Artment is a home decor startup that got featured in Shark Tank India Unseen Episodes. Artment is founded by Aditya Agarwal and Story tells you about the artment review, the artment wall decor, the artment contact number, the artment wall clock, the artment clock, the artment store.
Artment is made of two words Apartment and Art. Artment is an online brand for your home and living needs. The team of this startup wants to meet your home decoration needs which include Glassware, Crockery, Pillows, and everything. You will be glad to know that Artment is completely made in India Brand. They want to give their manufacturers a global platform where they can showcase their skills and get the best value for that.
Whether a house is of 2 rooms or 10 rooms, We all want that whenever someone visits our house should say “Wow! What a great house“. When we look at the present time of Mass Production we observe that many designs look similar and people are also following one trend. This is the reason behind starting Artment.
Founders of The Artment | Aditya Agarwal
Aditya Agarwal and Aanchal Agarwal are the founders of Artment. They belong to Gurgaon.
Aditya Agarwal is of 26 Years and Aanchal is 28 Years Old. They belong to a business family and from the 8th standard, Aditya started sitting at the cash counter of his mom’s restaurant, From there he discovered E-Commerce.
When Amazon and Flipkart made their entry into Indian Market, Aditya started selling items in the wholesale market. He says that he has sold almost every product from Mobile Covers to Charcol Masks.
The story behind the beginning of The Artment
In 2016, When Aditya was in college 2nd Year. He started the company with her sister with an initial investment of Rs 20,000 and within 3 Years they made an annual turnover of 3 Crores which is a massive rise in monetary terms.
Aditya started visiting China and then they started importing products from China. In 2019, They realized that they are having good turnover and a great team of 50 People but they are only doing Ecommerce business and not building a brand. After This Artment and its team started analyzing their data and they came to know that Home and Decor was the category which was having Lowest RTO Rate ( Return To origin), Highest Consumer Returning, and Satisfaction Rate.
Beginning of Artment
Artment got started in 2019 officially. Aanchal who is the co-founder of Artment started her CA in 2012 and when she returned, she joined the company in 2019. Aanchal is taking care of Accounts and Finances in the company.
Products of Artment
The team of Artment displayed many products and you can also buy more than 600 products from their official website (Non Sponsored) or from any other online Marketplace.
- Average Cost of Product: 999INR
- Making Cost of Product: 150INR
USP Of Artment
The backend of a startup is revolving at the same speed as of market and they are having a fast approach towards it. Recently, They have set up a decision to launch 2-3 Unique Designs every week. However, they want to do more but due to inventory and resources limit, they are restricted.
They are having 0 Stock ready, Whenever a person places an order so they print that product and then ship them. They are working on Innovation in their products.
Designers of Artment
Artment is having designers all across India which are skilled in their art. For Instance, Raisins are designed in Moradabad and Designers are having that quality but not the platform to showcase it and monetize the same. This problem is also solved by Artment.
In Dec 2021, Artment was not having a 100% In House Design team. So when they use to get 100-200 Orders of a single article, They use to get a contract signed by someone outside in the market and also get assured them to not leak the design.
They want to get a 100% in-house design and production team so that they can quickly work on their new launch and also add more innovation to their products.
Sales and Market Acquisition of Artment
Artment clocked sales in the following years
- FY2017-18 – 0.96 Crores (96 Lakhs)
- FY2018-19- 20 Crores
- FY2019-20- 22 Crores
- FY2020-21- 10.75 Crores
Artment is having 80% of its Sales in D2C – Direct to consumers because they are working extensively on Content Creation and marketing which is attracting a large number of consumers directly.
On the other hand, Interior designers are also coming to them for their projects and they account for 20% of Sales. In these 20% Sales, Hotels and Corporates are also included.
Their main focus is always is consumers.
Net worth of Artment
The net worth depends solely on the profit clocked by the startup which turns out to be 20-22%. If we look into exact figures then we will find that 1 Crore is their takeaway cash to home.
- The global size of the Home decor market accounts for Rs 44 Lakh Crores.
- Indian Size of Home Decor Market Accounts for Rs 2.8 Lakh Crores.
- In the next 2 Years, This Indian Home Decor market is going to Double.
Artment is not one of the premium brands in the market because its average order value is of 2.5K only. However, they have sold products in every range from Expensive to Affordable.
Goal of Artment
- Artment wants to go D2C and Cross Border.
- When they launched their brand “ARTMENT” in UAE in 2020, They clocked revenue of 6000 Dihrams on the very first day which made the brand profitable in the least time.
What is ask of Artment and Valuation?
Artment has asked for Rs 1.7 Crores in exchange for 2.5% Equity. This makes the valuation of Artment to be Rs 68 Crores.
Artment has given artistic looks to over 55000 Homes, and They have asked sharks to join them in their mission of making normal homes for people into Artistic Apartments.
Sharks investing in Artment | Shark Tank India
Peyush Goyal on Artment
Peyush appreciated the team for its logo and its unique name, and he also added that this market is very competitive. If we go on Amazon and when we will search for art decor we will find 100 of the same products.
Offer: Peyush feels that this is a money-centric business rather than consumer-centric, which turns out to be a short-term game and he himself is a long-term investor. So he can join as a Mentor but will not invest in the company.
Anupam made his decision and before telling it he appreciated the team, and how well they managed the supply chain. He was unable to agree with the approach of Founders and was not able to digest the valuation so he made himself out from the pitch.
Anupam offered Rs 1 Crore Debt at 12% and Rs 70 Lakhs for 10% Equity.
This offer was declined by the team and they made a counteroffer of Rs 1,7 Crores for 5% Equity. After hearing this Anupam closed the file and said that He made a fair and generous offer.
She made herself out from the pitch of a startup because after observing the market and watching the products, she was unable to spot any uniqueness.
Vineeta got impressed with the gross margins of the product, but she made herself out because she is not able to work on exports and corporate orders. She suggested they make the company reach 100 Crores without any funding.
Ghazal congratulated the team but said that Category understanding is not well-researched by the team. She will not be able to invest in the startup.
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This was one of the most amazing pitches of Shark Tank and You will be amazed to know that this pitch was not aired on Sony Channel. This is only available on Sony Liv App.