BEEN London

Idea

Please note that whilst the campaign is labelled as EIS eligible the Company has £150,000 remaining of its SEIS limit. We will, therefore, be looking to seek SEIS relief on the first £150,000 invested into the campaign, with the balance being EIS eligible. Any tax relief is dependent on personal circumstances and may be subject to change in the future.

Introduction

BEEN London is a next-generation sustainable accessories brand turning waste into beautiful products, with customers around the world.

The global climate crisis is driven by the unsustainable extraction of virgin materials. We’ve proven it’s possible to do things differently.

Using only material destined for landfill, we make beautiful, functional products that stand the test of time.

Our zips are made from plastic bottles, our felt lining from recycled KLM and IKEA uniforms, our totes from tannery offcuts reconstructed into leather or a vegan alternative made from discarded pineapple leaves.

Launched on Kickstarter by a former BBC journalist just over a year ago, BEEN London hit its funding target in just over 26 hours.

Just one year on, BEEN is a UK FUTURE 20 startup, a Finalist at the Sustainable Lifestyle Awards, and a profitable company looking to scale up into a global, game-changing sustainable brand.

Intended impact

We want to create products that satisfy the growing global demand for ethically-made and reasonably-priced everyday accessories.

We aim to change the way people around the world make, perceive and buy beautiful things. And we want to make everyone part of the solution, involving local artisans and people with learning disabilities in the growing economy of sustainable fashion.

We know that real, sizable impact is only possible at scale, so our plan is to keep our prices as close to mainstream as possible, while working to the highest sustainability standards:

- We make everything locally in London to avoid unnecessary air miles
- We use purely recycled materials from certified and scalable suppliers
- We design and handcraft with zero-waste: rectangular panels reduce production waste
- All orders are fulfilled by a social enterprise training Londoners with learning disabilities.
- The supply chain is blockchain-verified and publicly available

New sustainable initiatives and production processes are constantly being invented all over the world. We monitor these changes all the time, allowing us to incorporate highly innovative methods and materials into our product.

We want to keep finding new ways to create beautiful products from waste, expanding the range well beyond handbags to become the next-generation global accessories brand with a purpose.

We have a brand people trust, products they love, and the team to take it forward. Now, all we need is you to back our growth.

Substantial accomplishments to date

- Successfully shipped orders to 18 countries worldwide
- Achieved profitability from Year 1
- 17 different products launched, including backpacks, laptop cases and tote bags
- Stocked by a growing number of leading online retailers including Wolf & Badger
- Approved for investment by London Fashion Fund, which funds forward-thinking brands redefining London’s fashion industry
- BEEN London is the only fashion brand ever selected as FUTURE 20 company - the UK’s top 20 startups addressing UN Global Goals.
- Finalist of the Sustainable Lifestyle Awards, Accessories Brand of the Year, 2019.
- Tested and proven significant potential for B2B by collaborating with ODEON Cinemas. BEEN London designed and manufactured corporate gifting for their entire executive team
- Selected by A Transparent Company as their most indicative example of supply chain transparency. Blockchain collaboration presented at Future Fabrics Expo 2019
- Selected by Sweatcoin as the brand of choice for World Environment Day 2019
- Mentored by Burberry’s ex-Vice President as part of the Sustainable Fashion Accelerator run by The Trampery
- Member of NEST Global Artisan Guild, the world’s largest network of artisans

Monetisation strategy

With the sustainable fashion market growing exponentially, we see ourselves occupying a unique niche. Our products look sleek, don’t go out of fashion and are competitively priced.

We want to become the go-to luxury sustainable brand for accessories, eyewear, jewellery and stationery. In the immediate future, we’ll be growing our direct to consumer sales via www.been.london as well as expanding our stockists' network.

Our gross margins are healthy at around 65% across all products. 20-25% commission from online retailers fits within our growth plans.
It is the B2B strand of work which may prove to be even more exciting and profitable. Corporations around the world are desperate for sustainable gifting, stationery, accessories and other branded merchandise.

With our unparalleled expertise in sustainable materials, design and successful collaboration with ODEON Cinemas, we are confident we can grow this substantially and offer companies stunning, innovative and planet-friendly solutions.

Use of proceeds

We have established our brand, built a great team and developed excellent relationships with our suppliers and customers—- giving us a fantastic platform for growth. The proceeds from this raise will be used to accelerate our sales, increase margins and turn other streams of waste into new incredible products.

MARKETING

A large part of our fundraising round will go towards marketing our products, increasing sales and brand visibility. This will include hiring a Head of Marketing to join our team.

INCREASING MARGINS

Being able to buy materials in bulk and manufacture at scale is projected to improve our margins by 5% initially and 10% in the long term. Most of the materials we work with are made by large-scale manufacturers, so we’re prepared to scale.

R&D

We are keen to keep innovating and experimenting with recycled materials to take desirable new products to market. The new funding will make at least two lines possible.