Zhik opens AU$4m crowdfunding campaign

Australian-based technical apparel brand Zhik has launched an equity crowdfunding campaign to raise AU$4m (£2.29m) to drive future growth.

Registration is now open following one of Zhik’s most successful years, with sales growing 40 per cent in the financial year ending June 2022.

Zhik is inviting sailors, brand followers and watersports enthusiasts to register, and says successful investors will receive perks associated with their level of investment. Interested parties can sign up on Zhik’s website.

Triple Olympic medallist Mat Belcher, who stepped up from the Zhik Board to take over as CEO in October 2022, is leading the campaign. “This campaign kicks off an exciting new chapter for Zhik, “he says. “Our investment plan is centred around continuing to drive our digital capabilities and working closely with our extensive trade partners to expand into new territories and grow market share.”

“Plus, we want to continue investing in developing more sustainable technical and lifestyle products while expanding our range for the broader sailing, boating and watersports markets.”

Zhik was appointed as the official supplier to the Australian Olympic sailing team in 2021.

Valued at AU$28.5m, according to the company, Zhik has a network of trade partners and distributors across 49 countries, with warehouses in Australia, the United Kingdom, the Netherlands and America.

Zhik is working with Equitise, a unique leading equity crowdfunding platform. The Expression of Interest process will qualify potential investors alongside regional regulations and is open until 28 February, before the offer goes live and will run until 6 April 2023.