Monday for hair.
Tuesday for skin.
Wednesday, this one I have to eat.
Medicine for headache.
Medicine for sore throat.
Medicine for everything.
Ever thought
how does these medicine affect your body?
One out of 12 people in India
suffers from diabetes or pre-diabetes.
One out of 5 girls have PCOS or PCOD.
There's a say in English that
every disease starts at the gut.
But let me tell you today
every disease can end at the gut too.
And that's why 'Namhya' was born.
Greetings, Sharks. I am Ridhima
founder of Namhya Foods, Jammu Kashmir.
- Namhya Foods.. - Nice.
India's first ayurvedic brand
in preventive healthcare segment.
We make tea blends, breakfast cereals, lattes
that can easily blend in your busy schedules.
No preservatives and directly directly from farmers.
These formulations are my grandfather's
who was active since 1937.
We aim
to become India's first ayurvedic brand
which is internationally known and trusted.
And I need your help for the same
I am asking for 1 crore for five percent of my company.
- Wow! - Wow! 20 crore evaluation!
Yes. So sharks are you ready
to go back to the roots with Namhya?
What does 'Namhya' mean?
I practiced spirituality two to four years ago
I practice Buddhism and there's a verse called
- 'Nam myoho renge kyo.' - Right.
And it changed a lot in my life.
- So it's from 'Nam myoho'. - Wow!
And I get really good reviews.
10 years down the line
I'll make it a human
consciousness brand. - Very nice!
Let's talk about small businessman like me.
- Tata tea sells on Tata branding. - Yes
- And loose tea is also available. - Yes.
You are forcing a brand.
Despite of good packaging, branding, a good message
but I want to tea.
Be it loose or packaged. No big deal.
I researched.
People consume tablets for diabetes.
Those having joint pain prefers Ayurveda.
And I realized that people don't want powders
they can't comprehend complexity.
Namhya simplifies it all
and presents such a way that you use in regular lifestyle.
You have guests, let's serve
'kashmiri' kahwa or liver cleansed tea.
Is the product differentiation taste of tea
or medicinal benefit of tea?
Medicinal benefit of tea, any day.
Can this be copied?
It's a trait secret. It's difficult to copy.
And it has tricky sourcing.
You can't really verify original
Ashoka Chaal among the fake ones.
What is Ashoka Chaal?
- It's an Ashoka tree. - Okay.
- It's bark is called 'chaal'. - Okay.
This ingredient is in our periods tea blend.
Having irregular periods
just strengthen the uterus, fundamentally
- and balance the hormones.. - Okay.
You'll have regular cycle.
How long does it take to give results
as per your core preposition?
It is resulting in three weeks for some.
People call up and say they have regular periods.
Are you really telling me
that 50 percent of the women
who suffer from period pain and PCOD
can cure it with Ashoka bark?
- Women are getting cured. - Impossible!
Do you have any proofs?
It sounds as if why have ashwagandha.. - Yes.
Did lab verify or presented certification?
Just because we're modernized and need proofs!
Ayurveda is an old science, can't be proven.
I am not investing in you.
- Let her pitch. - Let me tell you.
Our customer testimonials speaks for itself.
They are anecdotal.
But Ayurveda does help.
You obviously won't show
reviews that have negative comments about it.
I will get live people who'd got results.
How many people claimed having
regular cycle with your product?
Almost every girl we call back.
How many girls have you spoke to?
I don't have a number but it is more than 100.
You mean, 100..
It's something serious that you're claiming.
Yes. I claim it.
I think, it is a tall claim.
- My mom is a pre-diabetic. - Yes.
Tell me if she can get normal
using your product?
- If yes.. - Yes.
Then I'll buy them all.
It is impossible.
You'll get the results but gradually.
- Impossible. - Possible.
Ayurvedic tea does affect.
Just to support my number
on my website which is 36 percent of my sales
any guesses how many are repeat customers?
- You tell us. - 15 percent?
- 50 percent. - Wow!
- That's a good number. - Exactly my point.
It's a good product.
Your attitude, passion, style
confidence is par excellent but what's your problem?
I've wasted time in pitching platforms.
And there's so much of listing fear.
And talking about performance marketing..
2.5 percent of ROI..
You have to be very smart with your actions.
I can understand.
You are smart.
Keeping aside your product.
How much have you invested in it?
About 20-25 lakhs.
How much is the manufacturing cost?
Including operation cost, it comes around Rs.125.
Your sales?
In last 6 months, it's about 54 lakhs.
- In last month? - 16 lakhs.
Your net profit margin?
34 percent.
