The Tale Of Chikankari
House of Chikankari is an ecommerce brand that was founded by a mother and daughter duo Poonam and Aakriti Rawal with a vision to revive and promote the traditional art form and make it more accessible to younger generations. Despite several challenges, including tough decisions to maintain profitability, we never lost sight of our passion and dedication.
How were the last 12-15 months for you as an entrepreneur and House of Chikankari?
Firstly, we managed our cash flow effectively by being cautious with our spending and negotiating with suppliers and vendors for better payment terms. Secondly, we embraced digital transformation by digitising our operations and leveraging social media for customer engagement. Finally, we built resilience by diversifying our products into menswear and exploring new markets.
Overall, while the last 12 months have been challenging for startups in India, those who were able to adapt and innovate have emerged stronger and more resilient.
What is the leadership approach that allowed you to perform better than some of your peers?
As the CEO of our company, I understand that leadership is not just about running a successful business, but also about building a community of individual leaders within our organisation.
Inspired by Indra Nooyi's quote, just because you are CEO, don't think you have landed. You must continually increase your learning, the way you think, and the way you approach the organisation. I've never forgotten that.
How did last year pan out in terms of revenue targets?
We have surpassed our expectations and registered 600 per cent growth compared to the previous year, closing at a gross revenue of almost Rs 20 crore in FY 2022-2023. Looking ahead, we remain committed to our growth and expansion plans. We are focused on enhancing the customer experience, strengthening our e-commerce presence, and diversifying our product offerings while continuing to prioritize quality and customer satisfaction.
Tell us about your funding status and your plans for the future.
At House of Chikankari, we are proud to have been bootstrapped until December 2022. However, in January 2023, we raised our first round of funding on Shark Tank Season 2, securing Rs 75 lakh at a Rs 20 crore valuation for 3.75 per cent equity from Aman Gupta, boAt and Peyush Bansal, Lenskart.
What were the early-stage challenges you faced in your journey?
One of the primary challenges we faced was working in an unorganised industry where standardisation in quality and pricing was lacking. Another challenge we faced was educating customers about the art form of Chikankari. We took it upon ourselves to spread awareness, while also making it relevant and appealing to a modern audience.
What are your focus areas for the year ahead?
Our primary focus is to streamline our operations both online and offline. Additionally, we plan to expand our e-commerce presence and increase our visibility on marketplaces to reach more customers. We also aim to diversify our product offerings while continuing to focus on Chikankari kurtas for women and expanding our menswear collection
