Award-winning baby care brand Cheeky Chompers launches its first crowdfunding campaign this week on equity crowdfunding platform Crowdcube.
The Edinburgh-based company, who last year won a Queen’s Award for enterprise for international trade, plans to use the investment to further scale the business through new product development, direct sales growth and increased brand awareness in key markets.
Cheeky Chompers products are now sold by over 1,500 retailers in 49 countries, with US, China and the UK largest markets. The overall global market for baby soothers and teethers is forecast to reach nearly $8 billion by 2020 and with over 31 distributors globally, exports by Cheeky Chompers account for approximately 65% of the total sector sales.
“Our vision is to be one of the go-to brands worldwide for baby products and gifts and we’re excited to be sharing our vision and future successes with our loyal customers, supporters and the crowdfunding community,” said founding director Julie Wilson. “We have a strong base from which to scale the business with an extensive international distribution network already in place. We are really excited about the next phase of growth.”
Cheeky Chompers sells in major retailers including John Lewis, JoJo Mama Bebe, Tesco, Boots and Nordstrom and has developed exclusive products for carefully selected retailers such as Joules and The White Company.
“We have exciting new products in progress to expand our product range and feed our strong distribution channels,” added founding director Amy Livingstone. “In addition, we will significantly drive digital growth and create even closer connections with our individual customers in order to grow the higher margin direct to consumer channel.”
The crowdfunding campaign is being supported by corporate finance boutique Quest Corporate and corporate advisory firm Full Circle Partners.