25 May 2012

Designcapital strengthens board

13/04/2011 Robert Tyerman

Luxury retail and fashion consultant Helen Kennedy Lambert has become a non-executive director of upmarket furniture design investor designcapital (DESC). Lambert, whose Lambert Associates group has offices in London, Milan, Paris, Florence and New York, brings a wealth of contacts in larger luxury retailers, which could help AIM-quoted  designcapital gain access to more outlets for the furniture it backs.

Lambert has paid £200,000 to buy shares at a heavily-discounted 10p in acquisitive designcapital, which suggests its developing internet procurement operation could in turn be helpful to Lambert's clients. Executive chairman Frederic Bobo has big growth plans for London-based designcapital, which halved interim losses last year to £1.2 million on turnover also halved to £2.4 million, and an association with Lambert could help achieve some of them.

Floated on AIM at 10p three years ago, designcapital shares now trade at 14p, valuing the company at £9.5 million. Though clearly speculative, they might prove a fruitful punt.    

Tags: AIM market, Furniture, Helen Kennedy Lambert, Luxury, Milan

Sector: General Financial

Companies: Designcapital

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