{"id":3158,"date":"2025-01-22T03:46:02","date_gmt":"2025-01-22T03:46:02","guid":{"rendered":"https:\/\/awaraj.com\/indiasharktank\/?p=3158"},"modified":"2025-02-02T18:37:51","modified_gmt":"2025-02-02T18:37:51","slug":"quirksmith","status":"publish","type":"post","link":"https:\/\/awaraj.com\/indiasharktank\/2025\/01\/22\/quirksmith\/","title":{"rendered":"Quirksmith"},"content":{"rendered":"\n<p>Jewellery<\/p>\n\n\n\n<p>Quirky<\/p>\n\n\n\n<p>Season 3 Episode 17<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-text-link-color\">Brand<\/mark><\/strong><\/td><td>Quirksmith<\/td><\/tr><tr><td><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-text-link-color\">Company Name<\/mark><\/strong><\/td><td>QUIRKSMITH LIFESTYLE LLP<\/td><\/tr><tr><td><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-text-link-color\">Founders<\/mark><\/strong><\/td><td>Divya Batra, Pragya Batra<\/td><\/tr><tr><td><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-text-link-color\">Original Ask<\/mark><\/strong><\/td><td>80 lakhs for 1% equity at the valuation of Rs. 80 crores<\/td><\/tr><tr><td><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-text-link-color\">Deal<\/mark><\/strong><\/td><td>No Deal<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>About the Product<\/strong><\/p>\n\n\n\n<p>Embrace your feminine side with the timeless elegance of the Floral Drop Earrings. Crafted with meticulous detail, these earrings feature a delicate silver flower embracing a captivating turquoise stone at its heart. Each piece is meticulously handcrafted, ensuring perfection in every detail. Infuse your everyday style with a sense of wanderlust with the Banjaran Ring. This ring exudes untamed elegance, reminiscent of distant horizons and boundless adventures. Its design speaks volumes, adding a touch of nomadic charm to your ensemble and elevating your look effortlessly.<\/p>\n\n\n\n<p>Celebrate your independence and the diverse facets of love with the Azaad Rooh Pendant. Available with a choice of four Mangalsutra chain variations or a simple silver chain, this pendant pays homage to the free-spirited soul. It symbolizes the liberating power of love, offering a tribute to individuality and freedom of expression. Experience the fluidity of movement with the Mudra Anklet. Inspired by the graceful gestures of a dancer&#8217;s mudra, this anklet captivates with its simple yet distinctive design. Enhanced with a whimsical lock, it adds a touch of quirkiness to your ensemble while reflecting your unique style and personality.<\/p>\n\n\n\n<p><a href=\"https:\/\/quirksmith.com\/\"><strong>quirksmith.com<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p><strong>Founders &amp; their story<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Divya Batra<\/li>\n\n\n\n<li>Pragya Batra<\/li>\n<\/ul>\n\n\n\n<p>Founded by sisters Divya and Pragya, both hailing from Agra, Quirksmith is a notable silver jewellery brand deeply influenced by poetry. Divya holds a degree from NIFT, while Pragya boasts a BTech and MTech from IIT Delhi, complemented by an MBA from INSEAD. Over the span of 7 years, Quirksmith has garnered the patronage of over 300,000 customers. This women-led enterprise operates as a bootstrapped venture, showcasing its commitment to independence and self-sustainability.<\/p>\n\n\n\n<p>The brand predominantly retails through its own website, which accounts for a significant 95% of its sales. With a robust online presence, the website attracts a monthly traffic of 1.2 lakhs, with branded searches contributing between 10,000 to 12,000 visitors. At Quirksmith, jewellery is more than adornment; it serves as a medium for self-expression, allowing wearers to convey their moods and emotions through their accessories. With a maximum retail price of Rs 3000 and a cost of goods sold at Rs 1200, the brand ensures accessibility without compromising on quality or craftsmanship.