The Edit LDN gears up for global growth with majority stake acquisition
BrandAlley, the renowned off-price e-tailer, has successfully secured a majority stake in The Edit LDN, a prominent limited edition sneaker and streetwear marketplace.
The strategic move comes as The Edit LDN enters what its founder, Moses Rashid, refers to as “phase 2.0,” marking a significant development for both entities.
Amidst a challenging financial landscape in 2023, The Edit LDN faced cash flow issues despite experiencing notable growth. In response to these challenges, the decision was made to undergo a formal restructuring under the operational umbrella of BrandAlley. Moses Rashid acknowledged the hardships faced during this period, expressing gratitude to his dedicated team and emphasising the necessity of making tough decisions to navigate the company through turbulent times.
In a statement, Rashid emphasised the importance of securing a long-term partner with the operational infrastructure required for sustainable growth. For BrandAlley, this acquisition opens avenues to tap into a younger customer demographic, while The Edit LDN gains access to a broader premium audience.
The Edit LDN, founded by entrepreneur Rashid in January 2020, initially gained investment from celebrity shareholders, including NBA veteran PJ Tucker, NFL’s Xavier McKinney, actress La La Anthony, and Premier League footballers Ollie Watkins and Jesse Lingard. Some of these investors will continue as brand ambassadors post-acquisition.
Details of the deal remain undisclosed, but Rashid affirmed his role as the Chief Executive of The Edit LDN under the BrandAlley umbrella. The company’s most recent capital raise, a £3.9 million ($5 million) seed round in January 2023, led by Regah Ventures, aimed to fuel international expansion. The Edit LDN also announced a groundbreaking partnership with the NBA’s Chicago Bulls during this period.