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114%
Raised
£343,470
Investors
239
Target
£300,000
Equity
4.27%
Pre-money valuation
£7,700,000

Planks is a skier's brand, experience and community with a passion for the outdoors and our planet, ethically producing technical ski clothing and streetwear. Strong YoY growth, £1.65m prior year turnover, with leading stockists including ASOS, Snow & Rock, Ellis Brigham, Surfdome, BlueTomato.

  • £1.65m Turnover in prior year, 40%-50% YoY revenue growth for 3 years.
  • Ethical practices: >1m plastic bottles recycled into garments to date.
  • 4 dedicated Planks stores. Official Kit Supplier to GB Snowsport.
  • Online orders of >15,000 to 15 countries in last 12 months.

Idea

Founded by ex-professional skier Jim Adlington, Planks is a British ski brand built on our passion for skiing, producing technical performance ski clothing & streetwear. Building a strong following & loyal community amongst seasonaires & holiday makers alike, Planks has experienced strong YoY growth, turning over £1.65m in the last 12months (EBITDA -£581k).

Planks has a multi-channel approach, with sales through its own eCommerce site growing 69% in 2yrs & its B2B wholesale channel has grown 88% in last 12 months with leading stockists incuding ASOS, Snow&Rock & Ellis Brigham. Planks also has 4 unique retail spaces & 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 its love of the planet. Planks' design & production team are constantly striving to improve their production techniques to lessen environment impact. Planks uses Blue-sign approved fabrics & incorporates Repreve recycled yarns into 68% of its collection, recycling over 1 million bottles so far.

Planks intends to expand its multi-channel approach creating strong, supportive & cohesive communities in each resort. The vision sees Planks as much more than a ski wear company, transforming ski wear, the skier experience & the broader community in a way which Rapha has impacted cycling over the last 15 years.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Planks Clothing has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.