Sportswear brand launches global equity crowdfunding

skinsSportswear company, Skins, launched a global equity crowdfunding campaign incorporating New Zealand, Australia, the UK and Europe.

The Australian-founded, Swiss-based premium sportswear brand’s offer involved raising at least $800,000 minimum in New Zealand and Australia through the Equitise platform and the rest in a parallel offer on the UK-based platform, Seedrs. The company is hoping to attract $4.42 million from retail investors in an overall fundraising of $9.8 million, a report from stated.

This was the first time New Zealand had been involved in a global equity crowdfunding offer, Will Mahon-Heap, Equitise co-founder, said.

The minimum investment for investors in New Zealand is $55, which is equivalent to 10 shares. Rewards vary depending on the size of the investment, from discount vouchers to lifetime free product.

Skins executive chairman, Jaimie Fuller, said the company included New Zealand and Australia in the crowdfunding offer, “because it had better brand recognition Down Under.”

The offer represents 10 to 12 percent of Skin’s capital and kicks off with £243.5 million already committed by management, including Fuller.

The 20-year-old company is valued at 18 million pounds pre-offer and has achieved A$43 million in revenue this year and A$5 million in earnings before interest, tax, depreciation and amortisation.

Skins, which was founded by a keen Australian skier who wanted to develop a garment that improved sports performance and aided recovery, makes sports compression clothing and sportswear designed to improve performance.

Fuller said some of the funds raised will be spent speeding up research and development of its patented technology but most of it will go on consumer and brand marketing with a planned launch of a broader range of sporting products, like branded hoodies and caps, to build on its compression wear.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.