BL FABRIC, a Surat-based startup founded by Mayur Bharatbhai Gediya, specializes in stylish and affordable lehenga cholis. Known for its intricate embroidery work, including sequins, thread work, and zari detailing, the brand has quickly gained popularity among Indian women.
Mayur entered Shark Tank India seeking ₹1 crore for 2% equity, valuing his company at ₹50 crore. What stood out was BL FABRIC’s strong online presence. The brand has over 2.4 million YouTube subscribers and 800,000 Instagram followers, with some reels going viral and attracting 47 million views. Mayur manages these platforms himself, posting 20-25 times a month.
Founded in 2021, BL FABRIC operates exclusively through its website, offering semi-stitched lehengas, unstitched cholis, and ready-to-wear dupattas. Customers can even get their cholis stitched for an additional ₹1,000. By September 2023, the startup had already earned ₹5 crore in revenue, with a 10% net profit, and was on track to close the year at ₹18 crore.
Despite the impressive numbers, some Sharks had concerns. Namita Thapar and Vineeta Singh appreciated the quality and design but were hesitant about scalability and margins. However, Ritesh Agarwal and Kunal Bahl saw potential and offered ₹1 crore for 5% equity, valuing the company at ₹20 crore.
After negotiations, a final deal was struck: the Sharks agreed to ₹1 crore for 4% equity, with a performance clause. If BL FABRIC doesn’t achieve ₹15 crore in revenue by FY24-25, their equity will increase to 5%.
BL FABRIC’s success lies in its ability to combine affordability with high-quality designs. The startup has already served 65,000 customers in just three years, offering lehenga cholis at 65%-75% lower prices than traditional markets.
Mayur’s pitch was a masterclass in leveraging social media to grow a business. With millions of followers and viral content, he has transformed a regional brand into a rising star. Now, with the Sharks’ support, BL FABRIC is set to scale new heights in the competitive ethnic wear market.
