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00:00This is interesting, really you want to do I mean I'm saying it's interesting to get into the history of all this
00:15Water, my parents are doing this now, my mother's been doing it forever
00:21My grandmother would do it forever
00:30Audio
00:52Hello Shaks, my name is Kirhti Goel
00:54And I am Gaurav Gurk
00:55And I am Aditya Agrawal
00:56And we are the People of Peelal
01:00Petal started 4 years ago in SRCC in a college project.
01:04Petal is an Ayurvedic and authentic brand
01:08where we sell kitchenware, cookware, drinkware and dinnerware utensils
01:14which is quite beneficial for our health.
01:18In these utensils, 93% of nutrients are retained
01:24while the rest of the utensils are only 13% of nutrients.
01:29These products are made by Jandiala Guru.
01:32Their craft is an eclothic craft
01:35which is also a part of UNESCO's Intangible Cultural Heritage.
01:38Today, we have impacted 55 artisans families
01:43who were able to earn 2,000 rupees per month.
01:47Today, they are able to earn 25,000 rupees per month.
01:50Our vision is that every house is Petal.
01:53For that, we ask you about 50,000,000 rupees for 1% equity in our company.
01:58Sharks, we say that old is gold.
02:01We must believe that for our health, Petal is definitely the new gold.
02:07In the situation, I had a few news about you a week ago.
02:12You also have funded Drom, Arjun, Arjun, Arjun, etc.
02:16Yes, yes.
02:17Now, we have opened our first seed round.
02:19Titan Capital has also reached the lead.
02:21Oh, wow!
02:22Anni Cut Capital was the same area.
02:24Gazzal, Mama Earth, Sandeep, Arjun, Arjun, Arjun, Arjun, Arjun, Arjun, Arjun, Arjun, Arjun, Arjun and Arjun.
02:29Vishesh from Shiprocket.
02:30So, these are a lot of different D2C founders in this round.
02:34So, Aditya Khirti also comes to that.
02:36You can tell your project about SRCC.
02:39So, you guys are SRCC from SRCC.
02:40Aman, I was in SRCC.
02:41In 2021, I had my graduation from SRCC.
02:44Then, we started PITAL as an Inactus project.
02:47It is a society in every college
02:49where we undertake social entrepreneurial projects.
02:53So, as a college project,
02:55we don't have money for students
02:56that we hire a professional designer.
02:58Then, there was an Arjun's sister in our college.
03:02So, they talked about Kirti.
03:04Kirti has done professional design.
03:05And Kirti agreed that they will handle Pro Bono Designing Park.
03:09So, they also shifted from Chandigarh to Amritsar.
03:11Oh, wow.
03:12So, they also developed designs with artisans.
03:15They made these bharatans,
03:16which they used to be made in Gurdwaro.
03:18So, they made modern utensils.
03:20So, they are so old.
03:21Pro Bono, Chandigarh, Amritsar,
03:24shift and they went to sit with them.
03:26I just graduated that year.
03:28Okay.
03:29And, like my brother was part of Inactus,
03:31and whenever I used to look at the kind of value they are creating,
03:34I was…
03:35It was mind-blowing.
03:36And this is what is special in Gurdwara in Gurdwara?
03:39It's not a Gurdwara, it's a town.
03:41It's a small town that is about 30-40 km.
03:44Gaurav, what's your name?
03:45I have done civil engineering in engineering.
03:47I am handling production here.
03:49I saw these utensils from Punjab.
03:52They are my utensils from home,
03:53but slowly they are going.
03:55When I visited the village,
03:56and I realized that this is an only craft in India,
03:59which is also listed in UNESCO,
04:01I felt like I have to do this.
04:04I have to go back to every house.
04:07What's your age?
04:08I am 29.
04:1028.
04:11And I am 14.
04:12What are your roles?
04:13I am CPO.
04:15I am COO.
04:16And I am CEO.
04:17We used to say,
04:18mommy, dadi, mother,
04:20in childhood,
04:21we used to say that.
04:22We never heard this story.
04:25Today,
04:26you have to reinvent it
04:28and reinvent it again.
04:33It's quite interesting.
04:34Do you see products?
04:36Yes.
04:37Yes.
04:39And your utensils are Tamba, Kansa,
04:40and Peetal are three utensils.
04:43Why do you have the name of Peetal?
04:45P-T-A-L, Punjab Thathera Art Legacy.
04:48What a joke.
04:49So, I am very fit in that way.
04:54Very nice.
04:55Lovely dessert.
04:56Tumblr is all good.
04:58That's our bestseller.
05:00We launched it and it was like all over the place.
05:03So, this one is Kansa.
