Kidly has launched a crowdfunding campaign to invest in its own-brand range.
Online kids’ clothing and lifestyle retailer Kidly has turned to crowdfunding in the hopes of raising £1m to invest in its own collection Kidly Label.
Kidly launched the campaign on the Seedrs platform this week and has already reached 95% of its target investment, with 85% raised within the first two days.
The retailer intends to use the funding to invest in its expanding own-brand collection, which launched in 2019, growing from seven lines to more than 250 products across seven categories including clothing, footwear, tablewear, toys and accessories.
The brand began as an online marketplace for children’s clothing from third-party brands, but its own-brand offer now makes up 25% of revenue and at the end of last year it began selling with Next as a marketplace partner.
Kidly founder and chief executive James Hart said: “Our own brand, Kidly Label, has generated over £3 million in sales in the past 12 months alone, meaning the time is right to accelerate the growth of the collection and capitalise on its potential, as we know customer appetite is there.
“This focus on own-label growth, coupled with the rationalisation of our third-party brands, puts us on a steeper profit trajectory and gives us a great position to scale from.”
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