Shark Tank Angrakhaa
In this episode of Shark Tank India Angrakhaa, a size-inclusive clothing brand that makes extremely fashionable, cool, and trendy clothes across all sizes present its pitch. Will they get a deal from the sharks? To know about the deal read till the end.
|Founders||Asasna Riamei and Vishakha Bhaskar|
|Ask||40 lakhs for 5% equity|
Asana Riamei and Vishakha Bhaskar both are co-founders of the company.
Asana Riamei is from Tamenglong district, Mirpur. She had come to Delhi for her studies. Along with their studies, she had to work to support herself. While she was working in a fashion-related company she was getting interested as from childhood she had that passion for fashion industries.
Vishakha Bhaskar has completed an honors degree in economics from Sri Ram college of commerce. From the second year of her studies, she started to write blogs about fashion on the topics of normal and plus size. While working in a Fashion company she met with Asana and decided to start their company.
About the company Angrakhaa
Angrakhaa is a size-inclusive clothing brand that makes extremely fashionable, cool, and trendy clothes across all sizes. They have many categories like dresses, skirts,co-ord sets and Indian wear. They specialize in customization and the prices for all the products are the same; that means customers don’t have to pay a ‘fat tax’. The company has fulfilled 10000+ orders of customers. They have 55000+ followers in their social media channels. They want to make Angrakhaa a global brand inclusive of all sizes. They are not a plus-size inclusive brand but they are spreading the message that they are solving this plus-size issue. They are only available on their own website.
Angrakhaa means protection for the body. They have chosen this name because if Angrakhaa becomes a global brand then people should feel that it is an Indian brand.
Ask the Owners of Angrakhaa
The pitchers asked for 40 lakhs in exchange for 5% equity.
Angrakhaa Sales And Revenue
In FY19-20 the sales were 14 lakhs rupees. In FY20-21 the sales was 7 lakhs rupees and in FY 21-22 the sales was Rs. 1.16 cr. The maximum sales they generate is from Facebook ads. They are not available in any marketplaces till now. They delivered the products usually within 7-8 days of the order.
In the month of May, the sales were 13 lakhs rupees, in the month of June the sales were 15 lakhs, and in the month of July, the sales were 24 lakhs. They have spent 2.9 lakhs in marketing in the months of July from that 24 lakhs in sales.
For a unit price of 2900, the COGS cost is 900, GST is around 350 rupees, Logistics is of 100 rupees, and Marketing cost is about 300 rupees. The remaining margin is about 1250 rupees. In FY 21-22, the net margin was 20%. In FY22-23 they touched a net margin of 35%. Their repetitive customer is around 27%.
Offers and counter offers
Namita, Peyush, Aman, and Namita stepped out of the deal.
Amit counters offer 40 lakhs for 20% equity.
Pitchers counter 40 lakhs in exchange for 15% equity.
Angrakhaa Final deal
The deal was finalized with Amit for 40 lakhs rupees in exchange for 20% equity.