The Cords & Co launch crowdfunding campaign under FundedByMe
Founded in 2016 by Mikael Söderlindh and Viktor Tell, the design duo behind Happy Socks, Swedish brand The Cords & Co already boasts six stores, with the most recent opening in Soho in mid-March 2018. Now, in a bid to position itself as the "Levi's of corduroy," the brand has entered into a crowdfunding campaign.
The campaign will kick off March 28, 2018 via the FundedbyMe website, in the hopes of attracting 2.5 million euros over 30 days. In doing so, investors will have the choice of opting for three categories, starting from 150 euros. Depending on the amount given, participants will be offered a reduction across collections, more or less, for a limited time. Therefore, smaller donations will correspond with a 40% reduction over a period of 30 days, the second a reduction of 30% valid for one year, and the last a discount of 15% for life.
In addition, Mikael Söderlindh's other goal is to get participants involved in the strategic process, as though they were actual brand stakeholders: "We will submit to them new sections, new topics, new campaigns, invite them when we organise events in their country to represent the brand ... By participating in the development of The Cords & Co, they will then be committed to assuming an ambassadorial role to raise awareness of the brand."
Söderlingh is certain that making aficionados of The Cords & Co into minor stakeholders of the brand will be more effective in raising the brand’s profile than an intensive social media strateg
"I'd prefer to have 17,000 participants give 150 euros than have 500 with the biggest amount, because in that way our community would be that much bigger," said Söderlingh.
Growing community, while earning money, has been part of The Cords & Co since its debut: "This type of fundraising has been etched into the brand for two years now," said the founder.
The Swedish brand is currently present in four countries (US, Sweden, France and Italy) with a fifth market entry happening soon via a new Tokyo store. Products are also stocked in some 20 multi-brand retailers globally.
Copyright © 2023 FashionNetwork.com All rights reserved.