New Zealand entrepreneur Jovian Cummins. Photo / Supplied
New Zealand entrepreneur Jovian Cummins. Photo / Supplied
Woolies Jeans has smashed its minimum target on crowdfunding platform PledgeMe.
Shearer Jovian Cummins launched an equity crowdfunding campaign earlier this month, seeking to raise between $50,000 and $500,000 to help him patent the designs for the merino-lined jeans and build a supply chain.
Shares were priced at$1 each with a $250 minimum investment and, by Friday, more than $88,500 had been pledged.
By the time the campaign ends in two months, the aim is to have attracted $500,000.
Cummins said he was "ecstatic" with the response and felt people understood his vision.
He had been contacted by a few major retailers in Canada and the United Kingdom.
"I think that one of the main take-aways from the crowdfund has been that there have been a lot of people who have told me that I would need to produce in China or India, but I have had confirmation that I will always be able to produce these jeans in New Zealand."
Once the crowdfunding was completed, Cummins would make special designs of the jeans, depending on the activities people wanted to do. There would be the likes of trail walking, farmer and casual designs, in men's and women's styles.
"I feel like people are really resonating with my jeans because I think that a lot of people see the problems traditional jeans have and can see the appeal of my jeans," Cummins said.
He hoped to apply for investment from the Ministry for Primary Industries, as the Sustainable Food and Fibre Futures co-invested on projects which stimulated primary industries.
