Limited Edition Sneaker Startup: Find Your Kicks India

Find Your Kicks India is a startup founded by three young entrepreneurs Simardeep Singh, Harshdeep Singh, and Danish Chawla, who are all from Punjab and are 24 years old. The founders are sneaker enthusiasts who have noticed a gap in the market for limited edition sneakers in India. Their startup aims to provide a solution to the problem of limited supply and high demand for these sought-after shoes.

The sneakers sold by Find Your Kicks India are limited edition, and their demand is very high, while the production is low. This has resulted in the resale market for these sneakers, where they are sold at a premium price. However, there are many challenges faced by buyers in the resale market, such as limited choice, limited sizes, and the risk of fake sneakers.

AIM

The aim of Find Your Kicks India is to provide a solution to the problem of limited supply and high demand for limited edition sneakers in India. They aim to offer a reliable reseller aggregator platform where customers can find authentic limited edition sneakers in every size, without the risk of purchasing fake sneakers. Additionally, the startup provides a platform for individuals to sell their limited edition sneakers at a profit. The ultimate goal is to become the go-to platform for limited edition sneakers in India, and to expand their reach through the launch of an app and website.

BUSINESS MODEL & TARGET MARKET

The business model of Find Your Kicks India is based on being a reseller aggregator platform for limited edition sneakers in India. The startup makes money through a commission-based model where they take a percentage of the sale price for every limited edition sneaker sold on their platform.

The target market for Find Your Kicks India is sneaker enthusiasts in India who are looking for authentic limited edition sneakers. This market includes people of all ages who are passionate about sneakers and are willing to pay a premium price for them. The startup's target audience is likely to be individuals who are already familiar with the resale market for limited edition sneakers, as well as those who are new to the market but are interested in purchasing limited edition sneakers.

Find Your Kicks India's target market is also likely to include sneaker collectors and enthusiasts who are looking to sell their limited edition sneakers at a profit. The platform offers a convenient and reliable way for them to sell their sneakers, which could potentially appeal to a wide range of sellers in India.

SALES AND REVENUE

In the last 8 months, the company had a revenue of 26 lakhs, which means they had an average monthly revenue of 3.25 lakhs. The last month's sales were 3.5 lakhs, which suggests that the business is growing steadily.

The Gross Merchandise Value (GMV) of the company is 5.5 crore Indian rupees. This figure indicates the total value of the goods sold on the platform, which means that Find Your Kicks India has facilitated the sale of limited edition sneakers worth 5.5 crore Indian rupees. It is important to note that this figure is not the company's revenue but rather the value of the goods sold on the platform.

The net profit of the company is 17 lakhs, which is the amount of money left after all expenses have been deducted from the revenue. This figure indicates that the company is profitable, which is a positive sign for investors and stakeholders.

The average selling price of the limited edition sneakers sold on the platform is 20,000 Indian rupees, which is relatively high. This suggests that the company is catering to a niche market of sneaker enthusiasts who are willing to pay a premium price for limited edition sneakers.

FUNDING IN SHARK TANKS INDIA

The startup Find Your Kicks India appeared on Shark Tanks India with an initial ask of 50 lakhs for 10% equity. Shark Ashneer Grover and Namita made a counter offer of 50 lakhs at 30% equity. Later on, all the sharks offered 50 lakhs at 30% equity. The owners of Find Your Kicks India gave a counter offer of 50 lakhs for 20% equity, which was countered by all sharks at 50 lakhs for 25% equity.

The final offer was accepted by the owners of Find Your Kicks India, which was a deal with all sharks for 50 lakhs at 25% equity. This means that the startup will receive 50 lakhs in funding in exchange for giving the sharks a 25% stake in the company.