Hēdoïne

Idea

Introduction

Just a few years ago we launched Hedoine to solve the many, many problems with tights. The ladders, the sagging, the itching, the seams and the pressure marks… as well as the endless waste! We don’t think any item in your wardrobe represents throwaway fashion culture more than tights. Often, they don’t survive a single wear and millions end up in landfill every year. From day one, we’ve made tights more durable by using high quality yarns and special knitting techniques. In the past year we’ve also intensified our focus on the eventual end of life of tights with the launch of our recycling programme as well as our sell-out-success biodegradable tights collection (which degrade within 3-5 years in landfill as opposed to decades otherwise!). Since 2019 we have launched two world firsts, positioned ourselves as innovation leaders and have sold over 100,000 pairs of tights - and we will continue to innovate until we change the entire industry worldwide.

INVESTING SHOULD BE FOR EVERYONE:
WHY WE’RE CROWDFUNDING
Our next step in taking Hedoine higher than our shaping waistbands. We want to make investing accessible to everyone and give you, our incredible community, the opportunity to invest in our growing female-led business.
We’re crowdfunding for 3 key reasons:

1. To make investing more accessible to everyone, especially women (Studies have shown that men are at least twice as likely to make investments than women and that over half of women in the UK have never owned any investments!)

2. To empower our community to grow with us and get your slice of the cake

3. To rapidly progress our journey toward completely revolutionising the hosiery industry globally

Substantial accomplishments to date

•Fast-growing: female-led D2C brand disrupting the $60bn hosiery industry; sold >100k pairs of tights and have generated over £2.2m in revenue since 2019*

•Leading innovation: we’ve launched two world firsts within two years: ladder-resistant seamless tights and biodegradable ladder-resistant tights, more innovations will follow

•Sustainable: responsibly crafted in Italy and the UK, using low waste production methods, expanding our biodegradable collections, recyclable packaging, circular economy program
Awarded: Red-Dot Award for product innovation, Walpole brand of tomorrow 2020

•Loved & trusted: last 12 months 30% repeat sales, AOV £57, in the last 3 months conversion rate is 3%, and since launch CAC Ø£14, ROAS 4.5x, loyal growing community, highest TrustPilot review ranking in our category and great press like Vogue Business, Vogue, Drapers and WWD

•Selectively distributed: while D2C will remain our core focus, we aim to expand our channels strategically online and offline (incl. Selfridges & KaDeWe)

•Global opportunity: Our current largest markets are DACH & UK; we want to take Hedoine global

•Strong Exec Team and backed by well-known individuals in the industry and high-profile investors, including: Former CEOs of Wolford and Louis Vuitton; Former CEO of Jimmy Choo, Founder of HelloBody, German Influencer Agency - ALL IN, Head of global eCommerce at Allbirds, Director at Nike, Partners and Directors of Carlyle and Cavalry Ventures

Monetisation strategy

We have already proven our concept and are in pre-Series A stage. We have sold over 100,000 pairs of tights since launch in 2019 and generated over £2.2 million in revenue*, despite the global pandemic and Brexit obstacles. Over 90% of our sales are direct sales through our Shopify store www.hedoine.com, which we promote via organic and paid channels.

We pursue an omnichannel strategy and cooperate with selective distribution partners such as Selfridges and KaDeWe (wholesale), and Flink (quick delivery service), however, our core remains D2C.

Furthermore, we have a tights subscription service that we plan to expand. This ensures our customers always have the tights they need on hand, with flexible frequency intervals and the possibility to change products along the way.

Our goal is to make Hedoine a global £100m+ brand and we believe we are well-positioned to achieve that goal.

*Based on unaudited Management Accounts

Use of proceeds

35% Market Penetration:
Marketing & Sales - Expansion of sales channels (omnichannel strategy) with focus on online channels as well as offline presence & B2B (Selfridges, KaDeWe, Flink and more to come). Execution of strong campaigns and tools to measure its performance
Geo expansions - Our focus will continue to be DACH and the UK until we reach a deep penetration; we'll then aim for the USA.

25% Products & Packaging: Increase stock levels for growth,
2023+: expansion of product portfolio within the hosiery segment, focus on tights, leggings and innovative socks (patented).

30% Team Hires: with successful funding of target we'll aim to hire a Senior Ecom Manager, with overfunding we aim to hire a Performance Marketing Manager.

10% Tech infrastructure: Upgrades to e-com store (e.g. Shopify Plus), implementation of light ERP system to coordinate logistics + inventory of multiple FCs efficiently.