The founders of Rose Buddha, Madeleine Arcand and Maxime Morin (Photo: courtesy)
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Co-founders of sports and loungewear company Rose Buddha turned heads in Los Angeles as they appeared on the show Elevator Pitch.
Not only did they convince an investor to bet on their SME, but they also won a grant of US $ 300,000 paid by the financial group State Farm, sponsor of this American web show which is similar to In the eye of the dragon from Radio-Canada.
“We were very surprised and delighted to receive this scholarship,” explains Maxime Morin in a telephone interview with Deals. It’s like a dream. We never had a scholarship. This is the first time that we have been given money. ”
With her partner Madeleine Arcand, she managed to convince two investors after a one-minute presentation in English, their second language. Very few Quebec companies have had the privilege of trying their luck.
They finally stopped their choice on the offer of Kim Perrel, who made his mark in digital marketing. The American multimillionaire has agreed to donate $ 100,000 to Rose Buddha, which stands out for its eco-responsible and ethical clothing and accessories produced in Quebec.
“We mainly went looking for a mentor,” specifies Maxime Morin. Expertise is priceless. Good advice, that’s all! ”
The leader believes that Kim Perrel will guide them to make sound business decisions in digital marketing. She believes the American was won over by the potential of the casual wear market and Rose Buddha’s approach.
“Sales of leggings have exceeded those of jeans around the world,” explains the Quebecer. It’s a $ 250 billion market. Teleworking has encouraged the sale of beautiful, comfortable clothes. ”
The Gélinas sisters
Rose Buddha, who will celebrate his 5the birthday in October, has the wind in its sails. Its turnover has grown 400% since the start of the pandemic and 1200% since its first year.
In the immediate future, this Montreal company intends to continue its expansion in Quebec by launching new products and by partnering with personalities.
“We have created a lounge clothing collection with Mitsou and Abeille Gélinas which will be launched in October,” says Maxime Morin.
The SME will also present a new men’s pants, its second offered.
“The request came from our customers who wanted to offer Rose Buddha pants to their boyfriend or their father,” says the former actress. We are discovering and exploring this market. We want to improve our range for men. ”
In addition to leggings, hoodies, camisoles and other clothing, the company which also markets bracelets, pineapple fiber bags and biodegradable sunglasses hopes to expand its offer, a project it keeps to itself. for the moment.
In the medium term, it aims to win over customers outside Quebec, who represent 12% of its turnover. Since 95% of its total sales are online, its foundation is established.
“Attacking a new market is very expensive, so we want to do it,” notes Maxime Morin.
With his successful stint last week in California, his company is already in a better position to do so.
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