$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Monica Ly from Calgary, AB, pitched Blogger Armoire in Season 19, Episode 4, asking the Dragons for $4M for 10% of the company.
- Asked for$4M for 10%
- Valuation$40Mimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Arlene Dickinson | Concerned about lack of credibility and unclear business model | Out |
| Manjit Minhas | Concerned about supply chain control | Out |
| Brian Scudamore | Concerned about franchise quality control and reviews | Out |
| Michele Romanow | Valuation too high | Out |
| Simu Liu | Valuation too high, business model unclear | Out |
Monica Lee, of Edmonton, Alberta, sought $4 million for 10% of Blogger Armoire, a luxury designer consignment franchise handling shoes, bags, clothes, accessories, jewellery and art on a 40% commission basis, with a 60-day consignment term. The company operates 10 brick-and-mortar stores in Alberta and BC with 10 more franchise stores planned for 2025, reported 2023 sales of $19 million with a claimed 60% gross margin, and charges franchisees a $50,000 initial fee plus a 25% royalty. Monica Lee described a proprietary sourcing advantage involving Japanese consignors but declined to disclose details, and the Dragons noted inconsistencies in the stated profit calculations and a low 2.8 out of 5 average customer review score.
Arlene Dickinson, Manjit Minhas, and Brian Scudamore went out citing concerns about credibility, supply chain control, and franchise quality control respectively. Michele Romanow and Simu Liu both felt the valuation was too high and the business model unclear. No deal was made.
Pitch details from CBC’s Dragons’ Den pitch page.
Blogger Armoire today
- StatusIn businessLast checked September 2026
Blogger Armoire is still operating and sells through its website.