Online gadget retailer Firebox wants to raise £5 million of venture capital investment to fund domestic growth and expansion in the US.

The e-tailer, which launched in the UK 10 years ago, is to take on the US after opening a fulfilment centre in Philadelphia late last year. The facility will serve the whole of the US, with next-day delivery offered to 55 million customers on the East Coast.

Managing director Christian Robinson said: “No one in our mind has set up a retail business in the US with a similar niche offer and brand voice to ours.”

He added that other toy and gadget retailers often report 10 times more sales in the US than the UK and Firebox hopes to take full advantage of this.

“The feeling is that there is a far greater propensity for US consumers to buy the sort of products we offer than in the UK,” said Robinson.

“We also see that there is European potential for the brand, but, for this year at least, we will focus on the US.”

Topics