Biography of Jibran Rahim: Founder and CEO of Cobblers
Cartel- Entrepreneur
Cobblers Cartel: Transforming Pakistan's Footwear Industry
Cobblers Cartel, a luxury footwear brand, is the brainchild
of Jibran Rahim, entrepreneurs who set out to revolutionize the footwear market
in Pakistan. Their goal was clear: to create a high-quality, handcrafted
footwear line that offers affordable alternatives to expensive international
brands while maintaining a focus on craftsmanship and exclusivity. The brand's
unique positioning is all about offering luxury at a reasonable price, catering
to a niche market that values quality and design over mass-produced footwear.
The Genesis of Cobblers Cartel
Founded in 2018, Cobblers Cartel was born out of Jibran and
Shayan’s shared passion for shoes and craftsmanship. They realized there was a
gap in the Pakistani market for premium, locally made footwear that could
compete with international luxury brands. With a vision to provide consumers
with stylish, durable, and exclusive shoes, they set up Cobblers Cartel to
showcase the art of fine shoemaking in Pakistan. The company quickly gained
attention for its quality products and attention to detail, making it stand out
in the competitive footwear industry.
Pitching on Shark Tank Pakistan
In their journey to scale their business, Jibran and Shayan
appeared on the popular show Shark Tank Pakistan, where entrepreneurs pitch
their ideas to investors. The duo asked for Rs. 85 lacs in exchange for 10%
equity, valuing their company at Rs. 8.5 crore. Despite the premium pricing of
their handcrafted shoes, they were confident in the brand’s potential for
growth. Cobblers Cartel’s unique selling point—luxury footwear with a focus on
local craftsmanship—impressed the investors.
Securing Investment from Usman Bashir
During the Shark Tank Pakistan pitch, the founders’ vision
and the business’s potential were recognized by Shark Usman Bashir, a seasoned
investor. Usman saw the long-term value in Cobblers Cartel and offered Rs. 85
lacs for 20% equity in the company, along with an 80% royalty on profits. The
deal reflected his confidence in the brand’s future, understanding that the
luxury footwear business would thrive with the right marketing strategy and
creative direction. This partnership marked a significant milestone in the
company’s growth, giving Cobblers Cartel the resources to expand and refine its
operations.
Growth and Revenue Milestones
Since its inception, Cobblers Cartel has made impressive
strides in the market. By 2024, the company had generated a total of Rs. 11
crore in revenue, with Rs. 3 crore alone in the current year. The brand's
success is largely attributed to its commitment to quality, customer
satisfaction, and the strong demand for premium, locally crafted footwear. The
average order value of Rs. 7,500 demonstrates that consumers are willing to
invest in high-quality, exclusive footwear, proving there is a growing market
for luxury products in Pakistan.
Financial Performance and Profit Margins
Cobblers Cartel’s financial performance showcases the
company’s profitability and scalability. With a gross margin of 52% and a net
profit of 27%, the brand is operating at a healthy profit level, which is a
strong indicator of its business model’s sustainability. These margins are a
result of the company’s focus on high-quality materials and efficient
production processes. The founders’ strategic pricing, which balances luxury
with affordability, has also contributed to the brand’s success in the competitive
footwear market.
The Role of Marketing in Growth
One key learning for the founders was the importance of
marketing and branding in scaling a business. Jibran and Shayan realized that
their success in the luxury market depended heavily on their ability to reach
the right audience and communicate the value of their products effectively.
Investing in marketing and hiring a creative team to craft compelling campaigns
became a priority for the company. The founders understood that the growth of
their business would be fueled by their ability to generate brand awareness and
engage with potential customers.
The Power of Royalties in Business Strategy
The investment from Usman Bashir also highlighted the role
of royalties in business strategy. Usman’s offer included a royalty on profits,
which was a unique aspect of the deal. This arrangement meant that Cobblers
Cartel would continue to benefit from ongoing support from Usman while keeping
the company’s equity intact. The royalty model provided the founders with the
capital they needed to expand without giving up too much ownership, allowing
them to retain control of their vision while still benefiting from the
financial backing and expertise of their investor.
Biography of Jibran Rahim: Founder and CEO of Cobblers Cartel- Entrepreneur /premium, locally made footwear/startup/age/net worth/startup/shark tank
The Future of Cobblers Cartel
With strong foundations in place and an investor who
understands the market, Cobblers Cartel is poised for significant growth in the
coming years. The brand is well-positioned to capitalize on the growing demand
for luxury products in Pakistan and beyond. With plans to further refine their
marketing strategy and expand their product line, Jibran and Shayan are
confident that Cobblers Cartel will continue to grow and become a leading name
in the luxury footwear industry. The future looks bright as the company scales
its operations and attracts a wider customer base.
Lessons from Cobblers Cartel's Journey
The journey of Cobblers Cartel offers valuable lessons for
aspiring entrepreneurs. One of the key takeaways is the importance of
identifying a unique market opportunity and executing on it with passion and
precision. The founders’ ability to create a product that appeals to a
specific, underserved market helped them stand out in the competitive footwear
industry. Additionally, their focus on quality and branding, combined with
strategic investment, has allowed Cobblers Cartel to thrive. Entrepreneurs in
similar industries should look to invest heavily in marketing and build strong
partnerships with investors who understand their business, just as Jibran and
Shayan did with Usman Bashir.
A timeline for Cobblers Cartel:
2018: Cobblers Cartel is founded by Jibran Rahim and Shayan,
with a vision to provide premium, locally made footwear that offers an
affordable alternative to expensive international luxury brands. The brand
focuses on quality craftsmanship and exclusivity in Pakistan’s footwear market.
Shark Tank Pakistan: The founders pitch their business on
Shark Tank Pakistan, asking for Rs. 85 lacs in exchange for 10% equity, valuing
the company at Rs. 8.5 crore. Despite the premium pricing of their handcrafted
shoes, the brand's unique positioning impresses investors.
Investment Offer: Usman Bashir, a seasoned investor, offers
Rs. 85 lacs for 20% equity in the company along with an 80% royalty on profits.
This deal is significant, providing the brand with necessary resources and
creative direction for expansion.
Revenue Growth: By 2024, Cobblers Cartel generates Rs. 11
crore in total revenue, with Rs. 3 crore in the current year. The average order
value stands at Rs. 7,500, demonstrating strong consumer demand for
high-quality, luxury footwear.
Financial Performance: Cobblers Cartel operates with a 52%
gross margin and a 27% net profit, showcasing a sustainable and profitable
business model. These figures reflect the company’s strategic pricing, quality
materials, and efficient production processes.
Marketing Strategy: The founders realize the importance of
marketing and branding in scaling their business. They invest in marketing and
build a creative team to generate brand awareness and reach their target
audience.
Royalties Model: The unique royalty model from Usman Bashir
allows the founders to retain equity and control while benefiting from his
ongoing support. This model provides the company with the capital needed for
expansion without diluting ownership.
Future Outlook: With a solid foundation and investor
backing, Cobblers Cartel is well-positioned for significant growth. The
founders plan to expand their product line and refine their marketing strategy
to attract a wider customer base, aiming to establish the brand as a leader in
the luxury footwear industry.
Key Takeaways: Cobblers Cartel’s success underscores the
importance of identifying unique market opportunities, focusing on quality and
branding, and leveraging strategic investment and partnerships. Entrepreneurs
should invest in marketing and seek investors who understand their business, as
Jibran and Shayan did with Usman Bashir.
