Outdoor product designer FieldCandy is hoping to raise £200,000 on Crowdcube, the business has announced.
The campaign has been timed to coincide with the start of festival season – as nearly 200,000 campers travel to Glastonbury this weekend – to capitalise on what the business calls “festival fever”.
So far 31 investors have contributed £42,180 to the target – seeing it reach 21% of its final goal. The money raised will be put towards:
- Further product development and continued growth in product lines
- Grow e-commerce and internationalise the website by way of language and currency, to further increase sales in key regions
- Develop and add to the team
- Invest in small automated machinery to improve production times and increase margins
- Increase stock levels to cope with sales growth and improve retail packaging
- Focus on communicating
The fashionable brand was founded in 2011 and is currently stocked in Harrods, Heal’s, Liberty of London, Urban Outfitters and Saks Fifth Avenue. It has a presence in the UK, USA and Asia.
A statement released by the company said the campaign was deliberately timed to coincide with the British public looking towards festivals and other outdoor events this summer.
“This is the perfect time for FieldCandy to reach out via Crowdcube and offer an exciting opportunity to those who see the potential for FieldCandy to grow into an international lifestyle brand,” the statement read.
“By taking a stake in their business, investors will be joining them on a journey to conquer outdoor lifestyle.”
Further reading: Crystal Maze races towards crowdfunding target