Chinu Kala is from Bangalore, the green city.
Chinu is forced to leave her home due to a variety of circumstances. She strained to make ends meet. When she started working in customer service at Tata Indicom in 2002, she met Amit.
ABOUT THE COMPANY RUBANS
Life is amazing and lovely. But, the owner felt burdened as she left home with barely 300 rupees in her possession. Her life was shrouded in obscurity. Eventually she understood that a tiny piece of jewellery may completely transform a person’s appearance. The jewellery market was quite crowded at the time. On one extreme, there was high-quality jewellery, and on the other, there was low-cost copycat jewellery. So she went in search of Rubans to address the situation. Rubans is now India’s fastest-growing jewellery brand. They began in 2014 and have served over 25 lakh consumers. Their items are created in India. Their centres are mostly located in tiny villages in Kolkata, Mumbai, and Delhi, with the greatest concentration in Rajasthan. They have 80% of their own design and 20% that has been selected. Their repeat customer rate is 30%. They are self-sufficient. 40% of Myntra buyers look for their brand name. They have 3800 searches and 15000 orders each month on average. Their items have a rating of 4.5-4.8 on average.
Chinu and her mother own 81% of the company and 19% of the Myntra accelerator programme.
SHARK TANK
The owners request 1.5 million for a 0.5% stake in the firm. Lifetime sales are estimated to be approximately 200 crore. In fiscal year 20-21, sales were 29.7 crore rupees, while in fiscal year 21-22, sales were 51 crore rupees. Their estimated sales for the end of this year are 65 crore. EBITDA is expected to be 15%. Myntra accounts for 75% of its revenue, with the remaining 25% coming from their website and marketplaces. Its average selling price is 800 rupees, and their gross margin is 70%.
Namita and Vineeta offer 1 crore for 1% ownership and 50 lakhs at 12% interest. Anupam offers 1.5 crore in exchange for 1.5% equity.
The owner requested that the offer for Namita, Vineeta, and Aman to pay off the debt be revised.
The agreement was concluded with Amit, Namita, and Vineeta’s dream team for 1 crore rupees for 1% equity and 50 lakhs loan at 12% interest.
