‘It was hugely important for us to find a partner who understood the strength of the brand, the loyalty of our customers, and the opportunity ahead of us’
Alcuin has backed OddBalls.(Image: Alcuin)
Tyneside underwear brand OddBalls is set for expansion after securing backing from a London investment group.
OddBalls was set up in 2014 by former Newcastle United goalkeeper Steve Harper, one-time Newcastle Falcons rugby player Richard Metcalfe and Paul Varley, former chief executive officer of the Falcons, after the sporting friends discussed ways to raise money for men’s cancer charities, with the firm initially donating a percentage from the sale of every pair of pants to testicular cancer charities. The trio have since left as directors of the original business Oddballs Apparel Ltd.
OddBalls now has partnerships with a number of organisations like The OddBalls Foundation, Movember, Prostate UK, My Name’5 Doddie Foundation and Alzheimer’s Research UK, and a portion of every sale from those collections is donated to charity. Last year it announced that, since its launch the firm has donated over £1m to charities.
The firm is known for its brightly coloured boxers shorts and briefs, and over the years it has branched out to design, manufacture and retail underwear for both men, women and children, as well as socks, pyjamas and accessories including swimming briefs, towels, cups and hats.
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Now the firm has partnered with London-based Alcuin Capital Partners, which will support its continued expansion and long-term success.
Alcuin has highlighted the rapid-growth of OddBalls to become a digitally-enabled leader in men’s and women’s underwear, pyjamas and socks, saying it is “excited to work with the team to support continued international growth and further product expansion”.
Will Cooper, CEO of OddBalls said: “We’re incredibly proud of what OddBalls has achieved so far, and Alcuin’s investment marks an exciting next step for the business. It was hugely important for us to find a partner who understood the strength of the brand, the loyalty of our customers, and the opportunity ahead of us.
“With Alcuin’s support, we’re looking forward to accelerating our international growth and expanding our product range, while continuing to build the business in a way that stays true to what makes OddBalls special.”
Tim Wheeler, investment director, Alcuin Capital Partners, added: “The quality of the brand, strong growth momentum, and data-driven approach at OddBalls made a powerful impression from our first meeting. We are absolutely delighted to be partnering with the highly impressive team as the business continues to scale.”
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