05:04This is brass.
05:05It's tin coated.
05:07It's heavy.
05:09It's corrugated.
05:11Why are these?
05:12It's hammering.
05:13It's thak-thak.
05:14I've understood why it's not.
05:15It's a thathero.
05:16If you see a product in a machine,
05:18it's not a thak-thak.
05:20It's a thak-thak.
05:21It's a thak-thak.
05:22It's a thak-thak.
05:23What's your biggest thing?
05:25Water dispenser.
05:26What's your biggest thing?
05:27Water dispenser,
05:28which has contributed to 12% of sales.
05:30What's your price?
05:32It's a 3-liter price,
05:33which is the lowest price.
05:35$6,360.
05:36$5-liter price is $7,430.
05:39And $10-liter price is $9,500.
05:41For years and years,
05:43if you keep water in the morning
05:45and drink water in the morning,
05:46then your digestion improves,
05:48metabolism improves,
05:49immunity improves.
05:50You said 93% of nutrients are retained,
05:53whereas normal is 13%,
05:55so that normal is stainless steel.
05:57we've done a lot of lab tests,
05:59so we've made a lot of vegetables,
06:01we've made a lot of vegetables,
06:02we've made a lot of things,
06:03and we've made a lot of changes.
06:04Actually, I realized that
06:05if you have 2 grams of protein in 50 grams,
06:09then after making 1.8 to 1.85 grams of protein,
06:11after making 1.8 grams of protein,
06:13it was 1.85 grams of protein.
06:14When we made the same protein,
06:15when we made the rest of stainless steel
06:16or aluminum,
06:17it was 0.5 grams or 0.4 grams of protein.
06:22These are naturally non-stick.
06:23Yes, they are naturally non-stick.
06:25So, you don't need to add Teflon coating?
06:27It's not.
06:28Which is very poisonous.
06:29Which is very poisonous.
06:30Which is very poisonous.
06:31Teflon coating.
06:32Your main proposition is health benefits
06:34or style and looks?
06:36We have 3 types of customers,
06:37why do they buy us?
06:38First, the highest product is
06:40for health reasons.
06:41And they buy our cookware products.
06:43Number 2,
06:44the second product is the taste factor.
06:46There are many customers
06:47that when they cook in our utensils
06:49or they cook in our utensils,
06:50or they cook in tea,
06:52they make the taste of tea.
06:54And third,
06:55there are many customers
06:56who buy for looks.
06:57They buy dinnerware
06:58so that they can see
06:59in front of guests.
07:00And Kansa is the most important
07:02in our dinnerware
07:03because it's good to eat
07:04from Kansa.
07:05Sorry, you don't think
07:06that from a customer perspective,
07:07the price point is very high.
07:10Our brand is a proposition.
07:11It's a priority.
07:13You will get a lot of copper
07:15in the market,
07:16but it's not actually copper.
07:18Because most people
07:19do mixing or
07:20do not use pure copper
07:21or just put the coating
07:22and put the coating
07:23in the market.
07:24You have to be able
07:25to last a lifetime.
07:26You have told me
07:27how many kilos
07:28of this?
07:293 kgs.
07:30And how many kilos of copper
07:31of this?
07:32Rs. 950 per kg.
07:33That's for the grade A copper.
07:35So, 2700 or 2800
07:36of the raw material
07:37basically.
07:38Making charges
07:39in an institution.
07:41Your tagline is
07:42Transforming traditions
07:43into a trend.
07:44It doesn't mean anything
07:45to me.
07:46But,
07:47if you have
07:48health benefits,
07:49your customer profile
07:50told yourself
07:51that the customer
07:52has taken the number one
07:53for health benefits,
07:54they will be conscious
07:55of taking the quality.
07:56So, your tagline
07:57doesn't mean anything
07:58that you have
07:59100% grade A.
08:00No,
08:01if you have a product
08:02that is very expensive
08:03unless you make it
08:04part of your positioning.
08:05Many customers
08:06think that they have
08:07instant nostalgia
08:08connected.
08:09No, no, he's right.
08:10I have a little
08:11saymat
08:12by chance
08:13this one.
08:14He was watching
08:15the nostalgia
08:16but it doesn't need
08:17to tell you.
08:18It needs to tell you
08:19that there are
08:20health benefits
08:21to you.
08:22Your brand name
08:23is solid.
08:24Peter has a brand
08:25name, bird place,
08:26beautiful.
08:27Your tagline needs
08:28to be a little
08:29sharper.
08:30What's the price?
08:32This is for
08:332000,
08:341985.
08:35Wow.
08:36It's expensive.
