[pleasant music playing]
[birds chirping]
'Darbhanga Junction'
[engine revving]
Come on, work well and quickly.
Put them down carefully, please.
The chillies have dried.
Please mix it all thoroughly and well.
'The average order value is Rs. 600.'
- 'I loved it. - Just hearing you say
'average order value made my day. '
Wonderful.'
Within the first month of its launch,
I made a sale of Rs. 2.5 lakh.
Rs. 3 lakh in the second month,
and Rs. 5 to 6 lakh in the third month.
We didn't get any funds from Shark Tank.
'I do wish to offer you a value-add, but I can't.
'I am not able to give time.'
- 'I'm out too. - Me too.'
But there certainly was progress.
The sale of three months took place overnight.
[pleasant music playing]
We are preparing the order we have received.
We wish that JhaJi pickles reaches every household
and every dining table.
May it be a part of everyone's meal,
and may they not eat food without it!
- No... - Kalpana!
Uma.
Ah!
Welcome!
- What a surprise! - Welcome.
I'm emotional. Look, I've got goosebumps.
- Me too. Look. - Oh!
'Kalpana and Uma have set an example for others.'
'Their pitch just instantly won my heart.'
- My mother scolded me. - Yes!
- [indistinct] - That I keep saying that
I want to make giants in India and invest in women.
Then why didn't I give the cheque?
The beauty of having regrets is
- that you can correct them. - Yes. Absolutely.
- We've come here to rectify it. - Lovely.
We have another surprise for you.
This is from Jharkhand Angels, Namita and me.
For your inconclusive journey in Shark Tank Season 1.
- Thank you so much. - We're here to give it conclusion.
- You both deserve... - Thank you so much.
[joyful song playing]
What was the amount you asked for
when you came in episode 1 of season 1?
- Rs. 50 lakh. What's this amount? - Rs. 85 lakh.
You have not just supported my company,
but also these women who work with me.
[joyful song playing]
'I believe that Kalpana and Uma's story'
[upbeat music playing]
Lakhs of women will message them
saying that their story inspired them to start their own business
and show their husbands and children
how successful they are.
- Like this. - In this manner?
- From top to bottom. - Right.
- From the bottom. - Bottom to the top?
Yes.
Sometimes, we lose our way while focusing
on just the destination.
So, before beginning the new season,
taking this detour was important.
So, concluding the unfinished journeys of last season,
we bring you a new season of Shark Tank India.
So are you ready?
- We're ready! - Yes, we are!
[music playing]
Such a cool logo. But what is this?
Flowers for performing 'pooja'.
A woman in a lovely sari will come now.
- [chuckling] - 100%.
A girl will come this time.
[theme music playing]
[theme music continues]
[theme music fades]
We are the founders of Hoovu Fresh.
without which every 'pooja' is incomplete.
Our practices of performing 'pooja' or worship may be different,
but the sanctity and beauty of this experience
is the same to everybody.
But the preparation of this beautiful experience
is extremely chaotic.
Rushing to the market, haggling for the freshest flowers...
And when we finally buy the flowers,
they wilt within just a few hours.
The 'pooja' industry in India
is valued at over Rs. 2.5 lakh crore.
Then why didn't any company capture the market?
The main problem is freshness.
[intense music playing]
Flowers retain their freshness for a maximum of two or three days.
And Hoovu Fresh is here with a solution.
With the help of our in-house technique and machinery,
we've increased the shelf life of these flowers from two days
to fifteen days.
- Oh, wow! - Wow!
We have a presence in eight cities.
We have fulfilled
But flowers are the one thing
- that we offer to the Lord earnestly... - Hmm.
And never take back.
Our vision is simple.
To make Hoovu a part of all your prayers
and give you peace of mind for those ten minutes.
- Hmm. - So, sharks,
Rhea and Yeshoda, welcome to Shark Tank.
- Thank you. - Thank you so much.
There are so many things to do in life.
Is it?
Actually, I was working in the house one day.
I was thinking about the scope of retail floriculture.
My mother was offering prayers at the time.
I was sitting right opposite the prayer room.
That's when it struck me that this industry exists.
Why didn't we think of it?
That's when we did more research and spoke to people in finance
and that's when we learnt that the problem of freshness
is very evident in traditional desi flowers.
And that's what excited us.
We had an interest
in returning to India and doing something new.
- Okay. - And we stumbled upon a new product.
What do you mean by returning to India?
