Heels? Fesitvals? No Problem
Fashion footwear entrepreneurs from Hull – the WedgeWelly Family - received a whopping £65,000 investment from the formidable retail guru, Theo Paphitis, in exchange for a 25 per cent share of the business, as witnessed on Monday’s BBC Two Dragons’ Den.
WedgeWelly Ltd is the world leader in practical yet fashionable wellies for women, they are stylish, colourful and include a patented wedge heel. Every WedgeWelly is made with fashion and comfort in mind and the idea was the brainchild of company directors Mike and Sarah Longthorn and Laura Booth. All visited the V Festival together two years ago and decided that a 2½ inch heel provided the precise comfort and elevation needed to enjoy a field-based event.
The company obtained a Design Registration for Europe and UK Trademark, which means that they have design rights to the wedge feature in welly-style boots.
Theo Paphitis said, “I found the enthusiastic team at WedgeWelly an inspiration and believe that the business has great potential. When making an investment, the people are more important than the product. The great benefit in this case is that they also have a very exciting product that is well-designed to be both practical and stylish.”
Each design of boot has been rigorously road tested and has received critical acclaim from fashion conscious festival goers nationwide who want colourful style combined with comfort. The WedgeWelly boot is the company’s flagship product and comes in two styles – WedgeWelly Unique (the standard fit boot) and WedgeWelly Curve (offering a wider fitting).
The WedgeWelly Family impressed all five Dragons but it was Theo’s deal that won. Sarah Longthorn, WedgeWelly’s Managing Director (a.k.a. The WISE One) said, “We were overwhelmed with the response we received from the Dragons and we are delighted to receive Theo’s offer. He was always our first choice of investor due to his comprehensive expertise in the retail arena and we consider it an honour to have him on board.”