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Pabiben has raised INR 50 lakhs from shark tank season 2. Namita invested in this startup. The owner asked for ₹50 lacs for 5% equity of the company at a valuation of 10 crores.
Namita offered 5 lakhs for 2% equity and 45 lakhs for debt with a 0% interest rate. The owner’s counter offer was 10 lakhs for 5% equity and 40 lacs debt at 0% interest. And the deal was finalised with Namita at 10 lakhs for 5% equity and 40 lakhs debt at a 0% interest rate.\
Also Read Dhruv Vidyut has raised 100 hours in exchange for 0.5% equity from shark tank season 2. Aman, Peyush and Anupam finalized the deal. The owner asks for 100 hours in exchange for 0.5% equity in the company.
About Pabiben
The founder of pabiben.com is Pabiben Rabari. She is from Gujarat. She considers herself a businesswoman and is known as a master artisan. Two other people, Nilesh Priyadarshi and Nupur Kumari, are also associated with this business. Pabiben was just 3 years old when her father died. She did not attend school because her mother, a young widow, needed help raising her sisters. Pabiben was the eldest and helped care for her sisters.
Nilesh used to work on handicrafts for 10 years in Kutch. Nilesh handled marketing, and Nupur worked on designing. All three of them, Nupur, Pabiben and Nilesh, have an equal equity share of 33.3% of the company.
Pabiben.com is an online platform that gives recognition to artists. It was born in Kukadsar, a small town in Kutch. In their community, women learn the art from an early age. But big designers buy this artwork cheaper and sell it at higher prices. Therefore, the women get no money and no recognition. This affected Pabiben Rabari a lot, and she was unhappy with that. Then she started Pabiben.com. They manufacture different types of accessories, bags and gift boxes for consumers. They have the vision to find such artists from all over India, to give name recognition and start their business. So that they can represent their work in front of the world. There are three initiatives taken under this company: First is pabiwan.com, where the Rabari embroidery products are sold. Second is the Karigar clinic, where health check-ups of women artists are conducted, and the third is The Karigar ki dukan; this platform allows staff to explore the market of the products.
Pabiben Business Statistic:
The cost price of a machine embroidery bag is ₹1790. Their handmade embroidery bag is worth ₹ 6900. They have around 500 SKUs. Their lifetime sales are 2 crores. Sales in the year 2021-22 were 36 lakhs. In 2020-21 it was 28 lakhs. In 2019-20 sales were 33 lakhs. The net margin is 35%, while the gross margin is 50%.
What Problem Do They Solve?
While the elder council of the community banned wedding embroidery, professional embroidery was still allowed. Pabiben took advantage of this opportunity and joined the women’s group in 1998 and soon became known as a master artisan. They invented an art form called ‘Hari Jari’, which is an amalgamation of hand and machine application of readymade elements like ribbons and trims. They made a sample of a shopping bag. It was a hit and was christened the “Pabi Bag”. The Pabi Bag was introduced to the contemporary market. Also shown in Hollywood and Bollywood films and has become popular worldwide. The authenticity of these bags blends completely with modern aesthetics.
Her craft is not just a result of hard work and creativity but also echoes the voice of women’s empowerment. It is also a platform that gives recognition to artists.
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