Get Ready for the Red Carpet with Zillionaire's Celebrity-Approved Jewelry

Zillionaire is a promising startup that has caught the attention of many in the jewelry industry. Founded by Aditya Fathepuriya and Raghav Goyal, who hail from Jaipur, the company has quickly gained popularity among the Gen Z generation.

AIM AND IDEA BEHIND THE STARTUP

The aim of Zillionaire is to create a jewelry brand that caters to the younger generation, specifically Gen Z. They strive to offer unique and trendy jewelry products that are popular among actors and players. Their focus on D2C allows them to offer their products at competitive prices and provide a seamless shopping experience to their customers. Additionally, their plans for expansion to Dubai, UK, and Australia demonstrate their ambition to grow and reach a wider audience.
The startup aims to establish itself as a popular and recognizable jewelry brand for the younger generation.
The idea for the company came during the lockdown period, when the founders became interested in hip-hop music and wanted to wear the same kind of jewelry as their favorite artists. They decided to make their own custom-made jewelry and shared a video of it on Instagram, which received a lot of positive feedback. This led them to start their own jewelry brand, Zillionaire.

BUSINESS MODEL

Zillionaire operates on a Direct-to-Consumer (D2C) business model, which means that they sell their products directly to their customers through their own website. This allows them to bypass traditional retail channels and offer their products at competitive prices.

Their website is user-friendly and offers a seamless shopping experience to their customers. Customers can browse through their collection of jewelry products, choose the products they like, and make a purchase through the website. The products are shipped directly to the customer's doorstep, making the process convenient and hassle-free.

Zillionaire's focus on D2C allows them to have greater control over their products, brand, and customer experience. They can respond to customer feedback quickly and make changes to their products or services accordingly. This also allows them to build a direct relationship with their customers, which can lead to better customer loyalty and retention.

In addition to their website, Zillionaire also has a strong social media presence, particularly on Instagram. They use this platform to showcase their products, share customer reviews, and engage with their audience. This helps them build a community of followers who are passionate about their brand and products.

TARGET MARKET

Zillionaire's target market is the younger generation, specifically Gen Z. This generation is known for their love of unique and trendy fashion, and Zillionaire aims to provide them with jewelry products that fit this description.

Their products are popular among actors and players, which also makes them attractive to individuals who are interested in pop culture and entertainment. Additionally, their strong social media presence on Instagram helps them reach a wider audience, particularly those who are active on social media.

Zillionaire's focus on D2C also allows them to cater to customers who prefer to shop online, which is a growing trend among younger generations. Their website is user-friendly and provides a convenient and hassle-free shopping experience.

In terms of demographics, Zillionaire's target market is likely to be younger individuals who are in their late teens or early 20s. They may be students or young professionals who have disposable income and are interested in fashion and pop culture.

SALES AND REVENUE

Zillionaire has been able to achieve strong sales growth in recent years. In FY20-21, they had sales of Rs. 11 lakhs, which increased to Rs. 72 lakhs in FY21-22. In FY22-23, their sales for the first seven months were Rs. 1 crore, and they are projected to achieve sales of more than Rs. 2 crore for the entire year.

The average selling price of their jewelry products is Rs. 12,000, and the cost price is Rs. 5,000. This gives them a net profit margin of around 60%. Their average order value is Rs. 14,000, which is higher than their average selling price. This indicates that customers are purchasing multiple items in a single order.

Zillionaire currently has 400 units of inventory, and they can manufacture up to 40,000 units per month. This gives them the capacity to scale up their production as their sales continue to grow.

Their ROAS (Return On Ad Spend) is about 25 lakhs rupees in 1 crore of revenue, which gives them a rate of 4. This means that for every rupee spent on advertising, they generate 4 rupees in revenue. Their COCS (Cost Of Customer Acquisition) is Rs. 25 lakhs, which indicates that they are able to acquire customers at a reasonable cost. Their net profit is around 15 lakhs rupees, which is a healthy margin given their sales volume.

FUNDING IN SHARK TANKS INDIA

The founders of Zillionaire pitched their business and made an ask of 50 lakhs for 3.3% equity in the company. However, the sharks were interested in investing more in exchange for a larger stake in the company.

Anupam made a counter offer of 1 crore for 10% equity in the company, which was a significantly higher valuation than what the founders had originally asked for. This would give Anupam a larger ownership stake in the company, but it would also provide Zillionaire with more funding to scale up their business.

Another offer of 50 lakhs for 10% equity was also made by Vineeta, Peyush, and Aman, but the founders ultimately decided to accept Anupam's offer.

The final deal that was agreed upon was 1 crore rupees in exchange for 10% equity in the company, which was a higher valuation than what the founders had originally asked for, but it provided them with the funding they needed to continue growing their business.