Luxury fashion brand Evocha raises £30,000 in Seedrs funding
87 investors back pre-launch budget fashion website
Luxury fashion website Evocha has closed a £30,000 round of investment on crowdfunding platform Seedrs, raising money from 87 investors.
Evocha, which is set for launch later this year, is an online-only fashion brand which will offer consumers ‘luxury essentials’, sourced directly from manufacturers at budget prices.
It aims to disrupt the luxury fashion market by offering drastically reduced prices for premium goods and adhering to enduring clothing designs, rather than passing fads.
The Seedrs backing will allow the brand to take advantage of the burgeoning luxury goods sector in the UK, which is predicted to double in size to be worth £12.2bn by 2017.
A total of 87 investors backed the company through Seedrs, which allows businesses to connect directly with private investors in a form of peer-to-peer fundraising.
Lucas Gordon, founder and chief executive of Evocha, said: “At our early stage, it is extremely difficult to gain investment without traction and proof of concept. Angels and VCs are sceptical without market validation.
“The crowdfunding model not only provides investment, but also offers a group of experienced, knowledgeable investors whose expertise and networks have now been added to our own. I cannot emphasise enough the importance of this established group of brand evangelists that we have managed to gain even before launching.”