Frahm Jackets, Nick Hussey and more crowdfunding

Got a link?

I took a look at them when I saw them advertised last year. Some of them look ok but not cheap.
I saw that it was his company and looked elsewhere.

Why would people crowdfund such an enterprise?
Are you just subsidising his business ?

What do you get back?

It's not really news, it's been going a couple of years.

The jackets are nice, I have a couple, would like a couple more but hey £££££

I would have given him the benefit of the doubt, we all make mistakes after all, and a lot of the sales are pre-order, which I suppose makes some level of difference. However, this is the second round of funding he's done, and is much bigger, which does look a bit familiar to the vulpine history. It's not really clear why it's necessary.

What's the history with Vulpine?

Read all about it here

In short, a couple of crowd funding rounds that appear to have funded lots of money going out to directors, and overly ambitious sales forecasts, then a fire sale.

“the director of Vulpine was helping himself to a salary of over £90k pa at the same time as running a start up business, using shareholders money, rapidly into the ground … In the last 4 months (Dec 16 to March 17) before [Hussey] pulled the plug … he paid himself £37k. This with the certain knowledge that the cash had run out … So in little more than 12 months, they have blown £1m and their business, apart.”

He added: “marketing is just completely f*cked up, it’s all about lies … you’re trying to pull the wool over people’s eyes, to create a veneer of untruth.”

Hard not to sneer at folk who buy into these so-called premium brands. But I am a sneery type.

Just had a look

Order now for deliver in October? Why, when I can buy a top end coat today and have it delivered to me tomorrow. Makes no sense, and hardly inspires confidence given his history.

Ta for the info. I like some of the designs and don't mind investing in quality but the pricing seems slightly 'aspirational'. I also don't like the model of claiming a higher RRP then offering a 'discount' for pre-ordering. If that's the only way you sell your stuff then it's not really a discount is it.

Am I alone in not being impressed by them for the price they're asking?

Edit: I just noticed the MH angle, the cynic in me doesn't like that.

I mean, it worked last time, what could possibly go wrong?

If that’s the only way you sell your stuff then it’s not really a discount is it.

see DFS, sportpursuit, sportsdirect etc etc etc.

I also don’t like the model of claiming a higher RRP then offering a ‘discount’ for pre-ordering.

Edit: I just noticed the MH angle, the cynic in me doesn’t like that.

I work in marketing, my business covers MH in several dimensions, and this looks crass AF.

What's the MH equivalent of green-washing, rainbow-washing etc?

Well-washing?

Well-washing?

Not bad at all.

Health-washing is already a thing too apparently, to do with food labeling.

What's MH?

M mental
H health

Thanks. I'd only read the linked articles but just looked at the website and see the mental health part. Not judging, but it seems a bit of an odd thing to add to a website aimed at selling things. More power to him if he's trying to help people, but its easy to take a cynical view to that approach.

For some reason I was expecting tailoring.

Hard to see what those jackets offer in terms of style or substance that isn't done better by any number of actual 'premium' (vom) brands.

Am I alone in not being impressed by them for the price they’re asking?

No I think they look crap.

Like others I can't get my head round anyone who would order a jacket to be delivered 9 months in the future.

In terms of looks, George at Asda sell similar looking wares.

No I think they look crap.

 

From a man with a reputation for doing this same business model and not coming out it well

I just hope folks have done some due diligence and are going into any schemes to give him money with their eyes open.

What could possibly go wrong?

Having read the BikeBiz article, I'm amazed crowdcube let him back on their platform.

Same business model as Sick bikes by the looks of it.

overly ambitious sales forecasts, then a fire sale.

To his credit, all the Vulpine stuff I bought was really good quality, well designed and I'm still wearing it. These jackets look similar (and I've been tempted because they do actually do a 'tall' fit as an option with longer arms and body. But my current winter coat has some years left in it yet).

Vulpine started off reasonably expensive. Then had half price sales when they were overambitious with their ordering. Once you've done that a couple of times on the whole range no-one's going to pay full price. I think they then tried to raise the prices further to compensate and it just looked ridiculous. His solution with Frahm is 100% pre-order, with the only full price stuff being returns but it's a big ask for people to order that far ahead, and I can't see that it can get beyond a certain size with that model. (I'm guessing if you buy on your credit card you remove any personal risk on the order? When do you actually pay the full amount - on order or delivery?)

