We are a start-up athletic footwear and apparel company. We are seeking $1.7 million in exchange for a 28% equity stake. We have IPO/global aspirations.
We also have plans for a food and beverage brand, focused on the sports industry. Initially we will focus on our performance apparel brand, Body Skinz. Body Skinz will compete in the same space as Under Armour.
The founder of the Company, a 15 year practicing accountant, has started it for the purpose of establishing formidable, recognizable brands in the athletic footwear and performance apparel industries.
The Company plans to later enter into the sports drink and sports nutrition business. Initially, we will focus on our performance apparel brand, Body Skinz. Once we have created traction in the performance apparel industry, we will shift our focus to athletic footwear and sports drinks and nutrition.
Body Skinz will design, market and distribute performance apparel, focusing on a wide variety of sporting categories. Body Skinz will compete directly with Under Armour, the performance apparel industry creator and leader.
We feel like we can compete against Under Armour because we have a hot, new unique brand, and we possess a distinctive marketing competency. We will utilize much of the same marketing strategies being utilized by Under Armour, namely employing high-profile professional athletes to sponsor our brand.
We will also sponsor events, high school, colleges and professional sports clubs. Initially, much of the promotion will be done via billboards, mass transit vehicles, a wrapped, promotional bus, our company website and print (sports magazines). At the opportune time, we will do national television advertising. Ultimately, we will attain national retail distribution.
We feel that we can gain competitive advantage over Under Armour because the name Body Skinz is a better, more representative name as it relates to the product.
The name Under Armour suggests gear that is to be worn as underwear, whereas the name Body Skinz suggests gear that can be worn both as underwear, as well as top wear.
To launch our company, we are seeking funding in the amount of $1,738,000. In exchange, we are offering a 28% equity stake. A great portion of the funds will be used for marketing. We will also use the funds for design and manufacturing costs, salaries, an e-commerce website and working capital.
We have aspirations to be a multi-billion dollar, global company. Our exit strategy is an acquisition by a larger competitor, such as Nike or Adidas, or an IPO, within 8 to 10 years.
Our competitive advantage is our hot, new brand name, and our distinctive marketing competency.
Body Skinz will compete directly against Under Armour, the performance apparel industry leader. Other competitors in the space are Nike, Adidas and Reebok.
Under Armour controls 70% of the market. However, the name Under Armour would suggest gear to be worn as under garments. Performance sports apparel is gear that can not only be worn as under garments, but gear that can be worn as top garments as well.
The name Body Skinz would suggest gear that can be worn all over the body. To complement our brand name, we also have a distinct logo and tagline that we will promote. Our logo will distinguish us and instantly and readily identify our gear.
The other competitors, such as Nike, Adidas and Reebok, are not true performance apparel companies. They are footwear companies. These companies got into the performance apparel space purely because the opportunity was there.
They do sell performance apparel under their established brands. However, we feel that we can win against them because one, they are not true performance apparel companies, and two, because of our outstanding brand name, logo and distinctive marketing competency.
The U.S. performance apparel industry is close to $2 billion a year in sales. Globally it is close to $7 billion. The U.S. industry is dominated by Under Armour, who controls about 70% of the market.
The name Under Armour would suggest gear that is to be worn as under garments. The gear may not only be worn as under garments, but as top garments as well. Hence, the name Body Skinz.
In terms of performance apparel, we feel like the name Body Skinz is a catchier, more reflective name. We also have a great logo and tagline that will complement the marketing of the brand name.
Our trademarks, along with high-quality products and our distinctive marketing competency will enable us to effectively compete against Under Armour and others.
The initial funding will be used mainly for marketing. We will also use the funds for design and manufacturing costs, salaries, an e-commerce website and working capital.
We envision two to three more rounds of subsequent funding, including an IPO.
In exchange for $1.7 million, we are offering a 28% equity stake.