Chapter 92
Upon hearing what Ethan just said.
The spokesman's jaw dropped, his eyes bulging out of his head; he couldn't believe what he just heard. The rest of the room erupted in a frenzy of whispers and gasps, everyone staring at Ethan.
Ethan's question hung in the air, a palpable tension filling the room. Everyone's intense stare was still on him, their eyes wide with a mix of shock and disbelief.
Surely the kid was not serious about buying out an entire clothing line just because of what the spoke man just said and what he believes without him doing proper findings.
However the spokesman was still in shock by what he just heard, he was caught off guard by Ethan's bold inquiry, he managed to let out a nervous laugh.
"Well, if you're really interested in the project so much to the point you want to buy it,"
he said, his voice wavering slightly, "the entire project would run you about ten million dollars."
Upon hearing what the spoke man just said One of the other attendees couldn't keep quiet anymore and listened to the nonsense coming out from the spoke man's mouth.
without wasting anymore time he spoke up, his brow furrowed in confusion and anger.
"Is the ten million dollars just for production costs, or does it include advertising, distribution, and everything else?"
At that moment the spokesman's face flushed with embarrassment hearing the question thrown at him, he knows they are targeting him because they see a very small upcoming company.
Compared to the well-established agencies represented by the other spokespeople, his fledgling company's budget seemed like nothing in comparison to others.
with a low voice he said.
"That... that would be for everything,"
He admitted, his eyes downcast.
At that moment Ethan who was calm all along listening to what everyone has been saying cleared his throat, drawing everyone's attention back to him.
"I want to be clear about all of this,"
he said, his voice steady and sure of what he wants.
"I'm not just interested in buying the clothes. I want to purchase the entire project outright."
immediately a collective gasp rippled through the room. The manager stared at Ethan, his mouth agape he too has been observing the whole situation and she never wanted to say anything but it seems Ethan is making mistakes and she wouldn't keep quiet and watch him make such a mistake after the donation he did.
with a voice filled with Disapproval she said.
"Mr Ethan, are you certain about this? Investing in a project with no proven track record could be a significant risk. It might all be for nothing and as a young and determined investor like you, I wouldn't want you to make such mistakes, please have a rethink about this."
Ethan understood the manager's concern, but he wasn't having any of that. Something inside him told him to buy the project. He saw the idea and vision about the project, But Ethan just smiled, with a glint of determination in his eye.
"I understand the risks and your concern,"
he said,
"But I believe in this project. And more than that, I want to be the first person to wear these clothes. That alone is worth the investment to me."
upon hearing Ethan responds the manager wanted to shake her head in disappointment but she kept her cool
The other spokespeople exchanged glances, their expressions filled with a mix of jealousy and anger. How would a kid, with his faded jeans and scuffed sneakers, waltz in and scoop up an entire clothing line just because he wanted to play with the clothes and be the first to put them on?
The spokesman, still shocked from Ethan's offer, stammered out a response.
"Sir it seems you really want to buy the project, Well for that to happen, the current shareholders would all have to agree to sell to you. The majority of the shares are split between three main investors, while I only hold a small two percent stake myself."
upon hearing what the spoke man just said Ethan's grin widened at the revelation.
"So you've got skin in the game too, huh? That's good. It means you really believe in what you're selling."
He leaned forward, his elbows resting on the table.
"Here's what I propose. Call up those three investors and tell them I'm willing to pay five million dollars each for their shares. That's a premium price, well above market value."
The spoke man almost lost his balance, he couldn't believe what he was hearing, 5 million dollars each just for the major shareholders to sell their shares.n/ô/vel/b//jn dot c//om
If the room had been shocked before, now they were absolutely gobsmacked. Ethan was offering to pay nearly double the project's total valuation, just to secure ownership of something that isn't even worth half of his first offer.
without being told they could tell It was a staggering display of financial might, coming from someone who looked like he'd just raided the trash box for used clothes.
At that moment the spokesman's hands started shaking slightly; he still couldn't believe what he was hearing, so he then excused himself to make the calls to the other shareholders.
The room buzzed with hushed conversations as he stepped out, everyone speculating on what the investors' reactions would be.
Fifteen minutes later, the spokesman returned, his face a mask of disbelief.
"They... they all agreed,"
he said, his voice barely above a whisper.
the words they said to the spoke man was still ringing in his head.
They said they never expected to see profits like this, not with all the rejections they've faced from potential retailers and investors so they give him the go ahead to sell.
with a more low voice he continues "They said they are sending over their secretaries with the paperwork as we speak."
Ethan couldn't help but just smile turned sly, a glimmer of satisfaction in his eyes.
"And can I have the current breakdown of ownership?"
he asked, his tone casual.
The spokesman immediately swallowed hard.
"Thirty percent, thirty-five percent, and thirty-three percent for the three main investors. And two percent for myself."
Ethan nodded, as if he'd expected as much. Then, with a satisfied look on his face he then faced the man, and said.
"And would you be willing to sell your two percent stake... for ten million dollars?"