Yorkshire-based girlswear brand ILoveGorgeous has smashed through its £300,000 crowdfunding target in just four days, and will plough ahead with expanding into boyswear.
The CrowdCube campaign launched on Aril 8 and had reached its goal by April 12, generating more than £300,000 for 7.16% equity in the business. The crowdfunding page will remain live until May 7.
ILoveGorgeous will use the money raised to launch its first boyswear range for autumn 16. The 40-piece capsule collection will be available online and in its two London stores, in Notting Hill and Primrose Hill.
For spring 17 the number of pieces in the range will increase and it will be made available for wholesale.
Sophie Worthington and Lucy Enfield founded the business in 2006 and said the idea to design a boyswear collection had been in the pipeline for a couple of years. It was positive response from customers that pushed it into fruition.
“When we initially started thinking about adding in a boy’s collection and the next phase of growth of our business the first thing we did was ask our customers if it was something they would want. The resounding answer was yes,” said Worthington.
”We are confident there is a huge gap in the market for a boyswear collection with the same design aesthetic as our girls range.”
She added that the firm opted to crowdfund rather than approaching venture capitalists, as it gave customers a chance to “get a slice of the action”.
ILoveGorgeous has more than 160 wholesale accounts worldwide, including Selfridges, Liberty, Harrods and Barneys in New York.
Wholesale prices for spring 16 range from £25 for skirts to £57 for dresses.