Vibrant designs, unique printing practices, and an appreciation for retro pop culture have powered Melbourne t-shirt company Threadheads to a $2.2 million equity crowdfunding raise.
Threadheads, founded in 2018 by Ace Reunis and Marcus Siegel, closed its Birchal raise on Thursday night after accruing $2,204,263 in investment from 2544 investors.
The successful raise comes weeks after Threadheads bested environmentally-conscious home supplies company Zero Co to achieve the most expressions of interest of any Birchal raise.
Unlike other clothing companies, which may take pre-orders before printing as many as required, Threadheads uses an on-demand, ‘direct to garment’ model to pump out its designs.
Those designs include licensed depictions of characters from Harry Potter, Sonic the Hedgehog, and Rick and Morty, along with real-world entities like NASA and in-house designs from Threadheads itself.
Most famous is Threadheads’ ‘Get on the beers’ shirt, modeled after Victorian Premier Daniel Andrews’ infamous scolding of partygoers defying the state’s COVID-19 lockdown restrictions.
The ‘direct to garment’ model helps cut down on wastage and minimise returns of incorrect items, saving on cost, materials, and environmental impact for the company compared to other operations.
With the Birchal raise serving as another proof of concept, the company now plans to forge ahead with a US-based production centre, complementing its existing wings in Melbourne and Prague.
Threadheads now plans to boost the range of products it prints on, delve into new sales channels, and broaden the pool of official licenses it can draw from.
Speaking in June after breaking the expressions-of-interest record, Spiegel said there was “proof that our little company is bringing a much-needed smile to people’s faces”.
Threadheads’ nostalgic approach “resonates with both customers and investors, and it’s the reason why our brand has grown so rapidly since launch”, Reunis added.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
