FANFARE - Issued: 16 August 2021 - A circular fashion label transforming the way people buy, wear & discard clothing - Chorus Network
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FANFARE
A circular fashion label transforming the
way people buy, wear & discard clothing.
Issued: 16 August 2021
FANFARE
DISCLAIMER
Issued: 16 August 2021
Chorus Network Advisors Limited (‘Chorus Network Advisors’) is an Appointed Representative of Aperios Partners LLP (the ‘Principal Firm’) which is authorised
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2
FANFARE
WELCOME TO FANFARE
Fanfare is a circular fashion We supply premium fashion Since launch in 2019, Fanfare The ethical clothing market
label transforming the way for the contemporary woman has sold over 700 beautiful is growing 3x faster than
people buy, wear and discard without compromise on ethics garments and generated more the womenswear market
clothing. with two award-winning, fully than £52k revenue at average as a whole2 and with our
circular collections: gross margins of 60%1 experienced team, short lead
times and proven concept,
Fanfare Repurposed: Fanfare has been featured at Fanfare is ready to scale.
Our signature collection of London Fashion Week two
jeans made with material seasons in a row, as part of the
rescued from going to landfill. positive fashion initiative.
Sustainably Designed: A
conscious collection using
bio-degradable fibres, raising
the bar of what’s meant by
“sustainable”.
Fanfare Label is raising £190k (SEIS & EIS assured) on a pre-money valuation of £800k.
Tax relief depends on individual circumstances and may be subject to change in future.
REFERENCE:
1: Financial information based on Fanfare management information for the period of January 2019 to July 2021.
2: Growth of market calculated using data quoted by Common Objective and Business Of Fashion at:
https://commonobjective-uploads.storage.googleapis.com/resources/articles/1-Global-Market-d20.pdf
and https://www.commonobjective.co/article/the-size-of-the-global-fashion-retail-market 3
and http://cdn.businessoffashion.com/reports/The_State_of_Fashion_2020_Coronavirus_Update.pdf?int_sourc
FANFARE
FANFARE’S TWO AWARD-WINNING COLLECTIONS
FANFARE REPURPOSED SUSTAINABLY DESIGNED
Fanfare’s repurposed and sustainable collections are cool, fashion forward and
affordable, with a take-back scheme on every product. We are fully circular.
4
FANFARE
FANFARE SOLVES ENDEMIC PROBLEMS IN THE
FASHION INDUSTRY
PROBLEM FANFARE’S SOLUTION
336,000 tonnes of clothing is sent to landfill in the UK Fanfare’s signature collection of repurposed jeans is
every year.1 made from fabric rescued from going to landfill – we make
premium products from what others see as waste.
Majority of sustainable fashion in the market right now
lacks style and appeal to fashion-conscious customers. Fanfare’s products and design team are a cut above,
using experience from top fashion houses to match
Where fashion-forward sustainable clothing is currently fashion demands with ethical imperatives.
available, it’s too expensive.
Fanfare offers uncompromising standards of ethical and
Fast-fashion has no accountability for the lifecycle sustainable fashion at an attractive price point for the
of garments. Each year, $500 billion is lost due to the majority of consumers.
underutilisation of recyclable clothing. (Ellen MacArthur
Foundation, 2017). Fanfare offers a recycling take-back scheme on
every product to complete a comprehensive circular
proposition.
REFERENCE:
1: https://www.wrap.org.uk/content/textiles-overview 5
FANFARE
FANFARE REPURPOSED Winner of two awards.
This collection represents around 70% of our sales.
We manufacture a recycled collection
entirely from materials which would
otherwise end up in landfill.
Repurposed,
reused & recycled
Recycled from
UK Landfills
6
WHAT OTHERS SEE AS WASTE
FANFARE
WE SEE AS A STARTING POINT
Less than 1% of all materials Fanfare reduces waste by turning
produced for clothing are being clothing & textile waste into
recycled into new clothing.1 premium product.
We’re collaborating with Post consumer waste is not being
ReBlend on recycling complex mixed repurposed and we see this as
fabrics and post-consumer denim. an opportunity. Sophisticated,
intelligent reuse of existing materials.
REFERENCE
1: https://www.commonobjective.co/article/recycling-technological-breakthroughs-for-fashion
7
FANFARE
HOW WE MAKE FANFARE REPURPOSED
1 2 3
Give clothing a second 100% transparent Materials sent to our local
life with robust waste mappable supply chain. factories in UK.
streams in place for
material sourcing. EACH PAIR OF
JEANS SAVES
6 5 4
Circular buy back scheme Sent to customer in Lean & low risk. Quick to
available to re-purpose at recycled packaging. market with short lead times.
end of life.
