A Surat-based Start-up, BL Fabric, by Mayur Bharatbhai Gediya, specializes in providing affordable, high-quality lehenga cholis and other traditional Indian wear. BL Fabric’s primary product range includes unstitched cholis, semi-stitched lehengas, and ready-to-wear dupattas. BL Fabric is well-known for its innovative pricing and product offerings, intending to provide stylish, intricately designed clothing at a much lower cost than high-end alternatives. The prices of BL Fabrics are 65%-70% lower compared to the standard market prices. BL Fabric sells its products through its website and showcases and markets them on social media platforms like Instagram and YouTube. The business mainly uses its online platform, which frees it from the limitations of a physical store and enables it to reach a wide range of customers. By concentrating on an online model, BL Fabric has decreased the need for physical stores, which has led to lower overhead costs. As a result, the company is able to offer reduced prices.
BL Fabric’s appearance on Shark Tank India Season 4
The Sharks on the Shark Tank India show were impressed by BL Fabric’s strong Social media presence. BL Fabric has an Instagram followers of 8 lakhs and 22 lakhs subscribers on YouTube. BL Fabric’s monthly launches approximately 25 designs per month. The brand’s social media activities, which are essential to its growth and digital strategy, are managed solely by Mayur Bharatbhai Gediya. In this 4th Season of Shark Tank, BL Fabric’s founder pitched ₹1 Crore for a 2% Equity stake, valuing at ₹50 Crores. Sharks Ritesh Agarwal and Kunal Bahl offered ₹1 crore for 5% equity, with the option to lower their share to 4% if BL Fabric’s fiscal year 2024-2025 revenue exceeds ₹15 crores. Looking at records of BL Fabric’s last 3 years’ sales, the numbers presented for FY21-22 were ₹1.42 crores, FY22-23 – ₹1.85 Crores, FY23-24- ₹5.25 Crores with a growth rate of 183.8%. Net profit for FY21-22 were 4%, FY22-23 – 5%, and FY23-24 – 3%. The growth rate for FY 2024-25 (till September) is estimated to be 10%. Namita Thapar, one of the Sharks of Shark Tank India, pointed out that there is a Key Man Risk in BL Fabric’s business. Especially given the significance of its founder, Mayur Bharatbhai Gediya, in the company’s success. Key man risk refers to the potential negative impact on a business if an essential leader or key individual becomes unavailable due to unforeseen circumstances. Despite this, Sharks Ritesh Agarwal and Kunal Bahl conditionally offered ₹1 crore for 5% equity, with the option to reduce their ownership to 4% if BL Fabric’s fiscal year 2024-2025 revenue exceeds ₹15 crores.
Maintaining the Growth of the BL Fabric
The brand can grow steadily if the founder maintains its current pace. Although the brand has great potential, it must overcome operational obstacles and stay competitive while meeting customers’ expectations. Although BL Fabric’s growth statistics are quite amazing, the fact that Mayur is the only managing head of this apparel company may make future challenges difficult due to the lack of an established team.
