Farda
Initial Ask – Rs. 30 lacs for 10% equity at a valuation of Rs. 3 Cr.
About the Company
Aiming to become the future of fashion, this is a premium culture brand which makes customised streetwear products. Their unique selling proposition is their customisation techniques and their way of perceiving things creatively, an example of which was shown live through their shark tank theme. They are not just trying to portray streetwear, but also want to fuse it with Indian Culture. Sustainable fashion is also one of their goals to achieve, where they make clothes out of waste materials itself. Along with this, they operate in mass production of streetwear products.
However, scalability might be an issue for which standardisation of the processes is a necessity, Now, to achieve this is a tough job.
Past performance of the Company
Being at a very early stage, they have bagged a sales of Rs. 1.3 lacs in the 4 months of their business. They even made physical presence in front of customers after the lockdowns, where they sold products worth Rs. 40,000.
Industry Overview
This has a very huge customer potential base which is the youth and a majority of India’s population is Youth. Street Wear Fashion is very prominent in the Western Countries and can be explored in India as well. It has been growing with the GenZs and millennials taking over the fashion industry. The market is explored by very few companies like Capsul and so it has a high potential in the Indian Market.
Offers made, and the one accepted:
Namita Thapar and Aman Gupta together came to offer the company Rs. 30 lacs, as per their ask, but for an equity of 30%. This was countered by them, where their ask was Rs. 30 lacs for 20% of the company, and the deal was closed here itself!