Nudea engineer beautifully crafted sustainable underwear that deliver on fit, style & comfort. Unique fitting tools, a body-inclusive ethos and an online-first approach has seen them grow through the pandemic. Their lingerie revenue is up +157% online in CY 2021 to £213k. Fundraising to launch new product categories & widen distribution.
Covid has expedited the need for a modern approach to Bra shopping. Customer demand has shifted; driven by comfort, fit, inclusivity & sustainability. Having launched before the crisis, Nudea was created with this vision and are primed to leverage this shift.
We have a fast-growing profile in the press, regularly featured in Vogue, Marie Clare, The Daily Mail, Woman and Home, The Standard & The Times. Most of our sales growth is through our online DTC business, which remains our primary focus.
We recently expanded sales distribution to include a handful of key retailers, most notably, John Lewis in Sep 21. In Jan '22, we launch in Europe; Zalando in 4 key countries, a market opportunity which we estimate to be 4x the UK market.
We've been carbon neutral since 2020; using premium fabrics from recycled yarns, designing styles in partnership with responsible suppliers, who pay fair living wages, & delivering in recycled / recyclable packaging.
Last year, across the whole business (YE Dec'21) revenue was £272k (EBIT -£539k) & sales are up +27% in CY '21 vs '20, we have sold 28K+ units & helped 12K+ bra wearers find their fit. Our online return rate is 26% & our repeat order rate is 46%.
We're fundraising to; broaden our presence, by onboarding retail partners in new geographies e.g. US, and create innovative products e.g. using new biodegradable fabrics & green manufacturing tech.