- I have an offer for you. - Okay.
- I've last two questions. - Shoot.
Why do you need 1 crore?
I'll tell you.
Hire 2 experts for mid management level.. - Come on.
Listen, I need two resources for marketing and BD
- I need you guys.. - You can just say 'you.'
It's easier.
- No, she means me. - Me.
She means me.
- Listen. - Yes.
- Second question is.. - Yes.
- Why no loans yet? - That's because
it's not really about the money.
It's about a strategic partner
who can come in at times
give inputs and leave.
It's also about
having brains that can work on things. - Yeah.
I come from a very traditional family business..
- Got my answer. Thank you. - Okay.
I'll tell you my decision.
I'm not interested in health.
But when I scroll Instagram
I come across 20 such products every day.
Because you need it.
Doesn't matter.
- But.. - I am not disagreeing.
- I mean.. - Try once and tell me.
- Not a big deal. - Okay!
Market is a market and in India, taste rules.
Secondly, I've evaluated brands previously
5-6 crore of maximum annual sale.. - Okay.
They get stuck.
I don't find scalability.
It is a commoditized segment for me.
Can't see any break-through brand so far.
So I am out.
A commodity business is something
where a product is sold in kilo or meter.
Regardless
of the suppliers.
You prefer the cheaper rate
which makes brand making difficult.
I've also decided.
I think, Ashneer is right.
Uniqueness will be an issue and 1-2 crore won't be enough.
Distribution will play a vital role. - Correct.
So I am out.
- Aman, you had an offer.. - I'll talk to you.
This is an entrepreneur bet now.
As an entrepreneur
you're enterprising with passion
conviction and pitching skills are incredible.
But I've problem with lies.
Give an offer to become a shark.
Thank you. I didn't know you've started a
shark-coaching centre..
- Well-said! - Very good.
So, we'll give you an offer.
We'll do this together.
We'll do this together
because she knows D2C well.
And I understand technology business very well.
Right? And I think you'll need both.
Yes.
So, the offer is
that we don't feel you need, Rs. 1 crore as equity.
We'll give you a loan of, Rs. 50 lakh
and give you, Rs. 50 lakh as equity
but we need 30 percent of your company.
Okay.
Ashneer is out of this.
- Why are you.. - I..
- He is.. - I'm explaining his maths.
- Are you serious? - He is a calculator.
- When you say you're out.. - When you say we're out
- we join the entrepreneur. - Sir, thank you.
Well, even you'll come across deals.
I'm sure you'll help me in my deals.
Come on, make her an offer. You crack a lot of jokes.
- Make her an offer. - Fine.
I don't want to loot you.
I'll not ask for 30 percent.
I agree that you need, Rs. 50 lakh as equity.
I'll give you a debt of, Rs. 50 lakh.
But I just need 15 percent.
Oh!
Really?
Let me tell you that you'll come across deals..
This is a great offer.
Sir, I have a counter offer to make.
Who are talking about? Aren't you giving us an offer?
- I'm talking about him. - Yes, go ahead.
- What about us? - I'll talk to you.
Okay.
So, can we do it..
7 percent.
Oh!
How much did I ask for?
- You asked for 15 percent. - How much are you offering?
I'm saying 7 percent.
Fine, I'll meet you in the middle.
Let's do 12 percent.
Tell me, 12 percent is my final offer.
- It's a good deal. - Yes, it's a great deal.
Let me tell you that we're not matching this.
Effectively, you've got a valuation of, Rs. 4.25 crore.
I mean, I can't go below, Rs. 12 crore of valuation
because..
Rs. 12 crore.
- Yes. - Do you have an offer?
Because..
Because, there is somebody..
You never talk about this in the beginning.
I have no idea why somebody is offering you, Rs. 12 crore.
But.. - Ma'am, there are reason for it.
Nobody gives money without a reason.
Ridhima, I'll give a last option, okay?
- No negotiation. - Okay.
Rs. 50 lakh as debt.
- Rs. 50 lakh as equity. - Okay.
But I want 10 percent.
You're left with only one offer now.
Because we're out.
Well, we didn't needed your offer.
Yes, talk to me.
You only have two option.
You just have say 'Yes' or 'No'.
You're getting a valuation of, Rs. 5 crore.
- And a debt of, Rs. 50 lakh. - Absolutely.
Ridhima, I think this is the top valuation.
- There is nothing more than this. - A bird in hand
is better than two in bush.
Just take the deal.
Fine, can I do a last counter offer? - No.
- Let him say that. - Yes, you can.
- It's my wish to reject that. - Let's..
