The Rug Company
The artisan contemporary rug brand that expanded across the globe and worked with world leading fashion designers.
Invested 2008, exited 2015
The Rug Company was founded in 1997 by husband and wife team Christopher and Suzanne Sharp, who recognised a gap in the market for artisan quality contemporary rugs. Their first store opened in Holland Park, London in 1997 and their products are handmade and produced using traditional weaving skills in Nepal.
Having successfully grown the business to 8 stores, Chris and Suzanne Sharp felt it was time to bring in a partner to help them achieve their ambitious growth plans.
In 2008, Piper invested to help them grow out of entrepreneurial phase by expanding internationally and building a professional management team to support that expansion. Piper was actively involved in helping to develop and recruit the team, introducing a Chairman, Finance Director, and Marketing Director into the business, as well as helping to structure an appropriate sales team.
The business grew its range to more than 300 rug designs, including its own Contemporary Collection developed by the company’s in-house design team, and its Designer Collection featuring collaborations with over 30 designers from the worlds of fashion, interior design, and textiles (such as Alexander McQueen, Paul Smith, and Vivienne Westwood).
Our close involvement enabled the brand to more than double sales from £11m to £23m and expand worldwide with 12 new store openings including four owned stores in USA and franchise partners in Dubai, Mexico, Canada, Hong Kong, San Francisco, Taiwan, and Lebanon.
In 2015 we sold our stake in The Rug Company to Palamon Capital Partners.
They really understand branded businesses and the vital importance of focus, even when things are slightly less rosy. If I were to start another business I would have Piper on board.
The journey
| 1997 | Chris and Suzanne open the first store in London |
|---|---|
| 2008 | Piper invests for a significant minority stake. A new Finance Director is introduced |
| 2009 | A Chairman is introduced and a new store is opened in Miami |
| 2010 | A direct, outward bound sales model is developed. Alexander McQueen agrees to design a range of rugs |
| 2011 | Two more stores are opened in the USA and new franchises are opened in the Middle East and Canada |
| 2012 | A Marketing Director is recruited. New company owned stores open in New York and two in London. A transactional website is launched. The Rug Company are selected to design a rug for the Queen's Jubilee boat. |
| 2013 | Expansion continues with the opening of St Petersburg and Taiwan. |
| 2015 | Piper exits global luxury brand, The Rug Company |
Piper exits The Rug Company
[9 Nov 2015] - Piper, has sold its stake in The Rug Company to Palamon Capital Partners. The Rug Company is the preeminent global luxury rug brand. Under Piper’s…
Current investments
