Rose Buddha impresses in the United States
The founders of Rose Buddha, Madeleine Arcand and Maxime Morin (Photo: courtesy)
The co-founders of activewear and loungewear company Rose Buddha turned heads in Los Angeles while appearing on 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 Dans l' Dragon's Eye of Radio-Canada.
“We were very surprised and delighted to receive this scholarship,” explained Maxime Morin in a telephone interview with Les Affaires. 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 settled on the offer of Kim Perrel, who has made her 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,” says Maxime Morin. Expertise is priceless. Good advice, that's all!
The leader believes that Kim Perrel will be able to guide them to make sound business decisions in digital marketing. She believes the American was seduced by the potential of the casual wear market and Rose Buddha's approach
“Sales of leggings have exceeded those of jeans worldwide,” explains the Quebecer. It's a $250 billion market. Teleworking has promoted the sale of beautiful, comfortable clothes.”
The Gélinas sisters
Rose Buddha, which will celebrate its 5th anniversary in October, has the wind in its sails. Its turnover has grown by 400% since the start of the pandemic and by 1200% since its first year.
In the immediate term, this Montreal company intends to continue its expansion in Quebec by launching new products and partnering with personalities.
“We have created a collection of lounge clothes with Mitsou and Abeille Gélinas which will be launched in October,” says Maxime Morin.
The SME will also present new men's pants, its second offered.
“The request came from our clients who wanted to give Rose Buddha pants to their boyfriend or their father,” says the former actress. We are in the process of discovering and exploring this market. We want to improve our range for men.”
In addition to leggings, hoodies, tank tops and other clothing, the company, which also markets bracelets, pineapple fiber bags and biodegradable sunglasses, hopes to expand its offer, a project it keep it to herself for now.
It aims in the medium term to win customers outside Quebec, who represent 12% of its turnover. Since 95% of its total sales are online, its foundations are established.
“Attacking a new market is very expensive, so we want to do it,” notes Maxime Morin.
With his successful stint in California last week, his company is already in a better position to make it happen.
