As Haoma Prepares for our 2nd Co-Op with KickFurther, I want to celebrate that we paid off our first Co-Op 4 months early!
HAOMA was founded on the belief that the human connection to plants is key to our well-being; it is our mission to inspire people to take care of themselves, each other and the planet. We create clean and effective skincare products that explore different adaptogenic plants and earth-based ingredients. Cruelty-free, vegan and gender neutral we develop unique products from untapped natural resources and elevate them for the conscious customer.
The first collection in the HAOMA Skincare Series explores Cannabidiol as a super-ingredient, pairing it with a complex combination of other powerful adaptogens. It includes our five-step CBD Skincare System providing a comprehensive CBD facial skincare regime for all skin types.
Our recently launched second collection, Earth, explores the purifying elements of minerals and clays. Our Earth Soap moisturizes while detoxifying the skin and our Earth Deodorant is an all natural deodorant that actually works, absorbing moisture and neutralizing odor.
In early 2022, we will introduce Mycelium, a collection that explores the moisturizing and healing benefits of mushrooms.
Kickfurther Experience: This is our second Co-Op on Kickfurther, and we are thrilled with the partnership and the opportunity to continue to expand and use this awesome resource.
HAOMA products are currently sold in over 88 retailersacross the country,
including Neiman Marcus, VINCE, Urban Outfitters, Auberge Resorts, Fred Segal, Shen
Beauty (where we are a top seller), Reliquary, Imogene and Willie and Alchemy
Works to name a few.
We have also made some strides towards our goal of introducing HAOMA in
hospitality venues. Bunkhouse Hotels - Hotel St. Cecilia in Austin, TX - has
stocked HAOMA products in their in-room spa mini-bar. We are looking to
grow this program into their other properties as well.
Our direct-to-consumer online channel outpaced our expectations in Q4
- We ended the year with some really promising metrics from our website:
- Our database grew 236%
- Average Order Value of $105
- Over 20% of our Customers Repeat Purchase (within 50 days)
FINANCIAL GROWTH SUMMARY & GOALS
We are going to continue to operate as a lean, gross-profit focused organization.
We plan to grow sales 2020-2023 at a 105% CAGR (compound annual growth rate)
with minimal increase to OpEx. Additionally, we will continue to improve COGS YOY by 2 pts by leveraging efficiencies of scale.
Sales Plan: We are excited to have had tremendous sales growth in our first 12 months of business and will use these funds to continue to secure the future franchises of Hoama.
Here is what we have accomplished:
DIRECT TO CONSUMER:
Our biggest opportunity to recruit new customers is online.
We have grown consistently despite the challenging climate and we have an
extremely high returning customer rate(dependent upon cohort, it ranges between 21-36% over a 6-month time period). We have found that our
customer LTV (lifetime value) over 12-months is $189 and our
CAC (customer acquisition cost) is progressively improving. We are going to continue to
leverage digital marketing to drive these efforts, including paid search, paid social,
email/CRM, search engine optimization, content strategy and display advertising.
Moving into our second year, we are exploring VIP and rewards programming to keep
consumers engaged and maximize LTV (lifetime value).
Continue to drive luxury retailers through in store support,
sampling opportunities and brand discovery.
Expand boutique retailers that add cache and provide
access to “local” consumers.
Tap into a growing channel with little competition.
Create amenity partnerships with hotels and spas.
We are currently in the contract stages with a group focused exclusively on
launching clean beauty brands on Amazon.
Focus on international expansion through key relationships in markets including Korea, South America, Australia and the Middle East. We are currently in
contracts with distributors in China and the UAE.
We are excited to partner with the Team at Kickfurther and have you be a part of the ongoing Haoma success.