DTM Legal’s client, Luxe Collective, have secured a £100k investment from BBC Dragon’s Den star Steven Bartlett.
Luxe Collective was founded in 2018 by brothers Ben Gallagher and Joe Gallagher in a back bedroom of their parent’s house in Liverpool. The business re-sells luxury goods for less than comparable brands, having identified a gap in the market for pre-loved designer wear.
Ben and Joe appeared together with Luxe Collective COO, Oliver Millar, on the BBC show which aired last Thursday and managed to secure offers from Deborah Meaden and fashion industry entrepreneur Touker Souleyman before opting for Steven Bartlett. They eventually negotiated hard to secure an investment of £100k for 3% of their company, after revealing they had been inspired to start their business by Bartlett’s podcast, ‘Diary of a CEO’.
Ben Gallagher said: “I think Steven Bartlett is a legend. He’s so passionate and obsessed and loves to learn and be curious. He has so much experience and sounds really excited to work with us.”
The business has generated sales revenue in excess of £8.5 million and has a huge social media presence with 534,000 followers on Instagram and 1.6 million followers on TikTok.
Edward Barnes, Head of DTM Legal’s Corporate & Commercial Team added: “The Luxe Collective guys are so enthusiastic and have already achieved so much success in such a short space of time. We are delighted to have been a part of their journey and are really looking forward to seeing how this new investment can take their business to the next level.”