Shark Tank Kitsons
This episode of Shark Tank India Kitsons, presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Founders||Abhishek Y, Lt Col Y Rajasekhar Reddy, Shubhankar Y|
|Ask||₹10 crores for 10% equity|
Abhishek Y, Lt Col Y Rajasekhar Reddy, and Shubhankar Y are the founders of the company. Rajasekhar Reddy is a civil engineer and an army officer. During his childhood, he has a passion for collecting stationery items. Abhishek has done graduation in Mechanical engineering with a diploma in business management. He is involved in daily operations of the company. Later he walked in Accenture. Shubhankar has also done engineering and his first job was in Byjus.
About the company Kitsons
Kitsons is a one-stop shop that has collections of toys, stationeries, books, art & craft and party needs products. In the kids section
they have more than 20000 SKUs that are carefully selected. In Hyderabad, they have seven exclusive stores. They want to take this company forward pan India so that every children can experience those childhood memories. The company has completely China-free products and has good-quality toys. All products are made in India. They have not spent any money on marketing. They have a policy of no returns and no exchanges. The company was started in 2010. Their vision is to open franchise stores and a few more stores.
Ask by the Owner Kitsons
The owners ask for 10 crore at the equity of 10% of the company at the valuation of 100 crores.
Kitsons Sales And Revenue
The conversion rate is 100%. Sales in FY 21 to 22 is 6.3 crores. The gross margin is 35%. The net margin is 17%. Projected sales in FY 22 to 23 is 11 to 12 crores. Before covid, sales in FY 19 to 20 it was 5.7 crores. Sales in FY 20 to 21 is 7.5 crores. They have done an initial investment of 42 lacs. CapEx per shop is 7 lacs.
Offers and counter offers
All the sharks stepped out of the deal in no offer was given.
Kitsons Final deal
No final deal was done.