Report of Artemis 2022 project

Conducted over 24 months, the ORIGIN project culminated in a crowdfunding campaign in November 2022. This campaign ran for 29.5 days on the Kickstarter platform, raising nearly €246,000 in funding from 270 backers. This article provides a detailed financial overview of the project and shares the precise allocation of the funds raised during the campaign.

ALLOCATION OF FUNDS

To fully understand how a Kickstarter campaign operates, it is essential to analyze the associated fees. In addition to various service fees, there are declined payments and collected VAT. As a result, out of the €246,000 displayed during the campaign, only €185,000 will actually be received by Mu:n Projects.

These funds were then divided into three main categories. The first and largest category accounts for 80% of the total, amounting to €152,000. This portion is entirely dedicated to the production of the ORION series, supplier payments, and stock building. Next, a provision of €28,000 has been allocated to research and development, primarily focused on the upcoming Orion and Ariane collections. Lastly, €10,000 is reserved for the operating expenses of Mu:n Projects.

An order amounting to €152,000 was placed for the production of 350 models. This budget covers the machining of components, bracelet manufacturing, as well as inspection and assembly operations. Additionally, a provision equal to 15% of this amount, alongside existing stock, has been allocated to ensure after-sales service (S.A.V.) support.

The movements account for nearly 45% of the total cost of the models. This corresponds to the purchase of 300 Sellita movements and 100 Ronda 708 movements (Swiss Made version). This amount also includes advanced movement adjustments and meticulous performance testing carried out in the workshop.

The Artémis 2022 project required a total investment of €15,000 in development costs. This amount covered the creation of technical drawings, the design of miniature components, as well as three successive prototyping phases. The development of digital tools and project management accounted for 20% of this investment.

Additionally, a provision of €25,000 was allocated for the Orion project. The research and development for the next project is estimated at €50,000. The Artémis 2022 project thus helped pre-finance nearly half of this amount.

Over half of the generated profits were reinvested into the permanent collections. Following the Artémis project, an order for 50 automatic models and 100 quartz models was placed. This initiative aims to expand the availability of our permanent collections while strengthening their continuity.

Management costs account for approximately 5% of the total campaign amount. This allocation covers various administrative expenses as well as investments in brand awareness. An additional provision of €3,000 has been set aside to cover expenses planned for 2023.