08:37In this
08:38we have kept
08:39the pricing
08:40and all the unit
08:41economics
08:42and things
08:43made up.
08:44Did you say
08:45unit economics
08:46or Amit?
08:47No, no,
08:48tell us
08:49the first
08:50sales.
08:51When we started
08:52the sale
08:53in 2019,
08:54in 2021,
08:55it was 85 lakhs.
08:56In 2022,
08:57it was 2.76 crores.
08:58Last year,
08:592023,
09:00we ended up
09:013.98 crores.
09:02This year,
09:03we covered
09:04around 3.9 crores
09:05which is our
09:06last year.
09:07we closed.
09:08How much
09:09this year?
09:10This year,
09:11we closed close
09:129 crores.
09:13It's a festival
09:14and now
09:15we have funded
09:162 weeks
09:17before.
09:18We need to optimize
09:19a lot of things
09:20and our focus
09:21and goal is
09:22to scale
09:23which channel
09:24we can reach
09:25to that number.
09:26But this
09:27growth is not
09:28100%.
09:29It was a bootstrap.
09:30It was a bootstrap.
09:31It was a bootstrap.
09:32It was a bootstrap.
09:33Everything is online.
09:34We also have a retail outlet
09:35in Delhi.
09:36How much is it?
09:38There is now
09:39about 7 lakhs
09:40in the month.
09:41It's about 5-6 lakhs.
09:43In August 2022,
09:44we opened a store.
09:45At that time,
09:46our goal was
09:47that if you look
09:48at the market
09:49so many people
09:50want to buy offline
09:51and they have to see
09:52the market
09:53before purchasing.
09:54Is it the photo
09:55of where?
09:56Yes.
09:57This is our Delhi store.
10:00Nice.
10:01You are making
10:02a luxury brand.
10:03Basically,
10:04a premium luxury.
10:05Mass premium.
10:06Mass premium.
10:07Mass premium.
10:08Mass premium is not
10:09you.
10:10Mass premium is
10:11the entire market.
10:12Affordable luxury.
10:13Affordable?
10:14No.
10:15This is not affordable.
10:16Affordable luxury.
10:17This is only luxury.
10:18No, no.
10:19This is affordable.
10:20Who made you?
10:21Good Earth.
10:22No.
10:23Good Earth is not
10:24good.
10:25Double R prices.
10:26Double R prices.
10:27Double R prices.
10:28Double R prices.
10:29That is luxury.
10:30Affordable luxury.
10:31Let me ask you a question.
10:32Then I give you a offer.
10:33Do you make money
10:34or make money?
10:35We make money.
10:36How much money do I make money?
10:37So, if I have a unit economics
10:38rundown,
10:39then our net sale
10:40is 28% of the raw material cost.
10:4315% of the artisans
10:45we pay.
10:46So, 43% of the making
10:47is our making.
10:481% of the inward logistics
10:49that Amrit Sir
10:50from Chandigarh
10:51comes from there.
10:52So, 56% gross margin
10:54remains.
10:55After that,
10:562% of the payment
10:58gateway charges
10:59and everything
11:002% of the channel margin
11:01Shopify,
11:02marketplaces,
11:03commissions,
11:04everything.
11:051% of the packaging cost
11:06and 10% of the shipping.
11:07This is 10% average
11:08and 6% of the shipping
11:09and 30% of the shipping
11:10and outside India.
11:11So, after that,
11:12our CM1
11:13becomes around 41%.
11:14Not bad.
11:15After that,
11:16our 12% cost
11:17is only in the marketing
11:18so 29%
11:19remains CM2.
11:20After that,
11:215% rent and utilities,
11:2315% salaries
11:24and 3% miscellaneous
11:26one-time expenses
11:27and legal expenses
11:28and 6% positive EBITDA.
11:30What was the last month
11:31was the sales?
11:32The last month
11:33was our net sale
11:34was 72 lakhs.
11:35I offer you one offer
11:36because your round
11:38has been closed.
11:39You've never signed
11:40the term sheet
11:41yet.
11:42I don't have to get
11:43any money.
11:4450 lakhs
11:45at the same valuation
11:46as your last round.
11:48What happened?
11:49Percentage wise?
11:501.67%.
11:51Once again,
11:52you can understand
11:53the sales channels
11:54too.
11:55Our 45% sales
11:56come to India's website
11:57and 10% sales
11:58come to India's website
11:59from outside India's
12:00website.
12:01And these people
12:02have NRi's?
12:0370% NRi's
12:04and 30% NRi's.
12:06Got it.
12:078% sales come to
12:08marketplaces
12:09which includes
12:10Tata Click,
12:11Etsy,
12:12Okhai,
12:13LBB,
12:147% sales
12:15from Amazon India
12:16which we started
12:171 month ago.
