Emerging menswear brand Percival has launched a campaign on Crowdcube to raise £250,000 of investment to enable it to develop a wholesale strategy and launch another retail outlet.
Launched five years ago Percival already has a store in London’s Soho, on Berwick Street, and has attracted a number of high profile fans and backers, including Vogue contributing editor and presenter Alexa Chung, influencer Jack Guinness, Liberty London head buyer, Ben Andrews and GQ associate style editor, Nick Carvell who all appear in the brand’s investment video.
Founders Chris Gove and Luke Stenzhorn say the development of a wholesale business is crucial for the brand’s future growth. “We’ve had the Soho store for 3 years now, it’s done everything we’ve needed it to be. A hub for the business, a foundation financially, a place where all our customers can shop and meet the designers,” said Gove.
“However like any business we need to grow, we’re now perfectly positioned to take everything to the next level. Wholesale will take us to areas of the UK (and later on the world) that we wouldn’t be able to on our own, it will be a proud moment for us sitting a long side other brand, we respect and in stores we admire,” Gove added.
Percival began when Gove and Stenzhorn got together to design a modern take on the classic waxed mac. That piece still forms part of the brand’s collection but it has since expanded into a full ready-to-wear collection. It is something of a fashion insider’s secret but in the past five years it has gained a loyal following among celebrities and fashion editor’s and has amassed impressive press coverage.
“We are so pleased with where we have taken Percival to over the past five years,” said Stenzhorn. “We are lucky to have so many fantastic and supportive repeat customers and it’s for this exact reason that we have decided to crowd fund this stage of investment. We want to expand on our recent successes in a way that feels right and natural to us, and by opening up the opportunity to our extended Percival family.”
If successful the fundraise will also be used to improve Percival’s website and to open another retail outlet. The Crowdcube campaign is currently open to investors here. Crowdcube is the world’s leading crowdfunding platform and was launched in 2011. So far around £174m has been raised on the platform.