Today is the last day to invest in UK-based energy-saving lightbulb manufacturer, Plumen! The company took to equity crowdfunding platform Crowdcube in June to raise 500,000 for its new products. Within a month and a half, it surpassed its initial goal and is finishing the funding round with nearly £620,000.
Plumen has created energy-saving lighting, using design and beauty to inspire adoption of sustainable lighting technology. The company reported that an estimated 130,000+ homes in over 75 countries and is featured in the permanent collections of MoMA, the Design Museum and the V&A to name.
To date, Plumen has successfully achieved the following:
- A team of 12 employees based in London
- Registered IP for all its products
- A Danish manufacturing partner, all products made in China
- Retail margins of 50% and 60-70% through its website
- Products are offered through retailers, including John Lewis, Made.com, Urban Outfitters, Habitat, Crate & Barrel, and MoMA.
- Sold over 500,000 products so far
- Turnover of £1 million
The Plumen crew also noted they are planning to launch its new product, the Plumen 003, which is described as a light shade inside of a lightbulb. It will also launch a range of LED filament bulbs. Funds from the Crowdcube initiative will go towards new product development, hiring and increased marketing spend.
“We have just confirmed two major new retailers – one UK high street brand will be selling our filament LED range from early September and we have confirmed a large EU retailer to stock the 001 from January 2017. To top it all, we had a fantastic response to our recent Made.com collaboration. In fact, the response has been so good that we’ll be doing a second collaboration in October. We’ve also recently agreed a deal to launch the 003 in one of the world’s leading lifestyle magazines”
The campaign will close later today.
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