A stylish, cycling safety campaign is overfunding on Seedrs.
Torch Apparel focuses on the safety and style of today’s cyclists. As the founders are enthusiastic cyclists themselves, they’ve based their products around riders’ actual needs. Torch Apparel seeks to infuse its products with a high level of quality and function, and to ultimately make cycling safer (and simultaneously more stylish!). CE approval of the Torch T1 helmet is allowing for sales across international markets.
Approximately 2,000 helmets have been sold worldwide, with limited brand awareness or points of sale. The company secured a first round Angel investment from Hugh Roper.
Torch is a product development and retail business. The business model is based upon the supply of Torch products directly to consumers via the Torch Apparel website, through partnerships with selected retailers and top distributors. The business is beginning to expand across Europe, taking advantage of a vast addressable European market. The plan is to build a long term sustainable brand, with a wide product portfolio, providing good margin.
Funding will be used for:
1. Working Capital - ordering on suppliers requires advance financing with their Chinese manufacturing partners. They will also look to extend credit to certain reselling partners in the future.
2. People - the European business will recruit dedicated sales people to engage relevant channel partners across the European region.
3. Marketing - attendance at relevant exhibitions, advertising in relevant media and generating appropriate web traffic will involve a fully targeted marketing campaign for the European business. Local language websites allowing for multi-currency transactions and the development of additional web-stores on platforms like Amazon will occur.
4. Offices – Torch Europe may secure a low cost office environment on favorable commercial terms.
5. Product Development - Torch Europe will assist the US business in the development of new Torch products.
You can view more of their campaign details here.
Amount raised so far: £77, 300
Target amount: £50,000
Equity offered: 10.00%
Days left: 55