How is Littlebox Doing After Shark Tank India?

Founder/Owner: Partha Kakati & Rimjim Deka
Business: Fast Fashion
Ask: ₹75 Lakhs for 1% Equity
Valuation/ Networth: ₹75 Crores
Funding: ₹75 lakhs for 2.5% Equity
Sharks: Anupam Mittal, Namita Thapar, Vineeta Singh, Aman Gupta & Amit Jain
Episode: Season 3 Episode 35

Littlebox Shark Tank Infdia Pitch:

Littlebox is an Indian startup which appeared on Shark Tank India Season 3 Episode 35. They are a fast fashion D2C brand which specifically targets Gen Z consumers. They sought an investment of ₹75 lakhs for 1% of the company, valuing the business at ₹75 Crores. The company was started in June 2022, and since then they have shipped over 2 Lakh orders across India. They currently ship over 1200 orders per day on average.

Littlebox operates from two places. All their backend setups like marketing, IT, etc., are based in Guwahati, Assam, but they have factories and a warehouse in Delhi where the products are made. Rimjim takes care of the Creative, Marketing & Human Resource side of the business, and Partha takes care of everything concerning technology & Operations. The founders also shared that currently, they are working on eliminating deadstock by getting customers’ feedback on designs before production.

Littlebox’s Financials & Revenue during Shark Tank India:

Littlebox makes all their sales from their website. The founders added that they have 1.75 Lakhs followers on their Instagram account. In August 2023, They did revenue of ₹2 Crores. They are projecting to close the FY23-24 with revenue of ₹36 Crores. The founders also added that they are EBITDA positive which averages around 15% for this year. They have 4 factories in Delhi with a capacity of 2000 units.

Littlebox has an average order value of ₹1,250, out of this 40% is the COGS and 10% goes to logistics giving them a 50% gross margin. Also, they spend 20% of that on marketing, 15% on operational costs including rent salaries giving them 15% EBITDA. Their repeat rate is at 22%. They have a returns to origins at 21%, and the exchange rate is at 7%. 10% of their sales come organically, and the rest comes due to paid marketing.

Littlebox Shark Tank India Negotiations & Funding:

Aman puts out the first offer of ₹50 Lakhs for 2% and the rest as debt at 12% for two years. Namita gives the second offer of ₹30 lakhs for 0.5% and the rest as a royalty deal of 2% until she makes ₹90 Lakhs back. Vineeta also puts the offer out of ₹75 lakhs for 2% valuing the company at ₹37.5 Crores. Amit gives the fourth offer of ₹50 Lakhs for 1% and the rest as debt at 12% for two years.

Anupam was also interested in the company and gives them the offer of what they asked for but with a royalty deal. He offered ₹75 lakhs for 1% valuing the business at ₹75 Crores, along with that he added that he would take 2% of net sales until he recoups ₹1.12 Crores back. Vineeta revised her offer to ₹75 Lakhs for 1.5% of the company valuing them at ₹50 Crores but with no debt or royalties. Aman matched Vineeta’s offer. Anupam removed the royalties from his offer and goes straight to ₹75 lakhs for 1%, which is a dream deal of exactly what founders asked for. Amit matched Anupam’s offer.

The founders take a moment to think and come back to ask if they could get all Shark deal which Aman refused. They still countered with ₹1.88 Crores for 2.5% of the company if all sharks would come together, notably, this would value their business at ₹75 Crores. Sharks countered that with ₹75 lakhs for 2.5% of the company with all of them coming in the deal. The founders accepted that deal without any hesitation, and they shook hands on ₹30 Crores valuation.

Who are the founders of Littlebox?

Partha Kakati & Rimjim Deka founded Littlebox. They are from Guwahati Assam. They’ve been married for 16 years. Rimjim has a bachelors in Mass Communication & Journalism. She was a co-founder of another D2C fashion brand in 2012.