Profitable, size-inclusive fashion brand for women

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Security Type
Convertible Note
Consumer Goods & Products
Min Investment
Offering Date
December 02, 2022
Expected Close Date
January 13, 2023
Target Raise
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

Problem:There’s a $264.4B market by 2027 for extended size clothing that is greatly underserved. Companies are missing out on over 61% of potential revenue by not having inclusive sizing (percent of women who wear extended sizes). There is a lack of on-trend, sustainably-made fashion brands that service the full size range of customers looking to dress fashionably without sacrificing their ethics. Solution:WRAY offers chic, high-quality, and accessible luxury fashion that matches Gen-Z values. We are ethically produced, one of the most size-inclusive lines in North America, and our price point is competitive with contemporary disposable brands.Traction: Achieved $2.9 million in sales in the last 365 days (TTM as of Nov 2022).259% average YoY sales growth since 2018, with a repeat customer rate of 59%.70,000 email subscribers, with an average open rate of 63% - more than triple the fashion industry average of 15%.AOV of $239, with markups on our popular items of 3.19x - 7.92x our costs.73,000 Instagram followers, with celebrity influencers including Hilary Duff and Dakota Johnson.Achieved $70,000 in-store revenue within the first month of opening brick-and-mortar location, exceeding first-month revenue goals by 75%.Pre-order sold through ⅓ black color of one of the first high end extended size bootsProduct: Product is king at WRAY. Our designs are trend-setting, priced competitively with the contemporary market, and offer accessible luxury in sizes XXS-6X. Part of our "secret sauce" at WRAY is to test a style in a drop and iterate on that silhouette or print across more SKUs - to amortize our development costs while increasing our profits and revenue.By using this approach, we've identified over a dozen "evergreen" SKUs that account for $1M+ in sales, which we plan to keep in stock to continually acquire new customers.


Early Bird Investor Perk: All investors who invest $1,500 or more by Tuesday, December 13th at 11:59 PM ET will receive a $150 gift card for WRAY Tier 1: Investors who invest $2,500-$4,999 will receive $100 gift card for WRAY Tier 2: Investors who invest $5,000-$49,000 will receive 20% off your next order at WRAY (and Tier 1 perks) Tier 3: Investors who invest $50,000 and more will be invited to regular 1-on-1 meetings with the WRAY team to discuss the company, design, or style suggestions (and Tier 2 and Tier 1 perks) Discount/gift card perks are transferable. It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment. Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.

Key Deal Facts

Achieved over $2.9M in sales in the last year (TTM as of Nov 2022, unaudited), with a repeat customer rate of 59%, higher than the fashion industry average of 20% Investors and advisors include the founder of ModCloth, CFO of Moët Hennessy Louis Vuitton (LVMH), CRO at Alexis Bittar, and more Achieved over $70K in in-store revenue within one month of opening a brick-and-mortar location Celebrity endorsements from names including Aidy Bryant, Hilary Duff, and Dakota Johnson One of the first ever high-end fashion brands to include extended sizes for all styles

Management Team / Advisory Board Bios

Adil Wali Investor, Investor, Co-Founder of ModCloth, acquired by Walmart Luc Ferriere Advisor, CFO (Fashion Group) at Moët Hennessy Louis Vuitton Naowna Simon Advisor, Chief Revenue Officer at Alexis Bittar

Amount Raised : $323,300
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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