(Note: This is an IPO of 1.66 million (1,662,618 shares) of common stock at $5.00 each. The selling stockholders are offering 1,337,382 shares of common stock to be sold in the offering pursuant to the Resale Prospectus. The selling shareholders must sell their shares at a fixed price per share of $5.00 until there is an established public trading market for our shares of common stock. Thereafter, the shares offered by this prospectus may be sold by the selling stockholders from time to time in the open market, through privately negotiated transactions or a combination of these methods, at market prices prevailing at the time of sale or at negotiated prices. We will not receive any proceeds from the sale of the shares of common stock to be sold by the selling stockholders.
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. filed its S-1 dated Oct. 21, 2022; the company filed confidential IPO documents on May 13, 2022.)
|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||$8.3 mil|
|Manager / Joint Managers||Boustead Securities|
|Expected To Trade:|
|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|