acquisition opportunity no-tie shoelace brand, …
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AUCTIONMay 25, 2021 at 12:00 noon ET
Hilco Streambank is seeking offers to acquire the assets of no-tie shoelaces brand HICKIES. The assets include a robust global intellectual property portfolio, including patents, trademarks, and domain names, an e-commerce storefront, inventory, social media assets, and more (the “Property”). The company’s CEO is also available to provide transition services to offer know-how and for maintaining continuity of the business.
Alternatively, the Lender is also will ing to sell, through a private transaction, its position under the loan documents providing for a security interest in the Property. Contact Hilco Streambank to learn more.
BID DEADLINEMay 20, 2021 at 5:00 pm ET
ACQUISITION OPPORTUNIT YNO-TIE SHOEL ACE BRAND, PATENTS AND REL ATED ASSETS
The sale of the Property is being conducted pursuant to Article 9 of the Uniform Commercial Code by Hilco Streambank as agent for Midcap Funding XVII Trust, a secured lender (the
“Lender ”). The auction, if conducted, will take place via video conference.
WORKS IN ANY SHOES WITH EYELETS
INSTALL ONCE
ONE SIZEFITS ALL
ELASTIC COMPRESSION
WATERPROOF
ADJUSTABLE TIGHTNESS
FLEXIBLE
SLIP ON & OFFWORKS IN ANY SHOES WITH EYELETS
INSTALL ONCE ONE SIZEFITS ALL
ELASTIC COMPRESSIONWATERPROOF ADJUSTABLE
TIGHTNESS FLEXIBLE SLIP ON & OFF
ACQUISITION OPPORTUNIT YNO-TIE SHOEL ACE BRAND, PATENTS AND REL ATED ASSETS
2017Gross Revenue:
$14.4M
SALES HIGHLIGHTS
HICKIES.com
2018Gross Revenue:
$14.2M
2019Gross Revenue:
$11M
2020Gross Revenue:
$3.6M
Marketplaces Wholesale (International Retail Partners) OEM
Hundreds of thousands of shoes sold with HICKIES laces
pre-installed globally
THE ADDRESSABLE MARKET AND THE HICKIES BRAND FOOTHOLD IN IT
The global athletic footwear market reached $71.8 bil l ion in value in 2020, with an expected CAGR of 4.9% from 2020 to 2027. Analysts project an expansion of the market to reach a value of $100.3 bil l ion by 2027.1 In 2019, over 24 bil l ion pairs of shoes were manufactured globally.2
HICKIES disrupted the massive footwear market by creating a patented no-tie shoelace that turns any shoe with shoelace eyelets into a comfortable slip-on. The HICKIES no-tie lace is an attractive and superior design to both traditional laces and no-tie alternatives such as Velcro, dials, or lace fasteners because of HICKIES’ design, durability, comfort, and affordability.
The brand developed worldwide recognition through direct sales, marketplace sales, and recognized major retail partners in 29 countries. These sales generated more than $60 mill ion in revenue since 2015. Brand recognition grew through collaborations with market leaders in the sportswear and crystal glass industries. Given its recognition and growing popularity, the HICKIES brand is uniquely poised to capitalize on an exploding footwear market.
30% increase in sales when compared to sales with
traditional laces1 Source: “Global Athletic Footwear Industry (2020 to 2027) - Key Market Trends and Drivers,” Business Wire, Mar. 11, 2021.2 Source: M. Shahbandeh, “Quantity of footwear produced worldwide from 2015 to 2019,” Statista, Nov. 23, 2020.
Excludes shipping revenue. Hickies.com includes hickies.com.au, hickies.de, hickies.eu, hickies.fr, and hickies.uk. 90% of marketplace revenue comes from Amazon Marketplace sales.
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HICKIES ARE FOR EVERYONE
ROBUST INTELLECTUAL PROPERTY PROTECTIONOver 100 internationally registered patents throughout the US, the EU, China, Japan, Australia, Brazil, Mexico, and elsewhere, have created robust and broad protection for the HICKIES no-tie system, which preempts a significant swath of similar products. Registered patents protect numerous embodiments beyond the current HICKIES products.
