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SMILE.

The E-commerce Of The Year 2017 & 2018 in shoes, clothing and accessories

SMILE was a clothing-store that started a webshop. Now we also develop our own brands working with our customers and followers on social media.
 
The garments we produce meets a big demand regarding sizing options and features missing from todays retail-market due to standardization. The strength of our own brands has meant that our growth has accelerated.
 
The last year = 980 000 website visitors > 27 000 purchases. And we won Prisjakts award for The E-commerce Of The Year in our category shoes, clothing and accessories.
 
We are engaged and will go far. Do you want to tag along?

Investor proposal

Invest in a company that possess energy, passion and a good profitability!

Since 2017 we have tripled our revenue from our webshop and have as an introduction for 2019 (the first 4 months) a turnover increase that is 124% compared to the same months 2018.

The goal for this financial year have risen from 22 to 30 MSEK. Within a few years we will reach over 100 MSEK and will deliver yearly results of 15-23% of the revenue.

The high growth rate is driven by our own brands, with 70-72% margins.

Now we will expand, globalize and generate further growth!
Class B stock

As stockholder you also get a discount when you shop from our store.
If you own stocks valued at 5000 SEK = 10% off, 10 000 or more = 20% off the ordinary price.

Product

The problem this product solves

Many consumers can’t find the clothing they need. The standardization in the retail-market is making todays big brands, web shops and chain shops follow the same set of rules regarding which sizes are produced and what features the garments have. When we were just reselling other brands products we couldn’t always bring out the garments requested by our customers. Standardization is a global problem to us. 

How the product solves it

We have, in combination with being resellers of other brands, started two brands of our own, where we can work towards solving many of these issues by developing our garments together with our customers and followers on social media. We listen to peoples needs and ask questions about functioning, colours and measurements, which give us valuable insights while at the same time creating a big demand for the garments even before they have been produced. 

Product features

What we do now is offering products with features such as for an example providing women with bigger and smaller sizes than what is currently available at other stores and providing for children in the sizing group that is bigger than 130 cl in need of overalls or lined rain clothing, which used to be hard to find in those sizes. 

Product use cases

The products that we produce within our own brands are used by consumers that now find the sizing that fit them and/or have other features that they longed for. Half of all the garments produced in the autumn 2018 for our brand Way Of Sweden were sold before we received the first collection to our warehouse. We think working together with consumers to produce garments is a way to solve the problem with overproducing, which is a good step on the way towards a more sustainable clothing industry. 

Team

Andreas Weiss avatar
Andreas Weiss Founder, CEO
Andreas Weiss is the CEO of SMILE and is responsible for business development and the digital marketing. He's got a big knowledge of E-commerce and the progress within the field. Andreas vision as an entrepreneur is to create something extraordinary. "Today it isn't enough to have satisfied customers. The customers ... See more
Andreas Weiss is the CEO of SMILE and is responsible for business development and the digital marketing. He's got a big knowledge of E-commerce and the progress within the field. Andreas vision as an entrepreneur is to create something extraordinary. "Today it isn't enough to have satisfied customers. The customers need to be more impressed if you want them to continue being your customers in the future", says Andreas. See less
Carina Toss avatar
Carina Toss Founder, COO
Carina Toss is Plant Manager at SMILE and is also responsible for staff. She likes when there's a really fast pace. Maybe it is because of her background working for McDonalds where she was in charge of opening several new restaurants and introducing new concepts. She also designs and develops ... See more
Carina Toss is Plant Manager at SMILE and is also responsible for staff. She likes when there's a really fast pace. Maybe it is because of her background working for McDonalds where she was in charge of opening several new restaurants and introducing new concepts. She also designs and develops our own brands Slaskis and Way Of Sweden. She is in charge of our work towards a more sustainable future. See less
Ullis Niklasson avatar
Ullis Niklasson E-commerce Manager
Ullis have 20 years experience in logistics and purchases for big companies. She is responsible for our E-commerce platform where it also includes price and campaign management, system issues and customer service. Ullis have worked at SMILE since 2011 and masters all sections of our operation.
Tony Thudén avatar
Tony Thudén Sales Manager
Tony is the sales manager and loves numbers, forecasts and financial follow-ups. He is a graduate economist and has e-commerce development as one of his great interests. He also loves to take time on himself when he performs various steps in the operation such as picking orders and has most ... See more
Tony is the sales manager and loves numbers, forecasts and financial follow-ups. He is a graduate economist and has e-commerce development as one of his great interests. He also loves to take time on himself when he performs various steps in the operation such as picking orders and has most records that can be taken. See less
Lisa Lindström avatar
Lisa Lindström Social Media Manager
Lisa handles and develops our social media presence. She contributes with many ideas and smart strategies. With her guidance we have gone from 2 300 to more than 45 000+ followers on Facebook and Instagram since the summer 2016. Sometimes she also appears in the store. There is only one ... See more
Lisa handles and develops our social media presence. She contributes with many ideas and smart strategies. With her guidance we have gone from 2 300 to more than 45 000+ followers on Facebook and Instagram since the summer 2016. Sometimes she also appears in the store. There is only one way going forward: "Think outside the box and become a part of the future", Lisa says. See less
Matilda Hatje avatar
Matilda Hatje Product Manager
Matilda has been working at the company for more than 10 years and has grown into the position where she now has the totality responsibility for product flows, in and out shipping

Market

Target Market

Our main target market is women and children who do not fit into the stereotype, and for those reasons can not always have the "most common garments" to the same extent.