We went to college in America.
I studied in Washington University in St. Louis
where I pursued Masters in Accounting
and Bachelors in Business Administration.
- Okay. - I did my undergrad
- in Stanford University. - Oh, nice!
I got a mixed degree in Computer Science and Journalism.
There ought to be something about this business in that case.
Your names are also appropriate
- for this business. - Yeshoda. Yes.
How do you divide the work?
Sir, I'm the CEO.
I oversee day to day operations and finance.
I'm the CTO. I oversee marketing and tech.
Usually, when there's a 'pooja' at home,
people buy a handful of flowers from the local vendor.
So, how does the scalability look?
That's a great question.
We always look at it as a channel and not competition.
Those ladies are selling those flowers
because that is what is available in the market.
But if we can deliver these packets to those ladies,
they, in turn, can deliver
a high quality experience to their customers.
But what's the price difference?
We've been competitive with the market from day one.
So, we started out with
- a ten rupee packet. - Wow.
But we observed that people are ready to pay that premium.
Quality is extremely important to consumers,
including the sellers.
The industry standard for wastage stands at 40%.
But our flowers brings down that wastage to 2-3%.
Wow!
What I loved about your business the most is
by extending the lifespan from 3 days to 15 days.
- Hmm. - Right?
- Hmm. - You must be using some technology.
On a broad level,
low or high moisture needs to be brought in control.
Bacteria, too, must be brought under control.
We use this machine for the garlands.
[buoyant music playing]
- Who would have thought? - Yes.
The blooming and wilting of flowers have the same biological process.
Stopping that biological process
depends on the sealing time of the packet.
We flush the packet with a particular gas.
- That's what stops the process. - But is this similar
to the flushing of potato chips?
- Different. Not nitrogen flushing. - Not nitrogen...
Can you not follow this process for fresh fruits and vegetables?
Honestly, what works for apples will not work for flowers.
- Yes. - Yes.
[pleasant music playing]
- These are our packets. - This...
And here are our gift boxes as well.
[pleasant music playing]
Ew! Oh!
[tense music playing]
This doesn't smell like 'genda'.
That isn't 'genda'. It is 'shevanti' or Chrysanthemum.
Okay.
Does it originally smell like this or is it because of the packaging?
No, the package is odourless.
Desi roses have a peculiar fragrance.
- Let me also smell them. - And...
The oleander, the pink flowers, are fragrant.
- Yes. This smells like 'genda'. - Yes.
[intense music playing]
I checked. The flowers are real.
- Please do check. - This is quite unbelievable...
- By the way, it smells really good. - Thank you.
But the biggest challenge that exists,
keeping the generation change in mind is,
that this isn't a growing market.
- I'm sure overall decline - Why?
will be observed.
Why? Everyone prays. I do too.
But the steps of the 'pooja'...
Have you ever bought flowers and offered it to God?
Yes.
Alright.
What were your sales?
Sir, actually, August was the first month
when our sales was Rs. 1 crore...
One crore sale!
Rs. 1 crore in one month?
Rs. 1 crore. Yes.
- [ecstatic] Like seriously! - [clapping]
- Mind-blowing! - You guys are very impressive.
The market is even bigger.
Is there any competition?
Right now, there is no company selling 'pooja' flowers.
Maybe, there's no potential.
It's not difficult to replace this.
First thing, I apologise,
but we'd have to disagree with you,
because this is not easy.
You're working with 500 farmers,
and the hour on hour rate of all the variety of flowers fluctuates,
as well as the market fluctuates too.
How does one deal
with seasonal fluctuations without having a shortage of flowers?
This is a big moat in itself,
What's the profit in that one crore?
We made a profit of Rs. 15 lakh last month.
[upbeat music playing]
What are some things you'd never do in your business?
One investor won't fund you.
[laughter]
- Tell him! - Yes.
[laughter]
We wish to see this product succeeding.
That high burn model
and let's go fast and break things,
that doesn't fit into our model.
It's because if you give your consumer stale flowers,
that ruins their 'pooja' experience.
That trust never comes back.
Could you tell us your sales figures for the last three months?
What is the month on month growth?
Sir, our sales in August was Rs. 1 crore,
- exactly around 1.1 crore. - Okay.
Then in July, our sales were Rs. 50 lakh.
And our sales in June were Rs. 45 lakh.
So, 50 to 1...
Was it because of the festive season?
