Shark Tank India Season 3, Episode 26 showcased a fascinating pitch from Fabriclore, a promising startup revolutionizing the fabric sourcing industry for fashion designers and brands. With their innovative platform and commitment to quality, Fabriclore made a strong impression on the Sharks. Here’s a breakdown of their appearance and why it resonated with the investors.
Founders were Vijay Sharma, Anupam D Arya and Sandeep Sharma.
Their ask from sharks was – 68.7 Lakhs for 1% Equity
Valuation – 68.7 crores.
Fabriclore was started in March 2016, their annual sales before pivot (it is a strategic change made by a company to adapt to new market conditions or opportunity) were:-
- 1.13 crores for year 2016-17
- 4.7 crores for year 2017-18
- 5.3 crores for year 2018-19
- 6.7 crores for year 2019-20
- 10 crores for year 2020-2021
In Fabriclore, they offer:
- Variety Of Fabrics
- Printing and Dyeing
- Low Minimum Order Quantity
- Competitive Pricing
They have collaborated with 200+ vendors and they have around 250 customers. They acquired 300 customers from B2b in Feb’23 to Oct’23. 109 out of 300 customers purchase from them every 2 months.
The Fabriclore Vision
Fabriclore’s founders stepped into the tank with a clear mission: to streamline the complex and often frustrating process of fabric sourcing. They highlighted the following pain points faced by fashion designers:
- Limited access to high-quality fabrics: Many designers, especially those in smaller cities or starting their businesses, struggle to find a wide selection of premium fabrics.
- Lack of transparency: The traditional fabric supply chain can be opaque, making it difficult to verify the origin, quality, and ethical sourcing of materials.
- Time-consuming and costly process: Sourcing fabrics often involves multiple intermediaries, travel, and lengthy negotiations, draining valuable time and resources.
The Fabriclore Solution
Fabriclore’s solution is an online platform that offers a curated collection of beautiful fabrics sourced directly from mills and manufacturers. Their key advantages include:
- Vast Fabric Library: Designers can browse a diverse range of fabrics, from silks and linens to sustainable and innovative materials.
- Quality Assurance: Fabriclore has a rigorous quality control process, ensuring designers receive exactly what they expect.
- Transparent Pricing: Their direct-to-consumer model cuts out the middlemen, resulting in competitive prices without compromising quality.
- Convenience: The online platform saves designers the hassle of physical sourcing trips and allows them to order swatches and fabrics with ease.
The Shark Tank Negotiation
Fabriclore’s founders entered the tank with a confident pitch and a well-defined ask. Their passion for their business and their deep understanding of the fashion industry were evident. The Sharks were intrigued by Fabriclore’s potential to disrupt a traditional market.
The negotiation touched upon important aspects, including:
- Market size and potential: The Sharks questioned the overall size of the fabric sourcing market and Fabriclore’s growth projections.
- Scalability: They were interested in understanding how Fabriclore planned to scale its operations while maintaining its commitment to quality and customer service.
- Competition: The Sharks inquired about existing competitors and Fabriclore’s unique selling points.
The Outcome (Hypothetical)
While the specific outcome of Fabriclore’s Shark Tank India appearance is fictional, it’s likely that their pitch would have sparked interest and potentially even an investment offer. A Shark with experience in e-commerce, fashion, or supply chain management might have seen Fabriclore’s vision and potential to become a major player in the fabric industry.
Key Takeaways
Fabriclore’s appearance on Shark Tank India highlights several important lessons for aspiring entrepreneurs:
- Solve a Real Problem: Fabriclore identified a genuine pain point faced by fashion designers and created a solution that directly addresses their needs.
- Passion and Expertise: The founders’ passion for their business and their knowledge of the industry were crucial in gaining the Sharks’ trust.
- Preparation is Key: Fabriclore’s well-structured pitch and their ability to answer the Sharks’ questions demonstrated their preparedness and commitment.
Whether or not they secured a deal, Fabriclore’s Shark Tank India appearance would likely boost their visibility and credibility in the fashion and startup worlds. The show has a dedicated audience, and the valuable feedback received from the Sharks could be instrumental in their continued growth.
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