Registration for our EIS equity raise is now open. Prior to Covid, Planks raised Equity at a share price of £0.23. Since then, we have raised Equity at a share price of £0.14, shoring up our balance sheet in response to a challenging time due to the pandemic.
Huge thanks to all our investors who have supported us through this challenging time. With you and our amazing community of loyal customers, we have traded through against all odds.
With a stronger brand, more efficient business and Franck Waterlot on board as Managing Director, we couldn’t be more excited about what the future holds for Planks.
Franck’s previous roles as Sales Director for Oakley (EMEA) and more recently GM of Burton Snowsports (EMEA), put him in a unique position to deliver the growth potential of the brand.
We are now raising a minimum of £500k for growth, at the same £0.14 share price. Supported by strong wholesale pre-orders and pent-up demand for skiing, we are forecasting record high revenues of c.£2m for FY23 and have exciting plans to continue to build the brand internationally.
This is a private round, available to our investor community and their network. All investors will be individually named on the cap table. There is a limit to the EIS equity available, so we warmly welcome you to register your interest to ensure that you are prioritised.
Thank you, Hugh and Jim Planks Founders
REGISTER YOUR INTEREST
Founded by Jim Adlington, Planks has a unique grassroots heritage as a British ski brand born in Val d’Isère, designed in Manchester and tested in the mountains. This blend, combined with an obsessive passion for skiing, makes for high performance, sustainable gear, which expresses the culture of one of the coolest cities in the world. Beyond product, Planks is an ever-growing global community bound by engaging experiences and shared vibes.
Our vision to show freeskiing culture to the mainstream market has become a reality. Planks’ authentic connection to its customers has enabled it to establish market share in the ski industry and beyond. Planks has credibility in the core ski market and is proving it can play in the lifestyle space, with the success of commercial accounts, such as ASOS.
Our strategy is to create multifunctional gear to enjoy mountain sports and everyday life. The urban-outdoor lifestyle is a high street trend, we believe this is where we can have continued success. It’s owning the customer who skis, bikes, climbs, hikes, goes to festivals and explores the cities.
We are a movement of off-beat humans creating change through skiing.
Our team are passionate about the brand’s purpose and what we stand for. Our founder, Jim Adlington is an ex-Pro-Skier, bringing wealth of contacts, credibility, and market knowledge having previously been sponsored by Vans, Oakley, Salomon and Patagonia. With Franck Waterlot as Managing Director, (previously GM of Burton Snowboards, EMEA), we couldn’t be more excited to execute on our plans for growth.
We have a distinct range of eco-conscious, technical outerwear and streetwear for skiers already to market, and a roadmap for multifunctional ranges for all seasons. Our established partnership with leading product agency “Ginkio” and having our Co-founder based in S.E. Asia means we’re well equipped to deliver.
We are committed to continuously reducing the impact our business and product has on the environment. Incorporating “GOTS” organic or “Repreve” recycled yarn in c.90% of our collection, has resulted in the recycling of c.2 million waste plastic bottles to date. We have taken the POW (Protect Our Winters) pledge to reduce carbon emissions 50% by 2030 and be NetZero by 2037. In addition to this, since launching our partnership with Eden Reforestation Projects, we have planted 15k trees to date, forecasting a further 20k in the next 12 months.
Prior to Covid, we achieved 40%-50% YoY revenue growth for 3 consecutive years growing from c.£520k in FY17 to c.£1.8m in FY20. We have recovered from Covid with FY23 revenues forecast at c.£2.1m (B2B pre-orders of c.£700k), and forecast a return to pre-COVID YoY growth to £11m revenues in 5 years.
We have an omnichannel distribution, selling D2C via our website, our Val d’Isère Store and via B2B distribution and retail partners.
Our D2C website represents c.50% of revenue, to 46 countries in last 12 months, 68% intake margin. Our 1st D2C order provides positive net contribution to profit (after marketing costs). We have high growth B2B partners: ASOS, Snow & Rock, Ellis Brigham (UK); Blue Tomato, Zalando (DACH); EVO (USA); Torpedo7 (NZ). And Planks Val d’Isère flagship store, alongside other specialist retailers across the French Alps: Woodcore (La Clusaz), Ride & Style (Val Thorens), Alpine Sports (Morzine).