In this episode of Shark Tank India Rubans,a trend-setting fashion jewelry brand presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|Founders||Amit Kala and Chinu Kala|
|Ask||₹ 1.5 cr for 0.5% equity|
Amit Kala and Chinu Kala. They are from the garden city Bangalore.
Chinu has to leave her home because of several issues. She struggled for a living. In 2002 when she got into customer care service at Tata Indicom there she met Amit.
Amit has worked for ESPN and star sports for 11 long years in the distribution field. From 2011 to 2020 he worked for Viacom 18. Then he joined Chinu full-time.
About the Company Rubans
Life is magical and beautiful. But it felt heavy for the owner when she left home with only 300 rupees in hand. Her life was wrapped in darkness. Then she realized that a small piece of jewellery can change the look of a person. At that time the jewellery market was cluttered to a vast extent. On one end there was premium jewellery and on the other end, there was cheap imitation jewellery. So to solve this problem she found Rubans. Rubans is a high quality, high design and trend-setting fashion jewellery brand. Today Rubans is India’s fastest-growing jewellery brand. They started in the year 2014 and have served 25 lakhs, of customers. Their products are Indian made. Their hubs are extended majorly to small villages in Kolkata, Mumbai, and Delhi and the maximum is Rajasthan. They have 80% of their design and 20% curated design. Their repeat rate is 30%. They are bootstrapped. 40% of the customers in Myntra search by their brand name. They have an average of 3800 searches and 15000 orders per month. Their products have an average rating of 4.5-4.8.
Chinu and her mother have 81% equity and 19% with the Myntra accelerator program.
Ask by the Owner Rubans
The owners ask for 1.5 cr. for 0.5% equity of the company.
Ruban Sales And Revenue
Lifetime sales are around 200 crore. In FY 20-21 the sales were 29.7 crore rupees and in the financial year 21-22, the sales were 51 crore rupees. Their projected sales are 65 crore at the end of this year. The projected EBITDA is 15%. 75% of their business is from Myntra and 25% is from their website and marketplaces. Their ASP is 800 rupees with a gross margin of 70%.
Shark Tank Soulup
Offers and Counter Offers
Namita and Vineeta together offer 1 cr. for 1% equity and 50 lakhs at a 12% interest rate.
Anupam offers 1.5 cr. for 1.5% equity.
The owner asked to revise the offer for Namita, Vineeta and Aman to eliminate the debt.
Rubans Final Deal
The deal was finalized with dream team Amit, Namita and Vineeta with 1 cr. rupees for 1% equity and 50 lakhs debt at 12% interest.