Let's do, Rs. 50 lakh in debt. Rs. 50 lakh in equity.
And close it at 8 percent.
- You were at 7 percent. - Yes.
- I was at 15 percent. - Yes.
I've come down to 10 percent now.
That's what I'm saying.
I just want you do come down 2 percent more
- and accept. - No. I..
He doesn't take down his headphones below 10 percent.
- He doesn't listen to that offer. - Yes.
You're a good entrepreneur
and an entrepreneur must save his equity.
But an entrepreneur shouldn't be
penny wise and pound foolish.
You shouldn't care about small things.. - I agree to this.
You can't leave something big for that.
Here you go. Are you coming?
- Or should I tear this? - No, just a second.
- Give me a second. - Come here or I'll tear this.
- Just a second.
Sir, let's end this at 8.5 percent.
This is not going well.
- I can't do this. - A vegetable market.
- Do you want to call someone? - No, I don't want to.
- I'll make the final decision. - Well done.
10 percent..
Okay, I'll take a minute. Let me just think
and I'll come back in a minute.
- Unbelievable! - You're so kind.
She is the real shark.
She is taking you for a spin.
She must accept this offer blindly.
She shouldn't think about this.
I think you shouldn't go down below 10 percent.
No, I'll not. I just refused it.
Absolutely.
She was just negotiating.
It is her duty.
What do you expect from her?
Not a bad idea.
I think, let's do it.
- Yeah! - Yes!
Wow! Well done.
Very good decision.
- Congratulations. - Congratulations.
Welcome to the team.
- Let's do it. - Yes.
Thank you.
- Let's do it. - All the best.
- Thank you. - Good job, a good decision.
- Everyone, thank you. - Thank you.
- Bye.. - Bye.
'Urban Monkey'.
Let's do it. Send in the monkey.
I'll say this before the pitch that I don't invest on monkeys.
Silence!
"Break it down."
"One."
"Two!"
"One beat."
"Shark.. Shark Tank."
Oh!
- Thank you. - Guys, good energy.
- Superb! - Awesome.
That was good. You set the stage on fire.
Guys, thank you.
Sharks, hi. My name is Yash.
Welcome to Urban Monkey.
- Relax. - Yes.
I've lost it.
- Take your time. - Yeah.
Do you want water?
All good. Thank you.
Can I start again? Is that fine?
- Yeah.. - Yeah, okay.
Guys, I'm sorry.
Sharks, what's up?
Welcome to Urban Monkey.
Urban Monkey is such a kind of brand
which has a vision of building a community for the future.
- Awesome! - We are dreamers.
We are believers.
We are hustlers.
We are game changers.
We are the OG street wear label of India. - Amazing.
We started this brand in the year 2014.
With caps, wallets and the bags.
Now, we have more than 10 categories
- and products more than 500. - Wow!
We make sales only on our website
and no other market place.
We're a well established and a growing brand.
And our biggest problems is
that our stock is always sold out. - Wow!
Sharks, we're here for that reason.
We're here to take Urban Monkey to the next level.
I hope you guys like it
and you can join the monkey gang.
My ask is, Rs. 1 crore for 1 percent of my business.
- Oh! - Yes!
Bye. Thank you. I'm out.
- Yash, welcome to the Shark Tank. - Thank you.
Where are you from?
I was raised in Hong Kong.
But I shifted to India 8 years ago all alone.
My parents still live in Hong Kong.
Yash, how did you get this idea?
I'm into skate boarding since I was 12 years old.
Actually, when I first came to India.
I had no friends.
So, I had joined a group in Facebook
which was called, 'Skate Boarding in Mumbai'. - Wow!
So, the input which I got from the people there.
I got to know that we don't get a brand here.
They told me that about the stuff which they don't get here.
They don't get the bomber jacket here.
So, I realised there was a big gap in the market
which the youth wanted.
When we started the cap business
there was no brand in India
that used to sell caps.
It was all about old school
retailer, distributors and whole-sellers
distributing all over India and selling online.
- I have a box for everyone. - That's nice.
Wow!
You don't delay the bribe.
So. Thank you.
He is asking for, Rs. 1 crore and he must bribe us good.
Nice packaging.
- Nice. - Thank you.
- Definitely, nice packaging. - Thank you.
- Buddy, the box is really nice. - Thank you.
So, are you the CEO of this business? - Yes.
- I'm the founder. - No co-founder.
No co-founder.
How much do you sell this glasses for?
That one is worth, Rs. 1,200.
- Rs. 1,200. - Yes.
How much does it cost for making this?
