Woolies Jeans

By Felix Watkins

PledgeMe.Investment

Product,



NZ $337,426 pledged


220 people pledged


Closed


NZ $50,000 minimum target


Min

NZ$50,000

Max

NZ$500,000

100 100% Complete

This campaign was successful and closed on 04/12/2021 at 12:00 PM.

Make a Pledge

About

Woolies Jeans

Dear Potential Investors,

In 2018, fed up with my wearing hot and sweaty jeans in a wool shed, shearing New Zealand sheep, I decided to improve on my work wear. The funny thing was that I knew that the perfect pair of jeans could be made out of the product I was working with everyday.

Merino keeps you cool when it's hot and warm when it's cold. What I wanted to do was create a jean, which had the same subtle style of a classic denim workwear jean, whilst offering me the benefits of which merino can offer on the inside. I had my mum help design me a pair.

We designed a fitted work jean with merino lining on the interior. After some trial and development, I haven’t worn a normal pair of jeans since. I have made a few pairs for close friends (in exchange for a few beers), who have told me I should be talking to runway models in Italy about my idea.

I’ve never known much about business but know that these are some of the best jeans I have seen across shearing in England, Ireland, Scotland, Australia and New Zealand. I want to use funds from crowdfunding Woolies in order to patent the designs and to help build a supply chain, with my team, to allow farmers and shearers worldwide to enjoy the product that I have been lucky enough to be able to make.

Yours sincerely,

Jovian Garcia Cummins

 

 

About our Team


What we've done so far

What's next?

Risks and Challenges

 

 

A Note from PledgeMe

We have completed Equifax checks on the company, Woolies Limited, and their Directors, as well as Google and Insolvency checks. One Director, Isaac Williams, has been noted to have one default on his credit report. There were no other adverse findings. 

Updates 6

Woolies Jeans - Last 24 Hours of Crowdfunding Campaign

03/12/2021 at 1:02 PM

Hello Everyone,

We are extremely thrilled with how our PledgeMe crowdfunding campaign has gone so far! We have raised over 5 times our minimum target, so are very appreciative of all of the support!

We look forward to being able to share all of our business success with our new investors in Woolies Jeans as we embark on this incredible journey.

With there now bbeing only 24 hours left of our crowdfund, this will be your last chance to purchase additional shares, before the crowdfund closes once and for all. 

Here is a link to the PledgeMe Campaign - 

https://www.pledgeme.co.nz/investments/491-woolies-jeans

Thank you everyone,

Woolies Team

An Update from Woolies Jeans

30/11/2021 at 2:40 PM

Update to our Investors on our Valuation

To our investors,

Part 1: Introduction

We have been asked to provide more information in regards to our post-raise company valuation of $5,000,000 using the Berkus Method.

We would like to take this opportunity to explain how we have used the original Berkus Method (invented in 1995) and have adjusted it for inflation and USD to NZD exchange rates.

Outlined below is how we have applied the Berkus Method including the assumptions made and how value has been assigned to each of the ‘key drivers’ of the model to arrive at our company valuation.

Part 2: Opportunity to exit investment

If you would like to cancel your pledge and withdraw from the equity crowdfunding campaign you may do so by sending an email to [email protected]

If anyone has a problem with our use of the Berkus Method or valuation, we would like to take this opportunity to give everyone the option to cancel their Pledge. 

Part 3: Our explanation of valuation and use of the Berkus Methodology

The maximum valuation a pre-revenue company can have using the Berkus Method is $2M USD.

The maximum assigned value to each value driver is $500K USD.

We have adjusted this to take into account inflation from when the method was created in 1995.

We have also adjusted this to take into account currency conversion between USD to NZD.

This can be seen below resulting in a final equation of 5,317,278.33 NZD as of 1st December, 2021.

3.1 Break down of our use of the Berkus Method


For the purposes of keeping the Share Price at $1.00 we have rounded this figure down to $5M NZD.

3.2. What is the Berkus Method?

The Berkus Method is a way to value early-stage companies, especially those in technology, developed by American angel investor Dave Berkus in the mid-1990s.

Source: https://www.ilab.ceu.edu/articles/4-best-ways-to-calculate-valuation-of-a-startup

3.3 Why was the Berkus Method used for the valuation of Woolies?

The Berkus valuation method is a straightforward model to value a  pre-revenue company. The Berkus method gives entrepreneurs and early-stage investors a simple tool to value a pre-revenue startup by focusing on risk factors instead of financial projections.

The Berkus method offers budding entrepreneurs and early-stage investors a straightforward framework that allows them to focus on the risk factors rather than final projections to estimate a pre-revenue startup. However, this method’s integrity is not a replacement for the startup’s need to conduct comprehensive due diligence.

3.4. How does the Berkus Method work?

The Berkus Method assigns a number, a financial valuation, to each major elements of risk faced by all young companies – after crediting the entrepreneur some basic value for the quality and potential of the idea itself. 

