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Lumi

Lumi

LUMI is an award-winning Finnish designer handbag and leather accessories brand. The product range includes handbags, shoes, small accessories, as well as a line of scented luxury home line products. LUMI represents a unique proposition in the world of leather goods, combining directional, yet unpretentious design aesthetics with industry leading sustainable production methods where 60 percent of the products are using vegetable-tanned leather (compared to an industry standard of 10 percent). When you love it, keep it.
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Investor proposal

LUMI is growing fast. Organic growth has taken us to a yearly turnover of €1,5M. The forecast for 2020 is €5M. We are now raising funds to accelerate and consolidate the global retail position by opening a new flagship store in the heart of Stockholm, Sweden. Minimum investment is only €100. Be a part of LUMI's coming growth and expansion and at the same time become a part of the LUMI family and receive exclusive benefits:

  1. Become LUMI brand ambassador and promote sustainable fashion
  2. Receive shareholder LUMI product gift
  3. Receive 25% shareholder discount on purchases made at LUMI stores


Product

The problem this product solves

The handbag and accessories market is filled with brands and styles that are either overly pretentious and 'bling' or very generic and forgettable. The current accessories market is also very saturated with brands from Italy and France with no true competitors from the Nordic countries. Curiously, while the Nordics have produced successful clothing brands, the handbags and accessories niche has yet to be truly represented.

The market is also lacking sustainable representatives: most leather accessories and designer handbags, close to 90%, are made with chrome-tanned leather, a production process that uses harmful chemicals, which by no means is sustainable.

How the product solves it

LUMI products feature a directional and easily recognizable design aesthetic, which has created a loyal customer base that appreciates a Nordic sensibility, one that emphasizes 'bling' free and lasting design. More specifically, LUMI product design is based on a distinctly Finnish design heritage, drawing on clean lines and functionality.

LUMI products are sustainable with over 60% of the products made of vegetable-tanned leather. These production methods also include working with long-term manufacturing partners and small factory units, where handcrafting has been perfected from one generation to the next. Lumi is also an active partner with the NICE organization, since 2009.

Product features

  • Unique, recognizable design
  • Made for everyday use
  • Functional details: interchangeable snaps, multiple pockets in bags, unique splint basket (pärekori) and glass packaging for scent line products, which avoids the use of any plastic or artificial packaging materials
  • Sustainable materials and supply chain
  • Design and inspiration found throughout a rich Finnish cultural and natural heritage

Product use cases

When you carry a LUMI bag, you are really carrying a kind of functional intelligence in a bag form. To take only one example, LUMI's iconic Supermarket Bag shopper features interchangeable straps, which allow you to switch from cross-body position to shoulder position with a simple snap button. This functional intelligence has made the Supermarket Bag our bestseller, which has sold over 50,000 pieces globally since its creation.
Likewise, LUMI’s premium lifestyle category items, such as scented candles or scented bath products, are ideal gift items, which have received special praise for their splint basket packaging.

