Paul Weller and business partner Phil Bickley have set up a crowdfunding campaign on Crowdcube with the aim of raising £400,000 to grow their fashion label, Real Stars Are Rare.
The label, first launched in 2014, focuses on classic menswear with a modern twist. Collections are limited edition and only sold online and in Bickley’s menswear boutique, Tonic, on Portobello Road.
The crowdfunding campaign asks friends and followers to invest any amount from £10 in exchange for limited edition clothing and discounts. The £400,000 target corresponds to an equity share of 16.67% and investors will also have the right to participate in dividends and capital distributions.
The goal of £400,000 is to be used to expand the collection, broaden distribution, update the website, and be used on general marketing and hiring support staff. £260,000 of sales are projected for 2017.
Items currently sold on the website include t-shirts costing between £50 and £80, premium knitwear at £150 – £250, and tailored shirts and jackets (full suits start from #450). The look and origin of the brand is designed to appeal to the modern day Mod.
The Crowdcube campaign currently has 27 days left to run and has reached almost the £100,000 mark to date.