How is ‘A Little Extra’ doing after Shark Tank India?

Founder: Diksha Singhi
Business: Jewelry
Ask: ₹48 Lakhs for 6% Equity
Valuation/ Networth: ₹8 Crores
Funding: ₹60 Lakhs for 7.5% Equity
Sharks: Anupam Mittal & Vineeta Singh
Episode: Season 3 Episode 15

A Little Extra Shark Tank India Pitch:

A Little Extra is a fun, quirky jewelry brand which creates products for people who are looking for something different. Their designs are inspired by surrounding elements, mood, occasions, and emotions. They have over 500 designs at affordable prices. The business was started with only ₹5000, but the founder shared that they have sold over 80,000 products thus far. The founder sought an investment of ₹48 Lakhs for 6% of the company, valuing the business at ₹8 Crores.

A Little Extra Financials during Shark Tank India:

A Little Extra sells mostly handmade products. 75% of their products are designed in-house and the rest are curated. 100% of their sales come from online. The average selling price per order is around ₹450. The company has a gross margin of 75% across its products, and they are making profits before tax of around 25%. Further, A Little Extra has a repeat rate of 17-18%. All their sales come through their own website, and they are yet to list on marketplaces.

A Little Extra closed the last financial year of FY22-23 at ₹1.22 Crores in revenue with a net margin of 11%. Also, They made ₹47 Lakhs in the year prior and ₹17 Lakhs in FY 20-21. As for this year (FY23-24), they have already made ₹1.06 crores by November 2023 and are projecting to close this year at ₹2 Crores with net margins of 25%. A Little Extra has almost 2 lakhs followers on their Instagram.

A Little Extra Shark Tank India Negotiations & Funding:

Namita was the first Shark to go out because of the market size. She also added that it would be tough to scale after a certain point. Ritesh puts the first offer out exactly as the founder asked for, which was ₹48 lakhs for 6%. Vineeta gives the second offer of ₹48 Lakhs for 8%, and Anupam asked if he could join her, to which she agreed. Aman also comes in with an offer of ₹48 lakhs for 6%, offering her a dream deal. Ritesh asked Aman to join him, which he agreed to, and they give the same offer together.

Vineeta and Anupam revise their offer to ₹60 lakhs for 8%, valuing the business at ₹7.5 Crores. The founder wanted all sharks to come together for ₹48 Lakhs for 6%, which sharks refused. Therefore, she asked Anupam & Vineeta to join her with an ₹8 Crore valuation offer, which they agreed to, so they offered ₹60 lakhs for 7.5%, which Diksha accepted.

Who is the founder of A Little Extra?

Diksha Singhi founded A Little Extra. She is from Guwahati but went to college in Delhi and has settled there for the last 10 years. She is the sole owner of the business and it’s completely bootstrapped.