Chic Marie

Marie Philip Simard, from Montreal, asked for $300,000 for 10% of Chic Marie, a clothing rental subscription company. The company offers two monthly plans, $55 for casual wear and $95 for business wear, delivering up to nine items per box with dry cleaning and shipping included, sourced from 40 supplier designers with a goal to reach 120. The company launched about 14 months earlier, did $500,000 in its first year, was now generating $100,000 per month in recurring revenue, and projected $4,000,000 for the year. Recent months were profitable at 10% net margin, expected to reach 25% net margin by year end, and the company had completed a seed round at a higher valuation and carried about $100,000 in debt through a BDC loan for an AI matching algorithm called Scarlett.

Joe Mimran, Jim Treliving, Michael Wekerle, and Manjit Minhas each offered $300,000 for 10%, with Michele Romanow joining Joe Mimran's offer and Jim Treliving later joining that combined offer, while Manjit Minhas also brought in Jim Treliving before he switched. Arlene Dickinson offered $300,000 but wanted the valuation from the recent seed round rather than the pitched valuation. Marie Philip Simard ultimately accepted the joint offer of $300,000 for 10% from Jim Treliving, Michele Romanow, and Joe Mimran.

We haven’t confirmed whether Chic Marie is still operating.