Online marketplace Atterley is launching a crowdfunding campaign having experienced year-on-year sales growth of 200% during the Covid-19 lockdown.
Atterley is used by more than 250 independent boutiques worldwide and has around 2,800 brands live on the site.
It has launched a new crowdfunding campaign to raise £500,000 to support further development of its marketplace technology. It hopes to use the funding to grow its international presence, including in the UK.
Atterley was founded in 2016 by Michael Welch (pictured), who sold his online tyre retail business to Michelin for $100 million in 2014.
Welch said: ”The beauty of our business model is that instead of operating out of warehouses with stock piles, our boutique partners provide Atterley with stock and can operate with just one person in each store ensuring safe continuous trading while their doors remain closed to the public. We’re seeing customer growth on the back of the public wanting to support local boutiques during the pandemic and we’ve also seen a marked upswing in boutiques wanting to join the platform since the lockdown took hold.”
“The retail world will change forever post Covid-19 and retailers will be forced to adapt to fast-changing consumer buying trends. Our investment plan is focused on ensuring that Atterley and our partner boutiques are long-term winners as the market evolves. Market conditions are going to increasingly suit industry players like Atterley and we can see a situation where there is less competition when the current shakedown stabilises.”
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