Gulabo Jaipur Update | Shark Tank India Season 03
Gulabo Jaipur founders Salman Malawat and Saloni Panwar pitched in Shark Tank India S03E24, seeking ₹90 lakh for 1% equity.
Gulabo Jaipur is a brand inspired by Jaipur’s local clothing style. The company has a wide range of traditional and contemporary ethnic wear options, including sarees, lehengas, anarkalis, suit sets, shararas and more
Gulabo Jaipur presentation was attractive but they failed to secure a deal in the show. If you’re interested to know what happened after the show, read our Gulabo Jaipur update.
| Company Name | Gulabo Jaipur |
|---|---|
| Founders | Salman Malawat, Saloni Panwar |
| Founded | 2014 |
| Product | Clothing |
| Ask | ₹90 lakh for 1% equity |
| Deal | No deal |
| Sharks | No shark |
Gulabo Jaipur Update Shark Tank India
Salman Malawat and Saloni Panwar entered on Shark Tank India with an ask of ₹90 lakh for 1% stake in Gulabo Jaipur. Unfortunately, no sharks found this business investible and founders left the show without any deal.
Although, Gulabo Jaipur couldn’t secure a deal in Shark Tank, but this show gave immense exposure among the audience. After the show, this brand was featured in various news portals and business magazine.
The company saw huge boost in sale after airing of this episode on Sony TV. As of March 2024, Gulabo Jaipur is operational and doing great business. Our team follows all the founders that appear on the Shark Tank. Very soon, we’ll come up with a fresh Gulabo Jaipur update.
Check more clothing brands updates appeared in Shark Tank India Season 03:
What is Gulabo Jaipur?
Gulabo Jaipur is a premium clothing brand inspired by Jaipur’s Karigaari. Salman Malawat and Saloni Panwar established this clothing brand in 2014.
Their famous and selling products include Anarkalis, Lehengas, Co-Ord sets, and Kurta Sets. They also have other common ware in their inventory.
Gulabo Jaipur’s design is handled by its co-founder herself. They get most of their sales from their own website, flagship stores, and other marketplaces.
The founder’s vision is to make Gulabo Jaipur a top brand in India and also to promote Jaipur’s Karigari worldwide.
Gulabo Jaipur Shark Tank India Pitch Recap
The founders started their pitch with an ask of ₹90 lakhs for 1% equity at a company valuation of about ₹90 crores.
The sharks then had a brief look at the brand’s clothing. They brought Dori and Sequins, Gota Patti and Muslin with Computer Embroidery designs to the show.
Namita: Many times, there are stereotypes for women business leaders that they dress down and can’t look glamourous. Because people may not take them seriously, but, I liked your style.
Namita then asked whether they specialize only in Jaipur’s Karigari styles or if they have some design diversification as well.
Founder: The block prints are the USP of my brand. Also, it is our top-selling product. I also want to design more, so I have also started bridal and festive designs.
Anupam: But, your brand’s name is Gulabo Jaipur, so people will expect to see Jaipur’s uniqueness in your products. But I didn’t see that.
Vineeta agreed and said that the brand’s other clothing, like the Velvet Kafta, doesn’t look like it’s from Jaipur. It is probably from Kashmir.
Anupam: Do you guys even have any specialization?
Founder: I love overdressing, and I mostly design timeless dresses. I started this business because I love to dress so much.
Anupam: You didn’t answer my question. But I think what you are trying to say is that you have a distinct fashion interest. I like that.
Then Anupam asked whether their products are only Indianware and if they design only occasional ware or everyday ware.
Founder: I started with everyday wear. But, now I do festive also and the bride also. However, our standard ware is still the best selling. It has a touch of luxury I feel.
The discussion then headed towards the pricing of Gulabo Jaipur’s clothing.
Founder: We have found that the price segment between ₹4000 and ₹7000 provides a balance. We can reach the masses and also cater to a niche audience in that price range.
Namita: Okay, so what is your costliest product?
The founder explained that the white bride lehange is their costliest product, and it costs around ₹90,000.
Ritesh: Do you guys do the block prints manually, or are their machines?
Founder: We have an in-house production where we make the designs and do stitching. Meanwhile, the dying, handwork, and machine work are outsourced.
The founder then revealed that they are going to do business of about ₹8 crore this year with a profit of 15%.
Anupam: So, you are already going to make 1 Cr profit. Then, why are you guys here looking for a ₹90 lakhs investment? It will add no value. Are you looking for something else here?
Founder: Yes, we need your expertise to grow. We are looking for mentors who can guide us in scaling our inventory and sales.
Aman then said that big players are acquiring many smaller brands in this category. At what valuation are they acquiring them?
Founder: Yes, they are acquiring only those brands that have already scaled a lot. But I don’t know the exact valuation.
Aman: You should be aware of what’s happening in the market, especially in your domain.
Vineeta then said that fashion brands are usually valued at 2-3 times their total sales.
Aman then went out of the deal. He was unimpressed with the founder’s lack of information on their domain. He also felt that the Valuation of Gulabo Jaipur was extremely unreasonable.
Vineeta: Even I will be out of this deal. I can see a lot of contradictions in your business. This is not investable. Your clothes lack a standard Jaipur vibe even though you are named Gulabo Jaipur.
Namita also went out of the deal as she couldn’t find any USP in their products. They are not ready for outside investments.
Ritesh and Anupam also had the same concerns, which is why they went out. Gulabo Jaipur didn’t get any investment in Shark Tank India Season 03.
Final Words
We have seen a lot of profitable brands in Shark Tank India whose sole purpose is to somehow get a Shark on board for mentorship. Some of the brands even succeeded if the Sharks found the founder’s vision appealing enough. But Gulabo Jaipur failed to do that and returned empty.