Team

Sanna Kantola avatar
Sanna Kantola CEO, Design Director, Co-Founder
Sanna Kantola has almost 20 years of professional experience in fashion. She has a Master's degree in fashion design from the prestigious Aalto University in Helsinki. She began her career as a designer at fashion companies in Paris and New York, including as the sole handbag designer at Ralph Lauren ... See more
Sanna Kantola has almost 20 years of professional experience in fashion. She has a Master's degree in fashion design from the prestigious Aalto University in Helsinki. She began her career as a designer at fashion companies in Paris and New York, including as the sole handbag designer at Ralph Lauren in New York City in the 2000s. She is one of the owners and co-founders of LUMI, working diligently as both CEO and director of the LUMI design team. See less
Bruno Beaugrand avatar
Bruno Beaugrand Chairman, Co-founder, Designer
Bruno Beaugrand is co-founder, designer and chairman of the LUMI brand. Previously, Bruno has worked as art director for Tiffany&Co, specifically on "The Tiffany Mark" Watch collection for Gents and Ladies, the Ladies "Cocktail" watch project, as well as various going projects. Responsibilities included design direction and strategy, design conceptualization ... See more
Bruno Beaugrand is co-founder, designer and chairman of the LUMI brand. Previously, Bruno has worked as art director for Tiffany&Co, specifically on "The Tiffany Mark" Watch collection for Gents and Ladies, the Ladies "Cocktail" watch project, as well as various going projects. Responsibilities included design direction and strategy, design conceptualization and development, vendor coordination, 3D modeling management, web based animation production, as well as overall coordination between marketing, advertising and product education services. He has also worked as packaging designer and project lead for various other companies, including L'Oreal, Pepsi Cola, Kraft Foods, Claussen and Oscar Mayer. Bruno received a Master's degree in product design from Ecole Nationale Superieure des Arts Decoratifs in Paris. See less
Kristian Rosenlund avatar
Kristian Rosenlund Supply Chain Manager
Kristian Rosenlund heads LUMI's supply chain and IT operations. He has over 10 years of experience in supply chain and IT environments, across multiple industries, including telecommunications, retail and fashion. Kristian's work experience ranges from start-ups to Fortune 500 companies, and has Master's degrees in economics and industrial engineering.
Ellen Huhtamies avatar
Ellen Huhtamies Digital Marketing Manager
Ellen Huhtamies is our digital marketing, content creation and branding coordinator for the LUMI online shop. She is currently a Master's student in marketing at the Hanken School of Economics. Ellen is passionate about spotting new digital trends and visual aesthetics.
Nadia Heiniö avatar
Nadia Heiniö International Sales Manager
Russian-speaking Nadia joined Lumi after extensive over 15 years of experience in sales marketing in Russia, Belarus and the Baltics. Nadia has experience of distribution of international designer brands such as Ted Baker and True Religion in Finland, Russia and the Baltics. Nadia has a great eye for fashion merchandizing ... See more
Russian-speaking Nadia joined Lumi after extensive over 15 years of experience in sales marketing in Russia, Belarus and the Baltics. Nadia has experience of distribution of international designer brands such as Ted Baker and True Religion in Finland, Russia and the Baltics. Nadia has a great eye for fashion merchandizing and can be described as true Fashionista. See less
Mika Åhman avatar
Mika Åhman B2B Sales Manager, Events producer
Mika Åhman's professional background is in advertising and marketing, including several years of graphic design and art direction experience with various firms in Finland, Germany and Austria. Mika has worked with international clients and brands across different fields, including both global and local businesses. After receiving an advanced degree in ... See more
Mika Åhman's professional background is in advertising and marketing, including several years of graphic design and art direction experience with various firms in Finland, Germany and Austria. Mika has worked with international clients and brands across different fields, including both global and local businesses. After receiving an advanced degree in fashion marketing, he has increasingly concentrated on the fashion industry. At LUMI, Mika works with our wholesale clients and retail customers providing customer care, as well as organizing and producing sales and seasonal events, including the annual Fashion Stock Sales and Ornamo´s Design Market, which bring together between 10,000 and 20,000 visitors. See less
Åsa Stenman avatar
Åsa Stenman Retail Sales Manager
Åsa Stenman is Lumi’s Retail Sales Manager in Finland with nearly 15 years of work experience in customer service and retail from both Sweden and Finland. Åsa has studies in both design and beauty that have given her a solid skill-set for shapes and color to execute strong visual merchandizing. ... See more
Åsa Stenman is Lumi’s Retail Sales Manager in Finland with nearly 15 years of work experience in customer service and retail from both Sweden and Finland. Åsa has studies in both design and beauty that have given her a solid skill-set for shapes and color to execute strong visual merchandizing. Åsa channels her entrepreneurial mind-set throughout her work and she is driven by the opportunity of constantly developing her skills and learning new tools and aspects of the industry. See less
Mika Kato-Karhu avatar
Mika Kato-Karhu Retail sales; Marketing liaison to Japan
Mika Kato-Karhu is the Japanese connection of Lumi, working at Lumi’s Flagship store in Helsinki to serve our Japanese customers and also keeping close relations to Japan. Mika is an expert in Japanese-style packaging and product wrapping and has a very creative eye to build Japanese-speaking blog and newsletter to ... See more
Mika Kato-Karhu is the Japanese connection of Lumi, working at Lumi’s Flagship store in Helsinki to serve our Japanese customers and also keeping close relations to Japan. Mika is an expert in Japanese-style packaging and product wrapping and has a very creative eye to build Japanese-speaking blog and newsletter to our customers. See less
Paola Garatto avatar
Paola Garatto Design and Product Development
Italian Designer based in Helsinki, working in International High-End Design markets. Paola graduated with MA Degree from the University of Architecture in Venice, with a project of a sustainable and biodegradable first step shoe for the kids. She gained experience in Italy in various design companies and then moved to ... See more
Italian Designer based in Helsinki, working in International High-End Design markets. Paola graduated with MA Degree from the University of Architecture in Venice, with a project of a sustainable and biodegradable first step shoe for the kids. She gained experience in Italy in various design companies and then moved to Helsinki. Since then she has been working on a wide range of projects for the most relevant design companies in Finland. At the moment, she is working in Lumi Accessories as a Designer and Product Developer. See less

Market

Target Market

LUMI products appeal to aesthetically aware people who appreciate unique design, sustainable quality, and a Nordic, minimalist look. This customer niche is truly global.
 
