What Happened to Bummer After Shark Tank India?
People spend a lot of time purchasing fashion accessories. But they don’t spend one-tenth of that time choosing underwear. That’s where Bummer comes in place.
Who is the Founder of Bummer?
Sulay Lavsi is the founder of Bummer. He’s from Ahmedabad.
What is Bummer?
Bummer is mainly an underwear brand.
For ages, we’ve been seeing white and black underwear. It’s time to see some change in the innerwear industry. Bummer comes with colorful, quirky underwear that you can flaunt in front of your partner. The bold colors will definitely make you look twice at these underwear.
Did I mention it? You can buy Couple-underwear from Bummer. So, you can both match your underwear.
Bummer Before Shark Tank India?
Bummer was launched in 2020. All the underwear is made from super soft and sustainable micromodal materials. Vineeta Singh really liked the brand name.
After launching Bummer, Sulay took a lot of time choosing the right clothes, and right materials, so that he didn’t compromise on quality. Sulay found a good factory in Delhi. Bummer supplied ₹10 Lakhs worth of machinery to the factory, and the factory will handle the production for the next 12 months.
How much money did he ask for Bummer?
Sulay came to Shark Tank India seeking ₹75 Lakhs for 4% equity in Bummer. Which gives the company a valuation of ₹18.75 Crores. Bummer previously raised money from BEENEXT at a ₹9 Crores valuation.
15,000+ people have tried Bummer underwear in their everyday life.
Their monthly sales are ₹15 Lakhs. The customer ratio is 50 / 50. Meaning, 50% of customer is male, and 50% are female.
Aman Gupta asked him what his differentiator from other underwear companies was. The underwear Bummer provides is softer and it fits better. Also, every piece of underwear weighs less than 60 gm, so basically when someone wears Bummer underwear, he feels like a commando.
Unit Economics of Bummer
The average order value is ₹1100.
Among that, the Making charge is ₹330, Shipping is ₹70, the customer acquisition cost is ₹550, and the profit is ₹150.
So, if you analyze that closely, Bummer isn’t making much profit when someone purchases for the first time. Because the customer acquisition cost is so high. But it can make good profit after the 2nd order.
Equity of Bummer
ESOP Pool 12.5%
Investors x%
Which shark gave Bummer an offer?
Anupam Mittal was the first one to go out. He had previous bad experiences with similar investments which didn’t go well. That’s why he was out.
Veenita Singh was also out.
Aman Gupta was interested in the business. Aman is the founder of BoAt. He knew they both had the same target audience which was 18 – 24. And he knows this market really well. He could replicate the same success he had in BoAt. That’s why he was even more interested.
During the conversation, Sulay mentioned he preferred Aman Gupta and Vineeta Singh as investors. Ashneer Grover didn’t like this and there was quite a scene after that.
But, you know what, these genuine reactions are what keep me interested in the show.
Aman Gupta & Namita Thapar gave the one & only offer. They offered ₹75 Lakhs for 15% equity in the business.
| Offer 1 |
| Aman Gupta & Namita Thapar – ₹75 Lakhs for 15% |
Sulay gave a counteroffer. He wanted ₹75 Lakhs for 6%.
| Company Name | Bummer |
| Founder | Sulay Lavsi |
| Asked Amount | ₹75 Lakhs for 4% |
| Final Deal | ₹75 Lakhs for 7.5% |
| Sharks | Aman Gupta & Namita Thapar |
| Company Net Worth | ₹10 Crores |
| Company Website | bummer.in |
| Company Status | In Business |
What deal did Bummer get in Shark Tank India?
They both negotiated back and forth and finally, the deal was set at ₹75 Lakhs for 7.5%.