FANFARE impact calculated from Fashion Revolution data 8
FANFARE
SUSTAINABLY DESIGNED
Our second collection, Sustainably Designed, represents 30% of sales. It uses the latest innovative
sustainable fabrics so Fanfare is able to map out its supply chain and align operations with the UN
Sustainable Development Goals protecting both people and the environment.
And here’s the t
consciously or not, 9
FANFARE
HOW WE MAKE SUSTAINABLY DESIGNED
MATERIAL SOURCED FROM CERTIFIED FARMERS & MANUFACTURERS.
USING TRULY BIODEGRADABLE SUSTAINABLE FABRICS THAT REGENERATE NATURAL SYSTEMS.
Gots Certified Oeko-Tex Linen Recycled
Organic Cotton Chemical free & eco dyed Flax is one of the most Recycled Clothing
Protects waters supplies, using water based ink in sustainable raw materials from landfill. Recycled
stops poisoning textiles, cotton garments. in the world. All parts of packaging. Recycled
tracked and protects the flax plant are used materials which would
workers. meaning no waste & fully have been burned.
bio-degradable. Trims used are made
from recycled materials,
including recycled paper.
10FANFARE
BOTH COLLECTIONS ARE FULLY CIRCULAR
With a recycling take-back scheme offered on every product, we are bringing significant disruption to old fashion industry supply-chain models.
We design our clothing to have multiple life cycles & create pieces that solve the end of life problem.
HOW OTHERS DO IT THE FANFARE WAY
take take
make make
use recycle use return
waste repair reuse
11FANFARE
FANFARE IS CHANGING FASHION AT EVERY LEVEL
CYCLED These four principles summarise everything we do:
RE C Contemporary- Produce seasonless clothing that is design led, modern & fashion
forward. Currently not available in the sustainable fashion space.
ON
S
Conscious - Collections are produced ethically with a mappable supply chain based
TEMPORA
U
in London and we are working with Human Trafficking charities to eradicate slavery
O
from fashion supply chains.
SCI
Circular - High quality clothing that lasts & promotes longevity. Made to be made
N
again, repair, reuse, re-create at scale.
CO
Y
R
Recycled - We give a solution to textile & clothing waste in London & ensure product
CIRCULAR life extension. Extending life of clothes with 360 approach & designing clothes that
last longer. Giving clothing new life & keeping products & materials in use.
12FANFARE
OUR LEADERSHIP IS BEING RECOGNISED
Featured in Forbes, Drapers, Evening Standard, The Sunday Times,
Grazia & Glamour. Spoken at 20+ sustainability focused events.
Fanfare’s founder, Esther Knight is increasingly being viewed as
a thought leader having been interviewed on radio, lectured at
universities & trained Oxfam personnel. All of this has been achieved
without investing in marketing or PR.
13FANFARE
MEET JEN
“I WANT TO BE MORE SUSTAINABLE IN MY FASHION CHOICES BUT IT IS OFTEN UNAFFORDABLE & INACCESSIBLE”
BEHAVIOUR PROFILE
The Fashion industry is redefining itself, resulting
Environmentally conscious
in a gap in the market for an affordable stylish
Quality over quantity clothing brand that considers social and
She is cool, trendy, fashionable, bold environmental responsibility.
Prioritises clothing purchases over others
Customers want exciting clothes.
DEMOGRAPHIC Fanfare appeals to a diverse range of
style-conscious individuals who don’t
Millennial & Gen Z want to compromise on ethics.
20-35 years old
ABC1 household
Working professional
Savvy on social
City based
Health conscious
Female
14FANFARE
BEACHHEAD MARKET: OPPORTUNITY
For sustainable runway fashion at an affordable price.
UK WOMEN AGED 25- 34 WHO ARE HIGH FREQUENCY SPENDERS
Search growth on “Affordable Sustainable Clothing” indicates
ETHICAL/SUSTAINABLE FASHION IS GROWING AT 3X THE RATE OF mass market interest is building momentum. (WGSN report, 2020)
THE WOMENSWEAR MARKET1
TOTAL ADDRESSABLE MARKET (TAM)
§742 BILLION2
“48% Average annual growth rate Global Womenswear market size
of sustainable Fashion brands.”
