Mave & Chez

Victoria Marshman and Dani Kagan, from Toronto, ON, asked for $300,000 for 10% of Mave & Chez, a luxury ergonomic slipper brand with nine ergonomic features including a deep heel cup, high arch support, and a washable insole. The slippers are manufactured at a family-run factory in southern Brazil, cost about $60 to land (working toward $50), and retail for $195; they launched at the end of 2022 with a Kickstarter campaign that raised $51,000, followed by another $50,000 in sales, and have fulfilled over 500 orders in the last three weeks. The founders have already raised $500,000 at a $3 million valuation prior to their Kickstarter campaign.

Wes Hall asked about costs and pricing but made no offer. Arlene Dickinson went out saying the sales did not justify the valuation and raised style concerns. Manjit Minhas went out saying he did not see the value in the premium product today. Michele Romanow offered $300,000 for 20% plus a royalty until her money was returned, then joined with Vincenzo Guzzo for a combined offer of $300,000 for 30% with no royalty; after negotiation the founders accepted $300,000 for 25% from Michele Romanow and Vincenzo Guzzo together.

Mave & Chez is still operating and sells through its website.