Below is each of the major elements and assignment values sourced from Berkonomics.com.

Source: https://berkonomics.com/?p=1214

Below is an assessment of how we have used the Berkus Method in relation to our current business position.

Please note: These value drivers have been updated on 02/12/21.

✅ Sound idea ~ NZ $1,326,030.10 (Inflation Adjusted / Currency Adjusted)

Non Inflation / Non-Currency Adjusted = $500K USD 

We feel we have created a product which can improve the quality and comfort of work wear.

✅ Prototype ~  NZ $1,326,030.10  (Inflation Adjusted / Currency Adjusted)

Non Inflation / Non-Currency Adjusted = $500K USD

We have developed a prototype which is ready for sale to customers.

✅ Quality Management Team ~  NZ $1,326,030.10 (Inflation Adjusted / Currency Adjusted)

Non Inflation / Non-Currency Adjusted = $500K USD

A balanced management team with success in previous business endeavours.

✅ Strategic Relationships ~ NZ $1,326,030.10 (Inflation Adjusted / Currency Adjusted)

Non Inflation / Non-Currency Adjusted = $500K USD

Established relationships with a network of NZ farmers.

Note: We have rounded down our post-raise valuation of $5,317,278.33 NZD to $5,000,000 NZD to allow for a Share Price of $1.00.

3.5 How has Woolies arrived at our post-raise valuation of $5,000,000 NZD using exchange rate and inflation adjustments?

As outlined above in the Berkus Method, the maximum pre-revenue valuation for a start-up using the Berkus Method allows for a valuation of up to $2 million.

We have adjusted this maximum to include inflation adjustments and USD to NZD currency conversion as follows:

$2,000,000 USD inflation adjusted from 1995 – Present Day = $3,629,776.90 USD


Source: https://www.usinflationcalculator.com

$3,629,776.90 USD exchange rate adjusted from USD to NZD = $5,317,278.33 NZD


Source: https://www.google.com/search?q=3%2C629%2C776.90+usd+to+nzd

A Big Thank You to All of our New Investors in Woolies Jeans

30/11/2021 at 2:40 PM

We would like to send this message to say thank you so much to all of our new investors for your support.

There are now only 4 days left of the crowdfund so the opportunity to purchase shares is now coming to an end.

To purchase shares, simply click on 'Make a Pledge' on the Pledgeme website. If you have already invested, it is still possible to purchase more shares.

We are extremely excited about what the future will bring and how we can grow our incredible product.

During the crowdfund, we have been testing our protypes on some individuals, who have arthritis, that have indicated that their knee pain has been significantly reduced, due to the anti-inflammatory nature of our merino, in Woolies Jeans. 

We all look forward to seeing how we can continue research on this next year and how we can communicate this potential benefit to our future customers.

We also look forward to sending the first lines of our jeans to all of the investors, who have invested at least $2,500.

Have a fantastic day, and make sure to tell a friend about Woolies Jeans!

Kind Regards,

Woolies Team

 

 

‘Woolies Jeans’ Raises $239,476 Halfway Through PledgeMe Crowdfunding Campaign

04/11/2021 at 8:55 AM

Woolies Jeans, a startup company created by farmer Jovian Garcia-Cummins, has completed the first of a 2 month equity crowdfunding campaign via PledgeMe, generating $239,476 in new funds. The investors are not the typical private equity or angels, but rather 175 fans, who turned their enthusiasm into company shares.

Woolies are not your everyday jeans. They are designed to ‘keep you cool when you are hot and warm when it’s cold’ and utilize NZ Merino to do so. “They will be the most comfortable pair of jeans on the market - always made in NZ” says founder Jovian Garcia Cummins. The jeans are lined with a special type of merino so customers get a traditional jean exterior denim look, with a comfortable merino interior.

The crowd-funding campaign, which kicked off in early October, hit its minimum target of $50,000 within a few days. The average investment has been around $1,400 per person. New investors can still invest via Pledgeme.co.nz and clicking on the Woolies Jeans Campaign. Investors who have already invested are still able to invest more - should they decide to do so.

The company is aiming to take ‘NZ Made’ merino wool jeans worldwide and is planning on using the crowdfunding funds to do so.

“I want to give everyone the opportunity to invest into this company from day 1,” Jovian Garcia-Cummins says, of the brand’s decision to raise money via the crowdfunding route with PledgeMe.

“A friend of mine was extolling the crowd-funding space. It’s the ultimate smart money because you’re raising money from people who love your product and will evangelise and become advocates for your brand.”

 

“Not only will they invest and buy your product, but they will tell other people about and spread the word,” he adds. And just like that: Woolies Jeans has nearly 200 new brand ambassadors.

Still, Garcia-Cummins says, the crowd-funding bet wasn’t a sure thing. There are plenty of start-ups that fail to meet their goals. And there’s a lot of preparation before the launch, including investor videos, decks, and PledgeMe checks.