- Yes... - When the festive season is over next month,
your sales could significantly drop after November.
Our average sale is Rs. 60 to 65 lakh.
What's the projection for the current year?
10 crore.
- Tell us the sales for FY 22. - Rs. 5 crore for FY 22.
- Nice... - See, I told you.
Let Vineeta and I make you an offer.
[buoyant music playing]
- Offer! - Powered by women.
Namita's and my offer to you is Rs. 40 lakh in equity
for 4% of the business.
[shocked]
- They have. - Yes.
- Yes, we have. - Oh!
They're very eager to make an offer.
This will be fun! [laughter]
- I felt bad about something. - Yes.
When they offered you Rs. 10 crore for a valuation of 50 crore,
didn't you wonder what's up with these fools?
- [laughter] - No.
[whimsical music playing]
I can't match a valuation of Rs. 50 crore
because it doesn't seem profitable.
I'll give you one last piece of advice.
Improve your technology continuously.
I think this solution you've come up with
to extend the shelf life of perishables,
that's where you can grow your business
if you think about other things.
This will go to one level and become stagnant.
So, that's why I'm out. Good luck.
- Thank you. - Thank you so much.
- I'll make you an offer. Aman too. - Not you, we.
Yes.
After the last round, we offer you Rs. 1 crore
against the Rs. 80 lakh you asked, for 2%.
So, Aman brings all the D2C and the branding you need.
As for how to scale the manufacturing
and grow the business and make it niche,
I do have some knowledge and know how to focus.
So, 1 crore for 2%.
So that when we wake up each morning, we feel like
- speaking to you on the phone. - And offering flowers!
So, that's our offer.
- Aman. - Yes, let's do it.
- Okay, I... - Is there a... One minute.
- We're a passionate... - Huh! What!
- You want to deliberate! - We are matching the offer.
Not the offer, the valuation.
- The valuation, sorry. - Is it different?
- 50 lakh... - From 10 crore to 50!
[intense music playing]
50 lakh for 1%
which is a 50 crore valuation.
30 lakh debt.
You have two offers. Have you understood both?
- Yes. - Okay.
We'll take a minute to think about it
- and then come back. - Yes. Sure.
- Please do. - Thank you, sir.
[tense music playing]
They want more than 50 crore! This is... [chuckles]
- But very powerful founders. - Very good founders.
I agree.
Erm, Aman! Peyush.
We'd like to go forward
- We will. - Thank you so much.
Amazing founders. You proved another thing.
You chose good people as great founders.
Thank you.
- Huh! - Thank you.
You chose the biggest 'phools'!
[laughter]
- [upbeat music playing] - [camera shutter clicks]
- Thank you. - Thank you, guys.
- Thank you so much. - All the best.
Congratulations, Yeshoda and Rhea. Superb job.
Thank you.
[upbeat music playing]
Make way!
The princess's of flowers,
- Yeshoda and Rhea, have arrived! - [giggling]
Wonderful! Lovely.
Greetings, sharks.
Today, we bring to you the tale of Darjeeling.
And a very special tea tasting along with that
which Ishaan will ready while I continue the pitch.
[music playing]
So, sharks, Darjeeling is made of two words.
'Dorje' which means thunder
and 'ling' which means land.
Dorje Teas is a story of the finest tea
that grows in the land of thunder.
[pleasant music playing]
Along with the changing seasons,
the colour of the tea,
its aroma,
as well as its taste changes.
And owing to this enchantment,
people across the globe relish Darjeeling tea.
[buoyant music playing]
As of today, India has 10,000 tea gardens.
But amongst them, only 87 tea gardens
are recognised as Darjeeling Tea Gardens.
- I see. - The sad thing is
that most of these gardens today are heavily loss making.
[sad music playing]
'The business of Darjeeling tea has always been one of export.'
But owing to the pandemic,
this traditional business suffered a huge setback.
[sombre music playing]
Normally, when a tea estate does not fare well,
the owners sell it off
[sad music playing]
'If hotels and resorts are built, the production of tea lowers.'
Without tea, Darjeeling cannot survive.
Darjeeling's existence is only from its tea.
[sombre music playing]
'My family has been into the Darjeeling tea business'
'for nearly five generations now.'
'Ishaan and I are childhood friends.'
'We both grew up in Kolkata.'
[sombre music playing]
'Ishaan and I always visited Selim Hill in the holidays.'
'It's spread over a thousand acres.'
