- Founder/Owner: Richa Kapila and Vani Chugh Kabra
- Business: Innerwear
- Ask: ₹80 lakhs for 1% Equity
- Valuation/ Networth: ₹80 Crores
- Funding: ₹80 lakhs for 2% Equity + 1% royalty until ₹80 lakhs is recouped
- Sharks: Namita Thapar and Vineeta Singh
- Episode: Season 3 Episode 22
D’chica Shark Tank India Pitch:
D’chica is an Indian startup which appeared on Shark Tank India season 3 Episode 22. They specialize in teen girls and young women’s innerwear. Their product range includes bras, panties & period panties. The owner’s vision is to make D’chica every teen girl’s BFF, and to fulfill this vision, they sought an investment of ₹80 lakhs for 1% of the company, valuing their business at ₹80 crores.
D’chica launched their first innerwear collection in 2020. They have 5 manufacturing units by the time of their pitch, out of which 4 were outsourced and 1 is in-house. The owners shared that they have also onboarded a gynecologist to whom customers can reach out for guidance. They also do a lot of school guidance.
D’chica Revenue & Financials during Shark Tank India:
D’chica has already done a funding round in September 2022 where they raised ₹5 crores at a ₹25 crore valuation and diluted 22.8% of the company. The rest of the equity is still with Richa & Vani. They closed FY21-22 with revenue of ₹6.6 crores. Also, they closed the last financial year, FY22-23, with revenue of ₹10.3 crores. As of September 2023, they are at a monthly run rate of ₹1.2 crores, and they are projecting to close FY23-24 at ₹18 crores in revenue. Currently, they are raising a bigger round of ₹15 crores, and Shark Tank investment will be part of this bigger round. They have soft commitments of ₹7 crores already.
D’chica is still operating at a loss as they burned ₹10 lakhs in September 2023. The owners added that they had an EBITDA of 4% in FY20. This increased to 7% in FY21 and 9% in FY22. The company burned ₹2.8 crores last year and were EBITDA negative of 21.37%. This year they are negative in EBITDA by 19.78%, but they are projecting to break even in the month of October.
D’chica Shark Tank India Negotiations & Funding:
Aman was interested in the investment, but he commented that he doesn’t think his money will come out of this investment. He also had reservations on how he would get along with entrepreneurs; therefore, he stepped out of the negotiations. Anupam shared a similar sentiment, and he added that he couldn’t understand the communication dynamics. He felt like the entrepreneurs were not open to feedback; therefore, he also goes out. Amit goes out because he couldn’t figure out how big the market size of these products is.
Vineeta was interested in the category but still had reservations about the owners. She still decided to come in together with Namita to give an offer. Together, they offered ₹80 lakhs for 2.5% of the company, valuing the business at ₹32 crores, but on top of that, they would get 1% in royalties till they recover their ₹80 lakhs back and then the royalty goes away. The owner countered that with a ₹40 crore valuation, which the Sharks agreed to, but they would still keep the royalties as it is. The owners accepted that offer without any hesitation, and they finalized the deal at ₹80 lakhs for 2% and 1% royalty until ₹80 lakhs are recouped.
Who are the owners of D’chica?
Richa Kapila and Vani Chugh Kabra own D’chica. Richa is 32 years old, and Vani is 41 years old. They are sisters-in-law. They had another business together which they started in 2014 which went under in 2018. The owners shared that they lost about ₹70 lakhs in that venture. Vani has a background in Media and worked as a communication consultant for multiple brands. Rich graduated from Pearl Academy.
How is D’chica doing after Shark Tank India?
Our research on the company revealed that while D’chica did get a deal on Shark Tank India, their deal was not finalized or closed after Shark Tank India. The reasons for this fallout are still not clear. As of February 2024, the company is still in business and thriving. They shared through their socials in January that they have already sold over 1 million panties. While their financials are not yet clear, we will update this article as soon as more information comes to light. In the meantime, you can check out their products by clicking the Amazon button below!
Thank you for supporting the blog as we make small commissions on purchases done through the above link.
Source: Instagram @dchica.in
Here are other companies from Season 3 Episode 22.