Herbal tea entrepreneur and founder of Charbrew, Adam Soliman has launched an equity crowdfunding campaign on Seedrs to raise £150,000 for expansion. The company is known as a specialist hot beverage brand that is “revolutionizing” the UK tea market.
According to its campaign website, Charbrew has introduced innovative fruit and herbal products designed to bolster the profitability of the company. The brand has also expanded into the soft drinks market with a range of ready-to-drink ice teas.
Manchester Evening News reported that Soliman started Charbrew in his parents’ garage five years ago and has transformed it into a company generating £450,000 in annual revenue. Not only does it have its own iced tea range, the company supplies 20 major retailers, including Tesco and Holland and Barrett, with specialty teas. The company’s product is also set to be on the shelves of 79 Waitrose stores next month.
During a recent interview, Soliman stated the funds earned from the campaign will be used to increase stock, run on-shelf promos and to continue Charbrew’s expansion in the U.S. “It’s an interesting time coming up. We are just about to launch in 530 Burlington Coat stores, an American retailer, and already sell to 2,500 in the U.S.”
“There is so much scope to go for. We have flavors including the Chocolate Orange Roobios, Strawberry and Kiwi, and Pineapple and Vanilla flavored teas plus iced teas. But we want to get all of it in Sainsbury’s and in other supermarkets and maybe start a healthy biscuit range to compliment what we already have.”
“By investing in us, people will get a third back through savings in income taxes. I want people to invest in our future growth and become brand ambassadors and to be part of our story.”
With the proceeds from the campaign, Charbrew will be able to hired an additional business development executive and one marketing executive. Along with hiring, the company will also be able to afford direct on shelf promotion and in store marketing support and international sales development.
In regards to the campaign, Soliman added, “It is an exciting time but if we don’t hit the 150,000 crowdfunding target, we don’t get [it] – it’s as simple as that.”
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