'You'll even find hornbills there.'
'As well as elephants.'
'We have forged'
'a very deep bond with the locals and tea gardens there.'
In order to keep those memories alive,
we established Dorje.
[euphoric music playing]
'from our tea estates right at your doorstep.'
[euphoric music playing]
'This certified organic tea'
'is plucked, packed and dispatched'
'from Darjeeling's famous Selim Hill Tea Estate.'
[euphoric music playing]
Sharks.
When you like someone,
you usually go to them and say,
"Would like to go out for a cup of coffee with me?"
We want
that going forward, when people in India like someone
to ask them,
"Would like to go out for a cup of Darjeeling tea with me?"
- Nice. - Sharks!
We come here today to ask you for Rs. 30 lakh
but since the tea is ready,
I wish to take you on a tour of Darjeeling.
- The tea will go cold. Very nice. - Absolutely.
You took us through such a lovely journey of Darjeeling.
- You transported us there. - Very true.
- You speak really well. - Hmm. Yes.
Oration, I believe,
in an entrepreneur, is one of the most important attributes.
Anupam, may I request you to join me?
- Sure. - Oh!
Do I look like a tea drinker to you?
[chuckling]
Every year in spring,
Darjeeling receives its first showers of rain.
It feels as though a desolate place has flourished overnight.
- Oh, my! Poet. - And with that flourish,
our tea bushes start to flush.
That's why this is called First Flush
- or Spring Harvest. - Wow.
When we make the transition from March into May,
They give rise to an oxidation process before plucking.
The smell that it emits is known as muscatel,
like the fragrance of musk.
- Absolutely. It's a little sweet. - Yes. Right.
Wow!
The inhabitants of Darjeeling say
that this tea isn't to be consumed.
I am going to serve you that very tea today.
We roast this tea at very high temperatures.
We called it Roasted Darjeeling.
You can also add a tablespoon of milk to it.
If you could sniff this, please.
The taste is a smoky flavour.
I just want to stand here and listen to you talk.
If you invest, I'll come over to narrate stories.
[laughter]
I'll have to invest.
I'll have to invest then if I want to listen to you.
I think a bidding war will take place.
I know!
Let me tell you the most interesting tale of Darjeeling.
On one full moon night of every season,
which we call 'purnima',
all the employees of Selim Hills Tea Garden
tread the mountains with torches in their hands.
[crickets chirping]
We are nature, we are immortal. [in unison]
And as the full moon comes out and the tea leaves are blooming,
we carefully pluck two leaves in a bud,
which in Nepali is called 'Dui paat ek suiro'.
We pluck only those.
[sentimental song playing]
We delicately hand roll them
and make the finest White Tea from them.
[sentimental song playing]
- Very good. - Let me have you taste it.
Alright.
Take a big sip.
After you take a big sip, slurp the tea.
Okay?
[slurping]
- [laughter] - [slurping]
We're forbidden from doing it at home.
Epiglottis.
To slurp.
[whimsical music playing]
- [slurping] - He...
- You're gargling! - [laughter]
- You don't have to gargle. - He's gargling!
[laughter]
I'm glad you called Anupam.
[laughter]
No, buddy.
How about the conventional way?
- Conventional way? Sure. - Traditional...
- This... - Once more. Anupam, please once more.
My make-up will smudge. Don't make me laugh so much.
We will make you taste all the teas as well.
- Thank God! - Finally.
Thank you so much.
Come, let me help you.
- Let's serve the tea. - Sure.
It's just like in MasterChef when they present the dishes
- and then taste... - It makes you hungry.
It's the same feeling.
I have a similar feeling but with tea.
[euphoric music playing]
We came to see you and we approve of the boy.
- Wow! - [laughter]
First, tell us what we're drinking.
This is our Roasted Black Tea.
[euphoric music playing]
- The taste is authentic. - Yes.
There is no bitterness.
It's very strong but still very smooth.
Okay, tell me something. I am a very typical...
As they say, a typical Gujju when it comes to tea.
- I need ginger, lemongrass... - Cardamom.
- Not cardamom. - With milk!
- This... - Milk!
- That's very desi. - What's that?
Indians are very particular.
So, if you say, "This the monsoon flush,"
"don't add milk and whatnot..."
Then forget 50%, 75% customers will leave.
Including me.
- Right. - Yes, including me too.
You know which tea I love!
The one you get in a clay cup for five rupees.
- That we call 'cutting chai'. - It's my favourite.
