Handcrafted Fashion Startup Pabiben Captured Investor Attention on Shark Tank India

Pabiben Rabari, a recognized artisan and businesswoman from Kutch, Gujarat, India, has gained recognition for her handmade items, especially the Pabi Bags. In Season 2, Episode 32 of Shark Tank India, her company sought funding of INR 50 lakhs in exchange for a 5% equity stake, which valued the company at INR 10 crore. All of their products are crafted by hand and feature traditional Rabari embroidery. Customers can purchase these items directly from their website.

Click here to visit their official website: Pabiben

Pabiben’s enterprise operates three key initiatives: the first focuses on selling Rabari embroidery, the second is the Kaarigar Clinic, which assists artists worldwide in launching their businesses, and the last is Kaarigar Ki Dukaan, providing a platform for artists to sell their creations. The flagship model of their company, called Eye Catching, can be found at Pabiben.com.

The pricing for their bags varies, with machine-made bags priced at ₹1,790 and handmade bags at ₹6,900. The company offers around 500 different products and has generated ₹2 Crores in revenue over five years. Their revenue figures include ₹33 lakhs in FY19-20, followed by ₹28 lakhs and ₹36 lakhs in subsequent years. They maintain a profit margin of 50% and a net profit of 30%.

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Pabiben Rabari and Nilesh Priyadarshi, along with another co-founder, Nupur Kumari, established the company Pabiben. They are based in Ahmedabad. Nilesh has prior experience working in Kutch for a decade, where he played a vital role in setting up the business and handling marketing efforts. Nupur Kumari contributes by focusing on the design aspects. The ownership of the company is equally divided among the three co-founders.

Peyush felt that the company should not seek any investment, so he decided to exit the deal. Following him, Aman also stepped away from the negotiations. Vineeta expressed her opinion that it was too early for an investment, leading her to exit as well. Anupam shared this viewpoint and also chose to leave the deal.

However, Namita was interested in supporting Pabiben, so she offered ₹5 lakh for a 2% stake, with the remainder offered as an interest-free loan. After taking a moment to consider this, the company returned with a counteroffer of ₹10 lakh for a 5% stake, with the rest as debt. Namita agreed to this proposal, and they sealed the deal with a handshake.

Our investigation into the company found that their agreement with Namita from Shark Tank India was finalized after the episode was broadcasted. Following the show’s airing, Pabiben gained significant recognition and even had the chance to appear on KBC, where they met Amitabh Bachchan. They continue to run their Karigar Clinic initiative, although their Karigar Ki Dukaan still lacks an online presence. As of May 2024, Pabiben is doing well and remains in operation, boasting over 50,000 followers on Instagram.