What is Rashki?
Rashki is a sustainable fashion startup that aims to build India’s largest vegan leather brand. The company's focus is on providing affordable, stylish, cruelty-free, and sustainable alternatives to traditional leather products.
Rashki offers a wide range of vegan leather products including handbags, backpacks, and wallets. Their products are made from high-quality, eco-friendly materials that are cruelty-free and sustainable.
The founders of Rashki - Shivani Popat & Rahul Jain, and Rustam Choudhary - are experienced entrepreneurs with a strong background in scaling businesses, marketing, sales, and operations. Their expertise in their respective domains makes them the perfect team to lead Rashki.
Why this Industry?
The global handbags market is $62.04bn in 2022, with a CAGR of 5.35% (2022-2026). The leather goods industry in India is worth ₹ 70,000 Cr, of which ₹ 29,000 cr is bags and luggage. There is a growing demand for sustainable and vegan alternatives, especially among urban Indian women aged 20-35 years. Rashki is on a mission to save 1 million animal lives by 2025, and with the expansion of retail and online distribution landscape, there is a significant opportunity for the company to grow.
Rashki's TAM is the Indian market for vegan leather handbags and accessories, which is valued at ₹ 29k cr.
Why Now?
We believe that the shift towards sustainable and eco-friendly lifestyle choices, coupled with the increasing adoption of online channels for consumer goods, presents a strong opportunity for the adoption of Rashki's products. The founders' experience, coupled with the positive feedback received from customers, makes us optimistic about the company's growth potential.
Why we invested?
Rashki has achieved impressive growth in a short span of time with attractive margins. The founders have a deep understanding of their target audience and have built an engaged community at zero cost. We believe that Rashki's mission, innovative approach, and experienced team.