- Founder: Raghav Goyal and Aaditya Fatehpuriya
- Business: Lifestyle Jewellery
- Ask: ₹ 50 Lakhs for 3.3% Equity
- Net Worth/Valuation: ₹15.15 Crore
- Result: ₹ 1 Crore for 10% Equity
- Sharks: Anupam Mittal
- Episode: Season 2 Episode 10
Zillionaire Shark Tank India Pitch:
Zillionaire, a jewelry and accessories brand, made an appearance on Shark Tank India Season 2, Episode 10. The founders, Raghav Goyal and Aaditya Fatehpuriya, initially sought ₹50 lakhs in exchange for a 3.3% equity share in their company. Zillionaire’s “Iced Out” jewelry line gained attention on the Shark Tank stage, a term associated with the hip-hop and rap culture, where “iced” refers to jewelry covered in diamonds. Zillionaire’s products are meticulously crafted with stylish designs and are created in collaboration with artisans from Jaipur, Rajasthan.
At the time of their pitch, they had 32,000 followers on Instagram, and their products were worn by celebrities like Raftaar, Ranveer Singh, B-praak, Munj Musik, and more. They have a gross margin of 60%, with approximately 400 pieces in stock. Their monthly production capacity is 300 pieces a day, but they currently produce 30-40 pieces daily. They design in-house, while production is outsourced to their family company.
Zillionaire Net-Worth, Valuation, Sales and Projections:
They achieved ₹1 Crore in revenue in the first 7 months of FY 22-23, with the last month bringing in 13 lakhs. Projections for this year are to cross 2 crores. FY 21-22 sales were at 72 lakhs, and the previous year’s sales were at 11 lakhs. They exclusively sell through their own website, with an average ticket price of ₹14,000. On average, they allocate 25% of their budget to marketing. Out of their 1 Crore sales this year, they spent 40 lakhs on Cost of Goods Sold (COGS), 25 lakhs on customer acquisition, 14 lakhs in salaries, 3-4 lakhs in shooting expenses, and had overhead costs of 2 lakhs, resulting in 15 lakhs in profits. The company is completely bootstrapped.
Namita loved the design but had concerns about the target audience and competition, so she declined the deal. Anupam offered ₹1 Crore for a 10% stake. Aman, Peyush, and Vineeta collectively offered ₹50 lakhs for 10%. After considering the offers, Aditya and Raghav took a minute to think and then returned to accept Anupam’s deal.
Was it a fair deal? Let’s find out how this turned out!
How is Zillionaire doing after appearing on Shark Tank India?
Our research on the company has revealed that Zillionaire closed the deal with Anupam Mittal and is thriving. As of October 2023, they have over 95,000 Instagram followers and have been featured by top celebrities like Varun Dhawan, Karan Johar, Divine, Badshah, and Sonakshi Sinha. While their financials are not publicly available, we will update this article as soon as more information becomes available.
Source: Zillionaire Instagram
Here are updates on other companies from Season 2 Episode 10!
Credmate
Update coming soon!