Paul Weller has started a crowdfunding campaign to finance his premium menswear brand Real Stars Are Rare.
The rockstar, alongside his retail partner in the business Phil Bickley, has asked for £400,000 to expand his menswear label. It is currently sold online and through Bickley‘s bricks-and-mortar store Tonic on London’s Portobello Road.
Since the inception of the company in 2014, of which Weller acts as creative director alongside his chief executive partner, Real Stars Are Rare has sold over £400,000 worth of clothes with no advertising budget.
Now the pair plan to expand the brand following promising sales, giving away 16.67 per cent to investors. The money will be used to expand the brands range, distribution and relaunching the website.
It is also seeking a standalone store for 2018, with sales predicted to hit £260,00 this year, and over £2 million in 2021.
“I used to go into Phil‘s shop, Tonic in the Portobello Road, and we got chatting and I was saying to him that I had always wanted to do a clothing brand and it just kind of grew from there,” Weller said.
“We’ve chosen to do this through equity crowdfunding on Crowdcube, so that our friends and followers can be involved.
“Crowdfunding is a great way for everyone to get involved and allows people to invest from as little as 10 pounds.”
The campaign was launched on Friday February 24 and has already seen £100,000 raised.