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Sarees Business in India (Case Study)
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Entrepreneur Name – Manish Atri & Slony Gambhir
About the Entrepreneur – Manish Atri and Slony Baldev Gambhir are the co-founders of the company. Slony, who was born and raised in Yeola, has an MBA degree and worked as an engineer for 12 years.
Her family has a fabric business and she has valuable connections for the venture. Manish and Slony first met in 2003 while pursuing their MBA, and later got married in 2008. Their aim is to engage in import-export activities.
LinkedIn Profiles
| Manish Atri | https://www.linkedin.com/in/manish-atri-76362213/ |
| Slony Gambhir | https://www.linkedin.com/in/slony-gambhir-a334977/ |
| Brand Name– | Very Much Indian |
| Brand Website- | https://www.verymuchindian.com/ |
| Business Category– | Sarees |
| Company Valuation– | ₹3.57 Crores |
| Equity Asked– | ₹50 Lakhs for 3% Equity |
| Deal Closed– | Yes |
| Final Shark Tank Deal– | ₹50 Lakhs for 14% Equity |
| Target City/Country- | India |
| Total Addressable Market- | 400 billion rupees in 2022 |
| Product/Services– | Paithani Sarees |
About the Product – The founders presented the tale of Paithani sarees, a regal silk and an integral part of India’s legacy. They emphasized that despite its emotional significance in India, many people remain oblivious to its existence.
Their aim is to preserve this ancient weaving tradition and bring it to the forefront. The brand specializes in delivering genuine handloom sarees, traditionally woven by skilled weavers, directly to customers.
In addition to Paithani sarees, they have also revived several other weaves, including ilkal, khadi, tussars, among others.
Conclusion –
Manish Atri & Slony Gambhir asked for ₹50 Lakhs for 3% Equity A 10% equity offer at a valuation of ₹5 crores was made by Namita, which was later joined by Aman.
However, Piyush, Anupam, and Veenita withdrew from the deal. In response, the founders made a counteroffer of 10% equity at a valuation of ₹7.5 crores for a sum of ₹75 lakhs.
The final deal closed with Namitha and Aman at ₹50 lacs 14% equity of the company.
