- Entrepreneurs: Slony Gambhir
- Business: Traditional and Ethnic Sarees
- Ask: ₹ 50 Lakhs for 3% Equity
- Valuation: ₹16.6 Crore
- Result: ₹ 50 Lakhs for 10% Equity
- Sharks: Namita Thapar and Aman Gupta
- Episode: Season 2 Episode 2
Shark Tank Pitch:
In the world of fashion, sarees have always held a special place, and Very Much Indian, a premium saree brand, set out to redefine the saree experience. This startup is dedicated to producing and selling exquisite handmade sarees through its website. What sets them apart is not just their craftsmanship but also their commitment to infusing each saree with fashionable designs, giving it a premium and contemporary look.
The driving force behind Very Much Indian is Slony Gambhir. Armed with a family background in textiles and a decade of corporate experience following her BTech and MBA studies, Slony made the bold decision to pursue her passion for sarees. In 2016, she took the leap, quitting her corporate job, and from her home in Pune, she embarked on the journey of building Very Much Indian.
The Pitch and Valuation: Rs 50 Lakh for 3% Equity
Slony, accompanied by her supportive husband, made her debut on Shark Tank India Season 2, Episode 2. They faced the formidable panel of investors, the ‘sharks,’ which included Anupam Mittal, Namita Thapar, Aman Gupta, Ashneer Grover, and Peyush Bansal. Their pitch was nothing short of audacious and impressive—they sought an investment of Rs 50 lakh in exchange for a 3% equity stake in their company. This valuation placed Very Much Indian at an impressive Rs 16.67 crore.
Shark Tank Negotiations:
While the sharks were undoubtedly interested in Very Much Indian’s business proposition and its potential for growth, they had concerns. Key issues raised during negotiations included the startup’s valuation, scalability prospects, product differentiation, and market size.
In the midst of negotiations, Aman Gupta and Namita Thapar emerged as potential partners. They made an offer of Rs 50 lakh for a 10% equity stake, expressing their appreciation for the product but noting their concerns about the valuation. The other sharks refrained from making offers. After some consideration, the founders accepted the offer from Aman Gupta and Namita Thapar. They were confident that having two mentors would enhance their journey of growing the business.
How Is Very Much Indian Doing After Shark Tank?
Their deal with Sharks closed and In the post-Shark Tank India landscape, Very Much Indian has continued to make significant strides in the world of premium sarees. Their journey has been characterized by growth, expansion, and a steadfast commitment to their vision.
Some sources suggest that Very Much Indian’s compelling pitch on Shark Tank India attracted the attention of more than just the sharks. The startup secured an angel investment, bolstering its financial resources and growth potential.
Building on their core offerings of premium sarees, Very Much Indian has expanded their product range. They now offer a wider array of saree and variants. Additionally, the startup ventured into new territory, introducing a line of organic cotton sarees named ‘Very Much Eco.’ This strategic move aligns with the increasing consumer demand for sustainable and eco-friendly fashion options.
Very Much Indian has made significant headway in establishing a strong online presence. With over 23,000 Instagram followers, the brand effectively engages with its audience, sharing updates, style tips, and insights into the world of sarees and fashion.
Image Source: Very Much Indian Instagram
Here are other companies from Shark Tank India Season 2 Episode 2.
What do you think the future of Very much Indian looks like? Comment below with your thoughts.
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