Now facing a waiting list and an increasing demand for his product, Garcia-Cummins says he’s very excited for what might unfold in 2022.

Following the successful fund raise, Woolies Jeans is planning on an expansion for the brand, including putting out a mens and women’s line of merino lined jeans and making available worldwide.

To find out more and check the progress of the crowdfunding campaign, go to https://www.pledgeme.co.nz/investments/491-woolies-jeans

 

We're 17% of Being Fully Funded

14/10/2021 at 2:52 PM

Thank you! It's been a fantastic start to the campaign - more than 100 of you have joined us as owners and shareholders of Woolies Limited.

It's thanks to people like you that we're here, about to take NZ merino jeans to the world stage and help NZ so much!

We are extremely excited about producing these jeans on scale and to have so many happy customers, when they buy these jeans!!

It's so encouraging to read the comments our investors make when they pledge.

Thanks for your support!

Woolies Team

Thank you to our investors so far!

09/10/2021 at 10:15 AM

Thank you so much to everyone who has already backed this exciting company - let's all take these jeans WORLDWIDE!

We've hit the minimum investment we need to raise but we really want to achieve our maximum investment target of $500,000. We are very grateful for all of your support!

Here are the links of some of the media Woolies Jeans has been in -

Stuff.co.nz -
https://www.stuff.co.nz/life-style/fashion/126552894/shearers-plan-to-create-the-worlds-most-comfortable-pair-of-jeans

NZ Herald -
https://www.nzherald.co.nz/hawkes-bay-today/news/hawkes-bay-shearer-fed-up-with-uncomfortable-pants-launches-merino-jeans/SVANQYIZHC67OXJHQFNVC25ERU/

Otago Daily Times -
https://www.odt.co.nz/rural-life/rural-people/shearer-aiming-take-jeans-product-world-stage

We are thrilled to have you all onboard as investors! Please feel free to invest again or share the Woolies Jeans crowdfund with friends and family as we enter this amazing journey together.

Thanks so much and I hope you enjoy the audio of Jovian LIVE on the Jono and Ben Show linked below:

https://www.youtube.com/watch?v=MFfDkrzPlI8

    Details

    Offer Details

    Current Valuation 4,500,000
    Raise Minimum 50,000
    Raise Maximum 500,000
    Share Price 1.00
    Minimum Pledge 250.00
    Maximum Shares Offered 500,000
    Explanation of valuation:

    Our valuation has been created with the help of our advisors. It is based on the Berkus method of valuation, which is commonly used by venture capitalists to create valuations for pre-revenue “start-ups”.

    Financial Summary

    Prev Year Current Year Est. FY 2025 Est. FY 2026
    Revenue NZ $0 NZ $0 NZ $1,176,000 NZ $1,764,000
    Operating Expenses NZ $0 NZ $200,000 NZ $217,500 NZ $313,750
    EBITDA NZ $0 NZ $ NZ $ NZ $
    Net Profit NZ $0 -NZ $200,000 NZ $478,500 NZ $730,250

    Company Details

    Company Name: Woolies Limited

    Company Number: 8204532

    Company Documents

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

    Director Details

    Name Role Profile URL Invested?
    Felix Watkins Director https://nz.linkedin.com/in/felix-watkins
    Isaac Williams Director https://nz.linkedin.com/in/isaac-williams-82906b100
    Jovian Garcia-Cummins Director http://

    Questions 9


    Hi Jovian, thought I'd check in to see how process is going and to understand what channels you the thinking of using to bring your shareholders along on the Woolies journey?

    Posted on 23-05-2022 by Sam Saxton

    Good afternoon
    Can you please tell me when we can expect to receive our financial report etc.

    Posted on 06-04-2022 by sam stoddart

    Good morning
    I know I have pledged. When will you need the funds please ?
    Sam

    Posted on 13-11-2021 by sam stoddart

    Hi Sam,

    Thanks so much for the support. The close of the crowdfund is on the 4th December and pledgers will have 2 weeks upon this date to make payment- so anything before 18th December 2021.

    Thanks

    Answered on 15-11-2021 by Felix Watkins


    Hi Jovian. Could you please provide more details of your plan for spending on marketing and production/supply chain development? Also, who are the advisors that helped with the valuation? Do you plan on getting further support from them? Cheers!

    Posted on 09-11-2021 by Emily

    Hi Emily,

    Around 90% of All Birds sales are online so I am planning on doing highly targeted social media advertising predominantly. With supply chain, we will be initially relying on outsourcing this but will develop this ourselves more and more into the future. A lot of the advisors who have helped are industry connections through our team and yes, we do plan on using them into the future.

