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Modern Picnic isn't accepting new investments

Modern Picnic’s deadline was October 19, 2022

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Modern Picnic

Stylish, insulated lunchboxes for women
Women Founders B2C Apparel & Accessories
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Featured image of Modern Picnic
$102,250
Raised
158
Investors
Successfully funded and closed on October 19, 2022.
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Closed on October 19, 2022. Information may not be up-to-date. Campaign closed on October 19, 2022. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Impact Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Modern Picnic, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Modern Picnic Crowd SAFE Modern Picnic Nominee Crowd SAFE.pdf Modern Picnic Form C.pdf
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Hear from some of the 158 people reserved or invested in Modern Picnic


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Highlights


$1M+ revenue
Company had over $1M in revenue in the past 12 months
Venture-backed
Company is backed by a venture capital firm
  • Doubled and tripled revenue each year since launch to $3.5M+ in revenue
  • As seen in: Vogue, Harper’s Bazaar, Oprah, The New York Times + more
  • Wholesale expansion to Saks Fifth Avenue in 2022
  • Tripled business during COVID-19 and the societal shift to work from home
  • Strong YTD repeat customer rate: 19%
  • Strategic brand partnerships: American Express, S'well + more
  • Impressive advisor / investor board

Problem


The lunchbox industry is outdated and underserved for the modern woman

Bringing lunch to work is greener, cheaper, and healthier. The lunchbox industry is filled with options for little kids and men; but there's none for women who want to look good and do good. 


Solution


Modern Picnic:

One of the first to market stylish, insulated, vegan leather lunchboxes for women

We are a community-driven brand creating multi-purpose products that have become not just an accessory in women's closets, but an essential. We provide women with a chic, functional and sustainable alternative to the traditional lunchbox we all know (and hate). 

We set out to be the female, cosmopolitan version of Yeti (currently valued at over $5B).

Product


Strategic product assortment 

Varying in price point, functionality, and versatility—all with insulated interiors and vegan leather exteriors

Traction


Where MP is today

What makes Modern Picnic so special is not just our product, but also where we've been and the community we've built. We started selling DTC as of May 2018, and have since doubled and tripled gross revenue every year. We’ve done over $3M cumulative gross revenue from 15,000 units sold—all while maintaining an incredibly lean team of only 4 full time employees. 

We have hundreds of customer testimonials on our website. 

We've been featured in over 300 press hits in every major publication, including Forbes, The New York Times, The Today Show, & Vogue, amongst others. 


We've also built strategic relationships with other like minded brands, including Splendid Spoon, Lively, S'well, American Express and more. Last year, American Express chose MP as one of 10 businesses to represent for a small business initiative.

We've built a program of 600+ brand ambassadors from across the country. Our brand ambassadors have a $0 acquisition cost, meaning we do not pay anything to get our ambassadors to join our program—it is 100% organic. Our ambassadors are a powerful acquisition engine; and more importantly, they are a community-first group of women made to last.

Customers


Demographic representation

Over the past few years, we have been amazed by the varying professions, interests, ages, demographics, and more that our customers represent. Whether she is a vegan who cares about what her products are made out of, a new mom who needs a way to store her breast milk, or a healthcare worker who simply does not have time to leave in the middle of the day to get food—Modern Picnic is for her. 

The top MP customers are female, living in cities, and ages 18–54; all with mid-to-high discretionary income, valuing the attainable luxury price point of our product. 

Business model


3-dimensional
distribution strategy

1. E-Commerce:

We started selling DTC as of May 2018, and have since doubled and tripled gross revenue every year. We’ve done over $3M cumulative gross revenue from 15,000 units sold—all while maintaining an incredibly lean team of only 4 full time employees. While we do especially well during the holiday season, we’ve shown  consistent growth during off-season months, demonstrating strong product market fit and traction. It’s also worth noting we’ve been able to double and triple our business across the two years hit hardest by COVID and the societal shift to work from home—showing that our functionality and brand value goes way beyond the “work lunchbox." 

On e-commerce, paid ads have historically been a major form acquisition for us. However, in 2021 we have invested in diversifying our marketing mix. We created a sense of urgency around getting into more channels and implementing new tactics and tests. In 2021 alone, we introduced an affiliate program, Tik Tok advertising, SMS marketing, SEO marketing, & more—all seeing incredibly strong early traction. 

2. Wholesale: 

We work closely with Gilt & Dillards, and are excited to have just launched in Saks in April 2022. We strongly believe that with funding and a dedicated resource, Modern Picnic will be able to accelerate our wholesale channels. We project that wholesale will account for 10% of our 2022 sales. 

