Share
100% funded by 350 investors
Ethical Choice
Matosinhos, PT
instalment
monthly
term
5 years
yearly interest
5.85%
risk rating
C+
Footwear and accessories made from waste.
Description
Ethical Choice is a Portuguese manufacturer of footwear, accessories and other articles made from surpluses. The companies uses surpluses from the footwear, cork and textiles industries and develops products such as espadrilhes, sandals, slippers, bags, backpacks, wallets, pencil holders, amongst others.
These articles combine several advantages: using fabric, footwear and cork surpluses which would otherwise have been considered waste; produce new products with great durability and meet the needs of a well-informed target group, which is conscious about their consumption habits – consumers who give preference to products with lower ecological impact, cruelty- and animal-free.
The surpluses are sourced from two companies: Confeções Lion Jean Lda in Barcelos and Origine Lda in Matosinhos, which have 100 and 21 employees respectively. The design and cutting of Ethical Choice’s products are carried out by Origine, the manufacture of the footwear is carried out by Valdemar Moreira in Santa Maria da Feira, and the manufacture of small accessories (bags, wallets, cases, etc. ) by two craftsmen in Oliveira de Azemeis.
The 20,000€ will be used to purchase a thermical printing machine, a laser cutting and engraving machine and to register the brand. The machines will be installed at Origine’s factory in Matosinhos which currently produces the products by hand.
The Impact
Direct:
- Transform surpluses into new products: the products to be sold by Ethical Choice are only produced from surpluses resulting from other companies' productions, including fabrics, EVA (ethylene-vinyl acetate, used to produce footwear), among others. The company has partnered with manufacturers, having secured between 2,500 and 3,000 kilograms of denim fabric and others such as canvas, preventing these from being thrown away.
- Sustainable delivery and packaging: Ethical Choice is developing and growing fast, and its main goal is to sell directly to the public. But while it is still growing, it sells its products to shop and distributors, these being delivered in cardboard boxes and the items wrapped in protective paper. For direct sales, the company is developing bags made from fabric surpluses for packing shoes and backpacks. The remaining articles will be packed in paper bags.
Indirect:
- Promoting sustainable production: in the production of its products, Ethical Choice does not use any sort of plastic nor materials from animal production. The shoe soles are made from EVA surpluses (used in traditional footwear production) to which an aqueous basic additive is added. The zippers used on the backpacks and cases are made from metal. The shoe’s soles and insoles are made by and bought to Portuguese factories. The re-using of the surpluses and processing of new products does not include any cleaning process (usually manual) and the application of the interlining fabric does not use water nor any chemical products.
Contribution to the Sustainable
Development Goals
Sustainable Development Goals
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Financial viability
The acquisitions of the thermical, laser-cutting and engraving machines will differentiate and add value to the products, significantly reducing the production costs. The funds will also allow the product range to be widened, to set more competitive prices and thus increase the sale volume.
Download Key Investment Information Sheet
Guarantees
Pledge of the installed equipment and personal guarantee from the main shareholder.
The Promoter
About Ethical Choice, Unipessoal Lda
Ethical Choice was born in 2021 in the district of Porto. They planned to grow as a benchmark company in the market for the reuse of waste, particularly footwear and textiles.
In addition to using fabric, footwear, and cork waste that was going to waste, the Portuguese brand's products responded to consumers concerned about their ecological footprint, impact on the economy, and animal welfare, as they were cruelty-free and of non-animal origin.
Since 2022, the company has completely changed its focus. Ethical Choice currently manages properties in Portugal and Germany for tourism purposes. In Portugal, it manages two apartments in the city of Guarda and a 14-bedroom villa in Fornos de Algodres. In Germany, through its subsidiary Ethical Choice Germany GmbH, the company operates a 15-room building and 7 apartments in the city of Kaiserslautern and is in the process of expanding to Munich, where it manages 3 apartments.
The team
Francisco Miranda
Francisco Miranda, the company’s founder, has a Business Management degree and began his career in several industries. He was later hired as a technician by the formed Fonseca and Burnay Bank where he worked for about five years, later to become a manager and regional director the Pinto & Sotto Mayor Bank where he stayed for seven years. He later worked for several companies: Sociedade Imobiliária Agrodomus S.A., Sociedade Agrícola Quinta da Romaneira S.A. and Pri Lda. He was in Argelia, developing a comercial project, and back in Portugal in 2015, working as a consultant and commercial agent.
Business Model
Ethical Choice develops green and vegan products, produced using materials surpluses, sold at a fair price. The company’s strategy is based on contacting companies which sell the same type of articles (but produced from different materials), and offering them the possibility to sell under the Ethical Choice brand or their own trademark.
The brand partners with both manufacturers who provide it with the surpluses – having secured between 2,500 and 3,000 kg of textile surpluses – and with the manufacturers who produce the company’s products. The company has also established partnerships with clients who organize public markets and fairs, one of the company’s main objectives being the direct selling to the public.
The company already has a few customers in Europe, namely in Belgium, who commercialize the company’s products in shops and online. Ethical Choice i salso about to establish partnerships in Germany and France.
In Portugal, Ethical Choice aims to partner with companies which already sell online, and participate in vegan and sustainable events, mainly at markets and fairs.
Currently, Ethical Choice rents out rooms and apartments to travelers for short stays, usually ranging from a few days to a few weeks. The revenue comes from nightly rental fees.
The company has recorded sales in Belgium and foresees orders from Germany and France, countries to which several samples have been sent.
One of the company’s main objectives is the direct sale to the public, which will be catalysed by the return of vegan and sustainable events in Europe.
Active since
2021
Fiscal country
PT
Operating In
"Portugal & Germany"
Industry
Apparel
Number of Goparity Loans
1
Women Shareholders
No
Updates
2025-07-17
Loan restructuring
This loan has been restructured as follows: introduction of 3-month grace period for the capital amortization and a 12-months extension to the project term.
2021-07-02
First payment
First instalment was paid to all the investors
2021-05-31
100% funded
326 investors successfully raised 20.000€
2021-05-17
Open for investment
This campaign is open for investment
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4º Esq
1070-289 Lisboa
Portugal
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