D’chica Update | Shark Tank India Season 03
Richa Kapila and Vani Chugh appeared on the Shark Tank show with an ask of ₹80 lakh for 1% equity in D’chica. D’chica is India’s fastest-growing teen brand, providing stylish and comfortable innerwear for Gen Z and Alpha customers. Will any of the Shark Tank judges invest in this brand? Find out everything in the D’chica update.
If you’re in a hurry and don’t have time to read what happened to D’chica in the Shark Tank, here’s a quick overview of the episode recap.
D’chica founders Richa and Vani appeared on Shark Tank with an ask of ₹80 lakh for 1% equity. Aman and Anupam decided to go out because they thought the founders were not open to taking advice.
However, Vineeta and Namita gave a combined offer of ₹80 lakh for 2% equity along with a royalty of 1% until ₹80 lakh is recovered. Both founders accepted this combined offer.
| Company Name | D’chica |
|---|---|
| Founders | Richa Kapila, Vani Chugh |
| Founded | 2020 |
| Products | Teens innerwear brand |
| Ask | ₹80 for 1% equity |
| Deal | ₹80 lakh for 2% equity + 1% royalty until ₹80 lakh recouped |
| Sharks | Namita Thapar, Vineeta Singh |
About D’chica Company
Richa Kapila and Vani Chugh started D’chica in 2020. It’s a teen innerwear brand that sells bras, panties, camisoles, and many more products for teenage girls and young women.
According to the founders, they started an unsuccessful kidswear brand in 2014. However, both learned lessons from that failure and started D’chica in 2020.
The brand’s majority of sales come from its online store and e-commerce platforms like Amazon, Myntra, FirstCry, Hopscotch, AJIO, Nykaa, etc. D’chica products are also available in various offline stores and the army canteen.
- Online: 60%
- Offline: 40%
In FY21-22, D’chica’s revenue was ₹6.6 crores; in FY22-23, their revenue grew to ₹10.3 crores. They are projecting a total revenue of ₹18 crores in FY23-24.
D’chica Shark Tank Pitch
Richa and Vani begin their pitch by discussing how growing up can be challenging for girls, with many changes happening.
They stressed how important it is for girls to feel good about themselves during this time and how the right kind of underwear can help.
So, they started D’chica to help girls find underwear that makes them feel confident and matches what they need and like.
After that, judges started asking about the founder’s background and business competitors.
Amit Jain asked, “Are you from a textile background because previously you started kidswear, then ladywear?”
Vani replied that I’m from a media background and completed my journalism course at Lady Shriram College, Delhi. Richa graduated from Pearl Academy and is now in the fashion business.
Amit then asked, “Do you manufacturers yourself work with contract manufacturing?”
Richa replied, “We have one in-house manufacturing setup and four on a contract basis.”
Next, judges wanted to know about market size and competitors.
Namita asked, “Who are your competitors?”
Vani said that Jockey is the biggest competitor as of now. Then, she presented their products in front of the judges.
All the judges liked the design and product quality. After that, Namita asked about equity splits.
Vani said the equity split is the same between Richa and me, i.e., 38.6% – 38.6%, and the remaining 22.8% is at investors.
Anupam asked about the previous fundraising, and Vani said we raised five crores in September 2022 at a pre-money valuation of ₹25 crores.
After a few minutes of further discussions, Aman and Anupam decided to stay out of this deal because they thought they couldn’t add any value to her business due to a lack of communication dynamics.
Amit also decided not to invest in her business because their numbers were not good.
Vineeta and Namita gave an offer of ₹80 lahks for 2.5% equity along with 1% royalty until ₹80 lahks is recouped.
Vani said that we raised ₹1.75 crores in March 2023 at a valuation of ₹40 crores, and it’ll be very difficult for us to go lower than this.
Namita revised her offer and lowered the equity ask to 2%. Now, Richa and Vani have an offer of ₹80 lakhs for 2% equity along with 1% royalty until ₹80 lakh is recovered.
Both founders happily accepted this deal and came out of the Shark Tank.
D’chica Shark Tank Update
Richa and Vani pitched in Shark Tank with an ask of ₹80 lahks for 1% equity in D’chica. Vineeta Singh and Namita Thapar gave a combined deal of ₹80 lakhs for 2% at a company valuation of ₹40 crores, along with 1% royalty until ₹80 lakh is recovered.
After the airing of the episode on SonyLiv, D’chica has seen a huge boost in sales because many popular news sites like Outlook India, Bhaskar Live, BNN Breaking, Business Insider, etc. covered her story.
As of now, D’chica has a backup of two experienced sharks (Namita and Vineeta), and we’re hoping that Richa and Vani will establish D’chica as a much bigger innerwear brand in India. Our team is in touch with D’chica founders, and we’ll get all the latest updates about the company.
More from Shark Tank India (Season 03):
Conclusion
D’chica founders Richa and Vani got a combined deal from two sharks, Vineeta and Namita. The brand gained immense popularity after the airing of Shark Tank Episode 22 on SonyLiv. As of February 2024, D’chica is doing well in business, and it has been featured in many popular business portals.
