Balbea (formerly Mode-ste Ltd.)

Bilal Mashhedi, Aicha Chtourou & Danial Agha
Montreal, QC

The pitch

Bilal Mashhedi, Aicha Chtourou & Danial Agha from Montreal, QC, pitched Balbea (formerly Mode-ste Ltd.) in Season 11, Episode 7, asking the Dragons for $90K for 10% of the company.

Asked for$90K for 10%
Valuation$900Kimplied by the ask
OutcomeNo deal

Offers in the Den

Dragon	Offer	Result
Michael Wekerle	$90,000 for 30% with 10% given free to brand ambassador Saufeeya Goodson	Declined
Michele Romanow	$90,000 for 20%	Withdrawn
Manjit Minhas	No offer, felt the business would do well on its own	Out
Joe Mimran	No offer, did not like the fabric and design quality	Out
Jim Treliving	No offer, felt too cynical from industry experience	Out

Bilal Mashhedi, Aicha Chtourou and Danial Agha, from Montreal, QC, asked for $90,000 for 10% of their modest fashion company Modest. The brand sells contemporary, handmade-in-Canada clothing for women seeking conservative styles, with 12 pieces in their first collection averaging $75 each. The company made $150,000 in sales in its first year, breaking even, with a goal of reaching $300,000 to $500,000 this year. They had invested only $2,000 of their own money and had a partnership with social media influencer Saufeeya Goodson and a new retail deal with a stockist in Malaysia.

Michael Wekerle offered $90,000 for 30%, with 10% given for free to Saufeeya Goodson. Michele Romanow offered $90,000 for 20%. Manjit Minhas, Joe Mimran and Jim Treliving all went out, citing concerns about fabric quality, industry cynicism, and confidence in the founders succeeding alone. The founders tried to negotiate a middle ground with both remaining Dragons, but when they countered by asking for a higher valuation, both Michael Wekerle and Michele Romanow withdrew their offers, leaving no deal.

Pitch details from CBC’s Dragons’ Den pitch page.