- Founder: Mayur Bharatbhai Gediya
- Business: Lehenga Choli
- Ask: ₹1 Crore for 2% Equity
- Valuation/ Networth: ₹50 Crores
- Funding: ₹1 Crore for 4% Equity
- Sharks: Ritesh Agarwal & Kunal Bahl
- Episode: Season 4 Episode 2
BL FABRIC Shark Tank India Pitch:
BL FABRIC is an Indian startup which appeared on Shark Tank India Season 4 Episode 2. They sell designer Lehenga Choli through their website. The founder shared that they specialize in three types of embroidery, sequence work, thread work & zari work. The company have served over 65,000 customers over the past 3 years. The founder sought an investment of ₹1 Crore in exchange of 2% equity in the company valuing his business at ₹50 Crores.
BL FABRIC follows the current design trends and makes its outfits accordingly. The company make all their clothing in-house. They have a team of 25 people who manage over 200 designs. The founder shared that they currently have over 30 lakh followers on their Instagram and youtube. The company launched 25 new designs every month.
BL FABRIC sells its products in a semi-stitched manner. They sell Unstitched Cholis, semi-stitched Lehengas & ready-to-wear dupattas. The sharks calculated that the company is pricing very competitively as they are selling their products at 65-70% lower prices than the normal market. They also have 200-250 SKUs in stock at all times.
BL FABRIC’s Financials & Revenue during Shark Tank India:
BL FABRIC was started in 2021. The company makes their entire revenue through their own website. The company made a revenue of ₹1.42 Crores in FY21-22 with a net profit of 4% followed by ₹1.85 Crores in FY22-23 with net profit of 5%. They closed their last financial year with a revenue of ₹5.25 Crores with 3% net profit. As for FY24-25, The company has already made ₹5 Crores in revenue by September with 10% net profit and they are projecting to close the year at around ₹18 Crores.
For Unit economics for an item priced at ₹3,799. COGS takes the biggest share with ₹2,400, and Shipping & RTO take another ₹300. Their returns are at 3-4% a month. The company made a revenue of ₹2.4 Crores in October 2024 and they spent ₹13 lakhs in marketing. The company is paying ₹5 Lakhs in salaries every month.
BL FABRIC Shark Tank India Negotiations & Funding:
Namita felt like it was too early for her, so she went out. Vineeta went out due to the company not having enough margins to scale the brand long-term. Ritesh gives out the first offer of ₹1 Crore in equity against 5% equity. Kunal also offered the same deal as Ritesh. They both valued the company at ₹20 Crores. Aman went out citing the founder already has good offers.
The entrepreneur countered both sharks with ₹1 Crore for 3%. Ritesh offered ₹1 Crore for 4% with the condition that the company would do a minimum ₹15 Crore in revenue for FY24-25 otherwise he would take 5%. Kunal matched Ritesh’s offer. The founders asked if both sharks could come together, to which they agreed to deal with that condition.
Who is the founder of BL FABRIC?
Mayur Bharatbhai Gediya founded BL FABRIC; He is from Surat Gujrat! He graduated with a Bachelor of Engineering in 2015 and has been in the clothing business ever since.
How is BL FABRIC doing after Shark Tank India?
Our research in the company revealed that while they did get a deal on Shark Tank India, Their deal with the Sharks is yet to close. The company’s pitch just aired today on January 7th so currently they are experiencing shark tank effect. Mayur currently have 150k followers on Instagram & BL fabric has 860K, if you are curios on how much impact shark tank has on the company’s you can compare these numbers in upcoming days. While their products are not avaiable on amazon, you can check out other companies by clicking the button below!
Thank you for supporting the blog, as we make small commissions on purchases through the above link.
Do you know? not all the deals agreed on Shark Tank close after the show. If you are curious to see which deals did not close after the show, you can click the button below to find out!