Aditya Khanna<\/li>\n<\/ul>\n\n\n\nAssembly offers functional, well-designed, and budget-friendly hardshell backpacks with added laptop compartments for luggage protection. Their unique selling point lies in the blend of innovative design and practical functionality. With a customer base of 2 lakhs, they are currently raising 15 crores at a pre-money valuation of 70 crores. Most of their manufacturing, approximately 90%, is outsourced to Mohit\u2019s family business. They distribute their products through various channels, with 40% sales on their own website, 50% through online marketplaces, and 10% through B2B channels. Their product line consists of 10-11 different SKUs, catering to diverse consumer needs.<\/p>\n\n\n\n
About the company<\/strong><\/p>\n\n\n\nAssembly is an emerging luggage label based in Gurgaon, with a focus on enhancing the travel experience through innovative product design. Founded in 2019, they understand the intricacies involved in luggage construction, where various components come together on the assembly line to create a functional piece. They believe that every part, be it the trolley, wheels, or zipper, plays a crucial role, and without any one of them, the luggage is incomplete. Recognizing the significance of the assembly department in bringing these components together, they chose the name ‘Assembly’ for their label. Their guiding principle emphasizes a meticulous attention to detail and an in-depth understanding of luggage design and construction.<\/p>\n\n\n\n
Revenue<\/strong><\/p>\n\n\n\nThe price of their cabin baggage is set at 6000. Their future target is to achieve annual revenue of 80 crores within the next 18-24 months. Projected sales for FY 23-24 are expected to range between 25-30 crores, with sales until October 2023 reaching 11.5 crores. For FY 22-23, sales amounted to 11 crores, with net sales in October 2023 totalling 2 crores.<\/p>\n\n\n\n
Founders\u2019 Ask <\/strong><\/p>\n\n\n\n85 lakhs for 1% equity at the valuation of Rs. 85 crores.<\/strong><\/p>\n\n\n\nOffers:<\/strong><\/p>\n\n\n\nAnupam\u2019s offer: 85 lakhs for 2% equity at the valuation of Rs. 42.5 croresand 1% royalty until 1.28 crores is recouped.<\/p>\n\n\n\n
Anupam\u2019s revised offer: 85 lakhs for 1% equity at the valuation of Rs. 85 croresand 1% royalty until 1.28 crores is recouped.<\/p>\n\n\n\n
No Deal<\/strong><\/p>\n\n\n\nReasons for no deal<\/strong><\/p>\n\n\n\nAnupam: The expectations of the deal did not match valuation wise.<\/p>\n\n\n\n
Vineeta: The founders did not speak about the brand value.<\/p>\n\n\n\n
Aman: They need to work on the branding and design.<\/p>\n\n\n\n
Namita: The designs are too subtle and do not stand out.<\/p>\n\n\n\n
Ritesh: He was of a similar opinion regarding establishing a brand.<\/p>\n\n\n\n