Shark Tank India 2 recently featured the women’s clothing company Angrakhaa; learn more about the company, its creator, its pitch, and much more.
Shark Tank India season 2 has received a variety of responses since it debuted, both favourable and bad. While many people criticised the programme for not including Ashneer Grover, others praised it for highlighting a variety of entrepreneurs from varied backgrounds.
It is a clothing line that attempts to offer the newest styles in women’s clothes in all sizes. All of this came about as a result of Shark Namita Thapar’s open discussion on body shaming at a presentation by the developers of Angrakhaa.
She proceeded by asking why they chose to focus on all sizes rather than develop a distinctive brand for plus-sized women.
Let’s see what the Sharks had to say about Angrakhaa and whether they managed to get a funding from the Sharks.
About the Brand
The pitchers responded honestly and openly by stating that stigmatisation of plus-size individuals was the problem. The objective of an inclusive business is to make everyone feel included, regardless of size or specific collections. Since then, the business has gained national attention, and many individuals are attempting to learn more about it.
So let’s learn everything we can about it. It was established in 2018 by Vishakha Bhaskar and Asan Riamey. Asana, another co-founder, handles the technical aspects of the business, while Vishakha, the brand’s creative co-founder, is in charge of aesthetics for the feed, website, and collection.
The owners of Angrakhaa discussed their emphasis on building an inclusive brand while also addressing the “fat tax” that exists in the business, which is the practise of charging plus-sized customers excessive costs. The creators prefer to normalise sizes versus stigmatising them in order to promote size inclusivity.
Where to Find Angrakhaa
Sales and Valuation
Angrakhaa’s designers discussed their sales, claiming that they rose from Rs 14 lakhs in the 2019–2020 fiscal year to Rs 1.16 crores in the prior fiscal year. They asked the sharks for a 40 lakh rupee investment in exchange for 5% stock at the end of their pitch.
Looking at the unit economics, ₹2900 sales price includes cost ₹900, marketing ₹300, logistics ₹100 and GST ₹350. What remains after this is the profit of the Angarkha.
27% of Angrakha are repeat customers. The net margin was 20% in FY 2021 – 2022 and has now become 35% in FY 2022 – 2023.
All of the sharks, including Vineeta Singh, co-founder and CEO of SUGAR Cosmetics, Namita Thapar, executive director of Emcure Pharmaceuticals, Peyush Bansal, founder and CEO of Lenskart.com, and Amit Jain, co-founder and CEO of CarDekho Group and InsuranceDekho.com, were impressed by the brand’s expansion.
Deal or no-deal?
Although Peyush Bansal advised them to reassess whether they required finance or not, Thapar and Aman Gupta withdrew on the grounds that their marketing plan was unclear after the sharks were shocked by the sales statistics.
Anupam Mittal also decides to leave, citing the difficulty in expanding this business due to the absence of a USP. However, Amit Jain gives them a package that includes Rs 40 lakh and 20% shares, along with additional digital marketing guidance, in order to help them increase their sales. Finally, the founders accept this deal.
This company belonged to a completely different category. From a commercial standpoint, ideas may be expanded by merging them. The success of your business is reflected in how successfully you manage your supply chain in relation to the market. Additionally, Mine4Nine has demonstrated a lucrative enterprise targeting a group of women.
You may also like:
Janitri | Shark Tank India Season 2
Jaipur Watch Company | Shark Tank India Season 2
Birds of Paradyes | Shark Tank Season 2