Sustainable bedding maker Coyuchi takes its company public for the first time in its 31-year history with a Regulation A+ offering. The Regulation A+ process allows individuals to invest directly through Manhattan Street Capital with share prices starting at $4.50 and minimum investment of $450.
“The Reg A process allows for the retail investor to participate in investing in the companies that they’re attracted to,” said Eileen Mockus, Coyuchi CEO and president. “And you’re reaching a much broader audience than a lot of the opportunities to invest. So we were attracted to that, and we also feel like the people who know and love Coyuchi would be great investors for the business.”
Specializing in sustainably produced organic cotton bedding, Coyuchi has built a solid following since launching in 1991. And over the past couple of years, the company has seen exponential growth, with $33.3 million in net sales in 2021, 26 percent year-over-year sales growth, and a 35 percent repeat purchase rate.
Mockus said that upward trajectory made the decision to go public now feel right.
“We’ve been profitable, we’ve been growing and looking what’s possible next,” Mockus said. “It’s about where the business is at, and we have an opportunity with consumers being more interested in what Coyuchi is doing.”
In 2017, Coyuchi launched its Renewed initiative, partnering with the Renewal Workshop—an Oregon-based company that prepares upcycled products for a second use. The program allows Coyuchi to renew and resell its single-fiber, organic GOTS-certified cotton from its recycled bedding.
Mockus said the investment from the Regulation A+ offering—which can reach up to around $20 million over 12 months—will allow Coyuchi to further its mission of sustainability and circularity, as well as expand into new categories and further into physical retail. The company currently has one store in California.
“We see the timing as right because we have our sustainability goals, we’ve set climate goals with our climate council, as well as our ongoing projects in regenerative agriculture and circular initiatives,” she said. “We want to be able to further those initiatives, and we do that with growth of the business.”