“Aapka Segment Chhota Hai” – Ritesh to Ana Apparels on Shark Tank India Season 5
Three points you will get to know in this article:
1. Ana Apparels demonstrated strong scalability, growing from Rs 39 Lakhs in FY 22-23 to Rs 2 Crores in FY 24-25, with a projected Rs 4 Crores for FY 25-26.
2. Founders Asma and Zeeshan sought Rs 80 Lakhs for 4% equity at a Rs 20 Crore valuation, highlighting their design-led D2C model and 20% EBITDA.
3. The brand exited without a deal as Sharks cited concerns over a lack of product differentiation, easily copied designs, and a niche market.
Ana Apparels Shines on Shark Tank India Season 5
When Ana Apparels, a modest fashion firm known for abayas, niqabs, and dupattas, entered the spotlight on Shark Tank India’s Season 5, Episode 33, it brought style, innovation, and purpose to the tank. The entrepreneurs presented their carefully chosen collection and business plan to the Sharks with the goal of revolutionizing modest fashion in India.
About Ana Apparels

Abayas, niqabs, dupattas, and other wardrobe staples that combine style and comfort are among the modestwear items that Ana Apparels specializes in. Its products are carefully crafted to satisfy women looking for clothing for special occasions and daily wear that combines style and cultural expression. With a growing online following and a devoted clientele displayed on social media and through direct sales channels, the business places a strong emphasis on customization and high-quality textiles.
Although the episode’s particular pitch details, such as the exact ask and equity offered, were not yet made public, Ana Apparels was included in Shark Tank India Season 5 Episode 33 along with other firms with a clear mission.
Official Website – Ana Apparels
Product & Innovation

Products by Ana Apparels are notable for their unique fusion of utility and modest design aesthetics:
Abayas & Niqabs: Designed for everyday wear and special occasions, balancing comfort with timeless style.
Dupattas & Accessories: Versatile pieces that elevate traditional outfits while adhering to contemporary tastes.
Customisation Focus: The brand emphasises personalisation, allowing customers to tailor designs for fit, fabric, and style preferences.
Ana Apparels is positioned in India’s expanding modestwear and fashion market because to its blend of cultural relevance and high-quality products.
Financials of Ana Apparels
Equity Split:
Zeeshan – 49%
Asma – 51%
Peak Season – December-March
Unit Economics:
COGS – 26%
Marketing – 35%
OpEx – 10%
Logistics – 6%
Fees – 3%
EBITDA – 20%
Net Sales:
FY 22-23 – Rs 39 Lakhs
FY 23-24 – Rs 88 Lakhs
FY 24-25 – Rs 2 Crores
FY 25-26 Projected – Rs 4 Crores
- FY 22-23
- FY 23-24
- FY 24-25
- FY 25-26 Projected
The Shark Tank Pitch of Ana Apparels

The pitch started with founder Asma Nafis introducing herself and her company, Ana Apparels, and outlining the significance of the name “ANA,” which is based on women’s dignity, self-respect, and confidence, as well as how it influenced the brand’s identity. She said how the inspiration came from her own experience with modest fashion and the need she perceived in the Indian market for high-quality niqabs, abayas, and modest clothing that blended style, comfort, and cultural significance.
In India, a lot of options for modest clothing are either imported with little cultural flair or are generic or of poor quality. They maintained that although the market was underdeveloped, modern Indian modest dress buyers desired well-made, customized items that reflected their individual styles and ethnic identities.
They supported this with market context, highlighting how digital networks and social media engagement, which their company had already tapped into through platforms like Instagram, were driving the growing demand for modest fashion both internationally and in India.
Once the product was laid out, the founders explained their business model:
Direct-to-Consumer (D2C): Primarily sold through their online store and social commerce channels.
Organic Growth: Strong community engagement on social platforms — especially Instagram — boosting recognition and repeat purchases.
Design-led Differentiation: Unlike fast fashion or generic imports, Ana’s emphasis on design authenticity and cultural relevance helped them carve out a niche.
They shared high-level traction indicators such as online mentions, follower growth, and customer testimonials, illustrating early community validation.
The Ask
The founders asked for Rs 80 Lakhs for 4% Equity at the valuation of Rs 20 Crores.
The emotional relevance of Ana Apparels’ pitch was one of its defining features; the founders talked about cultural pride, women’s empowerment through fashion choices, and their intention to create a brand that speaks to individual identities in addition to sales. This story helps present the brand as a movement as much as a company.
Sharks Reactions
Shark Aman pointed out that the brand designs lack differentiation, can be easily copied, thus he backed out.
Shark Namita said that the business is too early to invest, advised the founders to scale more and then look for investment. She opted out.
Shark Ritesh showed concerns about the category in which the brand is competing, the market is smaller. He advised the founders to streamline their business segment. He also backed out.
Shark Vineeta doubted the financial numbers and where the investment money will go in initial stages, she also didn’t offer anything.
Shark Kunal admired the efforts of Asma in building a growing and a profitable business but did not offer any deal.
Ana Apparels did not get any offers in Shark Tank India and had to exited the Tank empty handed.
What’s next for Ana Apparels?
Following their appearance on Shark Tank India, Ana Apparels is focused on achieving its projected Rs 4 Crores in sales for FY 25-26 by leveraging its strong 20% EBITDA and D2C strategy. The brand aims to dominate the modestwear niche through continued social media engagement and high-quality, customized offerings.
To address the Sharks’ concerns, the founders plan to further differentiate their designs and streamline business segments for better scalability. By maintaining their commitment to cultural pride and premium quality, Ana Apparels continues its mission to revolutionize the Indian modest fashion market.
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