How this Mother-Daughter Duo Aims to Empower Indian Artisans with the Help of Sharks
How this Mother-Daughter Duo Aims to Empower Indian Artisans with the Help of Sharks

House of Chikankari was founded by the mother-daughter duo Poonam and Aakriti Rawal in 2020 with the aim to create a deeper impact on India's craftsmen. The brand ensures that the talent and expertise of the country's artisans, its heritage, and its craftsmanship are accepted by all. 

The brand recently made an appearance on Shark Tank India Season 2, wherein Co-Founder Aakriti Rawal said, “Most of the chikankari industry is unorganized which does not allow customers to get quality assurance and authenticity of handworks which thus encouraged us to come up with ‘House of Chikankari’.”

House of Chikankari is an e-commerce brand that offers authentic chikankari in a modern style and delivers it to numerous parts of the world. In 2 years of its journey, the brand has provided employment to over 5,000 women artisans serving over 15,000+ customers. The brand has over time witnessed over 5X growth.

“Our vision is to make Chikankari relevant for the modern audience while maintaining the authenticity of the craft,” said Rawal. 

In FY20-21 the brand generated sales revenue of Rs 33 lakhs, in FY22-23 the brand jumped to Rs 3.3 crore, and in FY22-23 (till now) the brand has generated over Rs 7.4 crore, thus aims to touch Rs 15 crore by the end of FY22-23. Moreover, the brand has a net margin of 15 percent on its products and aims to make a 17 percent net profit on the projected revenue for FY22-23. 

The co-founders asked for Rs 75 lakhs for 1 percent of its equity which valued the brand at Rs 75 crore. While Namita Thapar, Executive Director, Emcure Pharmaceuticals decided to not invest in the business, Aman Gupta, Co-founder, and CMO, boAt offered Rs 75 lakh for 5 percent equity which valued the company at Rs 15 crore.

On the other hand Anupam Mittal, Founder and CEO, People Group, and Vineeta Singh, Co-Founder SUGAR offered Rs 75 lakh for 6 percent equity together, this offer valued the brand at Rs 12.5 crore and Peyush Bansal, CEO, Lenskart provided the same offer as Gupta.

The co-founders decided to take up Gupta and Bansal’s joint offer of Rs 75 lakh for 3.75 percent equity which valued the company at Rs 20 crore. 
 

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