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The fashion industry in India has seen the emergence of several successful startups over the past decade, thanks to the country’s thriving startup ecosystem. It seems like every new idea is a startup, many of them achieving success with consumer traction. The famous show Shark Tank India and its season 1 and 2 Illustrate the growing trend toward this trend.
In Phase 1 and 2, the investments totaled Rs. 42 crore and Rs 81.17 crore respectively, and 285 startups were boarded across categories including fashion and apparel based on 1 lakh+ applications (for both seasons combined). Through this platform, more than 16 fashion and lifestyle startups have been able to reach a wider audience, build brand recognition and consumers, regardless of funding.
Shark Tank India is a platform that provides opportunities to new entrepreneurs. They were season 1 investors. Aman Gupta (Co-Founder and CMO of Headphone Audio Yacht); Anupam Mittal (founder of shaadi.com); Ashner Grover (Founder Crip); (Co-Founder Mamaearth); Namitha Thapar (Director, Imcure Pharmaceuticals); Peyush Bansal (Founder, Lenscart); Vineta Singh (Founder, Sugar Cosmetics) And Season 2 investors included all the above names together. Amit Jain (Co-Founder CarDekho) Ashner replaces Grover but suspension Ghazal Alag .
It is one startup that has benefited significantly from the event. BummerAn Ahmedabad-based no-nonsense underwear brand that has received funding of Rs. 75 thousand. The founder, Sulei Lavsi, in a speech Apparel Resources (AR) Group mentions “Indian consumers have been pouring love for our products even before Shark Tank happened but definitely a 15 minute prime time slot reaching over 2 crore + viewers at no cost helped us market.
Funding makes growth easier for startups
With enough funding, startups invest in hiring talented employees, developing new products, and expanding into new markets. Growth is largely fueled by the leadership of investors and their relationships. These factors have fueled the interest of various startups to participate in the Shark Tank India show.
for instance, The Yarn BazaarOne of the successful startups founded by Prateek Gadiya received a funding of one crore on the show. It is based in Mumbai B2B thread marketplace It is an innovative platform that allows buyers and sellers to analyze real-time yarn prices. The forum addresses a significant issue faced by sellers struggling to find the best price.
Similarly, Note the sleeve Founded by Ria Cather, it offers a unique concept with 45.7K Instagram followers Detachable handlesIt has become popular with Gen Z and Millennials. The brand has received funding of Rs.25 lakh and will be recycling the dresses to make them more unique and different. With the current investment, Ria plans to venture into new product development and influencer marketing.
Another D2C popular brand Snitch It is the first exclusive men’s fashion brand to achieve an annual recurring revenue of Rs 100 crore with bootstrapping and funding of Rs 1.5 crore within two years. The products developed by Snitch are of high quality, including fragrances for men, t-shirts, underwear, jeans, sweaters, underwear and overalls etc.
“I saw that there was a gap in the market when it came to menswear brands, and I could see that the market was huge. I was sure to go for the segment and then I decided to switch from B2B to D2C segment and we did 100 crores in annual recurring revenue. Siddharth Dungarwala, CEO and founder.
Also, Punnet Sehgal and Shaan Shah’s Freakins He got 50 thousand birr in money. Freakins is a denim fast fashion brand that offers 35+ categories and 1500 styles to fit women’s sizes. The secured investment will be used for product development and vertical recruitment.
Not only Western but also Indo-Western and ethnic clothing start-ups boast of large scale products and high demand. Angrakha, Carrying an investment of Rs.40 lakh, it is a brand owned by Vishaka Bhaskar and Asana Ryamey that caters to the Indo-Western segment. Product sizes range from L to 6XL, and the brand has received 10,000+ orders and 96.5k followers on Instagram, which shows the brand’s acceptance. Chikankari house It is gaining popularity with Poonam Rawal and Akriti Rawal presenting daily. Chikankari Kurtis Crafted from soft plush fabrics and beautiful embroidery.
As the Indian apparel and fashion market has evolved over the years, consumers are looking for a wide variety of products to meet their changing lifestyle needs. Although the western clothing market is equally competitive, I can see a good adaptation of ethnic clothing.” Akkarti Rawal added.
Also based on Sana Farhin Aurangabad Forever modest 20 lakhs to bring a unique product category that offers clothing options to modest fashion-conscious individuals. The brand focuses on creating comfortable and stylish clothing that conforms to religious and traditional dress codes, e.g. Hijab And Abayas.
Thanks to organic marketing, brands report growth despite financial support
Organic marketing works wonders for brands willing to put in the effort. Even without external funding, organic growth can be achieved through word of mouth, social media and other grassroots efforts. By focusing on building a loyal customer base, brands grow without having to rely on outside investors.
The streetwear retail segment has seen dynamic growth across the globe, hitting $185 billion in total sales, and India is no exception to this trend, with growing demand in major cities as well as tier-2 and tier-3 areas. Keeping up with this ever-increasing demand, several fashion brands have entered this market domain e.g City monkey Managed by Yash Gangwal. This brand offers trendy and accessible apparel items like tees, hats, wallets, jackets, hats and skateboards across 10+ categories and 500+ products and the India Shark Tank, It has grown 3X and is very popular. The brand’s stylish designs and affordable collection have attracted many young buyers since its inception. Similarly, based in Kolkata Gavin Paris Founded by Kishore Jairamka and Ashutosh Roy, it focuses on oversized and comfortable clothing inspired by hip-hop culture and skateboarding style and has recently seen an increase in sales from Rs.22 lakh to Rs.45 lakh within a month. Similarly, Flatheads D2C is a Bengaluru-based casual footwear brand that offers a wide range of semi-casual and casual footwear such as Banana Kicks, SoftKnit Loafers, Linen Sneakers, KoolTex Trainers, Bamboo Loafers, Breathable Sneakers and more. The brand has expanded its product line by partnering with the Sold Store clothing line. The customer response has been overwhelming as all products are exported. Recently, the brand booked 900 orders within 24 hours, showing its growing popularity. By the same PC loungewear brand, Midnight Angelspc, specializes in the production of sleepwear and airport apparel. Since its official debut, the brand has been attracting a lot of users, resulting in over 27,000 items sold.
Brands are doing well, post investments
Freakins Denim has been able to maintain consistent sales growth with an average of Rs.90,000 net sales every month. Angrakha’s sales have fluctuated, but it has seen a 27 per cent increase in customer base in FY21-22 and 35 per cent in FY22-23. Chikankari House has seen a huge increase in sales and is expected to reach Rs.15 million by the end of FY22-23, while Boomer is projected to grow 5x from Rs.80 lakh per month to reach US$1.5 million by the end. of the year. On the other hand, Snitch’s revenue has seen a significant growth in sales, which was reported at Rs.44 crore in 21-22 and projected sales of Rs.100 crore in 22-23. Generally, each business experiences different percentage levels of growth based on different success factors.
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