Shark Tank Flhexible
In this episode of Shark Tank India Flhexible, an Indian furniture company that focuses on space utilization presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Founders||Shilpi Dua and Abhimanyu Singh|
|Ask||₹ 50 lakhs for 7.5% equity|
Shilpi Dua, architecture and product designer by profession and Abhimanyu Singh, architecture by profession too. They are from Jaipur. They are husband-wife and they have known each other for 20 years.
About the company Flhexible
Availability of space is a major concern in maximum homes. One can’t find optimum space to decorate their living places. In order to solve this problem they have introduced Flhexible. Flexible is such a company which makes products out of recycled paper. This company uses the honeycomb structure technology to make their products. Flhexible is a brand of sustainable, lightweight and eco-friendly furniture. The products are foldable sofas, wall partitions, benches and several pet and desks products. They don’t use any water in the making process. Durability of the products is 10 to 12 years. Their products are available on their own website and marketplaces like Amazon and also from two retail stores in Jaipur. They have started in the year 2019 and have sold around 250+ products till date. The average cost of a folding sofa is around 7500 rupees. Corporate gifting accounts for 60% of their total sold products.
Ask by the Owner Flhexible
Pitchers asked 75 lakhs for 7.5% equity in the company at a valuation of 6.67 crore rupees.
Flhexible Sales And Revenue
In the financial year 21-22 the sales were 16 lakhs rupees and last month the sales were 3.5 lakhs rupees. The gross margin is 40% and net margin is around 25%.
Hobby India Shark Tank
Offers and counter offers
No sharks were interested as all of them suggested this business model as a gimmick and it will not scale in this Indian market.
No offers were given.
Flhexible Final Deal
No deal was finalized as none of the sharks were interested in this deal.