British menswear label L’Estrange has hit its £300,000 crowdfunding target with 10 days to spare.
The company plans to use the funds to scale its growth through online marketing, as well as investing in new product development, hiring freelancers full time and expanding its successful pop-up activity. L’Estrange is currently hosting 24 events in 24 weeks with the philosophy ‘with less do more’ at its pop-up store in Wardour Street in Soho, London.
The firm was founded in 2013 by William Green and Tom Horne who wanted to create a modular clothing system that saves men time and hassle. They describe the company as offering versatile essentials that can be worn together in any combination and in any setting, “built for comfort, style and longevity”.
The brand was previously stocked in stores including Saks Fifth Avenue in the US, Colette in France and Isetan in Japan but decided to move away from its retail stockists to sell direct to customers.
“Since then we’ve raised £250,000 from experienced investors, doubled our conversion via a new website, opened two successful pop-ups, made key hires and seen over 140% YoY growth on direct to consumer revenue,” the brand said in the crowdfunding push on Crowdcube.
Green said: “Our vision for the future of L’Estrange is to be a network of community hubs, that act as the epicentres for a global collective of thinkers, creatives, hackers and activists, united by the idea of building a better world. Think Patagonia meets TED meets Soho House - but built around contemporary lifestyle. These hubs will be fully shoppable but also part food, part bar, part workspace, as well as doubling for events.”