Shark Tank India 4 : The daughter along with her parents built a business worth crores in just 2 years.
Shark Tank India 4 : Different types of startups come to Shark Tank India to get funding. In the recent episode of the fourth season, a startup came on the show with its two brands. This startup is from Gurugram, which was started in 2022.This has been started by Asima Batra along with her father Vinod Batra and mother Sonia Batra.
Loss of around Rs 70 lakh in first business
Asima’s first brand is Dorabi and the second brand is Aamily. Even before this, Asima has done a business with her father, which was named Niraya. That brand was started in 2020, which sank in about 2 years. Asima’s father suffered a huge loss of about Rs 70 lakh in it.
How did the Niraya brand sink?
Asima says that in 2020, some brand architects approached and said that you guys should make your own brand, there is a lot of demand in the market. They showed dreams of making a brand, listing the product everywhere and earning a lot from it. In all this, they also took fees and commission. Asima says that that business did not work, the return rate in it had reached 50 percent, it sank in no time. However, Asima learned a lot from the sinking of that brand.
After the Niraya brand sank, Asima gave herself about 6 months to think about where she went wrong. Then she decided that she would create her own brand. Now she gives all the material including the design to her father and he makes the product in his factory and gives it to Asima. Asima says that the clothes of her fashion brand can be worn anytime and anywhere.
Read Also : How to pay bill from One Credit Card to Another?
Second Business Dorabi started in 2022
Learning from her first failed business, Asima started a new business in 2022. This business is of fashion, which gives employment to artisans and high quality products to the customers. The clothes of this startup are size inclusive and the biggest reason for good quality is that the company has its own manufacturing unit. This unit is run by Asima’s father, who has about 24 years of business experience.
Who is the shareholder?
Asima owns 50 percent equity in this startup, while her parents own 25-25 percent equity. This startup earned Rs 36 lakh in 2022-23. At the same time, in the next year i.e. 2023-24, the company’s sales increased to Rs 3.45 crore. In the first half of this year, the company has sold about Rs 2.35 crore and sales of Rs 5.5 crore are expected in the entire year. The company is also earning an EBITDA of about 13 percent.
Read Also : How to earn free jio coins from jioshpare?
Where is all the business coming from?
This entire business is being done through its own website. At the time of coming to Shark Tank, the company was not on any market place. Asima said that she will soon list her products on some premium market place. Currently, the average selling price of the company is Rs 4000 for the Dorabi brand, while for Aamily it is Rs 3200. The company has 4 stores in India, while one store is also in Dubai.
Finally got 1 crore funding
The founders asked for a funding of Rs 75 lakh in exchange for 3% equity of their startup. Kunal and Namita opted out of the deal, but Ritesh, Aman and Anupam made an offer. Anupam offered Rs 75 lakh in exchange for 5% equity. Ritesh offered Rs 40 lakh in exchange for 2% equity and Rs 35 lakh as a loan at an interest rate of 9% for 3 years. Aman offered Rs 75 lakh in exchange for 3%. In the end, Aman and Anupam together gave a funding of Rs 1 crore in exchange for 4% equity.
About The Author
