Troubadour Goods, a London-based menswear brand that specializes in designing and creating handcrafted leather goods, has returned to Seedrs just a little over two years after securing £583,769 through its previously equity crowdfunding round. The company, which quickly raised its new initial £411,248 funding target, is now offering 9.56% in equity at a £3,891,727 pre-money valuation.
As previously reported, Troubadour Goods aims to design, create and sell premium men’s accessories and believes its products combine performance design with clean, modern aesthetics, and craftsmanship, to create pieces that will last for decades. The company revealed:
“Troubadour was born out of a desire for a men’s overnight bag that was appropriate for the office, but not so formal as to be out of place in a more casual setting. Performance is at the heart of our design process, with the team thoughtfully tailoring each piece to meet the lifestyle needs of the Troubadour shopper.”
Troubadour Goods also noted that its direct sales business represents over 40% of its business. Direct sales are typically grown through press coverage and social media, and a loyal base of returning customers. The company further explained:
“Wholesale sales also just over 40% of our business and are made to our 60+ retail partners who then sell our products on to their customers. We are very selective in which wholesale accounts we work with, and only sell to stores that we consider have the highest levels of customer service and satisfaction.”
In regards to what the funds from the latest Seedrs round will be used for, Troubadour Goods added:
“We anticipate that approximately half of the funds raised in the current round will be used to support sales growth to our customers and retail partners. The other half will be used to fund working capital requirements from our forecast growth plan. This working capital is primarily allocated to additional inventory and expected accounts receivables growth, as many of our retail partners receive payment terms.”
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