Pineapple Heads Limited By Megan Sanders

Pledgeme equity

About Pineapple Heads Limited


Hi! We're Pineapple Heads, a range of children's hair and bath products made in New Zealand from only the purest of pure stuff. No baddies allowed. We have an existing range of 8 products, sold throughout New Worlds supermarkets and 70 other retailers throughout New Zealand and Australia, and online.


Pineapple Heads Intergalactic Domination

Pineapple Heads is crowdfunding to raise money to onboard a team (rather than just me, my son Jimmy who is 4 years old and our two dogs!). The immediate need is two Sales Reps and an in-house Digital Account Manager by mid-June/July to roll out Pineapple Heads across New Zealand, aggressively opening up Nationwide distribution.
This bricks and mortar approach continues to build awareness of Pineapple Heads without needing to spend millions of dollars on above-the-line advertising.
However, this does mean we need to a craft a disruptive online strategy to achieve continued growth with online sales as well as focusing on our online presence across social media..

About the Share Offer

We are offering a minimum of 189,000 shares and up to a maximum of 383,000 shares at $1 each. This represents up to 11.3% of Pineapple Heads

Share types include Ordinary voting shares (for parcels of 20,000 shares and above) and non voting Investor shares (parcels of less than 20,000 shares).

Each Ordinary Share gives the holder the right to one vote at a meeting of shareholders. However, the Investor Shares do not give the holder the right to vote at meetings of shareholders.   In very limited circumstances (to ensure the shareholder's core rights are protected) each Investor Share gives the holder the right to one vote.  This only occurs where there is a proposal or resolution:

  • that will affect the rights attached to the Investor Shares
  • to put the company into liquidation
  • for the disposal of the whole, or a material part, of the property, business and undertaking of Pineapple Heads


Both the Ordinary Shares and the Investor Shares give the holders:


  1. The right to an equal share in dividends and other distributions made by Pineapple Heads (subject to the rights of any other class of share)
  2. The right to an equal share in the distribution of surplus assets of Pineapple Heads .


The constitution sets out other terms that will apply to any shareholding in Pineapple Heads .  You should read the constitution before pledging for shares.


About our Team

Well there is the Chief Pineappley Head (that's me!), my four year old son Jimmy and our two dogs; Daisy Leaf & Eddie Yo-Yo. 



A bit about me; My background is near on two decades in advertising, where I worked as an advertising executive for TBWA, M&C Saatchi and DDB across; London, Singapore and Melbourne.  I also worked remotely from New York and Miami before returning home to take up the role as General Manager of Tribal DDB NZ –this this was my last big grown up role before I decided hang up my suit and get on with creating Pineapple Heads

As Pineapple Heads begun to take shape I learned that I had a hell of lot to learn. Fortunately, I have some pretty incredible friends, guides and investors who helped keep my crazy ideas on track.

A few who have helped along the way:

  • Simon Duffy, CEO Bulldog (UK)
  • Steve Blackburn, Head of Xbox New Zealand
  • Stephen Sinclair, International CEO Trilogy
  • Mike van der Watt, Business Manger ANZ


What we've done so far

What’s been happening since our launch two years ago:

  • Over 70 retailers in NZ
  • Foodstuffs; current rollout concentrated on New World flagship stores
  • In negotiation with a distributor in Australia (our biggest Australian stockist)
  • Repeat business through retailers and online is growing
  • Unsolicited direct contact from retailers is increasing (daily!)
  • Overall sales are rapidly increasing month by month


The bricks before clicks approach has been important to the success of Pineapple Heads, ensuring we build the brand story at speed.


What's next?

Pineapple Heads changing the world one bath at a time


Growing the Family

We need to keep building the momentum through word of mouth and word of mouse.

Our active online community is currently over 10,000 and growing daily, and we listen to you on product development requests.


Growing the Plantation

We are onboarding two Sales Reps by mid-June/July to roll out Pineapple Heads across New Zealand, aggressively opening up Nationwide distribution. The focus is where we have approvals to stock with Foodstuffs; Upper North + Lower North Islands.

The bricks and mortar approach continues to build awareness of Pineapple Heads without needing to spend millions of dollars on above-the-line advertising.

As well as continuing to grow our online presence across the social media platform.


Growing the Base

We're focussing on Supermarkets & Salons both here and in Australia, Online Retailers, and growing our base of products (including, a new book!).



Pre- and post offer if fully subscribed.

Risks and Challenges




Loss of key staff: the loss of Megan Sanders would be a significant issue for Pineapple Heads

Our plan is to recruit some people to spread the load and reduce the businesses’ dependency on Megan. We intend to immediately recruit a social media specialist as well as two sales representatives for the New Zealand market.

We will also take out key person insurance of $3m to over Megan to provide the Company with a financial buffer to recruit a new CEO if she was unable to continue in this role.

Supply chain: our business is small and our suppliers may not have capacity to support our planned growth

We have carefully chosen our suppliers to ensure that they have capacity to handle growth

Supply chain: one of our key suppliers may cease to trade or be unable to continue to supply us

We have three key suppliers. In each case there are other potential suppliers who could supply us.

