Angrakhaa, a retail clothing brand founded by Vishakha Bhaskkar and Asana Riamei has been operational since 2018. The brand offers women's apparel in all sizes and specializes in providing a breathable collection that not only is relaxing but sets a benchmark for quality and trend.
Angrakhaa has served more than 10,000+ orders and will be entering the Indian wedding market for both men and women and aims to become a global brand in the size-inclusive category.
The brand’s co-founders recently made an appearance on Shark Tank India Season 2 wherein they asked the sharks for Rs 40 lakh for 5 percent equity which makes the valuation of the company at Rs 8 crore.
The brand had a sales revenue of Rs 14 lakh in FY19-20, Rs 7 lakh in FY20-21, and had jumped to Rs 1.16 crore in FY21-22, all the sales being specifically from its own D2C website.
All sharks namely Anupam Mittal, Founder, and CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.com were impressed by the growth of the brand.
Bansal chose to opt out of the deal, similarly, Namita and Aman also opt out, finding the brand strategy to be confusing. Anupam points out the lack of a unique selling proposition while opting out.
However, Amit offers Angrakhaa a deal promising his expertise in digital marketing to aid their sales and offers Rs 40 lakh for 20 percent equity valuing the company at Rs 2 crore.
The co-founders countered for Rs 40 lakh for 15 percent equity which leads to the sharks mentioning how the business needs to be made investible and would require work and effort.
The brand co-founders shook on the deal taking the offer of Rs 40 lakh for 20 percent equity and thus valuing the company at Rs 2 crore.