{"id":2930,"date":"2025-01-20T16:11:01","date_gmt":"2025-01-20T16:11:01","guid":{"rendered":"https:\/\/awaraj.com\/indiasharktank\/?p=2930"},"modified":"2025-01-29T15:12:50","modified_gmt":"2025-01-29T15:12:50","slug":"girgit","status":"publish","type":"post","link":"https:\/\/awaraj.com\/indiasharktank\/2025\/01\/20\/girgit\/","title":{"rendered":"GirGit"},"content":{"rendered":"\n
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Brand<\/strong><\/td>Girgit<\/td><\/tr>
Company Name<\/strong><\/td>Girgit Studios Private Limited<\/td><\/tr>
Founders<\/strong><\/td>Benoy Shah Pooja Bajaj Shah  <\/td><\/tr>
Original Ask<\/strong><\/td>Rs. 20 lakhs for 10% equity at a valuation of Rs. 2 crores.      <\/td><\/tr>
Deal<\/strong><\/td>Rs. 20 lakhs for 20% equity at the valuation of Rs. 1 crore.  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

About the Product<\/strong><\/p>\n\n\n\n

Girgit is India’s first color-changing product store, and its products are activated when they come into contact with elements of nature, such as sunlight, air, or water. Their products have temperature-sensitive prints and unique photochromatic colors on clothing, watch bands, shoes, and other products to the sharks.<\/p>\n\n\n\n

Girgit offers a range of color-changing clothing options for men, women, and children, including shorts, shoes, and swimwear. The brand’s styles are often playful and colorful and are made from high-quality, cruelty-free materials.<\/p>\n\n\n\n

In addition to its color-changing clothing, Girgit also offers a range of accessories, including bags, scarves, and hats.<\/p>\n\n\n\n

Girgit is an online-only brand, and its products can be purchased through its website. Prices for Girgit garments range from around $20 for a pair of color-changing shorts to several hundred dollars for a designer dress or suit. Despite its high price point, the brand is famous.<\/p>\n\n\n\n

Girgit Store<\/a><\/p>\n\n\n\n

Founders & their story<\/strong><\/p>\n\n\n\n

Benoy Shah<\/p>\n\n\n\n

Pooja Bajaj Shah<\/p>\n\n\n\n

The concept behind Girgit and its line of color-changing apparel goods, which originated during the pandemic, was to make a small amount of sunshine go a very long way.<\/p>\n\n\n\n

Pooja Bajaj Shah, the founder of the company, began looking for a means to bottle her notion in a form that everyone could enjoy anytime they went outdoors in the sun or took a bath in the pool. She eventually discovered a way to do so.<\/p>\n\n\n\n

She pursued her concept from morning till night, and within three months, she established GIRGIT in 2018.<\/p>\n\n\n\n

About the company:<\/strong><\/p>\n\n\n\n

The Girgit store is a well-known fashion brand in India that is known for selling clothing that can transform their colour. This company is a favourite among consumers of all ages due to the undeniable draw of its color-changing clothes that resembles chameleons.<\/p>\n\n\n\n

At first, they only made products for kids, but after hearing from customers, they also started making products for adults. They do their manufacturing by keeping the process cruelty-free.<\/p>\n\n\n\n

They’ve sold 3,000 items to 1,800 people. Girgit is the only Indian fashion brand that focuses on this part of the market.<\/p>\n\n\n\n

The company\u2019s unique selling proposition is cheap raw materials and a high gross margin.<\/p>\n\n\n\n

Revenue: <\/strong><\/p>\n\n\n\n

The company has achieved lifetime sales of 58 lakh INR, earning a gross margin of 79%.<\/p>\n\n\n\n

On August 22, the sales were Rs. 8.5 lakhs. On July 22, the sales were Rs. 7.5 lakhs, and in June, it was Rs. 5 lakhs.<\/p>\n\n\n\n

Their sales are 65% from WhatsApp and 20% from exhibitions.<\/p>\n\n\n\n

They are spending approx. Rs. 30,000 in Marketing.<\/p>\n\n\n\n

Founder\u2019s Ask <\/strong><\/p>\n\n\n\n

Rs. 20 lakhs for 10% equity at a valuation of Rs. 2 crores.<\/p>\n\n\n\n

Offers: <\/strong><\/p>\n\n\n\n

Namita offered Rs. 20 lakhs for 20% equity at the valuation of Rs. 1 crore.<\/p>\n\n\n\n

Founder\u2019s Counter Offer<\/strong><\/p>\n\n\n\n

Rs. 20 lacs for 15% equity at a valuation of 1.33 crores.<\/p>\n\n\n\n

Final Deal <\/strong><\/p>\n\n\n\n

Namita didn\u2019t accept the equity of 15%, so the final deal was closed at; Rs. 20 lakhs for 20% equity at the<\/p>\n\n\n\n

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