Footwear brand Solillas has launched a £350,000 equity crowdfunding campaign to open its first UK store and fuel growth in the US.
A former winner of the Best New Business award at the Drapers Footwear Awards, the Menorcan sandal brand is launching the fundraising on crowdfunding platform Crowdcube, in a bid to raise £350,000 for 14% of the equity of the business.
The money will be used to open its first UK store in London in 2018 and to grow is wholesale presence in the US.
The fundraising is backed by lead investors Dean Foreman and Nigel Brooks to advise on the performance of the online channels.
Jonnie Matthew, founder and owner along with wife Sarahjayne Matthew, said: “We want a chance for our customers, our followers, our fans, and our friends to be a central part of the Solillas story and own their part of our success. In the current market you have to offer something different to the crowded retail mass and we are very excited about doing just that.”
Solillas was set up in 2009 and is currently stocked in Urban Outfitters, Office, Schuh, Topshop, Selfridges and House of Fraser in the UK. All products are designed in London and handmade in Spain.
This year, sales are forecast to hit £1m.