Rubans Shark Tank Pitch:
Rubans Accessories stands as a pioneering fashion jewelry brand known for its high-quality and trend-setting designs. They also claim to be India’s fastest-growing jewelry brand. Founders shared that, They have over 25 lakh customers. Their vision is to make Rubans India’s biggest fashion Jewelry brand. To make this vision a reality, They sought an investment of ₹1.5 Crore for 0.5% of the company.
All products are made in India and 80% of products are company’s own designs and rest are curated. Additionally, They have a repeat rate of 30%. Founders added that, they are completely bootstrapped and have not raised any funding. The company also shared that, they have 38,000 searches per day and 40% consumers search their brand name on Myntra to buy their products. Furthermore, They get 18,000 orders from just Myntra alone where they have rating between 4.5-4.8 stars. Moreover they are the highest selling brand for Myntra. around 75% of business comes from Myntra.
Rubans Financials/Revenue during Shark Tank:
Their lifetime sales are at around ₹200 Crores. Firstly, Their FY20-21 sales were at ₹29.7 Crores followed by ₹51 Crores in FY 21-22 which gives them growth rate of 71.7% with EBITA of 8%. In addition to that, Their projected sales for FY22-23 are at ₹65 Crores. Furthermore, They are expecting net revenue of ₹45 Crores with EBITA of 15%. Also, Their Average selling price is at ₹800 with gross margin of 70% on those products.
Rubans Shark Tank Negotiations and Funding:
Amit asks if the founders are open to bring another co-founder for Tech and marketing which entrepreneurs refused. Amit goes out of the deal citing lack of openness to bring a co-founder to the company. Peyush thinks that it would require lots of time to build a strong team therefore he goes out of the deal.
Vineeta gives the first offer of ₹1 Crore for 1% of equity and rest as debt at 12% with Namita coming along on the same deal. Anupam offers ₹1.5 Crores for 1.5% of the company and he comments that taking debt would not be wise. Aman asks if he could join Vineeta & Namita’s offer which they accept. Company counters and asks Namita, Vineeta and Aman to match Anupam’s offer which they refuse. Founders still accepts three shark deal and they shake hands on that.
Who is founder of Rubans?
Chinu Kala & Amit Kala Founded Rubans in 2014. Chinu’s journey, showcased on Shark Tank India, reveals an incredible tale of resilience and determination. At the tender age of 15, Chinu faced familial discord, leading her father to ask her to leave their home. With only a pair of clothes and ₹300 in her pocket, she embarked on a challenging journey.
Arriving in Mumbai, she spent days at the station, contemplating her limited resources. Realizing the need to work, she seized an opportunity in door-to-door sales after a chance encounter with a woman. Despite initial rejection and heartbreak, Chinu persevered, making her first sales and gradually navigating through various jobs.
Her path took a turn when she participated in the Mrs. India Pageant, where she discovered the transformative power of beautiful jewelry in enhancing one’s appearance. , leveraging her passion for fashion and years of learning, she founded Rubans Accessories.
How is Rubans doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Sharks did close after the show aired. Chinu shared on her instagram that
“Aman’s insights have broadened my perspective in countless ways, from branding and scaling a business to facing everyday life with the right attitude. His knowledge of market trends is unparalleled, and that has been helping scale Rubans like nothing before (perks of having sharks on your side I suppose). Whenever I meet him, I take away with me a list of new things to explore.”
@chinu_kala
Rubans continue to grow and the company signed Bollywood actress Sonakshi Sinha for their campaign in 2023. As of December 2023, the Company is still in business and growing. They have a strong social media presence with over 1 lakh followers. While the financials of the company are still unknown, we will update this article as soon as more information comes to light.
Source: Instagram @rubans.in
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