revenueshareRevenue
Capital at risk
36
Est. Months
14.5%
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Est. Monthly repayments
£

Planks Clothing are back, following their last successful raise with Crowd2Fund. Founded by pro-skiers, the brand is based on experience and community, with a passion for the outdoors and the planet, ethically producing technical ski clothing and streetwear. With strong year-on-year growth, contracts with leading stockists and a new, highly experienced Managing Director, they are raising funds to manufacture stock to support their 2020 expansion plans.

Drop Cliffs Not Bombs!

Founded by ex-professional skier Jim Adlington, Planks is a British ski brand built on our passion for skiing, producing technical performance ski clothing and streetwear. Building a strong following and loyal community amongst seasonaires and holidaymakers alike, Planks has experienced strong year on year growth, turning over £1.65m in the last 12months.

We have a multi-channel approach, with sales through our own eCommerce site growing 69% in 2 years and our B2B wholesale channel has grown 88% in the last 12 months, with leading stockists including ASOS, Snow&Rock and Ellis Brigham. Planks also has 4 unique retail spaces and an accompanying cafe in some of Europe’s top ski resorts including Val d'lsere, Meribel, Tignes and Morzine.

A core aspect of Planks’ identity is our love of the planet. Our design and production team are constantly striving to improve our production techniques to lessen our environmental impact. We currently use Blue-sign approved fabrics and incorporate Repreve recycled yarns into 68% of our collection, recycling over 1 million bottles so far.

We recently on-boarded Derek Bowen as the Managing Director, who is a former national ski coach with extensive experience in the same role at AMG Outdoor and Millennial Brands International. He has a proven, successful track record in leadership, strategic sales operations and brand building. With his leadership, we intend to expand our multi-channel approach, creating strong, supportive and cohesive communities in each resort. Our vision sees Planks as much more than a skiwear company, transforming skiwear’s image, the skier experience and the broader community in a way which Rapha has had on cycling over the last 15 years. To support this growth, we are raising funds to manufacture more stock in preparation for the next ski season in Europe.

X

Business keeps the raised amount even if target is not met.
Revenueshare - product type
Maximum
£ 200k
Raised
£ 142k
Investors
237
Estimated close date
Funded 5 months ago in 32 days

Where will the funds go?

Manufacturing stock
£200,000

Key people

James Adlington
Director
Hugh Clow
Director
Red cup

Investor rewards

The Buckle Up

If you invest £200 - £499
Your choice of free beanie or cap from our headwear collection + 20% discount

The First Lift

If you invest £500 - £999
Your choice of free long or short sleeved t-shirt from our streetwear collection + 25% discount

The Powder Hound

If you invest £1,000 - £1,999
Your choice of hoodie or crew from our streetwear collection + 30% discount

The Fresh Tracks

If you invest £2,000 - £3,999
Your choice of any soft-shell or layering from our outerwear collection + 35% discount

The Snorkel Deep

If you invest £4,000+
Your choice of any outerwear from our outerwear collection + 40% discount

Got a question for the business?

For more information on the business, please login and ask them a question directly.Sign In to Ask

A. Hi Albert, many thanks for the questions. We are working tirelessly with our designers, factories and yarn suppliers to replace as much virgin yarn with recycled yarn as we can and year on year have increased the proportions of recycled yarns in our products and will continue to do so going forward. Furthermore, items where recycled yarns are not obtainable we are looking into up-cycling to reduce the amount of new virgin yarns required.

A. Hi Alan, thanks for your question. Overheads as a % of revenue has declined each year - from 72% in 2017 to 58% in 2020. This trend will continue going forward as the business continues to benefit from operational gearing. Moreover we have invested in products, operations and systems ahead of the curve. The plan going forward is to invest increasingly in commercial staff to drive revenues as the payroll balance becomes weighted towards sales over operations.

A. Hi Constantine, thanks for the question, yes as we have with the last 2 rounds of loan with Crowd2Fund, we have forecast to pay this back early because Crowd2fund calculate the repayment time-frame based on previous year's turn over. However, with our forecast of maintaining our 40% growth, this will enable us to re-pay back the loan in approximately 18 months.

A. Dear Constantine, many thanks for the question - I'm limited to 500 characters here, so have been advised by Russell in the C2F team to create a google doc to give the answer, if you have any further questions or would like to arrange a call, please don’t hesitate to drop me an email to Hugh@planksclothing.com and/or we can arrange a call. Many thanks.
https://docs.google.com/document/d/1cpqr0t4SFy0DuzXXs8vBCZkG4mmCU8fxj134LaD0xa8/edit?usp=sharing

A. Planks Clothing France SARL is a fully owned subsidiary to Planks Clothing Ltd which handles our Mono-Brand retail stores in the French Alps. Nothing is currently owed to Planks Clothing France.

A. Hi Adrian, thanks for the question. We have successfully completed successive rounds since our 1st equity raise in 2016. In 2019 we raised a further £570k equity financing losses through to break even and we have investor consent to raise a further £430k if we choose to. Shareholders include a number of High Net Worth investors and Business Angel Investors and we have also recently completed our 1st Equity Crowdcube round which acts as Nominee for over 200 equity investors.

A. Dear Alan, many thanks for the question - I'm limited to 500 characters here, so have been advised by Russell in the C2F team to create a google doc to give the answer, if you have any further questions or would like to arrange a call, please don’t hesitate to drop me an email to Hugh@planksclothing.com and/or we can arrange a call. Many thanks.
https://docs.google.com/document/d/1cpqr0t4SFy0DuzXXs8vBCZkG4mmCU8fxj134LaD0xa8/edit?usp=sharing

A. Hi Clare, Thanks for the question. Women occupy key roles at Planks HQ including head of operations, marketing manager, wholesale coordinator, and one of our designers is also a women. In France, all of our Planks mono-brand store managers are women. One of our Non Executive Directors is also a women. We also have a a number of female athletes and ambassadors who we support and a full outerwear and lifestyle product collection for women.

A. Dear Zen, many thanks for the question - I'm limited to 500 characters here, so have been advised by Russell in the C2F team to create a google doc to give the answer, if you have any further questions or would like to arrange a call, please don’t hesitate to drop me an email to Hugh@planksclothing.com and/or we can arrange a call. Many thanks.
https://docs.google.com/document/d/1cpqr0t4SFy0DuzXXs8vBCZkG4mmCU8fxj134LaD0xa8/edit?usp=sharing

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Business brand

London, UK

"Drop Cliffs Not Bombs!"

Business stage
Growth
Incorporated
10 years, 7 months
Equifax score
62 / 100
Equifax Grading
powered by Equifax
Higher than average score
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Risk warning

Investments like these involve risks including loss of capital. Please see our risk section before making an investment decision