Bummer is an underwear brand started by Sulay and got featured in Shark Tank India. Bummer, Bummer india, bummer company, bummer brand, bummer owner, bummer funding, bummer valuation, shark tank india, shark tank, and Yeh sab doglapan hai
|Business Category||UNDERWEAR MAKING BRAND|
|Net Worth||Rs 1.4 Crores|
|Valuation||Rs 18.75 Crores|
|Funding Asked||Rs 75 Lakhs for 4% Equity|
|Investors||Aman Gupta and Namita Thapar|
|Funding Given||Read The Last Paragraph|
|TV SHOW||Shark Tank India|
|EPISODE||Season 1 Episode 4|
Introduction to the Pitch | Bummer | Underwear Startup in Shark Tank India
The pitch got started by Sulay who is 27 Years old and belongs to India’s iconic business City- Ahemdabad.
In today’s world, everyone talks about their personality to express themselves to the outer world but they never talk about the inner side. Today whenever we are going to purchase any apparel we consider various factors like Style, Size, Material, designs, and much more. Have you ever wondered why we never see underwear with the same perspective as buying other apparel?
Major brands are making underwear only in two colors Black or White which is too oldskool. If you want to excite not only your social life but also make your inner life Colorful, Exciting and Colorful then this underwear brand – BUMMER is for you.
Bummer – The Underwear Startup | Shark Tank India
The bummer was started in 2020 and this is the underwear brand that makes underwear of supersoft, micro modal fabrics. Combined with exclusive designs and Bold Colors, Bummer provides you with everything you need in Underwear.
More than 15000 people are wearing bummer in their pants and asked sharks to invest in this brand. Sharks loved the brand name of this startup.
Sulay is the solo founder of a startup and he is working on the same for the last 3 years. The brand has been launched 15 months ago.
What is their ask for funding from sharks? | Shark Tank India
Sulay needs an investment of Rs 75 Lakhs in exchange of 4% Equity. The valuation of the company is Rs 18.75 Crores.
QnA | Sharks asking Bummer | Shark Tank India
Where is the Manufacturing Unit of the startup?
They have made their setup in north India but not in Ludhiana ( Ludhiana and Tiruppur ) is a hub for this textile industry. The bummer is tied up with a company in New Delhi in which they have given company machinery of Rs 10 Lakhs.
What is NetWorth and Sales of Bummer?
They have clocked sales of Rs 15 Lakhs in the month of November 2021 only from their own website. In last 6 Months, their sales is Rs 80 Lakhs and they expect to make this double for next 4 months.
Sales Split of startup.
You will be surprised to know that this startup is having a 50-50 split among boys and girls. The most interesting part comes here as this company makes matching underwear for couples.
What is different in their brand?
Other brands are focusing only on some specific designs whereas the advantage in Bummer comes that women are equal buyers and they are having a mover advantage.
They will play on Brand and price point as other brands are charging Rs 700 and on the other side they are giving the same for Rs 400.
How their material is different from Jockey?
Bummer is using modal material which is 100% natural and sustainable. It is derived from the pulp of beechwood trees
What is the experience of their customers?
Customers are enjoying the fitness and softness. Every underwear is less than 60grams weight (60gm is the maximum weight in men boxers). Women’s bikini weighs 35Grams.
What are the profits and margins of this startup?
Their gross margin is roughly about 70%.
Average Order Value
Their average order value comes at Rs 1100 in which shipping costs is Rs 70, Customer Acquisition cost is Rs 550 and final profit is Rs 150.
What is an Equity split in the company?
They are having investors at present as they closed their first venture round in July 2021. Beenext from Singapore and 4 Angel Investors at the valuation of 1.9 Million USD (Rs 9 Crores)
Why does Sulay need sharks?
Sulay believes that Vineeta and Aman Gupta specifically have cracked the code of D2C Market.
Controversy in Pitch | Ashneer Grover vs Bummer
Ashneer asked this question from Sulay and he replied that he needs an offer at any best price. He said that he needs specifically from Vineeta and Aman.
Vineeta “If you get a better deal from Ashneer/ Namita will you prefer or not”?
Sulay “Of Course”
Ashneer “He does not say the same and Ashneer also made a bold statement in which he said that in 3 Years he has made a 3 Billion Company which roughly comes about Rs 20,000 Crores – 20 Crores per day. When He started building the business he was not dependent and explained to Sulay what he will do if Aman and Vineeta will make his brand.
If its marketing pitch then you should said that Fintech investors should be out and said “YEH SAB DOGLAPAN HAI”.
I will remove your DoubleFace, You took funding from Beenex which is Fintech Company and now in Shark Tank you need funding from D2C.
1:1 | Sharks investing in Bummer | Shark Tank India
He has burned his fingers in such business as he lost a good amount of money in the same business. It was a lingerie company that was not able to run and his money was lost in the pool. Anupam believes that the market is very tough and for this reason, he is out from pitch.
He liked the offer and said that Boat sells wearables like Headphones and watches but now Sulay wants to add underwear to the same business. You have done a mistake in which you have spoiled your offer by Disrespecting other entrepreneurs. Now Aman and Namita gave offer.
Aman Gupta and Namita Thapar’s Offer- Rs75 Lakhs for 15% Equity
Orignal Ask- Rs 75 Lakhs for 4% Equity.
Designs can be improved to the mark and your valuation is very high which will not be matched by me. So for this reason Vineeta made her out from Pitch
Counter Offer to Aman Gupta and Namita Thapar
Sulay thanked Aman and Namita for their offer and respected the expertise they will bring on board.
Counter – Rs75 Lakhs for 6% Equity.
Where did the deal meet?
Aman made the last offer of Rs 75 Lakhs for 8% Equity. The final offer made by Sulay was Rs 75 Lakhs for 7.5% Equity. The deal got closed by Aman and Namita at Rs 75 Lakhs for 7.5% Equity.
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