PLEASE BE AWARE - 10/2/2017
Read the following statement from Kickfurther before purchasing packs from this co-op.
This co-op is among the first launched under one of Kickfurther's newest co-op types, "Inventory Inspection" or "II". Co-ops of the II Type are not necessarily backed by assigned wholesale purchase orders for which the client sets Kickfurther is set as the payee. They also do not use a third party warehouse and fulfillment provider. Instead Kickfurther is authorized by the brand to conduct monthly in-person inspections of the inventory when it arrivesthird party inventory verification.
Read more about the release of Inventory Inspection here.
Payouts made during this co-op will not come in one lump sum to Kickfurther from the brands client directly at the end. Instead Kickfurther will invoice brands bi-weekly based on self provided inventory reports. When monthly in person inventory inspections occur we will immediately invoice against and investigate any discrepancies. On a case by case basis Kickfurther may also request access to other internal company reporting systems.
Kickfurther inventory is subject to "First In, First Out" meaning that once the Kickfurther inventory arrives or the Inventory Available date is reached, all sales of the funded item type are invoiced against regardless of whether the specific unit shipped was funded by Kickfurther or the business.
For more information on how invoices are generated see this post.
The Completion date has been updated to include a 10 day hold period after the final payment is due by the brand. See below for the contractual Payout dates.
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Hello KF Buyers,
**We have re-launched this co-op with increased profit due to buyer feedback. This is an excellent opportunity for our business and we welcome you to profit with us.**
This co-op was originally intended to be a purchase order backed co-op for 2 purchase orders of our signature Watchitude Slap Watches for over 140k that have been ordered by major retailer Academy Sports+Outdoors. However, although Academy did verify the purchase orders, they have refused to name Kickfurther as the payee preferring to keep the relationship with Watchitude direct. Despite that we have still signed an assignment on these orders with Kickfurther. Because of this we will be launching this co-op as an "inventory inspection", but we plan to ship the inventory to this wholesale client immediately and pay off the co-op based on a single sales period and payment term.
We will pay our supplier this week and Kickfurther will confirm the payment and reimburse us. (We have no issue with KF paying directly, but were on too short a schedule).
The additional cashflow from financing this order will put us in a better position to prepare for Q4.
Although the academy PO's are large they represent less than 20% of our last 12 months revenue. If for some reason there was an issue with Academy we have numerous other sales channels to sell our product. In addition the funded SKUs represent a less than half of our overall SKUs. This means there will be substantial revenue available from other units to help supplement any sales issues Watchitude could have.
For a better understanding of our schedule see the contractual timeline below:
We greatly respect the KF Buyers and appreciate your support in growing our business. We hope this demonstrates our dedication to abiding by our commitments.
Academy is a premier retailer who you can rely on. Watchitude is a premier brand you can rely on.
Let me know if you have any additional questions and we look forward to working together.