Zug suit rental company Adretto is in great demand

The first Europe-wide online rental service for men's suits landed several financial deals up to a total of CHF 400,000 during the investor show on the 3 Plus TV channel. The company is based in Zug.

The Zug-based start-up Adretto AG, which has set itself the goal of becoming the market leader for the online rental of men's suits in Europe, took part in the programme "Die Höhle der Löwen Schweiz"(The Lions’ Den Switzerland: English version: The Dragons’ Den) on the private Swiss television channel 3 Plus. During the broadcast, young entrepreneurs can present their business ideas and, with a bit of luck, conclude a financing trade with experienced Swiss investors. Lorenz Pöhlmann and Ibrahim Can from Adretto concluded a deal worth CHF 100,000 with investor Jürg Schwarzenbach and an early-stage financing round of CHF 300,000.

They were, in fact, offered three deals. "We were hoping to attract a deal, so that we wouldn't come away completely empty-handed. The fact that we were offered three deals at once naturally made us very happy, and confirmed for us that we are on the right track," says the co-founder and CEO of Adretto Lorenz Pöhlmann. Jürg Schwarzenbach is an experienced investor of early stage start-ups, comes from the IT industry and has already invested in other start-ups with a focus on rental models. "This made him a very suitable ‘lion’ for us. He was also the first to offer us a fair deal shortly after the initial pitch," continues Lorenz Pöhlmann.

"After the battle, everyone is a general"
The two young men did not have to negotiate much, and finally gave Schwarzenbach 10% of the company at the conclusion of the deal, instead of the initially planned 7%. "'After the battle, everyone is a general,' as the saying goes. In retrospect, we could certainly have had another round of negotiations. However, it was a good fit for us at that moment," comments Lorenz Pöhlmann.

Landing a lion who could bring in financial resources, a network and the know-how was more important to them than keeping the 3%. After the programme, Lorenz Pöhlmann and Ibrahim Can had long negotiations with Roland Brack from Brack.ch in the backstage area, and were able to convince him about the chances of Adretto. They thereby actually brought two lions on board, which was not shown in the television broadcast.

Progress in both business and human terms
"It was an invaluable experience, and was very exciting to see behind the scenes of a Swiss programme and to be in front of the camera," enthuses Lorenz Pöhlmann. Several months passed from the initial registration to the casting to the recording, in which the two of them spent numerous  hours preparing for this one moment. He adds: "It was worth every minute, however, because it not only helped us as a company, but also as people."

From the very beginning, the investor Jürg Schwarzenbach (centre) was convinced by the Adretto founders Lorenz Pöhlmann (left) and Ibrahim Care and their idea of an online rental service for men's suits.
Photo: PD/ Paesche Weidmann

A certain nervousness was present: "I think you can see this a bit. However, nervousness also helps to keep the necessary tension and shows equally that the performance was extremely important to us." In order to get into the show, you had to go through a casting in addition to the registration in order to finally be selected for the effective recordings. "We spent a few hours fine-tuning our pitch and preparing for possible questions from the lions," recalls Pöhlmann. However, it has paid off.

Expansion into Germany planned
Following its launch in 2020, Adretto has gained over 500 customers and achieved 300% growth this year. "I was convinced about the founders and their idea from the very beginning. The innovative rental model corresponds to the spirit of the times,  and makes rapid growth possible," says Jürg Schwarzenbach regarding his investment.

"The Cave of the Lions Switzerland” was the initial spark for us and a major milestone that is important for further development," says Pöhlmann. In addition to Jürg Schwarzenbach and Roland Brack, three other investors from the fashion, digitisation and events sectors have joined Adretto. As a next step, they will be expanding their business in Switzerland and are looking to expand into Germany in the coming year.