PARIA

Idea

Introduction

We’ve always had a passion for the irreverent, the independent, and the alternative. Twin this with a love of cycling and a keen eye for design, and you have the makings of PARIA. We set out to create something new for cyclists that couples urban influences with the grit and fervour of the Yorkshire countryside, so we design apparel that looks great and delivers exceptional technical performance.

Most importantly, we don't play it safe with cut-and-paste graphics or done-to-death colourways. We collaborate with small businesses, artists and illustrators to create something inspiring that promotes a friendly and inclusive attitude to cycling, all the way from the cycle lane to the racetrack and the gravelly hills!

We make top class cycling kit which will take some stick and still look good, as well as cyclist-friendly hoodies, sweats and accessories that encourage people to CHOOSE BIKE and have fun getting out on two wheels. Ride hard!

Substantial accomplishments to date

Since launch we have achieved:

- £546,000 direct to consumer revenue to date*

- 323,000 website users

- 10,000 orders

PARIA currently has a 53/47 split between e-commerce DTC sales and bespoke kit for clubs, teams and brands/businesses. Both streams of the business have allowed us to reach an international customer base with global sales from Spain to Singapore.

PARIA also designs and manufactures on/off the bike apparel and accessories, increasing the total addressable market.

Building our community through collaborations and events has been key to our growth - we've nurtured a #PariaFam which is super responsive to the brand and our product launches. This is demonstrated by our 45% returning customer rate.

We've built an engaged social media following of over 60k followers who are super loyal and responsive to content and organic activity

*based on unaudited management accounts.

Monetisation strategy

Future growth plans are focused on dialling up the % share of DTC to target profitability which will allow us to scale efficiently and grow net revenue.

We currently operate primarily through DTC via e-commerce platform, with limited bricks and mortar retail presence.

Whilst focus going forward will be scaling the DTC both domestically in the UK, and increasing market penetration across key international territories (building from USA, Germany, Japan then hitting Australia, South America and further European territories) we plan to work with select distribution partners to drive physical retail presence.

This is underpinned by an enhanced sourcing strategy achieving economies of scale through increased purchasing power and new manufacturing partnerships.

In the short/ medium term - a focused digital strategy combining organic content and tactically delivered paid social will target continued community growth essential to the longer term future growth plans for the brand.

Use of proceeds

Investment secured will be focused on strengthening 3 key areas:

- Marketing: Using the organic following we have built, we are looking to implement a digital strategy which will raise the profile of the brand in key markets and target demographics.

- Product development & sourcing: Using retained industry expertise we will optimise our designs to create multifunctional, sustainable apparel as well as developing new product ranges to cater for emerging trends.

- Resource: Expanding our team will enable us to develop and deliver an efficient growth strategy, so recruiting and retaining talent will be a priority.