Empowering the LGBTQ Community with Be Unic

Be Unic is a unique startup founded by Ashish Chopra, Simmi Nanda, and Vishesh Chopra. Simmi, a law graduate from DU, had a successful business in dental and medical equipment until her divorce after 22 years of marriage. She then transformed herself by taking various courses, including a public speaking course. In 2016, Ashish's mother discovered that he was gay and was initially devastated, but she later accepted the truth with all love. Ashish currently works as a full-time HR at Google.

Be Unic is an e-commerce marketplace created by the LGBTQ community for people all over the world. With over 500 products sold in 12 different countries in the last 3 years, the platform offers footwear, clothing, accessories, home decor, and more. According to research, about 7% of the total population belongs to the LGBTQ community, and there are approximately 5 crore LGBTQAI+ individuals in India alone. The goal of Be Unic is to provide a platform for LGBTQ entrepreneurs to showcase their talent and sell products under the brand name. The startup initially started with colorful and exciting footwear and later encouraged other LGBTQ entrepreneurs to join and expand the product categories. Currently, Be Unic has over 26 queer creators associated with them and more than 500 products available.

The Backstory of the startup

BeUnic, an inclusive and gender-fluid footwear brand that has now expanded into a full-fledged online marketplace, has a touching backstory that started with a mother's love for her son. Nanda, the mother of the co-founder Aashish, had always envisioned a bright future for her son. However, her dreams were shattered when she learned about Aashish's sexuality.

At first, Nanda was saddened by the news and thought that her dreams would never come true. She and Aashish were not on talking terms for four months, but eventually, her elder son Vishesh helped her come to the realization that her son needed her support. Nanda transformed herself by taking multiple courses, including a course on public speaking, and in 2016, she accepted Aashish in front of a group of 40-50 people.

Aashish, inspired by his own love for heels and the lack of inclusive footwear, started BeUnic as a gender-fluid and inclusive footwear brand. The startup expanded into an online marketplace after Aashish attended a conference in Bengaluru for LGBTQ+ entrepreneurs. It commissions designs from queer artists and uses models from the community to promote its products.

Despite the founders' diversified interests, which led to the sharks backing out from investing in the brand, Nanda's story of accepting her child's sexuality and starting a community left the panel visibly impressed. Today, BeUnic offers clothes, accessories, footwear, stationery, and home decor, and has shipped its products to 12 countries. The startup's specialty is that it's trying to build a community, and it's doing it by promoting inclusivity and acceptance.

Aim of the startup

The aim of Be Unic is to provide a platform for LGBTQ entrepreneurs, artists, and designers to showcase and sell their products and services on a global scale. The company was founded with the goal of empowering the LGBTQ community and creating a space where individuals can express themselves freely. By offering a diverse range of products, from footwear and clothing to home decor and self-care, Be Unic is catering to the needs and preferences of LGBTQ individuals and their allies. Additionally, the company donates a portion of its profits to NGOs that support the LGBTQ community, further contributing to the cause. Be Unic is focused on expanding its reach and capturing the Indian market, while also establishing a presence in key global markets such as the USA, UK, and Australia. The company aims to leverage the power of e-commerce and online marketplaces to create a safe and inclusive environment for LGBTQ individuals to showcase their talent and contribute to society. Through its unique business model and commitment to social responsibility, Be Unic is setting an example for other startups to follow in terms of diversity, inclusion, and empowerment.

Sales and Revenue

In FY 19-20, the startup had sales of ?20,000. The following year, in FY 20-21, their sales increased significantly to ?1.25 lakhs. However, their attempts to build a marketplace were impacted by Covid-19, and their sales for that year were not as high as they had hoped.

Despite this setback, Be Unic rebounded in FY 21-22, with sales reaching ?50 lakhs. Additionally, the startup has had some strong sales months recently. In March, their sales were 1 lakh, which increased to 3.5 lakhs in April and 5.5 lakhs in May. Their sales continued to climb in June, reaching 6 lakhs.

It is also worth noting that the startup generated sales of ?20,000 in FY20. This figure is much lower than their recent sales numbers, indicating that they have experienced significant growth in a relatively short period of time.

Overall, while Be Unic has faced some challenges in the past, their recent sales numbers suggest that they are experiencing growth and success.

Journey on Shark tanks

The founders of Be Unic made an ask of ?1 crore for 10% equity of the company at a valuation of ?10 crores. The sales for FY 19-20 were ?20,000, while for FY 20-21, the sales were ?1.25 lakhs, and in FY 21-22, the sales increased to ?50 lakhs. In March, the sales were ?1 lakh, in April, it was ?3.5 lakhs, and in May, it was ?5.5 lakhs, while in June, it was ?6 lakhs. Last month's sales were ?40,000.

Lenskart co-founder, Peyush Bansal, made an offer of ?25 lakhs for 25% equity in Be Unic, along with ?75 lakhs in debt, with a condition that the founders convert the startup from a marketplace to a D2C brand and work on it full-time. He even offered the founders to create Be Unic eyewear for Lenskart. However, the founders declined the offer, and no final deal was made.

The sharks in the Shark Tank show were moved by the founders' story but saw little merit in investing in the startup. Aman Gupta, co-founder of BoAt, backed out, stating that Be Unic appeared to be a "side project" for the founders. Vineeta Singh, co-founder of Sugar Cosmetics, backed out, stating that bringing together the two parts of Be Unic - community and commerce - would take 3-4 years, and the startup was at an early stage for her to invest in. Namita Thapar, executive director at Emcure Pharmaceuticals, agreed with Singh, but remarked that if the founders can strengthen the community to reach sales worth ?2-?3 crores, it can become an investable business. Anupam Mittal, founder of Shaadi. com, echoed Thapar's sentiments about the founders' story being inspiring and advised them to build a community app or network that could later be leveraged or converted into commerce.