13x compared to what? One year back it started the journey. You start at 0. No matter where you end up at the end of a measurement period starting from 0, you can’t ascribe a multiple. Extremely poor reporting.
Zigly has many ingredients to be a fantastic business. Booming sector, people spending lavishly on pets, low and unorganized competition and above all timing is perfect – given present climate VC funded cash burning will be subdued so less likelihood of 5 startups turning up and handed cheques of 100 crore.
Website is decent. Merchandising, store layout all seems nice from the photos and videos. Team seem to have started well, though a bit too slow IMO. They should be upping the ante and using cash from Films to rollout faster and create a mass and cement first mover advantage. I would have liked them to achieve monthly revenue of 5 crore+ by Mar23. They seem likely to hit around 3+, given 60lakhs turnover in July.
If played well (incl slightly more aggressiveness) , Zigly has potential to command valuation equal to present Cosmo valuation in 3-4 years time, if they hit 500crore+ topline and are profitable. I believe there is a decent chance of that happening.
Disc : Invested and very impressed by Zigly play.
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