    Thanks

    Answered on 15-11-2021 by Felix Watkins


    A couple of questions, are you concerned about the name Woolies, it is the name most people refer Woolworths supermarket to (in Australia anyway), have Woolworths got any rights over this name? My other question is wearability, how many times can you wear the jeans before needing to wash them, referring to how the merino absorbs moisture and how long does a pair take to dry after a wash?

    Posted on 09-11-2021 by Loretta Taylor

    Hi Loretta,

    The trademark for Woolworths is for supermarkets so we see it as quite different to the jeans and don't think there should be too much confusion - we just really like the name. I have been washing them basically similar to the timeframe of normal jeans and the drying has been good - just very similar to normal jeans overall.

    Thanks

    Answered on 15-11-2021 by Felix Watkins


    Hi Jovian - In terms of your forward projections, are your current team planning on drawing salaries, or hiring people. I imagine that this will very quickly become a full-time job for one or more people, and there doesn't appear to be much (if any) provision for that in the forecasts.

    Posted on 07-10-2021 by Adrian Edge

    Hi Adrian,

    We haven't factored in salaries because the the current team all have a shareholding in Woolies Limited and are able to work on a voluntarily basis.

    Thanks

    Answered on 08-10-2021 by Felix Watkins


    How many pairs have you made and sold to date?

    Posted on 05-10-2021 by Paul Naske

    Hi Paul, I haven't sold any pairs so far. Selling the jeans can influence the design patent - hence why I am trying to raise money so I can patent and then sell afterwards. Thanks.

    Answered on 06-10-2021 by Felix Watkins


    Doesn’t the Berkus Method have category maximums of 500k?

    Posted on 04-10-2021 by Adrian Edge

    Yes, but we have adjusted it for New Zealand currency and inflation for 2021.

    Answered on 04-10-2021 by Felix Watkins


    I am unsure of your valuation. Can you please provide more information of how you used the Berkus Method to calculate this?

    Posted on 04-10-2021 by Adrian Edge

    Hi Adrian,

    Thank you for your question. The valuation has been determined using the Berkus Method as follows:

    ✅ Sound idea ~ $2M

    ✅ Prototype ~ $1M

    ✅ Quality Management Team ~ $1M

    ✅ Strategic Relationships ~ $1M

    Cheers

    Answered on 04-10-2021 by Felix Watkins

    Pledgers 220

    Stella Khoo Pheng Kian
    21/10/2021 at 10:52am
    Hayden Bonner
    21/10/2021 at 10:40am
    Peta Baxter
    21/10/2021 at 9:34am

    "Good Luck!"

    Geoff Simons
    21/10/2021 at 9:26am
    Judith
    21/10/2021 at 9:07am
    Andrew Searle
    20/10/2021 at 8:23pm
    Pat Turnock
    20/10/2021 at 8:15pm
    Mark & Sally-Ann Copland
    20/10/2021 at 9:54am

    "Sheep farmer looking forward to woollies Jean's. Pleased to get rid off plastic pants Southland farmer's Mark and Sally-Ann. "

    Xan Hamilton
    20/10/2021 at 9:16am
    Grant R Meikle
    19/10/2021 at 9:01pm
    [email protected]
    19/10/2021 at 3:22pm
    Sean Magin
    19/10/2021 at 1:28pm
    Brian Cartmell
    19/10/2021 at 1:11pm
    Jim Robinson
    19/10/2021 at 9:36am
    Hugh
    19/10/2021 at 6:07am
    Jan French
    18/10/2021 at 11:25pm
    Sean
    18/10/2021 at 8:54pm
    Jane stevens
    18/10/2021 at 5:51pm
    Andrew Grace
    18/10/2021 at 4:13pm

    "Good luck with the venture - excited to be a part of it in a small way!"

    Lynley Deaker- Breeze
    18/10/2021 at 4:08pm
    Heather McMillan
    18/10/2021 at 11:29am
    Pip Joyce
    18/10/2021 at 11:25am
    Alex La Roche
    18/10/2021 at 11:19am

    "Good luck. great idea. 🐑"

    Jo Tagg
    18/10/2021 at 10:19am

    "exciting idea, all the best"

    Philip Riley
    18/10/2021 at 8:52am
    Rachelle Crosbie
    17/10/2021 at 8:02pm

    "I love the concept of this, here's hoping it goes well for you guys."

    Nicholas Walshe
    17/10/2021 at 5:53pm
    Rory
    17/10/2021 at 5:50pm
    Stephen Plaskas
    14/10/2021 at 12:35pm
    Adrian Claydon
    14/10/2021 at 9:51am

    "Jeanius"

    Woolies Jeans

    Dear Potential Investors,

    In 2018, fed up with my wearing hot and sweaty jeans in a wool shed, shearing New Zealand sheep, I decided to improve on my work wear. The funny thing was that I knew that the perfect pair of jeans could be made out of the product I was working with everyday.

    Merino keeps you cool when it's hot and warm when it's cold. What I wanted to do was create a jean, which had the same subtle style of a classic denim workwear jean, whilst offering me the benefits of which merino can offer on the inside. I had my mum help design me a pair.

