Ghost Flower

Update On Ghost Flower

founder @ Ghost Flower

Published on Jan 25, 2021

Excited to Have Ghost Flower's Bonnie Crotzer featured in Vanity Fair  

We were more than excited to have our Co-Founder, Bonnie Crotzer featured in a recent addition of Vanity Fair, highlighting Bonnie's unique online Ghost Flower yoga/stretch classes.  We may have a Super Star on our hands!  You can read more on our website at www.ghostflower.com

 
Business Update:
 We are pleased  to report that we wrapped up 2020 with sales slightly ahead of plan with a  300+% increase year over year.   We will be sending out our annual report as soon as the 2020 financials are finalized by our accounting group, likely first week in February.    

We have started out 2021 on a strong note with sales continuing strong compared to January 2020.     A few other notable highlights for 2021 include:

  • We recently added a second Independent Director, Brad Saranecki, with a  strong background  in digital marketing and fashion.  
  • Related to marketing, after looking at our growth plans for 2021 and beyond, we decided last December that we needed a digital marketing agency with more experience in apparel.  We weren't unhappy with the performance of the agency we were using, but also believed we needed to further  "up our game" to make our future growth plans.  We are excited to start working with CTZN https://www.wearectzn.com as our new agency.  Along with bringing on the new agency we also have added a part time Chief Marketing Officer (CMO) who will be coordinating all of our marketing efforts to maximize our marketing spend.  Our Independent Director, Brad Saranecki will also fill that part time role.  
  • Flash!  We have already sold out of some of our hottest items and will soon be manufacturing more to restock.  A good problem to have!   In addition we are in the planning stages for next years fall collection.   
  • On the capital side, we are still needing to financing growth with outside capital and do not expect to reach breakeven cash until at least 2022.    We will soon decide the best approach to financing next years collection (debt, equity, etc).  One option could be another WeFunder round next summer or a private round.   In the short term we are planning on using some short term debt paid back via a percentage of sales to provide the liquidity needed to do the restocking and a further increase in marketing spend.   We enjoy hearing opinions  from our shareholders and you can write to us at [email protected] for specific inquires and comments related to our financial strategy.