Angrakhaa ₹40 Lakhs for 20% Equity Win on Shark Tank India

Angrakhaa, established in 2018 by Vishakha Bhaskkar and Asana Riamei, specializes in providing fashionable and inclusive clothing for women. They offer trendy and stylish clothes for all sizes, with a focus on customization, and all their sizes are priced equally. Angrakhaa has successfully fulfilled over 10,000 orders and has amassed a following of over 55,000 on their Instagram. They are now looking to expand into the Indian wedding market for both men’s and women’s clothing. The founders sought an investment of ₹40 Lakh for 5% of the company.

Click here to visit their official website: Angrakhaa

On their website, they maintain a 50/50 ratio of plus-size and regular-size clothing, which the founders designed themselves. The company experienced sales of ₹14 lakh in the first fiscal year (FY 19-20), followed by ₹7 lakh in the subsequent year (FY 20-21). The decrease in sales was attributed to the pandemic, according to the founders. However, in FY21-22, they generated ₹1.16 Crores in revenue. The company attributes its growth rate to its focus on the performance market in the last financial year.

Angrakhaa exclusively vends through their own website, typically dispatching orders within 7-8 days. Approximately 27% of their orders consist of customization requests. In May 2022, they garnered ₹13 Lakh in revenue, followed by ₹15 Lakh and ₹24 Lakh in June and July, respectively. In July, the company allocated ₹2.9 lakh towards marketing and launched an exclusive collection of prints, contributing to the sales growth.

Concerning unit economics, a dress with a market price of ₹2900 incurs a production cost of ₹900 for the company. Additionally, they pay a GST of ₹350, with an additional logistics cost of ₹100. After deducting marketing expenses of ₹300, the company pockets around ₹1200 in profit. Angrakhaa disclosed that their net profit for the previous year stood at 20%, but this year’s figures appear promising at 35%. Their repeat purchase rate stands at 27%.

Related: Sana Farheen’s Forever Modest at Shark Tank Leads in Indian Women’s B2C Retail Sector with $24.4K Funding

Vishakha Bhaskkar and Asana Riamei are the founders of Angrakhaa. Asana, who hails from Manipur, uses the nickname Asana that was given to her by her parents to simplify the pronunciation of her lengthy actual name, Sangailungliu Riamei. On the other hand, Vishakha pursued her economics studies at Sri Ram College of Commerce. She began her career by writing fashion blogs specifically for plus-size women.

During the presentation, Peyush was the first investor to decline participation and advised the founders to reconsider seeking investment due to their impressive performance metrics. He also cautioned that managing multiple categories could pose challenges in the future. Namita echoed Peyush’s sentiments and opted out of investing, expressing doubts about the business’s viability. Aman withdrew his interest due to concerns about the company’s unclear brand strategy, while Anupam cited the absence of a unique selling proposition (USP) as his reason for not investing.

On the other hand, Amit expressed interest in assisting the company with digital marketing and proposed an investment of ₹40 lakh for a 20% stake. The founders countered with a 15% stake, but Amit declined the offer. Eventually, they reached an agreement, and Amit invested ₹40 lakh for a 20% market share in the company.

After our investigation into the company, we discovered that despite their initial agreement with Amit on the show, the deal with Shark Tank India did not come to fruition. Nevertheless, Angrakhaa continues to thrive. As of July 2024, they have amassed over 123 thousand followers on Instagram, and their presence is still growing. Some of their video clips have garnered over a million views, bolstering their engagement on social media and subsequently increasing their sales. While their financial details are not yet publicly accessible, we will update this article as soon as more information becomes available.