KALYX Technologies' women's activewear is off to a good start, but needs some refining
The Company: Kalyx Technologies, Venice, Calif.
The Founder: Kimberly Cayce
The Pitch: Founded by a former professional golfer, Kalyx Technologies makes it possible for female athletes, 56% of whom experience exercise-related pain in their breasts, to work out comfortably. Kalyx has created the world's most advanced line of activity-specific sports bras. The $31 billion women's activewear industry is mature, but the niche sports bra market is dominated by a handful of complacent leaders whose products are stale. Kalyx will sell products through its e-commerce site, and to retailers through manufacturers' reps. The company has an advisory board of experienced CEOs from the apparel industry. Kalyx is seeking $750,000 in equity capital.
Phil Giesler, Innovation Director, Physic Ventures, San Francisco
Cayce's pitch is interesting, and "smart" clothing is hot, says Giesler. But the pitch needs more details about the science behind the bra. "She should talk about the technological 'wow' that enables this and will take this area by storm," he says. While there's demand for products that address women's fitness needs, Cayce needs to persuade investors that her competitive edge isn't easily copied. A scattershot approach to sales could expose her to knock-offs. She should limit distribution to a few key speciality sports retailers, such as Lululemon Athletica, "and see how volumes develop," he says.
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