“Shahtaj Qaiser Seeks 8 Million PKR for 15% Equity on Shark Tank Pakistan”
Shahtaj Qaiser the founder of Shahtaj Qaiser is working with her mother for the last 4 years. Founder said that in my opinion fashion is a universal language which transcends different cultures and traditions. It gives all of us a great opportunity to show our creativity and that’s how I got this opportunity by taking an admission in Pakistan Institute of Fashion and Design Lahore and graduated as a textile designer. She asked for 80 Lacs PKR for 15% equity.
She is the only one who holds 100% equity and her mother is doing all the production work for 10% equity. Shark Romanna asked her how much time do you take to make these? Founder said that the minimum time I take is 10 days, maximum time I take is 25 days for formals and 30-40 days for bridals and formals. Prices in formals start from PKR 40k and above and our price in bridals starts from 2 Lacs PKR – 8 Lacs PKR.
Total revenue of 4 years is Rs. 3.6 Cr PKR breakdown of this is, in the first year it was 80 Lacs, in the second year the revenue was 1.2 Cr PKR, in the third year the revenue was dropped to 1 Cr PKR and currently this year the revenue is 60 Lacs PKR.
Two Sharks are out for today because they said that you can become a niche business, if it is a niche business then of course create a small business volume wise but then make it very high margin. If you do customizations then charge for those customizations and if you want to sell globally through platforms then you will have to standardize your products but we are sure you will figure out which way you have to go, but for today we are out but we wish you all the best.
Shark Usman said that I feel like potential is there if it is structured out properly and more focus is given to international markets. You have demanded 80 Lacs PKR but I would like to offer you 40 Lacs PKR for 20% equity and PKR 40 Lacs line of credit with 7% royalty. But the founder is not satisfied with the offer she said can we just have PKR 80 Lacs for 25% equity. Shark Usman’s revised offer is PKR 50 Lacs for 20% equity and PKR 30 Lacs line of credit with 7% royalty. Both two Sharks Romanna and Faisal also joined the offer they said that the founder has potential so they gave her the deal and the deal is closed.
Its not the startup, its mainly a business that could earn good profit but scalability is difficult. As a founder she has to think what could be other revenue stream that could make it scalable.
Her presentation and honestly is amazing through out the pitch. Sharks invested in her because of her confidence and they think she could do something big.
https://www.shahtajqaiser.com/?srsltid=AfmBOoqgqslG4i0X5im8kQ0sU7DpxCzmKJLJCPMO0ytxVf6C98C2LvyK
https://www.instagram.com/shahtaj.qaiser/?hl=en
Sumbal is shark tank enthusiast, ever since the show started airing, she has followed it. She likes writing and researching about startups. She is also helping a few startups scale.