    We designed a fitted work jean with merino lining on the interior. After some trial and development, I haven’t worn a normal pair of jeans since. I have made a few pairs for close friends (in exchange for a few beers), who have told me I should be talking to runway models in Italy about my idea.

    I’ve never known much about business but know that these are some of the best jeans I have seen across shearing in England, Ireland, Scotland, Australia and New Zealand. I want to use funds from crowdfunding Woolies in order to patent the designs and to help build a supply chain, with my team, to allow farmers and shearers worldwide to enjoy the product that I have been lucky enough to be able to make.

    Yours sincerely,

    Jovian Garcia Cummins

     

     

    About our Team


    What we've done so far

    What's next?

    Risks and Challenges

     

     

    A Note from PledgeMe

    We have completed Equifax checks on the company, Woolies Limited, and their Directors, as well as Google and Insolvency checks. One Director, Isaac Williams, has been noted to have one default on his credit report. There were no other adverse findings. 

    Woolies Jeans - Last 24 Hours of Crowdfunding Campaign

    03/12/2021 at 1:02 PM

    Hello Everyone,

    We are extremely thrilled with how our PledgeMe crowdfunding campaign has gone so far! We have raised over 5 times our minimum target, so are very appreciative of all of the support!

    We look forward to being able to share all of our business success with our new investors in Woolies Jeans as we embark on this incredible journey.

    With there now bbeing only 24 hours left of our crowdfund, this will be your last chance to purchase additional shares, before the crowdfund closes once and for all. 

    Here is a link to the PledgeMe Campaign - 

    https://www.pledgeme.co.nz/investments/491-woolies-jeans

    Thank you everyone,

    Woolies Team

    An Update from Woolies Jeans

    30/11/2021 at 2:40 PM

    Update to our Investors on our Valuation

    To our investors,

    Part 1: Introduction

    We have been asked to provide more information in regards to our post-raise company valuation of $5,000,000 using the Berkus Method.

    We would like to take this opportunity to explain how we have used the original Berkus Method (invented in 1995) and have adjusted it for inflation and USD to NZD exchange rates.

    Outlined below is how we have applied the Berkus Method including the assumptions made and how value has been assigned to each of the ‘key drivers’ of the model to arrive at our company valuation.

    Part 2: Opportunity to exit investment

    If you would like to cancel your pledge and withdraw from the equity crowdfunding campaign you may do so by sending an email to [email protected]

    If anyone has a problem with our use of the Berkus Method or valuation, we would like to take this opportunity to give everyone the option to cancel their Pledge. 

    Part 3: Our explanation of valuation and use of the Berkus Methodology

    The maximum valuation a pre-revenue company can have using the Berkus Method is $2M USD.

    The maximum assigned value to each value driver is $500K USD.

    We have adjusted this to take into account inflation from when the method was created in 1995.

    We have also adjusted this to take into account currency conversion between USD to NZD.

    This can be seen below resulting in a final equation of 5,317,278.33 NZD as of 1st December, 2021.

    3.1 Break down of our use of the Berkus Method


    For the purposes of keeping the Share Price at $1.00 we have rounded this figure down to $5M NZD.

    3.2. What is the Berkus Method?

    The Berkus Method is a way to value early-stage companies, especially those in technology, developed by American angel investor Dave Berkus in the mid-1990s.

    Source: https://www.ilab.ceu.edu/articles/4-best-ways-to-calculate-valuation-of-a-startup

    3.3 Why was the Berkus Method used for the valuation of Woolies?

    The Berkus valuation method is a straightforward model to value a  pre-revenue company. The Berkus method gives entrepreneurs and early-stage investors a simple tool to value a pre-revenue startup by focusing on risk factors instead of financial projections.

    The Berkus method offers budding entrepreneurs and early-stage investors a straightforward framework that allows them to focus on the risk factors rather than final projections to estimate a pre-revenue startup. However, this method’s integrity is not a replacement for the startup’s need to conduct comprehensive due diligence.

    3.4. How does the Berkus Method work?

    The Berkus Method assigns a number, a financial valuation, to each major elements of risk faced by all young companies – after crediting the entrepreneur some basic value for the quality and potential of the idea itself. 

    Below is each of the major elements and assignment values sourced from Berkonomics.com.

    Source: https://berkonomics.com/?p=1214

    Below is an assessment of how we have used the Berkus Method in relation to our current business position.

    Please note: These value drivers have been updated on 02/12/21.

    ✅ Sound idea ~ NZ $1,326,030.10 (Inflation Adjusted / Currency Adjusted)

    Non Inflation / Non-Currency Adjusted = $500K USD 

    We feel we have created a product which can improve the quality and comfort of work wear.

