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OPUMO exceeds crowdfunding target with eight days to go

Lauretta Roberts
28 February 2019

OPUMO, the online fashion and lifestyle marketplace that is positioning itself as the "digital department store of the future", has exceeded its crowdfunding target with eight days left to run on its campaign.

At the time of writing the business, which was founded in March 2017, had raised £352,000 against its target of £350,000 with more than a week of its Crowdcube campaign still to go.

OPUMO is a content-driven, zero inventory marketplace and has generated £2.3m in gross sales to date for 450 brands spanning fashion, art, furniture, technology and more. Brands on the platform include Paul Smith, Tom Dixon and Bang & Olufsen.

"Each product we find and curate is significant in the way it unifies form, function and style, enabling our customers to surround themselves with fewer, better things," founders Nick Ayoub and Harry Beattie said.

The business has also been harnessing the power of its community to drive growth, creating a loyalty scheme called The Club, which rewards customers for shopping, referring friends, recommending brands and contributing content.

OPUMO plans to use the funds generated from the crowdfunding exercise to grow its community of customers and brands, expand its team and invest in new technology by building a "revolutionary brand portal", OPUMO Connect.

This crowdfund has been an amazing experience and it’s so exciting to see that our customers, brands and the crowd share in our vision to revolutionise traditional retail," Ayoub said.

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