UK-based fashion brand ME+EM recently launched an equity crowdfunding campaign on Crowdcube to raise £700,000. Within a matter of days, the initiative has successfully secured its funding target from more than 300 investors.
ME+EM describes itself as a UK fashion in the direct-to-consumer movement. It was founded by Clare Hornby in 2009, and it was revealed:
“With a background in fashion and advertising, Clare had always been frustrated by the lack of on trend, flattering and affordable clothes for women to wear every day. She set out to create an Intelligent Style brand that would bridge the gap between beauty and affordability.”
The company’s clients include Duchess of Cambridge, Claudia Winkelman, Cara Delevigne and Emma Watson. ME+EM currently has two stores in prime central London and receives more than 125,000 monthly hits on its website.
The company reported that its website visits were up by 50% to +1.5million, as the brand grows stronger this grew +70% in the last quarter of 2016. It was also noted that in January 2017 alone ME+EM experienced +110% year on year increase in net revenue as its growth accelerates.
“Over the last two years our customer base has grown significantly and we are performing well with January YoY sales up 102%. The total UK clothing and footwear market is currently worth £50bn and expected to grow to +£60bn by 2020.”
ME+EM noted that the funds from the Crowdcube run would go towards growing its digital growth faster, along with enhancing its online and mobile marketing. The campaign is set to close at the end of March.
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