Jump to:

Mirror Margarita hero image

Mirror Margarita

Follow

A crystal-clear twist on a classic Margarita, expertly pre-mixed, beautifully bottled and ready to serve.

148%
 - 
Funded 10 Jun 2024
£120,006 target
£218,988 from 147 investors
More
Less

Business overview

Location London, United Kingdom
Social media
Website mirrormargarita.com
Sectors Food & Beverage Non-Digital Mixed B2B/B2C
Company number 13515432
Incorporation date 16 Jul 2021
More
Less

Investment summary

Type Equity
Valuation (pre-money) £1.8M
Equity offered 8.99%
Tax relief

SEIS

More
Less

Business highlights

  • Voted 7th BEST COCKTAIL IN THE WORLD by Time Out
  • Created by experts & authentically 'Bar Quality'
  • Stocked in 178 Sainsbury's stores nationwide
  • In talks with 4 international export markets
More
Less

Key features

  • Secondary Market
  • Nominee investment min. £36.00 +
  • Direct investment min. £40,000.00 +

Idea

Introduction

A show-stopping and innovative ready-to-drink-cocktail range, Mirror Margarita is a crystal-clear reimagining of one of the world's most iconic and popular cocktails. Created by globally renowned agave spirits expert Deano Moncrieffe - Founder of multi-award-winning London bars Hacha (winner of CLASS Specialist Bar of the Year 2022 & 2023, Top 500 Bars 78th Most Influential Bar in The World).

Be it at-home hosting, corporate hospitality or large-scale events and sporting venues, time is of the essence but quality is non-negotiable. Mirror Margarita provides a conveniently ready-to-serve cocktail of unrivalled quality and desirability, expertly pre-mixed and ready to pour over ice.

Traditionally Margaritas have always been made with fresh lime juice and agave syrup – Mirror Margarita uses neither. With the enormous carbon footprint of lime import, mounting strain on the agave industry, and reducing wastage in mind we instead use a mix of citrus essences and acids, which allows for an eco-friendlier recipe of crystal- clear purity that is lower in sugar and conveniently lasts months rather than only days as it would with fresh juice.

Substantial accomplishments to date


* Strategically created to sit in the bullseye of globally thriving drinks trends: Tequila and agave spirits, ready-to-drink cocktails and premiumisation.

* 4 x GOLD MEDAL WINNER - The Spirits Business RTD Masters 2022, 2023 & Global Luxury Masters 2022.

* Launched into 130 Sainsbury's stores in Oct 23. Distribution has already increased to 178 stores in Dec 23.

* Served at prestigious venues such as Royal Albert Hall & Firmdale Hotels.

* An average of 400 Mirror Margaritas are served weekly at our original brand home, Hacha.

* Partnerships in discussion for 2024 with Virgin Atlantic, The Ritz Carlton, Saatchi Gallery, The Crystal Maze Experience and Camp Kerala at Glastonbury Festival.

* The first cocktail in the UK to go from being on a bar menu to being an independent brand stocked on the shelves of a national supermarket.

* By omitting fresh lime juice and agave syrup from our recipe, Mirror Margarita has less wastage and a lower carbon footprint than regular Margaritas. It's also lower in sugar.

* As founders with 15yrs of experience in luxury Tequila and a combined 39yrs of experience in the drinks industry, we have unparalleled expertise in this space.

* We've had interest to export to the US, Cayman Islands, Scandinavia, Germany, France and The Netherlands, and we're just getting started.

Monetisation strategy

Mirror Margarita's monetisation strategy focuses on addressing a market gap by offering a high-quality, ready-to-serve cocktail. By creating a super premium tier within the thriving RTD category, we aim to encourage consumers to trade up or trade over to our premium product.

Since our inception in 2021, we have strategically built a strong community and expanded our presence across various channels. Our turnover increased by 89% YOY in our second year of trading and we are now in discussions with a global distributor to aid growth into tried and tested channels where we have pinpointed high opportunity for growth:

* On trade

- First Class and Business travel
- Corporate Hospitality
- High volume event venues
- 5* and luxury hotels with our 200ml minis
- VIP Nightclubs

* Off trade

- Global Travel Retail
- Luxury department stores and gifting
- Specialist drinks retailers and delis
- Mid and top level grocery

* Events and partnerships

- Wet sales and brand presence at events in fashion, art, music and film
- Partnerships with luxury brands for gifting and bespoke bottlings

Use of proceeds

We intend to invest in five key growth areas:

* New product innovation to broaden our range and ensure there is a MM for every taste and occasion.

* Production at scale, allowing us to pursue and fulfil more high volume accounts.

* Marketing and brand awareness - show up with playful, memorable brand experiences that drive aspiration and reflect our premium credentials, as well as increasing our online presence with ad spend.

* Grow our international footprint into other key markets outside of the UK.

* Recruitment: our small dynamic team of experts is ready to grow, to enable us to scale at pace and export successfully.

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.

Key Information

Debt

The company has the following outstanding loans:

£25,000.00 balance on a business credit card from Capital on Tap at an interest rate of 3.26% per month. The card is used and cleared monthly.

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

Founders Disclosure

Founders Deano Moncrieffe and Emma Murphy also co-own HACHA BAR LTD, with Emma dedicated full-time to Mirror Margarita while Deano divides his time between Mirror Margarita and Hacha. Additionally, Deano is the founder of a CIC - Equal Measures.

Mirror Margarita is featured as the house margarita at Hacha Bar, with Hacha procuring the margarita at a standard wholesale price offered to all customers.

Convertible Loans

The company has the following outstanding convertible loans, which may convert to equity after this round and dilute existing shareholders:

£370,000.00 loan from Diageo, via Distill Ventures, with the following key terms:

Interest rate: 0%

Discount: 15% discount on the price per share of the Qualifying Financing Round

Conversion trigger: £1m in equity funding after the SAFE investment (a Qualifying Financing Round)

Share class: Ordinary shares

Open an account to get access to the team members of Mirror Margarita

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

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

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 webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

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 £1,800,000

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.

Find out more

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.

Find out more

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.

Find out more

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.

Warning

You are following a link outside of europe.republic.com.

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

ContinueCancel