INVESTORS/EIIS 2019


Following a successful launch of the Company in 2018, Frankman Grooming Company Ltd. trading as FRANKMAN, is seeking to raise up to €150,000 in equity share capital through the Employment and Investment Incentive Scheme 2019. 

EXECUTIVE SUMMARY

Anchored in simplicity, FRANKMAN is a responsive personal care company created specifically for men. We design, manufacture and sell expert grooming
products led by customer insights and trend-based consumer needs. We recognise personal care gaps both here in Ireland and internationally, and work with industry experts to develop top quality yet affordable product solutions.

Following deep market research to fully understand the changing face of male
grooming behaviour/spending and a thorough R&D/Testing phase, FRANKMAN
launched in late 2018 with a full suite of bespoke men’s hair styling solutions. To
date, the Company has achieved over 90 store listings in Ireland and will begin exporting to 2 European countries via Distribution agreements in Q1/2 2020.

Hailed "the fastest growing personal care category" by L'Oréal, the world’s largest beauty company, the global male grooming is booming. Business was worth $21.65bn in 2018 and is estimated to rise to $27.76bn by 2023. Narrowing down to addressable markets, Ireland’s market opportunity is rising from €181 million in 2018 to €203 million by 2020. Similarly, in the UK, market share is expected to rise to £2.2 billion by 2020 with the relevant market worth £407
million. Importantly, 2017 was the first year where there were more Google searches for men’s hair than for women's hair.

Research has been at the heart of everything we do at FRANKMAN from the
very beginning. Extensive independent research showed a clear gap in the
mainstream men's grooming market so ahead of launching in late 2018, we set
about validating this and building a customer persona.

The market landscape is extremely fragmented. At the lower end, multinationals like Unilever and P&G operate in a space dominated by products at a lower price and lower effectiveness. At the other end are ‘expert’ products generally recommended by barbers and at a much higher price point with superior efficacy. However, men told us (1000+ interviewed) that an inflated price point, limited access channels, confusing on-pack language and brands having too many products in their range were major issues to ongoing purchase.

FRANKMAN products are made using a mix of classic, hard-working cosmetic
ingredients and cutting-edge innovative compounds that are entirely new to men's grooming. Blind tested with 10 barbers and 36 men, against some of the leading premium brands including Hanz de Fuko, Imperial and Shu Uemura, pre-launch, FRANKMAN was ranked #1 84% of the time. These 4 innovative products derived from two years of R&D were expertly engineered, formulated and manufactured in Ireland.

It was essential that all looks could be achieved but with a condensed product portfolio. They are a Dry Shampoo Injected Clay, a Clay/Wax Hybrid, a Water-Based Pomade and a Grafting Cream. Since launch, the multi-use products have received 100% 5-star reviews on our site and we're getting daily positive customer and influencer feedback. Proving they love the products, 41% of online sales in October 2019 were from 2nd or 3rd time purchasers. 

Our distribution strategy allows easy, convenient access through 3 channels. We
make it as simple as possible to purchase FRANKMAN and to tie in customer loyalty. As well as serving traditional purchase channels through pharmacies via a Sales Agency (we are the fastest growing brand in the male category in McCauley Health & Beauty) and barbers (direct) FRANKMAN’s strategy has been to disrupt the category. By focusing on lifestyle outlets such as sports stores, gyms and online through an auto-replenish subscription model (roll-out expected Q2 2020) the Company has positioned its' routes to market to work to the customer’s schedule.

FRANKMAN is focused on growing its reach and has an ambitious export strategy in place. After identifying key export opportunities, contracts are agreed
in principle with distributors in Poland (focused on Drugstores) and Spain (through the professional channel - Barbers and Salons). Roll-out is planned
to begin in Q1 2020 in Spain and Q2 for Poland. Both markets represent huge
growth with male grooming spend forecasted for huge upward curves in the
coming years. Beyond Spain and Poland, we will develop our international
distribution model in a considered way, selecting the right partners to represent
the brand.

Looking forward, FRANKMAN has an ambitious R&D and new brand rollout for
2020 and beyond. Sitting within the current range, the Company will launch
further hair products in 2020. Furthermore, on the back of increased
brand trust and recognition, we will begin the product development phase of FRANKMAN Skin – a skincare range using active ingredients but delivered in a simple, logical way to the end user at a price point that combats the heavy hitters. Sitting alongside, we have a vision to create an entirely new, first to market, children’s personal care category. Following a trend where parents told us that they were styling their kids hair and kids styling their own hair with ‘adult’
targeted products, FRANKMAN researched the viability of launching a junior hair styling range using 100% natural ‘no nasties’ ingredients. Excitingly, the formulations would all include a lice-repellent formula. With support funding,
proposed rollout would be Q3 2020.

The FRANKMAN team has 10 years + experience in premium FMCG brands, online marketing and bringing start-ups to market. Michael Swift was a professional rugby player for 16 years. During his playing career he successfully launched and sold a subscription-based beauty startup. For over 8 years Gill Blake-Swift worked for the world’s largest beauty company, L’Oréal, in a senior marketing role. Since then, Gill has worked with both McDonald’s and KBC Bank. She has been nominated for and won 8 Irish Media Awards and is on the Board of CCI, Irish Advertising Practitioners of Ireland.

The principles of the Company have financed FRANKMAN primarily through
their own funds as well as support from a LEO Priming Grant (€20,000) and for
participation on the New Frontiers Phase 2 full-time programme (€15,000)
The company was also awarded a €30,000 marketing prize after placing 1st Runner-Up in the nationwide AIB Start-up Final. The Company is seeking to raise funds through the issue of “B” Ordinary shares @ €1 per share through the EIIS scheme. The preferred minimum investment level is
€5,000 – as a syndicate or individual.

PROCESS

If you wish to express an interest in this investment and to receive the full 2019 EIIS Information Memorandum, click here: FRANKMAN EIIS doc

Please then contact Michael Swift, MD of FRANKMAN / michael.swift@frankmangrooming.com to show interest. 

Alternatively, you can call 0872 313 970 if you have any questions on the scheme.