Very Much Indian Raises Rs.50Lakh from Shark Tank India S2 E2

Very Much Indian is an India-based saree brand known for its high-quality, handmade sarees, founded by Slony Gambhir. The brand offers a great selection of sarees in a variety of designs, at affordable prices.

It is associated with over 400 weavers communities all over India and provides sarees of all types, including silk, cotton, polyester, with zari, without zari, mill made and more.

Not only that, but you can find sarees at all price ranges, from the cheapest to the most expensive.

Plus, this company connects directly with weavers from all over India to bring you authentic sarees like Pure Silks, Cotton, Cotton Silks, Linen, Paithani, Banarasi, Kota, Kalamkari, Maheshwari and more.

Very Much Indian: Details

About the Founder of Very Much Indian: Slony Gambhir

At the age of 14, Slony Gambhir began helping her family business, a textile store, managing clients and handling accounts. After completing her BTech and MBA studies, she spent 10 years in the corporate world.

In 2016, she decided to start her own saree business, Very Much Indian, taking a loan of 25 sarees from her father and with the support of her husband.

Later, she and her husband pitched their business to the Sharks on Shark Tank India Season 2 Episode 2, asking for ₹50 Lakhs in exchange for 3% equity at a ₹16.67 Crores Valuation.

Very Much Indian Shark Tank Pitch and Story

Slony and her husband went on Shark Tank India and asked the Sharks for ₹50 lakhs in exchange for 3% equity. Slony talked about her business and how it works, as well as its sales. At the start, Slony had a hard time and used to go door–to–door selling sarees.

Namita Thapar was interested and said she would invest in the business.

In 2018–19 the annual sales were ₹17 lakhs, and in 2019–20 they rose to ₹20 lakhs. During the pandemic of 2020–21, their annual sales skyrocketed by 225% to ₹65 lakhs. By the financial year 2021–22, the annual sales had reached ₹1.5 crores.

Namita and her team estimated that by the end of 2023, they would have an annual sale of ₹2 crores, with each saree being sold at ₹10,000 and a gross margin of 35%, resulting in a profit of around 15%.

To make a deal, Namita offered ₹50 lakhs for 10% equity at a ₹5 Crores valuation, as the business was selling 100+ sarees every month.

However, Peyush Bansal said since Namita already made a good offer, so he was out. Vineeta Singh also agreed that Namita‘s offer was good, so she was out too.

Anupam Mittal wasn‘t interested in the textile business, so he was out too as well.

Aman Gupta and Namita teaming up, offered 50 lakhs for 10% equity.

The entrepreneur countered with ₹75 lakhs for 10% equity at a 7.5 Crores valuation, but Namita stayed firm on the ₹5 Crore valuation, and Manish and Slony agreed to it.

Final Offer: 50 Lakh, at 5Crore valuation, for 10% Equity (5% each – Namita Thappar and Aman Gupta)

FAQ

Who is the founder of Very Much Indian?

Slony Gambhir.

Where is Very Much Indian head quartered?