Cornwall-based clothes care start-up Garments Physician has simply finalised its newest crowdfunding marketing campaign, elevating £778,258 from 220 traders through Crowdcube.
The fast-growing firm, which is stocked by Harrods, N.Peal, Ocado, United Airways and the V&A, noticed revenues develop 192% year-on-year to March 2024, and is now eyeing additional enlargement within the US, Europe and China.
In a earlier crowdfunding marketing campaign, 119 traders acquired some 7.72% of the fairness in Garments Physician, which had a pre-raise valuation of £8,411,756 previous to this newest spherical.
Garments Physician goals to revolutionise clothes care with its imaginative and prescient of much less waste and distinctive clothes care. It goals to make caring for the garments shoppers already personal “as fulfilling and aspirational as shopping for new ones”, by its vary of top of the range clothes sprays, detergent merchandise and moth repellents.
Based in July 2017 by ex-Metropolis retail analyst, Lulu O’Connor, the Garments Physician service began by offering a digital reply to conventional clothes repairs and alterations. With a totally geared up workshop in rural Cornwall, Garments Physician has been providing a direct-to-consumer service and offers repairs for the likes of Whistles and FatFace.
Lulu O’Connor stated: “Up to now, our model has been funded by funding, elevating over £1.5 million during the last three years. We need to change into worthwhile within the present monetary yr, which can strengthen our place and permit us to leverage future progress extra successfully.
“We now have improved profitability not too long ago by enhancements to logistics, prices in our provide chain, and improved promoting effectivity.
“Our clients have been so supportive, and we’d like to have them – and certainly anybody who has a love and respect for garments – to change into part of our future plans.
“With clothes making up an estimated third of landfill waste, we’re all about discovering a solution to breathe new life into our garments, so we now not dismiss issues as ‘outdated’ or ‘final season’.”
Since 2021, Garments Physician has been growing and promoting its personal vary of premium laundry merchandise – with a selected concentrate on market niches reminiscent of cashmere, moths, and journey.
The merchandise are distinctive for being manufactured with cruelty and palm-oil free components and are full of actual important oils “for a refined complicated scent profile”. Garments Physician laundry merchandise are additionally packaged in recyclable aluminium bottles with compostable labels.
Funds raised from the Crowdcube marketing campaign will assist scale advertising and marketing, enhance operational efficiencies, and new product growth inside the moth repellent class.
