FINDRA sets £600,000 funding goal to quintuple turnover within three years

FINDRA sets £600,000 funding goal to quintuple turnover within three years

Alex Feechan

FINDRA, a Borders-based women’s outdoor clothing company, celebrates its 10th anniversary with a fresh round of investment and a crowdfunding campaign to fuel its ambitious growth plans.

Founded in 2014 by award-winning fashion designer Alex Feechan, FINDRA has garnered a loyal following due to its commitment to sustainability, quality, and stylish functionality.

With a new £300,000 investment from existing investors and an additional £300,000 crowdfunding target on Crowdcube, the company aims to deliver five times its current turnover in the next three years.

The company’s sales predominantly come from online buyers in the UK, but with the ability to ship globally, FINDRA plans to reach new audiences and expand its presence with this new investment.

Ms Feechan explained FINDRA’s brand values and sustainable approach to the design and development of its products appeal to a wide audience of active females.

She said: “We’re seeing more people, of all ages, wearing outdoor clothing for everyday wear. They look for versatility, functionality and style, elements already incorporated into every item of the FINDRA product offering.

“Building the FINDRA brand and community is not an overnight task. You can look at brands such as Patagonia which has been around for 50 years and has stuck to its core values of creating clothing responsibly.

“This new investment will allow FINDRA to concentrate on our triple bottom line of people, place and planet, growing our community of customers in a considered approach.”

She added: “We know that FINDRA’s loyal customer base is deeply connected to our identity as a female-led brand. We understand the importance of representation and empowerment in the outdoor industry.

“By choosing to crowdfund, we affirm our commitment to our community, knowing they share our vision for inclusivity and innovation. Their unwavering support underscores our belief in creating clothing that not only performs but also resonates with their values and aspirations.

“Reaching out to our community to ask them to share in this adventure with us felt like the natural way to go.”

Ms Feechan also pointed towards similar clothing companies which have undertaken crowdfunding. She said: “Finisterre completed a successful Crowdraise in 2019 and are continuing the crowdfunding route to raise investment and expand on their already engaged community.”

Discussing the issue of current retail trends, economic challenges and sustainability, she said: “We’re not unlike a wide variety of businesses in that the combined impact of the pandemic and more recent economic conditions, affected us in a variety of ways.

“It’s also no surprise that retail habits have shifted in recent years. What we’re seeing is a bit of a move away from the fast-fashion trends of the last decade, towards quality and classical pieces which are longer-lasting but also have a positive impact on our society.

“That sense of sustainability and value is very much at the forefront of people’s minds, but there is still a long way to go and a lot of work to do to encourage consumers to shop sustainably and choose more ethical brands.”

Investment and entrepreneurial experts from law firm Harper Macleod have advised FINDRA since 2016 on its investment rounds, commercial property matters, trademark applications and intellectual property.

Jo Nisbet, partner in the entrepreneurial team at Harper Macleod, said: “Alex is a long-term female entrepreneur who has created a brand and a community with huge potential.

“There are some challenges for women entrepreneurs when it comes to raising investment, so a crowdfunding exercise is a natural step due to the community aspect of the business alongside the longstanding support of existing investors.

“The opportunity to grow the business, adapting to online retail habits and the desire for more sustainable and versatile clothing, means FINDRA is perfectly placed to grow its appeal among a wide range of buyers who are either ethically conscious, outdoor enthusiasts or are looking for products which will stand the test of time.”

More than two-thirds of FINDRA’s range is produced in the UK, most of which is made using Merino wool which is environmentally-friendly and more durable than other textiles. One of Ms Feechans designs, the Stroma Jacket, was selected for permanent display at the National Museum of Scotland. FINDRA’s name comes from a combination of Scandinavian and Gaelic origin which, when combined, translates into ‘a strong mythical female spirit, who is the keeper and protector of the forests, lands and oceans’.

FINDRA is a Scottish EDGE winner and Entrepreneurial Spark participant.

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