Crowdfunding Australia


  • Type: Retail
  • Total Round Size (min): AUD$1,500,000
  • Total Round Size (max): AUD$4,000,000
  • Price per share: AUD$2

Made for Water - Disruptive By Design.

Offer Live


  • Fees Paid by Issuer
    : 6%
  • Cooling Off Rights
    : 5 working days
  • Security Type
    : Fully-Paid Ordinary Shares
  • Minimum Parcel Size
    : $500

Offer Overview

Key Documents

In addition to your fully-paid Ordinary Shares, Zhik is offering exclusive investor rewards. See below and section 3.3 of the Offer Document for further details.

Investor Rewards

Tier 1

For investments between: $1,000 - $2,500

  • 15% Voucher for next purchase
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
Tier 2

For investments between: $2,501 - $5,000

  • 20% Voucher for next purchase
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
  • Zhik battle flag
Tier 3

For investments between: $5,001 - $10,000

  • 20% Lifetime Zhik discount
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
  • Zhik battle flag
  • Shareholder edition 30L backpack
Tier 4

For investments between: $10,001 - $25,000

  • 30% Lifetime Zhik discount
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
  • Zhik battle flag
  • Shareholder edition 30L backpack
  • Shareholder edition 100L wheelie bag
Tier 5

For investments between: $25,001 - $50,000

  • 35% Lifetime Zhik discount
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
  • Zhik battle flag
  • Shareholder edition 30L backpack
  • Shareholder edition 100L wheelie bag
Tier 6

For investments between: $50,001 - $200,000

  • 40% Lifetime Zhik discount
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
  • Zhik battle flag
  • Shareholder edition 30L backpack
  • Shareholder edition 100L wheelie bag
Tier 7

For investments above: $200,001

  • 50% Lifetime Zhik discount
  • Shareholder edition cap
  • Zhik backstay & sticker
  • Shareholder edition 6L race dry bag
  • Zhik battle flag
  • Shareholder edition 30L backpack
  • Shareholder edition 100L wheelie bag

Company Overview

Born from innovation, Zhik exists to provide breakthrough solutions that make life on the water warm, dry, fast and safe. Disruptive by design, Zhik is one of the world’s most innovative and trend-setting sailing apparel manufacturers. This market positioning is derived from a collaborative approach with champion athletes, and an unflinching focus on product development and improvement.

Zhik aims to create exceptional performance products in a more sustainable way, and to produce a range that caters to the entire water sports market. 

Zhik’s collaborations with Olympic medallists, America's Cup winners, Sail GP teams and around-the-world ocean race winners enable them to continually reach new audiences. Zhik has seen a huge success during the Financial Year 2022 where revenue grew by more than 40%.

With an established network of trade partners and distributors stretching across more than 45 countries, Zhik’s warehouses in Australia, Netherlands, the United Kingdom and America comprise a strong base for their global operations.

Their continued investment in technical and lifestyle products, whilst expanding their range to cater to the broader sailing, boating and water sport markets, opens new opportunities for growth. 

Zhik have come a long way since their inception in 2003 and have built a strong global distribution network, loyal customer base and brand recognition in the elite performance sailing markets. They are now ideally positioned to leverage this platform to accelerate their growth.

Investment Highlights

  1. Established, Profitable Model With an extensive Global Footprint

    Generating just shy of $16m in revenue in the financial year 2022 with their normalised net profit doubling between 2021 and 2022 financials years. Zhik is on track to achieve their growth revenue target of $18m for the 2023 financial year ending in June, despite heavy investment into growth.

    Zhik have demonstrated both product-market fit and an efficient business model developed over 20 years. This strong base will allow them to focus each marginal dollar raised into growing the company. Zhik’s range of products are sold into an international network, covering more than 45 countries in Europe, the Americas and the Asia Pacific, providing an ideal platform from which to lean into the momentum in the broader market.

  2. Investing Alongside Reputable Institutional Partners

    By investing in this round, you will be investing alongside Nightingale Partners, who sit on the Zhik board. Nightingale Partners was founded in 1985 and is a private equity firm based in Sydney. Nightingale Partners have backed Zhik since 2013 and are anchoring this capital raise with a significant re-investment to continue to support Zhik’s grow.

