Brass Clothing

Brass Clothing

A womenswear brand transforming ecommerce through community and connection.

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Security Type
Crowd SAFE
Categories
Service Businesses
Min Investment
$150
Location
Boston, MA
Offering Date
July 10, 2020
Expected Close Date
November 07, 2020
Target Raise
$25.00K-$500.00K
Deal Notes

Discount: 0%

Company Description

Brass provides affordable, high-quality clothes for the working woman and a high-touch online shopping experience she cannot get anywhere else. The Brass mission is to serve women. Since inception Brass has pioneered the concept of building a functional wardrobe, filled with affordable, machine washable, low maintenance pieces that do more than change a woman's morning—they save her time for the big moments in life.

Key Deal Facts

25K+ women own Brass: Theory-caliber product at affordable prices
$5.2M in accrued revenue since launch; $1.8M in 2019
Most engaged customers are members of Brass’ digital community, The Guild
The LTV of a customer in The Guild is 6x that of a Non-Guild customer
Positioned for growth during the post-COVID shift in workplace dynamics
75% of raise funneled into digital marketing; 4x ROI by end of 2020
Brass customers have committed ~$150K in capital alongside this round

Use of Proceeds

If minimum is raised:

  • Marketing: 94%
  • Product Development: 0%
  • Intermediary Fees: 6%

If maximum is raised:

  • Marketing: 64%
  • Product Development: 30%
  • Intermediary Fees: 6%

Management Team / Advisory Board Bios

Katie Demo - CEO and Co-Founder
12 years of business and marketing experience, 8 years in ecommerce. Responsible for setting and executing strategic vision and revenue goals. Manages P&L, including optimizing for efficiency across all operating expenses. Oversees operations to ensure superior customer experience. Sets tone and company culture for a team of 5 full-time employees. Holds a Masters in Business Administration from the University of Massachusetts.

Jenny Rudin - CCO and Co-Founder
Designer and entrepreneur with 8 years of experience in the fashion industry. Sets Creative Direction for Brass, leads R&D and production, co-manages business development and strategic initiatives to drive growth. Bachelor of Fine Arts from Washington University in St. Louis.

Deal Notes

Discount: 0%

Amount Raised : $66,150
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Valuation

Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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