Private equity investment firm Growthdeck has launched an Enterprise Investment Scheme (EIS) qualifying opportunity for high net worth individuals to invest in high fashion boutique glasses and sunglasses brand, Kirk & Kirk.

Brighton-based Kirk & Kirk produces a distinctive range of luxury glasses and sunglasses, and chief designer Karen Kirk’s designs have been worn by Elton John, Julia Roberts, U2, Oasis, Gary Oldman in the Batman films, and Prue Leith.

The company, which was founded in 2013, is seeking £1.07 million in funding.

There is currently opportunity in eyewear, as the global market amounted to $117 billion in 2017 and is expected to reach $182.4 billion by 2023.

Reflecting this increase in demand, Kirk & Kirk has increased sales by 43 percent over the year to £752,800 (31 July 2018), from £525,400 the previous year. Growthdeck has predicted that turnover will reach £1.3 million in 2019/20 and £6.8 million in 2022/23.

Growthdeck has a clear exit plan of a trade sale targeted in 2022. This target exit offers investors’ the prospect of 9.2 times their investment when initial EIS income tax relief is taken into account.

Growthdeck has previously completed successful fundraises for growth businesses including boutique gin brand Pinkster, and high-end gym chain One Rebel.

Gary Robins, Growthdeck’s head of business development, commented: “Turnover is built on sales to an extremely solid network of independent opticians who are increasingly seeking eyewear ranges that stand out to consumers. There is also significant capacity for growth in online sales which management is looking to develop.”

“The exit for this investment could be a trade sale to a competitor or to a private equity house, with any buyer likely to be attracted by the strong brand and global sales profile of Kirk & Kirk.”

Growthdeck offers equity investments in new and more established UK businesses to sophisticated and high net worth investors, with minimum investment of £5,000.