UK-based tea brand Tiosk successfully secured its initial 120,000 funding goal less than a week after launching its equity crowdfunding campaign on Crowdcube. The company sought to raise the funds as it prepares to develop its dry tea packaging and new products.
Led by former directors of Michael Kors and Timberland, Natasha Kelly and Nicola Simpson, Tiosk is described as a contemporary tea brand that specializes in health, premium, tea-based drinks and modern tea ware. In 2014, the company opened its first tea-bar and lifestyle store in the city of Hackney and was reportedly on track for a 22% turnover growth in 2016. The Tiosk crew also noted that it has an “Omni-channel” approach, which it states that all revenue stream should mesh together seamlessly for a “holistic customer experience.” Its retail will have two faces, concept stores(housing tea bar and retailing dry tea) and pocket shops (a kiosk that includes a takeaway tea bar).
The company revealed that its first concept store in Hackney had achieved so much since its opening in 2014:
“Renown to be the home of creatives, artisans, and early adopters, it has provided the perfect environment to launch new products and garner invaluable customer feedback. We have hosted in-house workshops, supper clubs and exhibitions and are proud to have launched our wholesale arm of the business with a stunning collaboration with iconic fashion brand Toast.”
Along with being used to develop products, Tiosk’s Crowdcube funds will be used to launch e-commerce and remodeling of the Hackney store to house its newly dry tea and tea-ware. After the company had secured its initial goal, Simpson shared:
“We are more than a little overwhelmed to say that we have overachieved our funding target by the opening of day 3. A heartfelt thank you to everyone for supporting us on our journey – we are so excited to have so many brand advocates in the community! We would like as many of our friends and brand supporters as possible, to be able to join the Tiosk family, so we will stay open to overfund past our target but the round will close soon.”
The campaign is set to close at the end of October.
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