UK-based fashion brand, ME+EM, is set to close its equity crowdfunding campaign on Crowdcube this evening. The company launched the initiative last month, seeking £700,000. It will be finishing the round with nearly £1.4 million.
ME+EM was founded by Clare Hornby in 2009, and its clients include Duchess of Cambridge, Claudia Winkelman, Cara Delevigne, and Emma Watson. The company currently has two stores that are located in the prime central London and receives more than 125,000 monthly hits on its website. ME+EM 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. The company also noted that in January 2017 alone it experienced +110% year on year increase in net revenue as its growth accelerates. While sharing details about its success over the past couple of years, ME+EM revealed:
“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.”
It was also noted:
“In 2016, website visits were up by 50% to +1.5million, as the brand grows stronger this grew +70% in the last quarter of 2016, showing there is more potential in this business. With the next round of fund raising we will focus on building our digital growth faster and enhancing our online and mobile marketing to boost our customer conversion online.”
During the final hours of its campaign, the team shared:
“A big thank you to all those who have invested so far. Our raise has been hugely successful and we are excited to have hundreds of you as part of our business.”
Funds from the Crowdcube campaign will be used to help ME+EM expand digitally.
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