OLD FORT – Kitsbow, a specialty clothing manufacturer, has raised $850,000 in debt, according to a securities filing.
Seven investors contributed to the round, which kicked off on July 21. The company seeks to raise an additional $150,000, the filing noted.
Kitsbow is a premium clothing brand for cyclists. Started in 2012 by mountain bikers in California, Kitsbow relocated its West Coast operations to Old Fort last year, with a new manufacturing and distribution center.
“We considered 11 different possibilities in the Eastern U.S. with a track record of textile and apparel manufacturing, and it became obvious that Western North Carolina had the perfect blend of talent, daily shipping access, and a spectacular quality of life for our team members,” said David Billstrom, CEO of Kitsbow, at the time.
“I have seen first-hand the resilience and work ethic of the workforce in Appalachia, and that was a major factor in the decision to choose Old Fort in McDowell County for our new Lean manufacturing facility.”
The facility added 53 manufacturing jobs, with an average annual wage of $36,835.
