In an investment campaign launched on the CrowdCube investment platform on June 29, British outdoor and bike brand Alpkit was able to raise £1.5m (€1.6m-$1.9m) and surpass its crowdfunding target in less than eight minutes. With the campaign, Alpkit, whose range includes gear to run, hike, climb, camp, swim and bike, invited customers to be part of the business as shareholders. The original funding target was £750,000 (€831,863-$935,070). Alpkit’s 1,380 new shareholders will be entitled to tiered benefits, depending on their level of investment. These include discounts on Alpkit product, VIP entry to Alpkit’s annual Big Shakeout festival, a custom UK-made backpack and to be the first to hear about Alpkit’s plans. The funds raised will be invested in the opening of two new stores a year from 2021; international growth through easier translation, payment and delivery; and a program to achieve world-class sustainability assessment using the BCorp framework by 2022.
Alpkit was founded in 2004 and runs its own factory in Nottingham. There are four brand stores in Hathersage, Ambleside, Keswick and the Metrocentre. One percent of all sales goes to the brand’s own Alpkit Foundation, an independent charity set up to remove barriers to getting outdoors and experiencing wild places.