Shararat
Introduction
Avinash and Shanky presented Shararat, emphasizing their personal journey and motivation to enhance the romantic experiences of couples. They identified a gap in the market for bedroom fashion, aimed at adding excitement and variety to couples' intimate moments.
Business Proposal
Shararat proposes a unique concept of bedroom fashion, offering a wide assortment of intimate wear, including babydoll dresses, teddies, role-play costumes, gowns, and loungewear. Their goal is to encourage couples to invest as much in their bedroom dates as they do in outdoor ones, thereby keeping the romance alive.
Marketing and Business Strategy
The brand targets millennials aged 25-45 from middle and upper-middle-class segments, positioning itself as a premium but accessible option. Shararat leverages both online platforms and recently launched offline counters to reach its audience, emphasizing quality materials and a variety of sizes to cater to diverse customer needs.
Investment Request
The founders sought investment to scale their operations, build their team, and expand marketing efforts. They previously raised funds at a valuation of 10 Crore INR, with a recent convertible note round at a cap of 25 Crore INR, aiming for further expansion.
Outcome
The pitch did not result in immediate investment from the sharks, who expressed concerns over the brand's positioning, scalability, and the commoditized nature of the broader lingerie and nightwear market.
Key Takeaways
Shararat's focus on enhancing bedroom intimacy is innovative, but its challenge lies in distinguishing itself in a crowded market and articulating a clear unique value proposition to both customers and potential investors.
Challenges
Scaling in a niche yet commoditized market, building a brand that resonates across diverse linguistic and cultural backgrounds within India, and increasing customer repeat rate were identified as significant challenges.
Conclusion
Shararat's concept of bringing excitement back into couples' intimate lives is compelling. However, to secure investment and scale, the founders must refine their market positioning, address scalability concerns, and focus on building a strong brand identity that transcends regional diversities.
Summary
| Key | Details |
|---|---|
| Website | https://shararat.in/ |
| Valuation | 30 Crores INR based on original ask |
| Turnover | 3.3 Crore INR (FY22-23) |
| Profits | Loss of around 50 Lakh INR (FY22-23) |
| Number of Sales/Customers | 2 lakh+ customers served |
| Target Sector | Bedroom Fashion (Intimate and Nightwear for Couples) |
| Other Facts | Available in four sizes, wide color variety |
| Original Ask | 60 lakhs INR for 2% equity |
| Deal | No deal was made during the pitch |