As previously reported, Vulpine, which was started in 2012 by cyclist Nick Hussey, is hoping to change the way cycling clothing is made. The company shared in its crowdfunding pitch:
“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.”
Currently, 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.
Sharing his thoughts about Vulpine’s crowdfunding success so far, Hussey stated to BikeBiz:
“It is pretty amazing to do it all in 5 days, the support has blown me away. Last week, I was absolutely bricking it because we’ve never done this before – Crowd funding is still relatively new and it’s definitely new to us. But we put absolutely everything into it and we’re so grateful that people have shared our passion and vision in investing.”
He then added:
“We have a really engaged audience of customers and people both inside and outside of cycling really care about the brand and the story. We’ve had loads of lovely messages off people who have wanted to be part of Vulpine before and now there’s been a structure and opportunity to do it. We’re in such a good position now, not just because of the funding but because of the skills, contacts and offers of help and expertise that have come from investors.”
Vulpine’s campaign is set to close at the end of November.
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