3RD ROCK

Idea

Introduction

3RD ROCK is a sustainable activewear brand founded in 2010 with one goal in mind - to make the best and most ethical climbing clothing in the world.

Founded by a team of passionate climbers, the brand has developed a worldwide reputation for extremely comfortable, better fitting, Made-To-Move garments that perform on the rocks, meet extremely high ethical standards, and transition seamlessly into your everyday lives.

With a strong connection to the climbing community, proven products and steadfast ethos 3RD ROCK are perfectly positioned to benefit from the recent explosion of interest in the sport and the crossover appeal of climbing apparel into other activities and sustainable lifestyles.

With wholesale accounts in 12 countries, over 55,000 units sold, and after expert guidance from the Goldman-Sachs accelerator programme, the brand is now ready to enter the next stage of growth.

#EquityforEarthLovers

Intended impact

In line with surging consumer interest in sustainability, 3RD ROCK offers an ethical choice - a tried and tested product range with a cheeky playful voice.

The garments are cut by resident designer and St.Martins trained pattern wizard, Jessica. She makes sure all the styles have the ‘holy trinity’, flattering-fit, made-to-move and cut-for-comfort, that provide the wearer with the conditions to perform better when crushing rocks for breakfast!

Climbing has exploded onto the world stage. It’s inclusion in the 2020 Olympics, and oscar winning documentary “Free Solo” - have helped drive a double-digit growth in the climbing sector.

This has resulted in a new market for technical, style-forward, apparel, that can be worn for active pursuits, as well as everyday wear.

Substantial accomplishments to date

● Revenue to date - £936k*

● 55,000 Garments sold to 20+ Countries

● Own online e-commerce portal - shipping worldwide. This allows us to base our growth plans on existing in-house sales and conversions data.

● All styles designed in-house - an extensive range of sustainable & innovative activewear

● Strong Team: Climbers, skilled designers and industry experts with new non-exec with previous ‘exits’

● Wholesale accounts in 12 different countries with key accounts such as Ellis Brigham (UK), Bergfreunde (DE) and many independent or gym-based shops

● High repeat online customer purchase rate (33%)

● Incredibly happy customer - over 1000 5-star reviews, 96% positive.

● Established ambassador team of world-class athletes represent the brand

● A returns rate significantly under industry averages (13%).

● Over 12,000 plastic bottles recycled into our garments and over 1 tonne of sea waste used in our leggings and bra-tops

● Goldman Sachs accelerator programme alumni

*source: unaudited management accounts

Monetisation strategy

3RD ROCK is a thriving e-commerce and wholesale business. Offering a narrative of outdoor activity and ecological responsibility, there’s an exceptionally strong customer bond based on garment quality, as well as shared values. With high customer retention rates, every customer reached is a potential lifelong relationship.

The current monetisation model is built upon this strong B2C attachment, through 3RD ROCK’s online e-commerce portal. Further, a worldwide network of wholesale clients and athletes supports the brand awareness and reach, through first-hand product exposure in retail spaces, as well as on the rock.

With enormous room for expansion, and rapid growth in the climbing sector, 3RD ROCK’s proven track record with B2C is poised to scale as larger audiences are reached. A highly skilled marketing team will be executing a multi-platform global growth strategy, to increase brand awareness and drive acquisition of new customers.

Use of proceeds

Investment funds will be used to kick-start the next exciting stage of growth. This will involve:

1. Range Expansion & Innovation
Offer customers extra opportunities to integrate 3RD ROCK products into their lives, with exciting new offerings of both clothing and non-clothing items. Broadening the range will ensure that no matter whether performing in the office, the gym, or the great outdoors, it can be done in sustainable style.

2. Focussing On Direct Sales
Going forward 3RD ROCK will focus on a DTC model, whilst still retaining and developing key wholesale accounts. As well as increasing margins, this will develop deeper customer relationships, and facilitate greater control over how the products are marketed and sold.

3. Strategic Hires
With an exceptionally talented team already in place, growth will require some extra hands on the deck. Part of the funding received will be used to make strategic hires, driving DTC growth, expanding the range and penetrating into exciting new markets

Investor Perks