Drumplings

Opportunity

Raising A$5M on a pre money valuation of A$5M

Drumplings was founded by a team of professionals who have a consistent and proven track record of building highly recognisable brands of the highest quality products.

Business Highlights

Drumplings is a unique modern dumpling brand that offers a global twist on a traditional classic by combining the humble dumpling skin with some of your favourite classic dishes. Think Cheeseburger, Mac & Cheese, Beef Rendang, Truffle Mushroom and Pepperoni Pizza, hand wrapped into a dumpling.

We are creating a new global market that can tap into every culinary heritage of every country in the world and connect people to flavours from all over the world via bite size pieces at an affordable price through a delicate, mouth-watering dumpling skin.

Drumplings was founded by a team of professionals who have a consistent and proven track record of building highly recognisable brands of the highest quality products.

The Drumplings wholesale model is a low-cost, high-return global, scalable and repeatable model, predicated on “innovation, integration, scalability,” using the finest ingredients with a unique combination of flavours.

In 2020 Drumplings established the Thomastown Production Kitchen where 30,000 dumplings can be produced up to a maximum of 100,000 dumplings per day.

Wholesale
The kitchen will produce the dumplings to be sold wholesale and to supply other distribution channels and the franchisees. Drumplings currently supplies Foodworks and Farmer Jack’s in Western Australia and has started supplying Woolworths Metro stores in the Melbourne CBD, and is in advanced discussion to supply Woolworths, firstly in Victoria, then nationally. Demand from the Metro stores in particular is growing significantly.

Micro Stores
Drumplings is currently scoping and is in discussion with Melbourne Central and The Glen in Glen Waverley to identify sites in Melbourne to establish three micro stores. These micro stores will be operated by Drumplings and be used as showcase stores for the franchise stores to be established subsequently. Please refer Appendix B for further details of the proposed franchise system, the strategy and the reasoning.

Online
Drumplings has a significant online presence and retails via iPantry and CO/LAB Pantry directly targeting the end consumer.

Exports
It is envisaged that, once sufficient domestic market penetration has been achieved, Drumplings will look to the export markets to take advantage of strong growth expected in the global markets. With success stories like Bigigo Dumplings, Drumplings is looking to tap into the export market sooner than later.

Global & Scalable

Significant Growth

First Mover Advantage

Diversified Distribution

Financials

Offer
10,000,000 fully paid ordinary shares at 0.50c (which represents 50% of the issued capital) with a 1:1 free attaching option exercisable at $1.00, expiring on 31 March 2024.

Use Of Funds
Drumplings is seeking capital to capitalise on the exponential growth opportunity presented to it by the initial success of the Drumplings concept. The proceeds from this offer will be predominantly used to setup the structures in place to scale up the production and distribution capacity including:

  • Increase in production capacity – A$300,000
  • Development of a plant based range – A$700,000
  • Establishment of 3 Micro Model Stores – A$900,000
  • Establishment of interstate storage capacity – A$500,000
  • Major marketing campaign – A$ 500,000
  • Working capital investment – A$500,000
  • Build up team capacity and put in appropriate governing structure
  • Buffer up cash resources for unforeseen requirements

In addition, the costs of the offer and compliance will also be met from these proceeds.

Videos

Announcements

6 December 2021
Drumplings Appoint Sealane Distribution

Read more

17 December 2021
Drumplings Appoint Ready Chef Go

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Team

Deon St Mor

Founder

Peter Francis

Non Executive Director

Alex Aleksic

Chief Financial Officer

Simon Lee

Facilities & Analytical Director

Jeremy Raven

Operations Director

Stephenie Teoh

Social Media and Marketing Director

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