Crowdfunding record for Faire Leather
Homegrown men’s luxury leather company Faire Leather has surpassed its initial target of $50,000 to achieve more than $406,000 by the end of its crowdfunding campaign.
This makes it the highest-funded Kickstarter project so far out of the 628 initiated out of Singapore.
It launched its Kickstarter campaign on November 15, using crowdsourcing to help introduce its leather bags and small leather goods. In less than 36 hours, more than $40,000 of the $50,000 target was already pledged. The initiative aimed to fund the production of the first two signature designs from Faire Leather’s The Bond Collection, a briefcase and padfolio.
The company’s designs have an eye for detail, offering a place and easy access for everything from laptop or tablet to keys, cables, business cards and even SIM/SD cards.
Faire Leather offers direct-to-consumer pricing, and as a vertically integrated company has its own factory which has already produced items for several luxury brands.
Data is paramount for the company, which has a JV with e-commerce company Y Ventures Group, which has a proprietary data-analytics system and a presence in more than 20 online marketplaces.
Faire Leather has also held regular focus groups and has set up a chat system on its website to engage with customers.