Coral Eyewear opens investment round

Coral Eyewear has launched a fundraising round to support its ambitions to expand.

The sustainability-focused brand launched in 2019 with a focus on creating glasses and sunglasses from recycled plastic.

The brand was established by father and son team, George and Calvin Bailey. Calvin has more than two decades of experience in the optical market, while as a student at the University of East Anglia, George secured the UEA Enterprise Fund along with funding from TV presenter and podcaster, Jake Humphrey.

Since its launch, Coral Eyewear has formed a licence agreement with Williams Racing Formula 1 and a partnership with the Lawn Tennis Association. Last year the brand opened a sunglasses store with Virgin Voyages.
 
Introducing the crowdfunding drive, the brand hinted that a new distribution agreement with an Australian-based business is set to be announced in the coming weeks.

The brand has more than 100 stockists across the UK, US and is set to grow in the Australian market.

The crowdfunding campaign on Crowdcube enables supporters of the brand to invest from £18. 

George Bailey, co-founder of Coral Eyewear, said: “I’m excited to be able to offer our customers and wider community the opportunity to own a part of Coral Eyewear’s future.”

“The response so far has been incredible and it’s nice to see so many individuals across the eyewear industry supporting the campaign,” he added.