Onceit

Exclusive sales on designer brands at member-only prices

Shareholding: 25.6%
First Investment: February 2015

Onceit is an on-line daily deal site selling high-end designer fashion, predominantly in New Zealand. As one of New Zealand’s fastest growing online fashion sites, Onceit is here to deliver premium goods at insider prices.

From leading brands Stella McCartney to Sass&Bide, Ben Sherman to Citta, Mons Royal to Ecoya, Onceit focuses on looking after its merchants, as these higher quality designers enjoy the exclusivity and brand protection which comes with Onceit not selling lower end goods.

Onceit was launched in May 2010 with a staff of one and a dream to become a leading destination for online designer sales. Seven years down the track, Onceit has become a one-stop destination for more than 400 local and international brands.

Onceit’s growth has been very strong and they placed 7th in the 2013 Deloitte Fast 50 and 48th in the 2014 Fast 50. More recently, Onceit has grown to over $13 million in annual revenue and has a profitable high-growth business model. Onceit has paid dividends to Punakaiki Fund on four separate occasions since the first investment in February 2015. Onceit’s board includes Simon West, the former CEO of EziBuy and current CEO of Max Fashion. Onceit is based in Auckland.

Punakaiki Fund purchased its 25.62% shareholding in two tranche from the three founders; Jay Goodey, Keri Henare and Craig Boxall. Keri and Craig were the technical co-founders and today Craig is still active as a director.

Onceit In the News