How is Fabriclore Doing After Shark Tank India?

Founder/Owner: Vijay Sharma, Anupam D Arya and Sandeep Sharman
Business: Custom Fabric Sourcing
Ask: ₹68.7 Lakhs for 1% Equity
Valuation/ Networth: ₹68.7 Crores
Funding: No Deal
Sharks: No Deal
Episode: Season 3 Episode 26

Fabriclore Shark Tank India Pitch:

Fabriclore simplifies fabric sourcing for fashion brands through its tech-enabled platform designed specifically for private labels. Offering a diverse range of fabric options, printing and dyeing services, along with low minimum order quantities and competitive pricing, Fabriclore has established itself as a preferred choice for designers and brands alike. Through partnerships with over 200 vendors, Fabriclore has built a strong production and design ecosystem. Serving a customer base of 250, Fabriclore made the strategic shift to a B2B model in January ’23 after operating as a consumer brand for six years.

Fabriclore Financials & Revenue during Shark Tank India:

In June ’20, Fabriclore initiated its first round of fundraising, securing ₹4.2 crores at a pre-money valuation of ₹16 crores. Subsequently, in 2021, they raised ₹5.2 crores at a pre-money valuation of ₹55 crores. By August ’22, they had garnered ₹2.8 crores at a pre-money valuation of ₹72 crores. However, facing financial constraints by March ’23, the founders resorted to taking a home loan of ₹1.1 crores to sustain operations. Despite this, they received an investment commitment of ₹8 crores at a pre-money valuation of ₹56 crores.

Presently, the company has booking orders worth ₹85 lakhs and achieves monthly sales of ₹40-₹50 lakhs, boasting a gross margin of 20%-22%. Notably, in FY23-24 Q1, they achieved sales of ₹1.7 crores, followed by ₹1.3 crores in Q2. Furthermore, in Sep ’23, their sales totaled ₹40 lakhs, with COGS amounting to ₹30 lakhs, salaries and office rent totaling ₹24 lakhs, resulting in an EBITDA of -₹14 lakhs.

Who are founders of Fabriclore?

Fabriclore was founded by Vijay Sharma, Anupam D Arya, and Sandeep Sharma from Jaipur, Rajasthan. Vijay and Sandeep each hold 21.68% equity, while Anupam holds 13.49% equity in the company.

Fabriclore Shark Tank India Negotiations & Funding:

Azhar opted to exit from negotiations due to the high complexity of the work and the high burn rate. Namita also chose to step away from the negotiations, citing the business’s losses and scalability issues. Peyush also decided to exit from negotiations. On the other hand, Amit advised them to prioritize capital infusion without considering valuations to rescue the business and chose to sideline from the negotiation. Anupam believed that the valuations were too high considering the high cash burn and expressed concerns about the potential return on investment, leading him to opt out.