A fashion marketplace where users buy and sell clothes whilst funding environmental initiatives.
- Featured by Apple as one of their favourite new apps.
- 5,000+ users within the first two months of app launch.
- Over 13,500+ instagram followers.
- Market set to grow by 5x over the next 5 years.
ESOOKO is the ultimate OPPOSITE of fast fashion. We're turning fashion into a force for good.
On ESOOKO, users buy clothes or earn money through selling clothes whilst funding environmental initiatives. Through their buying and selling, they fund their choice of three environmental initiatives - tree planting, coral reef restoration or a campaign that empowers people to create sustainable fashion habits.
Users track their environmental impact through impact counters and earn badges when they hit certain impact milestones.
Second hand fashion is set to be the biggest market in fashion within 10 years and one of the primary reasons it is booming is due to the growing environmental conscience of consumers. ESOOKO taps into this environmental conscience in a way no other fashion marketplace is doing.
As 94% of Gen Z believe brands have a responsibility to address environmental and social issues, our aim is to become the go-to marketplace for environmentally conscious fashion lovers.
Substantial accomplishments to date
- Previously built Beta marketplace for less than £10k and achieved 4,800 signups, 12,500 items uploaded and £35,000 in sales.
- New bespoke IOS app launched on July 5th 2021.
- App has been chosen by Apple as one of their favourite new apps, along with three other mobile applications.
- App was featured by Apple on the homepage of the App Store as one of the "latest and greatest must download apps".
In the first two months of app launch, before paid marketing started, the ESOOKO app has gained:
- 5,000+ users
- 7,400+ clothing items uploaded
- £17,500+ in sales
ESOOKO's social media presence:
- 13,500+ Instagram followers
- Influencers supporting us with a combined following of 500,000+
Partnerships in place with non-for profit organisations:
- Coral reef restoration: coralive.org
- Tree planting: JUST ONE Tree
- Sustainable fashion education: Hubbub
European fashion resale market will be worth £22 billion by 2023.
American fashion resale market will be worth £56 billion by 2025.
ESOOKO currently charges a 6% transaction fee.
In the future we will be adding:
- Premium options for sellers
- Advertising from businesses which have an environmental or social impact aspect.
Both these two additional revenue streams have been proven on other marketplaces.
Use of proceeds
The proceeds will be split between marketing and product development.
- As our core demographic is Gen-Z and Millennials, we will be doing a combination of social media marketing and influencer marketing.
- The focus will be optimising the creatives, copy, placements and audiences with the aim of achieving a CPI of £2 and CPA of £14.
- We will also be introducing a referral scheme to further enhance ESOOKO's growth.
Product Development: 50%
- We will be iterating and optimising current features in the app throughout 2021 in order to ease the buying and selling process.
- Major product development will begin again at the end of 2021.
A portion of the investment reflected in this campaign was received by the Company in the 6 months prior to the launch of the investment round on Seedrs and the Company has started putting this to use.
The company has the following outstanding loans:
1. £25,000 Bounce Back Loan from Natwest at an interest rate of 2.5% per annum. The loan is to be repaid in monthly instalments with the final repayment in July 2026.
The funds raised from this investment round will not be used to repay these loans.
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