Nothing more than 2 dollars.
- Do you import this from China? - Correct.
How many do you sell
the eye wear in this category?
About 25 to 30 percent.
- Can you give me a sweat shirt? - Please!
What product do you sell more? Is it the sweat shirt?
No, it's caps.
Caps account for about 40 percent of our sales.
40 percent caps and 30 percent glasses?
- Yes. - So, why don't you stop this?
- 40 percent caps and.. - Even this sells.
- Well, your brand Urban Monkey.. - Yes.
There are other brands like these in the market. - Correct.
What difference does your brand make?
We create products
that don't only look good
but there is a bit of functionality
- and durable as well. - Have you heard about Bewakoof?
- Yes, I've heard about it. - Even he does this.
We both have a different target market.
- The quirky designs.. - Even they do that.
We don't make quirky designs.
This is quirky. How else do you explain this?
This is drip, I would say.
- This is.. - What is drip?
Drip is like.. Drip!
- What do I.. - Swag!
Do you know what he means?
He thinks he is dealing with elders here.
- Drip is drip.. - Drip is a vibe.
Drip is something
which makes you feel
- that it is wow.. - Yes.
You feel you look good today.
- Yash, tell me something. - Yes.
You told us you sell these only on your website.. - Correct.
- And not in a market place. - Right.
What is the strategy behind that?
So, in the beginning
in the first 3 years of our business
we had sold these only in the market place.
I felt it was very unstable and there were fluctuations.
To be honest,
the SEO and everything else was making sense
to move away from the market place.
Because people search for us.
Even today, about 30 percent of our sales comes from search.
Well, let's talk about your sales now.
This year, till date, we've done, Rs. 5 crore.
And we're going to end it at, Rs. 12 crore.
Last year, we only did, Rs. 3 crore in sale. - Wow!
And we're on track to close
the sales in the next year at, Rs. 25 crore.
And we've pre-planned our purchases
to be able to do so.
- Is your business profitable? - Yes, it is.
Last year, we had a net profit of 15 percent
and this year, we're going to have a net profit of 25 percent.
- So, you're.. - 25 percent? - Yes.
- Will you earn, Rs. 3 crore? - Yes.
- In profit? - Yes.
- Net profit. - Yes.
Why do you want the money for?
You can get, Rs. 3 crore.
- He's not here for the money. - What?
- Money.. - He needs Aman.
He needs Aman.
I.. - Aman is about to jump out of his seat and hug you.
- Yash, tell one thing honestly. - Sure.
Don't you think that you
don't know about the market place sale
and the sourcing?
Tell us honestly if you don't know
because these people are smart
and they will get it.
When were doing business in the market place
we didn't had the growth.
We couldn't increase our sales.
We had no control.
So, you don't know.
I didn't know about the market place.
Alright?
Yash, you started before I started my company. - Yes.
So, you've not accomplished anything in these 8 years.
I agree with you.
I used to take care of everything in the first 3 years
in India.
It was a wrong decision.
When I didn't get the expect results from Amazon and Flipkart
and when I decided to focus on my own website.
That's when the actual brand building
and team building exercises happened
which resulted in the growth of our brand.
We've seen the actual growth from the year 2016
and it was pretty much flat line before that.
But on a serious note
if you had started only the cap business. - Right.
You could've done a lot of things in that.
I think we're the biggest cap sellers in India.
I'm pretty sure of it.
But why did you add more categories?
No, this is right
because you could've commoditized with only the caps.
So, you must go into the clothes business.
There is an inventory problem with a lot of categories.
I agree to that point.
- I agree.. - And watches.
We're going to launch that in January.
It's around, Rs. 8,000.
- Even that.. - Are you launching watches?
We're launching watches.
Yash, you're making a mistake.
Don't get into the watches.
You'll face a problem if you launch watches.
You'll lose your focus with that.
Yash, if I tell you to shut down your other businesses
and focus on selling only caps.
And we can take it to the next level. Can do it?
No!
Why are you selling glasses?
- Glasses are.. - Can we talk?
Our customers wanted glasses.
We'll have quick chat.
Yash, I'm very interested in your business.
- Okay. - Yes!
I would say..
But I think
when you spoke about the watches.
- Then, I stopped watching you. - Okay.
If you look into different technical products
the watches have a completely different supply chain.
- Correct. - Whereas the glasses
have a completely different supply chain. - Correct.
And you're starting a new supply chain
without solving the previous one.
For that reason, I'm out.
I've made my decision. I want to tell you that.
This doesn't interest me because I feel that
you'll encounter a massive inventory
and working capital problem.
