Sophie Doyle, CEO of Alf the Label on Global Expansion
Sophie Doyle, CEO and Creative Director of Alf the Label, is crushing it.
This week it was announced that Alf the Label will be stocked in couture New York City boutique, Flying Solo in Soho. And to coincide with launching in the US, they will become the first ever parenting brand to take part in New York Fashion Week in February 2023, as part of the Flying Solo “Ones to Watch” runway show.
Founded in 2016, the brand has seen remarkable growth, has shipped over 26,000 products worldwide, sold $3.3 million in bags and accessories and had revenue grow 916% in the past four years.
Now Alf the Label is primed for global expansion after recently completing an equity crowdfunding campaign through Birchal, where they raised $148,947.20 from 117 investors.
Bootstrapping Alf the Label to success
Sophie is driven, determined, ambitious and has bootstrapped Alf the Label to where it is today, which is now valued at more than $ 4 million, before deciding to seek investment and choosing the equity crowdfunding route.
It was a really big decision as when you take on shareholders you obviously have a lot of things to consider. They're there to support you. You can use their skills and experience in certain areas. You know, we've got a lot of shareholders that have invested so far who have already reached out to say, "Hey, this is what I do in my day-to-day job. I'd love to be able to help you if you need help in this area". So I think that's really exciting. But now we've got more people that rely on us to make a return on their investment is daunting. You can never promise anything. So I think it definitely is a big step for a brand to take on shareholders because it still is me making the decisions, but it's affecting more than just myself and my family now.
The equity crowdfunding approach
Equity crowdfunding is an opportunity for small businesses and startups to tap into the ground floor investors; who are already supporters and fans of their products and brands.
It has proved to be particularly successful for female founders, unlike traditional funding sources such as venture capital, where there is a disconnect for female-led businesses. In 2020 female founder businesses raised 25% more equity in their crowdfunding campaigns. This could be because female-led businesses tend to have a higher ROI (78c for $1) than their male counterparts (31c for $1).
As a digital e-commerce brand, one of the big goals for Alf the Label is to get into key physical locations within Australia and internationally.
Currently no one can actually touch and feel any of our products anywhere, we want people to be able to go see and feel the high quality of our products. Our aim is to expand globally and reach more women, so we have built a highly scalable business; this year we invested heavily in our systems and processes and our team is ready. Our relatively stable operating costs and high margins are our superpowers, as we drive sales higher, our profit is realised very quickly. We have a huge demand for our products, but we need to service supply. Many of our best-sellers just keep selling out. We have a loyal community of customers, but we need to get our product in front of more parents through further investment in digital marketing. Businesses want to work with us, and we have some large wholesale partnerships in the works with more on the list. It’s an exciting time and doors are opening for us!
We Are Emersyn uses an inclusive definition “female” and “women” and we welcome trans people, women, genderqueer women, and non-binary people who identify, have identified, or have been identified as female, women, or non-binary.