  3. Innovative, Premium Brand Positioning

    Disruptive by design, a core tenet of Zhik’s brand is their consistent focus on R&D at the Zhik Design Lab, their Sydney-based Innovation Centre. Their reputation for cutting-edge products helps them access customers younger, increasing the duration of the relationship and improving Lifetime Value (LTV). Additionally, this allows Zhik to position their range at a high price point relative to their competitors without compromising demand. Their continuously product-led, innovation-first culture has resulted in Zhik winning multiple Dame Design Awards in different segments of the market.

  4. Significant Market Opportunity

    At USD $15b, and forecast to grow at a 7.3% CAGR out to 2026, there is an attractive opportunity for Zhik to leverage their existing global footprint to scale into key consumer markets. Apparel is anticipated to be the largest growing sector in the surface water sports market. Zhik has successfully transitioned into new segments shifting from the dinghy to yachting market in 2017 which has provided the platform for their growth.  

  5. High Profile Ambassador Partnerships

    Zhik’s CEO, Mat Belcher OAM, joined the business after his retirement from a successful sailing career, winning medals at multiple Olympics wearing the Zhik range. As Australia’s most successful Olympic sailor he is one of over 100 elite athletes with whom Zhik have partnered with, representing 23 nations and having amassed more than 50 Olympic medals and 100 World Championships. This has included the Australian, Danish and Singapore national sailing teams along with the New Zealand and Canada SailGP racing teams. The Zhik stable of athletes includes world-renowned sailors, kite surfers, windsurfers, stand-up paddlers and ocean racers who lend credibility to the quality of the range while providing input into new product development and innovation.

  6. Pioneering a Sustainable Approach to Water Sports Apparel

    In 2017, Zhik were one of the first in the industry to replace all single use plastics in their packaging. Since then, they have remained at the cutting edge of sustainable innovation, having invested significantly into R&D in the creation of their pioneering, 100% neoprene-free ECO wetsuit, as well their 100% perfluorocarbon-free, XWR water repellent fabric to reduce the weight of their products whilst keeping their athletes dry. Zhik’s choice of fabrics such as Polartec and Repreve, fibres from recycled plastics and recycled polyster materials, have positioned Zhik apart from their competiors. Zhik’s network of repair centres along with recently launched a pilot program reZHIKle, an initiative to enable their customers to recycle their wetsuits free of charge are examples of Zhik’s commitment to make products that are better for the environment.

Strategic Vision and Growth

Zhik’s vision is to be “The Choice of Champions”, with a clear focus on being “Made for Water”. The “Made for Water” stamp symbolises what Zhik does: innovative design for use in, near, and around water. 

Zhik’s heritage is built on being a leading technical sailing brand, in both dinghy and yachting gear, for elite and professional athletes.

Respected as the most innovative brand in the industry and consistently raising the industry standards in design and quality, Zhik boldly pushes the limits of design possibilities. Zhik now looks to leverage its achievements by expanding into related water sports and target new market segments. 

Zhik’s ambitious growth strategy over the next five years is focused into three key pillars of growth with immediate actions aiming to broaden its product range allowing the brand to reach broader markets and capture more of the cruising market, enthusiast sailors, and weekend water sporters, along with investment in their digital capabilities and exploring new partnerships.

After consolidating Zhik in the yachting segment in 2018, the Company directed its efforts towards improving its internal systems and processes to prepare for exponential growth and global scalability. In 2019, Zhik incorporated its New Zealand distributorship back into its corporate structure. Zhik has made efforts to strengthen its distribution network in the European market over the past several years by adding new distribution channels each year and is continuing to do so. By obtaining direct control in key selected markets, Zhik has increased sales and sales’ margins.

With a long-term commitment to greater diversification into all “Made for Water” markets, raising the brands awareness in generalist water markets is a key priority.

For further detail on Zhik's growth strategy see section 2.10 of the Offer Document.


For further detail on other Directors and Senior Managers see section 2.11 of the Offer Document.

Team Member

Alex Zaininger


Alex was appointed to the Zhik board in November 2013 following his investment in the business. Alex has spent the previous 21 years as a professional company director and prior to this, he worked with the Boston Consulting Group in the Munich and Kuala Lumpur offices focussing primarily on strategy for leading technology companies. Alex has also had several years’ operational experience in a wide variety of industries. Alex earned an MBA from INSEAD as well as bachelors degrees in Economics and International Affairs from the University of Colorado - Boulder. He is a Fellow of the Australian Institute of Company Directors and has sat on more than a dozen boards. He resides in Sydney and is a passionate life-long yachtsman and races regularly.