SERVICEABLE ADDRESSABLE MARKET (SAM)
Huffington Post, 2018 $239 BILLION3
EU Womenswear market size
SHARE OBTAINABLE MARKET (SOM)
In London alone there are 3m
TOP-DOWN: £206 MILLION4
women in this age group that
UK Womenswear market size
would pay more for sustainable
Bottom-up: £9.4 Million (short term target) if we sell
fashion & want to live the change.
to only 1% of these women (£124 AOV x 7.6 million
number of women in age-target in the UK)5
References:
1: Growth of market calculated using data quoted by Common Objective and Business Of Fashion at: https://commonobjective-uploads.storage.googleapis.com/resources/articles/1-Global-Market-d20.pdf
and https://www.commonobjective.co/article/the-size-of-the-global-fashion-retail-market and http://cdn.businessoffashion.com/reports/The_State_of_Fashion_2020_Coronavirus_Update.pdf?int_sourc
2: Calculated based on data available at Euromonitor via Common Objective: https://www.commonobjective.co/article/the-size-of-the-global-fashion-retail-market
3: https://www.statista.com/outlook/cmo/apparel/womens-apparel/europe
4: The Business Research Company via https://www.businesswire.com/news/home/20200619005202/en/Global-Ethical-Fashion-Market-to-Reach-8.25-Billion-by-2023-COVID-19-Adjusted---ResearchAndMarkets.com#:~:text=The%20global%20Ethical%20Fashion%20market,CAGR)%20of%20%2D3.24%25 15
5: Fanfare analysis based on data from Office National StatisticsFANFARE
THERE IS A GAP IN THE MARKET OTHER SUSTAINABLE BRANDS
+ Focus on sustainability
- Basicwear falls short of style expectations
- No recycled collections
Fanfare has advantage over high street brands too slow
Fanfare brings a new level of design to this
to pivot to the levels of sustainability now demanded.
price point in the sustainable fashion market.
We believe we outcompete other sustainable-focussed Toast
brands due to superior style and design and with a Know The Origin
circular buyback scheme, have a more comprehensive People Tree
proposition than anything else in the market. Birdsong
DESIGNER SUSTAINABLE BRANDS
+ High fashion product
- Typical price point is inaccessible to
HIGH STREET BRANDS
the average consumer
+ Mass market reach
Fanfare offers fashion-forward,
- Supply chains built around fast fashion Zara, H&M, COS, Vivienne Westwood
conscious collections, at a
model (making cheap clothes fast) &OtherStories Stella McCartney
price point that brings genuine
- Consumers aware of green washing Patrick McDowell
sustainability to mass market
Reformation
potential.
Fanfare’s supply chains are fully
mappable & transparent.
16FANFARE
CUSTOMERS LOVE OUR BRAND
Repurposed, Fanfare is my new favourite label. Amazing personal customer service, an
ethical product that cares about the impact fashion can have on people and
the planet, and beautiful, bespoke clothes. I love my jeans so much!
reused & - BETH
recycled Fanfare is such an awesome brand! Their clothes are unique - Esther and
her team have such an eye and create really special pieces you won’t find
anywhere else. They’re so passionate about sustainability too and having a
real impact in the world of fashion. A brilliant brand.
- EMILY
Outstanding from start to finish. The up-cycled jeans were a birthday present
and they’ve been worn pretty much every day since. Thank you.
- NICK
Genuine customer testimonials posted on Trustpilot
17FANFARE
WE ARE SEEKING
£190,000 TO SCALE
We are raising capital now in order to:
• Optimize our website for maximum conversion (£15k)
• Increase brand presence through Marketing and PR (£50k)
• Scale up manufacturing to increase margins (£40k)
• Growing our Marketing and Design team (£85k)
SEIS & EIS advanced assurance
Pre-money valuation of £800k
Current equity raise represents 19% of the business
Risk warning: tax relief depends on individual circumstances
and may be subject to change in the future.
18FANFARE
INVESTING FOR GROWTH
CAPITAL RAISE ALLOWS US TO UNLOCK SEVERAL PATHS TO GROWTH
DIGITAL MARKETING EXPORT STRATEGY SUPPLY CHAIN
WHOLESALE STRATEGY COLLABORATIONS
Implement our digital marketing Expand our export strategy to Investment into our supply
strategy, community building, reach new markets. chain so that it is entirely
influencer strategies & thought Opportunities in Europe & US transparent and is available to
leadership. for growing sustainability everyone on a ground breaking
markets. blockchain-based solution.
Develop wholesale & Working on collaborations with
marketplace sales strategy, high street retailers on their
expanding customer network. waste product & returns.
Expand B2B by using previous
season clothes. 19FANFARE
ONLINE STRATEGY
Our priorities in this area will be:
We have a vibrant, active community that loves our PR
product. We want to invest to build our customer base 1 Target high profile media & hire an agency for mass
& loyalty. market awareness & industry leaders.
