This former Olympian convinced 180 people to invest in sailing apparel
Australia’s most successful Olympic sailor Mat Belcher was a natural fit to lead Australian sailing apparel company, Zhik, when he retired after the Tokyo 2020 Olympic Games.
The two-time gold medallist was sponsored by the Australian-born brand for more than a decade, making him one of more than 100 elite athletes who have worn Zhik’s jackets, gloves and harnesses across the world.
Now, 180 Australian and New Zealand investors have injected $2 million into the business through a crowdfunding campaign on platform Equitise.
CEO of Zhik, and former Olympian Mat Belcher. Louise Kennerley
Among the major backers are vitamins mogul Marcus Blackmore and long-term partner, Sydney private equity group Nightingale Partners, who will be given early access to new products and technology in exchange for equity.
“We have a really strong and loyal customer base… an evangelist kind of style,” Mr Belcher said. “We wanted to provide a platform that could get our customer base really involved with the journey. What we did find out was that the average investment was quite high… we received more funds at a higher amount than we originally had forecasted.”
Zhik was started in 2003 by the founder of Dolby, Brian Connolly, who had a vision to make high-performance wetsuits for elite athletes after taking up sailing himself.
Mr Connolly began creating clothing and equipment, improving materials and fabrics used for harnesses, shoes and wetsuits. The major point of difference is the hydrophobic polypropylene fibre used in the suits, which can keep skin dry in even the wettest of conditions.
Today, Zhik has 50 per cent of the Olympic sailing market and sponsors more than 100 elite athletes from 23 nations. The company outfits the best sailors
Read more on afr.com
