Anupam Mittal, the founder and CEO of Shaadi.com, voiced displeasure on Shark Tank India Season 2 over how women’s contribution to society gets unrecognised. The House of Chikankari’s business concept pleased him.
Queen Noor Jahan was responsible for bringing chikankari to India. She is thought to have had a talent for embroidery. The mother-daughter team from Delhi developed chikankari on velvet with their company, House of Chikankari, to foster the art.
House of Chikankari is a tribute to all moms who put their needs second to fulfil their daughters’ aspirations and to all devoted daughters who always work to make their mothers smile.
Let’s see if they got a deal or no-deal.
Where to find House of Chikankari
About the Brand
Mothers are strong, compassionate women. They instil in you the ability to remain positive in the face of difficulty and to always believe in your own potential.
In the chaotic lockdown of 2020, a mother-daughter conversation revealed a shared desire to have a greater effect on our nation’s artisans. To guarantee that the skill and knowledge of Indian craftsmen, the legacy, and the workmanship are valued by everybody, the House of Chikankari was founded.
Our co-founder Poonam Rawal, a textile expert, has long created ethnic clothing for herself and her loved ones. Her wardrobe is overflowing with clothing that has been painstakingly hand-embroidered in Chikankari, and her daughter Aakriti Rawal has unavoidably inherited this devotion.
Their company has the most distinctive and creative pitch since the season’s start, and it is identified by a GI tag in Lucknow. Their models went on a show to highlight the elegance of their handcrafted attire.
Valuation and Sales of the Company
With the dual objectives of preserving the authenticity of the hand embroidered art and making it even more relevant for a contemporary audience, they have welcomed more than 5000 women employees and 15,000 clients over the course of their two years of sales. They ask for Rs. 75 lakhs for 1% equity.
The cost of “House of Chikankari” products is estimated to be between Rs. 2350 and 7000. When the samples are given to the sharks, Anupam is the first to commend them for including a human touch in their marketing plan.
The company’s sales for the 2020–2021 cycle are currently at Rs. 33 lakhs, and its projected revenue for this year is Rs. 15 crores, after having raised Rs. 1.82 crores the previous month. Their gross margin is 68–70%, and their net profit is 15%, with a crew size of 70 hustling through it all.
Their business approach is now primarily limited to the internet space, and 33% of their worldwide clients come from 6-7 nations, including the United States, Australia, the United Arab Emirates, and others. The largest sales are for straight kurtas, which account for 47% of the total, and 33% of the total are from returning customers.
Deal or No-Deal?
With their capacity to interact personally with clients, as well as the fact that they employ people nearby or provide support at their home, Aman is utterly taken aback. He makes them a 75 lakh rupee offer for 5% equity. Namita eagerly makes her way outside because she wants Aman, “her favourite shark,” to win.
Next with an offer of Rs. 75 lakhs for 6%, Vineeta and Anupam want to focus on performance marketing and brand growth. Peyush then cuts it close for Rs. 75 lakhs at a concession of 5%.
He opens up about working with Aman on the deal, saying that he wasn’t initially willing to invest in the apparel firm but was persuaded by their proposal. Additionally matching the offer, Anupam and Vineeta are now not shown any indications of giving in.
Next, Aman and Peyush present their last offer, which is selected as the day’s best bargain by “House of Chikankari” and is worth Rs. 75 lakhs for 3.75%.
Peyush Bansal’s first appearance in this light during the season was a remarkable image. He has maintained his calm demeanour throughout Season 2, and the audience has also clearly observed this. But in the most recent episode, his fervour for the cause pushes him to the point where we finally witness the sharks become “sharky.”
This is also the first episode in a long time without any food enterprises being introduced.
“House of Chikankari” expanded traditional handicraft traditions into modernity while staying more closely connected to those roots. Episodes of Shark Tank India Season 2 will air on Sony Entertainment Television and be live streamed on Sony LIV every day at 10 PM IST.
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