‘’Ron Dorff is the Apple of the sportswear world - plenty of brains, no shortage of beauty.’’ / Fashionbeans Magazine
‘’Ron Dorff is the Apple of the sportswear world - plenty of brains, no shortage of beauty.’’ / Fashionbeans Magazine
BECOME A SHAREHOLDER IN RON DORFF
Earlier this year, we oversubscribed our online financing from UK and European investors and raised $1.5mn. Now, we’re giving our loyal US community the exclusive opportunity to invest in and become a part of RON DORFF.
BRINGING EUROPEAN LUXURY TO HERITAGE AMERICAN SPORTSWEAR
RON DORFF is a premium menswear brand on a mission to upgrade iconic sportswear for men combining Swedish functionality with French style. With an average annual revenue growth online of 28% since 2018, we’re now aiming to grow RON DORFF in the highly lucrative US Menswear market worth $113.5bn (2024).
BRAND STRATEGY
We believe that Sportswear is often over-complicated with loud colours & big logos. At RON DORFF we strip it all down, keeping the essence of iconic sportswear essentials while upgrading them with luxurious, durable fabrics & contemporary cuts. We provide men with premium sportswear essentials tailored for an active, healthy, urban lifestyle and at a compelling quality-to-value price point, notably in the US (33% of global sales in 2024).
OUR CUSTOMERS
Key targets are the H.E.N.R.Y.s (High Earners Not Rich Yet): 30-45, frequent online shoppers, working-out, style conscious, non-price-sensitive with +$100K income.
BUSINESS HIGHLIGHTS
+230.000 online clients across +50 countries with an AOV of +$200.
84% of revenue is from DTC (80% margin). Online is scaling at 51%. 16% are from B2B with +80 premium resellers worldwide.
6 flagship stores in Paris, London, New York, Los Angeles & Berlin supporting the online sales in our 4 key markets: the US, the UK, France and Germany.
Consistent quality, luxurious, durable fabrics and permanent essentials have created strong customer loyalty with +60% repurchase rate. Product return rate is extremely low at 11.9%.
Collaborations include Neil Patrick Harris, Gus Kenworthy and RON DORFF is worn by sportsmen and artists such as Tom Daley, Orlando Bloom and Matt Bomer. 3 major collaborations with premium / luxury brands and celebrities are scheduled for 2025.
CURRENT INVESTORS
Key funding comes from PUMA P/E (London) with over €8m invested since 2020, supported by angel investors with long-term experience in premium menswear such as Vilebrequin and Tiger of Sweden.
USE OF FUNDS
Funds will be used to sustain global online growth, in particular in the US, building brand awareness on & offline.
WHAT THE PRESS SAYS
“RON DORFF is the urban-chic sportswear brand that is a must in any man’s closet.”
“One of the best underwear for men.”
“The best underwear for men worth knowing about.”
“One of the three swimwear brands for men in the world.”
“RON DORFF prioritizes comfort and durability, offering essentials you will hang to.”
“The ultimate swimwear for men.”
DIVE INTO THE WORLD OF RON DORFF
FREQUENTLY ASKED QUESTIONS
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The Company’s current share capital is currently split into the following classes of share:
Ordinary Shares with a nominal value of £0.0015625
A Ordinary Shares with a nominal value of £0.0015625
B Ordinary Shares with a nominal value of £0.10
C Shares with a nominal value of £0.0015625
D Ordinary Shares with a nominal value of £0.10
E Ordinary Shares with a nominal value of £0.10
F Preference Shares with a nominal value of £0.0015625
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As at 13 October 2024, the Company has issued the following number of shares:
Ordinary Shares – 236,160 issued (43.60% voting rights)
A Ordinary Shares – 261,760 issued (48.33% voting rights)
B Ordinary Shares – 4,023,289 issued
C Shares – 57, 600 issued
D Ordinary Shares – 1,998,999 issued
E Ordinary Shares – 2,748,622 issued
F Preference Shares – 43,673 issued (8.06% voting rights)
TOTAL – 9,370,103 issued
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Investors will be subscribing for F Preference Shares
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Yes, the F Preference Shares have equal voting rights to other voting shares. There are no ‘golden shares’ or equivalent in the structure that have enhanced voting rights. See Section 2 of the Subscription Agreement for details of the key rights and conditions attaching to F Preference Shares, including voting rights.
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Yes, the incoming shareholders as part of this equity raise will be investing into a share class that will take a priority on distributions on an exit until sums invested have been repaid: equity distributions on exit only need to total c€2.2m plus the sums raised in this round for the incoming investors to get their money back.
See Section 2 of the Subscription Agreement for details of the key rights attaching to F Preference Shares on any exit.
In respect of any exit (e.g. a sale, disposal or listing), an amount equal to the “F Share Amount” is first used to pay shareholders as follows:
· in respect of all shareholders other than F Preference Shareholders, an amount equal to £0.00001 per share held (being in aggregate £93.2643 based on the current issued share capital as at 13 October 2024); and
· the balance of the F Share Amount to the holders of F Preference Shares pro rata to the number of F Preference Shares held.
The “F Share Amount” means an amount equal to the greater of (i) the amount paid up on each F Preference Share and (ii) the aggregate amount which each F Preference Share would be entitled if the F Preference Shares ranked alongside the Ordinary Shares and A Ordinary Shares on an exit as if the Ordinary Shares, A Ordinary Shares and F Preference Shares ranked pari passu and were deemed to be a single class of share.
As of 13 October 2024, the amount paid up on the F Preference Shares was €2,183,650.
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The pre-money valuation for the current equity raise is €27.2m. That pre-money valuation equates to approximately 3x 2023.
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The Company has the following subsidiaries (in each case wholly owned):
· STOCKHOLM SPORTS SAS, a French company, company number 507 870 921
· RON DORFF UK Ltd, a UK company, company number 09891354
· RON DORFF DE Gmbh, a German company, company number 30/496/50258
· RON DORFF Inc., a US company, company number EIN 84-2220151
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Persons of significant control that hold equal to or greater than 25% of the number of issued shares of the Company are limited to funds managed (or the nominee of funds managed) by our major institutional investor, Puma Growth Partners.
Puma VCT 13 plc - 2,906,836 (31.02%)
Pershing Nominees Limited - 3,960,323 (42.27%)
Persons of significant control that hold equal to or greater than currently controlling 15% or more of the voting rights of the Company are included below:
Puma VCT 13 plc - 108,703 voting shares (20.07%)
Pershing Nominees Limited - 109,824 (20.28%)