Fashion Spotlight on Bummer: From Shark Tank India

Bummer is a company that makes underwear for young adults, aiming to provide them with comfortable and environmentally friendly innerwear in vibrant colors and creative designs. Their range of modern essential wear is crafted from micro modal fabric, chosen for its eco-friendly and sustainable origins. Sulay highlighted that Bummer’s underwear is extremely lightweight, with boxers weighing under 60 grams and bikinis under 30 grams. They distribute their products on Amazon, Flipkart, Myntra, and their own website.

Click here to visite official website: Bummer

Related: P-Flow ₹ 60 Lakhs for 6% Equity Win on Shark Tank India

The founders of Bummer are Sulay Malav Lavsi. Before starting Bummer, Sulay graduated with a degree in Business Administration from NMIMS and then went on to get a master’s degree from the University of Southern California. He also worked at companies like Infibeam.com and Indie Source, which gave him important experience before he decided to start his own business. Sulay spent two years working hard to create Bummer, using his passion for new ideas and good design to make a brand that connects with today’s customers.

Bummer has made significant progress in the competitive fashion industry, with a net worth of ₹18.75 crores. This reflects the brand’s increasing influence and presence in the market. Offering a range of products priced between ₹400 to ₹1000, Bummer provides accessibility without sacrificing quality, making luxury innerwear accessible to all.

• The founder, Sulay Lavsi, initially asked for ₹75 lakhs for 4% equity, valuing the company at ₹18.75 Crore.
• Ultimately, the sharks, Namita Thapar and Aman Gupta, offered ₹75 lakhs for a 7.5% equity stake, resulting in a valuation of ₹10 Crore.
• When questioned about the company’s margins, Sulay revealed that they have a gross margin of around 70%.
• Bummer has a loyal customer base, with 25%-30% being repeat buyers, and they have achieved a net profit of around INR 150.
• They successfully closed a fundraising round with a valuation of INR 9 Crore, and later justified the doubled valuation due to achieving INR 80 lakh in sales and aiming to double that figure within the next four months.
• After a series of counteroffers and negotiations, the deal was eventually settled at ₹75 lakhs for a 7.5% equity stake.

Post Shark Tank, Bummer experienced significant growth in their customer base, with their monthly revenue increasing 8-fold. In the fiscal year 2021-2022, they achieved around INR 2.45 Crore in revenue and are aiming for INR 10 Crore for the fiscal year 2022-2023 and INR 25 Crore for the fiscal year 2023-2024.

Even though fashion trends change quickly, Bummer is known for being innovative and stylish. People love the unique things Bummer offers and how they always make sure their products are really good. Because of this, Bummer has become really popular among people who love fashion in India. Bummer is making a special mark in the world of innerwear, and its success is inspiring for people who want to start their own fashion businesses. This shows that with a lot of love for what you do and never giving up, you can achieve great things in the fashion world.

Shark Tank India showcases a dynamic platform where aspiring business owners pitch their concepts to influential investors, hoping to gain the support and resources needed to scale their enterprises.