The family behind fashion retailer River Island has invested in The Hut Group. The investment is set to fund further acquisitions for the online retail group.

The Lewis family, which owns River Island, has made the investment as part of what is believed to be a £10m fund-raising ahead of The Hut Group’s IPO later this year.

As part of the investment, River Island deputy chairman Clive Lewis will join The Hut Group’s board as non-executive director.

The Lewis family join a roster of investors which includes former Marks & Spencer chief executive Sir Stuart Rose, ex Tesco boss Sir Terry Leahy and venture capital firm Balderton Capital.