Less than three years after successfully securing £203,000 through Crowdcube, leather bag company, Beara Beara, has returned to the equity crowdfunding platform to raise £380,000 as it plans to establish a new factor and open a larger store in London.
Beara Beara currently has shops in both London and Shanghai. It also has expanded its manufacturing to more than 70 employees and reports that it is on track revenue of £1.2 million in 2017. The company also revealed:
“We have seen great demand for our products. Our factory is a frenzied hive of motivated workers desperate for space amongst mountains of bags. The team has exceeded expectations and we now need a second factory.”
As previously reported, Jake Bullough, founder of Beara Beara, described the company as a brand of leather bags that combines British designs and skilled Bolivian leather workers:
“Our hope is that everyone who purchases a Beara Beara appreciates the skill, determination, respect and love that goes into making each individual bag. Bolivia is an isolated country and we take pride in providing employment for over fifty people who would otherwise be struggling to find work.”
“We are one of the largest exporters of leather goods from Bolivia and once we increase our manufacturing capacity, we can then produce other goods such as bicycle saddles, furniture, etc.”
Since its launch on Monday, Beara Beara’s second Crowdcube campaign has raised more than £80,000 from nearly 50 investors. It is set to close at the beginning of July.
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