See, you are amazing as a storyteller.
I might drink it once after listening to your story.
But my habit won't change.
I completely agree with you.
I don't believe we should set rules of how one should take their tea.
If you want milk in your tea, then you should take it.
Similarly, if you want sugar, then do add it.
That's your preference.
But as you mentioned, Namita,
you're very particular about having milk in your tea.
- Very. - Similarly,
the Indians who consume Darjeeling tea
are equally particular about how they like their tea.
Hmm.
India's tea market stands at Rs. 1.2 lakh crore.
Out of which, the market of Darjeeling tea is a mere 1%.
- 1000 crores? - About 1500 crore.
Alright.
Tell me in simple terms your vision,
business and where you want to see it.
Our vision is, in five years, we would like that we have
two to three lakh, maybe more subscribers.
Our annual subscription is priced at Rs. 2100.
Sparsh, in India, subscriptions, a model where you pay in advance,
is against the core human behaviour of buying in small quantities.
- Right. - It defies the idea.
It's a great product.
Don't get into forcefully making people buy subscriptions.
- Okay. - Sell them the product.
- Alright. - You'll get repeats
because the product is good.
How much do you think you can grow the business in five years?
[intense music playing]
I think we'll hit 100 crore in five years.
What is your current sales run rate?
From 1.5, you have to get to 100 crore in five years.
You said your GTM, or Go To Market as we call it,
is to attain 2 lakh subscribers.
Whether that works or not is yet to be seen.
Do you have another strategy in mind?
By expanding the retail business...
We need to expand the retail business...
You dream big.
You have no clarity on how to achieve this.
You've decided you want to do something,
that you want to make it big in the tea business.
[tense music playing]
What do you earn? What is your gross margin?
- Margins. - Our gross margin is 75%.
- Alright. And net margin? - We're running into loss right now.
How much?
Our cash burn on a revenue of Rs. 11 lakh was 2 lakh.
You've already raised funding.
We raised Rs. 8.5 crore in total.
- Rs. 8.5 crore! - 8.5 crore!
[intense music playing]
- Okay. - Out of that,
we raised Rs. 6.5 crore through brand capital.
Oh my God!
The remaining 2 crore, we raised from angel investors and HNI.
What was the valuation?
We raised it based on a valuation of upto 32 crore...
- You have left. - Yes.
You have a runway of six months. What after that?
[intense music playing]
You look at him when it comes to business.
- Is he just to understand the roles? - Yes...
- I think he's the business guy... - Correct.
- You're the product guy - Yes.
and he's the business guy.
Ishaan takes all the final decisions.
- Who is the CEO? - He is.
- How's the equity split? - 50-50.
50-50. Okay, let me ask you then.
[intense music playing]
How are you going to save your business?
[intense music playing]
In the last three months, we figured out everything.
From the product,
who's actually our target customer and everything.
- Quite dicey. - Right now is the part
where our growth journey has just begun.
[tense music playing]
I've made my decision.
[intense music playing]
Your tea is amazing.
Your mission is wonderful,
but I found your vision small in my opinion.
100 crore in five years with this business
and burning with that kind of capital.
So, for that reason I'm out.
[tense music playing]
- But wish you all the best. - Thank you.
I think there's a disconnect in your vision.
I think of your business as...
Look, I've never been to Darjeeling.
If I go there, see the tea gardens,
and get a complete experience,
only then can I sell a mass premium product.
Your vision is very different.
You wish to compete with 'cutting chai', regular tea
and my tea with milk.
So, I see a disconnect.
For that reason, I am out.
[intense music playing]
But outstanding storyteller. Loved that.
[intense music playing]
I think that nowadays, storytelling for a brand...
We have social media platforms.
They are a very powerful weapon to reach consumers.
While... I believe you've gone off the track with subscriptions
and you know, the others.
I am willing to come on board.
Rs. 30 lakhs for 10%.
You can clearly say
that you wish to be a premium eyewear brand.
- Sorry! Damn it. What am I saying? - [laughter]
Welcome to Lenskart!
- Welcome to Lenskart! - Premium tea...
You wish to be a premium tea brand.
But nonetheless,
we all have become fans of Sparsh.
And we all will come on board. The risk is high.
[tense music playing]
And we'll come as equity plus strategic investors.
[intense music playing]
We'll give you Rs. 30 lakh. 10 each.
But we want 5% each. That's 15%.
