Company type | Private |
---|---|
Industry | Fancy dress/costume |
Founded | 2009[1] |
Founder | Ali Smeaton, Fraser Smeaton, Gregor Lawson |
Headquarters |
Edinburgh, Scotland , United Kingdom |
Key people | Smeaton, Smeaton, Lawson |
Products | Morphsuits, Morphsuits Kids |
Revenue | £4.5m [2] |
Owner | Smeaton, Smeaton, Lawson |
Number of employees | 22 direct |
Website |
www |
Morphsuits is a company in Edinburgh, Scotland that distributes branded spandex costumes that cover the entire body, a brand of zentai suit. Offering over 80 different designs, it was founded by brothers Ali and Fraser Smeaton and their flatmate Gregor Lawson. [2]
It later added children's sizes, [2] [3] called MorphKids, and female-targeted accessories. [2]
It is a division of AFG Media, which includes menswear line Foul Fashion and golf wear line Royal & Awesome. [4] [5]
According to the founders' account, they were inspired to create the company after a one-color costume party in Dublin, to which a friend of the founders was wearing a zentai bodysuit. At the event, the friend became somewhat of a celebrity, being bought drinks and posing for hundreds of pictures. [3] After researching the fancy dress market, Smeaton, Smeaton, and Lawson invested £1,000 each. [5] The original corporate website cost $300. [3]
Beginning in May 2009, [5] shipping of the first batch of 200 costumes was done from their flat. [3] [5] Balancing their day jobs and the company meant "a lot of 2 a.m. finishes" while running their business. As of August 2011, outsourcing had raised their indirect staffing to 200. [3] As of late 2012, suits were manufactured in Shanghai. [5]
The company received a boost to its sales when the 2009 British Lions tour of South Africa, at which eight fans wore red Morphsuits, was covered extensively by sports journalists and photographers. [6]
Many early mainstream appearances of similar suits in North America were not their brand: The Green Men, two fans of the Vancouver Canucks NHL team, used Super Fan Suits, [7] as do hip-hop group The Body Poets, [8] [9] while appearances on It's Always Sunny in Philadelphia [10] predate either brand's founding.[ improper synthesis?]
As of August 2011, there were 40 varieties, [3] and 50 as of September 2011. [6] MorphKids, a child's-sized line, was launched in the United States before any other market. The company sold 35,000 units in 48 hours. [11] Around Halloween 2012, a psychologist noted increased confidence and social skills in children wearing the outfits, and an "overall calming effect" in children with autism. [12] As of April 2013, the company stated it expected MorphKids to outstrip the parent brand four-fold. [4] In October 2012, Morphsuits launched their first licensed design, featuring Saban's Mighty Morphin' Power Rangers; [13] the company claims the costumes were the "best-selling item" in their history. [14] With their investment from BFG, they hoped to pursue the Spider-Man license, deeming licenses "fundamental to the business's future success." [5] In 2013 Morphsuits added "Animal Planet" Morphsuits, including a Vampire Bat with fabric wings connected to the arms, and a Cobra with a neck frill. Other products include the head-only lycra Morphmask and Megamorph, an inflated suit with lycra over the head, hands, and feet. [5]
As of May 2011, it claimed to be the world's largest fancy dress brand. [15]
As of 2011, Gregor Lawson had worked in brand management for eight years. Trained with " FMCG marketing" (fast-moving consumer goods) at Gillette and later Procter & Gamble, he led marketing on Pantene, Pringles, and Gillette. He left P&G in July 2010. [15] Lawson is brother of rugby union player Rory Lawson, son of rugby union player Alan Lawson, and grandson of rugby union commentator Bill McLaren. [6]
In their first year, the company sold 20,000 costumes, bringing in £1.2 million. [2] Between January and October 2010, the company shipped 10,000 units to Canada. [16] In the 2010-2011 financial year, they did £4.5m in sales. [2] They expect £10.5m in revenue in the 2011-2012 fiscal year. [2] In October 2010, Morphsuits gave 2011 estimates of £6 million; by July 2011, they told the BBC of a year-end estimate of £10 million. [2] The company sold an initial order of 100,000 Morphsuits to retail chain Party City. [2] [6] The company expect sales of £309,980 in October 2012. [17]
Fiscal year | Units sold | Revenue |
---|---|---|
2009–10 | 50,000 [2] | £1.2m [2] |
2010–11 | 250,000 [2] | £4.5m [2] or £4.2m [18] |
As of 2011, the partners had no direct employees, with all roles being outsourced. As of summer 2011, that included a Chinese manufacturer, warehouses in the United States, United Kingdom, and Australia, and a customer contact centre in Fife. [2] In 2012, Mishal Verjee was added as Marketing Director. [13] One September 2012 article cited AFG in employing 21 staff at five sites worldwide, but did not clarify if they were direct or outsourced. [5]
