When it comes to fashion dresses, we only think it needs to be revealing. But we don’t realize people who belong to conservative families want fashionable dress as well.
To tackle this problem, Sana Farheen Shaikh came up with a fashion brand called Forever Modest. This fashion brand will mainly give different options in modest hijab, office attire, sportswear, casual wear, etc.
Sana realized many brands are doing this modest fashion outside of India, but they are too expensive. That’s why to keep the pricing part reasonable she decided to make her own brand Forever Modest.
With Forever Modest you’ll get different styles and sizes at an affordable price. Price ranges from ₹1499 to ₹3000.
Want to some interesting facts about Sana?
Sana is 23 years old and she’s a fencing champion. How cool is that?
Sana was into sports and she couldn’t find any modest sportswear herself. That’s when she thought of starting something in the modest segment to help other Sanas like her. In 2017 she first thought of this idea. But it took another 4 years for her to execute this.
Sana came to Shark Tank India seeking ₹20 Lakhs in exchange for 10% equity in the company. Which gives the company a valuation of ₹2 Crores.
She has an Instagram page where she showcases her products and it has a whopping 24k followers.
|2021 – 2022||₹12 Lakhs|
|2022 – 2023 (Till Date)||₹15.61 Lakhs|
Last Month Sales ₹4.2 Lakhs
Forever Modest is doing both B2B and B2C models. But currently, most of the sales are coming from B2B. It’s shipping products outside of India. Currently, the target audience age group is 17 to 30.
Namita Thapar was quite interested and she gave the 1st offer. Her offer was ₹5 Lakhs for 5% equity of the company and ₹15 Lakhs debt at 12% interest.
Aman Gupta was out of the deal. He was just concerned about the designs used in Forever Modest. Because he found some similarities with Adidas and warned Sana about the trademark issues.
Sana wanted to make this a multibillion $ company. Her confidence and sweetness impressed all the sharks.
Amit Jain was impressed and gave the 2nd offer. Which was ₹20 Lakhs for 20% of the company.
Vineeta Singh was also interested in the brand. She joined Amit Jains’ offer which was ₹20 Lakhs for 20% of the company.
Peyush Bansal was out of this deal. He didn’t give any offers. He thought Sana already had some good offers on the table that she could consider. Therefore, he was out.
Anupam Mittal thought Sana needed more guidance to grow this business. He thought at this stage of the business she shouldn’t take any debt. Anupam wanted to join Namita’s offer but the debt was off. So the revised offer from them was ₹20 Lakhs for 20% of the company.
|Offer 1||Offer 2|
|Namita Thapar & Anupam Mittal – ₹20 Lakhs for 20%||Amit Jain & Vineeta Singh – ₹20 Lakhs for 20%|
Now Sana had 2 offers, from 4 sharks. She was happy and wanted some time to think about the offers.
She proposed a counteroffer. As the valuation and offer were basically the same, she wanted all 4 sharks. It’ll be ₹5 Lakhs for 5% of the company for each of the 4 sharks.
|Company Name||Forever Modest|
|Founder||Sana Farheen Shaikh|
|Asked Amount||₹20 Lakhs for 10%|
|Final Deal||₹20 Lakhs for 20%|
|Sharks||Namita Thapar, Anupam Mittal, Amit Jain & Vineeta Singh|
|Current Net Worth||₹1 Crore|
|Company Status||In Business|
As soon as she accepted the deal, it was revealed that it was the 100th deal of the season. It was such a joyful moment to witness.