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Angrakhaa is a size-inclusive clothing brand that was founded by Asana Riamei and Vishakha Bhaskar. Asana Riamei is from Tamenglong district, Mirpur, and came to Delhi for her studies. Vishakha Bhaskar has completed an honors degree in economics from Sri Ram College of Commerce. The two founders met while working in a fashion company and decided to start their own company, with the aim of making fashionable, cool, and trendy clothes across all sizes.
Angrakhaa's unique selling proposition is that they are a size-inclusive clothing brand that offers customization at no extra cost. They specialize in making clothes that are fashionable, cool, and trendy across all sizes, and their prices are the same for all products, regardless of size. They are not a plus-size inclusive brand, but they are spreading the message that they are solving this plus-size issue.
Angrakhaa's business model is built around its size-inclusive clothing brand. They offer a wide range of fashionable and trendy clothes across all sizes, including dresses, skirts, co-ord sets, and Indian wear. They specialize in customization and offer a pricing strategy where customers do not have to pay a "fat tax."
One of the main strengths of their business model is their commitment to inclusivity. The brand aims to create a space where all individuals, regardless of their size, can feel fashionable and confident. This is achieved through their extensive range of sizes and designs, ensuring that everyone can find something they love.
Another critical aspect of their business model is their focus on customer experience. Angrakhaa ensures that they deliver the products usually within 7-8 days of the order, making sure that their customers receive their orders quickly. They also have excellent customer service, and they actively engage with their customers to receive feedback and suggestions.
Angrakhaa's target market is anyone who is looking for size-inclusive clothing. Their brand caters to all individuals, regardless of their size, and they have a range of designs and styles that appeal to different tastes and preferences. They have a particular focus on people who have experienced difficulty finding fashionable clothes in their size.
Their brand caters to people who prioritize inclusivity and accessibility in their fashion choices. They aim to create a safe and inclusive space for people who may have felt excluded from the fashion industry in the past.
Angrakhaa's target market also includes people who value customization and individuality. They offer the option to customize their designs, allowing customers to create unique pieces that suit their preferences and style.
Angrakhaa has shown impressive growth in terms of sales over the years. In FY19-20, the company recorded sales of 14 lakhs rupees, which increased to 7 lakhs rupees in FY20-21, and in FY21-22, the sales skyrocketed to Rs. 1.16 crore. The company has primarily relied on Facebook ads for generating sales, and it has fulfilled over 10,000 orders for its customers, indicating that the brand has a dedicated customer base.
Angrakhaa has consistently delivered its products within 7-8 days of the order. Moreover, the company has spent around 2.9 lakhs in marketing during July 2022, out of a total sales figure of 24 lakhs. The company's cost of goods sold (COGS) is 900 rupees, with a GST of 350 rupees, logistics costs of 100 rupees, and marketing costs of 300 rupees. With a unit price of 2900 rupees, Angrakhaa's net margin was around 20% in FY 21-22, which increased to 35% in FY22-23.
Angrakhaa's founders, Asana Riamei and Vishakha Bhaskar, pitched their size-inclusive clothing brand on Shark Tanks India and asked for 40 lakhs in exchange for 5% equity. The co-founders impressed the sharks with their passion for fashion and their unique business model that offers customization without charging a "fat tax."
During the pitch, Namita, Peyush, Aman, and Namita stepped out of the deal. However, Amit made a counteroffer of 40 lakhs for 20% equity, which the pitchers considered before countering with a 40 lakhs offer for 15% equity. Eventually, the deal was finalized with Amit for 40 lakhs in exchange for 20% equity.
Angrakhaa's founders, Asana Riamei and Vishakha Bhaskar, have ambitious plans for the future of their brand. They aim to make Angrakhaa a global brand that is inclusive of all sizes, rather than just a plus-size brand. The founders intend to expand their product offerings and introduce new categories while staying true to their commitment to size inclusivity and customization.
The company is also exploring the possibility of expanding its presence to offline retail stores, in addition to its existing online store. Angrakhaa plans to continue leveraging social media platforms to promote its brand and reach a wider audience.
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