L’Estrange London, the direct-to-consumer menswear label that aims to shake up the market with its modular system of dressing, has exceeded its £300,000 crowdfunding target with 13 days left to run on the campaign.
The business, which pivoted its business model away from wholesale to direct-to-consumer, had raised at the time of writing more than £304,000 from 106 investors on Crowdcube and its campaign has almost two more weeks to run.
L’Estrange, which recently staged a pop-up in London’s Soho, aims to encourage men to buy less and buy better with a versatile range of pieces that can be worn together in any combination and in any setting.
Previously the label, founded by Tom Horne and Will Green, had been stocked in some of the world’s leading multibrand retailers such as Saks Fifth Avenue, Isetan in Japan and Colette in Paris. However in 2017 it cut out the retailers in favour of selling direct to consumer and has seen its direct sales increase x2.4 in the past year.
Since then the business has raised £250,000 from experienced investors, doubled its conversion via a new website, opened two successful pop-ups, made key hires and achieved over 140% year-on-year growth on direct to consumer revenue.
The new tranche of money will be used to “scale growth through proven online marketing, new product development, hire freelancers full time and expand our successful pop-up series to reach new audiences,” it said.