The Rs. 1 crore will be stuck right there. - Okay.
So, I'm not willing to invest in this right now.
- I'll make an offer. - Okay.
It's an interesting offer.
This has never happened on shark tank.
- I want a 50 percent stake. - Okay.
And I want it on the condition that
until you hit Rs. 50 crore
you'll play only in the caps
- and eyewear categories. - Okay.
We'll add more categories later
but until then, only two categories.
I'll help you improve quality and speed in eyewear.
- We'll make then in 30 days. - Right.
Eyewear alone will fetch us Rs. 50 crore in a year
and Rs. 100 crore in 2 years.
If you're willing to do that
then I'll invest Rs. 5 crore
in exchange of 50 percent stake.
Full equity. Right?
But I guarantee you
I'll make it a Rs. 300 crore brand in terms of revenue.
Yash, the condition he has placed is not fair.
Even I have the same problem with you.
If we.. I'm being honest here.
I'm really interested in the caps business.
Caps business is crazy.
And it could be the next revolution. - Correct.
When I entered the business, I was told that
it corporatised and that I couldn't make
my business thrive but I did.
That's how I got where I am today.
So, when someone tells you that, ask them to shut up.
Just make the offer, pal!
Don't ramble.
Okay, so..
Why don't you want to focus on the caps?
Everyone makes t-shirts.
There are hundreds of t-shirt brands out there.
Even if all the sharks as well as you go down
there is no brand selling caps.
If I can launch this in the market
- it'll be a sensation. - Okay.
Focus on caps and eyewear. Forget all these
- stupid things. - Okay.
I want to invest a crore.
Ashneer and I will come together. - Okay.
But we want 10 percent.
Five percent each. - The valuation remains the same.
I'm willing to match that offer.
- But I want it all for myself. - Okay.
Now what?
- Can I have a minute? - Yes, of course!
- You can go out.. - I'll just go out
You can even make a counter offer. - Yes.
- But try not to. - What!
There are three offers, I'm sure he will.
He'll mint money from the eyewear.
Take it all if you can, Aman.
It's not a competition, 'take it if you can' he says.
No, that's not what I said.
I mean, I think the entrepreneur seems shaky.
Both of you put on his caps.
He'll accept.
Wow!
Whoa! It looks nice.
Yes, so..
Thanks for the offer, Sharks.
My counter offer is
Rs. 1 crore in exchange of 1.33 percent equity
which comes to a valuation of Rs. 75 crore.
- Tell me something. - Yes?
Suppose we give you Rs. 75 crore. - Okay.
As against 10 crore valuation. What will it change for you?
Well.. - You're still getting Rs. 1 crore. What changes?
Rs. 1 crore is not going to change my life.
- So you don't want the money? - You people
already know what I'm going to learn
in the many years to come.
If I get the right mentorship
then I know that the bets we play
will come out richer.
I want to tell you something, Yash. - Okay.
Okay? And I'll say this to you too, Ashneer
and Amar.
When you're not open to feedback.. - He's not.
Then mentorship is out of the question.
My time.. What will I do with your equity?
We're not here for the free lunches.
Our time is valuable and..
My biggest doubt was your non-flexibility
because of which you stepped out which is why
- I made the offer of 50 percent. - Okay.
So, at this point, I'm absolutely..
I'm one hundred percent out.
Let me tell you one last thing I see in you.
I know you're a rigid man.
But being rigid or stubborn is not a bad thing.
I'm stubborn too.
Your product is good.
You make one last offer, I'll say yes or no and close it.
Okay?
If you need us, say it. If not
we don't need you either.
- Tick-tock.. - Sorry.
It's okay.. But make your final offer.
Don't save anything for later, or you'll regret it.
Okay.
My second counter offer is..
Rs. 1.5 crore in exchange of 1.53 percent equity
which comes to Rs. 65 crore valuation.
It was nice meeting you. Thank you, bye..
Very good presentation. Best of luck.
- Thank you so much, guys. - Thank you, best of luck.
Thank you. - Okay, good luck. Bye.. - Bye. - Bye.
He's got a problem. He's not flexible at all.
Whatever he does, he'll do on his own.
I had a doubt when he came back.. - I'd have taken it.
He's part of the sub-community of skateboarders.
He's too obsessed with it to come out of it
and see the big picture.
- Hello, Sharks! - Oh!
Sharks, bike trips can be
so much fun! Hold on!
I almost forgot to call my co-founder!
- Oh! - Wow.
Wow!
- Amazing! - Be careful.
Welcome.
Oh! Double welcome!
