Open for Vintage, a new luxury fashion platform that promotes sustainability and independent retailers, has successfully secured its initial £150,000 funding target through its equity crowdfunding round on Crowdcube. The platform, which was launched earlier this year, revealed that it connects customers with a global network of luxury boutiques specializing in pre-owned fashion, jewelry, and watches.
“Our mission is to promote sustainability and support independent boutique retailers to grow online. In this rapidly growing preowned luxury fashion market, valued at over £15 billion already in 2014, Open for Vintage aims to bring customers the best possible experience by only selling on behalf of carefully selected boutiques.”
Open for Vintage noted that it has already attracted famous customers such as Kim Kardashian and Pandora Sykes. The platform has been featured in global media including Vogue, Huffington Post, E! Entertainment, The Telegraph and The Sunday Times. It was also featured in the 2017 Startups 100 Index of top new UK businesses.
Speaking about the equity crowdfunding campaign’s success so far, Open for Vintage stated:
“We are thrilled that in just a week we have hit our funding target and welcome more than 100 investors to join us at this very exciting part of our journey. Thanks to our new investors, the business can now fully focus on the next stage of achieving our mission: building brand awareness and growing our customer base. With the positive response from investors we have opted to overfund the campaign and will remain live on Crowdcube for a further three weeks. We hope during this time to welcome many more investors to join us on our mission: To become the leading platform for luxury preowned fashion and in doing so to promote sustainability and independent retailers.”
All funds from the Crowdcube initiative will be used to continue Open for Vintage’s expansion. It is set to close at the end of December.
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