Lirecento officially opens its equity crowdfunding campaign on the Italian platform Mamacrowd and aims to collect – like minimum target – 600,000 euros and then to reach the hard cap of 1.1 million euros. Founded in 2017 by Carlo Battaglino and Luca Labbadini, Lirecento is the first digital brand specializing in the omnichannel sale of men’s trousers entirely designed and manufactured in Italy, and its strength lies in the business model without intermediaries. A model, explains the digital company, which “in fact provides a direct line from the factory to the consumer and in this way is able to optimize costs and guarantee the highest quality, with an ultimate price 50% lower than the market”.
Each garment is entirely designed and processed in Italy, in the Piove di Sacco plants, in the province of Padua and Lirecento is part of the men’s trousers market which, according to Statista data, is now worth over 155 billion euros worldwide. The company was therefore able to fill a void in the traditional fashion market, that is, also sell online men’s clothing, of high quality and Made in Italy, but at a lower price. A choice that turned out to be a winner and that was also confirmed during the Covid-19 emergency: with the closure of physical stores, Lirecento proactively responded to the increase in demand for online sales, recording an increase in turnover obtained through this channel. .
To prove it are the numbers: over 15,000 trousers sold and 6,500 customers who have chosen and they were satisfied with the quality and services of Lirecento. Now, with the equity crowdfunding campaign, Lirecento is ready to welcome new shareholders and grow further. The funds raised through the campaign on Mamacrowd will in fact be used by Lirecento to strengthen its positioning and enhance the growth of the company.
Lirecento, which closed 2020 with a turnover of around 500,000 euros and which boasts Rocket Internet in its corporate structure, the company with a market cap of 30Bn euros – which has invested in some of the most successful start-ups including Zalando – has ambitious prospects and a business plan that expects to double its turnover in 2021 and reach over 7 million in turnover in 2023.
“The health emergency has put everyone to the test: we had to deal with the closure of the stores while the digital channel has maintained a growth trend ” explains Carlo Battaglino, Co-founder and CEO of Lirecento. “We are returning to pre covid turnover levels, we see clear signs of recovery and return to spending, which is why – adds the manager – we think it is the perfect time to launch our equity crowdfunding campaign, aimed at increasing investments in digital marketing and increasing the presence of physical stores monobrand “.
“A difficult year full of pitfalls such as 2020 has allowed us to strengthen the direct relationship with our customers“underlines Luca Labbadini, co-founder and Coo of Lirecento.