Plumen to light up new markets

Plumen to light up new markets

A Tower Hamlets lighting firm which beat the iPad to the Design of the Year award back in 2011 with its first ever product is set to expand into the US and bring new products to market after raising over £500,000 from its latest crowdfunding campaign.

Plumen, creator of the world’s first premium low energy light bulb, has so far raised £550,000 from its Crowdcube crowdfunding campaign, with the initial aim of raising £500,000.

The funding will facilitate the launch and distribution of exciting new products, and the creation of a new designer smart lighting category.

Conceived in 2007 by world-renowned innovator Nicolas Roope and serial entrepreneur Michael-George Hemus, 76% of turnover currently comes from Plumen’s sales to retailers which include the likes of Amazon, John Lewis, M&S and Urban Outfitters.

The duo now expect to see a change in where sales take place. At present, the UK represents 45% of sales and while the UK will continue to grow, Plumen expects it to become a smaller percentage of overall sales as it invests in other markets such as Germany, France and North America.

“We’re over the moon to be funding past out target now and being in a position to action the plans we’ve been making for some time,” said Roope.

“We are now gearing up for some significant launches that are now only weeks away, so little time to catch our breath.

“And with over 400 new shareholders on board as partners, I can’t wait to see the impact this will have on the launch with this new battalion of advocates in support.”

With warehousing in three continents, Plumen has shipped over 500,000 products to 75 countries since its official launch in 2010.

One thing is for certain, the future certainly looks bright for Plumen.

 

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