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Shings

Sport shoes for horses

Shings equine sports shoes are optimized for the horse's well-being, performance and development of strong, healthy hooves. Made in Sweden, our shoes are
an innovative and modern alternative, based on traditional knowledge as well as modern research. 
 
With our patent protected attaching technique and built-in functionality, we’ve developed an ergonomic sports shoe. Our customers testify to improved movement patterns, softer steps and increased energy in the horses. 
 
We’re offering you an exciting opportunity to be part of Shings. Register (free of charge) for more information. Together we can expand and reach more horses. Shings is the future of healthy hooves!

Investor proposal

E.g. Buy 30 shares for SEK 1980
75 shares for SEK 4950
150 shares for SEK 9900
or invest any amount
The shares are B-shares
 
As an investor you also get -25% discount on Shing's sports shoes.
 
Shing's sports shoes are made in Sweden, patent protected. Our products are already sold through online channels and resellers.
Now’s the time to expand and accelerate sales! Opportunities to a profitable exit in planned new issue within 3 years.
 
A 10% market share in Sweden suggests a yearly turnover of SEK 250 Million. Including secondary targets the figure would be SEK 7,5 Billion.

Product

The problem this product solves

Equines are the only living creature in our world armed with shoes 24/7. Iron shoes. Nailed to the foot. Wear protection. Despite this we keep horses for joy and performance. We expect them to run fast, or long distances, jump high, perform advanced dressage…
 
In the early 1900s carriages were equipped with wooden wheels, covered with iron rails for wear protection. A lot of development has taken place there, but our horses are still living the Iron Age, with iron rails nailed to their feet. To be able to perform the way our modern horsekeeping anticipates they need more.

How the product solves it

They need sports shoes. And they need the freedom to kick off their shoes in between performances. To rest and strengthen their feet, and minimize injuries.
 
By using technology and materials corresponding to the ones used in human sport shoes we create ergonomic sport shoes for your horse. With our patent protected, easy on/off attaching technique we have discarded the nails, given the horse & owner the freedom of choice. Freedom to choose shoes only during the few daily hours when shoes really are needed. And choose the shoes best corresponding to the task ahead.

Just like you and I!

Product features

Shings equine sport shoes are fully featured performance products. Shoes with unique functionality, values just like the ones found in human sport shoes.
 
Qualities like support, cushioning and resilient materials, and design for enhancing performance distinguish our shoes from the rest. Our Sole Layer Technology, Hoof Training System and Active Suspensory Ligament Support are unique product values built into our product. Providing our shoes with:
  • shock absorption
  • support to suspensory apparatus and lower leg
  • promoting natural bio-mechanics
  • providing tactile stimulus enhancing sound blood-flow
  • supporting coffin bone enhancing vigorous gaits
 
All built in for protecting your horse and supporting their performance. 

Product use cases

Imagine yourself going for a run. Would you consider iron shoes? And would you benefit from keeping them on day and night? Keeping your shoes on as you eat, sleep, take a shower, spend time in front of your TV…? Probably not.
 
Now imagine taking your horse for a run. Your horse is grazing barefoot in his paddock. You call him in, saddle/harness on, shoes on, ride. When back home, take the saddle/harness and shoes off with the other equipment and your horse is again ready for enjoying his leisure barefoot, just as nature intended him to. 

Team

Marina Nylund avatar
Marina Nylund ceo
Innovator, founder and CEO. Certified equine physiotherapist with more than 10 years experience from equine anatomy and biomechanics.
avatar
Jörgen Ringman Member of the Board, co-founder
Super-entrepreneur, coach and business angel with focus on the individual. Founder of Memira, European chain of more than 45 surgical eye correction clinics.
avatar
Anders Holmgren Chairman of the Board
Business Director and founding partner at Atlas Capital Group. Experienced business analyst and financial services provider. Long history of owning race horses, extensive network in Swedish harness racing industry.
Isabelle Waldenström avatar
Isabelle Waldenström Advisor and Board Alternate
Investment manager at Almi Invest. Responsible for the entire investment cycle from the identification and analysis of potential investment targets, to the preparation of decisions, negotiation process and the company holding.
25+ active hooftrimmers avatar
25+ active hooftrimmers resellers
Our passionated hoof trimmers are an active source to feedback and input from the market and our customers. Also a valuable channel in implementing & testing models.
Martin Askne avatar
Martin Askne coach
Business coach and advisor at Propell Innovation, innovation hub.
Ivar Renngård avatar
Ivar Renngård Advisor & sounding board
Lean startup coach at Movexum business incubator program. Experienced business coach from whom we get guidance in choosing and implementing Business Model and Strategy.

Market

Target Market

As more and more studies on the equine hoof provide data supporting pathological changes due to iron shoes, the “barefoot” trend has come to stay. Our primary focus lies on this growing crowd that already has abandoned traditional iron shoes.
  • study by Hästfocus 2011; 20% barefoot horses
  • survey by Jordbruksverket 2013; 43% barefoot
 
Our product offers comprehensive advantages for horse owners with a special interest in competition.
 
And as it already is a fact well known among the harness racing practitioners, that horses perform better allowed to race without iron shoes, our product is of high interest to this market.

