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We are opening the capital of Patine!

For 4 years, Patine has been inventing her own recipe for a new formula fashion brand. Today, we invite you to take your piece of the pie by becoming a shareholder in our company! From now on, go online to the Lita ethical financing platform to become a shareholder of Patine . You have until December 15!

--- THE FILM ! (sound on) ---

--- THE LETTER FROM THE FOUNDER ---

Paris, October 28, 2021

Dear future shareholders,

There you have it: this is an important moment. This time we are not offering you a questionnaire, a restocking or a pre-order, it's something completely different, and it's quite gratifying to finally be able to say it: I invite you to become a shareholder of Patine! It's not a proposal that came out of nowhere, I necessarily thought a little to arrive at this choice, then we worked to be able to present you with a solid and exciting project. However, the idea of ​​having you “in the capital” of Patine, since that is how it will be, appeared as an extension of our story for 4 years. It's quite rare for a brand to talk to its customers about how it finances its business. You never know if a brand is profitable or losing money. We rarely know who it belongs to, to whom any profits are paid.
So we are going to be part of the brands that lift this taboo and talk about growth and financing!
First, growth:
_We have made a choice of dynamic growth but at a reasonable pace since we set ourselves very demanding rules for design, production, distribution and communication :) Inventing a new way of doing fashion, obviously it's slower, the recipe is not already written. But that’s exactly what makes the project exciting! Kind of a new definition of success, and we think it's a model that needs to grow.
Then the financing of our development:
_ Patine has been a 100% self-financed brand since the beginning, which means that development has been achieved solely through growth in turnover.
_ Patine has been a profitable activity since the first t-shirt launched for pre-order in 2017 (many thanks to all those who trusted us!), we pay attention to our expenses and believe in the virtuous triangle economy-ecology-quality: )
_ Patine has developed its activity by spending 50% of the time on product development, 50% with you by email and Instagram day and night to listen to your suggestions and explain our biases, for the moment without advertising.

We could continue like this at the current rate of one new material per year but why stay in our comfort zone (confers the new jogging suits) when there are so many things to reinvent? Strengthen our know-how, co-develop innovative materials with a reduced footprint, develop the virtuous pre-order model, rebuild the site, increase the number of private meetings to try before ordering (in Paris but also elsewhere in France, Switzerland and in Belgium to start!), develop useful objects in collaboration with iconic brands, intelligently expand the wardrobe and share it with the men we have left behind! And then support you in the care of your clothes and prolong the desire to wear them, set up the new Studio, expand the team, serve as a springboard for new committed brands. All this while not only reducing the carbon footprint of each item of clothing, but by defending a fashion that we repeat rather than repurchase... We are ready for season 2 of Patine, ready to assert ourselves louder what makes us unique!

To finance these new projects, I am opening our capital through our first fundraising. And after considering several options, my favorite is to invite you, our community, our customers, to join us on board. Those who understand the project best are you, those with whom we have shared everything from the beginning, it is you, therefore the investors to whom we want to offer a piece of Patina, that is and you. It's very simple, after all! Last but not least: a fashion brand that belongs a little bit to its own customers, we find that very very cool :) And even more so when you know that the majority of shareholders and "business angels" are men* And even more when we know that a minority of investments in France finance so-called “responsible” projects**. Let's go against the grain and develop a new formula brand: ultra responsible, independent, and financed in particular by its own customers!

There you go, the pre-collection takes place on our Lita page : how to invest, what advantages, what risks, the minimum amount (we wanted this democratic fundraising), how you can get on board (it's simple, supervised and well organized ), what will happen next and how you will be invited as a shareholder to get involved in our strategy.

Phew, it already makes it a little easier to have let go, after months of keeping it to ourselves. We often sign our messages with “We can’t wait” and “Good day Club Patine”. This is even more true today. Who wants to invest and redesign fashion with us?

We look forward.
Good day Patina Club.

 

Charlotte Dereux, Founder (and the Patine team)

--- Q&A GUIDE ---

We have prepared a complete guide to explain everything to you!

#1. Why are you asking us to become a shareholder?

Because Patine is doing well and wants to go further! Thanks to you, your orders and your support, we feel like we are growing wings and we think it is time to accelerate our development to embody our brand ideal even stronger: just as demanding on our style and our creative universe as on our environmental and social impact.

It's time to launch Patine season 2: create new essentials of course, develop new eco-responsible materials, but also open a larger Patine Studio “v2”, where you can come and try on your clothes, have them repaired, drinking lattes and attending events, and then there's the man's closet. We also want to organize a Patine tour in France, then in Belgium and Switzerland... in short we have lots of projects to share with you our vision of a real sustainable lifestyle with clothes in it but not only that and it is to achieve them that We invite you to invest in our development today!

#2. What does it mean in practice to invest in Patine?

This means that in exchange for the amount you wish to invest - and which we will then use to finance our development projects - you will have shares in our capital. Concretely, these shares are called shares , which will therefore make you a shareholder of Patine (we detail what this means in the rest of the guide, see #4 and #6 ).

