Leafy Affair is a floral jewelry brand, which preserves flowers, seeds, and leaves and makes beautiful jewelry out of them.
Resin Floral Jewelery is a relatively new kid on the block in the jewelry category, and because of the novelty factor, it is gaining attention. Whether it is here to stay for a long term or it will just be a fad, that only time can tell.
Although it failed to grab any deal from the sharks, its numbers, however, managed to impress the sharks.
She does not have any out-of-the-world unique product, nor has she invented anything extraordinary, nor does she have her manufacturing unit, and yet her annual revenue is 1 crore with an 80% gross margin. Let’s check out their brand review, jewelry, what unique strategy makes it successful, and what the judges have to say about it.
Leafy Affair Review
They provide quite a good variety of options in floral jewelry and have around 10 SKUs for stationery. But the fact that it is made up of artificial metal and still the average price of their jewelry is ₹1000, which is quite EXPENSIVE.
Their pieces are very pretty and the quality is also satisfactory. So buying one or two pieces makes sense, but anything more than that will definitely burn a hole in your pocket.
Click here to check out what their customers have to say about them.
Leafy Affair Jewellery
They have a good design sensibility and a beautiful collection. All their jewelry is Resin, which is made by preserving the flowers using silica gel and removing moisture, then they are designed in Resin. in the Jewellery category they have:
Leafy Affair Founder
Supriya Donthi from Banglore is the founder of leafy Affair. She has done her B.sc. and M.sc. in Biotechnology and M.B.A long distance from Symbiosis.
Since childhood only she loved plants when she was a child someone had told her that in the future tech will take over the world. The little girl in her thought that the world will be full of Robots and there would be no plants and flowers.
That is when she decided that she won’t do engineering and will pursue anything in Botany. She got the idea for this business in 2016.
She is making a good profit in her business, and a very big reason behind this is the efforts she has put into curating the content and storytelling behind each product. Each flower has a beautiful story behind it and is a big reason the customers are drawn to her products.
Social Media Accounts
Instagram | Facebook | Website
Leafy Affair Shark Tank
The sharks were pretty surprised and impressed with the revenue of Leafy affair, which was ₹1.10 crores in (20221-2022)
July 2022 sales were ₹21 lakhs.
The estimated projection for 2022-2023 is ₹3 crores.
Their Gross margin is 80%
EBITA is 35%.
12% of their customers are repeating, and most of their customers buy her product for gifting purposes.
When Vineeta pointed out that her products can be easily copied, the founder replied that she has gained expertise in floral jewelry, and what makes her product unique is that she brings new SKUs every season.
Every month they sell around 2000 units.
The founder wants to make it ₹100 crore business in 5 years.
Deal or No Deal
Aman backed out because he thought that this business has scalability issues.
Namita had issues with manufacturing, they import their products from China and she believes that you cannot adjust when manufacturing is not under your control.
Vineeta believes that in the long run, this business will be a jewelry brand range and she feels that it does not have a big market. She did not invest but loved the name and the brand’s vision to keep nature close.
Amit Jain thinks that this business cannot go more than ₹20 crores and there it does not need the help of sharks. He however praised the founder for making a ₹1 crore business sitting at home, which is inspiring.
Anupam expressed his excitement for the industry, but he felt that her pitch was wrong. He explained that she will market her product as a clean jewelry brand with strong storytelling in the packaging and marketing. He told her to create strong content to capture a large market.
He further added that when the founder will get that clarity, he will be happy to invest in the company.
Concluding Remarks
What we can learn from entrepreneurs like Supriya is that, even if you do not have a very unique product or build something extraordinary, you can still run a profitable business by
- being passionate about your product
- having expertise in your field
- Good content
- Interesting stories behind your products
- Aesthetic pictures of your products
Do let us know your thoughts on whether she will be able to fulfill her goal of ₹100 crores in business in 5 years or do you think that the sharks were right and this business is not scalable?
You might also be interested in reading our reviews on:
- Snitch fast fashion brand for men
- Portl Mirror personalized home gym
- Ravelcare customized hair care products
- Dabble toxin-free and chemical-free art supplies for kids
- Padcare brand that recycles waste pads to produce cellulose and reusable plastic
