Troubadour Goods, a London-based menswear brand that specializes in designing and creating handcrafted leather goods, closed its Seedrs campaign on Monday. The initiative, which originally sought to raise £500,000, completed the funding round with £526,269 from well over 100 investors.
As previously reported, Troubadour Goods stated it aims to design, create and sell premium men’s accessories and believes its products combine performance design with a clean, modern aesthetics, and craftsmanship, to create pieces that will last for decades. The company revealed:
“We sell our products directly to customers through our website and pop-up shops, and via more than 60 of the best stores in the world in more than a dozen different countries. Among other well-known names, our retail partners include Selfridges and Harvey Nichols in the UK, United Arrows and Isetan in Japan, and Barneys and Nordstrom in the US.”
Troubadour Goods’ team stated they plan to use half the funds from the Seedrs campaign to support sales growth to their customers and retail partners. The other half will be used to fund working capital requirements for their forecast growth plan. They added:
“This working capital is primarily allocated to additional inventory and expected accounts receivables growth, as many of our retail partners receive payment terms. Over time we see an opportunity to expand the brand into adjacent market segments, including other men’s luxury products and women’s accessories. However, our immediate plan is to build on our current platform and grow sales of our men’s accessories products.”
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