Shark Tank Gavin Paris
In this episode of Shark Tank India Gavin Paris, a new-age streetwear fashion brand presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Company name||Gavin Paris|
|Founders||Kishor Jairamka and Ashutosh Roy|
|Ask||₹50 lakhs for 5% equity|
About the company Gavin Paris
Nowadays oversized and loose-fitting clothes are in trend as they look cool. To make such people cooler, Gavin Paris is here where fit doesn’t matter. Gavin Paris is a new-age streetwear fashion brand that makes quirky and stylish clothes for youth as per changing trends. They are oversized brands, not plus-size brands. The company was launched in February 2022 and more than 25,000 products were delivered. All their products are sold through their website. Their vision is to convert this streetwear niche into a mainstream industry king. They have four categories of products-
- Oversized drop shoulder t-shirts
- Printed shirts
- Co-Ord sets
- Polo t-shirts
They have in turn from the fashion industry which keeps checking on the trending clothing style. They do completely B2C business. They do basic marketing through Facebook and Instagram. Their Instagram followers is around 115k. Kishore holds 100% equity of the company,
Ask by the Owner Gavin Paris
The owner made an ask of ₹50 lakhs for 5% equity of the company at the valuation of ₹10 crores.
Gavin Paris Sales And Revenue
The price of one t-shirt is ₹599. Their lifetime sales is ₹1.4 Crores. The gross margin is 60%. Their profit is 18%. The sales on June 22 were ₹19 lakhs, July 22 was ₹22 lakhs and August 22 sales were ₹25 lakhs. The average order value is ₹950. Out of a total MRP of ₹650, ₹200 is spent on manufacturing, CAC is ₹100, shipping cost is ₹84, GST is ₹32.5 and the rest is profit. Monthly marketing expenditure is ₹5 to ₹6 lakhs. Out of total sales, 90% comes from men and the rest comes from women. Their dispatch time is 24 hours and in metro cities, the dispatch time can be up to 48 hours.
Offers and counter offers
Veenita gave a conditional offer of ₹30 lakhs for 10% equity and ₹20 lacs debt at 12% interest along with a condition that Asutosh will get 40% equity in the business.
Gavin Paris Final deal
No final deal was closed.