Soanua EIS (Rise & Fall)

Online luxury retail brand Rise & Fall (the trading name of Soanua Limited) sells high-end essentials – such as organic cotton bedding, cashmere and silk apparel – at significantly lower prices than traditional luxury retailers. It aims to provide the best parts of luxury – beautiful design, finest materials, made by the best manufacturers – at an accessible price point.

The problem

The traditional luxury and premium goods industry is structurally inefficient and often fails to deliver value to consumers.

Prices are inflated, driven by multiple intermediaries, retail mark-ups, and brand-led pricing.

In addition, brands often order from suppliers a season or more in advance, resulting in long supply chains, overproduction and inventory waste, further driving prices up.

Such inflated prices could be turning consumers away. Many premium brands reported declining sales in 2025 – including Gucci, Versace and Burberry, whose year-on-year revenue dropped 17-26%. Mid-tier premium brands may bend more under the strain – LK Bennet is a case in point, recently reappointing insolvency administrators for the second time in six years.

Rise & Fall’s solution

Rise & Fall has positioned itself to take advantage of a growing trend of consumers desiring premium quality products at affordable prices.

The online luxury retailer keeps sales costs very low by operating a short supply-chain and low inventory model. It works directly with manufacturers used by well-known luxury brands, and ships products directly from manufacturer-to-consumer (M2C) – thereby removing middleman supply chain friction and costs. The Company furthermore applies a Just-In-Time (JIT) inventory model: where stock is ordered and received from suppliers only as needed, cutting storage costs and inventory wastage.

Its close working relationships with manufacturers enable both parties to be flexible: Rise & Fall can test new product lines in small batches, with popular products being scaled up and unpopular ones scaled back.

As a result, Rise & Fall’s retail prices are up to 80% lower than competing luxury brands.

The Company is B Corp certified and its products are made of only the highest-quality materials, such as A-grade cashmere, organic extra-long staple cotton, Mulberry silk and Mastrotto leather.

Why consider investing?

In the four years since launch, Rise & Fall has achieved significant success in multiple large categories: bedding, other homewares, and women’s and men’s apparel – increasing turnover over 8.5x. The business recorded revenue of £11.2 million at the end of 2025, an increase of 49% vs the prior year (£7.5 million in 2024).

The luxury “slow homewares and apparel staples” market is worth around £18 billion in the UK, and a further £110 billion in the international markets the Company plans to sell in: US, EU, Australasia. Currently, it has penetrated less than 1% of the UK market, so sees significant opportunity. Management also plans to grow the business by delving deeper into existing successful categories and entering new ones.

The Company has been well supported by institutional investors, including Guinness Ventures and Venrex (early backer of Revolut, Charlotte Tilbury, Just Eat, Notonthehighstreet.com, Mumsnet and ME+EM).

Wealth Club investors first invested in Rise & Fall in 2025 as part of a £3.8 million funding round led by Guinness Ventures.

The opportunity

Rise & Fall is currently reviewing its funding position. The Company has limited EIS capacity left before outgrowing the EIS eligibility criteria – so it aims to fully use its remaining EIS allowance now.

The business is well capitalised, with over 12 months of runway.

The Company seeks to raise up to £2.8 million in a Series A Extension round. £2.1 million has already been received from Series A lead investor Guinness Ventures and other minority shareholders, including Wealth Club existing investors. The remaining £700k capacity is available to new and existing Wealth Club investors – the minimum investment is £21,600 and you can apply online. The share price is £0.72 per share, equivalent to a pre-money valuation of just under £25 million (2.2x 2025 revenues).

Management plans to use funds raised in this round to accelerate growth, particularly in international territories including the USA, Australasia and the EU.

Rise & Fall expects to deliver a 46% increase in revenue in 2026 and is targeting profitability in 2027 – not guaranteed. It forecasts revenues to grow to £71.5 million and EBITDA to £16.7 million by 2030 – not guaranteed. Based on the Company’s forecasts, target pre-tax return for this round is approximately 8x, net of fees and before EIS tax relief – high risk and not guaranteed.

This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.

Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.

There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment. Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief.

To claim tax relief, you will need an EIS3 certificate, normally issued once shares have been allotted. This can take several months: please check the deployment timescales carefully. Tax reliefs depend on company maintaining its EIS-qualifying status. Remember, tax rules can change and benefits depend on circumstances. Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.

The new investment will be made under the same structure and fees as the previous investment.

Investors will pay no direct initial or ongoing charges to invest. Fundraising costs are being met by the Company. Wealth Club will be entitled to a performance fee on exit.

Wealth Club investors will invest using a nominee structure. This service is provided by Wealth Club’s subsidiary companies Wealth Club Asset Management Limited (authorised and regulated by the FCA) and Wealth Club Nominees Limited. Wealth Club Nominees Ltd will be completing the share subscription documentation on investors’ behalf.

All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.

This financial promotion has been communicated and approved by Wealth Club Ltd on 7 May 2026

Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.