Pingree Detroit

Worker-owned design and manufacturing co-op crafting quality goods with upcycled materials.

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Location
DETROIT, MI
Expected Close Date
September 30, 2024
Target Raise
$60.00K-$124.00K
No. Investors
10
Security Price
$10
Website
drive.google.com
Number of Employees
14
Cash
$53,708
Revenue
$464,346
Short Term Debt
$20,758
Cost of Goods
$328,020
Long Term Debt
$100,862
Net Income
$3,304

Company Description

Pingree Detroit, founded in 2015, is a triple-bottom-line design and manufacturing cooperative that hand-makes sustainable footwear, home, pet, and fashion accessories in Detroit with leather and other materials upcycled from the auto industry and beyond. We aim to create sustainable products that maximize well-being, to create resiliency and living wage work for veterans and the community. Our team of local artisans handcraft bags, home and pet goods, accessories and footwear, all using high-quality leather reclaimed from the Detroit auto industry.

Key Deal Facts

Pingree Detroit has been profitable two years in a row in 2022, 2023, Pingree Detroit has generated over 1.5 million in revenue to date., 48,000 pounds of automotive material have been diverted from landfills to date., Pingree Detroit has been awarded the Social Impact Award for Sustainability and Standards by Gingras Global every year since 2018., Pingree Detroit was a Motor City Match Round 17 Award winner, a Detroit Demo Days winner in 2020, and has been featured 150+ times in the news over the last 9 years including nationally on USA Today, Wall Street Journal, Medium, Footwear News, Pawn Stars, and ABC World News Tonight.
Amount Raised : $110,265
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