Calling all poetry lovers and self-expression enthusiasts! Have you ever wished your jewelry could tell a story? Look no further than Quirksmith, the silver jewelry brand taking the world by storm. Founded by two creative sisters, Divya and Pragya, Quirksmith isn’t your average jewelry store.
They handcraft stunning pieces inspired by poems, allowing you to wear your emotions and spark conversations with every glance. From dream-chasing necklaces to rebellious rings, Quirksmith promises unique designs that capture the essence of you. But their journey hasn’t been all sunshine and rainbows.
Tune in as we delve into their Shark Tank India pitch, dissect the sharks’ critiques, and explore the future of this innovative brand. Get ready for a whirlwind of emotions, entrepreneurial spirit, and showstopping silver creations!
About The Company – Quirksmith
| Startup / Company Name | Quirksmith |
| Industry | Jewellery Industry |
| Founder | Divya & Pragya Batra |
| Product / Service | Jewellery Products |
| Revenue | 6 Crores (22-23) |
About The Pitcher
| Number of Presenters | Two presenters |
| Name of Presenters | Divya & Pragya Batra |
| Pitchers City | Agra |
| Pitchers State | Delhi |
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Quirksmith Pitch Details
| Shark Tank Episode | Episode 17 |
| Original Ask Amount | ₹ 80 Lakhs |
| Original Ask Equity | 1% Equity |
| Original Valuation | 80 Crores |
| Offer Received | 1)30 Lakhs for 3% Equity & 50 Lakhs Debt at 2% Royalty until 1 Crore is recouped 2)30 Lakhs for 3.3% Equity & 50 Lakhs Debt at 12% interest for 3 Years |
| Final Deal Amount | NA |
| Total Deal Equity | NA |
| Sharks in Deal | NA |
Solutions Offered By Business
Quirksmith isn’t your typical jewelry brand. They offer a unique solution for those seeking emotional expression through handcrafted silver pieces inspired by poems. Here’s a breakdown of what Quirksmith offers:
- Emotional Connection: Quirksmith jewelry goes beyond aesthetics. Each piece is designed to capture a specific emotion or tell a story inspired by poems. This allows customers to connect with the jewelry on a deeper level and express themselves authentically.
- Conversation Starters: The unique designs and poetic inspirations act as conversation starters. Imagine someone complimenting your necklace, and you get to share the beautiful poem it embodies.
- Personalized Expression: Quirksmith offers a variety of designs catering to diverse emotions and styles. From dream-chasing necklaces to rebellious rings, there’s a piece for everyone.
- Handcrafted Quality: The jewelry is crafted from silver, ensuring a touch of elegance and durability. The handcrafted nature adds a personal touch and ensures each piece is unique.
- Storytelling Through Design: Quirksmith doesn’t shy away from storytelling. Their website likely showcases the poems that inspired each piece, allowing customers to delve deeper into the meaning and connect with the artist’s vision.
In essence, Quirksmith offers a solution for those who want jewelry to be more than just an ornament. They bridge the gap between self-expression, emotional connection, and artistic appreciation through their poem-inspired silver creations.
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Lesser Known Facts About Quirksmith
- Poetry in Silver: Quirksmith’s USP lies in its unique concept of crafting silver jewelry inspired by poems. Each piece carries a deeper meaning and allows wearers to express themselves through emotions and storytelling.
- Bootstrapped Success: Despite not raising any funds before Shark Tank, Quirksmith achieved a loyal customer base and impressive sales figures of ₹6 crore in the year prior to the pitch.
- Focus on Brand Building: The founders initially prioritized brand building over online marketplaces, leading to a strong brand identity but limiting immediate growth.
- Valuation Disagreement: Quirksmith sought ₹80 lakh for 1% equity, which the sharks deemed unreasonable considering their niche market and pricing strategy.
- Rejection with a Lesson: Despite not securing a deal, Divya and Pragya received valuable feedback from the sharks regarding scalability, pricing, and product diversification.
- Open to Growth: The pitch highlighted the founders’ willingness to learn and adapt. They expressed a desire to expand their product range beyond occasion wear and explore daily wear options.
- High Hopes for the Future: The Shark Tank India platform provided Quirksmith with national exposure. Whether they secure funding elsewhere or implement the sharks’ suggestions, their future looks promising.
- These interesting facts paint a picture of a passionate brand with a unique concept and a dedication to building a strong identity. While the Shark Tank experience might not have yielded immediate investment, it did spark conversations and highlight their potential for growth.
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