TRIBE aims to be Europe’s “biggest sports nutrition firm” by 2025 with £1m funding drive
Sports nutrition firm TRIBE has outlined an ambitious plan to become Europe’s “largest sports nutrition brand by 2025”, a process that begins with a £1 million CrowdCube drive beginning on May 15th.
Planning to take on similarly well funded giants like Science in Sport and High 5, the firm set out only in 2015, producing in a parent’s kitchen. Today the business has revenues of £600,000, as well as 25,000 members and Tribe Pack subscribers. The business has enjoyed consecutive month-on-month growth of over 20% since Q3, 2015.
As part of the fundraising phase TRIBE will stage two participation events for prospective investors – a London to Oxford cycle on Saturday, 13th May and a London TRIBE run on Tuesday, 16th May. Members will also be given a four-day exclusive opportunity to acquire shares in the business before the investment opportunity goes live to the public on 15th May.
The new funds will help to aid product development (more due in late 2017), improve e-commerce tech, invest in digital marketing and support the hosting of unique future participation events.
Guy Hacking, TRIBE Co-Founder, said: “TRIBE was inspired by Run for Love, when 250 runners joined us Forrest Gump style on the road. Since then community has been at the heart of TRIBE, and it’s crucial that our community is part of this stage of our journey. We want the runners and riders who we build our products for to own the business.
“All TRIBE investors will play a big part in TRIBE’s evolution. All will be guaranteed a 15% lifetime discount and we will never release a product until every single shareholder has had a chance to road test it. We’re excited to welcome like minded individuals to join the TRIBE.”
From the first neon pink, plastic pouches (sealed with a pair of hair straighteners), TRIBE Packs now feature a selection of 20 innovative natural products – from vegan protein shakes to performance energy and recovery bars. All are packaged into TRIBE’s tailored subscription Packs for members.
The firm’s CrowdCube will go live on May 15th here.