3. Retail: 

We are able to further foster and establish community footholds by holding yearly pop ups and events. These pop-ups have allowed us to really connect one-on-one with both customers and influencers to further grow our brand.

—

E-commerce product unit economics

On e-commerce, we've maintained strong product margins of 80-90%, that will continue to improve as we scale.

Market


TAM: Cross section of global food container market ($280B) and global accessories market ($500B)

SAM: $30B

SOM: 75M working women in the US who live in metro areas * our Customer Lifetime Value of $175 = $13B

Competition


Vision and strategy


Where we’re going

Modern Picnic will start expanding outside of
the lunchbox through 3 Pillars of Growth

Product: Part of Modern Picnic’s next phase of growth will be focused on launching a best in class product portfolio of smart storage solutions—universally carried products like food storage containers ($250B+ market), backpack (launched 3.14), hard-shelled coolers, and more.

Partnerships and Licensing:  We have been committed to strategic brand partnerships, but are now ready to talk licensing deals. S'well has done an amazing job with licensing and distribution, appearing in every “back to work” gift, conference, and more. We want to do the same with Modern Picnic.

Distribution:  We started as a DTC brand in an effort to prove the concept, build our brand equity, and tighten our supply chain. We are now ready to open up into strategic wholesale partnerships, and leverage the distribution and manpower of retailers.

Funding


$900k financing to date

Raised through our Friends +
Family Round in 2020–2021


Strategic Investors/Advisors

  • Backstage Capital
  • Alexandra Wilson: Co-Founder, Gilt/Glamsquad
  • Michelle Grant: CEO/Founder, Lively
  • Monica Royer: CEO/Founder, Monica + Andy
  • Michael Setola: CEO/President, Tharanco Lifestyles
  • Michael Cline: Founder, Fandango

Impact


Rooted in giving back

Modern Picnic has made a meaningful and quantifiable impact in the work we do, partnering with leading global organizations, including:

  • PETA: Long-standing PETA Business Partners. All products are vegan-friendly and reusable to minimize plastic and paper waste | 2018-Present

  • The Pink Agenda: Launched annual limited edition pink croc collection for Breast Cancer Awareness Month. 20% of proceeds are donated | October (annually)

  • Trevor Project: Partnered with influencer, Zac Mathias, to create a Pride collection, donating 20% of proceeds to Trevor Project | June 2021

  • I Am a Voter: Created a limited edition “VOTER” hand-painted collection. Donated 20% of sales to assist election program and voter turnout | November 2020

  • Presidents’ Day: Launched custom “I am Speaking” products to honor Vice President Kamala Harris | February 2020

  • Dress for Success: Promoted educational programs for women and youth during Women’s History Month | March 2021

Founders


Ali Kaminetsky

Founder & CEO

Ali Kaminetsky began the entrepreneurship journey when she started working at Macy’s one week after graduation. She would bring her lunch to work everyday because of how much faster, cheaper and healthier it was. However, she quickly realized she did not have a chic or functional way to do so. When she googled “lunchbox” she saw options for little kids and men, but nothing for women who wanted to look good or do good.

It was clear the outdated lunchbox needed a makeover, and from there, Modern Picnic was born. Kaminetsky launched MP with no prior experience, connections, funding or resources. Her first prototype was made out of a Whole Foods paper bag, showcasing Kaminetsky’s commitment and innovation (photo available upon request).

Kaminetsky's leadership began when she was young and shone during her time at Lehigh University, where she served as the captain of the Division 1 Tennis Team. Shortly after graduating, and starting Modern Picnic, she was accepted into an investment readiness accelerator program, Project Entrepreneur, a program catered toward founders ready to raise and scale. She then went on to complete the Start-Up Leadership Program Accelerator Program. 

Kaminetsky also recently participated in the Dream Ventures Accelerator Program. Part of the program included competing in a pitch competition, which she won on behalf of Modern Picnic. Judges included Imaginary Ventures, Female Founders Fund, Inspired Capital, Ali Wyatt, amongst others. 

Kaminetsky has additionally been recognized as the "Forbes Next 1000"—a list made up of country's leading entrepreneurs redefining what it means to build and run a business today.

Since launching Modern Picnic, Ali has grown the company exponentially—and is now ready and excited to take the business to the next level.

