Seed Round (Legacy)

Question 1

What’s your unique insight?

Answer 1

Fashion now is all about expressing your self.
It’s replacing music as a cultural lubricant and is a sense belonging.

That’s why you see over 70% of Gen Z in researching findings stating that they intend to buy new clothes at least once every month.

This is totally different compared to millennials. For them, fashion is more than clothing.

We want to facilitate and own self-expression for Gen Z.

Question 2

What is unique about your company?

Answer 2

To own your category in fashion, you need to have a community and a unique business model.
We have both!

The way we develop products, we handle inventory, acquire users and position our platform on consumer’s mind is unique.

Not only that but we have decided the way to speak to our audience and are building a cult following. Kind of a religion.

Question 3

What gives your company a competitive advantage?

Answer 3

We have a highly differentiated and innovative approach across the whole business stack
and most important of all we sit on top of a community that amplifies the effect of what we do.

This leads to a multi-faceted attack on the incumbents. It’s impossible to compete on so many levels.

Consumer Facing

Community (can’t buy that)
Authenticity (can’t fake that)
Optimal Experience / Value Prop

Business Ops

Amazing Creative Engine (unique culture)
Data-Driven Product Development (captures the imagination of our customers)
Demand-Driven Supply Chain (low-risk inventory)

Question 4

How big can the company get?

Answer 4

Yes, this is not a micro theme but a macrotrend. We believe that streetwear will be the major casual clothing category for Gen Z and we want to be the ultimate destination.

We are already seeing companies reaching billion-dollar valuations in the streetwear market
(Supreme, Stock X, Goat). companies are primarily targeting limited edition sneakers and we are going after even bigger categories.

We are going after Zara, H&M, Asos and Topshop which they have combined revenues of over $55B.

Question 5

Who owns the product?

Answer 5

I own the tech side of the product
Asimoula owns the fashion side of the product.

We both own the vision!

Question 6

How many employees does the company have?

Answer 6

6

Question 7

What key additions to the team are needed in the short term?

Answer 7

We are looking to add 13 people.

Finance

Head of Finance

Marketing

Head of Marketing
Community Lead
Community Executives x 4

Tech

Full Stack (Tech Lead)
AI Engineer
Data Scientist

Fashion

Fashion Designers x2
Buyer
Merchandiser

Ops / Various

Operations Manager
Customer Service x2
Office Manager
Graphic Designer

Question 8

Why won’t a huge corporation build something like this?

Answer 8

Because you can build, but you can’t fake authenticity, you can’t buy community nor
can match our genuine understanding of the problem and long-term vision.

Also, we feel that instead of trying to destroy this it will make more sense to buy than go after it from scratch.

Question 9

What’s your go-to-market strategy?

Answer 9

Our go-to strategy is to double down on our community and content and take advantage of network effects we have there. Plus support all this with performance-based marketing.

Acquisition

Scale our content creator network of 4,000+ members (mentioned CRM, 150M impression with a parti time girl)
Expand our community to reach to Snapchat and Tik Tok.
Do grassroots events (parties, sample sales,)
PR
Turn on performance marketing channels. Paid socials (Instagram and Snapchat) and SEO.

Retention

Email and SMS lifecycle campaigns.
Customer segmentation per type (low aov, high aov, bargain hunters)
Retargeting and remarketing on socials.

Question 10

How much runway are you getting?

Answer 10

18 months

Question 11

What future equity or debt financing will be necessary?

Answer 11

We believe to reach $1B in revenue within the next 10 years
we will need $60M.

After the Series B, we also believe we will be able to access non-dilutive ways of financing.

Question 12

What are your financial projections?

Answer 12

~$9M in revenue in 18 months

~$600k Q3/Q4 2019

Question 13

What’s the worst thing that can happen?

Answer 13

Seriously? To focus on profitability if we can’t reach our market potential (which I believe this is not an option) or get acquired at small valuation.

Question 14

Why you and not somebody else?

Answer 14

After two years we also learned what is driving this and authenticity is driving this and you can fake or copy that.

What we have also learned is that companies out there are all human (fashion) or all data (e-commerce). That combination doesn’t work you need both of two worlds. Our team has a unique understanding about ops, tech and fashion.

And tbh I’ve never met a tastemaker like Asimoula, it’s like her calling on this earth was to solve this issue and create something massive, both aesthetically

Question 15

Why now?

Answer 15

The democratization of style. Gen Z has a portfolio of fashion interests.

For example streetwear, partywear, sexy lingerie, high fashion. (There is an interesting article called the “Aesthetic Blender” I can send it to you.

We are the platform that you go to for your deep interest (fashion inspiration)
and we cater to their multiple passions.

Question 16

What’s your business model?

Answer 16

We are emulating Amazon’s strategy here. We want to create a revenue stream that is a mix between DTC, 3rd party brands and marketplace. We basically wanna take the best out all three.

Our passion, however, is going deep on DTC, because the data and our creative culture allow us to build amazing products. Plus the margins are way too good ;)

Question 17

So what’s your pitch?

Answer 17

I’d love to tell you what we do. Do you want to go over this using our deck or would prefer to have a chat?

We are a fashion platform for Gen Z consumers.

Fashion is a huge market, close to $1 Trillion but it hasn’t moved much with technology.

What is happening right now is that on top of that you have this new and truly digitally native generation (Gen Z) that is seeking new experiences and has totally different consumer habits and needs (compared to past generations, including millennials).

This has resulted in a customer experience that is broken leaving Gen Z customers underserved by the current players in the market. Product discovery is a big pain point right now!

We’re bootstrapped we haven’t raised any money. We did almost $1M in revenue and hit 400k followers on Instagram last year.