How is Gulabo Jaipur Doing After Shark Tank India?

Founder/Owner: Saloni Panwar and Salman Malawat
Business: Traditional Jaipur Clothing
Ask: ₹90 Lakhs for 1%Equity
Valuation/ Networth: ₹90 Crores
Funding: No deal
Sharks: No deal
Episode: Season 3 Episode 24

Gulabo Jaipur Shark Tank India Pitch:

Gulabo Jaipur, an Indian clothing company, made its appearance on Shark Tank India Season 3 Episode 24. Being a premium brand inspired by Jaipur’s Karigaari, they are specializes in anarkalis, lehengas, Co-Ord sets, kurta sets, and various other garments featuring designs such as dori and sequins, gota patti, muslin with computer embroidery, block print, and more. Notably, they market and sell their products on their own website, flagship stores, and various marketplaces.Gulabo Jaipur has a vision to showcase Jaipur Karigaari to the entire world.

Gulabo Jaipur Revenue & Financials during Shark Tank India:

In FY20-21, Gulabo Jaipur recorded sales of ₹2.1 crores. The subsequent year saw a significant increase, with sales surpassing ₹3.8 crores. By FY22-23, sales had further climbed to ₹4.5 crores. As of FY23-24 (till November), they have already exceeded ₹4 crores in sales and anticipate closing the year with ₹8 crores, achieving a 15% EBITDA. Also, For their sales split, 65% comes from the Gulabo Jaipur website and 35% from marketplaces, with 7%-9% spending of sales.

Who are founder of Gulabo Jaipur?

Gulabo Jaipur was founded in 2014 by Saloni Panwar and Salman Malawat. Salman Malawat completed his law degree from Symbiosis Law School, Pune. Saloni handles all the designing and creative work, while Salman takes care of operations. Also, They are entirely bootstrapped

Gulabo Jaipur Shark Tank India Negotiations & Funding:

Aman chose to exit negotiations first as he felt the valuation was too high and believed he could not add much value to the business. Vineeta also decided to step aside from negotiations because she perceived a contradiction between the brand name and the products. Additionally, she viewed the brand as more luxury-oriented, which could pose difficulties for online selling in the future.

Namita expressed concerns about the intense competition in the market and Gulabo Jaipur’s lack of a clear unique selling proposition (USP). She believed they needed to work on establishing a stronger USP to attract investors, leading her to choose to exit. Anupam opted out because he felt the team lacked a clear vision for the future. Lastly, Ritesh felt that the founders lacked clarity regarding which segment they wanted to focus on, which he believed was necessary for attracting investment. Consequently, he chose to exit negotiations.