Cloud Tailor, a tech-enabled bespoke apparel firm that makes use of the asset-light business model combining technology and commerce, is featured on Shark Tank India Season 2.
Through its D2C mobile app, Cloud Tailor, a bespoke clothes company, offers a genuine service both online and off.
Customers may place orders, track them, and keep an eye on order fulfilment using the app, which also offers ideas, tracking, and individualised fashion styling. The organization’s asset-light business strategy seeks to deliver a customised bespoke experience in a quick and cost-effective manner.
Will the sharks offer the founder a deal? Continue reading to learn more about the deal.
About the Brand
Mahesh Patel, Susmitha Lakkkula, and Rudra Pratap are the founders of the business. Finding a skilled tailor who can manufacture your clothing and deliver them in a short period of time is really tough. All people have had this issue. Right? For ladies worldwide, Cloud Tailor is a one-stop bespoke fashion and tailoring portal.
They are accessible via their own website or through the Google Play Store app. We just need to log in to the website and upload the picture. They are present offline at upscale brand stores and shops inside shops.
Within 24 hours to 7 days, they may deliver the orders. They want to spread out to 40 cities and 4 nations. For Android and iOS, they have two applications. The user-facing one is for the user, while the back-end one is for tracking orders, deliveries, and other things. All walk-in clinics provide free lifetime alterations.
Sales and valuation
The return rate ranges from 1.5 to 2%. Their unique selling point is that they can create lehengas out of kurtas, sarees, and other fabrics. Their design output is divided into 60% ethnic clothing and 40% casual, formal, and party attire.
Pitchers demanded 1 crore rupees in exchange for 1.4% of the company’s stock.
The income for the month of August was 34.8 lakhs rupees. The revenue was 16.4 lakh rupees in June and 24.6 lakh rupees in July. The sales for FY20-21 were 38 lakh rupees. 2.2 Cr. rupees have been raised by them in December 2021.
1.89 crore rupees were raised in Tyke in March 2022 at valuations of 50 crore for the floor and 80 crore for the ceiling. In March 2022, they raised a further 15 lakhs at a valuation of 10.2 crore rupees. They raised 3 crore rupees in July 2022 at a 30 crore rupee value. At the moment, they are lost. They made 34.8 lakhs in sales in August of 22 and burned 45 lakhs.
Deal or no-deal?
No sharks were interested in this firm since it appeared dispersed and disorganised, hence there were no bids and counteroffers.
There was no deal struck with the sharks.
A novel idea called Cloud Tailor Business combines technology, fashion, and efficient administration to provide ladies individualised fashion options. The firm is an interesting possibility for the fashion industry because of its asset-light business strategy and creative approach to fashion.
It has the potential to have a huge influence on the industry with its intentions for worldwide expansion. The review provides an engaging forum for conversation and learning, and the sharks will definitely have advice for the entrepreneur on how to grow the company.
Entrepreneurs may get a fresh perspective on how to plan their firm and continue to learn and grow by taking the shark judge’s advice into consideration.
In conclusion, the Shark Tank India Cloud Tailor Business is a cutting-edge and intriguing possibility with the power to transform the fashion sector.
Where to Find Cloud Tailor
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