Crua Outdoors designs and develops thermally, acoustically, and light insulating tents or 'Cullas'.
|Travel, Leisure & Sport Mixed Digital/Non-Digital Mixed B2B/B2C
|26 Nov 2014
- C. $2.4M Revenue in strongest year (2021)*
- Raised $4.3M in Product Crowdfunding to date
- Gross Margin grew to 65% in 2022*
- Over 20,000 Products Shipped to +100 Countries
Crua Outdoors designs and develops thermally, acoustically, and light insulating tents or 'Cullas'. The company incorporates cutting-edge material technology into its unique designs to make life on the go more comfortable. Our mission is to provide campers everywhere, the best night's sleep in the wild.
- Industry Niche: Tent Temperature Regulation & Modularity
- $4.3M Equity Investment Raised to Date
- $3.7M*+ Generated Through New Product Introductions
- Addressing $689B (in USA) Outdoor Recreation Sector
- Goal of public listing or M&A event
- Possibility of Becoming an Industry Aggregator
Survey carried out by Crua Outdoors, in December 2022, with a total of 942 Respondents.
The thought of a bad night's sleep in a tent is a major problem for campers, and prospective campers. Always Too Hot, Too Cold, Too Noisy, Too Bright.
Insulated tents provide a more comfortable camping experience by regulating the temperature inside the tent. This results in a better night’s sleep and a more pleasant camping experience overall.
*based on unaudited management accounts.
Substantial accomplishments to date
CruaBreatheTM Technology uses a soft polyester outer layer and a thick hollow fiber polyester inner wall to provide the best insulation possible. This is designed to resist the conductive flow of heat, keeping the warmth generated by you and your camping companions inside your tent when it is cold, or the heat out when it is hot outside. This CruaBreatheTM Technology is at the core of our Culla Series inner tents.
Straight from Our Community!
“CRUA has changed camping for the better! - I now have several of the CRUA products including the xTent, the CRUA Culla Solo, the CRUA Haul and the CRUA Culla MAXX. Everything is of the highest quality and works exactly as designed. It has completely changed my camping experience. Thanks.”
Traction: We've built solid Foundations, and now we're pushing for Growth
CRUA has incorporated Equity Crowdfunding into our strategy, right from our inception. Since the start, our community has been central in everything we do.
Product launch platforms are a perfect way for us to garner interest levels in our designs before committing to big orders. It also helps ensure that we get payment before placing orders, thus limiting risk. The platforms also help build brand awareness.
Direct to Consumer Omni-Channel Approach
CRUA’s business model is primarily based on direct to consumer online sales through our own website - cruaoutdoors.com (recently upgraded to Shopify Plus Enterprise package to enable scale) and carefully selected third party marketplaces and drop-shippers such as Amazon and Bass-Pro.
Our Gross Margin currently is at c. 65% in 2022 and we’ve implemented changes through which we aim to raise this to above 70% in 2023/2024. We’re now also aiming to improve contribution margin and break-even at the bottom line in the same period. We've prioritized building excellent unit economics in 2023.
Our target audience is male, 40+ y/o, professional with an above average disposable income, primarily in the USA. This means that premium quality, performance and service are key, rather than price sensitivity. And, our USP gives us the opportunity to own this space. Hence the development of our R&D facility.
Use of proceeds
Outdoor recreation is an enormous sector, which in turn offers CRUA a brilliant opportunity to disrupt and grow quickly, based on solving a very widespread problem.
According to Statista, 2023, "Worldwide Camping Market Revenue is projected to reach US$43.89bn in 2023, and is expected to show an annual growth rate (CAGR 2023-2027) of 9.12%, resulting in a projected market volume of US$62.23bn by 2027."
In order to take advantage of the opportunity before us, we intend to spend the funds raised in this round on the below:
- Working Capital/Stock
- Increased Marketing Activities
- Growing the CRUA Team
- Research & Development
- UX & UI Improvement across US, UK & EU E-Commerce Stores
The Company has the following outstanding loans:
1. $65,490 (USD) financing loan from Shopify Capital. The loan is to be repaid via commission charged on Crua’s daily revenue through Shopify which stands at 17% remittance rate. The current balance outstanding is $43,072.82 as of 12/04/23.
The funds raised from this investment round will not be used to repay these loans.
Employment & Investment Incentive Scheme (EII):
For Irish Investors the Company has previously been eligible for EII tax relief. After the close of the round the Company will arrange with any Irish Investors looking to seek EII tax relief.
Tax treatment depends on individual circumstances and is subject to change. Seedrs is not responsible for any part of the EII tax relief scheme process.
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
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