Lyly Design offers high-end products in quality and design from travel cushions to cozy wearable blankets. Sales are skyrocketing, positive reviews are pouring in, and their award-winning brands are becoming Amazon’s choice. This is the success story of a young e-commerce outfit.
The journey to success, however, was filled with hurdles: a world pandemic, global shipping delays, and mistakenly receiving an Amazon suspension, closing down shop entirely. But Liran Blum and Idan Noyberg, co-founders of Lyly Design, defeated them all and after 2 years, came out on top.
But even though Liran and Idan finally reached a point where they could start to develop and grow – they were stuck. Their race car engines were growling – but their gas tanks were empty. Stock was selling like hotcakes, but the two couldn’t keep up. Filling up inventory was taking its toll, crushing their flow, and potentially beginning to pose a threat to their store.
The idea of solving the situation by adding risk and debt to their day-to-day management, left the two with sleepless nights. What they needed, they realized, was support. A partner to share the risk of purchasing inventory they couldn’t afford.
“Spott offered the solution we were searching for,” says Idan Noyberg, Lyly Design co-founder, “With “Spott Boost” we found a way to purchase inventory risk free and debt free. Knowing we had this safety net, gave us the opportunity to scale up fearlessly, and confidently bring our company to its full potential.”
And – it worked. With Spott behind Idan and Liran, Lyly Design purchased a hefty size of inventory, which drastically lowered manufacturing costs as well as shipping costs thereby raising their profitability rate by 10%. Just in time for the holiday season, Lyly Design increased sales by 38%. Speeding on the racetracks, burning rubber, Liran and Idan were able to use their free capital to successfully launch new products, focusing now solely on the company’s needs, fear and worry free.
“It was the first time we had met folks who really understood us, and were able to nurture entrepreneurs like us. We found real partners, which in the make-or-break world of e-commerce – is a rare commodity.” says Liran.
Lyly Design continues with Spott for additional rounds. “True to their word, Spott is here for the long run, and we feel more confident than ever as we move onwards, and can already see an extremely fruitful Q4 for 2022.”