I thought you are in your early 20's. You're on life support.
So, we are giving you a bit of runway.
And are winging it!
You have a bigger purpose.
If you agree, we are on board.
If you say 'no', we'll wish you the best.
We will definitely visit your tea garden to meet you.
[intense music playing]
Could you give us a minute to think?
Certainly.
[intense music playing]
Had they negotiated slightly, it'd have worked out.
- I think there's some room. - No, there's too much risk.
- This is a fine company, Namita. - No...
You're saying that if they say 10
instead of 15, then we shouldn't go ahead.
- Worst case... - If it's 10, then I'm out.
- Which is? - He's out and so are you.
Worst case I will do is 12.
Yours is 12. Yours is 15.
Even 12 will do. You won't go any lower.
- I'll do it at 15. - I think so too.
[tense music playing]
- Welcome back, guys. - Ishaan and Sparsh, welcome back.
I told you earlier it is non-negotiable.
- So, speak wisely. - Yes.
[dramatic music plays]
We have one condition.
If you can convince him to come with you
to visit Selim Hill Tea Garden only then we will accept your deal.
[pleasant music plays]
This will be long term, not for three or four months.
And we will make this a big brand and I'll be drinking only this tea.
- Guys, here. - Absolutely.
[camera shutter clicks]
Look!
What happened? Is he back?
We decided to invest in your competition...
[laughing]
- Alright! - How dare they!
Come here and meet me!
Hammer too!
I will eat them up!
I am the don of this industry!
Yes! What was it?
I am the don of this industry!
[theme music plays]
- Hello, Sharks! - Hello!
I am Rahul Sachdeva, 26 years. I've come from Panchkula city!
Who doesn't like makeup?
I love it!
Be it contouring, or bold eye makeup!
Everyone follows it on social media.
- They do. - And they want to try it too.
When women go to makeup artists
to get ready for an event,
she also asks her makeup artist
which brand is good,
and which product will look good on them.
But when these women go to buy makeup,
it is expensive.
Because they are mostly international brands.
- Okay. - To solve this problem
we launched the brand, Recode!
[dramatic music plays]
Recode is a makeup brand.
We sell international quality products.
Recode brands billability is
in local shops, 250 shops,
In 2021 we started our marketplace.
Oh, wow!
Sharks, our ask is
one percent equity in our company for 1 crore.
will I get that equity?
[laughing]
Or no?
We are not nervous.
You just learnt this dialogue from me, and you are using it.
Come on, guys! Welcome to Shark Tank.
Thank you, sir
How did you think of this?
That you want to do this, and why did you think of this?
I used to work with a brand in this industry
in an unorganised sector.
Which brand?
Make Over. I did my study there.
Where to make the best products from.
How people work in an organised sector.
I had the distribution of around five states.
Okay.
And you?
I used to sell bicycle parts.
I am working with his brother-in-law since 1998.
When he came to me in 2018
I spontaneously asked him why not work on this.
He agreed, and we started a company within two hours.
[laughing]
Within two hours!
You are awesome!
What do you mean he came to you?
You knew his brother-in-law?
Yes, he went to meet his brother-in-law.
[laughing]
You were sitting and sipping on tea,
and he said
that he is into makeup, and you suggested you form a company.
- Is that what happened? - Yes.
[laughing]
Is this how you make decisions in life?
Yes, sir.
Oh my!
Already, there are so many people in this market.
Which problem are you solving?
In an organised sector, there are around eight names.
Colorbar, Maybelline, LOreal, Faces Canada, Sugar.
These six brands work in a certain sector.
There is a focus on the consumer market.
We believe we are not competing with these six brands.
[music plays]
Offline we have self-grooming classes.
And we teach them and do customer acquisition.
Give us an example, who is your customer?
What were they buying earlier,
and why are they buying your products now?
The artists,
advise an expensive product to girls.
Just like I told you during my pitch.
To replace international brands
we have introduced Recode brand.
Are you a premium brand, or...
Sir, economical!
Sir, may I show you my products?
- Sure, you may. - You may.
Especially those that are better than Sugar.
[laughing]
Try water cream, sir.
This is the primer.
Is it transfer-proof?
- It's smudge-proof and waterproof. - Wow!
- Makeup mixer? - Yes.
It's an innovative product, ma'am.
Thank you!
[suspenseful music plays]
I saw your product.
But I have never seen a package that is this bad.
[dramatic music plays]
It is broken.