The founding entrepreneurs have spoken publicly about their dislike for UK tax rules, which make "company owners pay 40 percent on any sum taken out in dividends above £35,000, against only 10 percent if they were to sell their business." They have suggested incentives to expand operations would be more beneficial than "inducements" to sell their company. [6] The company received overtures from private equity investors in 2011, since their Ernst & Young Entrepreneur of the Year Awards nomination in Scotland, that year; they have suggested the business has kept them too busy to consider any of the offers. [6]
In February 2012, the company (as AFG Media) received a £600,000 loan from Barclays Corporate. [19]
In July 2012, Business Growth Fund invested £4.2 million in AFG, [4] the size of its stake was unannounced, but their firm generally takes between 10% and 40% of the share capital. [20] The investment was meant to help product development, the MorphKids line, and develop supply chain as the company looks to expand in the US, Europe, Mexico, Russia, Japan and China. [4] [20] Ralph Kugler was introduced as chairman of the company's board, [4] [20] and Duncan Macrae also added to the board. [20]
They have a low rate of product return, at just 1%, which they credit to the limited SKU ( stock-keeping unit), allowing them to ensure consistent quality of the product. [3]
At least some products are sourced through Alibaba. [21] [22]
Gregor Lawson has spoken at seminars about technology and business, about their use of Facebook and e-commerce. [18] Much of their marketing strategy is based on fans' ideas, a process Fraser Smeaton calls "scrum marketing"; suit designs, potential sales outlets, and competitions have all been dictated by its followers. [1]
There are regional sales differences: in the United Kingdom, the product is considered year-round, with a small jump in sales near Halloween. In the United States, sales are much more highly focused at the Halloween season. [3] The company runs 13 localized e-commerce websites. [18]
Black is the company's most popular colour. [3] The majority of Morphsuits' customers are men, but the company hopes that a new morphsuit model with a built-on tutu will expand female sales. [3]
The brand has tried to distance itself from the term zentai, and the concept of fetish usage. [16] Being one of the earliest brands to court a general market, the terms "Morphsuits" and "morphs" are regularly applied to events related to any sort of zentai suit. Their term risks becoming a genericized trademark in the process; one New Zealand newspaper refers to a competing brand, Jaskins, as a "one of the main online morphsuit brands." [10]
For a while, the website's FAQ page listed the suits as legal globally. This response either ignored or overlooked Anti-mask laws, such as those in France.
Company type | Private |
---|---|
Industry | Fancy dress/costume |
Founded | 2009[1] |
Founder | Ali Smeaton, Fraser Smeaton, Gregor Lawson |
Headquarters |
Edinburgh, Scotland , United Kingdom |
Key people | Smeaton, Smeaton, Lawson |
Products | Morphsuits, Morphsuits Kids |
Revenue | £4.5m [2] |
Owner | Smeaton, Smeaton, Lawson |
Number of employees | 22 direct |
Website |
www |
Morphsuits is a company in Edinburgh, Scotland that distributes branded spandex costumes that cover the entire body, a brand of zentai suit. Offering over 80 different designs, it was founded by brothers Ali and Fraser Smeaton and their flatmate Gregor Lawson. [2]
It later added children's sizes, [2] [3] called MorphKids, and female-targeted accessories. [2]
It is a division of AFG Media, which includes menswear line Foul Fashion and golf wear line Royal & Awesome. [4] [5]
According to the founders' account, they were inspired to create the company after a one-color costume party in Dublin, to which a friend of the founders was wearing a zentai bodysuit. At the event, the friend became somewhat of a celebrity, being bought drinks and posing for hundreds of pictures. [3] After researching the fancy dress market, Smeaton, Smeaton, and Lawson invested £1,000 each. [5] The original corporate website cost $300. [3]
Beginning in May 2009, [5] shipping of the first batch of 200 costumes was done from their flat. [3] [5] Balancing their day jobs and the company meant "a lot of 2 a.m. finishes" while running their business. As of August 2011, outsourcing had raised their indirect staffing to 200. [3] As of late 2012, suits were manufactured in Shanghai. [5]
The company received a boost to its sales when the 2009 British Lions tour of South Africa, at which eight fans wore red Morphsuits, was covered extensively by sports journalists and photographers. [6]
Many early mainstream appearances of similar suits in North America were not their brand: The Green Men, two fans of the Vancouver Canucks NHL team, used Super Fan Suits, [7] as do hip-hop group The Body Poets, [8] [9] while appearances on It's Always Sunny in Philadelphia [10] predate either brand's founding.[ improper synthesis?]
