In an attempt to disrupt the entrenched forces of the sports apparel industry, Tribesports leveraged their sizable community to launch a very successful crowdfunding campaign with the goal of launching their own performance clothing brand. On a goal of raising £30,000, Tribesports closed their campaign having crowdfunded over £119,000 from more than 1800 backers. The organizers desired to bring high quality sportswear to the market with prices up to 40% lower than leading brands giving their customers more for less. Today they have announced their online shop is officially live.
“Our launch range has been developed using training data and input from our global community. Their preferences and technical requirements teamed with the knowledge and experience of our team of industry leading designers and manufacturers, has allowed us to produce a performance sportswear range that meets the needs of sportspeople everywhere”, said Tribesports President Jenna Anians.
“We will sell solely through our website and will champion real sportspeople rather than paying pros to wear our sportswear, passing the savings directly to our customers in the end-product pricing.‘
Tribesports benefited from their over 200,000 community members. Tribesports founders are all sports enthusiasts themselves and their message of making technical sportswear resonated with their community. From explaining the technology and processes involved in making sportswear, highlighting how the Tribesports business model is different, to showing how many people and how long it takes to make each product, Tribesports offers customers the full story.
Tribesports currently has over 200,000 members from 131 countries participating in over 500,000 tribes and completing over a million Challenges. The sportswear industry is estimated to be around $250 Billion annually on a global basis. Tribesports decided to offer up a pretail crowdfunding campaign as opposed to offering equity.
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