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Dai is a B Corp certified brand, empowering women through comfort-driven performance, style and community

163%
 - 
Funded 14 Jul 2022
£1,000,004 target
£1,636,541 from 210 investors
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Business overview

Location London, United Kingdom
Social media
Website daiwear.com/
Sectors Clothing & Accessories Mixed Digital/Non-Digital B2C
Company number 10409375
Incorporation date 4 Oct 2016
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Investment summary

Type Equity
Valuation (pre-money) £7M
Equity offered 18.94%
Tax relief

EIS

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Business highlights

  • £2M+ annualised recurring revenue*
  • Growing average 127% YoY with Q1 +151% on last year*
  • 50% of revenue coming from repeat customers
  • B Corp score of 97.4 with over 60% Recycled or Plant Based Yarns
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Key features

  • Secondary Market
  • Nominee investment min. £11.76 +

Idea

Introduction

We empower women through comfort-driven performance, style and community.

We are a performance womenswear apparel brand using innovative sportswear fabrics and sustainable materials to deliver versatile, functional design.

(* based on unaudited management accounts)

We are a digitally native, direct-to-consumer e-commerce brand bringing premium European craftsmanship to the contemporary womenswear market.

Beyond products, we are a Certified B Corp™ committed to our people and planet.

HOW IT STARTED

OUR PURPOSE

OUR MISSION

Eastablish Dai as the global go-to performance brand to empower women's lives. By using innovative materials developed by the sportswear industry and designing them for everyday - the sustainable way.

Our time is now. Join us.

Substantial accomplishments to date

2017
• Joanna went to a textile exhibition in Paris to find the perfect performance fabric for tailoring
• Soft launched daiwear.com with 8 styles on preorder
• The Times - "The perfect trousers". Our Power Move™ Trousers took off. We reordered 300 units the next week

2018 & 2019
• Featured in The Times, and Telegraph, Guardian, FT, Independent, Economist, Fast Company, Grazia, and Joanna on CBS and Fox News
• Trinny Woodall in Dai on ITV
• First showroom opened on Whitechapel Road. Hottest day of the year. No AC
• Pop-up in SoHo NYC
• Launched high-rise Power Move Trouser™ for hourglass and pear shapes. We reordered immediately

2020
• Faced a pandemic. Doubled the team. Came out on top. +388% revenue Q2'21 vs Q2'20
• Launched Trouser Fit Finder, our proprietary online acquisition tool w/ over 8k data captured
• Launched DAI DNA™ in-store Body Mapping Experience, helping women find the perfect fit
• Became B Corp™ with a score of 97.4

2021
• Opened stores on King's Road and Marylebone High Street
• Holly Willoughby wore our dress on TV
• Launched eco-friendly jean using 66% less water and first ever circular design made from regenerated yarns

2022
• Opened our newest retail and community hub on Monmouth St. in London's Seven Dials
• Introduced 5-year Quality Guarantee for our Power Move™ Family for all 402 trouser style options
• Founder Joanna Dai featured in CNN talking about return-to-office style
• Planning business growth with team, 3PL and US expansion to come

Monetisation strategy

We generate revenue when customers purchase Dai products on daiwear.com and our localized site for the US, as well as in our retail store on Monmouth St. in Central London.

95% of our products are made in the UK or EU, with 60% made from recycled or plant based materials and we tailor our trousers on request at our atelier in East London. Our brought-in margin is 70%, representing the margin between retail price and production cost to us. 100% of our factories have signed our Supplier Code of Conduct. 72% of our mills are using renewable energy.

We invest in marketing media online and offline to acquire new customers and grow lifetime value. Our proven and diversified omnichannel growth strategy includes: digital, retail, community, print marketing and press.

We’ve grown at an average of 127% YoY, compared to the UK online womenswear market at just 13.9%. Our trouser category has consistently made up 55%+ of revenue, an astoundingly strong metric showing a clear gateway into our brand. Repeat customers making up 50% of our revenue.

Use of proceeds

• Scale our proven channels of growth, including v2.0 tech and data-driven dev and customisation of Trouser Fit Finder

• Grow our team and operations

• Expand internationally, starting with the US

Key Information

Material Debt

The company has an outstanding Director’s Loan of £86,025 at zero interest rate and no repayment plan currently in place.

The funds raised from this investment round will not be used to repay this loan.

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for DAI has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 23 June 2022 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £7,001,512

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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