Hello, Sharks.
I'm his business partner and life partner
- Tasneem. - And I'm Ismail.
And our company is called 'Guardian Gears'
based out of Secundrabad.
The Guardian Gears story began in the year 2013
when I saw the picture of a sports bike in a magazine.
In 2015, I bought that bike.
After that
I went all around the city in search of good riding gear.
But I couldn't find any shop that sells good riding gear.
That's when, in 2015
we started our own riding gear store.
by the name 'Gear Up Your Motorcycle Store'.
When we started interacting with the biking community
we found there was a gap in the area of motorcycle luggage.
And in the year, 2018, we started
'Guardian Gears' in the garage of our home.
And today, we manufacture
premium quality tank bags
tail bags, saddle bags, backpacks
tank pouches and other products.
We're proud to say that our products
have been appreciated for their quality
by more than 30, 000 customers.
Our products are available
online, on our own website
on Amazon and across 70 different stores in India.
Our dream is to not only sell our bags in India
but also export them to other countries
and to become India's number one motorcycle luggage brand.
Hence, we're here to offer you
a five percent share
in our company for Rs. 30 lakhs.
So, Sharks! Are you ready to shake hands
and create your own story?
Wow! What a grand entry!
- Thank you, sir. - Welcome.
Thank you so much.
So, what's your role in the business
and what did you do before this?
I had joined him at 'Gear Up Your Motorcycle Store'.
Our store
where I manage the sales front.
When he had the idea of starting our own manufacturing
he was the one who started 'Guardian Gears'.
It was his own manufacturing brand.
Since I was already a part of his business
as well as his life partner
he also made me a co-founder.
Okay. And you have equity too?
Yes, ma'am. - What's the share holding pattern?
50-50.
Okay. A lot of women work in your workshop, is it?
- Yes, ma'am. - Yes..
Are you the sole manufacturers of these bags or there are more?
There are only three or four manufacturers
in India who manufacture these bags.
There are about 10 brands who do this.
You own the factory?
Yes. - How many people work for you? - 30 people.
So, you have a big business of bike bags.
Bike bags, right?
- Yes, sir. - I think that
your main market will be Royal Enfield
- and Harley Davidson. - But sir, these bags
are not only for Royal Enfield. They can fit on any motorcycle.
We sell about 25,000-30,000 bags in a year.
And last years, we booked sales
of Rs. 1.5 crore.
- Okay. - And this year we're
targeting Rs. 2.5 crore.
And all this business is from your bags
- and not from your shop. - No.
- This is only.. - The shop is separate.
Yes. - What's the difference between
a biker bag and normal bag?
Show us some samples.
Such bags are available at Decathlon too.
One hundred percent, they are.
But if you compare the quality..
Quality wise this is definitely better.
- Yes, sir. - Thank you so much!
Even the zipping is.. Generally what happens is
people get the construction right
but the zippers are not up to the mark.
- They get spoilt easily. - Thank you so much, sir..
- How much does this bag cost? - This sells at Rs. 500.
Amazing!
I have a few questions for you
if you'll please answer them for me.
Who are you? Are you a brand?
Or do you sell a product?
Actually sir, we sell a product right now
and we want to create a brand out of that product.
I want to ask about your unit economics.
How much that costs you and how much you sell it for.
It sells for Rs. 3,000.
Overall, we have a 50 percent margin.
Is it a profitable business?
Yes. - How much do you make in a year?
How were sales last year?
- We made sales of Rs. 1.25 crore. - And what was the profit?
50 percent, as I told you.
- Net profit. - That's your margin.
The net profit is around 12-15 percent.
With sales of RS. 2.5 crore, you'll make a profit of
about Rs. 35 lakh.
Okay, I've already made a decision.
I think you're operating in a niche market right now.
Secondly, your branding
seems a little bit
on the edge. It's somewhat risky.
I'm not saying that it's a true copy.
No.. - But if someone sees it from an distance
it gives the first impression of the Harley Davidson logo.
I don't see scale in this, so I'm out.
Can you tell me what's your month on month growth?
We made Rs. 18 lakh in June.
Then we made Rs. 21 lakh.
We touched Rs. 30 lakh in September.
Last month we again made sales worth Rs. 21 lakh.
What's the percentage of sale on Amazon and your website?
You could say it's 60-40.
60 percent sales is on Amazon
and 40 percent is offline.
Your business is interesting
You're making profits too.
But I am wondering how you're going to scale your brand.
It's evident that production is your strength.
Your products are proof enough.
But I don't know who will handle the other areas.
We can't do it for you.
