In its second crowdfunding round launched this week, circular denim brand Mud Jeans aims to raise a capital worth €250,000 (approximately $270,600). The brand will use these funds to enhance awareness among customers, boost online sales, and expand its wholesale business. These growth plans of the company entail an investment of over €1 million this year.
To be hosted on the sharefunding platform Eyevestor, the crowdfunding will be initiated on a profit sharing basis. Consumers will start getting dividends within four to six years, as the Dutch brand will reinvest all earnings back into the company for growth. Investment opportunities range from a minimum of €250 ($270) to €25,000 ($27,060), with various benefits such as shopping credits, free jeans, and membership in Mud’s think tank. For investments exceeding €25,000, the brand will provide a custom proposal.
In its first crowdfunding round, Mud Jeans successfully raised €641,000 ($693,800) from 460 investors. If the second round is successful, the company plans to initiate a third round of funding.
Mud Jeans is known for its ‘lease a jeans’ program and aims to promote 100 per cent circular denim. This year, the brand has revamped its approach to manufacturing and selling jeans, strengthened its management team, and improved its product range. The current collection includes popular styles like barrel jeans, wide-leg jeans, maxi skirts, and coordinates. In May, the company also launched a bolder branding strategy and a new, consumer-friendly website.
Mud Jeans aims to achieve revenues worth € 25 million by 2030. By then, the company plans to expand its retail presence from 210 to 780 stores and increase its annual sales of jeans from 43,000 to 360,000, all made from 100 percent recycled denim.
