Danish fashion watch brand Nordgreen has launched in the UK after completing one of the most successful European fashion Kickstarter campaigns ever staged.
The Copenhagen-based brand raised $250,000 via the 30-day campaign, selling 2,000 watches to 1,417 customers before a single one had come off the production line. The success of the crowd-funding campaign put Nordgreen at number three in the top 10 most successful ever Scandinavian Kickstarter fashion projects.
As a result the brand has now launched a dedicated local language website for the UK market, along with sites for 14 other markets including Germany, China, Japan and Korea. The watches retail for between $200 to $250 and part of the proceeds from each sale goes to the Giving Back Programme, which is a worldwide scheme to promote social responsibility within the fashion industry.
The campaign was designed to act as a PR exercise to raise awareness for Nordgreen’s new range of fashion watches designed by Jakob Wagner, the renowned Danish designer who has designed for such brands as Bang & Olufsen, Cappellini and Moroso.
Nordgreen was set up by the new e-commerce focused venture capital fund, Blazar Capital, which has a 50% share in the business. Funding of $500,000 was invested through the capital fund from an anonymous private investor, who received a 10% share in Nordgreen, valuing the business at $5m prior to launch.
Nordgreen was one of three new e-commerce start-ups created using the capital fund, the others being JamieLooks and Messyweekend, both in the eyewear category. The total capital investment across all there companies was $1.15m – with $500k for Nordgreen and Jamie Looks, and $150k for Messyweekend.
Blazar Capital was founded by the two youngest individuals ever to be promoted to the position of Partner within Europe at consultancy McKinsey, Christian Arnstedt and Denis Fedoryaev. The fund is looking to invest further by creating up to 10 new e-commerce start-ups by 2020. Each of these companies will aim to capitalise on growing market trends, with particular focus on the Asian markets who are adopting new technologies and western trends.