Often the authenticity of the product can’t be identified and valued properly. That’s why the House of Chikankari was started.
With the ecommerce brand, they have appointed 5000 female employees and served over 15000 customers. It’s still a small number because a huge number of people are still working on this handmade craft who can be included in this market. They can get a better value if more and more people are buying this from the e-commerce brand.
They have attire for both men and women. They started the website in 2020.
They came to Shark Tank India seeking ₹75 Lakhs in exchange for 15% equity in the company. Which gives the company a valuation of ₹75 Crores. They better have some good sales to justify the valuation.
Chikankari was made famous during the time of Noor Jahan, the wife of Mughal emperor Jehangir. Chikankari was so famous that it got the GI tag. Having the GI tag means the product belongs to and contains the cultural heritage of a specific area.
Aakriti has done her undergrad in King’s College London. She finished her study in 2018 and came back to India in 2019. For a year, she worked in a fashion startup.
|2020 – 2021||₹33 Lakhs|
|2021 – 2022||₹3.3 Crores|
|2022 – 2023 (Till Date)||₹7.4 Crores|
This is completely a bootstrapped business. They haven’t raised any money from outside, but Aakriti’s father did invest ₹70 Lakhs into the business. For that reason, he has 25% of the business.
Their customer model is quite diversified. Currently, 67% of the customers are from India and 33% are from international. They are selling these customers Kurtas mostly. Kurtas accounts for 47% of the sales they are having. Their repeat customers are 33%.
Aakriti has a great personality. She started the business with only an Instagram page and for 10 months she single-handedly managed the entire thing. She loves learning new things. From dealing with a customer to processing orders, she learned everything on her own and kept educating herself.
Needless to say, Poonam is very proud of her daughter. For everything she achieved. Aakriti always wanted to build a brand, and with the help of Chikankari, that dream became a reality.
Aman Gupta was the first one to give an offer. He offered ₹75 Lakhs for 5%.
Namita Thapar was out.
Vineeta Singh & Anupam Mittal gave a joint offer. They offered ₹75 Lakhs for 6%. That way they’ll get 3% each. They can help in performance marketing and brand building.
Peyush Bansal also gave the same offer as Aman. Later Aman joined with Peyush and that offer became a joint offer.
|Offer 1||Offer 2|
|Vineeta Singh & Anupam Mittal – ₹75 Lakhs for 4%||Peyush Bansal & Aman Gupta – ₹75 Lakhs for 4%|
Now Aakriti & Poonam had 2 offers from 4 sharks on the table. They gave a counteroffer of ₹75 Lakhs for 2%.
Finally, the deal was closed at ₹75 Lakhs for 3.75%. Which gave the company a valuation of ₹20 Crores.
|Company Name||House of Chikankari|
|Founder||Aakriti Rawal & Poonam Rawal|
|Asked Amount||₹75 Lakhs for 1%|
|Net Margin||68% – 70%|
|Final Deal||₹75 Lakhs for 3.75%|
|Sharks||Peyush Bansal & Aman Gupta|
|Current Net Worth||₹20 Crores|
|Company Status||In Business|
It’s not every day you see two men supporting two women from a clothing brand. Hats off to Aman Gupta & Peyush Bansal.