An ethically-minded ski clothing brand headquartered in Manchester and founded by an ex-professional has raised more than £900,000 on Crowdcube as it bids to continue its international expansion.
Planks secured in excess of £910,000 through over 500 investors during its month-long campaign.
The company is run by founder and executive director Jim Adlington and had an original funding target of £500,000.
Before the pandemic struck, the business enjoyed three consecutive years of c.40% year-on-year growth, with sales reaching £1.85m in its most recent financial year.
E-commerce sales grew 55% in that period while during its current year, revenue stands at £1.03m to date and EBITDA at £508,000.
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The brand is stocked by the likes of ASOS, Ellis Brigham in the UK, Torpedo7 in New Zealand and EVO in the USA.
A statement on the company’s Crowdcube page said: “Planks is a British ski brand built on a lifelong obsession with skiing, ethically producing technical ski clothing and streetwear.
“We engage our community of 27k+ customers through unique digital and physical experiences such as the Grassroots Tour and our loyalty platform ‘The FUSS’, where our best customers complete missions, create content, & become brand advocates.
“Our guiding philosophy is respecting the planet and its inhabitants. We use bluesign-approved fabrics and incorporate REPREVE recycled yarns into 68% of the Planks collection, recycling 1.5m waste plastic bottles, so far.
“We plan to continue international D2C expansion by improving the customer experience in target markets; by localising the website, digital marketing and fulfilment.”