PishPosh is a rapidly growing online retailer of premium baby products, specifically luxury strollers ($200 to $300 and up), car seats and other baby gear, including chairs and feeding items. We focus on offering baby gear for the mid- to higher income demographics, specifically those with an annual income of $75,000 and more. Currently, our average order is $200 – $300.
According to Market Watch, new mothers represent $16 billion in combined consumer purchasing power.
Based on our experience in the industry, we believe that, since its founding in 2015, PishPosh has established itself as a leading e-commerce platform with an extraordinarily engaged customer base of middle- and upper-class mothers. PishPosh distinguishes itself by offering new and unique brands/products that inspire moms to shop.
We are primarily a baby gear distributor based in Lakewood, New Jersey. We showcase and sell our products through our showroom boutique and our website, www.pishposhbaby.com, and third-party marketplaces like Amazon.com and our boutique (on site).
We stock items of which we sell the most quantity in a dedicated warehouse and fulfillment center located in Farmingdale, New Jersey, which we believe improves customer service, shortens the delivery time compared with those e-commerce retailers that do not hold any inventory, and lowers shipping costs compared to drop shipping. We ship via FedEx, UPS and USPS throughout the United States (the lower 48 States) and free shipping on orders over $75. We currently maintain approximately $3,200,000 (as of January 4, 2022) of inventory, consisting mostly of strollers, car seats and highchairs. We stock the majority of our inventory so that we can have 60 – 90 days of inventory available to us depending on the season. We currently employ a total of 21 employees, 10 of which are full-time employees and 11 of which are part-time employees.
The stroller segment has grown at an average year over year rate of 5% from 2015 to 2019. Due to larger spending capacities, in North America non-essential baby items like baby carriers sell best. When it comes to where to shop for baby products, parents traditionally prefer to shop in specialty stores. Consumers like that they can shop for a wide variety of products all in the same category. They also like that they can get after-sale services, installation instructions, and product knowledgeable sales associates. With the increasing popularity of e-commerce sales, the online distribution of baby products is expected to grow at a Compound Annual Growth Rate (“CAGR”) of 8.89%. Since the younger generations are the ones with internet knowledge and the ones who are purchasing these products, they are quickly growing the market. (Bonafide Research & Marketing Pvt. Ltd Dec 2021).
We connect with expectant moms to earn a new mom’s loyalty in the critical months before the child’s birth and, help prepare them for the baby’s arrival. From the moment a woman finds out she is pregnant, we believe that the way she thinks, feels and shops changes. New moms may be purchasing products and services in categories where they have little or no experience. We believe that new moms are confused and anxious and are looking for education and guidance.
**Note: Revenue and net loss figures are for the 12 months that ended June 30, 2022.
(Note: PishPosh Inc. voluntarily postponed its IPO at the direction of its lead underwriter late in the afternoon on Wednesday, March 8, 2023, on what was expected to be its first day of trading, according to NASDAQ. PishPosh announced the postponement in a news release on March 9, 2023, in which the company said it intends to pursue an IPO at a later date. PishPosh Inc. priced its IPO on March 7, 2023, with a slight upsizing – to 1.82 million shares – up 3 percent from 1.77 million shares – and priced the IPO at $5.00, as expected – to raise $9.1 million. The IPO raised about $270,000 more than the estimate under the terms in the prospectus. PishPosh Inc. filed an S-1/A dated Feb. 13, 2023, in which it slightly increased the IPO’s size by raising the number of shares to 1.76 million shares (1,766,618 shares) – up from 1.74 million shares (1,742,618 shares) – and kept the assumed IPO price at $5.00. Estimated IPO proceeds are now $8.83 million. PishPosh Inc. filed its S-1 dated Oct. 21, 2022; the company filed confidential IPO documents on May 13, 2022.)
(Note: In the S-1/A filing dated Feb. 13, 2023, the number of shares offered by the selling stockholders was cut to 1.30 million shares (1,295,065 shares) – down from 1.34 million shares (1,337,382 shares) of common stock to be sold in the offering pursuant to the Resale Prospectus. The selling shareholders’ stock will not be sold until after the stock sold in the IPO starts trading on the NASDAQ, the prospectus says. The company will not receive any proceeds from the sale of the selling stockholders’ shares.)
|Industry:||Luxury strollers & baby gear|
|Address||1915 Swarthmore Avenue Lakewood, New Jersey 08701|
|Phone Number||(732) 905-3716|
|View Prospectus:||PISHPOSH, INC.|
|Revenues||$19.02 mil (last 12 months)|
|Net Income||$-4.05 mil (last 12 months)|
|Price range||$5.00 - $5.00|
|Est. $ Volume||$9.1 mil|
|Manager / Joint Managers||Boustead Securities/ Sutter Securities|
|Expected To Trade:||3/8/2023|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|