You need solid digital marketing to build a brand.
Sir, we can always hire some capable person for this.
There's a lot we can do if we have enough funds.
But with that just as you..
Let me tell you, there are several companies.
Lochner, Otrapnen? You'd have seen them online.
There were a lot of similar copy bags of these. A lot..
You know what happens then? Your IP gets destroyed.
You know where you'll lose most of your time then?
- In protecting your brand name. - That's right, sir.
And the growth beyond a certain number
becomes difficult. So, for that reason
I am out.
You're going to have an offer from one of the sharks.
Oh, God!
We're excited.
I'm the one left.
These kind of businesses are quite challenging.
On one hand, you're running your store.
So, before making the offer, we'd want you
to shut it. Because it's just a distraction.
Because all the efforts you put in there
- the resources won't be worthy. - Yes. Ultimately true.
Secondly, this is definitely a crowded market.
Your branding is a bit challenging.
For instance, your logo looks like Hali
and the colour is of KTM bikes.
So, we'll have to get that changed
if we want to make our own identity.
And you'll definitely have to hire someone smart
- and young for the branding. - Yes.
Because that doesn't seem to be your comfort.
Whereas, making these bags
which you've done really well
this is your comfort and confidence. - Thank you.
So, that's.. Based on these, we want to make an offer to you.
So, 30 lakhs for 30 percent.
Where all three sharks will come ten percent each.
And it's a non-negotiable offer.
I don't think we can allow any counter offer..
It's an in or out offer where you'll have to decide.
We'd like to make a counter offer..
Well, we can make it 15 percent for 30 lakhs.
No, I'm out of it. Sorry.
We can't offer anything more than this, sir.
Guys, this deal won't work for us at 15 percent.
I'm very sorry but we're out.
- Thank you so much. - Thank you so much.
- Best of luck. - Thank you, everyone.
- Thank you, all the sharks. - All right, guys.
- Good luck. - Thank you. - Thank you.
Hi, sharks. My name is Oshina Hans.
And I'm Saurabh Tokas.
We both are 28 years old and we're from Delhi.
And our brand is Modern Myth
which we started in 2019.
Who says, girls can't get into business.
I do it.
And I..
I'm a girl boss.
Who says guys can't carry flashy bags?
- I carry this, daily. - Wow!
Who says, the gun can be loaded only with the bullets?
- Things can be loaded as well. - Wow! - Pretty cool.
Let lips be not just to apply lipstick
but also to keep lipsticks.
It's just the leather that's needed to make stylish bags.
What say?
It can be vegan leather as well.
Introducing
Modern Myth.
In 2019, we started with just four artisans
and a catalogue which had just 30 bags.
Today, we have 140 varieties
and our Modern Myth bags
are available on our website, modernmyth.in
and also other market places.
Sharks, with your investment and expertise
we want to take Modern Myth
to every corners of India.
We also want to explore untapped market.
For which we're asking you, sharks for 75 lakhs
at five percent equity.
Oshina, Saurabh, welcome to Shark Tank.
- Thank you, ma'am. - So, how do you know each other
and how did you decide to start this business, together?
Saurabh and I know each other from 15 years.
We have been dating.
We know each other from our school days.
I'm graduate from NIFT. I just told him, someday
that I want to start my own brand
and I may need a bit of his help.
But I helped her, completely and not a bit.
I'm fully invested in the business
because I know her potential.
Saurabh, you supported her for her business acumen or..
No, I supported her for her design aesthetics.
Awesome. So, are you both still dating
or did Saurabh propose you, finally?
He.. He didn't buy a ring yet. There's no guarantee about him.
No worries. I can give mine.
I can think of it if we crack any deal.
Oh!
So, we'll have to offer a deal, now.
Good.
Please show us the products.
In the marketplace, without marketing
- we've done 2.5 crores in sales. - Wow!
And how much was the sales in the last month?
14 lakhs.
What is your average selling price?
- 600 ASP, sir. - 600 ASP.
Who is the CEO of the company?
- It's obvious, sir. - Obvious.
What is your share holding pattern? - 50-50, sir.
What if you guys have a fight or something..
Sir, she's the one. She's the boss.
You said you're from NIFT.
There is something called design language.
Take any brand for example Louis Vuitton or Gucci..
People will take one look and recognise the brand
and it belongs to their design range.
This looks like half of Janpath Market
half from Rajouri Garden.
A little bit of Sarojini Nagar and a little of GK.
You've chosen products from four street vendors
and you've decided to sell them online.
Or did you design them and ask someone to manufacture them?
