Zuvaa is a company that connects customers with amazing designers that produce African-inspired clothing and accessories. The company was pitched by Kelechi Anyadiegwu during
Shark Tank Zuvaa Update
- Entrepreneurs: Kelechi Anyadiegwu
- Business: African-inspired fashion and accessories
- Ask: $460,000 for 10% equity
- Result: No deal
- Sharks: None
Kelechi told the sharks that designers can partner up with Zuvaa and sell their designs on the platform after submitting a list of sample products. Once the samples are approved, Zuvaa can either approve or reject the designer’s access to the platform and that is how a partnership is generally formed.
After discussing the impressive quality of the designs on Zuvaa, Kelechi informed the sharks that she turned an initial investment of $500 into more than $2 million in sales for her platform in about two years.
Zuvaa’s revenue is generated through monthly fees and commissions. The monthly fee for a partnership with an accepted designer is $50. There is also a 17% commission fee on any items that are sold, which Zuvaa collects after the transaction is completed.
Some of the sharks had concerns about the valuation that Kelechi had placed on her company. This caused Mark Cuban decided and guest shark Sara Blakely to drop out.
Eventually, the remaining sharks also dropped out with one important exception – Kevin O’Leary. He decided to offer $460,000 as a loan in exchange for 10% equity, but Kelechi quickly rejected the offer.
After leaving the tank without a deal, let’s get a Zuvaa update to see whether the company has grown since appearing on
While Zuvaa still has an online presence, it appears that it went out of business somewhere around 2019.
This will be our final Zuvva update.
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You can find the other company updates from Season 9 Episode 19 here:
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