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117%
Raised
£176,220
Investors
163
Target
£150,000
Equity
4.79%
Pre-money valuation
£3,500,000

Reef Knots is a direct-to-consumer menswear brand inspired by the ocean and the summer, built on creative design, quality, customer service and a passion for sustainability. Launched in 2013, the business is profitable with 71% revenue growth and 108% online sales growth in the current year.

  • Founder led, innovative brand with focus on design and sustainability
  • £2 million of sales already achieved and more than 22,000 orders
  • Profitable business with 108% online growth in current trading year
  • Industry-leading customer satisfaction with less than 5% returns

Idea

Reef Knots was founded by Patrick after being made redundant 2 days before having twins. He decided to walk away from corporate life and build a brand based around summer and the ocean. Summertime – all the time.

Reef Knots grew its reputation with silk ties and innovative print design but now sells products in multiple categories, including upcycled ocean plastic swim shorts and knitwear using 50% recycled plastic. We believe exceptional quality, innovation and sustainability runs through the range, with a rich pipeline of new products embodying the ethos.

Reef Knots has been an official partner of the Blue Marine Foundation since 2014.

The business is data-led, digitally focused and has been profitable since year starting April '14 with £2 million sold direct (£417k revenue to March 2019, P&L £32k) to more than 22k orders. Reef Knots has industry leading customer satisfaction with <5% average customer returns. The first 9 months of the current year (end March) saw online sales +108% and total sales +71%. Reef Knots has a store in Leadenhall Market, London. This is the first investment outside of the founder.

The growth plan includes:

- Accelerating online sales through investment in digital marketing and DM with focus on lowering average CPA.

- Expanding the product range to improve marketing response, retention/loyalty and LTV.

- Investing in the core team and in-house expertise.

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Risk warning

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Reef Knots 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.