Lick Starts Crowdfunding Drive to Boost Frozen Yogurt Brand
Lick, the Brighton, England-based frozen yogurt maker and distributor, has launched a crowdfunding campaign on investment platform Crowdcube, as it aims to generate to £200,000. It is putting 6.25% of the company up for grabs by private investors in order to enhance “growth with major retail partners,” boost trade marketing, and stimulate brand awareness through “traditional initiatives as well as guerrilla activities.”
With flavors ranging from fat-free tubs of Banana & Honey to Strawberry & Elderflower to Blueberry & Raspberry, Lick is currently stocked in the UK at Sainsbury’s, Waitrose, Ocado, Yo! Sushi, Wholefoods, Picturehouse Cinemas, Southern Co-Operative, BHS Restaurants, Planet Organic, As Nature Intended, a growing number of London’s Best Delis, Holiday Inn and other outlets.
The company, founded by Ky Wright and Owain Williams in 1998, is floating both A-type (with full voting rights) and B-type shares, and has thus far raised more than £76,000. The current offering values the business at just over £3 million.
“Lick aims to become the leading face of frozen yogurt in the UK, Europe and beyond,” according to its Crowdcube pitch said. “We plan to begin exporting this year and already have significant interest from several potential European customers. We believe we have only realized a small part of Lick’s potential, but have achieved enough so far to have complete confidence that our product and brand is the absolute best in the market.”