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
Simon has been news editor at road.cc since 2009, reporting on 10 editions and counting of pro cycling’s biggest races such as the Tour de France, stories on issues including infrastructure and campaigning, and interviewing some of the biggest names in cycling. A law and languages graduate, published translator and former retail analyst, his background has proved invaluable in reporting on issues as diverse as cycling-related court cases, anti-doping investigations, and the bike industry. He splits his time between London and Cambridge, and loves taking his miniature schnauzer Elodie on adventures in the basket of her Elephant Bike.