Fashion and crowdfunding were in our minds over the last week for two reasons. The first was a query from one of our users, a crowd finance advisor, who wanted to provide his client with answers on fashion related crowdfunding. The second was the announcement that Wool and the Gang is being acquired by Blue Gem Capital Partners
Fashion and crowdfunding were in our minds over the last week for two reasons.
The first was a query from one of our users, a crowd finance advisor, who wanted to provide his client with answers on fashion related crowdfunding. The second was the announcement that Wool and the Gang is being acquired by Blue Gem Capital Partners.
We turned to Crowdsurfer Pro to find out what the data says about fundraising for fashion and thought it'd be good to share what we found.
Are fashion businesses raising funds using crowd finance?
In short, yes.
Over the past 12 months we have tracked 337 successful crowdfunding campaigns for fashion related products or services that raised over $50,000. Combined they have raised $81.3 million.
How much can you expect to raise?
This is obviously dependent on your business and campaign approach. The average amount raised across the 337 campaigns was $255,200, although this is likely skewed by the most successful raises (the highest individual raise was $9,200,000). A more sensible benchmark is probably the median amount raised, which was $103,200.
The chart provides a more detailed illustration of the spread in amount raised.
Note, raises below $50,000 were filtered out in the original search.
How many backers will you need?
Depending on the amount you need to raise the number of backers required varies (as illustrated below). Across the 337 campaigns the average number of backers was 1,192 and the median number was 543. BauBax's the World's best travel jacket received the highest levels of backing with 44,949 backers.
What type of crowdfunding should you choose?
Of the 337 campaigns, 301 opted for using a rewards platform. The average amount raised for each rewards campaign was $242,400. Whilst much smaller in count (9), the average equity raise was $787,800. So your choice will depend on the amount you are targeting.
What were the largest raises?
The 6 largest fashion related raises of the last year were :
BauBax LLC’s World’s best TRAVEL JACKET
Wool & the Gang
World’s first heated down jacket
LIV’s Redefining Swiss Automatic watches
8-in-1 Evolution bra
Take advantage of Crowdsurfer to research your own fundraise or to answer any other questions you have about crowd finance. Register here to access the most current and interactive data intelligence on the industry.
What is Crowdsurfer Pro?
Crowdsurfer Pro is the world's most trusted, data intelligence service for the global crowd finance phenomenon. Using big data engineering and machine learning, Crowdsurfer Pro distils billions of data points on individual raises into usable intelligence for fundraisers, investors and regulators.