What Happened to Quirksmith After Shark Tank India?
What is Quirksmith?
Quirksmith is a silver jewelry brand inspired by poetry. Each piece of jewelry is different & unique.
Quirksmith has Akshar, anklets, rings, earrings, nose pins & more.
Who is the Founder of Quirksmith?
Divya Batra & Pragya Batra are the founders of Quirksmith. They are siblings. They are from Agra.
Divya’s a trained silversmith & she learned jewelry design from the National Institute of Fashion Technology. Pragya studied at IIT Delhi.
They believe jewelry can become a conversation starter, that’s how they founded Quirksmith.
Quirksmith Before Shark Tank India?
They started the company in 2016. The entire business is women-led. Quirksmith has served more than 7 Lakh customers. It’s been in operation for the last 7 years.
Quirksmith has 203k followers on Instagram. Quirksmith gets 1.2 Lakh visitors per month.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹80 Lakhs for 1% equity in the company Quirksmith. Which gives the company a valuation of ₹80 Crores.
How much money did they raise for Quirksmith?
They haven’t raised any money for Quirksmith yet. It’s a totally bootstrapped company.
How to get Quirksmith?
You can get all the jewelry from their website. 95% of sales come from their own website.
Unit Economics of Quirksmith
Their average order value is ₹2500. The net margin is 4%.
What are the Monthly Sales of Quirksmith?
| Month | Sales |
| June 2023 | ₹65 Lakhs |
| July 2023 | ₹58 Lakhs |
| August 2023 | ₹75 Lakhs |
What are the Annual Sales of Quirksmith?
| Fiscal Year | Annual Sales |
| 2019 – 2020 | ₹3.7 Crores |
| 2020 – 2021 | ₹2.5 Crores |
| 2021 – 2022 | ₹5 Crores |
| 2022 – 2023 | ₹6 Crores |
Which shark gave Quirksmith an offer?
Anupam Mittal was out. He was really impressed with the founders. But he thought the business was based on occasional wear. That’s why he didn’t give any offer.
Amit Jain offered them ₹30 Lakhs for 3% & ₹50 Lakhs debt at 12% interest for 2 years. He valued the company at ₹10 Crores.
Aman Gupta offered them ₹30 Lakhs for 3.3% & ₹50 Lakhs debt at 12% interest for 3 years. He valued the company at ₹9.09 Crores.
Vineeta Singh was out. She wasn’t convinced that the brand was built properly.
Namita Thapar was out. She advised them to change their collection & pricing.
| Offer 1 | Offer 2 |
| Amit Jain – ₹30 Lakhs for 3% & ₹50 Lakhs debt at 12% interest | Aman Gupta – ₹30 Lakhs for 3.3% & ₹50 Lakhs debt at 12% interest |
The founders rejected both offers.
What deal did Quirksmith get in Shark Tank India?
Quirksmith didn’t get any deal in Shark Tank India.
| Company Name | Quirksmith |
| Founders | Divya Batra & Pragya Batra |
| Asked Amount | ₹80 Lakhs for 1% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹80 Crores |
| Company Website | quirksmith.com |
| Company Status | In Business |
What is the net worth of Quirksmith?
The net worth of Quirksmith is ₹80 Crores according to the founders.
Is Quirksmith still in Business?
Yes, Quirksmith is still in the silver jewelry business.
