Quarter8, the London-based online marketplace that connects British brands directly to consumers in China, today launched a bid to raise £100,000 via the Seedrs crowdfunding platform.
Quarter8 has already amassed nearly 30% of the total prior to launching, and is now looking to investors to back the idea.
Quarter8’s mission is to help small and medium-sized businesses in the UK sell to China in a smooth, safe and efficient way, without having to set up their own individual sales channels. The export process can be complicated, expensive and time consuming because of the many cultural, legal and financial differences between the two countries.
Quarter8 offers firms the chance to go direct without jumping through bureaucratic hoops. The online marketplace is already showcasing more than 20 British brands and early sales are increasing.
Jian Goh, CEO and co-founder of Quarter8, said: “Our aim is to make selling to China much easier for smaller brands in the UK. There is an enormous opportunity because of China’s staggering economic growth in recent years. We want the ‘Made in Britain’ label to benefit.”
When it comes to consumer goods, there is no better reflection of China’s spending power than Singles’ Day, the country’s equivalent to Black Friday or Cyber Monday in UK. Spending this year broke all previous records. China’s biggest online retailer, Alibaba, registered a record breaking $17.8bn sales during the 24-hour period, 24% higher than 2015 figure of $14.3bn.
Chinese Vice-Premier Ma Kai’s visit to the UK last week indicates a greater focus on trade with China, with Theresa May describing a “golden era” of trade ties between the two countries.
“China is a massive economy with huge spending power,” added Goh. “Singles’ Day shows the staggering scale of demand for consumables, especially when it comes to products designed and made in the West.”
Ensuring products really are made in Britain is a vital ingredient to the Quarter8 offering and they are working closely with the Made in Britain Campaign, which supports and promotes British manufacturing. With co-founders John Cully, Vivian Xia and a host of experienced advisors with local market knowledge, Quarter8 is putting quality British makers and sellers in front of tens of millions of new consumers, who love the quality and heritage of British made brands.
For more information about Quarter8’s mission, please see: https://www.seedrs.com/quarter8
FOR ALL ENQUIRIES PLEASE CONTACT: Jian Goh 020 7993 4727, PR@quarter8.com