Online Personal Styling Service The Chapar Launches Crowdcube Initiative to Raise £1 Million

The Chapar, a UK-based online personal styling service, is currently seeking  £1 million on equity crowdfunding platform, Crowdcube, as it prepares to expand its service. The company describes itself as a premium personal styling service for men that eliminates the hassle of shopping. The service is simple:

  1. Have a 10-minute phone call with a stylist
  2. Receive what they’ve chosen for you in 3 days
  3. Try on the selection of great picks at home
  4. Keep what they love, and the company collects the rest for free

The company stated

The Chapar Man is serviced by a team of stylists who learn everything they need to know about their client. Clothes are selected according to a detailed profile and are tailored to suit your particular lifestyle. Described as an ‘amazing new service’ by The Telegraph, the business is proven: we have over 20,000 members and achieved sales of £2.8 [million] last year.

The Chapar team also revealed it ships over 400 individualized Trunks a week to members across the UK and Europe. The Company has strategic plans to grow revenues to £5.4 million over the next 12 months.

“The average member spends over £250 on their first Trunk and orders between 2-3 Trunks per year. That member could then generate a LTV (Lifetime Value) of c. £475. So far, The Chapar has spent an average of £75 in marketing to acquire each customer. Based on our own calculations we estimate that an average customer would generate c£400 of contribution margin over a 7 year period, assuming we continue to spend an average of £75 to acquire a customer.”

Funds from the Crowdcube round will be used for marketing investments. The intiaitve is set to close at the beginning of June.

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