CMM Pvt Limited is Colour Me Mad which got featured in Shark Tank India. They are making soles for people having foot problems. This article aims at cmm shoes, cmm foot doctor, cmm foot wear,cmm insole, cmm sole, colour me mad footwear flat foot shoes for ladies, arch support slippers for flat feet india, arch support footwear, and heels for long feet.
Introduction to the Pitch | Colour Me Mad Pvt limited- CMM
|Company Name||Colour Me Mad- CMM Footwear|
|Founders||Rajeev Surana and Trishla Surana|
|Net Worth||Rs 8 Lakh|
|Valuation||Rs 4 Crores|
|Business Category||Insoles for Flat Foot and Customized Insoles|
|Funding Asked||Rs 40 Lakhs for 10% Equity|
|Investors||Namita Thapar and Emcure Pharmaceuticals|
|TV Show||Shark Tank India|
|Episode||Season 1 EP33|
|Website||Orthopedic Cork Footwear, Insoles, Pregnancy – CMM – Your Foot Doctor|
They started their pitch by telling sharks their feet are very beautiful so they should not keep them on the floor to avoid them from being dirty. Although it was a filmy dialogue they explained how there are multiple problems of foot pain and the solution to that.
The foot of Trishla is very broad and she was never able to find comfortable footwear. All the time she had to wear uncomfortable footwear and this is the reason which pushed her to form this company CMM Private Limited.
What is Colour Me Mad -CMM Footwear? | Shark Tank India
CMM is a foot tech company and they make world-class orthopedic foot soles. They have launched customized footwear which you can make in 10 minutes, you will be surprised to know that this is going to be the first time in India.
Rajeev Surana and Trishla Surana are the co-founders of Colour Me Mad Pvt Ltd.
Rajeev Surana is a 15Years experienced marathon runner and whenever he used to run so his foot shakes. CMM team evaluated him then he came to know that his feet are clearly flat feet and gave him smooth insoles through which now he can easily run without any discomfort.
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What is their ask for funding from Sharks?
They have asked Rs40 Lakhs for 10% Equity and the valuation of their company is Rs4 Crores.
QnA | Sharks asking CMM | Shark Tank India
Does this problem come in old age?
In India 2 out of 5 people are flat-footed India. This problem does not depend on age as due to many lifestyle changes this can arise in the twenties too. Ladies suffer more problems than men.
What is special in their shoes?
They are having changeable soles which are very good for hygiene purposes. You can wash their soles.
What is Flat Feet Deformity?
Flat feet deformity is genetic and in normal people, as their posture is not correct so their arch drops and it becomes flat feet at a certain age. The loss lies here as our arch acts as a shock absorber and if it will not work so pressure from the ground is will directly go to the heel which will affect your knees and result in pain in the lower back.
Why major brands like Bata and Adidas are not working on this?
CMM earlier was working on lifestyle wear and when they used to display their products in the exhibition. There every second lady use to ask that there is a pain in her foot and demanded Doctor Chappals. There are many pains faced by women during pregnancy and they also met 15-20 Top gynecologists who got impressed by the product.
What are their sales for 1 Year?
The sales of the present year are Rs8 Lakhs.
What is the sales split of CMM?
They have made most of the sales in the B2C Model.
Who are the prior investors?
There is only one angel investor who is a doctor and holds 1% Equity in the company by investing Rs4 Lakhs.
Will their product work for Women Heels footwear?
They are going to launch that product soon as heels have a high market cap and will solve the problem.
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1:1 | Sharks investing in CMM Footwear | Shark Tank India
He feels that there are already many problems in the lives of Indians so this flat feet deformity will be lying on their list at last. There are many such problems. He is out,
This is a real problem and peyush himself is the customer of the same product. The biggest problem lies here is scalability making this affordable. They are in the wrong niche by getting into shoes. He suggested they make customizable soles for the best price and set its supply chain.
Today Peyush is out and suggested they raise 4-5 Million dollars
He is unable to understand the problem accurately and believes that this is not a big problem. If it would be a big problem then someone big player like Adidas and puma might be working on this.
Ashneer is out.
He liked the product as they identified the problem. Anupam agreed on the point that shoes are not their product they should work on insoles. Today he is out and wished them all the best.
She is very interested in their business and will not be a passive investor. Namita will give time, expertise, and network
Offer- Rs40 Lakhs for 25% Equity.
Rajeev and Trishla’s offer- Rs40 Lakhs for 20% Equity.
Where did the deal meet?
CMM Footwear deal got closed by Namita Thapar at 25% Equity by investing Rs40 Lakhs in the company.
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This was the whole story of CMM Footwear This article was penned by Devansh, if you liked this story you can follow him over Instagram and Join us now on Instagram, Telegram, and Twitter