Alpkit chief executive David Hanney

Outdoor enthusiasts are being offered the chance to become shareholders in Alpkit when it holds its second crowdfunding day.

The first such event in 2020 hit its investment target in eight minutes, and closed about 43 minutes later with 1,350 customers as shareholders.

The brand began in the Peak District in 2004, launched by four friends who, frustrated at the price of outdoor kit, decided to make and sell sustainable, technical kit at sensible prices. From a range of t-shirts and frisbees 18 years ago to having 300,000 customers across over 70 countries, Alpkit said it puts planet before profit.

It now produces kit for six activities: hike, bike, climb, swim, camp and run.

This year’s equity crowdfunding offer will take place on 24 October.

Chief executive David Hanney said: “Having customers as shareholders helps us stay aligned to our purpose. And when we do that, our business flourishes.

“We know we’ll still be making great product and doing good things not just in five years but in 25 years.”

Alpkit said it intends to use the money raised in the crowdfunding to gives the company the financial strength to deliver its plan, including increasing its range to include e-bikes and footwear, opening more stores, establishing a European hub and creating 50 more jobs in the coming years.

Part of the money raised, up to £500,000, will be made available to the 1,350 small investors to sell their share allocation if they wish.

In the two years since the first share event, Alpkit said it has been certified as a B-Corporation and Living Wage Foundation employer; doubled in size, and created 100 jobs to a total team of 184 people.

It said: “Alpkit is and always will be digital first. But it’s expanding into experiential stores in key locations, having added five stores in the last two years.

“The nine stores across the UK are hubs for Alpkit’s key values. Providing great products, with great service, showcasing their love for the outdoors, and giving back.

“Rather than supercharged growth, Alpkit is consistently growing a profitable business that’s grown 20-fold in the last eight years. They’ll always stay true to their ethos.”

The Newthorpe, Nottingham-based firm values itself at £15m. The share value two years ago was £5.46 and is currently £7.08, a rise of nearly 30 per cent. Alpkit points out there is a risk in buying shares in the company, as share value can go down as well as up and investors could lose their money altogether if the company performs badly. It aims to raise £2m with the 2022 equity crowdfund, which is being overseen by CrowdCube.

Alpkit, which is a private limited company, said it did not envisage issuing dividends in the foreseeable future, but hopes to offer the opportunity to investors to sell their shares every two or three years.

Current shareholders are eligible to participate in this year’s event. Shareholders are offered tiered discounts on Alpkit purchases, dependent on the level of investment, and twice-yearly receive 20 per cent back on the value of any Alpkit gear bought in the past six months.

Details of the crowdfunding and a pre-registration form are on the Alpkit website.