Product / Service Details
Shark Bite Resistant Wetsuits
Sharks Stop wetsuits are ideal for surfers and divers who want flexibility combined with protection. Our mission is to empower ocean users with the confidence to live out their adventures freely. Helping people to fear less, and enjoy the ocean more, creates more advocates for planet ocean.
Business Model
Summary
Currently operating exclusively through e-commerce, Shark Stop is now expanding into licensing our patented construction to other wetsuit brands, as well as forging partnerships with distributors, retailers, dive centers, and defense sectors.
Description
Shark Stop primarily operates through direct-to-consumer e-commerce, successfully reaching ocean enthusiasts and building brand loyalty online. We’re now expanding into licensing our patented shark bite-resistant fabric, enabling other brands to incorporate this innovative technology. Additionally, we’re forging partnerships with distributors, dive centers, surf schools, and rental providers to increase reach. Exploring opportunities with military and defense sectors adds further growth potential, allowing us to serve both recreational and professional markets with diverse revenue streams.
Mission & Objectives
Mission
Shark Stop empowers ocean users with the confidence to live out their adventures freely. Helping people to Fear Less, and enjoy the ocean more, creating more advocates for planet ocean.
Business Objectives
From this fundraising round we aim to:
- Increase marketing spend to both drive sales growth and also establish strong brand recognition as a competitive moat.
- Invest in R&D to launch 2-3 new product lines, addressing market gaps and solidifying our leadership in shark protection technology.
- Hire dedicated Sales, Marketing and Customer Service staff, including a Customer and Community Manager, to support B2B and ecommerce sales whilst enhancing customer experiences.
- Legal fees to create and execute licensing agreements on the various LOI's we have in place with leading wetsuit brands.
Industry
Summary
The global water sports industry is experiencing unprecedented growth, valued at over $50 billion USD annually and projected to expand at a CAGR of 6.5% over the next decade.
Description
Shark-related safety concerns represent a significant barrier for consumers, particularly in regions like Australia, South Africa, and the United States, where shark-human interactions are prevalent.
Shark Stop is positioned at the forefront of this niche, addressing these challenges with our patented shark bite-resistant textile technology, back by research from Flinders University. By seamlessly integrating advanced safety features into wetsuits, we are empowering surfers, divers, and other water enthusiasts to explore the ocean with confidence and peace of mind.
