MonthlyCup started up in 2015 and is now a prominent player in the menstrual cup market. The company is currently expanding its product offerings, changing its name to Monthly of Sweden and raising SEK 6 million in an investment round aimed at the international market. BioStock contacted CEO Lisa Perby to learn more about the company, the development of the new products, and how investors can be part of the journey.

Roughly one in four people is a woman of fertile age. The global menstrual protection market is enormous, and even though it is currently dominated by disposable products, more and more women are turning to more sustainable alternatives that are also gentler on the body. One product gaining ground is the menstrual cup, which sold for approximately USD 900 million in 2021 and is expected to constitute a market of around USD 1.4 billion by 2029.

In addition to the sustainability aspect, many choose the menstrual cup because it allows for more activities without feeling restricted. In fact, nine out of ten women who have tried the menstrual cup choose not to return to disposable products.

Predicting substantial sales increase in 2024

One company riding this wave is Halmstad-based Monthly of Sweden, which currently sells its menstrual cups, MonthlyCup, through over 1,200 retailers in 12 countries across Europe. Since its inception in 2015, the company has shown impressive growth figures. After a downturn due to the Covid-19 pandemic, they are now back on track for growth and had sales of over SEK 3.8 million in 2023. For 2024, they predict sales to exceed SEK 6 million.

One of the building blocks to achieve this is the launch of Monthly Wear, menstrual underwear containing TorTex – a patented naturally antibacterial textile. The underwear has an absorbent layer free from harmful metals, providing protection throughout the day.

However, this is not the only product under development. By 2026, Monthly of Sweden aims to launch Inconti, a medical continence support for women suffering from stress incontinence.

Raising SEK 6 million in capital round

To maintain momentum in market penetration and product development, the company is now raising SEK 6 million, with SEK 3 million already secured. The capital acquisition is part of two investment and development phases. The first is intended to finance, among other things, biocompatibility and cytotoxicity tests, a clinical study, the launch of Monthly Wear, and an expansion of the sales and marketing team.

Since Monthly of Sweden is not listed, investors need to contact the company directly to invest. The capital acquisition is ongoing until April 7th. More information can be found here.

CEO’s comments

BioStock has contacted Lisa Perby, CEO of Monthly of Sweden, to learn more about the company, ongoing market initiatives, and the capital acquisition they are undertaking.

Starting with the menstrual cup market, you have a prominent position in Sweden. What contributed to your success?

– We have always put the customer first, not only through a product manufactured in Sweden, that is traceable, and tested for internal use, but also through communication and development. We have dared to break new ground, contacting retailers who previously did not have menstrual cups on the shelf, resulting in our presence today with major players.

Menstrual underwear is a relatively new product category within menstrual health, and there has been controversy surrounding several companies’ menstrual underwear containing prohibited chemicals, leading to their withdrawal from the market. What are your thoughts on this, and how do you plan to ensure a successful launch of Monthly Wear?

– I understand how other players have thought – they don’t want the underwear to smell, so they add silver to kill bacteria. But silver is a controversial chemical that is extremely harmful to the environment, so we need to find other solutions. Instead, our underwear contains an antibacterial material called TorTex, which we use under exclusive license. It is naturally antibacterial, without added silver, making it suitable for the menstrual use case.

– We are looking forward to the launch in a couple of months, where we will first let our 2,500 shareholders act as a test panel before we reach the general public. Several of our current retailers have already shown great interest in these unique menstrual underwear.

After the setback from Covid-19, you showed growth again in 2023. What has contributed to this positive development?

– New retail chains, increased online sales, and investment in new and expanded areas all contribute to our growth. The fact that we have been quite prominent in the media also contributes to increased awareness.

How have sales developed in early 2024?

– Sales continue to rise. We will soon launch in another nationwide retail chain with 300 stores. This particular customer naturally affects sales, but is primarily a quality stamp for us. For the full year, we predict sales of over SEK 6 million.

Can you tell us a bit more about what needs to happen for that forecast to be met?

– There are three key areas that we are working on: our own online sales, increased distribution in stores, and the launch of menstrual underwear. Thanks to our extensive distribution network, we believe in early success for menstrual underwear in particular.

You are also working towards introducing a continence support. What does that segment look like, and what market potential do you see there?

– Up to 35 per cent of all women experience stress incontinence, but the actual number is believed to be much higher. Of these, 85 per cent do not seek treatment but suffer in silence. We want to help them with an easy-to-use product they can try out at home, which alleviates leakage and restores freedom. Considering the limitations caused by stress incontinence, we see significant market potential among the hundreds of thousands restricted in their daily lives. Incontinence products are sold for USD 10 billion annually.

You have a lot in the pipeline. Looking further ahead, where do you hope Monthly of Sweden will be in five years?

– We believe we will be one of the major companies in women’s health, with more exciting products in development. The goal is to have a presence in more international markets and to be listed on the stock exchange.

Finally, what are your best arguments for investing in Monthly of Sweden right now?

– Our menstrual cup has proven to change lives for so many. Now it’s time to take the next step with more products that can have the same impact on people and the planet. We have shown that we can achieve significant results with limited resources. If we had solely worked with menstrual cups today, the result would already be positive. I am convinced that our development projects will take us to our goals.

Prenumerera på BioStocks nyhetsbrev