ATHLETICS & SPORTS
HICKIES are adjustable and provide the same tension on each foot
every time you put on your shoes, making
them ideal for athletes and sports enthusiasts looking for consistency
and precision.
LIFEST YLE & CASUAL
Ditch the laces and expand slip-on options
to any shoe with eyelets. Sleek design, variety of colors, and
ease of use make HICKIES ideal for every
casual consumer.
KIDS
Allow children to independently put on their shoes and go, saving parents,
teachers, and caregivers countless
hours tying their l ittle ones’ laces.
LIMITED MOBILIT Y
Return independence and style options to
anyone with mobility or motor limitations, including the elderly, those recovering from
injuries, and special needs individuals.
DILIGENCE AND TRANSITION SUPPORTThe HICKIES founder/CEO is available to answer dil igence questions about the business, the breadth of IP protection, and the product, and he is available to facil itate calls with third parties (including the manufacturer, the warehouse, and marketplaces) that have historically supported the company. He is also available to provide transition support for the buyer. 3
ASSETS AVAIL ABLE FOR SALE
SALE PROCESS
Liens, Claims and Encumbrances; As Is, Where Is; DisclaimerThe Property will be sold free and clear of Lender ’s l ien and any subordinate security interests in the Property actually sold, subject to taxes, special assessments, l iens and charges that remain unpaid and unsatisfied (which will not be paid by Lender unless otherwise agreed in writing). The Property is being sold “AS IS” and “WHERE IS” without representations, warranties or recourse to the Lender and its attorneys, agents, or representatives. Without l imiting the generality of the foregoing, the Lender EXPRESSLY DISCLAIMS AND EXCLUDES ALL WARRANTIES, EXPRESS AND IMPLIED, OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE with respect to the Property. Lender disclaims all warranties of title, possession and quiet enjoyment. By its acceptance of any of the Property, a buyer acknowledges and agrees that Lender is not a merchant with respect to the Property and that the buyer has inspected the Property and is solely responsible for all defects and deficiencies. Lender further disclaims all f inancial, sales and other disclosures herein related to HICKIES, all of which has been disclosed by HICKIES and has not been subject to independent verification or confirmation by Lender.
• 101 registered in the US, the EU, Australia, Japan, and more
• 21 pending and allowed
• 93 registered in the US, the EU, Australia, Japan, and more
• 4 registered 3-D marks• 4 pending 3-D marks• 17 under published or
pending statuses
Patents
• Hickies.com, hickies.de, hickies. eu, and more than 128 other domains
Domain Names
• 4 registered copyrightsin photos, drawings, andillustrations
Inventory
Copyrights
Trademarks
~413k likes~61k followers~5k followers
Social Media Assets• Approximately 358,000
finished HICKIES packslocated in the US, Germany,the UK, Australia, Canada,the EU, and Japan
• Approximately 1.9 mill ioncomponent parts, namelyloose crystals, located inGermany and Mexico
©
AUCTIONMay 25, 2021 at 12:00 noon ET
BID DEADLINEMay 20, 2021 at 5:00 pm ET
G a b e F r i e d617.458.9355
R i c h e l l e K a l n i t212.993.7214
J o r d o n P a r k e r719.821.0894
hilcostreambank.com/hickies1 5 0 0 B R O A D W A Y, S T E . 8 1 0 , N E W Y O R K , N Y 1 0 0 3 6
A sale of the Property will be conducted pursuant to Article 9 of the Uniform Commercial Code by Hilco Streambank, as the agent for the Lender. A public auction will be conducted via a videoconference platform. Contact Hilco Streambank regarding the sale process, the Property, and for access to a virtual data room. The Lender reserves all rights to conduct a private sale of the Property and to cancel the public sale auction without further notice.
The Lender, its agents, and representatives make no representation or warranty, express or implied, as to the ability to deliver possession of the listed available assets and/or the Property, including but not limited to, any tangible Property and/or any third-party contracts or relationships.
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