Lit Cosmetics Ltd

by JAMES PERKS


LENDRS

27

FUNDED

$50000 (100%)

DAYS LEFT

Ended

Our Story


From Alberta to Iceland: How Calgary’s Lit Cosmetics is bringing glitter to the masses

 

Oprah wearing Lit for the movie "A Wrinkle in Time" To say that Jodie and James Perks have an interesting story to tell about their business would be quite an understatement. She’s a beauty school dropout. He’s spent years competing in and working with ski racing and ski cross, at an Olympic level. She got the idea for Lit Cosmetics while bartending in Calgary. He never imagined he’d have a business card that says “Glitter Maintenance” as a job title.

 

OUR STORY

 

In order to understand how the husband and wife team behind Lit Cosmetics started “glittering the world,” you need to go back to the early 2000s. Jodie was bartending in Calgary and was having trouble finding a quality glitter makeup. The products on the market were messy and difficult to use, so Jodie decided to develop her own. She wore her glitter makeup for years and found that more and more people were asking her about the product and where they could get it. In 2002, the Perks decided to launch Lit Cosmetics.

For the first years of their business, the Perks operated retail storefronts in the trendy Calgary neighbourhoods of Uptown 17th Avenue and Kensington. During the brick-and-mortar stage of the business, the Perks continued to refine and develop their line of glitter products while learning about the types of products that sold best. They also realized that the market for glitter extended far beyond Calgary and Alberta, and in 2005, moved the business online.

Lit Cosmetics now ships worldwide daily, working with wholesalers in unconventional markets such as Iceland, Ireland and India. From Bloomingdales in New York to small cosmetics stores in Barbados, their product is available in retail stores across the world. They also partner with Cirque du Soleil to help their performers get “glitzed.”

Lady Gaga 2018 GrammysLit Cosmetics currently offers a wide range of loose glitter makeup, metallic eye colours called Lit Metals, as well as glitter bases (glue), brushes, tools and 3D “glitter decor.” Their latest product under development is called Glitter Camo - an easy-to-apply, one-step blend of the glitter and glue.

Lit Cosmetics is looking to raise $100,000 on the ATB LendR platform. This loan would help the company:

 

  • Increase cash flow to allow Lit Cosmetics to continue fulfilling orders, while meeting the large minimum volumes required by wholesalers

  • Finance part of the first order of Glitter Camo (approx 9,000 units) and pay for a second order.

 

Team


James Perks

As the head of “Glitter Maintenance” at Lit Cosmetics, James oversees all shipments, order questions, and operations. The born-and-raised Calgarian spent years as a competitive ski racer, and remains involved with the Alpine Canada community at the coaching and technical level. The people skills he developed in his sporting life have transferred into his current business, and both he and Jodie pride themselves on being genuine, down-to-earth people - with a little extra sparkle, of course.

Jodie Perks

Jodie was born and raised in Drayton Valley, Alberta. A self-proclaimed “beauty-school dropout,” Jodie works closely with the company’s cosmetic formulators in L.A. to develop and revise Lit’s glitter products. She and her husband, James Perks, operate Lit Cosmetics out of Calgary, and spend much of their time travelling the world to different cosmetic trade shows, working to spread the Lit brand even further.

Shelley Mantei

Shelley is helping Lit create a brand’s strategy, refreshing an existing identity. Analytics and Project Management are the main focus.

Daniel Kinnill

SEO and SEM services

Lauren Shurney

Lauren is one of the pioneers in "the Social Media" since 2005. Lit contracts Lauren to lead our Social Media profiles and engage with influential makeup artists to spread Lit Brand.

Lending Profile


About the Business

Lit Cosmetics Ltd.

1811 4 Street S.W. Suite 466

Calgary, Alberta

T2S 1W2

403-616-7740

 

Key Personnel

 

Jodie Perks

Jodie was born and raised in Drayton Valley, Alberta. A self-proclaimed “beauty-school dropout,” Jodie works closely with the company’s cosmetic formulators in L.A. to develop and revise Lit’s glitter products. She and her husband, James Perks, operate Lit Cosmetics out of Calgary, and spend much of their time travelling the world to different cosmetic trade shows, working to spread the Lit brand even further.

James Perks

As the head of “Glitter Maintenance” at Lit Cosmetics, James oversees all shipments, order questions, and operations. The born-and-raised Calgarian spent years as a competitive ski racer, and remains involved with the Alpine Canada community

at the coaching and technical level. The people skills he developed in his sporting life have transferred into his current business, and both he and Jodie pride themselves on being genuine, down-to-earth people - with a little extra sparkle, of course.

Jodie Perks is 100% owner of Lit Cosmetics Ltd.

 

Description of Business

 

Lit Cosmetics is a glitter focused cosmetic company based out of Calgary. Despite the Alberta-roots their company is truly international in their reach. Lit Cosmetics now ships worldwide, working with wholesalers as far reaching and varied as Iceland, Ireland and India. From Bloomingdales in New York to small cosmetics stores in Barbados, their product is available in retail stores across the world. They also partner with Cirque du Soleil to help their performers get “glitzed.”  Lit was recently worn by big names like Oprah in “A Wrinkle in Time”, and Lady Gaga at the 2018 Grammy Awards.
They currently offer a wide range of loose glitter makeup, metallic eye colours called Lit Metals, as well as glitter bases (glue), brushes, tools and 3D “glitter decor.” Their latest product under development is called Glitter Camo - an easy-to-apply, one-step blend of the glitter and glue. 

 

Use of the Funds

 

Lit Cosmetics Inc. is looking to raise $100,000 through ATB LendR to expand the capacity of the company. The funds will be used to:

 

  • Increase cash flow to allow Lit Cosmetics to continue fulfilling orders, while meeting the large minimum volumes required by wholesalers

  • Finance part of the first order of Glitter Camo (approx 9,000 units) and pay for a second order.

 

Terms of LendR Loans

 

Loans will have a term of 2 years (24 months), beginning after the loan is successfully funded. Lit Cosmetics Ltd. will repay the principal plus 15% interest, calculated as a blended loan. Lit Cosmetics Ltd. will make monthly payments of 1/24 the total repayment amount. Lit Cosmetics Ltd. may not prepay the whole or any part of the principal sum under the Loan without ATB’s written approval, which may, at the sole option of ATB, be conditional on paying a prepayment privilege equal to 3 months’ interest payments.

 

 

Risk Factor

 

Lit Cosmetics Ltd. has been in business for sixteen years. There are financial, operational and market risks for any business. Some risks that apply specifically to this business include:

  • Supplying wholesalers can be challenging to manage. If a product is popular, the minimum order sizes can be a challenge for a business to finance.

  • Lit Cosmetics operates on USD, so fluctuations in currency values is something that needs to be managed.

  • With a small staff base, it is important to have quality, knowledgeable staff to ensure consistency in the business.

Certificate

 

This lending profile does not contain a statement that, in a material respect and at the time and in light of the circumstances in which it is made, is misleading or untrue and it does not fail to state a fact that is required to be stated or that is necessary to make a statement not misleading.

 

Certified as of: June 12, 2018

 

By: Jodie Perks

 

 



Launched:
Funding Ends: 21-Nov-2018
Amount Required: $50000
Term: 24 months
Interest Rate: 15%

Campaign Funded

Campaign by

Lit Cosmetics Ltd

https://www.litcosmetics.com/
Calgary