High-quality, affordable and fashion-led sustainable eyewear

15 december 2022

This company sells sustainable eyewear. The business was founded in 2020 and currently sells eyewear via retailers and a basic eCommerce site. The key consumers for the business are Millennials and Gen Z (The Patagonia Generation).

The main problem the business solves is providing high quality, well-designed fashion-led and fully sustainable eyewear for Millennials and Gen Z customers. The eyewear market is expected to have a CAGR of 8.4% between 2022-2030.

Startup sunglasses funding

Business model:

The current business model is mainly based on selling sustainable eyewear via a fashion retailer network. Our future model is to build the direct to consumer business via a state-of-the-art eCommerce site, flagship stores and drive the existing retail network moving strongly into the wider optics category.

Customer type / profile:

B2B & B2C

Preferable investor type:

Angel Investor, Venture Capital, Strategic investor

USP’s:

The company is unique as it is currently the only brand in the category that provides fully accredited sustainable eyewear high quality lenses, fashion led design collections at a price point below 100 euros. We believe this unique combination of quality; sustainability design and price point will be the winning formula in the category.

Capital amount needed:

€1.000.000,-

Investment need:

  • Purchase of next product range €309.000,-
  • Updated web and eCommerce site and marketing €81.000,-
  • Employment of core team €201.000,-
  • Logistics and warehousing €45.000,-
  • Other operational costs €154.000,-
  • Auditing, legal and accounting €31.000,-
  • Fixtures and fittings for retail €25.000,-
  • Other €154.000,-

Sector:

Consumentengoederen, E-Commerce, Fashion, Groothandel, Impact, Retail

Phase:

Early Growth

Number of founders:

2

Current number of employees:

2

Experience founder(s):

Founder 1:

Key Competencies include Strategic vision setting, Operational Planning, Brand Management and Marketing, Financial Management.

Experience: CEO and board level background in multinational companies including The Body Shop, Levi Strauss, Samsonite and Grand Vision. Extensive experience in E2E processes in global omni channel retail and sales including the optical category.

Founder 2:

Key Competencies include Logistics management, leasing and franchise management, retail and commercial real estate management.

Experience: Senior executive positions including key commercial development roles at DESIGUAL, INDITEX and EROSKI. General Manager INDITEX Spain.

Monthly turnover (current):

€16.000,-

Turnover (forecast) next 12 months:

€897.000,-

Turnover (forecast) months 13 – 24:

€2.230.000,-

Current monthly expenses:

€10.500,-

Other relevant information:

The founders have invested €94.000,- which includes product, logistics, all other costs. Strategic brand and positioning work has been completed in the last 2 months. Until now there was no third party investment done.

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