{"id":48196,"date":"2022-11-18T11:16:05","date_gmt":"2022-11-18T11:16:05","guid":{"rendered":"https:\/\/www.grocerygazette.co.uk\/?p=48196"},"modified":"2022-11-18T13:58:56","modified_gmt":"2022-11-18T13:58:56","slug":"cheeky-panda-new-funding-round","status":"publish","type":"post","link":"https:\/\/www.grocerygazette.co.uk\/2022\/11\/18\/cheeky-panda-new-funding-round\/","title":{"rendered":"Cheeky Panda launches \u00a3750k funding round to boost rapid growth"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\nCheeky Panda has launched a\u00a0new \u00a3750,000 crowdfunding round to in a bid to boost its rapid growth in an effort to take a larger share of the personal care market.<\/p>\n<p>The campaign will go live on next week (21 November) and marks the fifth time Cheeky Panda has turned to the public for investment, with 5,000 backers financing almost \u00a310m into <a href=\"https:\/\/uk.cheekypanda.com\/collections\/household?gclid=Cj0KCQiA99ybBhD9ARIsALvZavXLmpghmhcizruvtK8oBUzbHzKwUJKF_I-EqrVzg7lREaGmUOJ4ErQaAskqEALw_wcB\" target=\"_blank\" rel=\"noopener\">the eco challenger brand<\/a> to date.<\/p>\n<p>The funding round will value the business at \u00a385.5 million, with money raised expected to be invested in marketing to boost brand awareness.<\/p>\n<hr \/>\n<h3 style=\"text-align: center;\">Subscribe to Grocery Gazette for free<\/h3>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/www.theguardian.com\/environment\/climate-crisis\" target=\"_blank\" rel=\"noopener\"><span class=\"x_al\">Sign up\u00a0here to get the latest grocery and food news<\/span><span class=\"x_al\">\u00a0each morning<\/span><\/a><\/strong><\/p>\n<hr \/>\n<p>The business, which makes toilet paper, kitchen roll, tissues, beauty and baby wipes from bamboo, sees plenty of headroom for expansion in the category as consumer demand for sustainable products grows.<\/p>\n<p>CEO Julie Chen, who launched Cheeky Panda with partner Chris Forbes in 2016, said: \u201cA lot of businesses like us benefited from a Covid-related growth spurt but failed to maintain those rates when omnichannel opened back up.<\/p>\n<p>\u201cNot only are we selling more than our Covid peak, but month on month we continue to attract new customers and exceptional growth.\u201d<\/p>\n<p>\u201cThe Cheeky Panda has had success with the likes of <a href=\"https:\/\/www.grocerygazette.co.uk\/2022\/11\/07\/waitrose-empty-shelves\/\">Waitrose and Boots<\/a> but there is still a huge opportunity to grow with the other major retailers,\u201d Chen said.<\/p>\n<p>Sales rose 60% in 2022 to \u00a312m and CFO Tom Mitchell said the business had \u201ca really great pipeline\u201d, with new products being developed and manufacturing in the UK set to start in the first quarter of 2023.<\/p>\n<p>\u201cWe have a major launch with our beauty wipes in Q1 next year,\u201d he added.<\/p>\n<p>\u201cWe can see our turnover growing to \u00a320 million next year and \u00a350m over the next three years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cheeky Panda has launched a\u00a0new \u00a3750,000 crowdfunding round to in a bid to boost its rapid growth in an effort to take a larger share of the personal care market.<\/p>\n","protected":false},"author":50,"featured_media":48199,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3926,1,4871],"tags":[8360,11744,11746,9280,4059,1118,816,2378,11745,83,3753,2127],"_links":{"self":[{"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/posts\/48196"}],"collection":[{"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/comments?post=48196"}],"version-history":[{"count":11,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/posts\/48196\/revisions"}],"predecessor-version":[{"id":48248,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/posts\/48196\/revisions\/48248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/media\/48199"}],"wp:attachment":[{"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/media?parent=48196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/categories?post=48196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.grocerygazette.co.uk\/wp-json\/wp\/v2\/tags?post=48196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}