- Country: United Kingdom
- Industry: Internet, eBusiness
- Stage: Initial growth (first revenues)
- Investment size: $2,700,000 / min. $300,000
- Type of investment: Equity
Funding is required further grow the operations, develop the technology/product and build revenue. Our target market is the 45,000+ physical UK fashion stores.
Every year £1billion is spent by fashion retailers on marketing and over £42bn is spent "in-store" by fashion consumers.
DressMe is aiming to provide a cost effective location based marketing platform for fashion retailers and become the No.1 search app for fashion consumers.
Our product is a location based marketing platform for fashion retailers with bricks and mortar stores. It will be used to drive consumers into their physical stores cost effectively.
Our target market is the 45,000+ physical UK fashion stores.
We will charge a small monthly subscription to each physical store each month.
We have currently signed 8 global fashion brands and have 40,000 visitors each month
We intend to make profit by year 3.
We require £1,600,000 for an equity share in the business, year 5 valuation is estimated at £30,000,000
We are competing mainly with Google and other smaller directory services.
We are different because we are domain focused, so we only deal with fashion stores. Currently this is not being addressed and this is where the opportunity exists.
We are different because we started over 2 years ago and have built a solid team and very good relationships with fashion brands and retailers.
Rationale for the deal
The current opportunity is to take a share of the current fashion advertising sector, worth £1billion. The next step is to target the commission product sales, worth over £42bn. We can charge small transaction fees.
Yes, there is a company called www.just-eat.co.uk which is in the food sector but has a similar model.
I have been in fashion textile all my childhood and spent 12 years of my working life in web, social and mobile. All our team are highly experienced in the field of fashion, software development and web marketing.
Use of financing
We need to do two things.
1. Operation development
Secure commercial team & sign more retailers, grow development team & build our platform and launch & develop our user base.
2. Commercial Ramp-up
We want to accelaerate commercial development, build revenue through enhanced platform features, expand user base, and prepare for international roll out
Opportunity for the investor
We are open about the type of investor.
We are focused on small key milestones to keep the business safe and funding will be aligned to success and completion of set agreements.
We are looking at equity investment upto 40% but want to tie in buy back clauses based on our success. We believe that the company will make revenue over £7million by year 5.
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