultancy. They share an interest in travel and the idea of their very practical bags developed from this with a launch in 2017 that was funded via Kickstarter.

The Roll Top product range is its bestseller but it has also more recently expanded into other products such as its Tote Bag. Prices start at £30 for a Wash Bag, rising to £185 for its Weekender XL.

The company has remained independent for the past six years and has grown its sales via its Shopify Plus e-commerce platform. Its ultimate aim is to grow beyond £100 million in annual sales. 

It also has a strong sustainability edge and last year began contributing 1% of its annual sales to approved environmental non-profits. Earlier this year it also became a Certified B Corporation.

The plan now is to look for more collaboration opportunities after it forged a partnership with Brentford FC, becoming its official bag partner for the current season that coincided with the launch of Stubble & Co’s new Kit Bag. 

Richard Harpin said of the new investment: “Ben and Victoria and the Stubble & Co team have successfully created an agile, purpose-driven brand that develops outstanding functional products which its customers love and is growing at an exceptional pace. I’m excited to share my experience and support [it as it] expands into new adjacent product categories, new sales channels and international markets as it continues to scale.”