Revenue: Our disruptive online and social media strategy may not be effective in increasing sales to forecast levels

Pineapple Heads will be working with experts in the field with proven online buying and strategic capabilities. We are recruiting a digital account manager to manage social and online growth. Megan also has 20 years of advertising experience

Revenue: We may not achieve the forecast level of revenues in New Zealand

Our plan includes the recruitment of two full-time sales representatives to build on our existing level of business with salons and New World supermarkets

Revenue: We may not achieve the forecast level of revenues in Australia

We have an established distribution relationship with a leading Australian website based on natural and organic lifestyle options

Competition: A better resourced competitor may enter the market and may drive down prices

We are one of New Zealand’s leading natural hair and bath-care brand for children and have an established distribution relationship in Australia. We plan to rapidly build on this foundation with the funds raised through PledgeMe. This strategy should mitigate competitive risk



Note from PledgeMe

We have completed a Veda check on the company and their director, as well as a google check. There were no adverse findings.



    Pineapple Heads Intergalactic Space Ship Launches at 7 tonight

    04:13PM Thu 09/04/15 on Pineapple Heads Limited

    Hey all you amazing Pledgers & Campaign Followers (aka soon to be pledgers!)

    Exciting news - we made it!! 

    In less than 24 hours we've had over $90,000 pledged towards this equity campaign which means we've reached out target... and the Pineapple Heads Intergalactic Spaceship is set to Launch at 7PM tonight!!

    We still have room on the Space Ship though for anyone still considering the opportunity. We're oh-so-close to the $200,000 mark and reckon we can get there with your help :)

    I also want to say a huge thank you to everyone who has already invested, as well as to everyone who as helped me along the way (friends, family, previous investors, advisors and the team at PledgeMe - we did it guys!!).

    This is a very exciting time for myself and for Pineapple Heads... and I'm so excited to officially say welcome to the family!

    For you Campaign Followers keen to pledge before we take off you can find your way back to our page here (


    -- Megan

    Comment on this update:

    Win! The Big Pineapple Pineappley Escape.

    04:31PM Mon 06/04/15 on Pineapple Heads Limited

    You only need to pledge $500 to enter the Big Pineappley Escape. For those of you that have already pledged (you rock!), you are in the draw as long as we meet our goal. So share this image with your pineappley crowd and let's go intergalactic!



    Comment on this update:

    Across the ditch

    05:16PM Mon 23/03/15 on Pineapple Heads Limited

    Hi Pineapple Heads family,



    We have just returned from a whirlwind trip to Sydney to meet one of our biggest online retailers. In very exciting news, they just got bigger. They are now going to be our distributor into Pharmacies and Heath Food Stores across Australia - while we were there they also casually placed their first order in their distributor role for over $14,000.  Wahoo! 



    In other news we are close to our half way point on funds raised. Thank you so so so much for pledging to be a part of our crowd. If you wanted to share this campaign on with your crowd too, here's Jimmy celebrating where we've gotten to so far:

    Comment on this update:

    We're going intergalactic

    10:46AM Thu 19/03/15 on Pineapple Heads Limited

    Thank you all for your pledges so far, we've cracked the $50,000 mark!


    There is still a bit more room on this rocket ship though, so we'd love if you could share the image above with your Facebook and Twitter fans, with our link:


    Thanks so much for joining us on this international, inter-online, and intergalactic ride.


    x M


    ps. Extra special love to our $20,000 pledger last night, we don't know you but we love you!

    Comment on this update:

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    Offer Details

    Current Valuation 3,061,000
    Raise Minimum 189,000
    Raise Maximum 389,000
    Share Price 1.00
    Maximum Shares Offered 389,000
    Explanation of valuation:

    Discounted free cash flow based on 3 year forward projections. Discount rate of 50%p.a. applied to a terminal value based on 2x 12 month trailing revenues for year ended 31 December 2018

    Types of Shares

    There are two types of shares on offer. For pledges up to $19,999 investors will purchase non voting Investor Shares (as outlined in the constitution).

    For pledges over $20,000 investors will purchasing ordinary voting shares in Pineapple Heads, which are the same as the shares owned by the current shareholders.

    Financial Assumptions

    Our plan is to invest heavily in building online sales. We anticipate that the 2016 financial year will see strong growth dominated by online sales which will represent 60k of the 83k units we anticipate selling in the financial year.

    In the 2017 financial year we expect year on year growth of 40%p.a. reducing to 15%p.a. in the 2018 financial year as our base level of sales grow.

