Warm Welcome to Article on Urban Monkey Shark Tank India is here. This startup got featured in episode 23 Shark Tank and this article will aim on urban monkey, urban monkey net worth, urban monkey franchise cost, urban monkey founder, Yash gangwal net worth.
What is Urban Monkey?
| Company | Urban Monkey |
| Founder | Yash Gangwal |
| Business Category | India’s OG Streetwear label and Fashion Industry |
| Funding asked | 1 Crore rupees in exchange for 1% Equity |
| Funding Granted | No deal happened |
| Investors | No deal happened |
| Episode | 23 |
| TV Show | Shark Tank India |
| Net Worth | 2.5 Crores |
They started their pitch by singing rap and doing beatboxing. Yash is the founder of the fashion brand Urban Monkey. Urban Monkey is a brand that visions building a community for the future. Thye is the dreamers, believers, hustlers, and game-changers. Urban monkeys regard itself as the OG Street Wear label in India.
They have started back in 2014 with Caps, Wallets, and Shirts. Today they are having 10+ categories and more than 500 products in their catalog.
Buy Urban Monkey Products
If you are interested to buy Urban Monkey products then you can buy directly from their websites as they sell their products only o their website, not anything marketplace.
What is Urban Monkey’s ask for funding from Sharks?
Urban Monkey is a well-established growing brand in India and its problem is that its stock is always sold out. They asked for the amount of Rs 1 Crore from Sharks in exchange for 1% Equity. You will be surprised to know after the valuation of this fashion business as it is Rs 100 Crores.
QnA | Sharks asking Urban Monkey | Shark Tank India
Yash is born and brought up in Hong Kong later he shifted to India. When he first time came to India at that time he joined a skateboarding group on Facebook where he got to know the products which were not available in India like Bomber jackets funky caps etc. Yash identified the market gap of products that youth highly desired.
When Urban Monkey started making caps at that time no other player was in the market and the Caps business in India was being run by old-school retail distributors.
How pricing is done for products?
Peyush Bansal (Shark ) asked Yash for the pricing of the specs he was holding in his hand. Yash explained that they sell the specs for Rs 1200 and the cost price for the same is Rs 140 as they import the raw material from China.
What is the sales split of Urban Monkey?
The eyewear category holds the sales split of 30%, Caps account for 40%. The
What is unique in Urban Monkey from Bewakoof?
Yash said that they make products that are not only Drip in looks but they also have some unique functionality in the same and said that Bewakoof is targeting other audiences. Bewakoof designs quirky clothing and Urban Monkey designs Drip. Drip is a vibe that you feel after wearing the clothes.
Why They do not sell on Marketplace like Amazon and Flipkart?
At the start of their business, they used to sell their products on the marketplace for 3 Years but there were many speculations and instability was there as SEO plays a key role. Today 30% of their sales come organically by searching on Google.
Why they have not cracked something till now?
In the initial years, Yash was only managing the whole marketing operations in India and he did not get the expected response from Flipkart and Amazon. When he decided to go on his marketplace then the actual brand-building started. He claims that actual growth started in 2016 before it flatlined.
Urban Monkey Networth, Sales, and Profits.
Here you come to the most exciting part of the article as here we are going to disclose the numbers. This OG Streetwear label made a sale of Rs 5 Crores in the financial year of 2021-22 till date and they will end this number at Rs 12 Crores. Last year they made sales 0f Rs 3.4 Crores. They will make this number more interesting by clocking at Rs25 Crores next financial year (2022-23).
They are a profitable business last year they made a net profit of 15% and this year the same is 25% which will be Rs 3 Crores.
1:1 | Sharks investing in Urban Monkey | Shark Tank India
Anupam Mittal
He said that he was very much interest in this fashion startup but after hearing about expanding to watches he stopped watching in this. Anupam is out for this reason.
Vineeta Singh
She does not see this startup much interesting as a huge inventory will be required so her 1 Crore will be stuck there. For this reason, Vineeta Singh is out from this Pitch.
Peyush Bansal
He said that he wants 50% of Urban Monkey on the condition that Yash will not start anything new until this startup clocks at Rs50 Crores. Peyush will help Urban monkey in the eyewear section and will clock 100 Crores in 2 Years.
Peyush’s Offer- Rs 5 Crores for 50% Equity
Orignal Ask- Rs 1 Crore for 1% Equity.
Aman Gupta
Aman is very much interested in his caps business and the car market of India is crazy. He wants to make Urban monkey only focus on Caps and eyewear.
Ashneer Grover and Aman Gupta
Aman teamed up with Ashneer and offered him Rs 1 Crore for 10% Equity. Peyush also matched this offer but he wanted to do this solo.
Counteroffer from Yash Gangwal
Yash offered them Rs 1 Crore for 1.33 Percent over the valuation of Rs75 Crores.
Peyush made himself out after listening to this counteroffer
Yash again tried one counteroffer to Aman and Ashneer. He offered Rs 1 Crore for 1.53% on the valuation of 65 Crores.
Aman and Ashneer rejected this offer.
Hence Urban Monkey was unable to grab funding from Shark Tank India.
FAQs
What is the net worth of Yash Gangwal?
Yash gangwal’s networth is Rs70 Lakhs.
Who is the founder of Urban Monkey?
Yash Gangwal is the founder and owner of this fashion brand.
Urban monkey belongs to which country?
This brand belongs to India and the founder Yash Gangwal belongs to Hong Kong.
Where to Buy Urban Monkey Sunglasses?
You can buy sunglasses from urban monkey from their website Urban Monkey®: New Age Indian Streetwear Clothing Brand
What is the franchise cost of urban monkey?
Their franchise investment lies between 2 to 5 Crores
Turnover of Urban Monkey?
The annual net worth and turnover of Urban monkey is 12 Crores.
You can read out these Biographies of Sharks here
- Aman Gupta Biography
- Ashneer Grover Biography
- Vineeta Singh Biography
- Anupam Mittal Biography
- Peyush Bansal Biography
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