Team Member

Mathew Belcher OAM

Managing Director- Chief Executive Officer

Mathew was one of Zhik’s first team athletes, helping to test their early product ranges. He has stayed with Zhik ever since to become the company’s longest supported athlete. After 17 years as a Zhik team athlete, Mathew joined the Board in October 2021 and later appointed CEO in October 2022. Mathew was the Australian flag bearer at the Tokyo2020 Olympic Games and represented Australia at the London 2012, Rio 2016 and Tokyo 2020 Olympics, winning two Olympic Golds and a Silver, making him the most successful Australian Olympic Sailor to date. Mathew has a diverse business background having grown up in a family business specialising in holiday resorts on the Gold Coast. Mathew is also a partner and investor in several residential property developments in Southeast Queensland. Mathew completed a Masters in Project Management as well as a Masters in Urban and Sustainable Development and holds a Bachelor of Commerce. 

Team Member

Patrick Ward

Chief Financial Officer

Pat joined Zhik in 2020 and has primary responsibility for finance and commercial operations. Pat is a Chartered Accountant, formerly with KPMG where he worked closely with private equity clients across a range of transactions in the retail industry. He brings a combination of numerical expertise, with a deep understanding of the systems and frameworks required to support scalable growth. In his relatively short time at Zhik, Pat has acquired extensive experience managing the customer service function which ensures the customer is central to business decision making. A keen sailor, having competed in multiple Sydney Hobart yacht races, Pat works closely with the design team on the testing of new yachting products and is passionate about increasing participation in sailing, in particular supporting people with disabilities.

Team Member

Daniel Watterson

Chief Operating Officer

Daniel joined Zhik in 2008, creating and implementing a stable operational framework that allows Zhik to improve manufacturing operations and profitability. With broad experience within various areas of the organisation, Daniel installs numerous frameworks designed to promote inter-department collaboration, promoting a high performing culture that consistently produces results. An Australian Skiff Sailing Champion and avid sailor his entire life, Daniel’s extensive first-hand use of products and intimate knowledge of the evolving marine industry promote a drive to redefine the boundaries of Zhik’s products and services.

Financial Information

For complete historical financials see section 2.13 of the Offer Document.

Use of Funds

For further detail see section 3.2 of the Offer Document.

Why Equity Crowdfunding?

Zhik is embarking on a new adventure and giving their growing community an open invite to climb aboard as they scale the brand to cater to the broader sailing, boating and water sport markets.

Zhik have elected to raise capital via equity crowdfunding, in order to build their company alongside the very people who are passionate about the brand, inviting their customers to become part of the team and share in their future success.

Key Risks

Business Risk

Zhik believes that its future success will depend on how well the public respond to Zhik products. Future success and expansion will also depend on new factors associated with company growth. There can be no assurance that the Company will be able to successfully enhance and expand the Zhik business.


Zhik’s revenue is derived from sales income over which the Company has little control. Although the Company is pursuing strategies to ensure a roll out of its products; any forecasts would contain a wide range of possibilities and outcomes for the Company.

Managing Growth

The Company aims to improve its operational and financial systems, procedures and controls and expand, train, retain and manage its employee base. No assurance can be given of its ability to manage future growth.

Competition Risk

The Company competes with other performance sailing apparel manufacturers. Some of these businesses are promoting similar product and are therefore directly competitive. Other established businesses that are currently strong in unrelated areas could also enter the market in the future. Some of these companies have, or may have, substantially greater resources than the Company to devote to new product development. The Company believes that it will compete based primarily on the quality and performance of its product, marketing support and after sales rather than engage in price led competition. While the Company will make a concerted effort in its own marketing activities, there can be no assurance that the Company will continue to be competitive.

Key Personnel and Management

Zhik acknowledges the importance of its key personnel to the continued success of its business and endeavours to create a work environment and offer conditions which encourage employees to pursue long term careers with the Company. Zhik’s success is closely linked to the ability of the company to recruit and retain high quality management personnel.

Intellectual Property

To leverage innovation, the Company will need to protect its intellectual property. There may be circumstances where the Company’s intellectual property cannot be protected or is subject to unauthorised disclosure, infringement or challenge by a third party. The Company may incur significant costs in asserting its rights in such circumstances

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