Famme status

Depending on how well we execute the last part of 2021, we might reach 100 million in sales in 2021.

We are 5 months in with 22.5 million in revenue. If the growth we have had continues and we assume that the last part of the year performs double the first half and assume a very bad June , we will easily reach 25+25*2 = 75 million.

That is without any external investors. we may further accelerate growth by using our private funds, where we in total have a few million NOK that could be spent.

We have managed to automate our warehouse in Norway and will invest further in automation for the new warehouse in Sandefjord which will be 1500 m2 to start with, and we must take 1000 m2 in 2 years.

Furthermore we have tested a 3PL in the Netherlands and have already sent our first pallets to this 3PL.

Department status

Customer service

We use:

• Gorgias for customer service
• Airtable for forms. Returns, contact form, complaints

Notes:

• We have built a custom return processing system in Airtable we still use
• We have 1 person full time on customer service which handles email, comments on social media, reviews and messenger
• Our macros are OK, could be improved remove old ones.
• Will be a change as we will stop shipping internationally from Norway, macros about shipping and pages need to be changed

Marketing

We use:

• Klaviyo, email marketing
• Pushowl, app for push notifications
• Google, FB/IG and snap advertising tools
• Added Adtraction as affiliate network. Not seeing good results so far to be honest. Seems only to be discount sites leaching sales.

Notes:

• At the moment we miss a good performance marketer, we have little control of our spend and we probably renew our ads less than we should
• Our product development group still has good engagement: https://www.facebook.com/groups/fammeproduktutvikling
• Influencer marketing system works great, but can be improved. Updated our terms to simplify

Development

We use:

• Python, programming language
• Pycharm, Jetbrains’ Python IDE
• Github, for version control

Notes:

• 1 fulltime, 2 part time
• Will have quite a few summer students programming
• Thinking about developing a “real” influencer system other brands can use as well to step up the game

Purchasing

We use:

• Inventory planner, app that connects to Shopify and is used mostly for forecasting, POs and replenishment
• Airtable, for custom built product development, PO and shipment management

Notes:

• We are in sort of an identity crisis in terms of what to focus on as we have strayed far away from only sportswear
• We are rapidly expanding our supplier base
• Looking into cosmetics and other things than clothing

Accounting

We use:

• Tripletex.no
• Transferiwse.com for international payments

• Have used OFX, cheaper for large payments, but harder to use

• Doing everything in house at the moment
• Might need to hire a person with more experience in house or get external help for the end of year reconciliations

Analytics

March was the best month so far this year. We have a good returning customer rate, all months have been between 35% and 45%.

The average order value is about 600 NOK. The customer usually gets 2-3 items for that price.

We do not have good enough data for this, something we need to do better analysis on. But a back on the envelope calculation:

# 0.8 to remove the VAT. Assuming cost of goods for average order is 200 (probably less). 50 NOK average shipping. 
600*0.8 - 200 - 50 = 230 NOK 

So the average order will give us 230 NOK.