Finery
- Type: Retail and Wholesale
- Total Round Size (min): NZ$160,000
- Total Round Size (max): NZ$720,000
- Price per share: NZD$1
Finery
Founders of the 0% Premium ready to drink grocery category for New Zealand” with a focus on creating healthier convenient beverages across multiple categories with health and wellbeing front of mind.
With an active mission to reshape Australasia’s drinking culture by making “Better For You” beverage options readily available for all occasions.
As this is a New Zealand offer, to invest in this deal from outside of NZ, you must be a Sophisticated, High Net Worth or Experienced Investor. To understand what that means in your jurisdiction please see the criteria here.
- Fees Paid by Issuer: 6% of funds raised
- Security: B Class Shares
- Minimum Parcel Size: $500
Offer Overview
Investor Rewards
For investments between: $3,000 - $9,999
- Finery Product Mixed 8 Selection.
- Finery T Shirt
- VFP Bag
- Exclusive VFP 5% Club online membership.
For investments between: $10,000 - $30,999
- Finery Product Mixed 16 Selection.
- VFP 10% Club online membership
- Exclusive early Access to new releases
- Finery VFP T Shirt, Bag & Cap
For investments above: $31,000
- VFP 10% lifetime online membership
- Special Edition Finery Glass Door 9L Bar Fridge
Company Overview
Finery is a premium low-and-no-alcohol cocktail brand based in Auckland, New Zealand. With a commitment to providing high-quality beverages, Finery’s mission is to reshape Australasia’s drinking culture by making “Better For You” beverage options readily available for all occasions.
Finery’s Core Range includes a unique selection of exceptionally curated liquid profiles, in both Low 5% ABV and 0% ABV varieties. Finery products are intentionally crafted to taste and look the same whether you choose Low or No alcohol. The quality of the product and design has seen the brand win a number of awards from bodies including the IWSC and the World Brand Design Society.
Driving the growth of Finery is Jane Allan, a passionate and driven founder who brings her background managing and delivering multi-million dollar projects to the startup world.
Since getting started in 2019, Finery has seen consistent, financially sustainable growth across New Zealand grocery and liquor retail. With a successful trial in the Australian market under its belt, Finery is primed for launch across the ditch in FY24 and FY25. By designing its products to comply with both New Zealand and Australian legislation, Finery has positioned itself for successful expansion in both countries.
The company is well positioned for further growth, thanks to a scalable platform built with growth front of mind and a committed executive team. Finery has a clear strategy in place, focused on expanding distribution across multiple channels and increasing unit sales turnover, and revolving around a structured marketing plan and a dedicated new product development (NPD) program.
Now, they are raising capital to execute on their growth strategy, and to capitalise on the significant tailwinds in the category.
Investment Highlights
- NZ Trailblazer in Growing Category Worldwide
An early mover in the New Zealand NoLo RTD category, Finery’s brand already has a foothold in the mind of the health conscious Kiwi consumers. As the NoLo category continues to grow, both in ANZ and worldwide, Finery is poised to leverage their early brand awareness to take market share.
- Distributing Across Major Grocery Chains
Finery has achieved distribution across major Kiwi grocery and liquor retail chains, including Liquorland, Dan Murphys, Foodstuffs and Countdown among many others. Supported by a growing online presence, Finery aims to solidify their retail and out of home foothold both in NZ and Australia, while growing and diversifying the revenue mix with the onboarding of strategic relationships to recognise growth opportunities.
- Well Positioned for Growth With Platform Designed to Scale
Finery’s network of contract distillers, manufacturers and canners will allow them to meet increases in production requirements head on without the need to purchase and operate physical production space.
- Expansion Into Australia Already Underway
In FY22, Finery made the first step towards growing the business internationally, undertaking a highly successful market trial in Australia. The encouraging initial testing results, as well as the relationships and partnerships fostered in the Australian market, will be invaluable as Finery looks to move across the ditch full time.
- Specifically formulated NZ and AU-compliant products
Finery’s products have been specifically designed with international expansion in mind, and are compliant with both New Zealand and Australian regulatory requirements. This will allow Finery to more easily push across the ditch into the Australian market.
- Internationally Recognised, Award-Winning Brand
As well as Finery’s Founder, Jane Allan, being a RiseUp Female Founder award Winner, the brand itself has won a number of awards and accolades including 9x National Excellence Medals, an International IWSC Silver award and a World Brand Design Society Silver award amongst many others.
Key Team Members
Jane has built Finery from the ground up and has lead the strategy, growth, NPD and operations of the brand since inception. Responsible for procurement, manufacturing, operations, sales execution, sales and marketing teams, logistics and export.
Jane has a 20+ year background in commercial project management with a strong focus on financial aspects of multi million dollar projects driven by on time on budget demand. Jane’s overarching role for Finery is to drive consumer awareness of the moderation movement bringing Finery front of mind to everyday consumers.
A highly accomplished social media expert and creative strategist with a career spanning over two decades in the health & wellness industry. With an innate understanding of consumer behavior and emerging trends, Charlie has successfully created engaging campaigns that resonate with target audiences.
Co-Founder of I Love Ltd which successfully exited via a trade sale and is currently an FMCG Consultant and Mentor. Maree is a highly accomplished commercial marketer with a proven track record spanning over 25 years in the FMCG industry.
Throughout her extensive corporate career, Maree held senior marketing positions for leading brands in grocery in New Zealand and Australia. Additionally, she gained valuable experience within the drinks category when she worked in innovations for Britvic, a prominent UK drinks manufacturer.
Dene joins us after an extensive career in FMCG across several markets where he has enjoyed working in multi national, private equity, SME and family owned businesses. Dene started his career in various sales roles for Heinz-Wattie’s New Zealand before a stint in London and then Melbourne where he lead the Coles and Woolworths sales teams.
8 years later, Dene moved back to NZ with his family where he was Head of Sales for Heinz - Wattie’s and is currently the GM at New Zealand Creameries who export ice cream around the globe.
Key Financials
For further detail see page 35 of the IM.
Use of Funds
For further details see page 34 of the IM.
Key Risks
The alcoholic RTD and nolo alcohol spaces are competitive. The Company is a first mover and operates a differentiated model, but could lose market share if more players in the market took the approach.
Mitigation
The Company will maintain their focus on the premium markets in which they have made their name. The Company’s customer base is likely to be sticky if the company maintains its quality and range.
The Company has a number of key team members integral to the running and growth of the business. If one or more of these individuals were to leave the business, failure to replace them adequately may harm company objectives.
Mitigation
The Company incentivises key individuals with equity and options in the business to ensure they are fully aligned with the success of the Company.
The Company has created a strong brand reputation in its several years of operation. With expansion comes the risk that core brand values are diluted and lost with scale, which may impact the underlying value of the business.
Mitigation
The Company’s intended approach to expansion involves reaching out to independent distributors to allow the Company to maintain its craft distillery feel and avoid losing quality or authenticity with scale.
The Company is raising capital to fund its growth plans. Should insufficient capital be raised, or if costs are higher than anticipated, the Company might need to raise additional capital or risk not meeting its business objectives.
Mitigation
The Company will intend to redistribute the allocation of funds raised to areas most needed for business improvement. The Company may also opt to carry out an additional funding round.