Isadore Apparel - for cyclists by cyclists - premium cycling apparel by the Velits brothers

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113,75 %   

1 365 000 €

1 200 000 €

The founders of the company, the Velits brothers, spent more than 10 years in the field of professional cycling and in 2013 decided to bring cycling clothing for cyclists to the market. Isadore Apparel offers premium products made from high quality natural and technical materials with an emphasis on functionality, style, ecological approach and sustainability. In its production it uses the rich experience of the founders from the world's largest races and its offer responds to the needs of cyclists, allowing them to fully enjoy the feeling of freedom and pleasure from ride. Over the past 6 years, the company has been able to build a strong online platform and, in combination with a presence on 5 continents, reach thousands of customers with high retention rates. In 2018, it reached sales of EUR 1.9 million, 40% of which in German-speaking countries.

  • For cyclists by cyclists – based on more than 10 years of professional cycling experience.
  • Local production in Púchov (Makyta) together with other Slovak and Czech producers allows for high flexibility, sustainability and ecology.
  • Turnover increase to almost EUR 2 million in 6 years since the company was established.
  • Own global e-shop and direct sale – almost 70% of turnover in 2018.
  • Loyal customers – 40% customer retention generating more than 40% of revenue.
  • International operations – the largest markets are Germany, Slovakia, Austria, Czechia, United Kingdom.

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Find out more at the Crowdberry webinar – 24 June at 4 P.M.

Active – campaign closing
Required capital
1 200 000 €
Number of investors
113
Closing in
Interest shown
1 365 000 €
Minimal ticket
10 000 €

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About investment opportunity

The investment purpose:

  • Global expansion of the brand with a focus on German-speaking countries – to become one of the leading brands in the industry,
  • reaching new target groups – women, younger generation, recreational cyclists, and strengthening the loyalty of existing customers,
  • launching new products and adjusting the product portfolio,
  • investing in offline marketing to build brand awareness, streamlining online marketing, as well as human resources and infrastructure,
  • turnover of EUR 10 million within five years of the investment.

The brothers Martin and Peter Velits, both former professional cyclists with more than 10 years of experience from the largest races in the world, decided to produce cycling clothing and products that they personally lacked during their cycling career. They wanted to respond to the demands and needs of cyclists – professionals and enthusiasts – all over the world. The idea “for cyclists by cyclists” was behind the establishment of their company Isadore Apparel, which specializes in high-quality, highly functional, modern and stylish cycling clothing made in accordance with ethical principles and in the most sustainable way.

The founders of the company work with the fact that cycling is no longer the domain of several enthusiasts, but has spread among the broad masses, which perceive it not only as a sport but as a certain lifestyle. They want to become a widely recognized brand among passionate cyclists, create a global platform and offer everything for an active cycling lifestyle.

This idea is based on knowledge of the cycling market and its growing potential. According to Grand View Research and Reuters, the cycling industry expects an increase to USD 75.5 billion in 2025 with an average expected annual growth of 6.1% over the period 2018–2025. In the cycling clothing industry, it is expected an increase to USD 4.5 billion in 2025 from 2.5 billion dollars in 2017, which means great potential for Isadore Apparel.

The company prides itself on manual production of quality merino materials. It uses MERINO PERFORM ™ fibers that are highly breathable, thermoregulatory, odor resistant and soft to the skin. It enables not only professional cyclists but also enthusiasts to enjoy cycling in comfort in any weather. In addition, the combination of merino materials with special man-made fibers gives Isadore products not only comfort but also high durability.

Isadore Apparel products fall into the affordable-premium to premium segment, they are characterized by premium quality in a variety of colors, cuts and materials for a wide range of customers to enjoy riding, freedom and the most beautiful cycling moments.

Isadore works with certified suppliers who share similar views on the environment and social values. The main supplier in Slovakia is Makyta a.s. Púchov and Isadore also cooperate with smaller specialized Slovak and Czech manufacturers. Thanks to cooperation with local companies, the company is able to respond flexibly to the needs of the market.

Throughout its existence, Isadore Apparel has built a strong, loyal and active customer base with lower price sensitivity, whereby customers are willing to pay for a premium product and contribute to the brand's sustainable approach and values. More than 40% of customers in the database are returning clients who typically place more than one order, generating 43% of revenue in 2019.

During the three years of its existence, the company has become profitable and in 2018 recorded a turnover of EUR 1.9 million. The main sales channels are own e-shop www.isadore.com, selected retail partners and Wiggle (e-commerce reseller). Isadore products are in great demand especially in German-speaking countries with developed cycling culture, but today they are available practically all over the world.

The company is now looking for new ways to reach more customers and new audiences, including younger generations and recreational cyclists, as well as a better way to target the not-ideally served group of the female population. It also plans to expand the product portfolio to include other categories that are important in cycling such as glasses, functional underwear, safety features including helmets, footwear, luggage, e-bike clothing and accessories, children's clothing and more.

In the media: 

 

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