Lingerie Brand Bluebella Raises One Million Pounds
Lingerie Brand Bluebella Raises One Million Pounds
Bluebella, London-based lingerie and nightwear fashion brand, has raised more than one million pounds in crowd-funding by attracting over 700 investors on Crowdcube.
The company was founded in 2005 by Emily Bendell and is currently already stocked in several leading retailers including Asos, House of Fraser, Topshop, Figleaves and Urban Outfitters. Its e-commerce business increased by 130% between 2015 and 2016 and the brand has recently launched in the United States. The US launch not only included partnering with top retailers Nordstrom and Bare Necesseties, but also incorporated an e-commerce site.
The brand is currently forecasting sales of 1.6 million pounds in 2016 and is hoping to see increasing development in 2017. Online lingeries sales have experienced an enormous growth in sales over the past year are forecasted to grow even further. Bluebella’s utilisation of this boom in online lingerie sales is likely the reason for its large number of investors.
Patrons were able to select one of two types of shares, the first being a B Investment of £10 or more, which did not have any voting or pre-emption rights. The second, A Ordinary, of more than £5,000 allowed one vote in any circumstance and certain pre-emption rights. Both ranked equally in terms of dividends and capital distributions.
Rewards were given dependent on the amount invested. In an individual invested £100, for example, they would get a 25% discount on a purchase. £5,000 meant a 40% discount on the brand for a year whilst a £50,000 investment allowed the investor to name a new season set of Bluebella lingerie. This top investment was also rewarded with an invitation to a champagne dinner preview of the new collection and a chance to discuss future strategy with the founder. The largest investment received was £100,000.
The decision to crowd-fund has been a smart one, with the company raising double the £500,000 it had hoped to amass. Bendell commented on the choice saying, “As a consumer brand we felt that crowd-funding would add a brilliant marketing element to the fundraising campaign – not only creating a buzz around the campaign, but also an on-going army of brand ambassadors.”
Lingerie Brand Bluebella Raises One Million Pounds
