What is LeafyAffair?
LeafyAffair is a floral jewelry brand. This is the first of its kind in India. Supriya wants to make this brand the biggest floral jewelry brand in India.
Who is the Founder of LeafyAffair?
Supriya Donthi is the founder of LeafyAffair. She’s from Bangalore.
Supriya completed her BSc & MSc in Biotechnology. She completed her MBA also. Since childhood Supriya loved nature very much. She wanted to do something in this sector. That’s why in 2016 she first thought of LeafyAffair and later created the brand.
LeafyAffair Before Shark Tank India?
LeafyAffair has more than 100+ designs. A lot of celebrities have tried LeafyAffairs jewelry already. It has jewelry for both men and women.
Not only jewelry, if you visit LeafyAffair’s website, you’ll see tons of other products as well. Like paper weight, bookmarks, etc. All the sales are currently from the brand website.
Supriya uses the real flower and leaves to make the jewelry. Floral jewelry has its own appeal. From a Market size perspective, it covers almost ₹16000 Crores.
How much money did she ask for LeafyAffair?
Supriya came to Shark Tank India seeking ₹50 Lakhs for 2.5% equity in the business. Which gives the company a valuation of ₹20 Crores. It’s a fully bootstrapped company. Supriya hasn’t raised any funding yet from anyone.
Supriya states preserving each flower takes a lot of effort, hence the price is quite high. She has a manufacturer in China. In 3 to 4 years she wants to make this a ₹100 Crores business.
There’s a flower used inside a necklace which is called forget-me-not looms. The story behind that is a knight gifted that flower to his lady and shouted forget-me-not. That’s how the flower’s name originated.
What are the Annual Sales of LeafyAffair?
|2021 – 2022
|2022 – 2023
Unit Economics of LeafyAffair
Last month’s sales were ₹21 Lakhs. Gross Margin 80%. EBITDA 35%
The average selling price is ₹1000. And the repeat customer is 12%.
The number of repeat customers is low because most people come to the website to purchase something for someone as a gift. They are not buying the same thing over and over again.
Namita Thapar & Vineeta Singh was worried that people who already own established jewelry brand could easily copy the products. But Supriya said LeafyAffair will have the first mover advantage and they are introducing new floral jewelry every year which other companies won’t be able to replicate easily.
Which shark gave LeafyAffair an offer?
Aman Gupta was out because he thought there’d be issues scaling this business. And a lot of people can easily copy the products hence there’s no key differentiator for the company.
Namita Thapar was out because she thought Supriya didn’t have control over manufacturing and that might be an issue. She advised her to solve this problem as soon as possible.
Vineeta Singh appreciated the design sense & the brand name. But she was out because she wasn’t sure how big the actual market for this product was.
Amit Jain was out because he thought Supriya didn’t need any investment at this moment. Because she was doing so well all by herself.
Anupam Mittal was really excited about the floral jewelry industry. But he thought Supriya didn’t have the proper positioning yet for the business. That’s why he was out.
|₹50 Lakhs for 2.5%
|Company Net Worth
What deal did LeafyAffair get in Shark Tank India?
Supriya didn’t have any deal but she sure did make a profitable company all on her own. Which is highly recommendable.