Under20s features all the shark tank India episodes on this website. This article is going to be revolving around Farda which is a streetwear fashion startup and got featured on Shark Tank India. You can have a glimpse around the Table of Contents.
If you take me honest then I will feel more comfortable in making a video on this pitch. Do you know why? well, this pitch got started with a rap song.
Introduction to the pitch
This pitch welcomed the sharks by singing a beautiful rap song. Chahat Pahuja and Sanskar Mishra, both 21 years old from Nagpur city are the co-founders and owners of their business Farda. Read this article till the end to know whether they will get funding or not?
What is Farda | Shark Tank India?
This story of Shark Tank India is going to be based on Fashion Startup- Farda. Farda in Urdu means tomorrow and the duo claims to be the future of fashion. Their brand represents premium street culture fashion. Chahat and Sanskar turned their passion into business 6 months ago. They are the pioneers of Nagpur and want to represent their business of India at the global level.
What is their demand for funding from Sharks?
To reach their dream they are asking just for Rs 30 Lakhs with a 10 percent stake in their company. Their company is valued at Rs 3 Crores.
Sharks were impressed with their presentation and appreciated them for the same.
FARDA also displayed an outfit that has been made keeping the shark tank in mind. There is a shark and fishnet on there from where the shark wants to cut and break free, but The shark can’t come out, and then on the back, there is a shark who closed the deal with his money. They have designed this outfit accordingly.
QnA | Sharks asking Farda | Shark Tank India
Shark: Are your products hand painted?
Yes, these products where are displayed are handpainted.
What is your USP- Unique selling proposition?
We offer customization- for example when a customer will come to us and tell his choice which will reflect on his clothing. Not everyone can customize so we design clothes creatively which portray a large audience.
Aman Gupta
“Street Wear Fashion, Can it become mass or is it still niche?
Team Farda ” No it is not a niche market and it has a huge mass. Young and Old Purchase from us”
Where do you get these stitched?
We get these stitched from our hometown- Nagpur
Where do you sell your products?
We’re having our stronghold on Instagram because GenZ is active on this media. Through which we deliver it across India.
What is your present sales status?
It is clocked to Rs 1.3Lakhs. The sales we did is in past 4 months only.
What are your profit margins?
We are dealing at present on profit margins of 130-150%.
How will you increase profits in your business?
When we will deal in bulk our profit margins will also be increased. Customization takes a lot of time so well will increase the price for that. We will raise the price to the levels of our competing brands.
How will you scale your business?
To scale up we will use premier designs and will manufacture in bulk to reach the maximum people at the minimum cost. We have an artist team too which can work in many designs simultaneously but we are not having enough funds to hire them.
Sharks response on this
“At present, your startup is at an early stage. The difference lies in the customization. Children these days need personalized merchandise and they want to bring an Indian Touch.
Farda replies to Sharks
Our design represents Indian Culture with a motive of sustainable art and minimizing waste.
Sharks tried their designs by wearing them.
Sharks 1:1 | Funding to Farda Clothing | Shark Tank India
Ashneer Gupta
I think that you are driven by the glamour of this industry not by the business so I would like to stay out.
Peyush Bansal (Founder Lenskart)
I won’t invest in the same primarily because it’s not my area of interest.
Aman Gupta
I am so close to offering you but I am having a doubt that you guys are too young and what are your future plans.
Farda “It will be a mix and match of all these things but we will not be immediately starting an offline store because this is not our goal. Well, start work on minimal things at the minimum cost”
Aman Gupta and Namita Thapar
” We would like to offer you 30 lakhs for 30 percent of the equity and the reason is a lot of time needs to be invested.”
Anupam Mittal
He backed himself from the offer as he respected Aman and Namita’s offer and said that He was interested but now he knows that these 2 are helping you then I am backing off.
Team Farda ” We want you to join us as we need a mentor. This is our child and we might need to raise funds in the future too. We need a scope for that too. We want the deal for 20%
Namita Thapar
She was stuck to the point of not changing percentage but Aman Grabbed the deal by solo himself and gave them a bag of Rs 30 Lakhs for 20% equity in their startup.
Wait a minute it’s not over, Namita also joined them! 😂
I hope that you readers also feel the story of how they have funded these two youngsters with this amount.
This was the whole story of how they bagged a deal with Sharks in Shark Tank India.
The whole blog was penned by Devansh Kaushal so you can follow him over social media and do check Under20s for more writings. If you liked reading this masterpiece then you can follow us on Instagram, Telegram, and Twitter.
