Mondottica International Ltd, the Nottingham-based designer and distributor of branded eyewear including Ted Baker, Cath Kidston and Benetton, has secured £14.9 million funding from Santander Corporate & Commercial to fuel its UK and international expansion plans and develop its luxury eyewear division, Brando. The funding, which includes Santander’s specialist Growth Capital loans aimed at the UK’s fastest-growing, most dynamic businesses, will also create up to 45 new jobs for the firm and its subsidiaries. Mondottica’s global headquarters are based in Hong Kong and the company has several offices and partnerships including in Paris, Barcelona, Tokyo, Delhi, Moscow, New York and Sydney, as well as the Nottingham base in the UK.
Established in 2003, Mondottica International signed its first licence with Ted Baker London. Mondottica’s founder, Michael Jardine, facilitated the deal through his connections to the owner of Ted Baker and the company continues to be Mondottica’s largest client in a current portfolio of 15 brands. Over the past 15 years, the international business has seen exceptional growth, signing deals with companies such as Hackett, Converse, Joules, Pepe Jeans, Cath Kidston and Ducati. Recent new clients include Sandro, Maje and Benetton.
Mondottica were advised by LGF Partners. A UK-based debt advisory business that provides creative debt solutions to global innovative and fast growth SME’s. David Hart, Mondottica’s Chief Operating Officer added, “The LGF team were invaluable in securing this transaction for us and they provided a consistent level of expertise, counsel and flexibility and helped us secure a deal that exceeded our initial expectations. To succeed in such transactions it is evident you need a real expert trusted business partner by your side, one who understands your business and not just a ‘finance adviser’, LGF is that real expert partner for us, providing a distinctive service.”