    ✅ Prototype ~  NZ $1,326,030.10  (Inflation Adjusted / Currency Adjusted)

    Non Inflation / Non-Currency Adjusted = $500K USD

    We have developed a prototype which is ready for sale to customers.

    ✅ Quality Management Team ~  NZ $1,326,030.10 (Inflation Adjusted / Currency Adjusted)

    Non Inflation / Non-Currency Adjusted = $500K USD

    A balanced management team with success in previous business endeavours.

    ✅ Strategic Relationships ~ NZ $1,326,030.10 (Inflation Adjusted / Currency Adjusted)

    Non Inflation / Non-Currency Adjusted = $500K USD

    Established relationships with a network of NZ farmers.

    Note: We have rounded down our post-raise valuation of $5,317,278.33 NZD to $5,000,000 NZD to allow for a Share Price of $1.00.

    3.5 How has Woolies arrived at our post-raise valuation of $5,000,000 NZD using exchange rate and inflation adjustments?

    As outlined above in the Berkus Method, the maximum pre-revenue valuation for a start-up using the Berkus Method allows for a valuation of up to $2 million.

    We have adjusted this maximum to include inflation adjustments and USD to NZD currency conversion as follows:

    $2,000,000 USD inflation adjusted from 1995 – Present Day = $3,629,776.90 USD


    Source: https://www.usinflationcalculator.com

    $3,629,776.90 USD exchange rate adjusted from USD to NZD = $5,317,278.33 NZD


    Source: https://www.google.com/search?q=3%2C629%2C776.90+usd+to+nzd

    A Big Thank You to All of our New Investors in Woolies Jeans

    30/11/2021 at 2:40 PM

    We would like to send this message to say thank you so much to all of our new investors for your support.

    There are now only 4 days left of the crowdfund so the opportunity to purchase shares is now coming to an end.

    To purchase shares, simply click on 'Make a Pledge' on the Pledgeme website. If you have already invested, it is still possible to purchase more shares.

    We are extremely excited about what the future will bring and how we can grow our incredible product.

    During the crowdfund, we have been testing our protypes on some individuals, who have arthritis, that have indicated that their knee pain has been significantly reduced, due to the anti-inflammatory nature of our merino, in Woolies Jeans. 

    We all look forward to seeing how we can continue research on this next year and how we can communicate this potential benefit to our future customers.

    We also look forward to sending the first lines of our jeans to all of the investors, who have invested at least $2,500.

    Have a fantastic day, and make sure to tell a friend about Woolies Jeans!

    Kind Regards,

    Woolies Team

     

     

    ‘Woolies Jeans’ Raises $239,476 Halfway Through PledgeMe Crowdfunding Campaign

    04/11/2021 at 8:55 AM

    Woolies Jeans, a startup company created by farmer Jovian Garcia-Cummins, has completed the first of a 2 month equity crowdfunding campaign via PledgeMe, generating $239,476 in new funds. The investors are not the typical private equity or angels, but rather 175 fans, who turned their enthusiasm into company shares.

    Woolies are not your everyday jeans. They are designed to ‘keep you cool when you are hot and warm when it’s cold’ and utilize NZ Merino to do so. “They will be the most comfortable pair of jeans on the market - always made in NZ” says founder Jovian Garcia Cummins. The jeans are lined with a special type of merino so customers get a traditional jean exterior denim look, with a comfortable merino interior.

    The crowd-funding campaign, which kicked off in early October, hit its minimum target of $50,000 within a few days. The average investment has been around $1,400 per person. New investors can still invest via Pledgeme.co.nz and clicking on the Woolies Jeans Campaign. Investors who have already invested are still able to invest more - should they decide to do so.

    The company is aiming to take ‘NZ Made’ merino wool jeans worldwide and is planning on using the crowdfunding funds to do so.

    “I want to give everyone the opportunity to invest into this company from day 1,” Jovian Garcia-Cummins says, of the brand’s decision to raise money via the crowdfunding route with PledgeMe.

    “A friend of mine was extolling the crowd-funding space. It’s the ultimate smart money because you’re raising money from people who love your product and will evangelise and become advocates for your brand.”

     

    “Not only will they invest and buy your product, but they will tell other people about and spread the word,” he adds. And just like that: Woolies Jeans has nearly 200 new brand ambassadors.

    Still, Garcia-Cummins says, the crowd-funding bet wasn’t a sure thing. There are plenty of start-ups that fail to meet their goals. And there’s a lot of preparation before the launch, including investor videos, decks, and PledgeMe checks.

    Now facing a waiting list and an increasing demand for his product, Garcia-Cummins says he’s very excited for what might unfold in 2022.

    Following the successful fund raise, Woolies Jeans is planning on an expansion for the brand, including putting out a mens and women’s line of merino lined jeans and making available worldwide.

