Biography of Raghav Goyal: Founder & CEO of Zillionaire- Entrepreneur
Biography of Raghav Goyal:
Raghav Goyal, a teenager from Jaipur, has become a shining
example of entrepreneurial spirit, turning his love for hip-hop culture into a
successful jewelry business. At just 18 years old, he co-founded Zillionaire, a
brand that designs bold, iced-out jewelry inspired by the bling worn by rappers
and celebrities. What started as a personal interest during the first wave of
the coronavirus pandemic has evolved into a lucrative business with aspirations
to go global.
The Birth of Zillionaire
In 2020, Raghav, still a student, noticed a gap in the
market for the flashy, customized jewelry often seen on hip-hop artists. The
jewelry that Raghav admired was unavailable in India, so he decided to take
matters into his own hands. After discussing his idea with a friend whose
family was in the jewelry business, Raghav teamed up to launch Zillionaire.
Their goal was to create high-quality, urban-inspired jewelry that blended
traditional craftsmanship with modern design.
The Brand's Unique Appeal
Zillionaire offers a range of jewelry pieces, including
chains, bracelets, rings, earrings, and even AirPods cases made from precious
stones. What sets Zillionaire apart is its ability to cater to both traditional
and urban cultures. By integrating traditional jewelry-making techniques with
hip-hop-inspired designs, Zillionaire has successfully attracted a younger
audience, particularly Gen Z and millennials, who appreciate the bold and
unique style.
The Influence of Celebrities
Zillionaire’s rise to popularity was accelerated by its
association with Bollywood celebrities and influencers. Filmmaker Karan Johar,
actress Malaika Arora, and singer Raftaar are just a few of the well-known
personalities who have been spotted wearing Zillionaire’s jewelry. This
celebrity endorsement helped the brand establish itself in the Indian market,
and it soon started receiving orders not just from India, but from across the
globe.
From Humble Beginnings to Global Aspirations
The company’s growth has been nothing short of impressive.
Despite starting out during a global pandemic, Zillionaire’s direct-to-consumer
(DTC) model has been highly successful. Raghav and his partner, Aaditya
Fatehpuriya, have scaled the business to earn more than Rs 20 lakh a month.
With a clear vision to expand globally, Raghav dreams of taking Zillionaire to
international markets, especially the United States, Dubai, and the United
Kingdom.
Raghav's Journey to Success
Raghav’s success is a testament to his determination and
business acumen. At just 18, he built Zillionaire while balancing his studies.
His entrepreneurial drive caught the attention of Arjun Vaidya, founder of Dr
Vaidya’s, an online Ayurveda brand. Vaidya was impressed by Raghav's
preparation and focus, even noting that Raghav arrived at meetings early and
well-prepared, showing a level of commitment beyond his years. This dedication
has been a key factor in Zillionaire's rapid growth.
Biography of Raghav Goyal: Founder & CEO of Zillionaire- Entrepreneur/age/net worth/investor/startup/ hip-hop-inspired jewelry brand/Zillionaire story
Zillionaire's Bold Marketing Strategy
The brand's bold and edgy marketing style has been central
to its success. Zillionaire’s tagline, “Welcome to the Ice Age,” captures its
essence—every piece of jewelry is designed to be “iced-out,” meaning it is
encrusted with tiny stones for a sparkling effect. Zillionaire has cultivated a
strong social media presence, particularly on Instagram, where it has amassed
over 56,000 followers. The brand’s marketing strategy is focused on creating a
sense of exclusivity, targeting a niche but loyal audience of fashion-forward
individuals.
The Shark Tank Pitch
In a move that would further propel Zillionaire into the
spotlight, Raghav and Aaditya appeared on Shark Tank India Season 2, where they
pitched their business to the investors. They asked for INR 50 lakhs for 3.3%
equity, valuing their company at INR 15.15 crore. Despite a few moments of
confusion regarding production capacity, the entrepreneurs impressed the sharks
with their bold pitch and impressive growth figures, including a 554.5%
increase in sales over the past few years.
The Sharks' Response
The sharks were impressed with Zillionaire’s potential,
though not all of them were ready to invest. Namita, one of the investors,
decided to pass on the opportunity, citing concerns about the brand’s high
average order value and limited target market. However, Anupam Mittal, the
founder of People Group, was intrigued and offered them INR 1 crore for 10%
equity, which valued the business at INR 10 crore. This offer was a significant
reduction from the original valuation, but it was enough to get the founders
excited about the possibilities.
The Combined Offer from Other Sharks
Meanwhile, other sharks, Aman Gupta, Peyush Bansal, and
Vineeta Singh, decided to make a joint offer. They proposed INR 50 lakhs for
10% equity, valuing the company at just INR 5 crore. While the founders were
initially hesitant, they saw potential in the combined offer and began weighing
the pros and cons of each deal. Ultimately, Anupam’s single offer proved to be
the most appealing, and the founders chose to go with him.
Choosing Anupam Mittal as the Investor
Raghav and Aaditya’s decision to accept Anupam’s offer was a
turning point for Zillionaire. Despite the lower valuation, they believed
Anupam’s expertise and network would help the brand scale quickly. Anupam’s
investment was crucial in giving Zillionaire the resources it needed to expand
further and reach its global ambitions. His involvement also added credibility
to the brand, opening doors to new partnerships and opportunities.
Zillionaire's Rapid Growth and Future Prospects
Since securing the deal with Anupam Mittal, Zillionaire has
continued to thrive. The company’s sales grew dramatically from INR 11 lakh in
FY 2020-21 to INR 72 lakh in FY 2021-22, with projections indicating sales
could exceed INR 2 crore per month in the near future. The brand has become
profitable and continues to attract attention from international markets.
Raghav’s vision of turning Zillionaire into a global lifestyle brand is
becoming a reality, with plans for expansion into international markets like
the US and Dubai.
A Bright Future for Zillionaire
As Raghav prepares to study product design at the
prestigious Parsons School of Design in New York, he is focused on using his
education to refine Zillionaire’s designs and expand its global reach. The
company’s unique blend of jewelry and street culture, combined with its strong
digital presence, has set the stage for continued success. Zillionaire’s story
is a reminder of the power of passion, preparation, and boldness in turning an
idea into a thriving business.
A timeline based on the journey of Zillionaire and Raghav
Goyal:
2020 – Raghav Goyal co-founds Zillionaire, a
hip-hop-inspired jewelry brand during the COVID-19 pandemic.
2020 – Zillionaire offers customized, iced-out jewelry
catering to both traditional and urban cultures.
2021 – The brand gains popularity, attracting Bollywood
celebrities like Karan Johar and Malaika Arora.
2021 – Zillionaire reaches Rs 20 lakh in monthly earnings,
expanding globally with a direct-to-consumer model.
2022 – Raghav pitches Zillionaire on Shark Tank India,
seeking INR 50 lakh for 3.3% equity.
2022 – Anupam Mittal offers INR 1 crore for 10% equity, and
Raghav accepts, valuing the company at INR 10 crore.
2022 – Zillionaire’s sales grow from INR 11 lakh (FY
2020-21) to INR 72 lakh (FY 2021-22).
2023 – Plans to expand to international markets, with
projections for INR 2 crore per month in sales.
2024 – Raghav prepares to study product design at Parsons
School of Design, New York, to refine the brand's global vision.
