Planet Organic

Planet Organic is set to open 38 new stores by the end of 2025

Planet Organic is set to launch a crowdfunding campaign to help support its “ambitious” expansion plans.

The specialist organic retailer recently revealed plans to grow its store estate to a 50-store chain from the existing 12 in the next three years.

The Grocer understands it is hoping to raise between £4m and £5m from investors to help reach that target.

Since the appointment of George Dymond as new CEO at the end of last year, the supermarket has unveiled plans for rapid growth.

It is also currently amid a refinancing process to help support the new strategy.

Planet Organic said the crowdfund would soon launch on platform Seedrs, and that it had already seen several of its external partners “invest in its promising future”.

Read more: Planet Organic sets new store estate target despite losses

“I’m delighted to invite people to join us on this hugely exciting next phase of the Planet Organic journey,” said Dymond.

“A big part of the reason for our success up to this point is that we have a highly knowledgeable, passionate and evangelical customer base, and we’re really excited by the prospect of offering them an opportunity to buy a stake in our business, so they can feel even more a part of its future.

“We’ve got big ambitions and a huge amount of belief in where Planet Organic can get to, and with the support of all our prospective investors and our friends at Seedrs, we can’t wait to see where it takes us.”

Planet is opening its first store outside London, in Henley-on-Thames, later this month. Its goal is to open more stores outside of the capital, particularly in residential areas that are densely populated with its largely middle- and upper-class customer demographic.

However, it has not yet revealed the exact locations of the store openings it has planned for 2023.