    To find out more and check the progress of the crowdfunding campaign, go to https://www.pledgeme.co.nz/investments/491-woolies-jeans

     

    We're 17% of Being Fully Funded

    14/10/2021 at 2:52 PM

    Thank you! It's been a fantastic start to the campaign - more than 100 of you have joined us as owners and shareholders of Woolies Limited.

    It's thanks to people like you that we're here, about to take NZ merino jeans to the world stage and help NZ so much!

    We are extremely excited about producing these jeans on scale and to have so many happy customers, when they buy these jeans!!

    It's so encouraging to read the comments our investors make when they pledge.

    Thanks for your support!

    Woolies Team

    Thank you to our investors so far!

    09/10/2021 at 10:15 AM

    Thank you so much to everyone who has already backed this exciting company - let's all take these jeans WORLDWIDE!

    We've hit the minimum investment we need to raise but we really want to achieve our maximum investment target of $500,000. We are very grateful for all of your support!

    Here are the links of some of the media Woolies Jeans has been in -

    Stuff.co.nz -
    https://www.stuff.co.nz/life-style/fashion/126552894/shearers-plan-to-create-the-worlds-most-comfortable-pair-of-jeans

    NZ Herald -
    https://www.nzherald.co.nz/hawkes-bay-today/news/hawkes-bay-shearer-fed-up-with-uncomfortable-pants-launches-merino-jeans/SVANQYIZHC67OXJHQFNVC25ERU/

    Otago Daily Times -
    https://www.odt.co.nz/rural-life/rural-people/shearer-aiming-take-jeans-product-world-stage

    We are thrilled to have you all onboard as investors! Please feel free to invest again or share the Woolies Jeans crowdfund with friends and family as we enter this amazing journey together.

    Thanks so much and I hope you enjoy the audio of Jovian LIVE on the Jono and Ben Show linked below:

    https://www.youtube.com/watch?v=MFfDkrzPlI8

      Offer Details

      Current Valuation 4,500,000
      Raise Minimum 50,000
      Raise Maximum 500,000
      Share Price 1.00
      Minimum Pledge 250.00
      Maximum Shares Offered 500,000
      Explanation of valuation:

      Our valuation has been created with the help of our advisors. It is based on the Berkus method of valuation, which is commonly used by venture capitalists to create valuations for pre-revenue “start-ups”.

      Financial Summary

      Prev Year Current Year Est. FY 2025 Est. FY 2026
      Revenue NZ $0 NZ $0 NZ $1,176,000 NZ $1,764,000
      Operating Expenses NZ $0 NZ $200,000 NZ $217,500 NZ $313,750
      EBITDA NZ $0 NZ $ NZ $ NZ $
      Net Profit NZ $0 -NZ $200,000 NZ $478,500 NZ $730,250

      Company Details

      Company Name: Woolies Limited

      Company Number: 8204532

      Company Documents

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

      Director Details

      Name Role Profile URL Invested?
      Felix Watkins Director https://nz.linkedin.com/in/felix-watkins
      Isaac Williams Director https://nz.linkedin.com/in/isaac-williams-82906b100
      Jovian Garcia-Cummins Director http://

      Hi Jovian, thought I'd check in to see how process is going and to understand what channels you the thinking of using to bring your shareholders along on the Woolies journey?

      Posted on 23-05-2022 by Sam Saxton

      Good afternoon
      Can you please tell me when we can expect to receive our financial report etc.

      Posted on 06-04-2022 by sam stoddart

      Good morning
      I know I have pledged. When will you need the funds please ?
      Sam

      Posted on 13-11-2021 by sam stoddart

      Hi Sam,

      Thanks so much for the support. The close of the crowdfund is on the 4th December and pledgers will have 2 weeks upon this date to make payment- so anything before 18th December 2021.

      Thanks

      Answered on 15-11-2021 by Felix Watkins


      Hi Jovian. Could you please provide more details of your plan for spending on marketing and production/supply chain development? Also, who are the advisors that helped with the valuation? Do you plan on getting further support from them? Cheers!

      Posted on 09-11-2021 by Emily

      Hi Emily,

      Around 90% of All Birds sales are online so I am planning on doing highly targeted social media advertising predominantly. With supply chain, we will be initially relying on outsourcing this but will develop this ourselves more and more into the future. A lot of the advisors who have helped are industry connections through our team and yes, we do plan on using them into the future.

      Thanks

      Answered on 15-11-2021 by Felix Watkins


      A couple of questions, are you concerned about the name Woolies, it is the name most people refer Woolworths supermarket to (in Australia anyway), have Woolworths got any rights over this name? My other question is wearability, how many times can you wear the jeans before needing to wash them, referring to how the merino absorbs moisture and how long does a pair take to dry after a wash?

      Posted on 09-11-2021 by Loretta Taylor

      Hi Loretta,

      The trademark for Woolworths is for supermarkets so we see it as quite different to the jeans and don't think there should be too much confusion - we just really like the name. I have been washing them basically similar to the timeframe of normal jeans and the drying has been good - just very similar to normal jeans overall.

