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What happened to Erotissch after Shark Tank India?

Posted on March 10, 2024April 18, 2024 by Khush
  • Founder/Owner: Anushka Agarwal & Aayuushi Agarwal
  • Business: Apparel
  • Ask: ₹75 lakhs for 3% Equity
  • Valuation/ Networth: ₹25 Crores
  • Funding: No Deal
  • Sharks: No Deal
  • Episode: Season 3 Episode 34

Erotissch Shark Tank India Pitch:

Erotissch is an Indian startup which appeared on Shark Tank India Season 3 Episode 34. They have developed a swimwear range designed for Indian women. The company also have nightwear for lingerie and beachwear for swimwear. They had over 1 lakh customers by the time of their pitch. The founders sought an investment of ₹75 lakhs for 3% of the company valuing the business at ₹25 Crores.

Erotissch was launched in 2019 through AJIO. Then they launched on Myntra in December 2019. The founders shared that their father provided the initial capital for their business. Their lingerie category includes bras and panties, swimwear category has swimming costumes and beachwear.

Erotissch’s Revenue & Financials during Shark Tank India:

Erotissch closed their last year with ₹3.8 Crores of Revenue. In FY21-22, they made revenue of ₹2.5 crores and the company made ₹1.6 Crores a year prior. As for FY23-24, they have already made revenue of ₹2.8 Crores till November and they are projecting to close the year with ₹4.6 Crores in Revenue. 60% of their revenue came from selling sold designs and the rest came from prints.

Erotissch has priced their tropical Slice Monokini at ₹4,699. The founders shared that they do not do discounts on new collections for the first month. Notably, their majority sales come from Myntra where the average selling price is 30-40% lower than their website. Their average order value is at ₹1,074. Their bras are priced between ₹650-₹750.

The company shared that 63% of the total revenue comes from Myntra, 17% from Nykaa, 12% from Amazon and the rest from other marketplaces. 50% of their sales come from beachwear and 50% from lingerie. They have a profit margin of 1% on 63% gross margins. For unit economics, 12% goes to GST, 36% goes to marketplaces, 30% is COGS, 9% is their admin costs, 3% is their marketing cost leaving them with 10% EBITDA.

Erotissch Shark Tank India Negotiations & Funding:

Peyush was the first shark to go out because he felt like it was a bit too early for him to invest. He suggested founders renegotiate their contracts with marketplaces to lower commissions. Anupam goes out citing he didn’t understand positioning or strategy. Azhar goes out citing this is not yet investable. Vineeta goes out due to pricing and brand strategy being too confusing. Aman goes out citing he couldn’t understand the business properly. Erotissch walked out of the tank without funding.

Who is the founder of Erotissch?

Anushka Agarwal & Aayuushi Agarwal founded Erotissch. They are from Agra. Aayuushi studied at the National Institute of Fashion Technology in Kolkata and worked as a production manager in the nightwear industry.

How is Erotissch doing after Shark Tank India?

Our research on Erotissch revealed that despite not getting a deal on Shark Tank, their appearance on the show gave them nationwide exposure and validation which would, in turn, translate into sales. We will update this article with their revenue numbers soon but in the meantime, you can check out their products by clicking the Amazon Button below!

Amazon

Thank you for supporting the blog as we make small commissions on purchases done through the above link.

Source: Instagram @erotissch_

Here are other companies from Season 3 Episode 34:

Niblerzz

How is Niblerzz Doing After Shark Tank India?

Sorich

How is Sorich Doing After Shark Tank India?

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