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HILL & FRIENDS

Hill & Friends designs and supplies high quality ladies bags. They are led by the designer Emma Hill CBE and her business partner, Georgia Fendley. Emma & Georgia were the Creative and Brand Directors that drove the success of Mulberry where revenues increased from £51m in 2008 to £169m in 2012. Early trading and brand traction has been established with a successful launch of 2016 collections. Awarded WGSN “Best Start-Up” in May 2016, No.1 in the Fashion Charts in Grazia Magazine in November 2015, ‘Top Fashion Moment for SS16’ from the British Fashion Council. Wholesale sales have been made to significant retailers including Harrods, Selfridges, Barneys, Fortnum & Masons’ and John Lewis.

THE IDEA
Products & Services

Hill & Friends is focussed on attainable luxury with an opening price point of £95 and the bestselling bags starting at £350. This places the brand above the high street and contemporary fashion brands and below the crowded market for premium luxury. The focus is on a continuity collection of bag silhouettes at £350-£695.
This is a price positioning vacated by other luxury brands. Management believe consumers are frustrated by the price hike in luxury and the poor quality on the high street. Hill & Friends has been created with the aim to fill this gap while stimulating desire and interest with a confident, playful brand attitude aimed at ensuring brand awareness and reach.

Problem Solved

Specialists in uncompromising craft and quality at accessible entry price points, Hill & Friends is looking to fill a gap in the handbag and accessories market. Management has embarked on a sales strategy which focusses on wholesale partnerships with the industry’s leading luxury retailers, and selling through the Company’s own flagship online store. Recent years have seen a shift in the accessories market, aspirational luxury brands have increased pricing seeking to compete with true luxury brands. The top of the market is perceived as crowded and competitive. As a result, Hill & Friends targets the perceived gap in the market for high quality handbags at attainable prices.

Revenue Model

Management envisage a steady increase in sales across the three revenue channels.
Wholesale sales currently account for 79% of all revenues. The percentage of wholesale to total product sales is expected to rise as wholesale revenues grow at a faster pace than other channels. Management have forecast that potential wholesale revenues will settle at c.88% from year 3.
Domestic wholesale revenues are predicted to grow through increased volume orders from existing retailers and new orders from new customers. The Company is confident that it is selling into the right retailers in the UK market.
The international sales expansion will also provide an increased brand presence.

Exit Strategy

Management is focussed on developing the business in line with its business plan and having sufficient growth funding to fulfil orders. The team expect to reach break-even profitability by the end of 2018.
The Founders are highly regarded in the industry and the brand has already gained traction with significant, high end retailers. The Company, brand and product offering is developing and exit is likely to be considered in the medium term once further brand traction has been achieved. The plan is to build the business for possible exit in 4–5 years.
The team believe that the Company and brand will be an attractive prospective acquisition to other international luxury accessory businesses

Minimum Target £ 1,263,433 Maximum Target £ 1,666,712 Minimum investment amount £ 10,236 Maximum investment amount £ 1,666,712
Share On Website Visit site Location LONDON
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The Idea

Products & Services

Hill & Friends is focussed on attainable luxury with an opening price point of £95 and the bestselling bags starting at £350. This places the brand above the high street and contemporary fashion brands and below the crowded market for premium luxury. The focus is on a continuity collection of bag silhouettes at £350-£695.
This is a price positioning vacated by other luxury brands. Management believe consumers are frustrated by the price hike in luxury and the poor quality on the high street. Hill & Friends has been created with the aim to fill this gap while stimulating desire and interest with a confident, playful brand attitude aimed at ensuring brand awareness and reach.

Problem Solved

Specialists in uncompromising craft and quality at accessible entry price points, Hill & Friends is looking to fill a gap in the handbag and accessories market. Management has embarked on a sales strategy which focusses on wholesale partnerships with the industry’s leading luxury retailers, and selling through the Company’s own flagship online store. Recent years have seen a shift in the accessories market, aspirational luxury brands have increased pricing seeking to compete with true luxury brands. The top of the market is perceived as crowded and competitive. As a result, Hill & Friends targets the perceived gap in the market for high quality handbags at attainable prices.

Revenue Model

Management envisage a steady increase in sales across the three revenue channels.
Wholesale sales currently account for 79% of all revenues. The percentage of wholesale to total product sales is expected to rise as wholesale revenues grow at a faster pace than other channels. Management have forecast that potential wholesale revenues will settle at c.88% from year 3.
Domestic wholesale revenues are predicted to grow through increased volume orders from existing retailers and new orders from new customers. The Company is confident that it is selling into the right retailers in the UK market.
The international sales expansion will also provide an increased brand presence.

Exit Strategy

Management is focussed on developing the business in line with its business plan and having sufficient growth funding to fulfil orders. The team expect to reach break-even profitability by the end of 2018.
The Founders are highly regarded in the industry and the brand has already gained traction with significant, high end retailers. The Company, brand and product offering is developing and exit is likely to be considered in the medium term once further brand traction has been achieved. The plan is to build the business for possible exit in 4–5 years.
The team believe that the Company and brand will be an attractive prospective acquisition to other international luxury accessory businesses

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