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Antique Scandinavia

Bringing new & antique together on the Chinese market.

Antique Scandinavia AB brings the world of classic antiques and design together with the vibrant Chinese e-commerce market. We have cracked a previously unsolved puzzle - how to access the private Chinese buyer with much wanted antiques from Europe. Therefore reaching the huge and fast growing market at price levels unseen in the EU. With established offices in the EU and China, we offer a proven, safe and very profitable way to sell antiques and collectables on the Chinese market.

Investor proposal

We offer a unique possibility for investors to be a part of our exciting journey in China, towards either a profitable industrial exit or an IPO. We have managed to do what our competition has dreamed of doing, our platform, infrastructure, brand and customer base is a great asset for anyone who wants to follow in our foot steps. The margins achieved and the fast development of the Chinese consumer market is an extremely attractive opportunity for established companies in the sector. We offer a safe, efficient, profitable and modern way to access to this opportunity.

Product

The problem this product solves

When China initiated The Great Firewall project in 1997 they did not only censor information, the Chinese consumer was cut off from the west. As the country modernised and grew, so did the middle and upper class, thus creating a high demand for luxury items.

Overseas based antique houses tried to tap the market but lacked knowledge in key critical areas, the Chinese market, local cultural nuances, e-commerce and an understanding of how to do business in modern China.

How the product solves it

By combining long-time experience working in China, and coupled with expertise in e-Commerce, marketing and the world of antiques we have succeeded in cracking the puzzle. By establishing a local presence, recruiting our own team of e-commerce & marketing personal as well as partnering with an experienced logistical company we have a footprint in this dynamic & developing market, servicing directly to consumers through a well-known and familiar platform - Alibaba‘s Taobao.

Taobao? - Imagine Ebay, only with ten times the GMV. In 2015 Taobao had a GMV of 262 Billion USD, making it the worlds largest e-commerce site.

Product features

Our business consists of three key sales areas:

  • Middle Segment
Mostly European antiques with a lower price point, here we target the middle class (ABC1's). The platform used is Taobao and Paimai.

  • Upper Segment
Mostly European antiques with a higher price point, here we target the more affluent ABC1's. The platform used is Taobao and Paimai.

  • Concierges Segment
Certain clients request specific pieces which we are able to source in the west; Once identified and located, our logistics capability ensures such pieces are delivered door to door eliminating all risk to the client.

Product use cases

Antique Scandinavia focuses mostly on the sections of interior design and personal style. Our range offers everything from 16th Century etchings from influencers like Giacomo Lauro to Edwardian British silver cutlery and beautiful wearables from brands like Yves Saint Laurent.

The Chinese are constantly seeking a way to differentiate themselves from their peers in both there private and public lives, our client base is accustomed to buying luxury items as a way of increasing their unicity. AS offers a way to achieve this from the comfort of their homes by selecting unique and different items from our extensive range.

Team

Anthony Greenwood avatar
Anthony Greenwood Managing Director
A philanthropist of the fine arts. Tony provides Antique Scandinavia with not only the experience of antique trading and business knowledge but also the true essens of what an antique company is. Tony has for many years been trading high quality antiques in the EU and worked with some of ... See more
A philanthropist of the fine arts. Tony provides Antique Scandinavia with not only the experience of antique trading and business knowledge but also the true essens of what an antique company is. Tony has for many years been trading high quality antiques in the EU and worked with some of the most famous auction houses. The former trade-fineancer and purchasing manager of Selfridges functions as Managing Director of Antique Scandinavia. See less
Casper Oldén avatar
Casper Oldén Chief Operating Officer
Truly connected with the market. With a background within sales and marketing, and having spent time of his youth in China, Casper makes the ideal COO of Antique Scandinavia. Casper manages all aspect of our day to day operations in China, and is our representative on the scene heading our ... See more
Truly connected with the market. With a background within sales and marketing, and having spent time of his youth in China, Casper makes the ideal COO of Antique Scandinavia. Casper manages all aspect of our day to day operations in China, and is our representative on the scene heading our China and Hong Kong offices. Casper's strengths lies in his long experience from the world of media, sales and entertainment where he gained much experience from developing brands and managing clients - something easily adaptable to our China operations. See less
Nicky Suen avatar
Nicky Suen Executive Assistant
The link between. Nicky has been with Antique Scandinavia since the very beginning of it's China presences and knows the company in and out. With previous experiences of working with western companies in China, Taobao sales and customer care Nicky became an obvious choice during our initial requiting process. During ... See more
The link between. Nicky has been with Antique Scandinavia since the very beginning of it's China presences and knows the company in and out. With previous experiences of working with western companies in China, Taobao sales and customer care Nicky became an obvious choice during our initial requiting process. During our first year she has proved to be a tremendous asset with strength laying in her energy and enthusiasm. See less
John Skalin avatar
John Skalin Advisor
A tycoon of the e-commerce business. With more than 10 years experience, one could almost say that John was in the e-commerce business before it even existed. John has been an advisor of Antique Scandinavia since the early stages of establishing presences, and provides much insight into the Chinese market ... See more
A tycoon of the e-commerce business. With more than 10 years experience, one could almost say that John was in the e-commerce business before it even existed. John has been an advisor of Antique Scandinavia since the early stages of establishing presences, and provides much insight into the Chinese market and the e-commerce business. See less

