Musuchouse Ltda of Santiago, Chile announced it had closed a financing deal to launch its U.S. subsidiary, Selkbag USA, Inc., effective May 1, 2013.
The deal allows the 8-year old Musuchouse a more prominent and controlling foothold in the global outdoor industry for its award-winning line of Selkbag Sleepwear System products. Already distributed in more than 63 countries around the world, the U.S. subsidiary is receiving substantial funding from an outside investor group as the most important market for the Chilean- based design house.
Musuchouse, a certified B-Corporation (www.bcorporation.net), has been recognized as one of the premier high-impact start ups in Chile by Endeavor Global (www.endeavor.org) and has received considerable recognition for its past successes and future potential. This success allowed Musuchouse to attract investment group backing, which includes Chilean moguls from the finance, mining, telecommunications, consulting, and entertainment industries, among others.
We are very fortunate and blessed to have such a high profile and capable group of investors backing our company, stated Cristobal Murillo, co-CEO of parent Musuchouse and Vice President of the new Selkbag USA. The value that the investors bring to our growth strategy goes well beyond the financial commitments made. These investors are very savvy and are supporting our efforts in a myriad of ways. In addition, we are bringing our B-Corporation standing and business practices to our new U.S. subsidiary.
Heading the new company is outdoor industry veteran Philip Benson, who comes to Selkbag USA as the owner of Sierra Marketing Partners (formerly Mountains Best Gear), the former distributor for the Selkbag Sleepwear System. Sierra Marketing Partners is the current agent for Zamberlan USA, Inc. Prior to his work in the outdoor industry, Benson spent time as a management consultant with LEK Consulting, as well as with such companies as Kimberly-Clark, Harley-Davidson, The Walt Disney Company and Warner Music.
Im very excited for the opportunities presented to our company today, said Benson. We have massive untapped potential in our market and with the new backing we will be very aggressive in developing existing and new opportunities. We have exceptional conviction that our brand and line of products is the most exciting in the industry today.
In addition to the investment news, the company also announced major new IP protections that have been secured in both the U.S. and other foreign markets. These new IP protections take a major step forward in offering the company total protection in its Sleepwear System designs. Additional information will be made public in the coming months.
Included in the companys growth plans are developing the market for existing products, including the Selkbag Original, Selkbag Lite, and Selkbag Kids products. In addition, the company is rolling out their new technical, high-end Selkbag Patagon (MSRP $259), which features removable booties and substantial design upgrades later this summer.
Finally, the company is currently working on licensing deals with several major third-party brands, particularly for its kids line of products, with 2014 launch dates.
The Selkbag is named for the lost Selknam natives of Tierra del Fuego, Chile. Originally created by Rodrigo Alonso of Musuchouse in 2006, the Selkbag wearable sleeping bag has won numerous awards including being named an ISPO Brand New Award finalist in 2007.