Bristol-based Rollasole launched a Crowdcube equity crowdfunding campaign earlier this month to raise £150,000 for the expansion of its shoe company. Within a few weeks, the campaign reached well over its initial goal and has raised over £174,000 thanks to 87 investors.
Rollasole is dubbed a “form of rolled footwear designed to be compact enough for women to carry with them at all times.” Each pair is sold with a high heel carry bag, which offers a complete solution to women suffering from heel discomfort.
The Rollasole team stated, “Our marketing targets 18-45 year old women who are looking for a comfortable, fashionable and affordable solution to the pain of high heels. As a product solving a common problem, Rollasole have a broad spectrum of markets that eclipse traditional footwear brands.”
Sharing details about the company’s progress, the team noted, “In the past three months we have secured two of our largest contracts to date. The first is to launch as a concession brand in Debenhams which will see a minimum six month trial of our large floor standing point of sale, launched into an initial 20 stores with room to grow into 170 stores depending on its success.”
“In order to take full advantage of both of these opportunities the stock and promotional assets needs to be purchased upfront. In doing so it will dramatically expand our distribution and brand presence in the UK and US.”
Rollasole’s made already made its way to Las Vegas and has had huge success so far. During a recent interview with Insider Media, the company’s founder, Matt Horan, discussed having its products trailed by MGM Hotel Group in Sin City and its impact. “Our presence in Las Vegas has grown organically through our vending machine model.”
“We’ve always had vending machines in the UK and went over to Las Vegas after winning a contract with one of the clubs over there. We realized we were selling more in a weekend there than in a month over here. Because of the high turnover of tourists in Las Vegas, we quite literally can’t keep them on the shelves. This money will help us to buy a huge amount of stock to handle the sales volumes we’ve had over there.”
Also noting its current plans with famous brands, House of Fraser and Dorothy Perkins, Horan added, “A break into Dorothy Perks and House of Fraser aren’t confirmed, but will be based on the success of the Debenhams concession.”
The campaign is set to close on November 2nd.
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