With Way Of Sweden as its own webshop the European market is the goal. Only in Germany the market for our products is 6-7 bigger than it is in Sweden.

The trend is that the big brands and clothing chains is having a hard time now due to new brands that have a strong social presence and therefore manages to become more accurate with their collections.

Competitive landscape

There are several examples of our competing stores: Boozt, Zalando, Sportamore and Jollyroom to name a few. Our competitors in the development of our own brands are other brands within the same segment.

We are with excitement following selected success examples within the clothing industries different segments. What these brands have in common is that they fall into the categories:
  • Own brands
  • fast increment
  • good profitability
  • user-generated content (UGC)
  • focus on social media
  • globalization
  • company reviews and product reviews.

Insights from how these companies work have been a part of creating what we’ve already achieved well
with our own brands.

Unique differentiator from competitors

A big part of our rapid growth the last few years are because we are better than our competitors at providing what the market is demanding. This is due to us listening to consumers issues and then taking action to solve the problems we see. This makes us more unique and have resulted in reviews that drive more customers and more purchases.

We have 4,9 out of 5 in score average spread across 171 reviews on Facebook:

We also have 9,5 out of 10 in trustscore on Trustpilot, which means that we are a 5-star company:

Company revenue streams

  1. Our webshop is the biggest source of income and accounts for 81% of the revenue.
  2. Our store in Åkersberga accounts for 19% of the revenue.

Today the external brands accounts for 70% of the revenue and our own brands accounts for 30%.
- Within a year the distribution will be 50/50, which is the key to a really good profitability going forward.

Product/service distribution

Our biggest channel is social media where we spend a lot of time finding out what our 45 000+ followers and customers wants. When we acquire new products we present them with personal posts that create a big engagement and drives traffic to our webshop.

Other big channels are our loyalty club with over 18 000 newsletter subscribers and also organic traffic from Google.

Execution

Previous milestones/traction

  • 2003 We opened a clothing shop in Vallentuna, the customers named the store SMILE.
  • 2006 We moved the store in Vallentuna to Åkersberga.
  • 2015 The webshop launched.
  • 2016 The brand Slaskis was created.
  • 2017 Campaigns on FundedByMe gave 1,6 MSEK and the range of products was increased.
  • 2017 We won Prisjakts award for E-commerce Of The Year 2017 in shoes, clothing and accessories.
  • 2018 The brand Way Of Sweden was created.
  • 2018 We won Prisjakts award for E-commerce Of The Year 2018 in shoes, clothing and accessories.

Next key objectives

  • 2019 Way Of Swedens collection will have expanded to 30 different items and launched as a global webshop on www.wayofsweden.com
  • 2020 Way Of Swedens collection is now 50-100 different items.
  • 2021 Additions with competence will be added to the board in preparation for a stock exchange listing. 50% of the revenue is from our own brands.
  • 2022 Turns 50-100 MSEK with net gains of 18-23% of sales and is ready for an IPO.
  • 2023 Several own brands in the portfolio that are sold online and globally.
  • 2024 Turns 100-200 MSEK with high margins.

Previous Financing

The business was started in 2003 and was self financed up until 2017.
In 2017 we carried out campaigns on FundedByMe that gave us 1,6 MSEK after expenses. We used these funds to increase our range of products and expand our company.

Use of funds


By taking in capital to expand the range in our own brands, we can improve our customer offering while raising our margins as they are much higher on our own products. They will also make our growth rate accelerate even better.

Here's how we will use the capital we receive:
  • 90% of the funds will be used to expand the range of products for our own brands.
  • 10% of the capital (maximum SEK 250,000) will be used to develop a new channel as global online store for Way Of Sweden translated into English and German.

Return on Investment

If you invest in us it is important that you see it as a longterm investment.

Our big focus today is that within a few years reach a turn-over level of 50-100 MSEK, with yearly results on 15-23% of the revenue. The goal is that we then can start working towards gaining the competence we need within the company to carry out an introduction to stock-exchange listing. We will go far and are counting on that within 5-10 years we will reach a valuation and a stock price that is worth 7-13 times todays valuation.

Risk Analysis

Owning and investing in stocks always equals risks. Changes and factors on the market that are within and outside the companies control can have negative effect on the companies result and financial status.

One risk for us is that we could be affected negatively by weather related causes, for example a winter without snow or a summer without rain. This happened in the extremely warm summer of 2018, but the loss of income was soon made up for. We counteract risks like these by spreading out our deliveries so that we can make changes to upcoming shipments.