Little Yellow Bird exceeds goal in crowdfunding campaign
Little Yellow Bird has raised over $440,000 in an equity fundraising campaign – having passed its minimum funding figure of $300,000, and becoming New Zealand’s self-professed ‘first community owned ethical fashion brand’.
The campaign has only hours left, has attracted over 220 backers, and will see Little Yellow Bird scale itself up with the aim of increasing market reach, growing sales and its leadership team, and expanding into new markets.
Expansion plans also include a clothes recycling program, which the company calls a “crucial next step for sustainable change” in its industry.
“We’re more than just a clothing brand,” Little Yellow Bird founder Samantha Jones said.
“We’re telling the story about where and how our products are made and are working tirelessly to provide employment opportunities in the communities where our clothes come from.”
At the end of the funding period, the ownership of the business’ shares will be split between campaign investors, Jones, and female-founder focused Lightning Lab XX at $1 a share.
The brand uses rain-fed, organic cotton grown without the use of pesticides or chemicals, while its factories use zero-waste initiatives. The business is working to minimise waste, and utilises closed loop systems to do this.