You've put a sticker here.
Is it very cheap? Why is the packaging like this?
It is not that cheap. We will improve the packaging
if you think it is not up to the mark.
Do you like it?
It is good to go in the market.
Solid!
And you're speaking
as if you are eating something.
Are you chewing tobacco?
I need to drink water.
- Want to drink water? Please take. - It's kept behind.
And your manner is different too,
tattoo on your hand!
It's style!
I have made my decision.
[suspenseful music plays]
As a principle,
I never invest in my friend's competitor.
But they don't have a competitor!
nor will I invest in makeup line.
- So for that reason, I am out. - No problem.
Thank you, ma'am!
I will!
- I will talk to you. - So will I!
[laughing]
How much do you sell?
Last year, we closed on 15 crore.
This year we closed in 11.5 crore.
[laughing]
I knew that!
I asked so that I can make you all speechless.
[dramatic music plays]
We have 2,36,000 followers.
- How many? - 2,36,000.
- How many do you have? - 33,00,000.
Oh my God!
Anything else?
I must say...
Yes! Impressive!
You still haven't explained to anyone what you exactly do.
Your sale is so good
that everyone will look at it respectfully.
Are the artists on payroll, do you pay them?
Is this your customer acquisition strategy?
Are you selling your products through this
- or are you just influencing? - What is it?
Sir, we're influencing.
We charge them Rs. 1,500 for each class.
Buy products worth Rs, 1,500
and also have food.
What?
And also?
Food! Lunch!
[laughing]
Sir, the class goes on for around four hours.
We charge them Rs. 1,500 for the class and
give them free products of that value.
And we also give them free lunch.
[tense music plays]
A teacher teaches around 150 students
in her classroom.
- No! In a hotel. - I a hotel.
In five-star properties.
[suspenseful music plays]
How many people do you reach every month?
Off-season we manage 1000.
And this becomes your revenue.
No, this is not our revenue. This goes into our goodies.
This is at our cost.
Our main cost goes into hotel,
food and goodies.
Food and all...
You have come up with an amazing customer acquisition model.
I am impressed
This attracts people.
I learned an innovative model of customer acquisition from you today.
- Thank you, sir. - Thank you, sir.
- Is it a profitable business? - Yes.
- How much profit do you make? - Last year it was 6 percent.
How much is it? Tell me in rupees.
We make around Rs. 70,00,000 in profit.
it is more or less the same.
How much will you make this year?
30!
Minimum.
I didn't even hear the name of your brand
And I visit many shops that has to do with this market.
'Trysugar' follows us on Instagram.
- Does Sugar follows you? Oh! - Yes.
You need to go in-depth about your business.
Give some time to your business You are always on Shark Tank.
You have no idea what is going on!
I am impressed with you.
[dramatic music plays]
Let me share my decision.
[dramatic music plays]
You know in business, the moment you see the door is slightly open,
you should just enter inside.
- Correct? - Yes, sir.
You saw that opportunity for yourself.
Both of you are good entrepreneurs. You have a flexible approach.
To make a sale of 15 crore with profit in India,
even the giants fail to do that. Very good job.
But last year I made a deal with Hammer.
'You sell hammer brand to me.'
- 'Are you ready? - Yes.'
'If you are selling the company, I will buy it for Rs. 1 crore.'
People are selling themselves here and not equity.
- Hey, he is talking to me. - Yes.
- Exactly! - But I have the right
to say whatever I want. You can continue speaking.
[tense music playing]
When it was broadcasted on TV, I dropped a message to the Sharks.
I said I lost that deal despite winning it. Do you know why?
If we block all the categories on Shark Tank,
then how will we help entrepreneurs?
Continue doing what you're doing.
I think you can work on your branding.
If you do that your brand's aspiration will become better.
[suspenseful music plays]
I don't want to be a part of this today
because I believe I cannot add any value
to the ecosystem
of this business.
Yes, sir.
Let me congratulate you first.
Thank you, ma'am.
- This crayon is very good. - Thank you, ma'am.
In a category like makeup,
consumers like to try it first before buying it.
I think it's a good thing to have a bestselling product.
Women still get scared to put makeup on even now.
Because they think they will look funny, or people will laugh at them.
The foundation shade is not correct, the winged eyeliner is not perfect.
Education is a good way
to win consumers trust.
I believe, the professional market...
The makeup artist who
can afford makeup worth Rs. 600,
but they don't want a branded product.
