MORI (babymori.com) is an innovative online baby essentials brand for parents and gifters
Launched in Nov-15, MORI (babymori.com) is an innovative online baby essentials brand that is changing the way essentials are purchased and gifted. MORI sells its own-brand quality textile essentials on babymori.com and has strong product development expertise. (1) Strong organic growth: 53% m-o-m for the last five months without any material advertising budget. Revenue run rate is £330k (2) Proven product/market fit: 29% of customers are repeat purchasers (in avg. 4.2x purchases to date = £216) and reviews of 4.9/5.0 (3) Impressive unit economics; 72% gross margin, £40 exp. CAC, £49 AOV, £360 LTV for repeat customers
PRODUCTS & SERVICES
MORI created ‘the world’s softest baby essentials’. MORI’s innovative two-layered fabrics are made from bamboo and organic cotton. Sales from the first 3 days of our new collection were as much as the month of December.
MORI also provides letterbox delivery of beautifully curated and practical gift parcels. c.60% of MORI’s customers are gifters, proving that MORI can expand the market for essentials category.
Our brand has resonated very well with the press, parents and gifters. Customer reviews scored MORI 4.0 out of 5.0. Press coverage includes Evening Standard, FT, Guardian, Telegraph, BuzzFeed, Vogue, BabyLondon and Hello!.
We also provide subscription service to 10% of customers
Problem 1: Apparel essentials, which babies spend the majority of their time in, are a second-thought: are commoditised, lack innovation and are flimsy in quality. Majority of the baby wear companies are fashion-driven, costing c. 20% (as % of sales) which MORI replaces with quality.
Problem 2: These items are not often gifted because they are not fun or easy to gift (e.g. sizing, variety, seasonality) and this creates a mismatch between what is gifted vs. needed. 65% of parents are given items they would ‘never dress their baby in’ and 56% of parents admit throwing unworn baby clothes in the bin.
Strong organic growth
– 53% m-o-m sales growth for the last five months without any material advertising budget
– Mar-16 revenues of £27k, to date revenues of £85k, run-rate revenues of £330k
– 25k+ earned email addresses, growing consistently by 25% m-o-m
Proven product/market fit:
– 29% of customers are repeat purchasers (in avg. 4.2x purchases to date = £216)
– 0% returns, <1% swaps
– Reviews of 4.9/5.0 with 93% of reviewers gave a 5 star, with another 5% in a 4 star
Impressive unit economics:
(1) 72% gross margins compared to 55% industry average for apparel brands
(2) Current CAC of £25 and estimated year 1 CAC of £40
(3) AOV of £49, exp. repeat customer LTV of £360
As we redefine the category and grow a passionate online customer base, a strategic buy-out is possible from the likes of The Honest Company (US), Petit Bateau and The White Company.