Chi, a UK-based beverage brand, has recently launched an equity crowdfunding campaign on Crowdcube. The company is seeking £750,000 as it prepares for expansion.
Chi describes itself as a fast-moving consumer goods (FMCG) brand that sells a variety of raw and organic coconut-based products. The company stated its currently stocked in thousands of stores, which includes Waitrose, Tesco, Sainsbury’s, Wholefoods, and Asda. It also ships its products globally to countries like Australia, Finland, and The Netherlands. It was revealed:
“Chi represents an opportunity to invest in a growing UK FMCG brand. Chi sells a range of 100% natural coconut waters, milks and oils to a broad range of retailer partners, and major supermarkets on a global basis. Launched to market in 2012, Chi’s award winning taste, pure ingredients and aspirational brand values have delivered strong growth in our revenue since inception.”
Chi also noted that it has sold more than 1.5 million items from its range of twelve products from December 2015 to December 2016. Its products retail from £1.69 up to £21. The company also claimed it has raised approximately £500,000 since its launch nearly five years ago and has otherwise self-funded through sales. It currently has a pre-money valuation of £6.5 million.
“With our global presence that has been growing since inception, we feel that we are building up a strong brand equity as an organic supplier using the best ingredients in our products.”
Funds from the initiative will be used for new product roll out, working capital, to improve cash flow, and marketing. As part of the offering, Chi is offering 10.34% in equity to those who invest. Since its launch, the campaign has successfully secured more than £115,000 from over 50 investors. It is set to close at the beginning of March.
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