Deal terms


Valuation cap

$10,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

20%

If a trigger event for Modern Picnic occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$150

The smallest investment amount that Modern Picnic is accepting.
Learn more

Maximum investment

$250,000

The largest investment amount that Modern Picnic is accepting.
Learn more

Funding goal

$1.07M

The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Modern Picnic needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

Nominee Lead

Chief Executive Officer of the Company (currently Alexandra Kaminetsky)

Will direct the Nominee on certain matters like voting, amendments and conversions affecting the security.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Modern Picnic, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Modern Picnic Crowd SAFE Modern Picnic Nominee Crowd SAFE.pdf Modern Picnic Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Modern Picnic.
Invest
$500
Receive
  • 30% one-time discount
Invest
$1,000
Receive
  • Your own 20% investor discount code for your friends & family
  • Modern Picnic Hat
  • Investor Updates
  • All prior
Invest
$5,000
Receive
  • Free Modern Picnic product of your choice
  • All prior
Invest
$10,000
Receive
  • 1-1 30 min call with Ali / Founder
  • Modern Picnic merch package (sweatshirt, hat, swell bottle)
  • Early access to new product releases
  • All prior
  • Limited (50 left of 50)
Invest
$25,000
Receive
  • Your choice of any 3 Modern Picnic products
  • Invitations to special events
  • All prior
Invest
$50,000
Receive
  • Dinner with founder + team in NYC
  • All prior
  • Limited (10 left of 10)
Invest
$100,000
Receive
  • In-person catered rooftop event in NYC for 25 people hosted by MP
  • All prior
  • Limited (5 left of 5)

About Modern Picnic

Legal Name
Modern Picnic, Inc.
Founded
Dec 2020
Form
Delaware Corporation
Employees
2
Website
modernpicnic.com
Social Media
Headquarters
Google Map location of of Modern Picnic
400 Park Avenue South , New York, NY
Headquarters
400 Park Avenue South, New York, NY, United States 10016

Modern Picnic Team
Everyone helping build Modern Picnic, not limited to employees

Profile picture of Ali Kaminetsky
Ali Kaminetsky
Founder
Profile picture of Amber Carlson
Amber Carlson
Operations/Community Manager
Profile picture of Caeley Perrine
Caeley Perrine
Social Media Associate
Profile picture of Patrick McCarthy
Patrick McCarthy
CFO
3 more team members
Ali Kaminetsky
Founder
Amber Carlson
Operations/Community Manager
Caeley Perrine
Social Media Associate
Patrick McCarthy
CFO

Press

13 bento boxes and lunch bags perfect for heading back to...
TODAY.com TODAY.com
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Sep 10, 2021

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This Insulated Tote Bag Is the 'Perfect Size' for Commute...
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Aug 26, 2021

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From Portable Chairs to Umbrellas, the Best Beach Accesso...
Vogue
·
May 20, 2021

Though an ocean view is calming and the sound of waves crashing is therapeutic, you'll still need a few other beach acces...

I Had A Modern Picnic With This Brand's Chic Purse-Style ...
StyleCaster
·
Jul 14, 2020

Scroll To See More Images Weird fact about me: I've spent the last year casually perusing thrift stores and antique shops...

Modern Picnic is the Chic Alternative to Lunch Boxes for ...
AlleyWatch
·
Jul 30, 2019

No matter how old you are, it seems no one can truly outgrow the lunchbox, and Modern Picnic is the contemporary lunch ba...

Modern Picnic's Luncher Will Replace The Ugly Paper Bag Y...
Bustle
·
Jun 17, 2019

If you have ever ruined your workday outfit by throwing your lunch into a plastic bag while rushing out the door, then yo...

This Lunchbox Inspired Me To Start Packing My Lunch Again
Nylon
·
Jun 10, 2019

Friends don't let friends miss out on all the cool, under-the-radar things they know about, like which little-known beaut...

10 Lunch Boxes for Heading Back to the Office
Food Network

Lunchboxes aren't just for kids! As more offices are opening back up safely, it's key to have a place to store your lunch...

Make Every Lunch Break A Stylish, Chic Picnic This Nation...
Guest of a Guest

How chic is this!?

A Sleek, Vegan Leather Lunch Bag, And More Clever Items t...
Real Simple

There comes a time in your adult life when you find yourself wanting to pack a lunch (yes, it comes for us all). But you ...

Ali Kaminetsky
Forbes

Ali Kaminetsky on the 2021 The Next 1000 - In 2016, Ali Kaminetsky look at the bags people used for their lunch and had a...

Show all
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Modern Picnic

Modern Picnic successfully raised $102,250 from 158 investors on October 19, 2022
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