Luggage brand Peak Design raises 11 million euros

Peak Design raised 11 million euros in a recent crowdfunding campaign on the US crowdfunding platform Kickstarter.

The US camera bag and luggage manufacturer announced on Thursday that it exceeded its funding target of 88,000 euros - the target amount was stated as 100,000 dollars - within 14 days for the launch of its new Roller Pro line of suitcases. It was the company's 14th crowdfunding campaign, with 23,589 backers participating.

Peter Dering, chief executive officer (CEO) of Peak Design, stated that through these campaigns, in which participating fans of the brand are rewarded with up to 29 percent off a suitcase from the new line, they want to remain independent of external investors and can develop products in a market and customer-oriented manner through this transparent connection to the community.

The US brand was founded in 2010 by Dering.