      Thanks

      Answered on 15-11-2021 by Felix Watkins


      Hi Jovian - In terms of your forward projections, are your current team planning on drawing salaries, or hiring people. I imagine that this will very quickly become a full-time job for one or more people, and there doesn't appear to be much (if any) provision for that in the forecasts.

      Posted on 07-10-2021 by Adrian Edge

      Hi Adrian,

      We haven't factored in salaries because the the current team all have a shareholding in Woolies Limited and are able to work on a voluntarily basis.

      Thanks

      Answered on 08-10-2021 by Felix Watkins


      How many pairs have you made and sold to date?

      Posted on 05-10-2021 by Paul Naske

      Hi Paul, I haven't sold any pairs so far. Selling the jeans can influence the design patent - hence why I am trying to raise money so I can patent and then sell afterwards. Thanks.

      Answered on 06-10-2021 by Felix Watkins


      Doesn’t the Berkus Method have category maximums of 500k?

      Posted on 04-10-2021 by Adrian Edge

      Yes, but we have adjusted it for New Zealand currency and inflation for 2021.

      Answered on 04-10-2021 by Felix Watkins


      I am unsure of your valuation. Can you please provide more information of how you used the Berkus Method to calculate this?

      Posted on 04-10-2021 by Adrian Edge

      Hi Adrian,

      Thank you for your question. The valuation has been determined using the Berkus Method as follows:

      ✅ Sound idea ~ $2M

      ✅ Prototype ~ $1M

      ✅ Quality Management Team ~ $1M

      ✅ Strategic Relationships ~ $1M

      Cheers

      Answered on 04-10-2021 by Felix Watkins

      Stella Khoo Pheng Kian
      21/10/2021 at 10:52am
      Hayden Bonner
      21/10/2021 at 10:40am
      Peta Baxter
      21/10/2021 at 9:34am

      "Good Luck!"

      Geoff Simons
      21/10/2021 at 9:26am
      Judith
      21/10/2021 at 9:07am
      Andrew Searle
      20/10/2021 at 8:23pm
      Pat Turnock
      20/10/2021 at 8:15pm
      Mark & Sally-Ann Copland
      20/10/2021 at 9:54am

      "Sheep farmer looking forward to woollies Jean's. Pleased to get rid off plastic pants Southland farmer's Mark and Sally-Ann. "

      Xan Hamilton
      20/10/2021 at 9:16am
      Grant R Meikle
      19/10/2021 at 9:01pm
      [email protected]
      19/10/2021 at 3:22pm
      Sean Magin
      19/10/2021 at 1:28pm
      Brian Cartmell
      19/10/2021 at 1:11pm
      Jim Robinson
      19/10/2021 at 9:36am
      Hugh
      19/10/2021 at 6:07am
      Jan French
      18/10/2021 at 11:25pm
      Sean
      18/10/2021 at 8:54pm
      Jane stevens
      18/10/2021 at 5:51pm
      Andrew Grace
      18/10/2021 at 4:13pm

      "Good luck with the venture - excited to be a part of it in a small way!"

      Lynley Deaker- Breeze
      18/10/2021 at 4:08pm
      Heather McMillan
      18/10/2021 at 11:29am
      Pip Joyce
      18/10/2021 at 11:25am
      Alex La Roche
      18/10/2021 at 11:19am

      "Good luck. great idea. 🐑"

      Jo Tagg
      18/10/2021 at 10:19am

      "exciting idea, all the best"

      Philip Riley
      18/10/2021 at 8:52am
      Rachelle Crosbie
      17/10/2021 at 8:02pm

      "I love the concept of this, here's hoping it goes well for you guys."

      Nicholas Walshe
      17/10/2021 at 5:53pm
      Rory
      17/10/2021 at 5:50pm
      Stephen Plaskas
      14/10/2021 at 12:35pm
      Adrian Claydon
      14/10/2021 at 9:51am

      "Jeanius"

      This campaign was successful and got its funding on 04/12/2021 at 12:00 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 Woolies Jeans, you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      Sheep Friend

      NZ $250.00+

      Minimum investment of $250 for 250 shares! Each share is $1.00. 🐑

      Sheep Dater 👖

      NZ $2,500.00+

      Pledge $2,500 and get a pair of Men's or Women's Woolies Jeans from the first production line. Baa. 🐑

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      NZ $5,000.00+

      Pledge $5,000 and get two pairs of Men's or Women's Woolies Jeans from the first production line. Baaaa. 🐑🐑

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      NZ $7,500.00+

      Pledge $7,500 and get three pairs of Men's or Women's Woolies Jeans from the first production line. Baaaaaaa. 🐏🐏

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      NZ $10,000.00+

      Pledge $10,000+ and get four pairs of Men's or Women's Woolies Jeans from the first production line. BAAAAAAAAAAAA. 🐏🐑

      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.