The Gold Coast-based social enterprise has announced its acquisition of Melbourne veteran Nobody Denim.
has sold the assets of his business to Gold Coast-based Outland Denim, which will launch a crowdfunding equity raise on Wednesday to fuel its next phase of international growth.reported that Nobody had axed 40 garment workers following the closure of Denim 108 Pty Ltd, which manufactured for the brand.
Outland Denim is a social enterprise that employs women at its Cut and Sew facility in Cambodia, paying them a living wage. The acquisition will allow Mr Bartle to add 25 new staff members to his 100-strong employee base. In Australia, five Nobody Denim staff members have joined Outland.“I’ve known John for a long time through the industry,” Mr Bartle said. “We would often run into each other through the industry.
“It’s a really powerful way of raising capital,” Mr Bartle said. “We have big ambitions to scale into the international wholesale market, which we lost during COVID-19, and that requires capital.” “Equity crowdfunding is quite new for a lot of people,” he acknowledged. “There are challenges – you’re taking small amounts of money from a lot of people. But we have 1800 investors and I’ve never had an issue.” Investments range from $250 to $10,000.
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