Clothing, wearables and Accessories
MidNight Angels by PC
SEASON 2 : Episode 34
BRAND
MidNight Angels by PC
COMPANY NAME
Night Angels by PC
FOUNDERS
Parina Chugh, Punya Chugh
ORIGNAL ASK
Rs. 75 lakhs for 6% equity at a valuation of Rs. 12.5 crores.
DEAL
No deal made
Midnight Angels by PC is a new, young, and quirky brand of loungewear and travel wear. They promise style and comfort. They have a wide variety of clothes for men, women, kids, and couples, including nightwear, loungewear, tracksuits, joggers, bags, and much more.
Their primary focus is on loungewear & travel wear. MidNight Angels by PC also has a variety of sizes, so every woman can find the one that fits best. Their sizes range from XS to XXL, catering to a wide range of body types.
From the stitching to the fabric selection of each piece, the brand stands for the quality and detail it offers. They provide more colours and patterns than any other brand. All of their products are manufactured in India, contributing to employment in the nation.
They have more than 1000 products available on their website.
Founders & their story
Parina Chugh
Punya Chugh
In 2017, their father’s business was on the verge of shutting down, and they were facing survival problems because of a lack of financial resources.
That’s when they decided to do something for their family & thought to start a nightwear brand, knowing that there are not many brands that offer loungewear for plus-size women.
They gave it a try, created some samples with the help of a nearby tailor, posted the sample photos in Facebook groups they were part of, and received many inquiries in a day, and they were able to make Rs. 80,000 in the first two days itself.
This is how they started & founded their own brand; since then, there has been no looking back for the sisters.
About the company:
The brand was founded by two sisters in 2017, and since then, they have supplied their products to more than 100 celebrities & 25,000 customers.
The brand is devoted to lowering its environmental effect and uses sustainable materials whenever possible. As a result, customers may enjoy their elegant and comfy pyjama sets while helping to create a better, more sustainable society.
MidNight Angels by PC provides a selection of stylish and comfy pyjama sets that are ideal for anybody who loves both style and comfort. With an emphasis on quality, sustainability, and superior customer service, this company is certain to become a favourite among those seeking trendy and comfy sleepwear.
Revenue:
They made Rs. 80,000 in the first two days.
In FY 21-22, their sales were Rs. 1.80 crores and year-to-date sales in FY 22-23 are Rs. 1 crore.
The projected sales for this year are Rs. 4 crores. 100% of sales are from their own website.
Last month’s sales were Rs. 20 lakhs with a marketing spend of Rs. 4.5 lakhs every month.
Their average value order is Rs. 2500, and the Gross Margin is 83%, with a net profit of 20% last month and a repeat rate of 15%.
Founder’s Ask
Rs. 75 lakhs for 6% equity at a valuation of Rs. 12.5 crores.
Offers:
Anupam & Peyush offered Rs. 25 lakhs for 20% equity (10% each) at a valuation of Rs. 1.25 crores & Rs. 50 lakhs debt at 12% interest.
Founder’s Counter Offer
Rs. 75 lakhs for 15% equity at a valuation of Rs. 5 crores.
Final Deal
No deal was made as sharks didn’t accept the counter offer & founders were not ready to take the debt.
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