What better day to launch a crowdfunding campaign to encourage more women to start investing than on International Women’s Day (8 March)? Wednesday will see womenswear brand The Fold targeting women to help it raise up to £1 million to support its physical retail expansion plans.
The Fold’s founder and CEO Polly McMaster 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.”
The latest crowdfunding campaign on Crowdcube follows the £10 million raised since McMaster founded The Fold in 2012. The business, which has one store in Chelsea, London, is mulling a second London location as well as one in New York, with the US generating almost 50% of its sales last year.
The business saw sales of £16 million last year and said it was now close to breaking even.
In November, The Fold also formed a long-term partnership with Manchester City Women’s Football Club, giving it 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”.
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