The New Craftsmen has closed their successful equity crowdfunding round on Crowdcube having raised £171,580 from 70 investors. This represents 6.18% equity in the young company. Organizers originally targeted a raise of £150,000. The single largest contribution was posted at £100,000.
The funding round was launched this past February. The company, founded in 2012, was created by several prominent individuals including; Mark Henderson, the former CEO of Gieves & Hawkes, Natalies Melton and Catherine Lock. Each bringing unique skills to a company designed to market and sell high quality, hand crafted products made in Great Britain. The company presently represents over 75 British makers as they look to bring together a dynamic portfolio of luxury products currently unavailable in a single location. Consumers can discover textiles, furniture, ceramics and more design oriented products created by some of the UK’s finest craftsmen.
Capital raised from their crowdfunding round will be used to expand the business and preparing a shop at a permanent location in Mayfair scheduled to open this coming May. The New Craftsmen founders estimate the addressable market sector is in excess of £883 million in England alone.
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