Oraki

Cynthia Savard, from Montreal, Quebec, founder of ORAKI, a sustainable lifestyle clothing line, asked for $1 million for 10% of her company. Items sell for $65 to $125, made from 64 different sustainable fabrics using recycled materials like plastic bottles, fishnets, and mattresses along with bio-based fibres such as wood pulp and corn; the company is made in Canada and Cynthia Savard started it in 2018 with $40,000 of her own money from a previous business. Sales reached $13 million last year, up from $10 million the year before and expected to be about $10 million again this year, achieved entirely through organic, word-of-mouth marketing with zero ad spend, at a 40% gross margin and 30% net margin, with $3.4 million in the bank and no debt; about 20% of sales come from outside Quebec.

Manjit Minhas went out, suggesting Cynthia Savard hire a management team rather than take on an equity partner. Wes Edens, Brian Scudamore, and Arlene Dickinson also went out without offers, praising the business but declining to invest. Michele Romanow offered $1,000,000 for 10% with a 3% royalty until her capital was repaid, and Cynthia Savard accepted.

Oraki is still operating and sells through its website.