An overachieving underwear brand for men focused on responsible future fabrics. New target set at €1M.
Business overview
Location | Amsterdam, Netherlands |
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Social media | |
Website | a-dam.com |
Sectors | Clothing & Accessories Non-Digital Mixed B2B/B2C |
Company number | 61494526 |
Incorporation date | 19 Sep 2014 |
Investment summary
Business highlights
- Revenue x10.9 since 2017, CAGR of 59%*
- Gross profit margin of 50%*
- Focused on responsible future fabrics
- 115,000 D2C customers, 46 countries, 600+ stores
Key features
Idea
Introduction
OVERFUNDING IN PROGRESS: Still open for investment
We are delighted that we have smashed our target, but the round isn't over yet! We will continue to overfund in order to achieve our goals quicker, so don't miss out.
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A-dam is an overachieving underwear brand focused on responsible future fabrics. Our goal is to remove virgin materials from our production process completely, make innovative products that for 100% rely on (re)using waste and by doing so becoming the first circular underwear brand in the world.
Our mission is to make the world extraordinary in every way, starting with the first thing you put on every day.
What makes good underwear?
We believe we can confidently say we're one of the best when it comes to sustainable practises. Using only GOTS certified organic cotton is a good start, though it’s not enough.
It’s why we’re going bananas.
Banana fibre production has a negligible impact on the environment. This fabric is derived from what would otherwise be a waste product, so we’re turning it into something useful: our underwear. Apart from being equally comfortable to organic cotton, banana waste uses zero new land, water, energy and chemicals and that is what in our eyes makes good underwear.
Substantial accomplishments to date
1.) Next to our own e-commerce platform, which is built and monitored in-house, we are now available in over 600 stores in the Netherlands, Germany and the rest of Europe.
2.) We’ve already sold more than 1.100.000 boxers and over 700.000 socks.
3.) Between 2017-2023 we’ve multiplied our revenue by 11 and experienced an average annual growth of 59%.*
4.) We have 115.000+ paying customers with an YTD average basket value of €58,- per order
5.) All our underwear is carbon neutral and offset through various projects such as reforestation, providing clean water to communities and generating renewable energy.
* based on unaudited management accounts
Monetisation strategy
A combination of Direct-To-Consumer and Business-to-Business
A-dam business model is based on various sales channels to provide a unified and cohesive shopping experience for customers (omni-channel). By adopting an omni-channel business model, we can enhance customer satisfaction, increase brand loyalty, and maximise sales opportunities across diverse channels such as: Wholesale and Webshop.
Our Online Flagship Store is fully controlled in-house. The Netherlands and Germany are serviced through our own dedicated sales team. For wholesale we’re working closely together with agents in Belgium, France, Switzerland, the UK and Spain.
Growth through Marketplaces
In the last quarter of 2023 we’ve closed partnerships with various Marketplaces such as Zalando and bol.com. These already have had a substantial impact on sales, so we’ll continue our collaboration with these parties as well as closing new partnerships, that will help strengthen sales in European Markets.
Use of proceeds
1.) Research and Development
We will invest heavily in R&D, so we can revolutionise real sustainability in underwear. We’re in the middle of our research process already and are optimistic about the results so far. Now we’re looking to speed up this process, so with your investment our first banana boxer can still hit the shelves this year.
2.) Scale European Markets through Marketing and Sales
Growth will only come from being disruptive. Apart from introducing a disruptive product that will shake up the market, we’ll invest part of the funding in more Sales and Marketing, to get our banana boxer visible and on as many butts as possible.
3.) Hiring and Payroll
It’s a cliche, but teamwork makes the dream work. It’s why we want to keep investing in new talented people as well as investing in the team we already have. We’re proud of the accomplishments we have achieved together as a team and like to keep growing and cultivating it.
Investors 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
Company Structure:
A-dam Underwear Holding B.V. is the TopCo, and there is one wholly owned subsidiary, A-dam Underwear B.V., which is used for operations. Investors into this round will be investing in A-dam Underwear Holding B.V.
Material Debt:
The Company has the following outstanding debt:
1. A loan of €338,272 from ABN AMRO Bank at an interest rate of 4.15%. The loan was entered into in October 2022 and is currently being repaid through monthly instalments of €8,332.
2. A loan of €400,000 from ABN AMRO Bank at an interest rate of 5.15%. The loan was entered into in October 2022 and will be repaid in quarterly instalments of €20,000, commencing in November 2027
3. A private loan of €421,753 at an interest rate of 7%. The loan was entered into in August 2023 and is being repaid across 60 monthly instalments.
4. A Director’s loan of €411,644 at an interest rate of 7%. The loan was entered into in August 2023 and is being repaid across 60 monthly instalments.
2. A loan of €289,851 from Belastingdienst at an interest rate of 1.73%. The loan was entered into in October 2022 and is being repaid in quarterly instalments of €6,349.
The funds raised in this round will not be used to repay these debts.
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