Turn the tide
Who Is 7 Leagues? | What is Fish Leather | Why Now | Roadmap | Why Invest | FAQ | Infographic
Overview
Our tanning facility has re-opened with new researchers
This kicks off a raft of news and advancements at 7 Leagues that includes the opportunity for you to put some skin in the game - and get something back.
7 Leagues Leather is offering an investment opportunity under the British Columbian Small Business Venture Capital Tax Credit program. Our goal is to raise $500,000 before the end of December 2024 to fund our remaining R&D and begin production for sales.
Our vision is to develop the best quality fish leather as a solution for fish waste globally, starting here. We imagine a brighter future and work toward it with relentless innovation and optimism. Read more about our Values.
Who is 7 Leagues?
We are a woman-owned tannery, wholesale fish leather manufacturer, and eco-innovation startup, combining circular economy production with a commitment to positive environmental and social impact with relentless innovation for the highest quality of craft. Check out the team.
We are building a business that uses profit to support people and the planet by making a textile that answers the growing global shortfall for preferred material.
Our leather is made using renewable, bio-based inputs, resulting in a strong and flexible material with a gorgeous pattern that is also plastic-free and PFAS-free - proving that natural and sustainable can be synonymous with luxury and durability.
What is Fish Leather?
Leather is a textile made from the hide or skin of an animal that is processed (tanned) to withstand decay. Instead of using the traditional cow hide, we use the skins from locally caught fish that are discarded as waste during food processing.
We use plant-based (vegetable) tannins to turn the skin into leather, which sets us apart in an industry that is deeply entrenched with cheap, quick, dangerous processes. Today 85% of leather is made with chromium, which can be toxic to the labourers and the environment. Alternative or ‘vegan leathers’, present other problems, as their production relies heavily on plastic coatings.
Our process is chrome free, renewable and bio-based, resulting in a strong and flexible material that is also PFAS- and plastic-free.
Why Now?
7 Leagues initially set out to craft timeless fish leather products, but no existing fish leather met our quality and ecological standards. So we pivoted, creating our own “preferred” (low-climate-impact) material that is not only beautiful, but also 9x stronger per thickness than conventional leather. We are innovating vegetable tanning (plant-based) leather techniques, combined with locally sourced fish skins: an abundant and underutilized resource that would otherwise be discarded as waste during food processing. Our motto is relentless innovation- in leather, in coatings, in colours, and in processes- to prove that durable beauty does not have to come at the cost of the planet.
Because we didn’t opt for the quick, business-as-usual approach to making leather, we had to find the right person with the right training, perspective, and personal attributes to lead our R&D - and that person was not in Canada. After consulting globally, we are thrilled to bring in Minh Thieu, honours graduate of the University of Northampton in the UK with a thesis on eco-innovation in leather technology and professional experience as a tanner in Vietnam. He will be joining our new Canadian science manager, so that the knowledge transfer is recorded, learned, shared, and built into our company’s DNA as we go.
With our R&D team in place, we're poised to initiate the crucial next step on our roadmap. Your investment will directly fund this critical phase, enabling us to finalise our leather tanning formula and begin production and revenue. This is your opportunity to be part of a transformative venture in sustainable textile innovation from the ground up.
-Relentless Innovation-
What is Next for us?
1. Our new tanner and Canadian chemist collaborate through the final steps of R&D to ensure we have the strongest, cleanest, and best fish leather on the market for sale by summer 2025.
2. After finishing R&D in our Vancouver startup space, we establish a permanent facility in Port Alberni on Vancouver Island. This deep sea port and seafood hub is keen to have us and is working with us to enable this move.
3. Global partnerships (already initiated) grow 7 Leagues where this fish waste solution is also needed and the market is right. This global distributed hub supply chain model ensures ample supply and variety while ensuring customers that our fish leather always meets consistent, guaranteed high standards, no matter where it is made. And it nearshores manufacturing close to the supply to reduce transportation pollution and costs.
4. We have a few more tricks up our sleeves but you’ll have to come along for the ride to watch these unfold.
Why Invest with 7 Leagues?
We have been approved for BC’s unique program that enables individual investors an up-front 30% refundable tax credit with the option of putting that into RRSP eligible shares. You do NOT have to be an accredited investor and our share offerings start at $1000 to enable a wider variety of investors to participate. Those that invest at the $10,000 will get a bespoke fish leather gift and, $25,000 level, will also be invited to a Tide to Table Dinner.
You also might want to invest because:
The fish leather market, estimated at $32 million (USD), is growing 5-6 times faster than the conventional leather market
You want to support woman-owned business, which receives a paltry 2% of investment money
You believe in using resources wisely, creating local jobs, and reducing waste, rather than outsourcing manufacturing and the jobs it creates, throwing away our natural resources, and offshoring Canadian ingenuity
You love fashion and know fish leather is fabulous (and meets new regulatory requirements)
You think coastal communities would benefit from more value from every fish landed
You want to make the world better through a business that uses profit as an engine for positive environmental and social impact rather than letting sheer maximum returns without accountability run the show
As we grow, we’ll be looking for additional ways to thank you for helping us get started on our journey.
Did you know…
Rihanna wore a Fish Leather bomber jacket in her VOGUE maternity shoot?
Many big brands like Converse, Nike, Prada, Gucci and BMW have used Fish Leather in their products
In addition to being beautiful, Fish Leather is STRONG!
9x the tensile strength compared to other leather of the same thickness
FAQ
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Send us an email.
There are different ways to invest - contact us and we can walk through the options and the process.
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BC has created a unique program - called the Small Business Venture Capital Tax Credit - to support the growth of start-up companies like 7 Leagues.
The program is administered and funded by the Provincial government. Individual BC residents receive a 30% refundable tax credit when they invest at least $1,000 in Eligible Business Corporations. Corporations can invest as well. However, corporations receive non-refundable tax credits.
Please note that we cannot guarantee this tax credit, but we do all the administrative work to ensure that on our end, investors are eligible. Our confirmation letter from the Province, affirming that 7 Leagues Leather is eligible to issue tax credits is available on request.For more information available here
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We are offering Class C shares.
Under securities regulations, we cannot promise or even suggest an investor's potential rate of return. However, as we grow and become profitable, we hope to be able to distribute dividends.
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Through the Small Business Venture Capital Tax Credit program the minimum amount is $1,000 and the maximum is $400,000.
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Investment is open to individuals and corporations that reside in British Columbia, Canada.
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Yes, our financials are available, send us an email and we will get you to sign an NDA first.
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The Small Business Venture Capital Tax Credit program requires investors to hold their shares for a minimum of 5 years.
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After 5 years, if an investor would like to tell their shares, they must provide us with notice to do so, and offer them to existing shareholders.
Any transfer of shares must be approved by 7 Leagues. If existing investors do not buy the shares, they may be offered to new, external shareholders under available securities exemptions.
The Class C shares have a par (face) value of $1 per share. Under securities regulations, we cannot promise or suggest what the value of the Class C shares will be in the future.
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The shares we are offering are eligible RRSP investments. If you choose to hold 7 Leagues shares in your RRSP, it can reduce the cost of your investment by up to 80%, depending on your tax bracket (30% refundable tax credit + 49.8% RRSP tax benefit).
Program Overview
