BL Fabric on Shark Tank India Season 4 : Providing Lehenga Choli Collection
Three points you will get to know in this article:
- BL Fabrics sells premium embroidery lehenga choli at a price of 65% – 75% discount from the normal price that is available in the market
- The unique designs & low cost has already served over 65000 women’s in past 3 years
- Funding: ₹1 Crore for 4% Equity
About BL FABRIC
BL Fabric Provides best Quality Exclusive Lehenga Choli Collection through their website .This business was started by Mayur Bharat Bhai Gediya. He is from Surat, Gujarat. The founder shared that they specialize in three types of embroidery, sequence work, thread work & Zari work. BL Fabric sends semi stitched lehenga, unstitched choli & a readymade dupatta. Mayur also mentioned if the customer wants a stitched choli as per the design seen on the website then they will get it delivered for a 1000 Rs extra cost.
Shark Namita Thapar was quite impressed seeing the quality & the flair of the lehenga
You can check their Lehenga designs on : BL Fabric
The Evolution of BL Fabric
Mayur mentioned BL Stands for Bipolar life & he got this name from his brothers business which stated bipolar life. Before getting into BL Fabric . Mayur had started working with his brother in cloth & garment business only but he took it online. He later started BL Fabric in 2020. The company has served over 65,000 customers over the past 3 years. BL Fabric offers Premium quality embroidery work lehenga cholis . They follow the current design trends & make outfit accordingly. They also make customized lehengas as per the users requirement .Mayur had started solo but now has a team of 25 people who make over 200 quality designs.
BL Fabrics Founder played a game with Sharks
When Mayur appeared on shark tank he showcased a beautiful blue lehenga & asked the sharks to guess price & played a fun part that whoever guesses it right will get the lehenga for the same to which
- Kunal guessed – Rs 3000
- Vineeta said it would cost around – Rs 1800
- Ritesh – Rs 1500
- Namita – Rs 1400
- Aman – Rs 5000
Mayur mentioned that the blue embroidery lehenga costed around Rs 3799 & said the clear winner is Kunal.
Some facts about BL Fabrics
- BL fabric are selling some really beautiful embroidery sequenced lehengas at a price which is much lower than other brands. They are giving 65% – 75% discount from the normal price that is available in the market
- Mayur stated on shark tank India season 4 that he has over 30 lakh followers on their Instagram and YouTube & 8 lakh followers on insta individually.
- Mayur uploads videos on his YouTube channel where the entire process of making the lehenga is shown which is quite interesting for the users & gets 47 million views & so on some videos with no negative comments.
- Mayur himself is a trained tailor
- The founder sought an investment of ₹1 Crore in exchange of 2% equity in the company valuing his business at ₹50 Crores.
- The company launched 25 new designs every month.
- They also have 200-250 SKUs in stock at all times.
BL FABRIC’s Financials & Revenue
BL FABRIC was started in 2021. The company makes their entire revenue through their own website. The company made a revenue of ₹1 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 Pitch:
- Shark Namita Thapar said that she feels that it’s a keyman risk business as Mayur is doing it all solo so she didn’t find any interest in funding the business.
- Shark 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.
- Shark Aman was also interested in the deal but he mentioned that other sharks have already given a deal.
- 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 since then. He is a one man one man Social Media Wizard . Shark Kunal praised him saying that usually the founders of startups are expected & imagined to be graduates from big business schools with multiple degrees. But Mayur being a simple man who started solo have now reached heights. He has taken no training or big course certifications yet has taken BL Fabric to another level with profits in hand & high future goals.
Mayur is an inspiration for all the upcoming youth that logic & hard work can also bring you success in your business.
Talking about the challenges mayur said he currently faces no challenges in his business & looking forward to grow his business in all way possible
Future Goals of BL Fabric
Mayur stated that his long term goal is to become the most popular brand & he aims at taking the business to 100 crores in the next 2-3 years & 1000-2000 crores business in next 5-10 years
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