Stefan Preston and Sue Dunmore of lingerie company Rose & Thorne Design. Photo / Richard Robinson
Home-grown lingerie company Rose & Thorne, a finalist in the University of Auckland Business School Entrepreneurs' Challenge, is rapidly gaining a cult following and rave reviews on its Facebook page, which now has more than 25,000 fans.
Rose & Thorne's devotees were key to the company's growth when
going up against established players with hefty advertising budgets, said co-founder Stefan Preston.
"When you're small you've got to muscle your way into the market and you've got to get customers to be your fans and demand your product and pull it through the channel," Preston said. Currently the company turned over $2 million a year, which Preston said was likely to double next year, with the potential for the employee-owned business to be worth $100 million.
To turbo-charge its push into New Zealand and overseas markets the company needs investment capital but does not want to do so at the expense of its shareholders' stakes.
As one of five finalists in the Entrepreneurs' Challenge it is hoping to tap a share of the $1 million in growth funding on offer.
