Common Objective to launch crowdfunding campaign
Common Objective is launching a crowdfunding campaign to raise £500,000 to further develop its digital platform, expand its team and extend its global reach.
The online platform connects designers with suppliers with the aim of transforming the way fashion business is done. Over 25,000 users have already subscribed to be part of the organisation, which is described as the world’s largest sustainable fashion network.
To date, the platform has raised over £1.1 million, with a further half a million pounds expected to come through Crowdcube, the crowdfunding British platform.
The funds will be partly used to improve the company’s technology, which gives fashion professionals access to a global database of brands and suppliers, expert industry intelligence, and industry knowledge-sharing.
Suppliers and brands operating in a more sustainable way are rewarded by CO’s algorithms with higher search rankings on the site.
Backed by a range of leading fashion designers, sustainability activists and entrepreneurs, including Roland Mouret, Harold Tillman, Dame Vivienne Westwood and Amber Valetta, the platform aims to drive the fashion sector towards a common objective
"Launching this Crowdcube campaign is fundamental to the mission of CO. The global CO community is catalysing a new way of doing business - 26,000 fashion professionals, pioneers, business owners and decision makers from 150 countries, committed to changing fashion for the better. This campaign makes it possible for anyone who works in or is inspired by fashion to become a shareholder, and a co-owner in our goals,” said Tamsin Lejeune, CEO and founder of Common Objective.
“Although awareness is increasing, the negative impact of the fashion industry on the environment and the people who depend on it, continues to accelerate. This crowdfund will enable us to further invest in the tech behind CO, rewarding best practice and incentivising meaningful, measurable and specific action towards sustainability.”
According to Common Objective, more than 250 people have pre-registered their interest ahead of the campaign’s official launch.
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