The Bias Cut launches new investment round
Premium womenswear shopping platform The Bias Cut is launching an investment round via crowdfunding platform Seedrs.
The “trailblazing” shopping platform, which “unapologetically celebrates women of all ages, with a particular emphasis on the underserved 40+ market”, claims to be at the forefront of the “emerging consumer demand for age-inclusivity in fashion”.
To that end, The Bias Cut is looking for an unspecified amount from investors to help fund its mission “to develop purposeful content to instil change in the fashion industry and to allow the business to continue to grow and flourish as a forward-thinking e-commerce platform, paving the way for age-inclusive style”.
The crowdfunding will be used “to foster and harness the values [of the] community-driven business”. This will include the growth and development of the website; provide more content “to continue to recruit new audiences and deepen engagement with current customers”; engaging in VIP collaborations; and further develop the Jacynth London brand, introducing wider size ranges, team development, and a fulfilment centre.
The business, founded and launched by Jacynth Bassett in 2016, claims a second consecutive year of double-digit growth; a reported 199% growth in annual gross profit from 2021 to 2022; a 17% revenue increase over the same period; a 26% year-on-year rise in turnover in Q4 2022; and just a 13% return rate.
Meanwhile, a 2022 survey of its existing customers aged 30-70 found the leading reasons they shop with the brand was 65% said it was due to its age-inclusive ethos, 70% its contemporary brand offer, 65% its quality, and 53% due to the variety of aged models used in all brand imagery.
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