Baby jewellery brand BabyWorks by Swapnil featured on Shark Tank India, where founders Shrey Khandelwal and Swapnil presented their vision of building a custom-first baby jewellery brand focused on design, safety, and personalisation.
During the pitch, the founders highlighted that BabyWorks operates in a niche yet growing segment of the jewellery market, offering baby-focused products such as kadas, brooches, nazariyas, and fully customised pieces. A key differentiator is its 3D baby jewellery customisation tool, which allows parents to personalise designs before purchase.
The brand was started in 2021 by Swapnil Anuj Gupta and Shrey Khandelwal and currently operates under a sole proprietorship structure. On the show, the founders shared their plans to restructure ownership into an equal 50:50 equity split between Shrey and Swapnil going forward.
Entering the Tank, BabyWorks sought ₹60 lakh for 4% equity, valuing the company at ₹15 crore.
The founders revealed that the business operates entirely through its own website. The brand reports an average selling price (ASP) of ₹4,000 and an average order value (AOV) of ₹8,000. Marketing spends currently stand at 29–30%, while COGS is 27%.
In terms of materials, BabyWorks works with 925 silver and gold (14K, 18K, and 22K). Silver products follow a fixed pricing model, while gold jewellery is priced dynamically based on weight. Currently, silver contributes 90% of revenue, with gold accounting for the remaining 10%.
Financially, the company reported ₹35 lakh in revenue in FY23–24 with a 16% EBITDA margin, followed by ₹75 lakh in FY24–25, with margins improving to 35%. Annual sales have crossed ₹1.02 crore, and the founders project ₹1.95–2 crore in FY25–26, while maintaining EBITDA margins of around 35%.
The founders also outlined their expansion roadmap, including plans to launch on quick commerce platforms and open a Mumbai-based experiential store by August 2026. As per the founders’ estimates, the overall Indian jewellery market stands at ₹6 lakh crore, while the Indian baby jewellery segment is pegged at ₹18,000 crore.
After negotiations, Aman Gupta closed the deal by investing ₹60 lakh for 6% equity, revising the company’s valuation to ₹10 crore.
