Pabiben Shark Tank Pitch:
Pabiben Rabari, an esteemed artisan and entrepreneur hailing from Kutch, Gujarat, India, has made a mark with her handcrafted products, notably the Pabi Bags. The company sought funding of INR 50 lakhs for a 5% equity stake valued at INR 10 crore in Shark Tank India Season 2 Episode 32 for her company. All their products are made with Rabari embroidery and are made by hand. Their products can be purchased from their own website.
Their company have three initiatives, the first one is to sell Rabri embroidery, second one is Kaarigar clinic which helps artist across the world to set up their own business. Lastly, They also have an initiative called Kaarigar Ki Dukaan, which gives a platform to artists to sell their products. Pabiben.com is the first model of their company called Eye Catching.
Bag price is 1790 for products made by machine and ₹6900 for handmade. They have around 500 SKUs and have ₹2 Crores in revenue in 5 years. They did ₹33 lakhs in FY19-20 followed by ₹28 lakh and ₹36 lakhs. Their margin is at 50% and net profit is at 30%.
Pabiben Shark Tank Negotiations and Funding:
Peyush doesn’t think the company should raise an investment therefore he goes out of the deal. Aman also follows Peyush’s lead and went out of the negotiations. Vineeta comments that its too early for the investment so she goes out of the deal as well. Anupam shared the same sentiment and goes out as well. Namita wanted to join the company to support Pabiben, She offers ₹5 lakh for 2% and rest as interest free debt. Company takes a moment to think and comes back to counter at ₹10 Lakh for 5% and rest as debt which Namita accepts and they shake hands on that.
Who is the founder of Pabiben?
Pabiben Rabari & Nilesh Priyadarshi Founded Pabiben along with another co-founder Nupur Kumari. They come from Ahmedabad. Nilesh has worked in Kutch for 10 years and he helped Pabiben set up the business and helped with marketing. Nupur kumari helps with design. They all have equal split in company.
How is Pabiben doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Namita closed after the show aired. Pabiben became a star after the show aired and even had an opportunity to appear on KBC and meet Amitabh Bachchan. They are still operating their model of Karigar Clinic as well but Karigar ki dukaan still does not have a web presence. As of December 2023, Pabiben is still in business and thriving, They have over 50,000 instagram followers on Instagram.
Source: Instagram @pabiben
Here are updates on other companies from Season 2 Episode 31
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