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Hēdoïne

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Hēdoïne is fighting throwaway tights culture with award-winning, ladder-resistant & biodegradable tights.

107%
 - 
Funded 20 Jun 2022
£750,014 target
£805,697 from 284 investors
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Business overview

Location London, United Kingdom
Social media
Website hedoine.com/
Sectors Clothing & Accessories Non-Digital Mixed B2B/B2C
Company number 11509037
Incorporation date 9 Aug 2018
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Investment summary

Type Equity
Valuation (pre-money) £6.3M
Equity offered 11.39%
Share price £22.22
Tax relief

EIS

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Business highlights

  • Innovation leader with biodegradable & ladder-resistant tights
  • Fast-growing female-led D2C >100k tights sold since 2019
  • Loyal community - c. 30% repeat sales and very good ratings
  • Experienced team backed by strong investors & advisors
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Key features

  • Secondary Market
  • Seedrs nominee min. £22.22 +
  • Idea
  • Key Information
  • Investor Perks
  • Team
  • Updates
  • Investors 284
  • Discussion
  • Documents

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.

Key Information

Debt

The company has the following outstanding loans:

£250,000 loan from the Greater London Investment Fund. The loan is to be repaid in June 2025.

€100,000 loan from an individual at an interest rate of 10% per annum. The loan is to be repaid in June 2023.

£50,000 bounce back loan at an interest rate of 2.5% per annum. The loan is to be repaid on April 2026.

The company also has the following Merchant Cash Advances:

Outfund MCA of £50K, repaid at 15% of revenue generated.

Clear Banc MCA of £70K, repaid at 20% of revenue generated.

The funds raised from this investment round will not be used to repay these loans.

Direct Investment

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.

Investor Perks

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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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £6,263,596

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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