Vulpine, a UK-based cycling clothing brand, has recently launched an equity crowdfunding campaign on Crowdcube with a mission to raise £500,000 for product and international expansion.
The company, which was started in 2012 by cyclist Nick Hussey, is hoping to change the way cycling clothing is made:
“We are a style brand, adapting proven classics rather than trying to offer the fashion items of the season. Vulpine is about attention to detail, quality and innovation. Everything we do comes from an intense focus on and passion for cycling. We aim to grow principally via our website but also through partnerships with key retailers.
“Over time the potential is for Vulpine to become a major international lifestyle brand, just as The North Face did for mountaineering, LuLuLemon for yoga, and Billabong/Rip Curl for surfing, but everything we make should always work superbly for cycling.”
70% of Vulpine’s revenue is from its website and it is in 88 retail locations, mostly in the UK. The brand’s signature product is the Harrington Rain Jacket, which is described as “a design classic that performs superbly well whether you’re on the bike or strolling through town.”
The Vulpine brand has also entered into a joint venture with Sir Chris Hoy, Britain’s greatest Olympic athlete, to create HOY Vulpine. It was noted that Sir Chris approached Nick and Vulpine, citing a similarity of inclusive ethos and dedication to quality. HOY Vulpine addresses the ‘performance’ end of the market, but with greater concentration on comfort and style. The brand’s sales this year are already £350k since launch in February 2015.
Funds from the campaign will be used for the following:
HOY Vulpine expansion: Launched in February 2015, its success has created the need for a broader product range.
- Supply chain flexibility: Long lead times overseas mean that greater flexibility is required, and can be achieved via British manufacturers. The much requested by customers “Made in Britain” range will launch next year. These are highly desirable products for the markets we are targeting. This requires upfront investment.
- International expansion: Through brand-building and careful marketing with high-end partners, we are looking to enter the North American and Asian markets.
Since its launch, Vulpine’s crowdfunding campaign has successfully secured over £200,000. It is set to close at the end of November.
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