Angrakhaa Shark Tank Pitch:
Angrakhaa, founded in 2018 by Vishakha Bhaskkar and Asana Riamei, specializes in offering stylish, inclusive clothing for women. They make fashionable, cool, trendy clothes for all sizes. They specialize is customization and all their sizes are of the same price. Angrakhaa have fullfilled over 10,000 orders and have over 55,000 followers on their instagram. They are planning to expand into Indian wedding market for both mens and women’s clothing. The founders sought investment of ₹40 Lakh for 5% of the company.
They have 50/50 ratio of plus size and normal size clothing on their website. The website was designed by Angrakhaa. Their first year sales of FY 19-20 were at ₹14 lakh followed by ₹7 lakh in FY20-21. Founders shared that the decrease in sales was due to the pandemic. Furthermore, They have made ₹1.16 Crores in FY21-22. The company focused in the perfomance market in their last financial year which they credit to for their growth rate.
Angrakhaa only sells through their own website. They dispatch between 7-8 days after orders. 27% of their orders are cutomize requests. They made ₹13 Lakh in May 2022 followed by ₹15 Lakh and ₹24 Lakh in June and July respectively. They have spent ₹2.9 lakh in marketing in month of July and also launched a new limited edition prints collection which helped with with that sales growth.
For Unit Economics, A dress with an MRP of ₹2900 costs the company ₹900 to make. Additionally they pay GST of ₹350 on that. Logistics cost another ₹100 and after subtracting their marketing costs of ₹300, They profit around ₹1200. The company shared that their net profit for last year was at 20% but this year’s numbers look promising at 35%. Their repeat rate is at 27%.
Angrakhaa Shark Tank Negotiations and Funding:
Peyush was the first shark to go out and suggested founders re-think the idea of raising investment due to their strong numbers. He also adds that multiple categories will become a problem in the long run. Namita also shared the same sentiment as Peyush and stepped out because she didn’t think the business was investable. Aman goes out due to a confusing brand strategy. Anupam didn’t see a USP in the brand therefore goes out. Amit said he could help the company with digital marketing therefore he offers ₹40 lakh for 20% of the company. Founders counter at 15% which Amit refuses and they shake hands on Amits first offer of ₹40 lakh for 20% of the company.
Who are the founders of Angrakhaa?
Vishakha Bhaskkar and Asana Riamei founded Angrakhaa. Asana is from Manipur and Asana is her pet name which was given to her by her parents due to people mispronouncing her actual name which she shared is quite long. Her actual name is Sangailungliu Riamei. Vishakha has done economics honours from Sri Ram College of Commerce. she started her work with writing fashion blogs for plus size womens.
How is Angrakhaa doing after Shark Tank India?
Our research in the company revealed that dispite their initial agreement with Amit on the show, Their Shark Tank India deal did not close. Despite the, Angrakhaa is thriving. As of December 2023, They have over 123 thousand followers on Instagram and are still going strong. some of their reels have over a million views further enhancing their engagement on their socials thus generating more sales. While their financials are not yet available publicly, we will update this article as soon as more information becomes available.
Source: Instagram @angrakhaa
Here are other companies from Season 2 Episode 13.
Diabexy
Update coming soon!
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