Transcript

00:00 Next up is a fashion item that is as functional as it is stylish. Hi shars. My name is Brandon and my name is marcelis and we're asking for $150,000 in exchange for 10% of our company baob. We are two hardworking professionals living in New York City who just love to wear Polo shirts. It's almost like our uniform but we got tired and frustrated with how they failed us after only a few wears and washes and you guys know exactly what he's talking about when your shirt Fades and goes from classy to ashy or when it shrinks up in the wash and your large turns into aium. Oh. My God I hate SCH mediums or when your collar bacons and curls that's something that we call bacon collar. So we set out on a mission to solve all these problems and more through using design technology and Innovation and that's why we created the babab polo shirt. The perfect polo shirt. The babab polo shirt is made from the best cotton in the world Peruvian Puma cotton now through our proprietary fabrication process called beotch. It makes this shirt completely resistant to stains like coffee coming right up wow w wow wine did you order. P Noir I did I did wow not the catchup. No I used to always hate when some something like this would happen like I said not the ketchup no have to catch up. Here. You go bro absolutely wow wow sharks when I do decide to wash it. It's not going to shrink or fade and with our patent pending stay flat collar. We keep collars looking great for a really long time sharks.
01:54 Let's take a bite out of this 30 billion Men's Wear industry and join us in making undeniably better p shirts all right very cool great presentation and meanwhile I want to make sure that I see you guys so. I'm going to go ahead and clean off my glasses with this hidden microfiber cloth. That's on the inside oh you're kidding just to make sure we we can see each other. That's so smart that is yeah. That is a cool idea oh. The material is great nice black polo see all black. You have a black polo for you there. Oh and it's a zipper so guys is this 100% pure cotton. So it's 98% Peruvian Puma cotton and then there's 2% stretch and what do you charge for it. We charge $98 what stops the catchup from staining the white shirt yeah. So that's the botch so it's a fabric. It's a treatment uh when we produce the fabric of the shirt that's added uh that protects the shirt. My biggest pet peeve with polo shirts is the collars yes the bacon collar right that is such a great idea and I'm glad you brought that out we actually have a provisional patent on our stayf flat. Collar can you tell us what's your background.
02:59 What did you used to do before for this and same with you yeah. So I worked at a media company. I did Partnerships uh media Partnerships so Hurst media is one of them and also travel zoo and Brandon what do you do so. I worked at companies like American Express managing their mobile app. When did you start this business. So we actually did a uh a crowdfunding campaign to get the funding behind the research and development. Back in uh 2017 you did a crowdfunding campaign for the research. Yes how much did you raise. It was 32,000. That's brilliant you had to deliver a product right yeah. We delivered the product so we pre-old uh shts for that. You're saying you're worth 1.5 million that means that you must have sold within the last year $800,000 worth of product and so uh we've done 85,000 in gross revenue. That's it that's it yeah because uh we're not VC backed or anything. We had to put our own money and reinvest into how much of your own money have you put in about 35,000. Maybe you're not worth a million and a half. No really well. I never get upset crazy valuation. I believe $32,000 worth of inventory. So wow is all 800,000 right but being digital marketers. We understand our customer. We understand the data sets and where we can go and and the more we turn up our digital ad before we argue about your valuation.
04:18 They invested in a company last year called buttercloth MH okay and we've done about $3.5 Million worth of sales. This is fascinating to me tell me how you spent 32,000 to create a proprietary material. So the proprietary uh element of of the shirt is is BoTech. What is that stains and OD we own the name behind beotch. There's a lot of different technologies that you can try to piece together. Different things that I want to be really clear on that what you're asking me to invest in is you two guys and the brand yes not in a proprietary material. No no correct so guys. If I go online and and just search polos. There are thousands of options Cho okay. If I go into retail. There are hundreds of choices I can make at different price points with different brands absolutely some Brands very well known globally. Then there's bab right bobab bobab. Another problem bobab. What bobab. It's it's the tree of life. In Africa. We wanted to pick a name that are represent name. People can pronounce. Let's go with that look guys. This is a story about a very special polo shirt in a really competitive market really comp so in the last two months we've done 35,000 so tell us how you sold no wait so tell us how you sold 35,000 to Kevin's point.
05:43 You have to communicate that and translate that into sales tell us how you're doing that our cost per acquisition or cost per sale is $38. We sell primarily online how are people finding you uh. So. It's it's on Facebook ads and we've also some recent press uh from for being one of the best polo shirts to buy this summer. There's nothing special about the shirt in regards to it can be done by any and everybody. But I think that you've made slight adjustments to make something really great cuz. The shirt is a great shirt but you have a $1.5 million valuation there what is the reasoning for that. So we have more inventory coming and we're looking to sell a lot more for the and close the year out at 400,000. So we did a three times multiple of that of what of of the three and a half SI cuz we're going to get there. Uh at the end of the year I have learned to not listen to Damon and love the clothing business. We're doing really well with buttercloth and we're about to introduce a polo. So it would be competitive for me.
06:42 I'm out okay is this fulltime for you guys. Now it is fulltime and you guys are still based in New York. We're based in New York. How are you living occasionally. We've like paid ourselves with nothing serious. If there's a Consulting opportunities. We may take that what kind of Consulting so digital uh customer acquisition. Generally uh the important part right that I mean it's great product but how you sell digitally makes or breaks this company and what you haven't done is convince us that that's your secret sauce that you guys are experts in that category. I'm a tech guide sell me on what you can do technologically.
07:16 So we we're building. Community online every customer. We're reaching out to them getting feedback. Our repeat customer rate is around 25%. How is it just Facebook ads and then you just stay connected with them via email or yeah so and let's not over complicate this right and that's the beauty Beauty about digital right. It levels the playing field for every company and so we're taking the tools and our knowledge and experience and applying it to our business. Look you've done a great job in explaining the opportunity. But you have a pretty hard road ahead explaining the difference between this and all the other competitors. I'm not going to take the journey. I'm out you still have other sharks so guys you've come up with a great product. But the sales right now that's the only hard data that I can go off of. And I'm over here wrestling with the valuation and then I have to just believe you're a good digital marketer.
08:05 I again I love the shirt but I just don't think it's there for me. I'm out um. I think you guys are doing everything right. Like you hit every single thing spot on. You added the repellent for the stains. You added the wiping cloth which I just love. I will definitely be a customer and unfortunately here I just don't think that this is right for me for those Reasons. I'm out guys we so we we were deciding. I tried to get to the heart of your digital marketing skills right because that's what's going to make or break you. I' I've been begging to get it out of you and I just haven't been able to and I was looking for it. I was right there closable and you didn't come at me and close me so for those Reasons. I'm out we're done here guys thank you very much guys congrats thank you for your time. Good luck great shirt thanks good luck guys good luck so. I'm going to say this. I thought we did the perfect pitch. I'm still trying to process how we didn't get a deal from having the perfect Polo um and our experience behind uh the digital side as well. But that's kind of how I feel right now.