Outland Denim, the Australian denim brand known for its revolutionary approach to sustainability, has announced that they will be reopening the opportunity to become a shareholder from as little as $206. Outland Denim’s unique business model is designed to combat modern slavery, which affects over 40 million people globally.
The announcement follows new research by Kevin Bales and Benjamin Sovacool, stating that the average cost to acquire a slave today is only USD $90. The paper also draws a direct line between slavery and environmental issues, stating that if modern slaves were a country, they would be the third-largest emitter of carbon dioxide in the world, after China and the United States, and that abolishing slavery is one of the most effective ways to mitigate climate change, with the costs of ending slavery equating to about $20 billion, or the expense of a single large nuclear power plant.
“Fashion is one of the most exploitative industries, both to people and our planet. But we are proof that by re-thinking how we make fashion, we can combat modern slavery and put a serious dent in climate change at the same time. We need to stop thinking of the two as separate issues when they are two sides of the same coin,” said Outland Denim founding CEO James Bartle.
Shareholders will be investing in Outland Denim’s textile and circularity research, working to remove textiles from landfill and revolutionize the way we dispose of clothing, as well as Maeka, Outland Denim’s manufacturing arm. Already producing garments for several brands including, Karen Walker and Spell, the investment will facilitate further expansion of production facilities allowing partnership with more brands and, therefore, greater social impact.
Equity crowdfunding follows a similar process to conventional crowdfunding but results in contributors receiving shares in the company. The opportunity comes one year after the brand’s first Equity Crowdfunding raise. Since, with the support of their almost 1000 new shareholders and despite the pandemic, the brand has exceeded their goals for the past 12 months, not only maintained but expanded their workforce in Australia and Cambodia, and are ready to expand their business and impact even further.
The certified B Corporation’s first raise was the fastest equity crowd raise on Australia’s best performing platform, Birchal. The majority of investors are 40 or younger. Approximately 63 per cent of investors are female, and 42% of investors reside in Queensland. Ninety-two per cent are Australian residents and Eighty-three per cent of investors named the company's social justice values as a reason for investing.
“As a business that exists to give women the tools they need to lift themselves and their families out of poverty, we are so proud that the majority of our shareholders are women. They are women truly supporting women,” said Erica Bartle, Outland Denim Communications Director.
Investors will be buying into more than just a denim brand. Outland Denim garments are made in the label’s stand-alone production and finishing facilities in Cambodia, which were founded to offer holistic support, training and employment to young women who have experienced exploitation, human trafficking and other human rights violations. The company provides a living wage, education and other benefits for its staff, and each of its seamstresses is trained across all aspects of garment making. The Rights Lab of Nottingham University has shown the brand’s revolutionary employment model to create a ‘freedom dividend’ - a domino effect of positive impact throughout the worker’s family and the wider community.
Learn more by visiting Outland Denim’s Equity Crowdfunding page on Birchall https://www.birchal.com/company/outlanddenim. Expressions of interest are open from 1 June 2021. Equity Crowdfunding is open from Monday 21 June. Consider Offer Document & CSF risk warning before investing.