Latest News | 27 October 2020
HUUB's crowdfunding campaign
Bondholder HUUB has launched a crowdfunding campaign to help drive its expansion and international growth.
The firm, which is based in Full Street, Derby, is looking to raise a minimum of £250,000 from its Crowdcube campaign to accelerate growth into new territories and expand its range of products.
HUUB is a premium endurance sport apparel brand and is a major player in the £60 million UK triathlon apparel and accessories market.
Among its star clients are Olympic triathlete medallists Alistair and Jonny Brownlee, who have become the first to invest in the campaign, which will be running on Crowdcube for at least the next two weeks.
According to HUUB founder Dean Jackson, despite lockdown and the subsequent cancellation of triathlon events, turnover has remained on a par with last year.
It has experienced significant audience demographic shift in 2020, with women’s apparel sales up 68% and cycling sales soaring by 681%.
Dean, who started the business in 2011 by designing a wetsuit on his kitchen table, said: “We are at a really exciting stage of our growth, with new categories performing incredibly strongly and our product range across the board continuing to appeal to professional and amateur athletes alike.
“Our average order value is up significantly – up 63% in the last six months – and our direct to consumer business is growing rapidly too.”
HUUB intends to use the crowdfunding cash to scale its direct-to consumer offering, expand the product range in its fast-growing cycling category, cater for the increasing number of women taking up endurance sports, and grow its presence in international markets, most notably the US and Germany.
Originating in the innovation-led swimwear and triathlon categories, but now embracing all endurance sports, HUUB’s product range is focused on performance and innovation, incorporating scientific research, continuous athlete feedback and cutting-edge technologies.
Last year, the company turned over £4.8 million and from 2015 to 2019 has achieved average sales growth of 32% year-on-year.
Dean said: “Our Crowdcube crowdfunding campaign is designed to help accelerate the growth we are experiencing on so many fronts and, I believe, offers a really exciting opportunity for those in the endurance sport community and beyond to invest in a brand that is on a steep upwards trajectory.
“And with both the Brownlee brothers already onboard, investors know they will be in the good company of two of Britain’s most successful Olympic athletes.
“Alistair also happens to have a master’s degree in Financial Economics, so he knows his way around a P&L statement and a good investment opportunity when he sees one!”
To find out more about the HUUB Crowdcube crowdfunding campaign, and to see the investor rewards available – including the opportunity to go cycling with HUUB’s professional athletes such as the Brownlee brothers, Georgia Taylor-Brown, Jess Learmonth and Dan Bigham, click here.