Competitive landscape

Competitors producing barefoot boots are EasyBoots, Cavallo HorseBoots, Renegade HorseBoots, all American brands, some launched as early as in the 1970s. Equine Fusion, a Norwegian competitor is the only one providing a soft sole. A continuous establishment of newbies; Australian ScootBoots, Spanish FloatingBoots etc prove that barefootboots is growing, a trend here to stay.
 
However, the main issue is that they're all hard to fix to the hoof securely enough. Which to a great extent disqualifies them from many competition contexts. A further weakness is that these boots are developed as wear protections. Meaning clumsy, with no performance enhancing technology.

Unique differentiator from competitors

Shings advantages constitutes our patent protected attaching system, and our unique product features (international PatentPending) making our shoes not just simple wear protections but sports shoes with performance enhancing technology. Shoes securely fixed to the hoof!
 
Our customers testify this is a shoe optimized for performance, supporting the evolvement of a strong and well-trained, active foot.
 
Our available models can compare to the generic running shoe. The one you choose for your own 3-miles run. With excellent features for training on roads, paths, easier terrain, paddock or track. Specialized models for advanced terrain, specific disciplines, sprinter performances in the pipeline. 

Company revenue streams

  • product range with two models, available in three mid-sizes, third model 2017. Priced between 895 - 1198 SEK a piece.
  • a generous contribution margin at large-scale production secures scalability through future model expansions
  •  established dealer network stands for approx. 60 % of turnover
  • e-commerce approx. 40 % of turnover
  • negotiations with larger retail distribution chains to get our products into physical shops initiated
 
Swedish harness racing is of absolute world class and internationally well renowned. Ambassadors within this racing industry would make us well equipped to cross borders to the international markets.

Product/service distribution

Our products are already sold through online channels and resellers.
 
Shings sport shoes are made in Sweden. Swedish contracted subcontractors manufacture our shoes and our logistic partner in Söderhamn executes warehousing and distribution. Quickly, easily and efficiently. Located in the beautiful landscape of Hälsingland, where our head office too is located.

Check out our video archive where you can find videos from some of our customers in their Shings:

Execution

Previous milestones/traction

  • Dec 2012; Strong supporter group est by premarketing blog
  • March 2013; Pilot testing in vivo started
  • April 2013, admitted to incubator program Movexum
  • May 2014; First model. size 10 launched
  • Jan 2015; Release size 11
  • Apr 2015; ShingsOnTour brought users throughout Sweden
  • Jan 2016; Release size 12 and second model
  • May 2016; Milestone of 25 signed retailers
  • June 2016; Proof of Product
  • Aug 2016; Preparation for size 13

Next key objectives

  • May 2017; HR Sales recruitment initiated
  • Aug 2017; Product in 15 horse equipment stores
  • Sept 2017; Size 13 & next model launch
2017 – 2019
  • Market penetration harness racing industry
  • Introduction European target markets
  • Full size range (sizes 8 – 15)
  • 2021 International – world wide brand

Previous Financing

Financing SEK 8,5 Million already secured during first years for tooling, product and concept development to Proof of Product and Proof of Concept.

  • Equity; founders SVFH Invest AB and business angel Emmetrop AB
  • Loan Almi Företagspartner 2013 -2015
  • Grant Länsstyrelsen Gävleborg 2013 -2015
  • Investment against Royalty from Innovationsbron (nowadays part of ALMI-concern) 2013
  • Funds from Sparbanksstiftelsen 2013
  • ALMI Invest AB and Corallium Investments AB 2015 - 2016

Partnerships

Today we have a network of 25+ dedicated active hoof trimmers resellers, primarily in Sweden.
 
One of Shings most valuable resources outside our company is our close contact with one of the world-leading researcher on the equine hoof area. Dr Robert Bowker, VMD & PhD leading the Equine Foot Laboratory at Michigan State University.     

Use of funds

  • 45 %; Growth of the team, expand and accelerate sales
  • 25 %; Marketing, visibility on events, accelerate social ad campaigns that already proven successful (dec 2016 – march 2017 1100% ROI)
  • 10 %; Working capital to keep a strong negotiation point when expanding our distribution network
  • 10 %; Expansion to new geographical markets outside Sweden
  • 5 %; Tooling for next size and model range
  • 5 %; Design & development new model line

Industry Certifications/Awards

2013 Nominated to Born Global program
2014 Winner of regional Innovation Price, Gävleborg. A reward for the best innovation of the year, appointed by the SKAPA-foundation by Alfred Nobel fund.
2015 approved Swedish patent

Return on Investment

The market for alternative horseshoes is a high-growth market as the trend shows more and more horseowners abandoning the traditional iron shoes.
 
A follow through on our business plan, with penetration of the harness racing industry market would increase the estimated company value by 3-4 times in 2 years and more than 10 times in 5 years. An exit strategy is provided with the sales of shares in a planned new share issue within 3 years.

Risk Analysis

copies on the market: we hold patents and patents pending on our most valuable advantages
 
time to market longer than forecasted; the scope of this investment round is to secure a more aggressive approach to marketing and sales and allow continuity in product development
 
production quality: our products have undergone comprehensive quality control and improvement work from first launch 2014 until Proof of Product 2016