Story image

Social enterprise Ethique launches second equity crowdfunding campaign

25 Sep 2017

Christchurch-based social enterprise Ethique is launching their second equity crowdfunding campaign on PledgeMe on September 29.

The money raised will be used to fund marketing and expansion in international markets as well as working capital to keep up with demand for their products. Brianne West launched the solid beauty bar business in 2012 with the aim to reduce plastic waste.

Since then, Ethique has stopped almost 200,000 bottles from going to landfill and have grown substantially in the last year. In 2015, Ethique raised over $200,000 in two weeks to fund the development of their product and expansion.  “Since we raised money last time, we’ve been busy,” says Brianne West, Ethique CEO. “We’ve gone from our home kitchen, into a small factory, into a new 780 square metre premise in June 2017 whose warehouse we are struggling to keep full.” Last year, they grew their revenue over 350%, achieving just under $1 million in sales. 

Ethique currently export to Australia and the United States. “After huge interest in the United States in 2016, including social media shares from Britney Spears and Ashton Kutcher, we decided to focus on the American market,” says West. “Since 43% of online sales go through Amazon, we knew we had to be selling there. We’ve partnered with Pharmapacks, the largest online pharmacy in the US who also work with Unilever, Kérastase, Revlon, and Neutrogena to get listed.” “Now, with the huge growth we are experiencing, we are raising capital again,” says West. Ethique Limited is expecting to raise a minimum of $350,000, and up to $500,000, which represents 2.3% - 4.7% of the company, at $8 per share with a minimum investment of $504. “We’ve decided to crowdfund again because we love involving our customers and supporters as much as possible in all facets of our business and bringing them along for the ride,” says West.  Anna Guenther, PledgeMe founder and CEO says it’s exciting to see a company come through for a second round of equity crowdfunding. “Over 80% of the first round of investors were Ethique customers, so it’s awesome to see them get another opportunity to own a piece of the brand they love.” Ethique will be launching to existing shareholders at their AGM on September 28 and then for public investment from 4pm on September 29.

Better data management: Whose job is it?
An Experian executive’s practical advice on how to structure data-management roles within a modern business environment.
Platform9 and Intersect partner to bring unified cloud to A/NZ
“For Intersect, Platform9 represents the single most strategic solution to a set of challenges we see expanding across the board."
Meet the future of women in IT
Emily Sopers has just won Kordia’s first ever Women in Technology Scholarship, which was established to address gender imbalance in the information and communications technology (ICT) sector.
Web design programmers do an about face – again!
Google is aggressively pushing speed in the mobile environment as a critical ranking factor, and many eb design teams struggling to reach 80%+ speed scores on Google speed tests with gorgeous – but heavy - WordPress templates and themes.
Digital spending to hit US$1.2 trillion by 2022
A recent study by Zinnov shows that IoT spend reached US$201 billion in 2018 while outsourcing service providers generated $40 billion in revenue.
'Iwi Algorithm' can grow Aotearoa's mana
Ngāti Whātua Ōrākei innovation officer Te Aroha Grace says AI can help to combine the values from different cultures to help grow Aotearoa’s mana and brand – and AI is not just for commercial gain.
Dropbox brings in-country document hosting to A/NZ & Japan
Dropbox Business users in New Zealand, Australia, and Japan will be able to store their Dropbox files in-country, beginning in the second half of 2019.
Why 'right to repair' legislation could be a new lease on life for broken devices
“These companies are profiting at the expense of our environment and our pocketbooks as we become a throw-away society that discards over 6 million tonnes of electronics every year.”