Crowdfunding venture to have 12 stores open across the UK before the end of Q1 2016, stocking its own-brand product and over 1,500 skus
Fonehouse has unveiled TechHouse, its retail brand specialising in the sale of mobile accessories.
The crowdfunding offer has been made available for investment via www.crowdcube.com, which will enable a fast roll out of the new concept store program.
Four stores are already open at Bluewater, Lakeside, Bromley and Watford and two more before Christmas, with a further six stores mapped out for Q1 2016.
It added the new accessory offering combines fashion with technology and aims to be a major player in the IoT and wearables market in the near future. It will stock its own product and have over 1,500 skus in-store.
TechHouse has also launched a franchise programme to complement its own 50 store roll out and is currently seeking franchisees to join. This will run alongside the existing Fonehouse franchise programme.
Fonehouse Group chairman Clive Bayley (pictured) and TechHouse managing director Lee Skinner will focus on this new business while Group CEO Stuart Joce takes over the running of all Fonehouse Group activities.
It added it will be offering rewards to investors including discounted airtime, accessories and insurance and preferential availability on new products.
The three year bond at eight per cent interest payable quarterly is open to all through Crowdcube. Investment starts at £500, with the aim to raise £1.5 million.
Bayley said: “TechHouse has taken a lot of thought and energy to get it to where it is today, ready to roll out across the UK. We have many new ideas behind TechHouse and they appear to be working better than expected.
“I have always been involved in trendsetting ideas. My band, Mabel Greers Toyshop (early YES), then fashion business (Breed jeans), house wares biz (the world famous Screwball Glass), Franchising in Mobile and now TechHouse (fashion meets Tech).
“I want to roll up all I have learnt and done into this retail offering, in other words, product design, music, fashion, retail environment, marketing, franchising, execution and mobile.”