
Shoegaro Fashions Pvt. Ltd.
A platform to connect artisans making low waste handmade footwear with demand centres across India.
Date | Investors | Amount | Round |
---|---|---|---|
N/A | Convertible | ||
Total Funding | 000k |
USD | 2021 | 2022 |
---|---|---|
Revenues | 0000 | 0000 |
% growth | - | 100 % |
EBITDA | 0000 | 0000 |
Profit | 0000 | 0000 |
EV | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x |
R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Shoegaro Fashions Pvt. Ltd. is a social enterprise based in Agra, India, operating as a B2B sustainable footwear manufacturing startup. The company was incorporated on July 4, 2019, by co-founders Ankit Kumar (CEO), Gagan Mukhi (COO), and Dr. Hifza Afaq (CMO/CTO). Ankit Kumar brings over 14 years of experience in sales, marketing, and entrepreneurship, including work as an e-commerce consultant in the footwear industry, while Gagan Mukhi has a background in footwear manufacturing. Their collective experience in Agra's prominent shoemaking hub exposed them to the challenges faced by local artisans, motivating the establishment of the company.
The core mission of Shoegaro is to preserve the traditional art of handmade shoemaking and improve the livelihoods of footwear artisans, many of whom were displaced by industrialization. The company has built a network of over 250 artisan families, including women, providing them with consistent orders, skill development, and access to modern technology and tools to enhance their craft. Shoegaro operates primarily through its B2B platform, Karigar Mandi, which connects these micro and small footwear manufacturers with bulk buyers. This model addresses inefficiencies in the supply chain by offering a large variety of designs, ensuring quality, and providing supply chain visibility. The platform digitizes the artisans' products and inventory, giving them access to a wider market and connecting them with financing opportunities to manage cash flow and invest in their businesses.
Initially launched with a direct-to-consumer (D2C) and B2C model, the company pivoted to a predominantly B2B focus following the impact of the COVID-19 pandemic. This strategic shift was supported by a $50,000 funding round in November 2020 from Upaya Social Ventures. Shoegaro has also received support from incubation programs at IIM Calcutta Innovation Park and CIIE.CO IIM Ahmedabad. The company's revenue model is based on the manufacturing and sale of footwear, including products made from plant-based and recycled materials, to businesses across India. For the fiscal year ending March 31, 2024, Shoegaro Fashions reported a revenue of ₹2.14 Crore.
Keywords: B2B footwear manufacturing, handmade shoes, artisan empowerment, sustainable footwear, social enterprise, circular fashion, Indian footwear industry, Agra shoemaking, Karigar Mandi, supply chain solutions, artisan marketplace, ethical manufacturing, skill development, micro-manufacturer network, e-commerce footwear, impact investing, footwear artisans, leather goods, direct-to-consumer, social impact startup