BikeBiz Bicycle and cycling retail news
British performance outdoor and bike brand Alpkit has announced that it has smashed its funding target – in less than eight minutes.
The brand, whose range includes gear to run, hike, climb, camp, swim and bike, recently invited customers to be part of the business as shareholders. The investment campaign had been open for just eight minutes when brand hit its target of £750,000 and in just under an hour the outdoor and bike brand had raised £1.6 million from 1,200 investors.
The brand is now opening the share offer to the public for seven days.
This follows record sales over the last two and half years and reflects Alpkit’s ethos of ‘being outside together’. Alpkit became a certified B Corp in 2020 and says the outdoors is for everyone – it offered shares from just £10 at this time of expansive growth for the company.
CEO and co-founder David Hanney said: “Yesterday was wonderful and we’ve been completely overwhelmed by the support from our customers.
“This is an exciting time for us and as well as the financial backing, we appreciate the breadth and depth of expertise that comes with our new shareholders as we go into our next phase of growth.”
Alpkit’s new shareholders will be the first to hear about Alpkit’s plans, including opening two new stores a year, opening an international hub and launching two new product categories – footwear and e-bikes.
Alpkit is a premium multi-activity outdoor and bike brand for enthusiasts and adventurers. It’s digital-first, connecting customers online and in its stores. The brand’s aim is to use digital technology to “redefine the UK outdoor industry and unite the design quality of a performance sports brand with the customer service of a specialist store.”
