Limitless watches clock up crowdfunding cash
Start-up wristwatch business Limitless is on track to raise more than $30,000 in crowd funding cash after 230 Kiwi and international backers piled into their capital raising campaign.
Limitless, which uses the brand name LMTLS, is the idea of two 20-something Wellington friends Marcus Sos and William McClure.
Despite being the smartphone generation, they understand the fashion power of the traditional wristwatch, but are giving it a "millennial" twist with sustainable materials and wholesome, quality appeal.
By Friday, the fledgling company had raised more than $25,000 on the Kickstarter crowd funding platform, with seven days to go.
The pair need the money to press the button on their first production run of 500 watches which are expected to retail for around $150 each.
As an incentive investor giving certain sums of money have been promised a watch as a thank you for their support.
McClure, who is is still studying a nautical science degree at Auckland Maritime School so that he can be a ship's navigator, said there was still something cool about being able to wear a nice wristwatch.
He said: "We both like them from a styling point of view, but there is also a human element to wearing a watch. Yes, you can check the time on your phone, but have to keep pulling it out of your pocket to do that. A watch is actually easier."
Their watch range has wooden bevels and leather straps - all materials which were sourced online. Sos and McClure even found a watchmaker online and worked with him to devise the range which is currently aimed at the men's market. But McClure said there were early ambitions to branch out into women's fashion too eventually.
Marketing for their range is done through social media channels such as Facebook. "Social media platforms are now vital to a small business entering a market and gaining an advantage," said McClure.
"We use Google analytics data to track ad campaigns that are converting into sales. If this happens we increase our budget. If an ad campaign has a negative return on investment we ditch it."
Graduate Sos, who now works in commercial banking added: "In the beginning we had little business experience, but through hard work and self-education we have created a unique watch from scratch, launched on Kickstarter and marketed ourselves internationally. We want to share our
entrepreneur story in the hope of inspiring other Kiwis with business ideas to do the same."
- Sunday Star Times