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Native Products

Platform:
Crowdcube
Stage:
Expansion
Industry:
Retail
Location:
UK - Yorkshire
Date Rated:
06/10/17
Raise:
£150,000
Equity:
15.79%
Valuation (Pre Money):
£799,968
Industry: Retail
Location: UK - Yorkshire
Platform: Crowdcube
£150,000 Expansion
Valuation: £949,968
Date Rated: 03/10/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: SEIS

Business Summary

Native Products is a British grooming brand developed by barbers with its bespoke recipes made in the UK. Native Products has a range of seven men’s grooming products and a further eight in the pipeline and is already stocked across the UK, Europe, Asia & America. This round of investment will be used to strengthen the sales team, marketing and further product development.

Financial Overview

 

 

 

There is insufficient information available to provide a financial overview

 

 

59%
SKILLS:
EXPERIENCE:
COMMITMENT:
The Founders are covering the key roles required by the business as they have developed a balanced set of skills. The company is however extremely dependent on them right now.
The Founders have entrepreneurial and commercial experience and significant industry knowledge. This venture is a completely new challenge though and they do not appear to have any advisors.
The Founders have spent significant time developing the range of products and they have invested £6k into the business.
41%
MARKET:
PRODUCT:
COMPETITION:
The UK grooming market is worth over £600m although it actually declined last year, which may be why the business is now addressing other possible markets.
The product has achieved commercial traction selling at retail and gaining 40 wholesale accounts across several countries and the team is now actively widening its offering.
The top four leading companies account for half of the market and there is an increasingly competitive environment with the entry of numerous small brands.
There is insufficient information available to fairly rate this aspect of the business


Conclusion

Native Products seems quite dependent on the two Founders but this funding round aims to fund the recruitment of a supportive sales team. The company has secured a significant number of wholesale accounts but the business may not yet be in a position to scale given limited storage space and manual distribution.

If the company intends to enter international markets and develop further products, further funds seem likely to be needed, therefore investors should note that a minimum investment of £3.5k is required to secure pre-emption rights. SEIS tax relief is still available in this round.

Note: We have not received a business plan from Native Products and therefore this rating is based on the information available within the Crowdcube pitch.

Related Links

Crowdcube Pitch

www.nativeproducts.co.uk

 

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