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The Chapar exceeds £1m crowdfunding target

Menswear styling service The Chapar has raised £1.3m in capital after launching a crowdfunding campaign.

The etailer, which set a £1m target on crowdfunding platform CrowdCube, plans to invest the capital in online and offline marketing in a bid to attract new members.

The Chapar posted yearly revenue of £2.8m last year. It plans to grow this to £5.4m over the next 12 months.

The £1.3m raised includes a £250,000 investment from a key investor before the campaign launched. The etailer said that some of these funds may have been spent while the pitch was live.

The Chapar, which delivers outfits to suit customers’ personal styles, stocks 60 brands including Ralph Lauren and Calvin Klein. It has signed up 146,500 members to date, and is staffed by 52 employees.

Readers' comments (3)

  • I am researching into various forms of online marketings used by different industries, I was wondering if anyone knew strategies The Chapar ended up implementing with the capital raised from Crowfunding.

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  • How much profit did they make last year? Usually crowdfunding is when the banks say no and the owners aren't prepared to put their money where their mouth is, though there are exceptions.

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  • Exclusive: The Chapar goes into administration

    Full screenThe chapar
    Online menswear styling service The Chapar has gone into administration, Drapers can reveal.

    The company, founded in 2013 by father and son Joe and Sam Middleton, appointed Sheniz Bayram of Antony Batty and Company as administrator at the end of last week.

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