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Freakins from Shark Tank India Season 2.

Sharks Absolutely Loved Freakins India

Table of Contents

Introduction

Freakins India, a fast fashion clothing brand for Indian women gives the pitch. In the world of fashion, denim is quite fashionable. Yet, the denim industry has not been able to produce clothing that fits different body types, climates, and demands. It’s also true that the denim industry caters more to males than to women.

Hence, they established their business, Freakins India, to address this issue. For ladies of all body types and sizes, Freakins is a denim company that releases new product variations every week. They offer over 35 categories and are brands geared at Gen Z. 1500 different styles are available. They have completed 2.5 lakh orders during the past three years.

 Will the sharks offer the founder a deal? Continue reading to learn more about the deal. 

About the Brand 

With the primary purpose of enabling women to dress stylishly while retaining a degree of comfort, Freakins was established in 2018. They are a company that honours women in all of their beauty, honesty, and independence. What began as an experiment in reusing and rethinking a common fabric, denim, quickly developed into a full-fledged company that focuses on producing clothing that not only makes you happy but also completes you.

The CEO, Puneet Sehgal, is from Mumbai, while Shaan Shah, the CMO and head of marketing, is from Ahmedabad.

Shaan was aided by his family. He comes from a background in the textile industry. Along with his uncle Sachin, he began to gather the same cloth and supplies so they could create something for themselves.

In the world of fashion, denim is quite fashionable. Yet, the denim industry has not been able to produce clothing that fits different body types, climates, and demands. It’s also true that the denim industry caters more to males than to women. Hence, they established their business, Freakins, to address this issue. For ladies of all body types and sizes, Freakins is a denim company that releases new product variations every week. They offer over 35 categories and are brands geared at Gen Z. 1 500 different styles are available. They have completed 2.5 lakh orders during the past three years.

They sell their goods on their own website as well as on online stores including Amazon, Myntra, Nykaa, and Meesho. Puneet owns 54% of the equity, Shaan has 36%, Shaan’s uncle has 5%, and the remaining 5% is made up of ESOPs. For 1% ownership in the business, the owner demanded 70 lakh rupees.

Sales and Valuation 

Sales in each of the three financial years were 90 lakh rupees in 19-20, 6.7 crore rupees in 20-21, and 10.4 crore rupees in 21-22. The monthly net sales on average are 90 lakh rupees. It was breakeven in the years 19 and 20.

The loss for the years 20 and 21 was 2.1 crore rupees. The loss for the year 21–22 was 3.8 crore rupees. The loss over the past six months in the years 22–23 is 60 lakhs. 63% is the gross margin. The net sales for the month of September in 22 were 1.05 crore rupees, while the marketing expenses came to 12 lakh rupees.

Deal or no-deal?

Vineeta stipulates that this investment must be a part of a larger investment round in exchange for his 50 lakh rupee offer for 2.5% equity and his 20 lakh rupee debt at 12% interest rate.

Pitchers’ counter offer consists of 50 lakhs for 2% equity and 20 lakhs for 12% interest-bearing loan.

Vineeta and the pitcher reached a deal to trade 50 lakh rupees for 2.5% of the business shares.

Conclusion

Freakins India has gone beyond simply making garments to affecting the market with lifestyle innovation and producing goods that are supposed to be a part of everyone’s daily lives. Fashion companies of today, like Urban Monkey and Farda Fashion, envision a future in which you are not constrained by the person you are and are creative and self-assured enough to appreciate life as an exciting experience.

Freakins India is committed to developing and changing from a philosophy for a clothing company to one that impacts lives. Provide proposals to move this firm ahead by examining your strengths and limitations in order to combat dead stock and competition with such a thorough plan.

Where To Find

Instagram | Website

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