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Focusing on the “indestructible” pantyhose, shertex valuation exceeds $ 100 million

With “unbreakable” pantyhose, Canadian startups

Shertex

(Previously, Sheerly Genius) attracted a group of supporters and was nominated by Time magazine in 2018 as 50 Best Inventions (Global 50 Inventions).

In 2017, Katherine Homes established Shertex, and in April 2018, it passed the Kickstarter website to raise $ 200,000 to start funds. In fact, in March 2018, the company received a $ 120,000 seed round financing from four investors including Creative Destruction Lab.

The main torn pantyhose

With the spread of “indestructible”, more consumers want to break this statement, and Katherine Homuth’s goal is to continuously prove the firmness of Shertex pantyhose. In fact, the company comes with a set of testing tools in each order.

“In this way, customers can experience the toughness of (material) crazy. Before we really put it on, test its limit,” Katherine Homut said. “People must not be broken. Bulletproof vests and climbing equipment are the same. This fiber has never been used to produce clothing in the past. “

Earlier, in the test by the US science and technology website Gizmodo.com employees, she couldn’t tear the shertex’s pantyhose regardless of how hard it was, and even put the potatoes into pantyhose and then stabbed it with a knife. It was still not damaged. Although the scissors can cut the shertex’s pantyhose, the open mouth is much smaller than other pantyhose.

Founding three years of rapid development

Shertex has grown rapidly in just three years. At the end of 2018, the company had 5 employees. The number of employees at the end of January 2019 was 25, and now it has grown to about 200 people. “I never thought we would have 200 employees in 11 months, and it was expected to be 50 people. I hope the number of employees can be able to by the end of the year. Grow to 600 people, we still have more room for expansion. “

In terms of product categories, shertex expands products such as masks, socks, bicycle shorts, etc. The preparations are leggings and shoes, and the products also enter the North American and European markets for sale.

In the fall of 2019, in order to increase production capacity and expand the size of the company, shertex moved from a facilities of 2,000 square feet (about 186 square meters) to 115,000 square feet (about 10,700 square meters) of Montreal headquarters. Coincidentally, the original site of this factory is also a pantyhose production factory, which has produced products for brands such as Secret and Silks.

The origin of Shertex is related to Katherine Homuth’s technology background. Before the establishment of Shertex, she founded two companies and sold it: the pre -order platform ShopLocket, female investor online education project FEMALE Funders. However, after working for several years in the technology industry, she began to discover that many people and companies were created to create technology, not used to solve real problems.

At the same time, she also found a blank market: tear -resistant stockings. “We have unmanned cars or traveling in space. Why don’t we have a pair of pantyhose that can be worn more than twice? I can’t think of why there is such a seemingly simple but not resolved.”

Shertex has spent more than two years to study solutions and improve production, making pantyhose light enough and stronger than ordinary products. It was not until February 2019 that the brand sent the first pantyhose to customers.

“Our pantyhose uses one of the most firm polymers in the world. It is also the basic material of Kevlar (Kaiflar fiber, usually used to strengthen rubber products such as tires). The breeding material is optimized to be used to make clothes and stockings. (This material) fiber is quite thick. In the early stage, (this fiber) broke a lot of weaving machines, and then found a kind of fiber thinner. Method to make it suitable for our products “, Katherine Homuth recalled.

Internet direct sales model and sustainable concept

The Internet direct sales model allows Shertex to effectively use customer feedback on social media, and accurate data analysis can also be used to track every step from the production process from order to logistics distribution. Based on the fast turnover time of customers input, the company’s invalid inventory also effectively reduces the company’s invalid inventory. “One of our superpowers is that the team can iterate at a fast speed.”

This spring, Shertex launched the first non -stockings product -a knitted shoes using the same patented technology. It is reported that the brand of the brand has always followed up the birth of this product through social media, and also provided feedback when the team went to Italy to finalize the final design.

“Sustainable” has also become the focus of Shertex’s attention. “We live in an environment with increasingly important environmental consumption awareness. As the creator of the world’s most solid pantyhose, we have a goal to create a long -term use fashion fashion , Not the pantyhose that is commonly used after use, Katherine Homuth.

主打“坚不可摧”裤袜,Sheertex 估值破1亿美元

At present, shertex has used recycling materials (such as pantyhose that cannot be worn again) to make other products. “Our Jumbo Scrumies hair circle is the first and only product of this, but we will integrate this concept into more in the future to change more Many products. “

In addition, shertex’s product packaging is also in line with sustainable concepts. Its packaging bags are made of composting materials, and the hard cardboard used can also be recovered 100%. Many brands of customers have exposed their unpacking experience on social media and used the outer bag to pile up.

Now and the future

主打“坚不可摧”裤袜,Sheertex 估值破1亿美元

During the new crown epidemic, consumers work in long -range, and the demand for comfortable clothing has increased, and sheetex’s performance has not been impacted. In September this year, sales increased by 300%year -on -year. The retail price of the brand of pantyhose is 35-120 US dollars per bar, which can calculate its monthly sales at seven digits, and the company’s valuation has exceeded 100 million US dollars.

Such a growth rate has attracted the attention of more investors. “As long as we increase production capacity in (larger factories), we can grow rapidly. Recently, we have completed a round B round of $ 44 million in financing,” Katherine Homuth said. Participants of Shertex B financing include: VC2VP, Fast Fashion Giant H & M Group Investment Fund H & M CO: LAB, BDC WOMEN in Tech Fund, ArctorN Ventures.

In September 2019, Shertex received a $ 14 million Series A financing participated by the venture capital company Arctern Ventures, and earned $ 200,000 crowdfunding financing in April 2018. A total of 58.3 million US dollars of financing is currently obtained.

Katherine Homuth pointed out that the current growth driving force of the brand comes from multiple comprehensive reasons. Offline stores have suspended business, low temperatures need pantyhose, and thin nude pantyhose in summer.

Katherine Homuth said that she hopes that shertex will expand retail and wholesale channels in the future and expand to other product categories. “I hope no one will buy pantyhose that is easy to break. Our innovation really has the potential to subvert the entire industry. In addition, the same clothes can do lighter, better, better, better, better, better, better, better, and more clothes. Finder and more friction, this is the evolution direction of our future product line. Our yarn is not only 10 times stronger than the nylon version, but also lighter. This is a cool feature, the same product, but lighter More firm. “