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Artificial Jewellery Business In India(Case Study)
Their jewellery is made using premium-quality materials that ensure durability and longevity. Their attention to detail is reflected in the intricate designs and the use of high-quality stones and embellishments that make their jewellery pieces stand out.
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Entrepreneur Name – Amit Kala and Chinu Kala
About the Entrepreneur – Amit Kala and Chinu Kala are both residents of garden city Bangalore.
However, Chinu had to leave her home due to several issues and subsequently faced challenges in making a livelihood. In 2002, she began working in customer care at Tata Indicom, where she met Amit.
Prior to this, Amit had gained 11 years of experience working in distribution for ESPN and Star Sports.
From 2011 to 2020, he worked for Viacom 18 before joining Chinu’s business full-time.
LinkedIn Profiles
| Amit Kala | https://www.linkedin.com/in/amit-kala-7b78b8105/ |
| Chinu Kala | https://www.linkedin.com/in/chinukala/ |
| Brand Name– | Rubans |
| Brand Website- | https://www.rubans.in/ |
| Business Category– | Fashion Jewellery |
| Company Valuation– | ₹100 Crores |
| Equity Asked– | ₹1.5 cr for 0.5% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹1 cr for 1% Equity & ₹50 Lakhs Debt |
| Target City/Country- | India |
| Total Addressable Market- | $2,126.3 million by 2027 |
| Product/Services– | Online Fashion Jewellery |
About the Product – Rubans is a fashion jewellery brand that stands out for its high quality, innovative designs, and trend-setting products.
Since its inception in 2014, Rubans has rapidly grown to become India’s fastest-growing jewellery brand, serving over 25 lakhs customers.
The brand prides itself on producing Indian-made products and has expanded its hubs to include small villages in Kolkata, Mumbai, Delhi, and Rajasthan.
Rubans boasts a unique design philosophy, with 80% of their designs being original and 20% curated. They have a respectable repeat rate of 30% and are self-funded.
Their brand name is popular among Myntra customers, with 40% of all searches on Myntra featuring the Rubans brand name.
On average, Rubans receives 3800 searches and 15000 orders per month, and their products have an impressive rating of 4.5-4.8.
Chinu and her mother currently hold 81% equity in the company, with the remaining 19% owned by the Myntra accelerator program.
Conclusion –
Amit Kala and Chinu Kala initially requested a valuation of 1.5 crores in exchange for 0.5% equity.
However, Shark Namita and Vineeta presented a joint offer of 1 crore rupees for 1% equity along with an additional 50 lakhs at a 12% interest rate. Anupam offered 1.5 crores in exchange for 1.5% equity.
The owners requested Namita, Vineeta, and Aman to revise their offer by removing the debt component.
In the end, the deal was closed with a dream team consisting of Amit, Namita, and Vineeta, who provided 1 crore rupees in exchange for 1% equity and 50 lakhs in debt at a 12% interest rate.
Rubans Shark Tank India Review