As of August 2011, there were 40 varieties, [3] and 50 as of September 2011. [6] MorphKids, a child's-sized line, was launched in the United States before any other market. The company sold 35,000 units in 48 hours. [11] Around Halloween 2012, a psychologist noted increased confidence and social skills in children wearing the outfits, and an "overall calming effect" in children with autism. [12] As of April 2013, the company stated it expected MorphKids to outstrip the parent brand four-fold. [4] In October 2012, Morphsuits launched their first licensed design, featuring Saban's Mighty Morphin' Power Rangers; [13] the company claims the costumes were the "best-selling item" in their history. [14] With their investment from BFG, they hoped to pursue the Spider-Man license, deeming licenses "fundamental to the business's future success." [5] In 2013 Morphsuits added "Animal Planet" Morphsuits, including a Vampire Bat with fabric wings connected to the arms, and a Cobra with a neck frill. Other products include the head-only lycra Morphmask and Megamorph, an inflated suit with lycra over the head, hands, and feet. [5]
As of May 2011, it claimed to be the world's largest fancy dress brand. [15]
As of 2011, Gregor Lawson had worked in brand management for eight years. Trained with " FMCG marketing" (fast-moving consumer goods) at Gillette and later Procter & Gamble, he led marketing on Pantene, Pringles, and Gillette. He left P&G in July 2010. [15] Lawson is brother of rugby union player Rory Lawson, son of rugby union player Alan Lawson, and grandson of rugby union commentator Bill McLaren. [6]
In their first year, the company sold 20,000 costumes, bringing in £1.2 million. [2] Between January and October 2010, the company shipped 10,000 units to Canada. [16] In the 2010-2011 financial year, they did £4.5m in sales. [2] They expect £10.5m in revenue in the 2011-2012 fiscal year. [2] In October 2010, Morphsuits gave 2011 estimates of £6 million; by July 2011, they told the BBC of a year-end estimate of £10 million. [2] The company sold an initial order of 100,000 Morphsuits to retail chain Party City. [2] [6] The company expect sales of £309,980 in October 2012. [17]
Fiscal year | Units sold | Revenue |
---|---|---|
2009–10 | 50,000 [2] | £1.2m [2] |
2010–11 | 250,000 [2] | £4.5m [2] or £4.2m [18] |
As of 2011, the partners had no direct employees, with all roles being outsourced. As of summer 2011, that included a Chinese manufacturer, warehouses in the United States, United Kingdom, and Australia, and a customer contact centre in Fife. [2] In 2012, Mishal Verjee was added as Marketing Director. [13] One September 2012 article cited AFG in employing 21 staff at five sites worldwide, but did not clarify if they were direct or outsourced. [5]
The founding entrepreneurs have spoken publicly about their dislike for UK tax rules, which make "company owners pay 40 percent on any sum taken out in dividends above £35,000, against only 10 percent if they were to sell their business." They have suggested incentives to expand operations would be more beneficial than "inducements" to sell their company. [6] The company received overtures from private equity investors in 2011, since their Ernst & Young Entrepreneur of the Year Awards nomination in Scotland, that year; they have suggested the business has kept them too busy to consider any of the offers. [6]
In February 2012, the company (as AFG Media) received a £600,000 loan from Barclays Corporate. [19]
In July 2012, Business Growth Fund invested £4.2 million in AFG, [4] the size of its stake was unannounced, but their firm generally takes between 10% and 40% of the share capital. [20] The investment was meant to help product development, the MorphKids line, and develop supply chain as the company looks to expand in the US, Europe, Mexico, Russia, Japan and China. [4] [20] Ralph Kugler was introduced as chairman of the company's board, [4] [20] and Duncan Macrae also added to the board. [20]
They have a low rate of product return, at just 1%, which they credit to the limited SKU ( stock-keeping unit), allowing them to ensure consistent quality of the product. [3]
At least some products are sourced through Alibaba. [21] [22]
Gregor Lawson has spoken at seminars about technology and business, about their use of Facebook and e-commerce. [18] Much of their marketing strategy is based on fans' ideas, a process Fraser Smeaton calls "scrum marketing"; suit designs, potential sales outlets, and competitions have all been dictated by its followers. [1]
There are regional sales differences: in the United Kingdom, the product is considered year-round, with a small jump in sales near Halloween. In the United States, sales are much more highly focused at the Halloween season. [3] The company runs 13 localized e-commerce websites. [18]
Black is the company's most popular colour. [3] The majority of Morphsuits' customers are men, but the company hopes that a new morphsuit model with a built-on tutu will expand female sales. [3]
The brand has tried to distance itself from the term zentai, and the concept of fetish usage. [16] Being one of the earliest brands to court a general market, the terms "Morphsuits" and "morphs" are regularly applied to events related to any sort of zentai suit. Their term risks becoming a genericized trademark in the process; one New Zealand newspaper refers to a competing brand, Jaskins, as a "one of the main online morphsuit brands." [10]
For a while, the website's FAQ page listed the suits as legal globally. This response either ignored or overlooked Anti-mask laws, such as those in France.