Punakaiki Fund has invested into Onceit, for a holding of a little over 15%. Onceit sells high-end New Zealand designer fashion at insider prices.
Onceit is well known to many, especially in their primary target market of women between 18 and 35 in New Zealand. There are a large and growing number of active members and you can join them at onceit.co.nz.
Onceit’s growth has been strong – they were 7th in the 2013 Deloitte Fast 50, 48th in the 2014 Fast 50, and are still growing quickly in 2015.
The Founder and CEO of Onceit is Jay Goodey, and he and the team have consistently delivered the goods for their customers. This is a business focused on value, and with strong supplier relationships along with continuously improving packing and shipping processes Onceit consistently delivers on low prices for high quality goods.
We were, to be fair, insiders on this investment. Lance has been a director of Onceit for much of the last year, and provided some help before that. We’ve been impressed with Jay and the team’s professionalism, the growth and maturity of the business, and we see plenty of exciting times ahead.