Fuchsia Shoes

Fuchsia Shoes

Early Stage

Luxury shoes empowering artisans worldwide... One step at a time

Luxury shoes empowering artisans worldwide... One step at a time

Overview

Raised this Round: Raised: $58,599

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/01/2020

Close Date

04/29/2020

Min. Goal
$50,000
Max. Goal
$500,000
Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$4,000,000

Discount

25%

Year Founded

2016

Industry

Apparel & Fashion

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Bothell, Washington

Business Type

Life Style

Fuchsia Shoes, with a valuation cap of $4 million, is raising funds on WeFunder. The company makes handcrafted ballet flats that combine luxury shoes and the empowerment of artisans worldwide. The traditional designs are modified to meet the needs of American customers by adding rubber soles and soft padding. Fuchsia Shoes was founded by Afshan Abbas and Rameez Sajwani in 2016 and has raised over $60,000 in previous rounds of financing. The current crowdfunding round has a minimum goal of $100,000 and a maximum goal of $500,000, and the funds will be used towards growth, marketing, inventory, and hiring new staff members. Fuchsia Shoes has already sold over 10,000 pairs of shoes, with a 25% repeat purchase rate within 30 days.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$129,750

$119,093

COGS

$68,098

$72,178

Tax

$0

$1,211

 

 

Net Income

$-56,946

$-68,839

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$15,021

$15,985

Accounts Receivable

$0

$0

Total Assets

$26,521

$27,485

Short-Term Debt

$106,398

$82,402

Long-Term Debt

$0

$0

Total Liabilities

$106,398

$82,402

Financials as of: 03/01/2020
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Fuchsia Shoes on Wefunder
Platform: Wefunder
Security Type: SAFE
Valuation: $4,000,000

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