That's not a sizable market.
That cannot make Rs. 300 crore.
It cannot scale a profitable business
to a certain extent. Because
- I am in this business. - What are you saying?
I cannot partner with you on this.
But best of luck! You have come a long way.
You should keep trying. Good luck!
Thank you!
Let me summarise it for you. Four Sharks are out.
I am saying that because I am still confused. Okay?
You mentioned the marketplace. What happens in the marketplace?
- Are you selling other brands? - Hmm!
How much of it are you selling?
In total, we make 50 percent revenue from D2C (Direct-to-consumer).
That comes from the marketplace.
This year you Wil make 30 crore. Is 15 crore from the marketplace?
7.5 crore.
The total will be 30 crore.
We have a 25 percent share in the marketplace.
- What are you saying? - Other brands.
You will get 7.5 crore from other brands?
Why did you make it a marketplace?
We were helpless, sir.
When we started work in 2018
we had around seven SKUs (stock-keeping unit).
A year later we were hit by COVID.
We were about to shut our business. We were in loss.
With that in mind, our products
that were about to expire in about ten months
we sold them all over India for Rs. 1.
[dramatic music plays]
We put a flat sale of Rs. 1.
Rs. 1!
Wow! You are a marketing genius.
You do good business.
People tried our products.
Then we got demand.
After that, they kept coming to us.
You are good players in your business.
What you did to get here,
and you aim at making 30 crore,
I am very surprised.
I didn't expect this.
Believe me, there are businesses
like this that are taking off in India.
That is what I am saying.
What is going on? I am confused. That's why I am shocked.
A flexible approach!
India will change in five years!
That is for sure.
Both of you
are going to be the future of New India.
I feel so proud when I meet people who come from
a small town and run profitable businesses.
We never even imagined it.
That too in makeup! Who would have thought? Two guys!
You are teaching us something before you leave.
I will also give eye testing classes in a five-star hotel.
Wait and watch! I will start next week.
- And lunch too! - I will!
- Lunch is a must. - It is a must!
This is the point of attraction. Five-star property and lunch.
Sir, I've understood the model really well.
We still attend weddings we are uninvited
to a five-star hotel to eat.
[laughing]
You are genuinely putting in the work. That is good.
I have two issues.
One is valuation.
I won't get it no matter how hard I try.
The second issue is... I have never given this reason.
But the second reason is chemistry.
The way you decide scares me.
You said, he met you when you were having tea and you started this.
And you got to it and done!
[dramatic music plays]
I am out because of these two reasons.
All five sharks are out.
But we are inspired by you.
- We got to learn. - Good luck!
- Thank you! - All the best!
Best of luck!
- Guys, this is just unbelievable. - Unbelievable.
- What's happening is unbelievable. - What a flexible approach.
He was a bicycle manufacturer.
We wait
for IIT, IIM, CA, and Engineer students.
If people like him make a profitable business
you don't need all that.
After meeting them it makes it worth it to be on Shark Tank.
[upbeat music plays]
What do you think? Where did you go wrong? What was missing?
What went wrong is, when we entered
we applied lip balm and my mouth got dry.
That was bothering me.
I couldn't speak. Backstage they made me
apply lip balm. It made my mouth dry.
Dialogue delivery became weak.
Lip balm was problematic.
I agree! Hear me out, sir.
You should start making lip balms.
We already make it. It doesn't dry anyone's mouth.
Great! You should have applied your lip balm.
I had no idea they will make us apply lip balm.
Other than lip balm, do you think something...
No, their guidance will take help us grow.
- Whatever we've learnt here. - Sure.
We will try to improve. They said that packaging
was an issue, and we will work towards it.
Sure.
And it will be put to immediate effect.
- Immediately! - Tomorrow morning itself.
Sir, change the packaging once you leave.
- Done. - Right?
Sir, wishing you all the very best.
- Do very well! - Thank you.
- Take care.
Let's watch Shark Xperience!
'In Shark Xperience,
we will get to know the Sharks better.'
'The first question is for Shark Anupam Mittal.'
'Rajshri from Yavatmal, Maharashtra would like to ask
How did you know the potential of an innovative idea
that is Shaadi.com?
I used to live in the US.
I came to India for a vacation.
And in India,
when you are of a certain age
everyone comes together to get you married.
The same happened to me.
There were priests,
who came and showed pictures of potential suitors.
He carried a briefcase.