Hungarian designer fashion brand Nanushka is receiving a HUF 300 million injection in several stages from Exim Növekedési Magántőkealap, a private equity fund managed by Hungarian-owned GB & Partners Venture Capital Fund Management, the companies told Hungarian news agency MTI Tuesday.
The capital is planned to be used for raising the company’s online presence as well as boosting online sales, while Nanushka is also negotiating with a “significant international fashion industry player” on joining its management and becoming an owner, MTI cited the statement as saying.
Nanushkaʼs revenue reached almost HUF 500 mln last year, with approximately 80% of it coming from foreign sales. Products by the company are sold in more than 30 countries through almost 150 retailers.
GB & Partners manages EUR 81 million in four funds: two venture capital funds that tap funding from the European Unionʼs Jeremie program, and two private equity funds, MTI reported.
Nanushkaʼs story began in 2005, when the family enterprise was founded by fashion designer Szandra Sándor, whose childhood nickname became the name of the company.