Crave is a lifestyle brand that believes sex toys should be as beautiful and sophisticated as other modern products in our lives. With larger cultural shifts moving the category rapidly to the mainstream, a large under-served market is emerging on which we have begun to capitalize through class-leading designs and a contemporary approach to the channel.
We started with the Duet — the world’s first crowd-funded vibrator — and have since expanded into a wider range of vibrators and erotic jewelry including most recently, Vesper, a wearable vibrator necklace. The market acceptance of our products, combined with strong product margins approaching 80%, has helped us reach profitability and put us on a 100% YOY growth rate, which has been largely organic.
Currently operating at healthy profit margins of 30% EBIDTA and cash flow positive. Any future capital would be for 1) inventory for future growth, 2) expanding product and IP footprint, and 3) sales and marketing efforts