House of Chikankari Shark Tank Pitch:
House of Chikankari, a Delhi-based e-commerce venture by Akriti and Poonam Rawal, specializes in hand-embroidered chikankari clothing for both women and men, including kurtas, kurtis, palazzos, and dupattas. Since their inception, They have employed over 5000 women Karigars and served over 15000 customers. They sought an investment of ₹75 lakh for 1% of the company.
Their price range is from ₹2350 to ₹7000. They started in 2020 and are only available through their website. They are planning to launch in marketplaces soon. Their first financial year of FY20-221 stood at ₹33 Lakh and they made ₹3.3 Crores in the following year. They have done ₹7.4 Crores between April to September for FY22-23 with projection to close the year at ₹15 Crores. They have 70 people in their team. Their gross margin is around 70% and net margin is at 15%. They would make ₹2 Crores in profits this year.
They are completely bootstrapped but have an investment from Akriti’s dad of ₹70 lakh for 25% of the company. 33% of their total sales comes from the international market and the rest is from India. Their repeat rate is at 33%. They have inventory in-house for the next 2 months. They have around 5% in deadstock.
House of Chikankari Shark Tank Negotiations and Funding:
Aman gives the first offer of ₹75 lakhs for 5% of the company. Namita goes out of the deal because Aman wanted to go solo and didn’t wanted to join hands with her and she didn’t wanted to get in fight with Aman for the deal. Anupam and Vineeta come together for an offer of ₹75 lakh for 6% of the company. Peyush offered ₹75 Lakh for 5% and commented that he is fine going with Aman as well which Aman Accepted. Founders countered at 2% to which Peyush countered with 4%. Anupam matched peyush’s 4% for ₹75 Lakh offer. The company countered at 3%. Aman countered that at ₹75 Lakh for 3.75% of the company which Akriti accepted.
Who are the Founders of the House of Chikankari?
The daughter-mother duo of Akriti and Poonam Rawal started the House of Chikankari. They are based from Delhi. They started this brand during Covid. Akriti studied in London and graduated in 2018. she worked at another startup before this venture.
How is House of Chikankari doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Aman and Peyush closed. After her meeting with Peyush, Akriti shared:
Through our conversations, we gained a renewed sense of purpose and direction, and we’re now better equipped to expand our community of Chikankari lovers while positively impacting the lives of the talented artisans we work with. 💛
Instagram @aakritirawal
The founders shared in a conversation with Koimoi that they are living in Fantasy after Shark Tank. They got over 12k followers in just a day after the show aired. Their traffic has increased 5X and sales have increased by 4X after the show aired in just one day. The founders added that their appearance has given them validation and motivation in themselves and consumers.
As of December 2023, House of Chikankari is still in business with over 300K followers on Instagram. They ship internationally and provide free shipping for orders of $120. Their products have been seen on multiple well-known Bollywood celebrities like Shraddha Kapoor, Alia Bhatt, Mira Kapoor and many more.
Source: Instagram @houseofchikankari.in
Here are other companies from Season 2 Episode 8.
Magic Of Memories
Update coming soon!
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