We invented The Magnetic Patch System™ - the world's first invisible patch mechanism for daily re-styling of your favorite fashion piece. The technology is globally patented and helps generate up to 70% less waste compared to similar textile products.
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Tobias Eder
The Next Generation Headwear
Tobias Eder
Status: closed
Funding needed: € 900.000,-
- Type of business: seed
- Type of investment: equity/ SAFE
- Type of investor: negotiable
- Crowdfunding: no
description
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The problem
- People buy five times as much clothing as they did in 1980.
- 85% of all textiles go to the dump each year without being recycled.
- Mainstream fashion brands design products only for one season. Pieces go out of style fast.
- There‘s no established system for the re-styling of fashion products.
The solution
A system, that let's you re-style your favorite fashion pieces over and over again, without having the need buy new ones.
The company
We invented The Magnetic Patch System™ - the world‘s first invisible patch mechanism for daily re-styling of your favorite fashion piece. The technology is globally patented and helps generate up to 70% less waste compared to similar textile products.
BUSINESS SUMMARY
Product developed in 2020, first customers in 2021, and the official business launch in 2022 - that‘s the story of The Magnetic Patch Cap™ - the first product category in the NEXT GENERATION family. After proving people love our product, it‘s now time to scale up marketing and expand our product catalog.
FOUNDING TEAM
- Previous 8-figure exits
- Former CEO of marketing agency
- Experienced performance marketer (>€5M ad spend)
- Co-Founder of D2C jewelry brand (exited)
CUSTOMER PROBLEM
Fast fashion creates lots of waste and leads to overflowing wardrobes. Our customers are tired of that and want to re-style their favorite fashion piece over and over again. Fewer pieces with more styles are in demand!
PRODUCT
We are building a universe where customers can combine any fashion piece with their favorite patches. Customers choose from existing designs or create their own patches and combine it with our core products or with licensed third-party pieces. Also, practical patches like reflectors or detachable LEDs for runners/cyclists are on the road map.
The investment
So far the business has been bootstrapped by the founders.
TRACTION (incl Q2 2022)
- Global patent valid for all fashion products
- Shop launched + global D2C fulfillment setup (<1% order return rate, apparel avg = 12%)
- +330 D2C customers, + 10 active B2B customers (W Hotel Barcelona, Servette Geneve Football, Proshar, etc)
- €92k revenue (€25k D2C, €67k B2B)
- 7 signed retail distributors for Europe (negotiations for USA & Asia)
- €779k wholesale revenue forecast by retail distributors within first 12 months
- NGHW as licensor: 2 partner brands using our technology within their products
- NGHW as licensee: Standing offer to collaborate with Warner Brothers to launch patches with popular designs (Batman, Superman, The Flash, Looney Tunes, Flint Stones, Harry Potter, Lord of the Rings, Tom & Jerry, etc)
- International PR features like Vogue and GQ
Seeking €900k to achieve
- Launch licensed patch designs
- Launch European retail program
- Develop online product customizer
- Scale up D2C marketing
- Launch new product categories incl kids
- Monthly revenue after 18 months: €280k growing 10% MoM
- Becoming profitable after 18 months
Expected return for seed-investors after 5 years: 10-50x
The spending
What does an investor get?
Investing in NEXT GENERATION means becoming part of the greatest innovation for customizing ANY textile/fashion product - the first and only invisible patch mechanism worldwide! The founding team is fully dedicated to scaling the brand to a global fashion player.
Any type of investor can participate (min ticket = €50k). This means you can be a passive investor or take on an active role if your expertise supports the mission of NEXT GENERATION.
Fashion is like eating, you shouldn‘t stick to the same menu." - Kenzo Takada
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By supporting this project, you support the following SDG goals:
- responsible consumption and production
Meet our striber: Tobias Eder
Sustainable innovation for the fashion industry