The Fold urges women to invest in new crowdfunding campaign
Womenswear brand The Fold has launched a crowdfunding campaign to encourage more women to start investing after research showed that a lack of confidence was holding them back.
The Fold has raised about £10 million in investment since Polly McMaster founded the company in 2012. The business saw sales of £16 million last year and said it was “at the cusp” of breaking even.
The British womenswear brand set out to shake up the workwear market by allowing women to express their individual personalities while retaining their sense of professionalism in the workplace. Notable customers include the Duchess of Cambridge, Pippa Middleton, Holly Willoughby, and Samantha Cameron.
As part of its push to broaden its investor base to include more women, it has launched the crowdfunding campaign on Crowdcube, hoping to raise between £750,000 and £1 million to support physical retail expansion plans.
The business currently has one store in Chelsea, West London, and is reportedly eyeing another location in London, as well as one location in New York, with the US generating almost 50% of its sales last year.
McMaster, Founder and CEO of the Fold, said the shortage of female investors in the UK was brought into sharp focus for her when she was first looking for early-stage angel investors. She told The Times: “I was very keen to find female angel investors to get behind the brand but...there are so very few of them. It was truly shocking.”
Research from wealth management firm Brewin Dolphin showed that whilst women were excellent savers, they were far less active in making investments, more often opting to leave it in savings accounts.
Funding opens for pre-registered investors tomorrow, followed by public crowdfunding on 8 March 2023.
In November 2022, Manchester City Women’s Football Club and The Fold announced a long-term partnership to become the Official Formalwear Partner of Man City Women. The Fold provides the club with access to a selection of quality tailoring, including its bestselling Clever Crepe performance suits for when the players need to perform and feel their best off the pitch.
Listen to TheIndustry.fashion's podcast with Polly McMaster, Founder & CEO of The Fold.