Rubans has raised INR 1 crore for 1% equity and 50 lakhs debt at 12% interest. Amit, Namita, and Vineeta invested in this startup. The pitchers asked for 1.5 cr. for 0.5% equity of the company.
At first, Namita and Vineeta offered 1 crore for 1% equity and 50 lakhs at a 12% interest rate. Then Anupam offered 1.5 cr. for 1.5% equity. The owner asked to revise the offer for Namita, Vineeta, and Aman to eliminate the debt.
Also Read The Healthy Binge has raised INR 50 lakhs rupees in exchange for 5% equity at a valuation of 10 crore rupees.
The founders of the company are Amit Kala and Chinu Kala. They are from the garden city of Bangalore. Due to some problems, Chinu has to leave her home. She had financial difficulties. Amit was someone she met when she started working in customer service at Tata Indicom in 2002. For eleven long years, Amit has worked in the distribution industry for ESPN and Star Sports. He worked for Viacom 18 from 2011 to 2020. Afterward, he made a full-time commitment to Chinu.
Life is enchanted and lovely. But the owner felt burdened as she left her home with only 300 rupees. Her existence was shrouded in gloom. Then she understood how much a tiny piece of jewelry could alter someone’s appearance. The jewelry market was extremely crowded at the moment. There was expensive jewelry on one end and inexpensive counterfeit jewelry on the other. So she discovered Rubans to help her solve this issue. A high-end, innovative, and fashion-forward jewelry company is Rubans.
India’s fastest-growing jewelry company right now is Rubans. They began in 2014 and have since serviced 25 lakh clients. Their products are produced in India. Their hubs are primarily expanded to small villages in Kolkata, Mumbai, and Delhi, with Rajasthan having the most. They have 20% of the selected design and 80% of their design. Their 30% repeat business percentage. They are self-funded. 40% of Myntra consumers conduct brand-specific searches. Each month, they receive an average of 3800 searches and 15000 purchases. Their products are generally rated 4.5 to 4.8.
Rubans business Statistics:
The company’s lifetime sales are around 200 crores. Sales in FY 20-21 were 29.7 crores of rupees, while sales in FY 21-22 were 51 crores. By the end of this year, they expect to generate 65 crores in revenue. 15% is the estimated EBITDA. 25% of their revenue comes from their website and markets, and 75% comes from Myntra. Their profit margin is 70%, and their ASP is 800 rupees. 81% of the stock belongs to Chinu and her mother, and 19% is part of the Myntra accelerator program.
What Problem Do They Solve
The fastest-growing jewelry company in the nation, Rubans Accessories, features a fascinating fusion of brilliant artistry and modernity. Chinu Kala, a first-generation businessperson, created RUBANS. Artisans painstakingly chose the company’s collection of over 2000 designs from all over the nation. In this pitch of Rubans Jewelry & Accessories Business, Shark Namita praised the founder very well and said there is a lot of difference between her and Shark’s training. Because she learned from the masters, and the founder learned from the situation.
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