On the Tank
Heart Up My Sleeves founder Riya by Education is a psychologist turned entrepreneur. Moreover, according to her LinkedIn profile, she has obtained various certifications for the HR role. Interned and worked with companies like Gaotek INC., and Michael Page.
But, taking advantage of her family business knowledge (Indian garment) and experience (as an HR), she started “heart up my sleeves”.
Why started Heart Up My Sleeves?
During the lockdown, on a random day Riya decided to clean her wardrobe just to make her mom happy and what she realized is after having a lot of clothes every time we have to go somewhere we feel like we don’t have any outfit to wear this time. This is the problem of every lady “More the clothes, less they are”.
Moreover, everyone wants a new look and outfit for every occasion. To come up with this problem she decided to make something that could make multiple outfits and looks. hence, Heart Up My Sleeves was born. They make detachable statement sleeves that are unique, reusable, and sustainable.
Also, celebrities like Hansika Motwani and Neha Kakkar have worn their sleeves.
Shark Tank Recap
- About the Product- They make detachable statement sleeves that are unique, reusable, and sustainable.
- Ask- ₹25 lakhs for 10% equity (valuation2.5 crores) with a vision of focusing on detachable collars, capes, and broaches in the next 5 years.
- Offers- Anupam and Vineeta would come together for ₹25 lakhs and 40% equity (valuation 62.5 lakhs)
- Deal- Anupam and Vineeta would come together for 25 lakhs and 30% equity (valuation 83.3 lakhs).
Shark Tank Live
Ask
₹25 lakhs for 10% equity (valuation2.5 crores) with a vision of focusing on detachable collars, capes, and broaches in the next 5 years.
Business Model of Heart Up My Sleeves
Heart Up My Sleeves is a fashion and lifestyle-based D2C brand, dealing in the detachable products category. Therefore, targeting Genz through Social Media Platforms.
Sales and Revenue
Dispatched 1003 orders in 9 months and generated a revenue of 11.5 lakhs from our website. Moreover, we will be available on Nykaa fashion from November 2021.
The cost price is ranging between 700-750.
and, the Selling price on Nykaa is between 1300-2900 which can be reduced by 20%.
Feedbacks from the sharks
- Ashneer- there is nothing like a fast-mover advantage in the fashion industry, at first it looks unique but is ultimately copied and available to everyone. This is a lifestyle business and thus not investable.
- Aman- change the business name. Using the word sleeves in your name would make it rigid to diversify in the future. Also, this is small and not an investable business.
- Namita- Indian women have pear-shaped bodies. So the hips are wider and wearing this would make them look wider. Due to which market becomes smaller.so I am out.
Offer for Heart Up My Sleeves
Anupam and Vineeta would come together for ₹25 lakhs and 40% equity (valuation 62.5 lakhs)
Counter offer
₹25 lakhs for 30% equity (valuation 83.3 crores)
Deal
Anupam and Vineeta would come together for 25 lakhs and 30% equity (valuation 83.3 lakhs).
Heart Up My Sleeves Beyond Tank tank updates
Beyond Tank constantly provide updates and follow-ups about the entrepreneurs from the day they appeared on Shark Tank India.