Poches & Fils

Anthony Vendrame, Nicolas Dubeau and Alexandre Vanier of Montreal, QC asked for $300,000 for 10% of Poches et Fils, a clothing brand selling pocket t-shirts for men, women and children in over 5,000 combinations, delivered online in pizza-box style packaging. The t-shirts retail for $30 and cost about $10.50 to make, with garments produced in Guatemala and pockets added in Montreal; sales split 60% online and 40% wholesale, including national distribution through Simons. The company sold $400,000 in its first year (2015) and $1.8 million the following year, with a 15% online repeat customer rate, projected 2017 sales of $3 to $3.2 million, and outstanding debt including a $225,000 credit line and a $175,000 BDC loan.

Arlene Dickinson said the business was not scalable enough for her. Jim Treliving called it a fad with limited longevity. Manjit Minhas said it was not a mass market product and customer acquisition would be too expensive. Michael Wekerle went out citing personal dislike of pockets. Michele Romanow raised concerns about translating the French brand and about t-shirt quality, and all six Dragons declined to invest, leaving the founders without a deal.

Poches & Fils is still operating and sells through its website.