Asphalt raises 5 million euros

French ready-to-wear brand Asphalte has raised nearly €5 million in donations. The operation was carried out together with investment companies Quadia, M Capital, regional funds NACO and Kostogri.

Based in Bordeaux, Asphalte stands out for its particular business model. Since 2016, founder William Hauvette has been committed to providing sustainable fashion with a lower environmental impact. To do this, the brand relies on pre-order, a system that determines its production. “We only produce what we sell, so we minimize costs and damages,” the brand says on its website.

Its supply policy is directly based on its customers’ demand in order to combat waste and mass production. Asphalte invites its customers to participate in the creation of all its collections, with mockups that allow them to choose the final forms and colors.

Asphalte likes to be transparent with its customers. Thus, the brand discloses the carbon footprint of each of its products as well as its cost in water and energy. It also communicates with its suppliers, most of whom are located in France and Europe.

According to Sud Ouest, the fundraiser can be renewed every year depending on the brand’s turnover and CO2 emissions. The €5 million is supposed to allow Asphalte to develop its ready-to-wear line for women, which will be launched in 2021. The amount also represents a great opportunity for the company to strengthen its international presence, especially in the Kingdom. The United Kingdom and Germany account for 15 percent of its sales.

In 2022, the brand has managed to retain nearly 150,000 customers. It indicates that it has sold one million pieces and its turnover has reached 23 million euros.

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