Shark Tank India Season 2 House Of Chikankari
|Company name||House of Chikankari|
|Founders||Akriti Rawal and Poonam Rawal|
|Ask||75 lakhs rupees for 1% equity|
House Of Chikankari Founders
They are from Delhi. Mother and Daughter founded this company. They have started on the verge of covid. Akriti completed his under Grand from Kings’ College London and graduated in the year 2019. Then worked with a fashion brand for 1 year as an intern in India in the year 19-20. Her mother has the knack of weaving and make various embroidery designs. So from there they started their journey.
About the company House of Chikankari
Chikankari is the art from Lucknow.100 years ago, Begum Noor Jahan has spread its popularity all over the world. This art work has also received GI tag from government of India. House of Chikankari is such a e-commerce business which aims to provide the finest Chikankari designer dresses to the people. Their business has provided employment for 5000+ women karigars. 15000+ customers have ordered from their websites. Their aim is to keep up the authenticity and the quality to serve to the modern audiences.
Ask by the Owners of House Of Chikankari
Pitchers asked for 75 lakhs for 1% equity in the company.
House Of Chikankari Sales And Revenue
The product range starts from Rs.2350-7000. There is a tag attached along with the price tag in every product which made strong communication with the customers. In FY20-21 the sales was 33 lakhs rupees, in FY21-22 the sales was Rs. 3.3 cr. rupees and in this FY22-23 the sales is Rs.7.4 cr. till date and projected sales in the end of the year is Rs. 15cr. Rupees. Their team size is 70. Gross margin is 68-70% and net margin on average is 15%. The sales for the last month is 1.82 crore rupees. Akrirti’s dad has invested around 70 lakhs rupees and has a share of 25% equity in the company. Their 33% of sales is from International countries like UK, USA, Canada, and Australia. Their repeat customer is around 33%. The inventory for the last two months is around 10000 units and the dead stock is around 500 on average. In October 2020 the brand was launched and the orders were only processed by Instagram and WhatsApp by DM and PP. When they launch their website in the year 2021 their sales was increased by 5X.
Offers and counter offers
Aman offers 75 lakhs for 5% equity.
Vineeta and Anupam counter offers 75 lakhs for 6% equity.
Piyush and Aman re-counter the offer for 75 lakhs for 5% equity.
Akriti counters for 75 lakhs for 2% equity.
Piyush and Aman counter offers for 75 lakhs for 4% equity.
Vinneta and Anupam matches with Piyush and Aman. Akriti counter offer for 75 lakhs rupees for 3% equity with Piyush and Aman.
House Of Chikankari Final deal
Finally the deal was finalised for 75 lakhs for 3.75% equity.