Kiely Rowan seeks funds to expand in luxury market

ORLA Kiely, whose retro stem leaf-print designs can be seen on products from handbags to Citroen cars, and husband Dermott Rowan, are seeking to raise funds for expansion amid signs wealthy consumers are regaining confidence.

Kiely Rowan designs and sells bags, clothes, accessories and bedding in 33 countries, with brand retail sales for the year to March forecast to increase 20% to £46 million (€53m), according to Rowan.

“We can grow up to 20% organically,” Rowan, who owns the company jointly with Kiely, said. “We are looking at our options”, which could include selling shares to the public, as well as “looking for a long-term partner, like a fund, with knowledge and contacts”. Money raised this way would be used as working capital and to open more stores, he said.