The Cords & Co. team has recently launched their crowdfunding campaign on FundedByMe calling it “a dream come true”. Founded by Mikael Söderlindh and Viktor Tell in 2016, the founders are described as some of the most successful Swedish entrepreneurs within the tech and fashion industries in creating a new segment with no direct competitors. While the $100 billion Denim industry is super crowded Cords & Co. have positioned themselves as an alternative to denim. They want to become the number one Corduroy brand.
The investment campaign is a strategic part of the company’s ambition to give everyone a chance to become an owner in a global fashion company. The investment round is seeing a minimum raise of €593,460.
Söderlindh said that when they started the business almost three years ago while pitching to investors they shared their intent to use crowdfunding at some point in the future;
“When we presented this project almost three years ago to the investors and the group of people involved, we had, on the last page of the agenda: when we reach a certain level, we’re gonna go on a crowdfunding campaign to build true ambassadors, people who love the project, so that we can find people to talk about us, because if people are engaged financially and product-wise and in the concept, they’re gonna talk about us – they’re gonna be our missionaries out, so this is a huge day, and the fact that we can get this going”.
The Cords & Co is also available at retailers in 20 markets worldwide. The company is now aiming to establish the brand even further with the help of its shareholders and ensure that corduroy is associated with The Cords & Co. The company says the fabric is already seen as one of the great fashion trends globally.
“We are very proud to present this unique opportunity together with The Cords & Co. With the awesome journey they have behind Happy Socks, it will be exciting to follow their new venture. With crowdfunding we are convinced that the opportunities for establishing passionate brand ambassadors will increase.”, emphasises Joachim Dworén, Sales Manager at FundedByMe.
The Cords & Co. equity offer started on March 28th and is open for 30 days, during which the company hopes to raise up to €2.5 million.
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