Stellar, rapid growth
The Start-Up Series Fund first invested in April 2019, when the business had their first three cotton product styles – relaxed, classic & luxe – and £6k per month in sales.
Since then the growth has been dramatic. Now achieving over £1/4 million per month revenue (both November and December 2020). They have successfully developed and launched new products, with linen alongside the original cotton bedding, and luxurious quits & throws that are perfect for getting cosy in bed, snuggling on the sofa or for a loving gift.
Jo & Nick have proven they have a brand that resonates, and have created a marketing engine that gets the message out effectively and recruits customers economically – with each customer being gross margin positive even after just one purchase.
There is just as much happening backstage, creating an innovative operating model that delivers competitive advantage. For example, a studio built on the mezzanine level of their fulfilment centre to enable rapid, regular, low cost & high quality imagery, a driver of engagement & conversion on Instagram, Pinterest and in their popular newsletters.
As the business grew and relentlessly hit the milestones set, The Start-Up Series Fund followed up it’s initial investment with further funding in August 2019, November 2019 & April 2020 – to a total of £400k