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In India, women have been subject to neglect in almost every field. Aishwarya Jhawar and Minakshi Jhawar, the founders of Ekatra, saw this as a challenge and an opportunity. Ekatra is a sustainable artistic brand that manufactures stationery and lifestyle products. Their aim is to provide a platform for women to showcase their skills and talents to the world. The company has been providing training and employment to women in stitching and weaving.
Ekatraa's unique selling proposition (USP) is their focus on women's empowerment, which is reflected in their products, business model, and social impact. They have positioned themselves as a socially responsible brand that provides sustainable, handcrafted products, while also providing employment opportunities and skills training to women.
This USP has helped them differentiate themselves from other brands in the market, and build a loyal customer base that is passionate about supporting their cause. Ekatraa's USP highlights their commitment to creating a positive impact in society, while also providing high-quality products that are eco-friendly and socially responsible.
Ekatraa's business model is centered around the production of sustainable artistic products that are aimed at empowering women. They have a unique proposition in the market, with 80% of their products being made by women, and they have positioned themselves as a socially responsible brand that aims to bring about positive change.
Ekatraa's products include stationery and lifestyle items, and they have a strong online presence, with their products being sold on 19 different marketplaces and their own website. They also collaborate with retail stores across India to sell their products offline, further expanding their reach.
Their focus on women's empowerment extends beyond just their product line, as they also train women in stitching and weaving, providing them with valuable skills and employment opportunities. This has helped them build a loyal customer base that supports their cause, and has contributed to their strong sales growth.
Ekatraa's target market comprises consumers who are socially responsible and have a preference for sustainable and eco-friendly products. Their products are targeted towards women who appreciate the value of handcrafted items and are willing to pay a premium for them.
Additionally, their focus on women's empowerment has helped them build a strong following among individuals who are passionate about supporting social causes. This has enabled them to build a loyal customer base, and expand their reach through word-of-mouth marketing.
Ekatraa's gross sales have seen steady growth over the past few years, reflecting the increasing popularity of their sustainable artistic brand. In FY19-20, they recorded sales of Rs. 90,000, which grew exponentially to Rs. 9 lakhs in FY20-21, and further to Rs. 10.5 lakhs in June 2022. For FY22-Q1, their sales amounted to Rs. 10.4 lakhs, and in the month of August, they recorded sales of Rs. 5.4 lakhs.
It's worth noting that Ekatraa's sales are split between online and offline channels, with 65% of their sales being made online and 35% offline. This distribution has enabled them to reach a wider audience and expand their customer base. Additionally, they have been able to establish collaborations with 25 retail stores across India, which has also contributed to their sales growth.
Ekatraa's gross margin is an impressive 80%, indicating that they have a strong pricing strategy and are able to command a premium for their sustainable artistic products. Their net margin of 27% is also noteworthy, indicating that they are able to manage their costs and overheads effectively.
The founders, Aishwarya Jhawar and Minakshi Jhawar, pitched their business to the sharks, asking for Rs. 40 lakhs in exchange for 10% equity at a valuation of Rs. 4 crores.
During the pitch, the sharks were impressed by Ekatraa's focus on women's empowerment and sustainable products. However, they were also concerned about the company's low sales figures and high overheads. After some negotiation, Amit and Peyush offered Rs. 20 lakhs in exchange for 20% equity and 20 lakhs debt, with the condition that Ekatraa would become a direct-to-consumer (D2C) brand focused on women's empowerment.
The deal was eventually finalized, and the investment from Amit and Peyush helped Ekatraa expand their reach and improve their marketing efforts. They were also able to use the funds to invest in new product development and scale their production.
Ekatra plans to expand its business and grow its presence in the market. They aim to create more job opportunities for women in the future and continue to support women's empowerment. They also plan to increase their marketing efforts and strengthen their online presence.
In conclusion, Ekatra is a startup that is making a difference by providing a platform for women to showcase their skills and talents. Their unique selling point of sustainability and women empowerment has helped them stand out in the market. With their successful appearance on Shark Tanks India and the support of their investors, Ekatra is well-positioned to achieve its goals and expand its business in the future.
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