Cruso

Equity Belgium 68 investors Tax Shelter applicable
A maker of solid wood furniture and objects
€912,500
Pre money valuation
30.5%
Equity offered
€63,400
Amount raised
€212,500
Committed by co-investors
0 days
Remaining
€50,000
Minimum target
127% funded
This campaign ended and is now negotiating with select business angels
Contact us if you are interested in a private meeting with this entrepreneur.

DISCLAIMER

Every investment decision must be based on an examination of an exhaustive set of information provided by the entrepreneur on his online profile. Spreds only proceeds to a limited verification of this information and does not control the investment opportunity within this company. Spreds did not verify the extent to which the business plan is deemed realistic and does not intervene with the final Information Note, including the retained maximum valuation. Spreds will align itself with the financial terms negotiated with the co-investor(s).

Description

Cruso values bring together outstanding designers with the finest craftsmen, with the aim to improve the client experience with design products. Cruso is a Belgian brand with the ambition to represent Belgian furniture design with a high level of quality. The materials used are mostly natural and of selected local origin : 100% made in EU. Thereby improving the durability, long term value and circular value of all our products. Cruso aims to bring innovation with the integration of craftmanship into highly modern digital production processes, while maintaining maximum human interactions in the prototyping and sales processes. Products are designed with 3D technologies, enabling faster design-to-production capabilities and with a more constant quality. Cruso will invest in innovation with the integration of new natural materials and renewable production capacity in its designs. Our ultimate goal is to exceed clients' expectations in terms of product durability, buying experience & usage experience.

Catalogue

Download 2019_CRUSO_catalogue_ldef.pdf

We treat our suppliers, clients and partners fairly with adequate practices and processes to safeguard their interests and rights throughout Cruso's industrial operations.

Problem

People looking for furniture are currently looking for quality products that are robust and made from natural products. They are becoming more demanding on the select origin of products and transparency of manufacturing facilities. And they are also looking for top designers specialised in furniture and with a settled & international recognition. While some other brands offer a lot of items, these other items often reproduce mere "copies" of established designs. As a consequence the off-the-shelf furniture offering in the current market tends to be very narrow for original design in durable furniture products.

Idea

The main positioning of Cruso is a premium brand that appeals to the mid-market clients with top-end quality and finishing expectations. It competes with the mostly dynamic brands in furniture (Muuto, La Chance, Menu, Hem, Norman Copenhagen, Woud, Petite Friture,...) on quality of its manufacturing. In a second stage, Cruso will also develop a more affordable line of furniture and accessories ("Access line") that it wants to appeal to the mid-market entry with simple designs that will be more affordable to the largest clients segments. Our competitive positioning is to grab market share to the higher priced brands by competing on quality & novelty while offering some very attractive products to entry-level clients.

Marketing strategy

While entering in distribution agreements with agents in the first half of 2019, sales are expected to ramp up to industrial levels in 2019. The second half of the year 2019 will grow faster as with more effective sale are stemming from the opening of France, Germany and the Netherlands. Reaching sales targets will be achieved through the agreement of distribution contracts in the largest countries. Countries where contracts will not be established yet will be served directly in wholesale by Cruso, leveraging on our experience in project sales. This will enable us to gain great insights in smaller and more remote markets before allocating markets to the representative agent(s).

Distribution strategy

For Sales, we will be growing the product range, as well as using a community-oriented strategy, growing a tier-1 agents network, designers competitions and make direct sales proposals for real estate projects for new countries. The key objective is to develop the product catalogue from 6 different items today to 24 different items in 2020. This provides with much better cross-selling opportunities with clients when they have an interest for one product of the brand. Each new product will be integrated in the product range as a potential best-seller item.

Internationalisation strategy

On the shorter term, new sales will be concluded through agent deals. Looking for the best agents in each countries. There is a specific market entry roadmap depending on availability of each entry channel. Having analysed the different factors, the list of countries to open are : Countries to be opened 2019 : Netherlands*, France*, Germany*
Countries to be opened 2020 : Great Britain*, Spain*, Singapore*, Poland*, Sweden*, Switzerland*, Portugal, Ireland(*) included in the investment plan

Intellectual Property

Cruso brands is protected as a trademark and each new model is protected as a model. The investment will enable a broader protection in terms of countries.

Major contracts

As 2018 landmark sales, Cruso sold 12 'Paddle' chairs for the UBER Headquarters in Amsterdam. Wallpaper Store is currently selling both "Paddle" and "June" series.

While the sales investments were very limited, Cruso products continued to receive interest from client prospects and feedbacks are generally very good and leading to quotes. Cruso received additional quote & requests from large client prospects : Architonic platform : more than 50 requests for information and interest. Direct enquiries : following Orgatec in Cologne in 2017, there were 28 requests for samples or quotes of which 25 requests being international (on 12 month period).

Currently, we receive an average of 1 to 2 quote requests per week for various sizes of projects. For restaurants, offices and home interiors, sometimes for 30 units.

Cruso Founders

Credit : Benoit Deneufbourg - PROCESS exhibition @ CID (Grand-Horu, Belgium)

Main partners

Suppliers - Cruso is currently making new agreements with productions factories in Portugal and in Lituania. Both locations offers great quality at affordable prices for 100% made in Europe design furniture.

Designers - There are two new designers confirmed for new models in 2019. Cruso will expand its catalogue with uniquely positioned designs and great addition to the current product range

Clients - Cruso has been confirmed as future supplier for Leonidas (Belgium), which has added the chair and stool into its procurement catalogue for a new network of food outlets (chocolate tea room concept).

TAX SHELTER 45%

This business qualifies for the startup tax shelter. If you meet the conditions, 45% of your investment will be reducted from your personal income taxes. Read more…