From Shark Tank 2.0, Ribbons raised 1.5 crores in funding

Rubans is a very popular jewelry company in India. They started in 2014 and have grown quickly, serving 25 lakh clients. They make their jewelry in India. They have hubs in small villages in Kolkata, Mumbai, and Delhi, with Rajasthan having the most. Rubans has a unique approach to their designs. They offer 20% of designs that are chosen by customers and 80% of designs that they create themselves. This helps them stand out in the market. Plus, 30% of their customers come back to buy more jewelry, showing that people love their products. Interestingly, Rubans is self-funded, meaning they don’t rely on external investors to run their business. This shows their independence and success.

When it comes to online searches, 40% of Myntra users search for Rubans specifically. This shows the strong brand recognition Rubans has. Every month, Rubans receives around 3800 searches online and 15000 purchases, indicating a high demand for their jewelry. Customers seem to love their products, as they generally rate them between 4.5 to 4.8 out of 5, showing high satisfaction with Rubans’ jewelry.

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Chinu Kala, one of the founders of Rubans, had to leave her home because of financial difficulties. Her friend and business partner Amit Kala has been by her side since they met while working together years ago. He has worked in various companies over the years before dedicating himself fully to supporting Chinu. Chinu felt sad and burdened as she had very little money left when she left home. She realized the power of jewelry in transforming a person’s look. However, the jewelry market was filled with expensive and fake jewelry. That’s when she found Rubans, a high-quality and trendy jewelry company that helped her overcome this challenge. Rubans offers unique and fashionable pieces of jewelry.

Rubans, a fashion company, has accumulated lifetime sales of approximately 200 crores with sales of 29.7 crores in FY 20-21 and 51 crores in FY 21-22. They project 65 crores in revenue by the year-end, driven by a 15% estimated EBITDA. Rubans derives 25% of its revenue from its website and markets, and 75% from Myntra. With a 70% profit margin and an average selling price of 800 rupees per product, the company displays healthy financial indicators. Additionally, 81% of the stock is owned by Chinu and her mother, while the remaining 19% is held by the Myntra accelerator program, showcasing a strong ownership structure and strategic partnerships for Rubans’ growth.

Rubans, a startup, wanted to raise money. They asked for 1.5 crore in exchange for 0.5% ownership of their company. Namita and Vineeta decided to invest 1 crore for 1% of the company and also gave 50 lakhs as a loan with 12% interest. Then Anupam came in and offered 1.5 crore for 1.5% of the company. Now, the owner of Rubans wants to change the deal with Namita, Vineeta, and Aman. The new deal will not include the 50 lakhs loan.

The founder, Chinu Kala, started the company and selects over 2000 designs from artisans all across the country. In a pitch on Shark Tank India, one of the investors, Shark Namita, praised Chinu Kala for her unique approach to learning and building the business. Namita mentioned that Chinu learned from experienced masters, while Namita herself learned from different situations.

Shark Tank India showcases a dynamic platform where aspiring business owners pitch their concepts to influential investors, hoping to gain the support and resources needed to scale their enterprises.