Heart Up My Sleeves
Initial Ask – Rs.25lacs for 10% equity at a valuation of Rs.2.50Cr.
About the Company
The company manufactures detachable sleeves for the same dresses to get new looks, with different kinds of sleeves. However, the company is relatively new.
Influencers like Hanshika Motwani and Neha Kakkar have been associated with the brand.
The Selling price of the products range from Rs.1300 to Rs.2900 and the Cost of manufacture varies from Rs.500 to Rs.750, enjoying good gross margins.
Past performance of the Company
The company has fulfilled around 1,003 orders, selling goods amounting to Rs.1.96lakhs per month on average.
Industry Overview
Clothing is evergreen, and will grow. But since its starting out rn, will have to establish a brand identity. This means burning VC money in advertisement and marketing with dicey payout promise. Since no patent exists, only way is to be the first mover here.
Moreover, the competition in this industry is very fierce, due to which the Customer Acquisition Cost will be very high and still big companies will try to overrun new entrants.
Offers made, and the one accepted:
Only One Deal offered, Vineeta and Anupam Offered Rs.25lakhs for 40% of the company. It was countered for 30%, which was accepted