Atterley, the online fashion marketplace, has seen a drastic surge in sales during the Covid-19 lockdown, experiencing a growth rate of over 200% compared to the same period last year. This remarkable increase in sales has prompted the company to launch a crowdfunding campaign in order to support its expansion plans. Founded in 2016 by Mike Welch, an entrepreneur in the online tyres industry, Atterley operates on a unique business model that relies on boutique partners to provide stock and operate with minimal staff. This allows for safe and continuous trading, even during store closures.
The significant growth in sales for Atterley can be attributed to several factors. Firstly, customers have shown a strong desire to support local boutiques during the pandemic, opting to shop from independent retailers rather than large chain stores. In addition to that, there has been an influx of boutiques seeking to join the Atterley platform since the lockdown began. Currently, Atterley boasts 2,800 live brands on its site and has partnered with over 250 independent boutiques.
To further its goals of expanding into overseas regions, including the US, and enhancing its marketplace technology, Atterley has launched a Crowdcube crowdfunding campaign. The company aims to raise £500,000 through this campaign, with the intention of capitalizing on the changing retail landscape and staying ahead of industry trends. Additionally, Atterley is actively engaged in discussions with venture capital investments.
Mike Welch, who acquired Atterley after it collapsed in 2016, firmly believes that the retail industry will undergo permanent changes as a result of the Covid-19 pandemic. However, he is confident that Atterley and its partner boutiques will thrive in the evolving market. Welch anticipates a decrease in competition once the current crisis stabilizes, which will further strengthen Atterley’s position as a prominent player in the fashion industry. The company’s crowdfunding campaign has already achieved 64% of its targeted goal, indicating positive reception and support from investors.
The success of Atterley during the lockdown underscores the changing landscape of retail and the growing significance of online platforms. With consumers shifting their shopping habits to the digital realm, online marketplaces like Atterley have become essential for supporting independent boutiques and maintaining their sales. The platform’s ability to provide a safe and continuous trading environment has attracted both customers and new boutique partners, leading to its astounding sales growth.
Atterley’s expansion plans, which involve the development of its marketplace technology and the exploration of overseas markets, demonstrate the company’s commitment to staying ahead of the curve. By recognizing the rise of e-commerce and the increasing preference for online shopping, Atterley is strategically positioned to thrive in a post-Covid-19 world where online retail will play a vital role. As the company continues to seek investments and attract new boutique partners, its influence in the fashion industry is set to grow even further.
1. [Atterley Website](https://www.atterley.com/)
2. [Atterley Crowdfunding Campaign](https://www.crowdcube.com/companies/atterley/pitches/bEGwMq)