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The World of Shoes AB

Bringing you the world's greatest online shoe store and the stories behind the brands.

The World of Shoes is well on its way to become the world's largest online store for classic men's shoes. By combining e-commerce and content, we will become the natural one stop destination for buying carefully selected brands and models, and reading about these shoes and related stories. Great customer service, social media and video will be essential tools in educating the web shop generation about quality, the labour behind and reasons why a pair of welted shoes costs several hundred euro.

Investor proposal

The main reason to join us is that we offer a high return. The online market for classic quality shoes is seeing huge growth. Our website is in place, and now we need capital for marketing and sales staff. We enable a more sustainable way of shopping, as these types of shoes can be re-soled and age beautifully, with a lifespan of 15+ years when properly cared for. We will give existing share holders an opportunity to exit at the next round of financing or the secondary market hosted by FundedByMe, before an IPO or trade sale in 5-7 years.

Product

The problem this product solves

Many online shops and publications exist for hobbies such as cars and watches, but none in English for classic quality shoes. Despite being a niche market, it is seeing tremendous growth and social media engagement. Enthusiasts are often limited to gathering tidbits of information from various hobby bloggers, discussion forums, and buying from e-tailers with a limited selection and insufficient information about brands and models.

How the product solves it

We have carefully selected a mix of both well-established and young brands who all make artisanal classic shoes. Our own editorial content tells the enticing stories behind various brands and shoemakers, and in our Brands A-Z discovery engine, visitors can find information about 450 manufacturers - many whose info has never before been translated into English, including almost 100 Japanese makers. We enable non-English speaking family businesses making fantastic shoes to bring their shoes to a platform with a global audience, and offer a one stop destination for those wanting classic men's shoes.

Product features

We are the world's most comprehensive platform for men's quality shoes combining e-commerce and content on a single website. We just launched the webshop with 12 brands at all different price points. Agreements are in place with 10 more brands. We also produce articles in our Stories section to give our readers an in-depth look into the world of shoes and its personalities as well as a chance to get familiar with more than 450 brands of the finest welted men's shoes from around the world in our Brands A-Z.

Product use cases

With the combination of telling the story behind the brand, a customer will quickly realize which shoes to buy at the desired price point. We offer high quality, a personalised customer service and guidance for the man in search of a new pair of quality shoes. Information about existing makers, factory visists as well as shoe care guides and other editorial content, available at a touch.

Team

Bjorn Kvarby avatar
Bjorn Kvarby Chairman of the Board
15 years within PriceRunner, Interim CEO at Brands4Friends (an eBay company), Senior Director Business Development at eBay and currently Head of Google Marketing Solutions (Nordics) in Ireland. One of the most senior Swedes in Europe within e-commerce.
Daniel Pagrotsky avatar
Daniel Pagrotsky CEO
Started his entrepreneurial journey in 1997 directly after his university degree in International Business. WorkingDay was one of the earliest online graduate recruitment sites. P. Yachting was early in combining online advertising with arbitrage deals bringing Nordic built boats back "home" for resale. JoiceCare was a pioneer in bringing video ... See more
Started his entrepreneurial journey in 1997 directly after his university degree in International Business. WorkingDay was one of the earliest online graduate recruitment sites. P. Yachting was early in combining online advertising with arbitrage deals bringing Nordic built boats back "home" for resale. JoiceCare was a pioneer in bringing video and broadband technology to the elderly care industry (exit 2016). See less
Arnaud Tiquet avatar
Arnaud Tiquet CTO
10 year track record within IT from companies such as HiQ. He is a graduate in engineering from Chalmers University of Technology. An expert in SEO and Google Adwords.
Hannes Rebas avatar
Hannes Rebas Editor-in-Chief
Previously Gothenburg School of Business, Economics and Law and Sales; Marketing and Social Media at Poppels Bryggeri. Extensive knowledge about men's shoes and fashion, relevant markets and publications. Fluent in Swedish, English, Estonian and Mandarin Chinese.
Patric Tengelin avatar
Patric Tengelin Business Development Manager
BA in Economics from the University of Greenwich. 9 years in forex trading and sales as senior trader and Head of Trading at Sweden's 5th largest energy trading firm.
Johan Björkegren avatar
Johan Björkegren Art Director
Educated at Beckmans College of Design, Stockholm. Commissions for Weekday, Way out West, MTV, Dagens Nyheter etc.

Market

Target Market

The global market for men's welted shoes is approx. 2 billion EUR, equivalent to 5,000,000 pairs made annually and with an average sales price of 400 EUR.

Only 2% are sold online today, but the online market is seeing rapid growth. Our target customer is a man from 20-50 interested in proper attire, high end clothing and usually with a relatively high salary.

Competitive landscape

The well-known online retailers, and local brick-and-mortar stores who also sell via webshops. Furthermore there are some e-tailers, like Mr. Porter and Farfetch but our distinct advantage is that we do not keep any stock whilst the others do, and we are completely focused on shoes and related accessories. That translates into that we can offer manufacturers better margins and we will soon have the largest online store for men's welted shoes in the world.

Unique differentiator from competitors

We produce editorial content and offer a greater selection with the aim of having the most comprehensive range within the men's quality shoe space.

Company revenue streams

We receive a 15% commission on sales. The brands set their own prices.

Accessories, like shoe blocks, shoe creams, belts and socks have commenced to be uploaded and are ready for marketing.

In the near future we see an additional revenue stream from bespoke shoe makers who still want to market themselves in a very select manner, in a combination of enhanced visibility and advertorials.

Product/service distribution

We are a dropshipping platform and do not keep any stock, so we can offer a more comprehensive selection of brands och products than our competitors at a much lower risk. It is an on-transaction platform where the customer pays and orders the shoes. We then process the order, send it to the manufacturer in question and 85% of the purchase value. All digital correspondence is handled by our staff and only when a box is to be returned, is it sent directly back to the manufacturer.

Execution

Previous milestones/traction

• Site launched June 2016 during Pitti Uomo in Florence
• Instagram follower count at 14,500+
• Shop launched in May 2017 with 12 brands
• 10 more signed

Next key objectives

To become the number one e-tailer for quality men's shoes and accessories.
In our Brands A-Z we have 450 brands. 300 of these are possible to upload to our platform.
150 are bespoke and not possible for our webshop but will benefit from marketing themselves in our community.
Our aim is to add 10 new brands per quarter to our webshop.
Sales forecast:
2017: 10 pairs sold/day on average - equivalent to €1,464,000
2018: 50 pairs sold/day on average - equivalent to €7,320,000
2019: 100 pairs sold/day on average - equivalent to €14,640,000

Previous Financing

150,000 euro from founders and one angel investor, Kristian Sandahl (exit PocketMobile).

Partnerships

We quite regularly collaborate with various influencers, bloggers and Instagram personalities to market our products.

Use of funds

If the money raised closes in the lower end of the SEK 500k - 2 million range, the funds will exclusively go towards digital marketing campaigns, buying Google Adwords and continued work on our SEO strategy. If we raise towards the top of the range then we will additionally hire a video editor to boost our content production and employ one more staff for customer support and sales.

Return on Investment

We aim to introduce our stock on a recognized marketplace through an IPO or more likely find an exit through a trade sale by one of the bigger players in our space within 5-7 years. We expect the valuation of our company to be 10 times the current one in 5 years. We will seek to provide the possibility of an early exit for shareholders in the next round of financing or through the secondary trading market hosted by FundedByMe.

Risk Analysis

The greatest risk lies in not seeing enough sales. We minimize risk by constantly generating site traffic through digital marketing and interaction with our social media followers. We constantly add more brands to the webshop which keeps the interest high.