Ekatra Shark Tank Pitch:
Ekatra is a sustainable brand co-founded by Aishwariya and Minakshi Jhawar, aiming to empower homemakers through handmade items. With a predominantly female workforce, Ekatra focuses on employee well-being while crafting sustainable paper goods, artisanal stationeries, and lifestyle products meant to foster connections with oneself, others, and the environment. Their brand is availble on 19 different marketplaces and they also sell through their own website. They have over 20 stores across India.
They had 23 female workers working for them at the time of the pitch. Founders shared that the number will grow to 40 in the next couple of months. They also identified 400 people who could be trained for the work as well. Most of their workers work from home in their own time. Their first financial years sales stood at ₹90,000 followed by ₹9 Lakh in FY20-21. For FY21-22, they have made ₹10.4 lakhs in first Quarter and their last month sales were at ₹5.4 Lakh. 60% of their sales comes from online and rest is offline. Their net margin is 27%. They sold ₹75 thousand through amazon last month. 20% of their sales comes from their own website.
Ekatra Shark Tank Negotiations & Funding:
Aman goes out citing its too small and too early. Namita gives feedback that the company needs to find its hero products but she doesn’t think the company needs investment at this stage therefore she steps out of the negotiations. Anupam doesn’t see how he would make money out of this business therefore he goes out of the deal.
Peyush thinks that founders are missing a business focus and a vision. He said if he came as an investor, they would need to change the direction of this brand. Amit was also interested in the brand and agreed with Peyush’s input and gave a conditional offer of ₹20 lakh for 20% and rest as debt. The condition was that, Founders will focus on building on fewer focused SKUs. Amit asks Peyush if he would like to join him which Peyush accepts and he adds that this is non-negotiable offer. Founders Accept that offer without any hesitation.
Who are the founders of Ekatra?
Aishwariya and Minakshi Jhawar founded Ekatra. Aishwariya is 26 and Minakshi is 51 years old. The company shared that, Aishwariya’s education background is in Urban Planning.
How is Ekatra doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Peyush and Amit closed after the show. Amit Jain even launched the Luxury lineup of their brand through Instagram. The brand shared on this on their Shark Tank India experience through their Instagram:
I’ll tell you the truth today. Prepping for shark tank is an intense journey In itself, specially when you have not raised a round before. Facing investor, cramming up numbers, thinking of all possible questions takes a good toll on you – But what iT gives you in return is solid gold. The talk about shark tank spike is real. In our case, it took on more turns, Since we are a bit more than a D2C brand, we work a lot with corporate, Shark Tank brought that validation for us. We got an opportunity to work with some major names in the country, like Google, Airbnb, Big basket and Reserve Bank of India – to name a few – who would have thought? But we became visible to them.
Apart from some good names, we also gain conference amongst one time buyers, we saw a massive spike of 10x in just one weeks’ time on our website sales, our store collaborations became easy to convert because people were demanding our products – because of all this we were able to expand our work force immediately and got 20 more homemakers on board, this indirectly impacts 50+ people, helping them in build better socio economic conditions. Our founders also had a chance to speak and share at various events, that motivated a lot of homemakers and young females to believe in the magic of hard work and just dive! We’ve not had a breath to space in past one month, but our entire team loved every second of it.
@ekatra.in Instagram
As of December 2023, Ekatra is still in business and thriving. They have over 17,000 Instagram followers. While their current financials are unknown, we will update this article as soon as more information comes to light.
Source: @ekatra.in Instagram
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