[Shark Tank Season 6 Episode 4] Shark Hung Anh Gave Numerous Praises For Couple Of 16-Year-Old Entrepreneur
06 Dec, 2023 (GMT+7)Export To PDF
After 6 months of launching their first collection, Phuc Khang and Khanh Linh - a pair of American international students who have not yet graduated from high school - earned 500 million VND in revenue and a profit of up to 28%. Shark Hung Anh gave many compliments to the passion and enthusiasm of the young Startup couple but was still worried and advised two Startups to prioritize completing their educational program.
A couples of young international students with a strong passion for entrepreneurship, wishing to raise 300 million VND
Episode 4 of Shark Tank Vietnam season 6 has the appearance of Phuc Khang - Founder who just turned 18 years old and Khanh Linh - 16-year-old art director. This pair of American international students came to the program with the high-end fashion brand L'arlesienne with a product line consisting of leather bags with unique designs. Phuc Khang shared that the L'arlesienne brand launched its first collection at the Vietnam Fine Arts Museum and after 6 months, the total number of them sold was 95%, reaching more than 500 million VND in revenue, profit margin up to 28%.
On the air of Shark Tank Vietnam, Phuc Khang and Khanh Linh want to raise 300 million VND for 15% of shares with the purpose of investing in the next collection called "Le Chat", the expected production cost is 1 billion VND, revenue is 2.4 billion VND with 400 products
When asked about the difficulties of being a very young Startup, Phuc Khang admitted that currently both business leaders have not studied at university and do not have much experience in business design and business management. However, because they are still very young and have a passion for fashion, their "dare to think, dare to do" ideas will be the strength that sets them apart from other competitors on the market. Phuc Khang also shared that L'arlesienne is looking for a strategic investor who can help the brand grow in the long term.
However, the learning aspect of the young Startups still worried the Sharks. Regarding this, Phuc Khang explained: "Currently, from the beginning of the year until June, we will focus on design. In June, when summer vacation begins, we will produce samples. After the sample production is complete, we will begin to survey the market to open for sale at the end of the year, which is also the occasion when many businesses begin to release goods, and people's shopping appetites are significant."
Khanh Linh and Phuc Khang - a pair of American international students raised 300 million in capital at Shark Tank
Shark Hung Anh highly appreciated the entrepreneurial spirit of Startups and advised the pair of international students to still prioritize completing their studies.
Although the sharing from Phuc Khang and Khanh Linh was very sincere and realistic, Shark Hung Anh still had many concerns and refused to invest on the grounds that the two Startups needed to focus on studying.
He bluntly shared: “I highly appreciate your passion and desire to start a business. The product is very incredible. I can see that you have very good qualities. In just 5-7 years after graduating, you will do even better. Now the first thing is to focus on studying. The most vital thing for you is to go to school, finish school and then work."
Shark Hung Anh highly appreciated the entrepreneurial spirit of young Startups and advises the pair of international students to prioritize completing their studies
L'arlesienne successfully raised capital
Similarly, Shark Hung Anh, Shark Tue Lam, Shark Binh and Shark Louis were all uneasy with the two Startups that were still in school and all refused to invest.
On the other hand, Shark Hung believes that young startups are very talented and should be encouraged: "I have several dozen businesses and still go to school normally, if we know how to arrange it. In this season of Shark Tank, I represent an investment fund whose company is responsible for helping us with post-investment management. I really want to give you more business administration knowledge." Besides, Shark Hung also proposed to invest 300 million VND for 34% of shares. However, after consideration, Phuc Khang negotiated with Shark Hung to invest 300 million VND in exchange for 25% of the company's shares. Finally, Shark Hung continued to offer a 30% stake for 300 million VND and this young startup agreed, closing a successful capital call.
The Sharks are looking at L'arlesienne products
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