To be able to carry out this so-called fundraising operation , which is extremely regulated from a legal and financial point of view, we go through the ethical financing platform LITA.co , whose role is precisely to make fundraising possible. companies with a positive social and environmental impact with individuals and business angels.

#2bis. Why approach us rather than investment funds?

Because you are the best investors anyone could dream of! We explain why with a special #reflection point on corporate finance (not boring, we promise):

To develop and finance new projects, a company has several solutions.

It can use its own funds, that is to say, to put it simply, the money which was injected into the creation of the company and the profits made since. This is what Patine has been doing for 4 years: our company has been independent and profitable since day 1 #yeswecan! Except that this option has limits because there are projects that require more funds than what is available in the company. So yes, we could continue to move forward slowly and do a lot with a little, but it would be a shame to stagnate when we have a lot of ambition and you support us in this direction!

Another option would be to call on investment funds but for our current company size, this would require too many compromises on our reasoned growth model.

In fact, we already know Patine’s dream investors. Those who understand our vision and share as much our love of clothes as our ecological awareness, who also dream of a conscious dressing room, an optimistic future and of truly having an impact... You are: our customers .es, our supporters, our friends!

#3. Can we find out more about Lita?

Of course ! As always, we carefully choose partners aligned with our commitments and Lita is no exception to the rule: it is a French company created in 2014 whose mission is to make investment in promising companies accessible to all. sustainable social and ecological innovations, where the logic of profitability and impact are complementary. It is an “equity crowdfunding” platform, meaning that in exchange for their financial participation, individuals can take a stake in the company they support. Everything happens online, the platform is intuitive and its activity is extremely regulated: Lita is a platform recognized and approved by the Financial Markets Authority.

To be able to carry out our fundraising on their platform, the Lita teams carried out an in-depth and demanding audit of the financial situation, the development plan and the environmental and social impact of Patine, then a committee validated our file .

#4. What am I supporting by becoming a shareholder of Patine?

  • You participate in the growth of a company with a mission
  • By becoming a Patine shareholder, you officially join the Patine Shareholders Club. Thanks to you, we are launching new projects and you will be consulted at each stage of the development of our company (we will give you more details a little further down, see #6 ).

  • Beyond us, you encourage and participate in a new model of finance and economy that is more responsible and transparent
  • By becoming a shareholder of Patine, you are making the conscious choice to invest an amount of your savings in a sustainable company with a positive social and environmental impact. You are thus participating in a revolution in the way businesses are financed and you are also participating in relaying a strong message: as a citizen, it is possible to take power over your savings and choose to invest them in projects that have meaning, a concrete impact and whose values ​​we share.

    #4bis. What information can I find on the Lita platform regarding financial opportunities and risks?

    • Lita explains the tax reductions associated with your investment
    Immediately, your investment allows you to benefit from a tax reduction of 25% of the amount invested: a way for the French State to encourage you to invest in the French economy and business creation. Thus, an investment of €500 allows you to benefit from a tax reduction of 125 euros. This reduction takes the form of a tax credit (= refund): when you complete your next tax return, you will indicate that you have invested in the capital of an SME in 2021 and you will receive your tax credit a few months later. late. This is the application of the IR-PME system (Madelin law): if that means something to you, great, otherwise don't panic, everything is explained right here: https://fr.lita.co/fr /pages/reduction-fiscale-ir (if you prefer that the Lita team explain it to you in person, it is possible, see #10 )

    • Lita reminds you of the opportunity for potential dividends and/or capital gains but also reminds you of the risks

    As a shareholder, you have shares in the capital of Patine (see #2bis) . As such, the potential financial performance of the company can also benefit you. Several scenarios are possible:

    • If the company continues to be profitable, as is the case today, part of the profits are returned to you in the form of dividends (the amount is calculated based on your percentage of shares in the company)
    • If the company is bought in a few years or if it raises new funds, you could potentially make a capital gain by reselling your shares.

    These different scenarios are not mutually exclusive and depend on the strategy that will be implemented by the company and for which you will be consulted because this is your role as a shareholder.

    Now that you know this, Lita reminds you that it is impossible for a business to guarantee these “financial success” scenarios. Any investment is, by nature, risky: the golden rule is therefore to only invest what you are prepared to lose. This way you don't put yourself in danger and there can only be good surprises. If you are used to investing, you already know about it and if this is your first time investing, now you know! Do not hesitate to contact Emilie from the Lita team if you have any questions (see #10 ), she will be able to inform you.

    The financial terms of the investment are detailed directly on the Lita website .

    #5. How does it work in practice?

    We are committed to ensuring that our fundraising is not just reserved for a few financial experts but is democratic, open to our community and on an online platform that makes things simple.

    Simply go to our Lita page , create your profile and select the amount you want to invest in Patine. It's a little more procedural than ordering a t-shirt (and fortunately) but it's quite simple I promise: you will need an identity document, recent proof of address and to answer a few questions (see #5bis ). At this stage, your “investment intention” is non-binding and changeable. It is only in phase 2 that you will be able to confirm the amount of your investment, sign the “shareholders agreement” and officially become a shareholder of Patine.


