Fast forward to the present, Bloobloom, a rising star in the designer eyewear landscape, has just unlocked an exciting new chapter. The brand has successfully raised £3 million, a significant infusion of capital intended to turbo-charge its retail expansion across the UK and Europe, while also bolstering its online presence in the US market. This is not just about numbers; it’s a pivotal moment that reflects a vibrant vision for the future of eyewear.
Bloobloom’s success is impressive, boasting over 100,000 active customers with a remarkable retention rate of 90%. This high level of customer loyalty indicates that once someone tries Bloobloom, they often become a lifelong supporter. What’s even more striking is the company’s financial trajectory, having experienced a whopping revenue growth of 2.3 times from FY23 to FY24. That’s not just growth; that’s momentum, driven by a commitment to quality and style.
At the heart of this expansion is Bloobloom’s ambition to enhance its presence in the UK. Currently, the brand has seven store locations in key areas of London—Soho, Marylebone, Covent Garden, White City, Chelsea, Shoreditch, and Canary Wharf—and they are eager to build on this solid foundation. Each of these neighborhoods brings its own unique character, making them ideal hotspots for fashion-forward shoppers.
As the co-founders, Fares and Abbas Manai, pointed out, this latest funding round isn’t just about scaling up; it signals a broader trend in the eyewear industry. The global eyewear market is not just growing; it’s booming, projected to reach a staggering $405 billion by 2023, with a compound annual growth rate (CAGR) of 8%. This indicates an ever-increasing demand for stylish and innovative eyewear, and Bloobloom is ready to meet that demand while redefining the category.
Fares and Abbas also stressed that this round of funding will empower them to enhance their technology platform continuously and maintain the outstanding service that sets them apart from the competition. They aim not only to deliver excellent products in-store but also to elevate the online shopping experience for their customers. Such a multifaceted approach fosters both convenience and satisfaction, addressing the diverse needs of their audience.
The funding round was spearheaded by Pembroke VCT, with additional support from Social Impact Enterprises. Pembroke VCT has a solid history with Bloobloom, having previously invested £2.5 million in August 2022 as part of a larger fundraising effort. Their ongoing belief in Bloobloom’s vision further establishes an air of trustworthiness around the brand.
So, what does all this mean for you, the consumer? It means you can expect Bloobloom to not only grow physically with more stores near you but also to evolve in ways that enhance your shopping experience. Whether you prefer browsing in-store or online, Bloobloom aims to provide high-quality eyewear that captures your individuality and meets your needs with each pair. As they embark on this new journey, you, too, can be part of their story—one focused on innovation, style, and community. Whether you’re a loyal customer or new to the brand, Bloobloom is set to offer an eyewear experience that’s engaging, enjoyable, and always forward-thinking.
Image Source: Bloobloom.com
