Below is our recent interview with Danielle Wilhelm, Investor & Public Relations at HYLETE:
Q: Can you give us a little background on HYLETE?
A: HYLETE is a community built, backed, and driven brand, created on the core belief that premium performance apparel, footwear, and gear does not have to come with a high price tag. Every detail of every design has a purpose; whether it’s fine-tuned for your most intense training session, or optimized for comfort outside of the gym, our dedication to innovation and quality is clear. By selling direct to the HYLETE community, the promise of premium product at unique ‘HYLETE pricing,’ becomes a reality.
Q: What does it mean to be community built, backed, and driven?
A: Our community is a passionate group of men and women who are motivated to lead their best lives and encourage and inspire those around them to do the same. Our community members are not only highly engaged in the creation of our products, but their brand advocacy stems much further than just buying the gear. To date, over 3,800 of our community members now own part of the brand they help build by becoming investors in HYLETE.
Q: What advantages does HYLETE have over its competitors?
A: We build the products our community want. We listen to what our community wants us to design, which is why we created HYLETE project. HYLETE project allows our community to help guide future product decisions. Our product team pushes the limit to design the world’s best performance and lifestyle apparel, footwear, and gear. The HYLETE community then ‘backs’ the new product concept, helping fund the project. Once a project is fully funded, we build it and ship it directly to the backers. To date, we have launched over 30 unique new product styles on HYLETE Project. The initiative has helped us gain insight into the most preferred colors and new products, thereby enabling us to better manage our inventory, and only give our community the products they truly want.
Q: Why crowdfunding?
A: HYLETE has become one of the most successfully crowdfunded brands to date. With three successful rounds on CircleUp, a Regulation Crowdfunding round through StartEngine where we reached $1 million in only two months, and a previous Regulation A+, where we raised over $2 million. We are now in our 7th round of crowdfunding, and currently have an Equity Offering through Reg A+ and are accepting investments from both accredited and non-accredited investors.
Crowdfunding also allows our community to own part of the brand they have helped build over the years. It used to be that only accredited investors could invest. But thanks to the JOBS Act, we are able to accept all types of investors, non-accredited investors included. Our investors receive an investor account on HYLETE.com that entitles them to perks not offered to the rest of the HYLETE community. Some of the top perks include 50% off the retail value on all regular priced apparel, footwear, and gear, as well as free shipping on all orders within the continental U.S.