The funds raised will be used to expand its product line, increase marketing efforts, and build a strong online presence
Dubai – Only Ethikal, a sustainable fashion platform committed to curating eco-friendly clothing and accessories, has launched a crowdfunding campaign with Eureeca to raise funds to expand its product line and increase its reach regionally. The company has set a target of $250,000 to be raised in the campaign, which will run for 90 days on the Eureeca platform.
Only Ethikal was founded in 2019 with a mission to make sustainable and ethical clothing more accessible. The company partners with brands that use organic, recycled and upcycled materials, and works with artisanal communities to produce unique, handmade pieces that are both beautiful and sustainable. The company’s current product line includes a range of women’s, men’s and kid’s clothing, accessories and beauty products. Committed to ethical practices, the brand is a member of 1% for the planet organisation and contributes 1% of the revenue for the cause since 2020. By collaborating only with brands that pay fair wages and respectable working conditions, the brand creates awareness about ethical practices and production. Only Ethikal is also dedicated to reducing its carbon footprint and has partnered with DHL to calculate and offset the carbon emissions generated from shipping orders to customers.
One of the key uses of the funds raised in the crowdfunding campaign will be to enhance their channels to connect more with the Arabic speaking audience in the region. The company will also expand its marketing efforts to increase the brand’s reach regionally. Only Ethikal plans to further strengthen their customer experience by connecting with their audience in both Arabic and English. The company also plans to invest in marketing and branding initiatives to increase its visibility and expand its customer base.
“We’re pleased to partner with Eureeca on this campaign, as they have a proven track record of success in helping startups and small businesses raise the capital they need to grow and succeed,” said Deepthi Chandran Joyau, Founder of Only Ethikal.
Eureeca is a crowdfunding platform that connects investors with startups and small businesses looking to raise capital. The platform has a global reach, with investors from over 90 countries and a network of over 12,000 registered investors. Eureeca provides a range of services to help companies succeed in their crowdfunding campaigns, including marketing support, legal advice and access to a network of industry experts.
“We are thrilled to be partnering with Only Ethikal on this crowdfunding campaign,” said Milda Kise, Campaign Manager of Eureeca. “We believe that sustainable fashion is the future, and we’re excited to support a company that is committed to creating eco-friendly clothing and accessories. We look forward to working with Only Ethikal to help them achieve their fundraising goals and take their business to the next level.”
Only Ethikal’s crowdfunding campaign is now live on the Eureeca platform, and the company is inviting investors to join them on their mission to create a more sustainable fashion industry. The campaign is open to both individual and institutional investors, and the company is offering equity in exchange for investment.
“We’re excited to offer investors the opportunity to be a part of the Only Ethikal journey,” said Joyau. “This is an opportunity to be part of a company that is committed to make sustainable fashion more accessible and also to be part of a community of like-minded individuals who share our vision for a better tomorrow.”
The sustainable fashion industry is expected to grow to a $17 billion industry by 2032 as per a report by Business research and according to a report by Mckinsey, 50% to 60% of the population in UAE and KSA are looking for healthy, purpose driven and innovative products. With these stats and with a strong track record of creating high-quality, sustainable fashion, Only Ethikal is believed to be well-positioned in the sustainable fashion market for investments and is optimistic about the response from investors.