Leafy Affair is a one-of-a-kind brand made in India that sells floral jewelry to the masses. Supriya Donthi was the one who came up with the idea of preserving a part of nature in the form of jewelry. The brand has created quite a stir in the market and even celebrities like Ranveer Singh have worn their product.
More About Leafy Affair
Supriya Donthi, the founder of Leafy Affair, appeared in Shark Tank India Season 2 Episode 24 with her floral jewelry and stationery. The business has been in operation since 2016 and is making quite great sales and garnering good profits at the time they appeared on shark tank.
The company preserves real flowers, leaves, and seeds and uses them to make attractive jewelry and stationeries. These are also known as botanical jewelry and they stand out among the crowd in a 16000-crore fashion jewelry market.
The unique features of the Leafy Affair include-
- They use real flowers, leaves, and seeds to make jewelry
- They make one-of-a-kind fashion jewelry in the market
- They introduce new products according to the seasonal variations
Leafy Affair Shark Tank Pitch and Updates
The founder of Leafy Affair appeared on Shark Tank India Season 2 Episode 24 and demanded INR 50 lakhs for a 2.5% equity at a valuation of 20 crores.
After the initial pitch, Supriya Donthi asked the sharks if she could show them their products and they were very impressed with her range of items.
But when Namita inquired about the price, the sharks felt the jewelry was a bit too pricey given the fact that it was made up of normal metal and not silver. To justify the price point, Supriya said that it is not the metal but the whole preservation process which makes the product expensive.
After this, Aman was curious about their sales. Supriya replied that the company made INR 1.10 Crores and their last month’s sale was INR 21 lacs. She concluded by saying that the company would be closing at INR 3 crores in FY 22-23. Hearing the numbers the sharks were very impressed initially.
After this, Anupam was curious if she had raised any funding yet. To this Supriya replied that they are completely bootstrapped and they make a gross profit of 80% and EBITDA of 35%. However, when Anupam asked about the retention rate she said it was only 12% which was quite low.
At this point, Vineeta said that this is quite an easily copyable product to which Namita agreed. But Supriya defended herself by replying that they have the experts in the field of botany with them and hence they would always stand out.
As the pitch proceeded she revealed that they make around 6000 pieces every month. To this Vineeta was curious to learn if according to her numbers, they are selling about 1500-2000 pieces a month, what is the point of making so many pieces.
At this stage, she revealed that they have a manufacturer in China and due to the transit charges and other expenses, it becomes a bit troublesome. But Amit Jain was not convinced and asked her views on the growth of her business in the next 3-4 years to which she confidently replied that it will touch INR 100 crores in the next 5 years.
But the sharks were still unconvinced, and Aman was out of the deal stating that he sees a lack of scalability in the business and a competitive moat. Followed by him Namita was also out saying it was the MOQ that was not convincing her.
After this Vineeta said that she was really impressed by the mission of the brand and the brand name and the designs as well.
However, she believes that it won’t be able to grow as a brand and would become a range of jewelry in the future. Due to this reason, she was also out. Unfortunately, Amit Jain was also out since according to him it was difficult to fathom the growth of the business.
Finally, Anupam was the last shark who was left. He said that he was very impressed with the product and the industry but felt Supriya’s pitching was all wrong. According to him, if she could pitch the products with strong storytelling, strong content, and a clean jewelry brand then it would have appealed to the sharks as well as the masses even more.
|Company Name||Leafy Affair|
|Shark Tank Episode||Season 2 – Episode 24|
|Asked For||INR 50 lakhs for 2.5% equity|
Unfortunately, Supriya could not secure any deal from the tank.
Frequently Asked Questions About Leafy Affair
After their appearance on Shark Tank India Season 2, people were trying to find more information about Leafy Affair. Here are some of the frequently asked questions about them.
1. Who Is The Founder of Leafy Affair?
The founder of the company is Supriya Donthi. She did her MSc and BSc in biotechnology after which she pursued her MBA from Symbiosis.
2. Is Leafy Affair profitable?
Leafy Affair is a newly launched company, but they are already making some profits.
3. Why did the Sharks not invest in Leafy Affair?
For Aman the issue with their products was sustainability. However, for Namita and Vineeta it was the MOQ and the easily copyable nature of the products respectively.
According to Amit Jain, the products did not seem to grow after a certain level and hence he was out. As for Anupam, he was not convinced by the pitch and storytelling for which he also could not close the deal.
4. What happened to Leafy Affair after Shark Tank?
Leafy Affair did not get any deal on Shark Tank India Season 2. We’re following them on different channels and will share as soon as we get any updates.