UK-based cycling apparel brand Huez has successfully secured its initial £250,000 funding goal from nearly 250 investors during its Crowdcube campaign, which is set to close in a week and a half.
The company, which was launched in 2014, stated it uses advanced sportswear fabrics to create its range of cycling apparel that works on and off the bike. Since its debut, Huez has partnered with various retailers, which includes The Conran Shop, Matches Fashion, and Velorution. It has also sold apparel in shops in the UK, Europe, and Australia. It was revealed:
“We were one of the cycling brands selected by Matches Fashion and since launching on their site have had multiple repeat orders. Recently we have agreed wholesale orders for our Spring Summer 2017 collection and received interest from cycling shops in Paris, Vienna, Madrid and London. These include names such as Harvey Nichols and Farfetch which together reach close to 13m users per month.”
Huez is currently seeking funds for its new 10 menswear pieces and first women’s wear collection. It will also put funds towards continuous growth of its online strategy, hire a marketing manager to deploy strategy with sponsorship, online ads, print ads and key events. It is also looking to grow its wholesale accounts in the UK and internationally by appointing new sales personnel and deploying a marketing campaign.
The company recently announced its aim is to keep the funding round open and continue to reach its overfunding goal of £500,000. The company’s Crowdcube campaign is currently set to close on November 25th.
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