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Very Much Indian has Raised INR 50 Lakhs for the equity of 10 percent from Shark Tank India season 2. Aman Gupta and Namita Thapar invested in this startup.
Slony Gambhir and her husband appeared on Shark Tank India Season 2 Episode 2 with Very Much Indian and demanded the sharks 50 lakhs for 3% equity at a valuation of 16.67 crores. Namita decides to submit a proposal. She offers fifty lakhs for ten percent stake at a five crore valuation. This company sells more than 100 sarees each month.
Peyush Bansal declared that he was out of the deal because there was already an offer. Vineeta Singh leaves because she thinks Namita’s offer is reasonable. Anupam Mittal stated that the textile industry does not interest him. Hence he is out. Together with Namita, Aman Gupta offered 50 lakhs for 10% equity. And the pitchers agreed to the deal.
About Very Much Indian
The creator of Very Much Indian Business, Slony Gambhir, comes from a textile-related family. She started working in her father’s textile store at 14, managing customers and handling accounts. After completing her BTech and MBA courses, she worked in corporate for ten years.
She started her saree business, Very Much Indian, out of her Pune home in 2016, after quitting her job. She began her business by borrowing 25 sarees from her father, and her husband helped her succeed.
The luxury Indian saree brand Very Much Indian creates and markets handcrafted sarees online. They attempt to give each of their sarees a quality appearance, and all of them include stylish designs.
Many women around the world favour sarees over other clothing. People wear sarees in various Asian nations, including Myanmar, Malaysia, Cambodia, Thailand, and India.
Indian ladies dress in sarees for various occasions and events, including political rallies, college farewells, corporate board meetings, and more. A saree can be anywhere between 3 and 9 yards long at first. The buyer can find sarees from this brand at every price level. This brand is connected to 400+ communities of weavers in India.
It offers various sarees, including silk, cotton, polyester, with or without zari, mill-made, and many more. Along with pricey sarees, this business also sells the cheapest sarees.
This business purchases sarees directly from weavers throughout India and sells them on its website. All prominent saree types, such as pure silks, cotton, cotton silks, linen, Paithani to Banarasi, Kota, Kalamkari, Maheshwari, and many more, are included.
The lowest-priced saree of this brand is INR 1,800, while the most expensive is INR 78,000. Their yearly sales for the fiscal year 2018–19 were 17 lakhs. Their annual sales up until the financial year 2019–20 were up to 20 lakhs. When the pandemic hit in the fiscal year 2020–2021, their yearly sales rose by 225% to 65 lakhs rupees. The fiscal year 2021–2022 had 1.5 crores in annual sales.
By the end of 2023, they are projected to generate annual sales of 2 crores. Sarees typically cost around 10,000. This has a 35% gross margin and an approximate 15% profit.
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Problem Solved by Very Much Indian
The popularity of this saree brand in India is high. Additionally, this brand offers the goods for wholesale purchase. On Google Playstore, this brand’s app has received over 100 downloads. Everyone can utilise the platform because it is convenient. Many weavers would sell you high-quality hand-crafted sarees directly.
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