<\/p>\n\n\n\n<p><strong>About the company<\/strong><\/p>\n\n\n\n<p>At the inception of Quirksmith in 2016, silver jewellery remained on the fringes of mainstream fashion, often relegated to a mere accessory. Interestingly, despite women being the primary consumers, the industry was predominantly steered by men, from production to ownership. Recognizing this gap, Divya and Pragya embarked on a mission to revolutionize the sector. Armed with Rs 40,000 in personal savings and boundless ambition, Divya and Pragya debuted their inaugural collection at a vibrant flea market in Bangalore. This marked the genesis of Quirksmith, a venture born from the desire to infuse creativity and conversation into jewellery design, while empowering women to reclaim ownership of an industry meant for them.<\/p>\n\n\n\n<p>Divya, a NIFT &#8217;04 graduate renowned for her innovative designs, leads the design and production arm of Quirksmith. With an illustrious background including stints at Amrapali Jaipur and FabJewels Ltd, her expertise elevates the brand&#8217;s aesthetic appeal. Complementing Divya&#8217;s artistic prowess, Pragya, an IIT Delhi and INSEAD alumna, spearheads marketing and sales. Drawing from her strategic acumen honed at Bain &amp; Company and InMobi, she propels Quirksmith into the limelight.<\/p>\n\n\n\n<p>Underpinning their design philosophy is the ethos of &#8220;Wear your emotions,&#8221; encapsulating the brand&#8217;s vision to offer jewellery as a conduit for self-expression. Each piece, be it the &#8220;Musaafir&#8221; anklet for the wanderer or the &#8220;Atma Mugdha&#8221; ear cuff for the self-affirming, resonates with personal narratives. For Divya, the creative process transcends mere expression; it&#8217;s a reflection of her multifaceted identity. As she evolves, so do her designs, inviting wearers to find fragments of themselves in every creation.<\/p>\n\n\n\n<p><strong>Revenue<\/strong><\/p>\n\n\n\n<p>In the fiscal year 2021-2022, Quirksmith recorded annual sales of 5 crores, which increased to 6 crores in the following fiscal year 2022-2023. Notably, sales for August 2023 stood at 75 lakhs, with July and June 2023 recording 58 lakhs and 65 lakhs respectively. The net profit for the fiscal year 2022-2023 amounted to 24 lakhs, representing a net margin of 4%. Moreover, the brand maintained an average order value of Rs 2500, reflecting its consistent performance and customer engagement.<\/p>\n\n\n\n<p><strong>Founders\u2019 Ask&nbsp;<\/strong><\/p>\n\n\n\n<p>80 lakhs for 1% equity at the valuation of Rs. 80 crores<strong>.<\/strong><\/p>\n\n\n\n<p><strong>Offers<\/strong><\/p>\n\n\n\n<p>Amit\u2019s offer: 30 lakhs for 3% equity at the valuation of 10 crores and 50 lakhs debt at 12% interest for 2 years.<\/p>\n\n\n\n<p>Aman\u2019s offer: 30 lakhs for 3.3% equity at the valuation of 9.09 crores and 50 lakhs debt at 12% interest for 3 years<\/p>\n\n\n\n<p>Amit\u2019s revised offer: 30 lakhs for 3% equity at the valuation of 10 crores and 50 lakhs debt at 2% royalty until 1 crore is recouped.<\/p>\n\n\n\n<p><strong>Founders\u2019 Counteroffer:<\/strong><\/p>\n\n\n\n<p>80 lakhs for 1.5% equity at the valuation of 53.33 crores.<\/p>\n\n\n\n<p><strong>No Deal<\/strong><\/p>\n\n\n\n<p><strong>Reasons for no deal<\/strong><\/p>\n\n\n\n<p>The expectations of the valuation did not match.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"\u2018Quirksmith\u2019 \u0915\u0940 Poetic Silver Jewelry \u0932\u0917\u0940 Sharks \u0915\u094b Beautiful | Shark Tank India S3 | Full Pitch\" width=\"1290\" height=\"726\" src=\"https:\/\/www.youtube.com\/embed\/80TvkAv51Rg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Jewellery Quirky Season 3 Episode 17 Brand Quirksmith Company Name QUIRKSMITH LIFESTYLE LLP Founders Divya Batra, Pragya Batra Original Ask 80 lakhs for 1% equity at the valuation of Rs.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3158","post","type-post","status-publish","format-standard","hentry","category-indiasharktank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - 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