Yanto Barker’s cycling apparel brand, Le Col, officially closed its equity crowdfunding campaign on Crowdcube. The company launched the initiative in November seeking £1 million in funding and finished the funding round with more than £1.1 million from nearly 360 investors.
Le Col, which was founded by the professional cyclist in 2009, sells its products in more than ten countries around the global through specialized retailers, which includes Harrods Cycling Concession. The company stated it is a premium cycling apparel brand conceived from an obsessive desire for perfection. Yanto revealed why he decided to launch the brand:
“Firstly, I needed to build myself a job for when I retire. I had this idea when I was 28 years old so I have been preparing for a while, secondly, I truly believe we can make better products than other brands. Last of all I am inspired to work in teams that excel, and this business offers me the chance to build a team and motivate people to achieve really great results, who also enjoy and feel fulfilled in their roles.”
Funds from the campaign will be used to raise brand awareness through marketing across all channels, fund entry into new markets, and to fund the appointment of the required personnel.
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