Huub launches fundraiser through CrowdCube, eyes international growth
Derby-based performance sportswear brand Huub is looking to raise £250,000 from customers, investors and fans to fund its ambitious growth strategy.
The business, established in 2011, said it is on a “steep upwards trajectory”, having recorded an impressive 681% surge in cycling sales in lockdown. Women’s apparel sales have also jumped by 68%, reflecting significant new opportunities.
Notably, Huub said 2020 turnover is on par with last year’s £4.8 million, despite the coronavirus pandemic forcing the triathlon competition schedule to be cancelled.
The crowdfunding effort will aim to raise enough money to enable the brand to scale its direct-to-consumer offering, invest in its fast-growing cycling category and cater for the increasing number of women taking up endurance sports. Huub also wants to grow its presence in international markets, most notably the US and Germany.
Athlete brothers Alistair and Jonny Brownlee, Olympic medallist triathletes and long-term Huub athletes helped kickstart the Crowdcube campaign, becoming the first to invest in the premium label.
Huub founder Dean Jackson said: “We are at a really exciting stage of our growth, with new categories performing incredibly strongly and our product range across the board continuing to appeal to professional and amateur athletes alike. Our average order value is up significantly – up 63% in the last six months – and our direct to consumer business is growing rapidly too.”
“Our Crowdcube crowdfunding campaign is designed to help accelerate the growth we are experiencing on so many fronts and, I believe, offers a really exciting opportunity for those in the endurance sport community and beyond to invest in a brand that is on a steep upwards trajectory.”
As well as the partnership with the Brownlee brothers, Huub has relationships with world triathlon champion Georgia Taylor-Brown, world triathlon series medallist Jess Learmonth and cycling world cup winner Dan Bigham.
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