Fanfare community has reached all corners of the DIGITAL MARKETING ADVERTISING
industry, from thrifty students to business leaders and 2 Targeted ad spend to boost organic growth &
celebrities. newsletter sign ups.
INFLUENCERS & CELEBRITIES
3 Targeting key influencers & celebrity stylists to
increase brand awareness.
FOUNDER KNOWLEDGE
4 Continue to lecture at universities, host events,
speak on panels & write articles for publications &
podcast features.
20FANFARE
WHOLESALE STRATEGY
We are already stocked with all the major sustainability platforms
including Not Just A Label, Young British Designers and Wolf & Badger.
The first collection saw huge success and went on to be featured at
London Fashion Week two seasons in a row, as well as Mercedes Benz
Russia Fashion Week.
Fanfare has been approved and stocked by several other sustainable fashion
stockists including Good On You and Gather&See and we are in advanced
talks with Selfridges about being stocked in their flagship London store.
We will continue to approach new wholesalers and strengthen our current
base.
21FANFARE
CURRENT AND NEXT 12 MONTHS TRADING
Fanfare has generated over £52k revenue since launch in January 2019 at gross margins of 60%. Extensive market testing and feedback on design has led
to impressive customer return rates and high average order values. The foundations for scale are in place.
SUMMARY FINANCIALS1
REVENUE GROSS MARGIN AVERAGE ORDER VALUE
£52k 60% £115
CUSTOMER KPIs2
RETURNING CUSTOMER RATE CUSTOMER LTV
16% £201
Reference
1: Fanfare management information for the period January 2019 - July 2021. Average order value refers to online
sales and is calculated by reference to total revenue divided by number of orders.
2: Fanfare management information for the 7 month period ending July 2021.
Risk warning: past sales data & revenue is not a reliable guide to future results. 22FANFARE
FORECASTING FURTHER AHEAD
Fanfare is poised to capitalise on tangible retail opportunities and with focussed and specific marketing activities can drive sales growth via multiple channels
in the next 3-5 years. We will invest to drive online sales growth by enhancing website traffic and conversion rates as well as expand our wholesale and
marketplace strategies both in the UK and overseas.
Source: Fanfare financial forecast model. Risk warning: forecasts are not a reliable guide to future results. 23FANFARE
OUR TEAM
ESTHER KNIGHT JOSIE JACKSON
CEO & CO-FOUNDER HEAD OF DESIGN
Over 12 years’ experience in the fashion industry having worked 10 years industry experience working for
for many high street & designer brands as a buyer, including high street designers.
Vivienne Westwood. After seeing first-hand the issues within
fashion supply changes I want to lead the change.
First Assistant Buyer to have her own range that turned over
£1.4 million in its first-year, the most successful newly launched
LINKEDIN
product range in the company’s history. Focused on the market
shift to sustainable fashion for nearly 10 years, leading to the
founding of Fanfare.
LINKEDIN
CATHERINE FULWOOD
MARKETING & SOCIAL
SUSAN LEACH
Previously worked at Google, By Rotation &
Get The Gloss. Focused on quick start up
CO-FOUNDER fashion growth.
Susan ran her own start-up hair & beauty brand for 20+ years.
After working in the Hair & Beauty industry, Susan sold her
successful wholesaling business to Dennis Williams, LINKEDIN
successful competitor and came on board with Fanfare in
2018.
24FANFARE
ADVISORY BOARD
LUCY HAINE FARAH COHEN MARTIN MORALES POPPY SZKILER KAREN FORBES
BRITISH EMBASSY FASHION GROWTH SUSTAINABILITY START-UP GROWTH DIGITAL MARKETING &
EXPORT ADVISOR ADVISOR ADVISOR ADVISOR BRANDING ADVISOR
Department of International COO, D2C Advisor, Start- Experienced CEO, NED, Founder & CEO Quiet Mark, Commercial & Growth
Trade focusing on assisting up Mentor, Sustainability consultant in Circular Serial Entrepreneur focusing Consultant | Brand Marketing |
companies trade Strategist. Economy, Sustainability, on growing businesses. Marketing Strategist.
internationally. Impact Investment, Social
Finance and Social
Leadership.
MENTORSHIP
PRODUCT SUPPORT LED BY BURBERRY PRODUCT SUPPORT SUSTAINABILITY BUSINESS STRATEGY
SUSTAINABILITY ADVISOR
25LET’S NOT GET TIRED OF DOING GOOD.
LONDON,
UNITED KINGDOM
FANFARE
FANFARELABEL.COM
@FANFARELABEL
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