Introduction
Famme is a Norwegian e-commerce clothing brand.
A brief history:
- We started our doing a mix of B2B and B2C, selling mostly sportswear
- In 2019/2020 we did a huge “D2C offensive” and started rapidly increasing product’s offered
- At one point we sold everything from leggings, jeans, rain jackets, shoes and much more
- We sold high volume, but cheap, always having sales
- In 2022/2023 we decided to go back to our core, focusing only on sportswear and selling at a higher price (less discounts)
The rationale for having less sales is to build the brand stronger, but it takes more time and there is an expected dip in revenue.
Ownership & org
Owned by:
- Peter:
Previously took Gymshark and Freddy to Scandinavia (two famous international brands).
He is mostly working with product development + marketing.
- Mikael: Working with content & marketing
- Greg: Technical, logistics, accounting etc.
Key people:
- Chris: “everything man”, worked with us for 6 years on all aspects of the business, our MVP (most valuable player)
- Robert: Warehouse manager in SFJ
- Helene: Customer service (been with us for 2 years at least)
- Fotobakken: Photographer, shooted for many famous brands
Warehouse & Logistics
- We own An Autostore grid which is installed in Sandefjord, where we rent a warehouse.
- We are always negotiating prices and trying to reduce logistics cost, as it is one of the major costs in E-commerce
Company structure and legal
- We only have Famme AS, but we have a danish “sub-unit” which can be handy in terms of import to EU
- We also have swedish VAT number for export from Norway to EU, thus we are prepared for growth internationally
Systems used
- Shopify plus
- Gorgias - customer service system very well integrated with
- Airtable for no-code systems (custom systems) - a lot of use cases
- Tripletex for accounting, we actually use Tripletex for free and have done for several years (Greg worked there)
- Webshipper (integrates with carriers and Pio)
- Pio, Autostore’s WMS
- Okendo for reviews
- Klaviyo for email marketing
- Google ads, FB ads, snapchat ads and tiktok ads. We have agreements with all these companies so that we get invoiced, better for cash flow, while smaller companies “pay as they go”.
- DNB, we also have bankgaranti so we do not have depositum
Liabilities
- We have very few employees on “fulltid”, we are under 10 persons fulltime
- The only long term liability is our warehouse in Sandefjord
- We plan to rent short term in Oslo, with no long term binding agreement to reduce risks and being flexible
Revenue
Look at proff numbers.
One thing to note is that due to investing a lot in automated warehouse, that means we had less money to use on growth, but that will pay off longterm by lowering our operating expenses.
Social media & brand value
- Instagram is the largest, but we have snapchat, tiktok, youtube and pinterest as well
- Over 30k Norwegian members in our product development facebook group
- Over 1300 reviews on Google
- Several thousand review on our product pages
- Good reviews on Trustpilot, even though most people go there to complain
Plans moving forward
- Building the brand to be “high value”, so people expect to pay more for it
- Expand to other countries (if enough capital)