Growthdeck: Kirk & Kirk

Kirk & Kirk   |  Retail
Target £300,000
Type Equity
Status Open

The Opportunity

Kirk Eyewear Limited (“the Company” or “Kirk & Kirk”) is a global eyewear brand seeking to raise £300k to increase overall market penetration and launch a new sunglasses range.

Kirk & Kirk designs and produces a range of luxury, handmade glasses and sunglasses. The Company has developed their own acrylic, from which they create a unique colour palette, that is light in weight and beautifully comfortable to wear. A near endless array of colours is possible through this acrylic, not available in other collections, allowing complete design freedom.

Despite the Covid-19 pandemic, innovative marketing and the launch of a series of new designs has enabled the Company to produce in excess of 40% year on year sales growth for the year to July 2021. These sales of £1.2m (2020 £886k) delivered a small operating profit of £65k (2020 loss £184k). This growth has continued since the year end.

The Company has more than 400 independent stockists worldwide and new wholesale accounts continued to be opened throughout the pandemic. Online sales have increased markedly in the past 12 months through the newly re-furbished online store at which now welcomes c.15,000 unique visitors each month. Management believe this can be grown significantly more with further investment, introducing cutting edge Virtual Try On software and continued development of The Online Collection.

Kirk & Kirk plans to launch its newly designed sunglasses range in 2022. These sunglasses will be marketed to both wholesale clients, via a specialist fashion accessory distributor that will provide access to the luxury stores suited to the Kirk & Kirk brand, and direct to consumers on the Kirk & Kirk website.

Kirk & Kirk is seeking a minimum investment of £300,000 for which Growthdeck has agreed an equity share of 4.46%, representing a pre-money valuation of £6.4m. Exit returns are targeted at 8.4x money invested (12x after Enterprise Investment Scheme (EIS) relief)

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Investment details

Fundraise target£300,000

Fundraise maximum£300,000

Minimum investment£5,000

Equity stake4.46% (max 4.46%)

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Company details

Name:Kirk Eyewear Limited

Address: Knoll Business Centre
325-327 Old Shoreham Road

Company no: 08601892

Incorporated: 09/07/13

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Please note

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