12:18And there already
12:19our brass tag
12:20and Amazon choice
12:21without any ads
12:22or optimisation.
12:23Because people
12:24already search
12:25our category
12:26and search
12:27our options
12:28but they didn't
12:29get a brand.
12:30After that,
12:3120% sales
12:32came to our bulk
12:33gifting.
12:34G20 summit
12:35was also gifting
12:36and the rest
12:37of our retail
12:38outlet
12:39from Delhi.
12:40And for expansion
12:41two things
12:42to expand
12:43is that
12:44correct?
12:45If we talk
12:46short-term
12:47in the next
12:48five to six months
12:49our focus
12:50is only on
12:51D2C
12:52and Amazon.
12:53We focus
12:54D2C India,
12:55Amazon India
12:56and D2C US
12:57and Amazon US.
12:58Export is very important.
12:59And you're not going to do
13:00EBO expansion?
13:01We thought EBO
13:02is a very good model
13:03to expand
13:04but if we look
13:05in the next six months
13:06then our focus
13:07is D2C
13:08and Amazon.
13:09will bleed
13:10eventually.
13:11Who will scale
13:12so many products
13:13in D2C?
13:14If you don't export
13:15export
13:16and EBO
13:17and I will do
13:18D2C.
13:19If you have a big business
13:20in America
13:21or Europe
13:22you have a small market
13:23it blows up.
13:24I'm telling you
13:25that because
13:26we have built
13:27our entire business
13:28on NRI
13:29today
13:30we have 5,000,000 NRI
13:32visit us every month.
13:33It's a different level
13:34and you can do
13:35that
13:36our revenue
13:37per user
13:38guess
13:39what is it
13:40for NRI
13:41and for India?
13:42Average revenue per user.
13:43It's 7x.
13:44It's 7x.
13:457x
13:46So
13:47it's very necessary
13:48to break
13:49and we have cracked it.
13:50Absolutely.
13:51We agree
13:52because our price points
13:53which we have set
13:54internationally
13:55we have 85% gross margin.
13:56How much is your average
13:57order value in India
13:58and beyond?
13:59The average order value
14:00in India is around
14:014,500
14:02and outside India
14:03around 250
14:04What was your last valuation?
14:06We closed the term sheet
14:07in April
14:08with Titan
14:09and we raised
14:104.33 crores
14:12at a 25.25 crores
14:14free money
14:15and 29.58 crores
14:16post money
14:17and now
14:18we are asking
14:1950 crores.
14:20Now
14:22when we raised
14:23our sales
14:24were 35 lakhs
14:25and now
14:26we have almost
14:27doubled
14:2872 lakhs.
14:29The money is also
14:30right?
14:31The money is
14:32that we have used
14:33without the money
14:34we have grown
14:35and doubled
14:36Aritya Kirti Gaurav
14:3750 lakhs
14:38at 1.5%
14:39Thank you Aman
14:40for the offer.
14:41I matched
14:421.5%
14:43for 50 lakhs.
14:44I am also matching.
14:45I will match the offer
14:4750 lakhs
14:48at 1.5%
14:4950 lakhs
14:501.4%
14:5150 lakhs
14:521.4%
14:55Why do you copy
14:56people?
14:57Tell me
14:584 sharks
14:59matched their offer
15:00and copied
15:01Thank you sharks
15:04for the offer.
15:05It means a lot
15:06to us
15:07and also
15:08our artisans
15:09Don't do this
15:10now
15:11the most important thing
15:12will be
15:13if you come together
15:14all
15:15because
15:16when we have
15:17funded
15:19we have
15:20funded
15:21our motto
15:22was to
15:23reach people
15:24because
15:25in the past 6-7 months
15:26the help
15:27we have
15:28doubled
15:29that
15:30just because
15:31of the right value
15:32that we have got
15:33from everyone
15:34and our money
15:35never mattered
15:36so we would love
15:37to have all of you
15:380.2%
15:39What are you doing?
15:40Then you give it
15:41last round
15:42if you put your money
15:43where your mouth is
15:44you are giving so much
15:45knowledge
15:46take the money
15:47take the money
15:48yes
15:49take the money
15:50take the money
15:511 crore
15:52no
15:53that's a good deal bro
15:54don't
15:55you won't come
16:07okay
16:08Sharks
16:09deal
16:10deal
16:11Oh
16:12All sharks
16:14thank you so much
16:17here
16:18thank you
16:19we're going to have to
16:20our team
16:24Good kids, good team, like the founders.
16:54Good kids, good team, like the founders.
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