The third episode of Season 2 of Shark Tank India debuted on January 4, 2023, between 10 and 11 IST, know about the founder, deal and net worth of Girgit
With the tagline, “Entrepreneur ki Leher Ek Baar Firse,” the Indian version of Shark Tank has returned with its second season on Sony Entertainment Television and Sony LIV.
Girgit Shark Tank India founder, price, deal, revenue, funding, net worth 2023
Benoy Shah and Pooja Bajaj Shah are the founders of ‘Girgit’ who joined as the third team in the episode. It is India’s first colour-changing product. Before being a part of Girgit, Pooja worked as a teacher and coordinator in a Mumbai school.
Girgit’s Company Information
Girgit is the first store of colour-changing goods in India. It produced goods for both children and adults. The firm takes pride in satisfying its 1800 customers and generating amazing revenue. It happily served customers with more than 3,000 sales in a year. The firm initially started off as a kid-centric store. Gradually, it moved to become a store that catered to kids as well as adults. Due to customer feedback and growing demand, the company initiated the change. The print of the clothing also varies as a result of temperature fluctuations. The price of the product is Rs. 2000 for children’s shoes and Rs. 3000 for adults.
The founders offered pitcher for 20 lacs for 10% stock and a valuation of 2 crores for the firm.
Information Regarding The Business In General
They have made 58 lakhs in total sales with a gross margin of 79%. The sales were 7.5 lakhs until July 22 and 5 lakhs in June. The sales saw a surge of 8.5 lahks in the month of August. They make 65% of their sales through WhatsApp, 20% through shows, and spend Rs. 30,000 on Instagram promotions. Their large gross margin and affordable raw materials are their distinctive selling points. Backpacks, stickers, slogans, and T-shirts are just a few examples of their possible cross-selling options.
Counter-Offers And Offers Done During The Deal
Namitha made a 20 lakh offer for 20% stock at a 1 crore value.
They countered with a bid of 20 lacs for 15% stock at a price of 1.3 crores.
Girgit’s Final Contract
The final agreement was reached with Namitha for Rs. 20 lakhs for 20% equity at an Rs. 1 crore valuation.
Girgit Store is a #Mumbai base color changing apparels #startup. They have made products like #footwear, #shorts, #masks, watch bands, T-Shirt, Magic Bottle etc.
The current valuation of #Girgit is ₹1 Crore.#sharktank #sharktankindia #sharktankseason2 #namitathapar pic.twitter.com/YnDRnmp8Wl— Sharktanktalks (@Sharktanktalks1) January 8, 2023
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