    Financial Summary

    Prev Year Current Year Est. FY 2020 Est. FY 2021
    Revenue $25,081 $75,383 $1,006,003 $3,891,181
    Operating Expenses $29,577 -$179,368 -$729,907 -$960,677
    EBITDA $2,634 -$128,036 -$67,952 $1,681,179
    Net Profit -$9,817 -$134,000 -$154,427 $1,164,327

    Company Details

    Company Name: Pineapple Heads Limited (registered as PINEAPPLE HEADS LIMITED)

    Company Number: 3725035

    Companies Office URL:

    Incorporation Date: 13 Feb 2012

    Company Status: Registered

    Entity Type: Registered

    Constitution Filed: No

    Annual Return Filing Month: May, last filed 25 Jun 2014


    Registered Office 8 Telford Avenue
    Mount Eden
    Address for Service 8 Telford Avenue
    Mount Eden

    Company Documents

    Documents no longer available to download, as this campaign has closed

    Director Details

    Name Role Profile URL Invested?
    Megan Sanders CEO

    Ask a Question (You must login to ask a question)

    Avatar small

    Hi Megan
    Great product branding and looks to be an exciting business for the future
    Just one question - based on the 3.4m shares @ $1 each, you value your business at $3.4m. Are you able to clarify this valuation.

    Posted on 16-03-2015 by Paul Brown

    Discounted free cash flow based on 3 year forward projections. Discount rate of 50%p.a. applied to a terminal value based on 2x 12 month trailing revenues for year ended 31 December 2018. :)

    Answered on 16-03-2015 by Megan Sanders

    Hi Megan:
    - are any of the ingredients derived from palm oil? and what is the foaming agent?
    - A strong theme of your marketing is the "no nasties". What aspirations, if any, do you have around social and environmental responsibility? Thanks

    Posted on 17-03-2015 by Sarah

    The core of the Pineapple Heads philosophy is 'no baddies allowed' - it extends not only to the ingredients we carefully choose, our stance on no animal testing, but also to our selection of business partners (like our family-owned New Zealand manufacturing and packaging company partners).

    Where we do to source ingredients offshore, like our parfume from a Paris-based company, we actively seek out partners who follow strict EcoCert natural practices.

    In two of our products - conditioner and detangler - we use an ingredient called cetyl alcohol which stops the oil and water within the product from separating. Cetyl alcohol does contain a very small amount of sustainable palm oil. We only use this ingredient because our supplier adheres to the certification regulations of the RSPO (Roundtable on Sustainable Palm Oil) supply chain certification, who are on a worldwide mission to ensure sustainable practice.

    I took a trip with my son to Borneo in 2013 to find out more and that visit really confirmed my professional and personal commitment to only using sustainable natural resources.

    Answered on 19-03-2015 by Megan Sanders

    Hi Megan
    In terms of your response to Paul re valuation you mention year ended 31 December 2018, but your projections are to March 2018. Should the response be to March 2018?

    You are forecasting revenue in 3 years of $5m. What % of the target market would this represent? Can you identify any other similar business that has achieved that type of revenue growth in that timeframe (I note Trilogy took 12-15 years to hit $16m of revenues).

    Posted on 18-03-2015 by Ralph Shale

    You’re right, the year end should be 31 March 2018 - oops!

    It isn’t easy to access reliable data on the market size for children’s natural haircare, so we can’t give you a 'true' estimate of market share.

    Not knowing Trilogy's revenue growth strategy I can't comment on why they took 12-15 years to achieve $16m of revenues. I can however comment on our plan (which is outlined within our page) we believe by delivering a disruptive marketing strategy - including social media, online advertising and PR - whilst on boarding a strong team around me these numbers are achievable.

    Answered on 19-03-2015 by Megan Sanders

    Hi- I can't see this in the Business plan but is there a lock up period for the initial investment? Also is there an anticipated dividend and (if so?) how often? Looks great by the way.

    Posted on 18-03-2015 by Maria OConnor

    There is no lockup period. Investor shares are freely transferrable at any time. Ordinary shares (investment over $20,000) are also transferable but are subject to pre-emptive rights contained in the Company’s constitution that require that they must first be offered to the other ordinary shareholders.

    The Business Plan assumes that all available cash will be re-invested in the business for further revenue growth. :)

    Answered on 19-03-2015 by Megan Sanders


      Tracy Miller
      2015-03-16 10:04:27 +1300

      Tracy Miller has pledged on 1 campaign

      “I am totally blown away with how professional and wonderful the marketing campaign is. Very proud of you Megan Sanders.”

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      2015-03-16 10:03:51 +1300

      Tracey Jones has pledged on 4 campaigns

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      2015-03-16 10:02:12 +1300

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      “Love the energy, innovation & "go get it" Kiwi attitude”

      This project was successful and got its funding on 09/04/2015 at 7:00 PM.

      This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Pineapple Heads Limited, you can sign up to be notified when a new equity campaign from this company is published.

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      Investor Perks

      NZ $500 - $19,999

      Investor Shares

      • Part ownership in one of the fastest growing childrens’ companies in NZ • Investor Shares (non voting), with equal rights to dividends, and any other financial distributions. • 5% investor discount on products through our online store • An invitation to the Pineapple Heads AGM

      NZ $20,000+

      Ordinary Shares

      • Part ownership in one of the fastest growing childrens’ companies in NZ • 15% investor discount off products through our online store. • Ordinary shares – with full voting rights • An invitation to the Pineapple Heads AGM

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.