BikeBiz Bicycle and cycling retail news
In 2015 Vulpine achieved its £500,000 crowdfunding target in just four days; realising the potential for further growth, the brand upped the target to £1,000,000, which it achieved after 14 days.
Having achieved 80 per cent growth within the year, Vulpine is expanding further in 2017. Last summer the brand changed strategy and stopped stocking its products through retailers, instead opting to sell the products exclusively through vulpine.cc. Vulpine has since experienced 142 per cent growth in web sales.
It is now seeking investment to buy more stock to keep up with this rise in demand. The money will also contribute to increasing marketing to fast-growing international markets such as Germany, the USA, Australia and Japan.
Founder and managing director Nick Hussey said: “We welcome all cyclists, fast or slow, road whippet or picnic potterer. That inclusivity extends to seeking investment. Instead of institutional investment, we would rather our customers were our investors and even keener advocates. It’s perfect for a sociable brand like Vulpine.”
Crowdfunding on Crowdcube launched to the public today and has already achieved £141,180 as of 2 pm.
