D2C luxury bedding brand, specialising in eucalyptus and other sustainable materials.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | ethicalbedding.com/ |
| Sectors | Home & Personal Digital Mixed B2B/B2C |
| Company number | 12452401 |
| Incorporation date | 10 Feb 2020 |
Investment summary
Business highlights
- 10,000+ units sold in over 32 countries
- £250,000+ revenue* in 12M to Dec '22
- Awarded 'Best For The World' for Governance by BCorp (2022)
- Featured on BBC One Dragons' Den
Key features
Idea
Introduction
We believe the world doesn’t need more products – it needs better versions of existing products.
Ethical Bedding perfectly combines sleep, quality and sustainability.
Our goal is to transform sleep.
We recently signed an agreement with Immaculate Vegan and now have sales in over 30 countries. Our primary market is the UK where we have sold over 10,000 units.
Our hero products are our bed sheets, which are made using 100% eucalyptus Tencel.
When compared with cotton, eucalyptus is softer, more breathable and more hygienic - creating near perfect year-round sleeping conditions.
Importantly, its estimated that eucalyptus sheets use 30% less energy, 96% less water, no farmable land, no toxic chemicals, and no pesticides.
Ethical Bedding is BCorp certified (winner 'Best for The World' 2022), and we proudly donate 1% of our revenue to global sustainability initiatives.
Substantial accomplishments to date
🌱March 2020 - December 2020
- Virgin Startup approved with funding provided
- MVP v1 of eucalyptus sheets designed and manufactured in Portugal
- Proof of concept tested and passed in UK market
🌱 February 2020 to March 2021
- New v2 products launched - including duvets, pillows, toppers and protectors
- Surpassed 100,000 website visitors from Jan 20 to Dec 21
- Officially BCorp Certified
🌱 February 2021 - March 2022
- First £30,000 revenue* month
- Surpassed 200,000 website visitors from Jan 20 to Dec 22
- 15% Return Customer Rate, with plans to increase as product range expands
- First appearance at Ideal Home Show
- New products launched: all natural fragrances range
- First £20,000 revenue* month
- Hired: ex-Gymshark Affiliate Marketing Executive (Gymshark valued at $1.3bn) as Affiliate Marketing Advisor on a consultancy basis
- Awarded 'Best For The World' 2022 for Governance, BCorp
🌱 February 2022 - March 2023
- First £40,000 revenue* month
- Surpassed 400,000 website visitors from Mar 20 to March 23
- NatureCore Luxe Mattress launched
- Featured on BBC One's Dragons' Den
*Revenue data from unaudited management accounts.
As seen in Press Publications such as:
- Good Housekeeping, Real Homes, Home & Gardens, Women & Home
Newspapers:
- The Guardian, The Times, The Independent and Evening Standard
and Magazines:
- The Spruce, Glamour, OK, Harpers Bazaar
Monetisation strategy
We acquire and retain customers using a blend of online and offline owned, earned, and paid channels, which includes:
- Email marketing
- Social
- Search
- Video
- Digital PR
- Influencer
- Affiliates
After expanding our product range, a key focus will be increasing organic growth and nurturing existing customers:
- Referral scheme
- Loyalty scheme
- Direct mail
Additionally, James is becoming increasingly active in promoting the brand and vocalising the need for shift in consumer consciousness:
- Podcasts
- Speaking events
Ethical Bedding is positioned as a premium brand in the D2C bedding market. We believe we still appeal to a wide audience given ever more conscientious consumers.
We have plans to build relationships with interior designers, holiday rentals, and boutique hotels, as a revenue stream and an opportunity to acquire new customers.
Our 2023 goal is to have 10% of monthly revenue from trade customers.
Use of proceeds
With your support we’ll utilise this investment on three key areas.
- Product: Kimonos, robes and towels. Expanding colour range of core products.
- People: We have a strong team working with us on a consultancy basis which has been carefully built over time, which we plan to expand in line with any growth we experience.
- Brand: Our creatives need a refresh to match the quality of our products, which includes high quality video and bringing more vibrancy into our photography. Elements of user journey and UX on mobile website are also in our plans, with a web refresh.
"I'm incredibly proud of what we have achieved so far at Ethical Bedding, but our journey is only just beginning. So whether you are a customer of ours or an investor, thank you so much for your support. It all contributes to helping move the needle (please excuse my stitching related pun) in a world that needs a little more love, kindness and compassion."
James Higgins, Founder & CEO
Key Information
Debt
Please note that the company has the following loans outstanding:
1. £281,430 in director's loans from the founder. This loan carries no interest and will be repaid when the company is in a position to do so.
2. £45,833 Bounce Back Loan with Starling Bank charged at 2.5% interest. The loan is to repaid by 21st Feb 2031.
3. £12,680 working capital loan outstanding with PayPal. Charged at 0% interest, repayments taken from funds processed through PayPal monthly at £555 per month.
4. £18,822 working capital loan outstanding with Shopify. Charged at 0% interest, repayments charged at 14% of daily revenue processed through the Shopify store.
The funds raised as part of this round will not be used to repay these loans.
Tax Relief
The first £250K raised as part of this round will be SEIS eligible on a first come, first serve basis. Any funds invested over £250K will be EIS eligible.
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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