Vulpine, the cycle clothing firm founded in 2012, is seeking £500,000 investment to finance the next stage of its development – and owner Nick Hussey is turning to crowdfunding to raise the money and give customers and the broader public a chance to share in its success.
Since Hussey established the business in southwest London three years ago, Vulpine’s sales have doubled annually and it now sells almost 90 different products across three separate ranges, one of them a collaboration with six-time Olympic gold medallist, Sir Chris Hoy.
Money raised through Crowdcube, where the campaign goes live on Monday 19 October – the company’s customers have been invited to invest from today – will help expand the HOY Vulpine range, which has already achieved revenue of £350,000 since its launch eight months ago.
Hoy said: “Vulpine is a brand that shares the same values as me, focused on quality and with an inherent attention to detail, they were exactly what we were looking for and that’s why the partnership works so well.”
The investment being sought will also help finance international expansion in the United States and Asia with Hussey, who chose not to seek private equity funding, targeting the Japanese and South Korean markets in particular.
Ultimately, his goal is to develop Vulpine into “an international lifestyle brand, bringing stylish casual apparel to enthusiasts and casual cyclists alike.”
Hussey said:“I am so excited to offer everyone the opportunity to become part of #VulpineStory. I am looking forward to even more fun, with brand advocates who actually own part of Vulpine! What better to help grow your business?
“Cycling is growing as a lifestyle choice for so many people and we’re determined to show them just how good stylish cycle clothing can be,” he added. “We’re committed to build on our success, we believe in Vulpine, and we love hearing that so many other people do too.”
The company has produced the following video to tie in with its fundraising drive, and you can find more details on Vulpine’s Crowdcube campaign here: www.crowdcube.com/Vulpine
Born in Scotland, Simon moved to London aged seven and now lives in the Oxfordshire Cotswolds with his miniature schnauzer, Elodie. He fell in love with cycling one Saturday morning in 1994 while living in Italy when Milan-San Remo went past his front door. A daily cycle commuter in London back before riding to work started to boom, he's been news editor at road.cc since 2009. Handily for work, he speaks French and Italian. He doesn't get to ride his Colnago as often as he'd like, and freely admits he's much more adept at cooking than fettling with bikes.