In a rare event, an entrepreneur couple from Guwahati running a clothing brand targeted to Gen-Z cracked all shark deal in the business reality TV show Shark Tank India Season 3.
Rimjhim Deka and Partha Kakati recently appeared on Shark Tank India with their homegrown brand ‘Littlebox’ with an ask of Rs 75 lakh for 1% equity (valuation Rs 75 crore).
Founded in June 2022, ‘Littlebox’ is a direct-to-consumer (D2C) fashion brand that caters to the fashion sensibilities of Gen Z.
It recorded more than 2 lakh shipment across India with a daily shipment rate of over 1,200 orders. In August 2023 itself, the brand had sales of Rs 2 crore.
The company operates from two key locations, with marketing, content, IT, and operations based in Guwahati and the warehouse and factory situated in Delhi.
The founders Rimjhim and Partha, who have been married for six years, manage the business collaboratively, splitting their time between both the cities.
During her pitch, Rimjhim said, “We want to contribute to our hometown and inspire the youth here to pursue entrepreneurship.”
She also talked about the significant shift towards startups in Assam, supported by government initiatives and incubation centers.
All the sharks on the show, Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh and Amit Jain were impressed by the couple’s ambition, rapid growth and how a small brand reached a wide audience with their smart marketing, targeted ads and Instagram community.
When the pitch ended, shark Aman Gupta offered a deal of Rs 50 lakh for 2% equity, Rs 25 lakh debts at 12% interest for two years.
Ultimately, all sharks agreed to a deal, with ‘Littlebox’ founders accepting Rs 75 lakh for 2.5% equity at a valuation of Rs 30 crore.
