New Investment Opportunity: Kicksnation
Your personal sneaker shopper
- Personalized, AI-powered shopping platform addressing $40B annual US sneaker market
- Supplies 34 brands on demand; strategic partnerships with 26 brands including On, Birkenstock, Veja, CLAE, Cariuma
- Average order cadence for returning customers is once every 4 months
- 60% of orders shipped result in a sale; $161 total average revenue per order
- Existing investors include e-commerce angels Tamim Mourad, Omar Mourad, Cory Rosenberg (Pricegrabber.com, eSalon.com), Vy Nguyen (Avocado Green Mattress)
- Up to $3M Seed round led by OurCrowd; Designer Brands investing $1M, owners of DSW Designer Shoe Warehouse with over 500 US branches
OurCrowd investors get to try Kicksnation for free!
Use coupon OC2022 to receive your first box of sneakers with no styling fee charge.
Offer lasts until May 31st, 2022.
Dear Josb,
The Problem
Sneaker buyers have an abundance of choices, with a huge number of brands and seemingly endless styles to choose from. Shopping in brick-and-mortar stores feels archaic, but spending a lot of time browsing through pages of options online can be tiresome.
OurCrowd is investing in Kicksnation, the first and only personalized online footwear retail subscription platform. The details in this email are based on information received from, and verified solely by, the company.
The Solution
Kicksnation's e-commerce automation tools harness the power of behavioral economics and data-driven machine automation to analyze the data collected to optimize sell-through conversion.
A quick quiz tells Kicksnation what the customer wants in their sneakerbox™. The customer pays a $15 styling fee, and the company puts together a curated selection of three unique pairs of sneakers to try before the customer buys. The customer has five days to try on the shoes and make their selection, only paying for the ones they keep. Shipping and returns are free.
Initial Traction
Kicksnation currently supplies 34 brands on demand. The company has strategic partnerships with 26 brands including On, Birkenstock, Veja, CLAE, and Cariuma.
The company's initial marketing efforts show a promising conversion rate. Out of 10,000 customers who took the quiz, 9,000 opened an account, and 6% converted all the way to the checkout to get a box delivered to their home. On average, customers keep more than one pair per box, with some opting for a quarterly box subscription.
The Round
This up to $3M Seed round is led by OurCrowd, with Designer Brands, owners of DSW Designer Shoe Warehouse with over 500 branches, investing $1M.
Existing investors include e-commerce angels Tamim Mourad, Omar Mourad, Cory Rosenberg (Pricegrabber.com, eSalon.com), and Vy Nguyen (Avocado Green Mattress).
Special fireside chat with President of DSW and Kicksnation CEO Tamir Buchler
Join us for a special OurCrowd fireside chat with Bill Jordan. President of Designer Brands (DSW), and Tamir Buchler, Co-founder and CEO of Kicksnation, who will be discussing the future of the $40B US sneakers market on Tuesday, February 22nd, at 7PM Israel / 12PM New York / 9AM San Francisco.
Can't make the webinar? Register and we will send you a recording of the call.
The Kicksnation Solution
Kicksnation is a direct-to-consumer sneaker e-commerce company. It sources shoes from sneaker suppliers and sells them directly to consumers via its own direct channel.
Kicksnation is building a valuable dataset on its customers. The only metric competitors have to go by is purchase history. Kicksnation knows far more about its customers and the customer's preference before they even buy anything.
Kicksnation is building automation tools that leverage artificial intelligence (AI) to analyze the data they collect to optimize sell-through conversion. The company is also developing feature-rich consumer-facing functionality to collect even more data points to inform its process.
Next steps:
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