Creating stylish safety gear for cyclists, Torch Apparel has ignited investor interest on Seedrs, securing over £87,800 for the 16.33% equity offered. The campaign is currently overfunding, having swiftly surpassed its initial goal by over 75%.
Torch Apparel focuses on stylish safety for cyclists, featuring its hugely-successful 2012 Kickstarter hit T1 helmet and upcoming FLUX backpack. Torch’s first product, the T1, pre-sold to 34 countries. Torch has already set itself apart from many cycling brands by focusing on riders’ specific needs and streamlining design to deliver versatile and original products.
Featured on BBC’s popular intellectual property blog, Dragon’s Den, UK-based Torch Apparel has enjoyed enviable media cynosure from Outside Magazine at Interbike 2012, named its “Gear of the Show,” by Entrepreneur Magazine and Men’s Journal Style Edition, when cited as one of its “100 Brilliant Companies,” and by PC Magazine, when noted as “10 Awesome Pieces of Bike Tech.” Additional accomplishments include CE approval for Torch T1 helmet, allowing for sales across international markets.
The company’s target market is currently split at 51% Male and 49% Female within the 18-45 age group, with interest gaining in other age groups. “According to NPD Group, cycling is now the biggest sporting goods market in the world. With global sales set to exceed $77 Billion by 2015 (GIA). $2.8 Billion of that is cycling accessories and apparel,” Torch’s campaign materials state. “With Europeans buying more bicycles than cars (Bike Europe, European Automobile Manufacturers Association), we think Torch Europe sits in a great position to become a market leading company with our lit apparel and accessories for cycling.”
The Torch Apparel team is lead by Torch Apparel Founder and CEO Nathan Wills, a Transportation Design at Art Center College of Design grad and Designer Co-Founder at Brandon + Bradley. “As a cyclist himself, Wills created Torch Apparel from his own experiences as an urban rider using his design skills from his automotive design background,” the campaign indicates. “Through discussions with fellow cyclists and local shop owners, he quickly found interest from other riders for this new gear. After several iterations and extensive testing he launched his idea of a bicycle helmet with integrated LED lights that project onto impact resistant polycarbonate lenses, and rechargeable batteries (the first on the market) on Kickstarter.” Wills is joined by Torch Europe President Hugh Roper who founded Wireless Data Services Ltd and worked as a Senior Vice President at Brightpoint Inc. Additional British team members include COO Jamie Wollen, CFO Colin Fisher and Accountant Lynn Conway.
According to Torch’s campaign, proceeds will be used for the following:
- Working Capital – ordering requires advance financing with Chinese manufacturing partners. We will also look to extend credit to certain reselling partners in the future.
- People – the European business will recruit dedicated sales people to engage relevant channel partners across the European region.
- Marketing – attendance at relevant exhibitions, advertising in relevant media and generating appropriate web traffic will involve a fully targeted marketing campaign for the European business. Local language websites allowing for multi-currency transactions, the development of additional web-stores on platforms like Amazon.
- Offices – Torch Europe may secure a low cost office environment on favorable commercial terms.
- Product Development – Torch Europe will assist the US business in the development of new Torch products.
Interested registered Seedrs’ investors may tap into detailed financial and marketing information as well as updates on Torch Apparel’s crowdfunding campaign.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!