LUMI bags and accessories are already carried by stockists in over 20 countries, as well as in LUMI's own retail stores in Finland, Germany and Japan.
  
With our LUMI scent line, the target market has expanded, to include premiere lifestyle stockists, especially in UK and France. The scents market is a fast growing industry and has tremendous potential to expand, not only to lifestyle concept stores, but also accross the luxury hotels around the world.

Competitive landscape

The designer handbag and accessories market is highly competitive and over-crowded. Despite the crowd, the market still does not have a brand quite like LUMI, with its directional and sustainable leather designs and Nordic origins. To know leather and to be Nordic is our competitive edge.
 
Current competitors include fellow Nordic accessories brands, Mismo and Sandqvist, the Swiss utilitarian and sustainable brand Freitag, and the UK-based leather bags brand Ally Cappellino.

Unique differentiator from competitors

  • Unique, recognizable and directional design
  • Lifestyle products in vegetable-tanned leather
  • Functional products suitable for everyday use
  • Our use of colors is bold
  • Our ways of working, our product materials and our supply chain are sustainable
  • Our design and inspiration are found throughout a rich Finnish cultural and natural heritage
  • Our customer loyalty is superior

Company revenue streams

  • LUMI retail shops, both online and offline / B2C sales (50%)
  • Wholesale / B2B sales (30%), through agents, distributors, participation at the best trade shows of the industry in Paris, New York, Milan, Copenhagen, among others
  • Design projects for corporate customers and co-branding (10%)
  • Fashion sales events producing (Fashion Stock Sales locally in Finland) (10%)

Product/service distribution

LUMI has been successfully running its own retail stores since 2007 in Finland, Germany and Japan.

In addition, LUMI bags are stocked in over 20 countries through a network of selected retailers, including Merci, Conran Shop, Baycrews, and Le Bon Marche, to only name a few.

We cooperate industry leading sales agents, who are typically assigned per country/market. Every season, we also participate in the best professional trade shows around the globe, in Paris, New York, Milan and Copenhagen, where we meet and greet new B2B customers and other brand ambassadors.

Execution

Previous milestones/traction

  • In 2015, Lumi branched out into scents, with its own line of candles, bath oils, and soaps, which were immediately picked up by premiere lifestyle stockists around the World
  • Lumi has been ranked among the TOP 5 fashion brands from Finland by several actors from Elle Magazine and "http://culturetrip.com"
  • In 2015, LUMI brand video was selected to be played on all Finnair flights across the globe, reaching over 700 000 viewers
  • In 2015, Lumi successfully completed the pioneer programme Creating Finnish Luxury Cluster for Finland’s top executives, which focuses on strengthening capabilities of the luxury and premium sector businesses

Next key objectives

  • Expanding global sales and increasing overall brand awareness
  • Recognition as the premiere leather accessories business in the Nordics
  • Opening LUMI retail store in the heart of Stockholm, planned for Spring 2017
  • Strengthening of the complete sales and distribution network in Sweden through 2017
  • Open LUMI retail store in New York City by 2019
  • Expansion of the sales and distribution network in the US market by 2020

Previous Financing

Until this point, LUMI has been growing organically through sole funding of its founders, Sanna Kantola and Bruno Beaugrand, with no external investors. It is time to initiate a more robust global expansion, which requires external investment.

Partnerships

LUMI is partnering with international bloggers and taste-makers, such as Hilda Sandström from Sweden and the singer Tess Henley from the United States, through carefully considered product placement. These brand ambassadors spread awareness of LUMI's brand image globally.

LUMI has a large number of B2B partnerships within design, fashion and the gaming industry and has been asked to create co-branded products for various companies such as Supercell and Fiskars.

LUMI partners also include top PR, graphic design, photography and modeling agencies, to produce high quality campaigns, such as the campaign for Financial Times How to Spend It magazine, Fall 2015.

Use of funds

Use of funds: Global expansion of the LUMI brand and opening of LUMI retail store in Stockholm, Spring 2017.

Exit possibilities: we plan to make an exit in the next five years.

Investor proposal wrap up / call to action: Participate in LUMI's growth and recognition as the premiere leather accessories business in the Nordics, leading the way to make fashion sustainable.

Industry Certifications/Awards

LUMI is proud to have received the Kultainen Vaatepuu (Golden Hanger) Fashion award in 2011. We are the first fashion accessories brand to receive this award in Finland.