Crowdfunding for equity is so high risk as to be ridiculous. Theres no exit route and while a few large 'angel' investors would have some control and influence over strategy (and how their money was being spent) load of small investors dont. But frankly I'm full of admiration for him pulling off the same thing a second time.

Same business model as Sick bikes by the looks of it.

<wonders in passing what Jordan Sik is up to this week>

£700 for a pre-order on a jacket with no heritage or earnt rep. Get f-cked!

I ordered a couple of their jackets last year and have had them for a few months. A thermal military parka and a ventile field jacket. They are worn for all my dog walk and general outdoor stuff and I really cannot fault them. I can’t comment on longevity but they have hard a few months rough use and show no signs of wear. They are jolly expensive, so I’d hope to get many years use out of them.

Have had a few mails back and fro with Nick and team and they have been spot on for customer service so far.

I like a lot of the jackets...but...
Overpriced
Vulpine history
Waiting times when you could have something tomorrow...

For that reason...I'm oot...

Knew I'd seen the name before....

https://singletrackmag.com/forum/topic/what-would-stw-wear-everyday-warm-waterproof-mens-jacket/

I've just seen the prices. Good lord.

Fools and their money, I suppose.

I was curious about the brand and the Ventile fabric, so whilst googling, came across a review here. Anyone want to claim the site, as seems very STW?

well they seem to have got where they wanted to, from FB :

FRAHM Jacket is in Bath, Somerset.
c1ctm82Slpom24ft365ceh ·
This is the screenshot I took of our pitch at 00:01 this morning, as our pitch flipped to funded.
PHEW. That’s my overriding feeling. We raised £639k in 9 days. That’s awesome. But the work and emotional investment put into this pitch, and my intense ‘no stone unturned’ approach to big projects means I’m twonked.
Crowdfunding is very weird - it‘a wonderful but incredibly exposing. Your entire business is there to be shown, poked, prodded, critiqued, trolled, praised, backed! You don’t do it unless you have faith in every facet & a thick skin.
But we did succeed. In fact, we did brilliantly. Thank you. I just told all my colleagues how they’d built something that so many customers, strangers (new friends!) and even big time finance professionals wanted to back. That’s no mean feat.
I guess I’m giving us a pat on the back. Just a quiet one, if I may, because I am British after all!
Now? A long bike ride in the sun. Then, enacting plans, gradually, not all guns blazing, to make us better, from top to bottom. To find new customers and look after our current ones even better. You should enjoy the results.
I’m excited. Tired. Excited. Both! Take care, thank you again. Nick. ✌️🪲

Well, last time he managed a million, still managed to rack up losses of over £700,000. and all that money appears to worth 10% equity ?

I just hope everyone's got their eyes open.

The article link posted by drlex shows the author as nick; plenty of people with that name but, co-incidentally, it's also mr hussey's name.
The assertion that Vulpine grew to be huge is a massive overstatement.
As for the crowd funding let's see what happens to it; the current business model - low volume, order and pay months in advance - doesn't warrant the cash injection they've been seeking unless, of course, they intend to ditch the current model.
How much of his own money has the founder invested?
Has he taken a financial risk or has he offloaded all of that onto investors?
Skin in the game?
One to watch - and continue to avoid.

The article link posted by drlex shows the author as nick; plenty of people with that name but, co-incidentally, it’s also mr hussey’s name.

To be fair that Nick in the article is also Norwegian. Nick Hussey isn’t (I used to know him slightly - really not much cop on a mtb, “Why does Nick go down all the descents so slowly?” As asked by a lady who came out on a mtb ride with us once)

As this has gone a bit depressing, I just thought I'd balance a bit. The jackets are very good. I got one in 2019, ordered 3 months in advance, and it arrived bang on time. Quality is top. Ordered another that was in stock in 2020, and I really like it, great fit and not seen anything for sale the same elsewhere. You can argue that they are expensive and they are but that doesn't mean they are over priced.

Still hovering around thinking about getting one of these as modelled here by SP. Anyone else bought one since this thread was last active?

yeah, I have half a dozen or so of their jackets, and a few overshirts, all very good and oldest ones are now a couple of years old and good as new.

, I have half a dozen or so of their jackets

That is a lot of jackets...

^^^ it is !  3 dog walks a day plus general outdoor use.  they all get a fair amount of wearing !

Fair!