Music-inspired online fashion retailer EBTM, set up by one of the co-founders of internet clothing peer ASOS, has appointed experienced web operator Simon Hargreaves to its board.

After 13 profitable years at virtual network operator Vanco as finance director and now chief executive of its main operating subsidiary, Hargreaves came into contact with EBTM when it bought fashion label Lowlife, at which he was a director. During his time in office at fully listed Vanco, its market value grew fivefold to around £250 million.

EBTM chief executive Richard Breeden was predictably ‘delighted’ with his new colleague, who brings ‘a wealth of experience along with a detailed knowledge of the Lowlife business which we recently acquired’.

‘As EBTM’s core business continues to grow,’ he added, ‘we recognise the need to build our internal expertise. An important part of our continued development is to strengthen the board. Simon’s appointment is a major step in achieving this aim.’

At 5p, up 1p on its 2005 float price as E-retail, loss-making EBTM’s shares value the company at £12.4 million.