Start a stall in Sarojini Nagar
with anyone's name yet they will sell.
Sir, you can't find our fan bag anywhere else.
What is your main USP?
Our main USP which has been till today
and I would beg to differ, but it is our design.
Which can be copied, right?
We won't stick to one design
we'll make hundreds of designs
even thousands because we manufacture it ourselves
and we have our own designer.
You are the main designer of the firm. - Yes.
Did you hire any other designers? - No.
You launch the design that you like.
Yes. - It's very competitive market. A lot.
And you said that the only differentiation is design
so if you make designs of all kinds
then it'll become difficult to make a brand.
I want to make a go-to brand.
I want to focus on the millennial market
I'm focusing on the young market
who want to experiment with their looks.
They won't repeat the same look.
Our customers are not like that.
You want to make a fast fashion bags brand. - Yes.
Did you do some work on how to retain a fast fashion market?
Firstly, I'm not interested in launching
new designs every ten days.
I want to make few memorable styles first.
You'll associate certain styles with certain brands.
So I've made my decision.
I asked you a few times as to what you want to do.
You said your design is good.
Before the design, you can make a brand.
Concentrate on the brand.
You are not getting it now. For that reason, I'm out.
When you started your pitch you said a statement.
- Vegan bags. - Yes.
- So are all your bags vegan? - Yes.
- All the bags? - Yes.
Isn't that a differentiator?
You are not talking about it. I don't get it.
Sir, we wanted to come there..
He asked thrice what is your differentiator.
But all mass brands are using synthetic leather.
Yet, that's a point.
I think you are in an interesting business.
The fast fashion market is increasing fast too.
But you are too early.
You still do not understand differentiation, positioning
and strategy.
Maybe you will do good business in the future
but today, I cannot join hands with you.
So, I am out. But I wish you the best.
- Thank you. - I have also made my decision.
I think you need to focus on your supply chain.
So that you can launch high quality bags
in affordable price at scale in the market at the earliest.
You continuously need designs. It's not about the present.
Now, your design is a hit. But how will it become a hit
in the future? For that you need machinery.
So, I think it's too early now.
You should work on that.
And I wish you best of the luck. Today, I am out.
Thank you.
So, three Sharks are out.
Ashneer, have you made your decision?
I didn't even understand the design.
Secondly, in the future there may be clash
between you guys.
What will happen to the company then?
Sir, we are together for last 15 years.
We will not have any clash just like that.
And we don't have any such plan for clash..
No, you don't need a plan for that. - No sir, I mean..
But Ashneer, that could happen even after marriage.
It could happen after marriage too.
- But generally it doesn't happen. - No..
Generally.. - Look, it's called relationship risk.
Right? An investor doesn't want to take that risk.
That's a little sad to talk about.. - Yes.
...because we have an example right in front of us. - Yes..
She is doing business with her husband. - Yes.
And she is really successful.
So, I look up to her.
We look up to her. We were discussing about her only.
That if she can take a business to this level
- then why can't we? - Absolutely. - Good answer.
No.. You.. - Absolutely. There's nothing to be offended.
- No.. - When it's about a business..
Yes. - Yes, sir. - ...then we talk about the deals.
- Yes, sir. - Okay? - Of course.
So, we will talk about all the risks.
We respect you opinion, sir.
The last Shark.
We make such bags, a lot.
The problem is that this thing rusts away too soon.
This material will start coming out.
See, we give the bags for free with lipstick.
So, we don't care if after six months..
But in your category quality is very important
because you have to build a brand.
- Right. - So, my suggestion would be..
Despite depending on the design
you should focus on the quality, durability
and on consistent designing language.
Then you can increase the scale.
So, right now this does not fit for me.
So, I can't be a part of it.
But I think that you two are a fabulous team.
When your brand gets a pull
that consumers will buy the expensive bags too..
And when they will not pick you just for the design
then it will be a better time for you to raise funds
in my opinion. So, for now..
All the five Sharks are out.
Best of luck Oshina and Sourav.
But we will not let go of one thing.
Make the proposal.
Next year, for sure. You will be invited, sir.
Thank you.
- All the best. - Okay.
- Okay. Thank you.. - All the best.
Best of luck.
It's amazing! Now-a-days, it's not a big deal
to generate 10 to 15 lakhs per month through a business.
That's a good thing but you can make maximum 15 lakhs.
It's okay for the exhibitions
- but it's not for investment. - These things are now..
- They are commoditized. - They are commoditized.
There's nothing much to differentiate..
But some of them will become the heroes
who will make big brands.
100 per cent. I guarantee you.