Market

Target Market

  • Population of China is circa 1.5bn.
  • Antiques market size USD 20bn.
  • ABC1 represent 68% of population.
  • Mature ABC1's earn north of USD 150k.
  • Younger ABC1's earn circa USD 30k.
  • Every third day a Chinese person becomes a USD billionaire in China.
  • Both demographic groups have large disposable incomes and this is who we plan to target.

Competitive landscape

Western Antique Houses
Although antique houses like Sotheby's and Christie's have a presence in China, we do not recognize them as competitors as they are focused on sourcing locally rather than selling. They turn to the smaller customer base of the extreme rich. We turn to the much larger customer base of the Chinese middle class.

Online & Offline Competitors
China has a number of small antique shops both online and offline, but these shops do not have direct access to Europe. The majority goes through traders, which lowers margin and range.

Unique differentiator from competitors

Antique Scandinavia differ in many ways.

  • Unique sourcing programme in the EU of antiques at a competitive price.
  • First European antique dealers to establish operations on Taobao.
  • Maintained margins offering better value to end clients.
  • Slick and robust logistics - thus protecting margin and eliminating distributors.
  • In house design capability - with a western flair.
  • Extensive e-commerce knowledge.
  • Deep understanding of local market.
  • Mandarin speaking personal.
  • AB company structured to allow full financials control, eliminating any risk.
  • Scandinavian business culture spaning across the group.

Company revenue streams

All revenue stream in the short to medium term will be via e-commerce sales through Taobao. As we are a pure B2C business, this will account for 100% of revenue streams - however, we plan to explore other avenues in the future, such as B2B and our mentioned concierge service where we find and source items individually for clients. Margin aspirations as per our financial documents are between 3,5 to 5 times cost of goods.

Product/service distribution

Antique Scandinavia plan to fully exploit all elements of social media - Facebook, WeChat, WeiBo and of course our sales platform Taobao - the main vehicle to access our customers. We have extensive experience in these fields and that expertise has taken us so far to this point in our development.

Execution

Previous milestones/traction

2015
  • The project idea was born.
  • Market research commenced.
  • Graphical profile was developed.

2016
  • The landscape was further outlined by Casper on site.
  • Incorporation of the Hong Kong company.
  • Logistical partnership established with Sino Etail.
  • Incorporation of the Chinese company.
  • Shipped first items to China.
  • Initial personal recruitment.
  • Official Social Media channels launched.
  • Taobao shop launch - Dec.

2017
  • First item sold
  • All banking facilities put in place
  • Increased marketing spend and activity

Next key objectives

2017
  • Recruit trained professional personnel.
  • Ramp up marketing initiative both online & offline.
  • Launch on Paimai, Taobao's auction affiliate.

2018
  • Further develop and extend our online presence.
  • Roll out a more exclusive collection side by side of our standard items.
  • Increase marketing efforts directed towards the high end of the 'Traditionalist' ABC1 clients.

2019
  • Explore opening a showroom with live-auction possibilities.
  • Increase presence on the international antique market.

Previous Financing

The business has previously been funded privately, at a total of approximately 1,2m SEK.

Partnerships

In mid 2016 we choose to establish a partnership with John Skalin from Sino Etail which has proven to be very effective.

Sino Etail functions as our logistical partner as well as providing Antique Scandinavia with e-commerce expertise through 'off the rack' consulting services. Sino Etail handles our Chinese warehouse-consumer distribution and provides expertise in shipping between the west and east.

Use of funds

To take our business to next level, to gain even more market awareness and grow sales we need to do the following:

40% Marketing at Taobao and Social media.
10% Brand development.
30% Staff.
20% Increased purchase of objects.

Return on Investment

The real future value of Antique Scandinavia for an investor or buyer at an exit is the platform, infrastructure and customer base.

We have cracked a long desired dream for most businesses in the antique and design segment. Our goal is in 3-5 years to do either an industrial exit or an IPO to open up for other agents in the market. Based on the size and potential of the Chinese market and the considerable margin opportunities, we believe that our evaluation at that date will be a minimum 10 times higher than current value.

Risk Analysis

Strengths - Deep understanding of China. Long experience of the traditional antique markets in the Europe.

Weaknesses - Insufficient funding to take AS to the next level. AS is breaking new ground and there is still a lot to learn.

Opportunities - 750 million potential clients. 5 to 10 times higher margins than in Europe. AS has cracked a previously unsolved riddle for many business in its segment, thus making the business very attractive for an industrial exit.

Threats - Global economic and political uncertainty. Both international such as economic world trends and internally the political climate of China.