Le Col, a cycling apparel brand that was founded by Team GB cyclist, Yanto Barker, announced on Tuesday it has extended its equity crowdfunding campaign on Crowdcube. The company launched the initiative last month, seeking £1 million as it prepares to expand and is offering 20% in equity.
As previously reported, Le Col was established in 2009 and manufactured in Italy and currently sells its products to more than ten countries in the world through a range of specialist retails, which includes Harrods cycling concession. The company purchased its factory in 2014 and became a self-manufacturing business. The company’s description reads:
“Le Col is a premium cycling apparel brand conceived from an obsessive desire for perfection. The brand ambition was to create beautiful, performance enhancing clothing, that gives cyclists every advantage. Using Yanto’s professional insights, and continuous rider feedback, Le Col strives to design and manufacture the most technical and innovative products available in order to improve the rider’s experience in all climates and seasons.”
While sharing details about the campaign’s extension, Barker stated:
“As a pro cyclist I have had some big weeks, but none bigger than this week with the birth of my first child, Matilda (5 days ago!). It has also been a momentous few days for my other baby, Le Col. Friday was going to be the last chance for investment and I’m updating today to tell you that because we have a number of ongoing conversations with some exciting and sizeable potential investors, we have extended the funding period into the new year. Another chance for you to make Le Col your baby too.”
Funds from the campaign will be used to raise brand awareness through marketing, entry into new markets, and appoint more employees. Since its launch, the initiative has secured more than 550,000 from 115 investors. It is now set to close mid-January.
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