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UK - North West
Date Rated:
Valuation (Pre Money):
Industry: Retail
Location: UK - North West
Platform: Crowdcube
£120,000 Expansion
Valuation: £920,245
Date Rated: 09/10/17



Tax Status: EIS

Business Summary

Jimbag is aiming to bridge the gap between fitness & fashion with a range of gym and lifestyle accessories providing a stylish and fashionable alternative to existing products. Jimbag has already sold over 10k bags in the UK and abroad and has secured a German wholesaler. This round of investment will be used to develop a more user-friendly website, to increase the marketing spend and to hire additional staff.

Financial Overview




There is insufficient information available to provide a financial overview



The company seems still quite dependent on the Founder who has limited management expertise and would also benefit from further product development skills.
This is the Founder's first venture, there is limited commercial experience across the management team and there are no experienced advisors on board.
The Founder seems fully committed as he has invested over four years and a material amount of cash as a Director's loan into the business.
The active-wear market is still growing strongly with retailers continuing to broaden their offer. The accessories segment represents about 7% of the market that is worth about £6bn.
Despite evidence of a few quality issues, the product has several positive testimonials. Jimbag is already offering a wide range of bags and has achieved strong social traction.
Top brands are still leading the market but non-traditional brands are quickly catching up and Jimbag aims to compete by offering a wide range of athleisure accessories at competitive prices.
There is insufficient information available to fairly rate this aspect of the business


The Founder has done a great job bringing the business to this stage but the company will need to fill key operations and product development roles to be able to continue to grow successfully and lower the manufacturing costs by the targeted 60%. If that can be achieved this funding round should be sufficient to strengthen the management team and fund the marketing activity required to drive future growth.

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

Related Links

Crowdcube Pitch


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