    To be able to validate your investment, your profile on Lita must be 100% complete. We have prepared a checklist for you, see #8. Do not hesitate to ask all your questions to the Lita team regarding the investment process and terms, they are there to answer you cf#10

    #5 bis. I am asked for a lot of personal information about the source of my income, the amount of my personal capital, etc. on Lita, should I communicate them? 

    This is actually part of the platform registration process. Here is Lita’s response on this subject: “this data is strictly confidential and declarative. We are not obliged to verify the data provided although they are obligatory, in accordance with the regulations in force defined by the Financial Markets Authority and reinforced by MIFID 2. In addition, Lita undertakes to keep confidential the information from investors and not to use or disclose any information for purposes other than the proper execution of its mission. Lita is bound by professional secrecy and does not resell your data to third parties.” Reassuring! Lita's objective is to provide the greatest precaution to future investors according to their personal situation by subsequently being able to advise them correctly (for example, not letting you invest more than 10% of your savings ). FYI, Patine does not collect any of the information provided during registration, we will only have the contact details of people who have actually invested at the end of the fundraising.

    #5 ter. I am a business angel, I am used to investing in companies: can we talk?

    Of course, write to us at invest@patine.fr if you wish to discuss with the Patine team and at meryl.attou@lita.co responsible for the BA club at Lita if you have more technical questions concerning the company and the file investment. We also invite you to consult our Lita page where you will find all our information and detailed investment file.

    #6. What is my role as a shareholder?

    We have always wanted to be a brand close to our community and with the Patine shareholders club, we are going even further. The mission we have set ourselves is ambitious: to make possible and offer a new brand model that reconciles fashion desires, humans and nature. The better we surround ourselves, the more we will succeed. 

    As a member of our Patine shareholder club, you will have privileged access to the life of our company: you will receive a dedicated newsletter in which we will transparently share our progress, our future challenges and we will consult you on our strategy . The Patine team remains the decision-maker but your opinion counts: in concrete terms you will be asked to vote for certain decisions (1 action = 1 vote). Throughout your new life as a Patine shareholder, you will have access to a dashboard on Lita on which you will receive Patine's half-yearly reports and will be able to participate in online general meetings. As we told you a little above, as a shareholder you also become our spokesperson and thanks to you, we hope that more and more people will be convinced by our new brand model.

    Finally, this role of shareholder and our relationship is contractualized in an official document called “shareholder agreement” to which you will have access during phase 2 of our fundraising and which you will be invited to sign before joining officially our Patina Shareholders Club.

    #7. I can't invest now but next month yes, will it be possible?

    Our fundraising is limited in time, it starts on 10/28/2021 and will end no later than 12/22/2021. Once it is closed, the objective is to be able to develop for several years without new fundraising, so our timing is now. If you can't invest, don't worry, we are already very grateful to you for supporting us, carrying us and carrying us forward, and nothing prevents you from sharing the opportunity, who knows, maybe there is- our future shareholders around you!

    #8. I have reserved my investment, what do I do now?

    First of all, thank you for believing in us! We have prepared a checklist for you so that you are ready to move on to phase 2 once the time comes:

    1. I ensure that my profile is completed and validated (to be on the starting blocks and be able to confirm your investment on D-day)
    2. I read the investment file rigorously when it becomes available
    3. I ask all my questions if I have any: I send an email to the Lita team ( contact@lita.co ) or I make a telephone appointment .
    4. I wait and remain alert until I receive an email from LITA.co to announce the opening of phase 2 called “collection” to confirm my investment
    5. The best is yet to come as they say :)

    For our part, we can't wait to add your name to our #proudPATiNEinvestor wall and we continue to work hard to launch Patine season 2. We can't wait, we hope you can too!

    #9. Will Patina change?

    Yes, better. We give ourselves the means to go far. It is precisely in order not to change the way we do things that we have chosen not to go through a traditional financing model but to have you as shareholders. Rather than changes, we promise you improvements and new projects while remaining faithful to our initial mission. Patine Forever Club!

    #10. I have a question not listed above

    For all questions directly concerning the Patine team, write to us at invest@patine.fr 

    The Lita team is also at your disposal for all your technical questions regarding investment methods: by telephone at +33 1 87 65 20 42, or by making an appointment with Emilie , campaigns and investor relations manager at Lita, or another available advisor .

    PS: will we be able to have an official badge? Visit cards ? A cap to flambé at dinners? It's being studied, we're putting it on the agenda for the next General Meeting of shareholders :)

    WE ARE HERE

    For all your questions about the investment process and terms:

    Lita Hotline : contact@lita.co or by phone

    For all your questions about Patina:

    Patine Hotline : invest@patine.fr or on the Instagram account we discuss in private message: @patine_levée

    Patina season 2, let's do it together!

    Press contact: presse@patine.fr - download the press release

    Sources of figures cited in the letter

    * 90% of Business Angels are men whose average age is 57 years old. You will be able to change this statistic with the Patine fundraising :) (Source the White Paper of Women Business Angels, March 2020
    **Only 263 funds out of 5000 rated are aligned with a 2 degree scenario, i.e. less than 5% and only 5% of funds exclude weapons from their investments (Source RIFT)