1 00:00:35,560 --> 00:00:38,440 [eerie music playing] 2 00:00:52,040 --> 00:00:54,800 [eerie music continues] 3 00:01:12,280 --> 00:01:13,960 - Wow! What an entry! - Whoa! 4 00:01:14,040 --> 00:01:15,160 [chuckling] 5 00:01:15,240 --> 00:01:18,640 Sharks, you must be wondering what I was just wearing. 6 00:01:18,720 --> 00:01:21,000 This is a new-age technology product 7 00:01:21,080 --> 00:01:24,000 that relieves you from your endless salon woes! 8 00:01:24,080 --> 00:01:25,040 Wow! 9 00:01:25,960 --> 00:01:28,720 By the way, Himanshu, do you know 10 00:01:28,880 --> 00:01:32,640 with whom every Indian woman shares a love-hate relationship? 11 00:01:34,520 --> 00:01:35,880 With her boyfriend? 12 00:01:36,040 --> 00:01:38,560 No, with the lady at the parlour! 13 00:01:38,640 --> 00:01:40,280 [laughter] 14 00:01:40,400 --> 00:01:42,160 "You have lots of blackheads." 15 00:01:42,320 --> 00:01:44,120 "You need a facial." 16 00:01:44,400 --> 00:01:46,920 "Ma'am, you have a lot of hair growth this time!" 17 00:01:47,120 --> 00:01:50,160 Hey! We don't wish to listen to your taunts! 18 00:01:50,240 --> 00:01:51,640 Neither do we have time to spare 19 00:01:51,720 --> 00:01:54,720 nor do we have the budget to get salon services done regularly. 20 00:01:55,760 --> 00:01:59,840 To get rid of all these problems, we present you with Winston. 21 00:02:00,000 --> 00:02:01,560 [upbeat music playing] 22 00:02:11,080 --> 00:02:14,320 Sharks, Winston manufactures beauty appliances 23 00:02:14,400 --> 00:02:16,400 that can be used at home 24 00:02:16,480 --> 00:02:18,640 and that give you salon-like results. 25 00:02:20,000 --> 00:02:23,600 We use the 3S strategy to achieve this. 26 00:02:29,120 --> 00:02:30,840 For instance, the face trimmer, eyebrow trimmer, 27 00:02:30,920 --> 00:02:33,240 blackhead remover and LED face mask. 28 00:02:39,440 --> 00:02:41,400 [euphoric music playing] 29 00:02:41,520 --> 00:02:45,760 This is a one-time investment that will last you for years. 30 00:02:45,880 --> 00:02:48,920 We come to you to fulfil this vision 31 00:02:49,000 --> 00:02:52,120 with the ask of Rs. 1 crore in exchange for 4% equity. 32 00:03:08,880 --> 00:03:11,920 Immediately within a span of a year, 33 00:03:12,000 --> 00:03:13,720 I started my own business 34 00:03:13,800 --> 00:03:16,960 of selling international products on Instagram 35 00:03:17,040 --> 00:03:18,800 which are not available in India. 36 00:03:20,400 --> 00:03:22,120 My dad was into another business. 37 00:03:22,200 --> 00:03:25,600 My Instagram business had seen a lot of expansion. 38 00:03:25,680 --> 00:03:27,480 I convinced my dad 39 00:03:27,560 --> 00:03:30,480 that this is the only business he should be doing. 40 00:03:30,560 --> 00:03:33,160 It took some convincing and this is our family business now. 41 00:03:33,240 --> 00:03:35,960 We run a skincare brand. 42 00:03:37,040 --> 00:03:38,120 Does he run Winston too? 43 00:03:38,200 --> 00:03:40,200 The business I started before marriage 44 00:03:40,280 --> 00:03:42,760 - was a skincare brand by the name Milagro Beauty. - Okay. 45 00:03:42,840 --> 00:03:47,640 With Himanshu's electronic expertise and my D2C expertise, 46 00:03:47,880 --> 00:03:49,480 we are running Winston. 47 00:03:49,560 --> 00:03:51,520 [intense music playing] 48 00:03:52,240 --> 00:03:55,720 - My family has a background in electronics. - Okay. 49 00:03:55,800 --> 00:03:59,240 My dad is a distributor for LG, Philips and other brands. 50 00:04:00,440 --> 00:04:01,680 I worked with him. 51 00:04:01,800 --> 00:04:04,760 He shared years of learnings with me. 52 00:04:04,840 --> 00:04:05,720 Okay. 53 00:04:06,080 --> 00:04:10,360 We conceived our baby Winston within a month of getting married. 54 00:04:10,440 --> 00:04:12,320 [laughter] 55 00:04:13,280 --> 00:04:14,960 Did you shut down your original business 56 00:04:15,040 --> 00:04:16,960 - and start a fresh one? - Dad runs it. 57 00:04:17,040 --> 00:04:18,440 You're out of that. 58 00:04:18,520 --> 00:04:19,880 - You'll do this. - That was her intention. 59 00:04:19,960 --> 00:04:21,680 - She's the troublemaker. - Culprit! 60 00:04:21,760 --> 00:04:23,760 - She's a serial entrepreneur. - Yes. 61 00:04:23,880 --> 00:04:25,400 How did you two meet? 62 00:04:25,600 --> 00:04:27,080 - Arranged marriage. - Oh. 63 00:04:27,160 --> 00:04:28,360 Wow! 64 00:04:28,960 --> 00:04:31,520 - That's rare these days. - Yes. 65 00:04:33,000 --> 00:04:35,080 Why this particular category? 66 00:04:35,160 --> 00:04:38,040 A new product comes out every day. 67 00:04:38,120 --> 00:04:41,320 As I mentioned earlier, I used to sell international brands. 68 00:04:41,920 --> 00:04:44,000 The lockdown was enforced soon after we got married. 69 00:04:44,080 --> 00:04:46,320 We noticed that the most demanding product 70 00:04:46,400 --> 00:04:49,480 that featured on our page was the face trimmer. 71 00:04:50,760 --> 00:04:52,720 That's when we had the idea 72 00:04:52,800 --> 00:04:55,200 of building our brand with this product. 73 00:04:56,960 --> 00:05:00,240 Do you manufacture and design these products yourself 74 00:05:00,360 --> 00:05:02,520 or do you import them and print your brand name on them? 75 00:05:02,560 --> 00:05:05,560 Sir, in layman's terms, we import the products... 76 00:05:05,640 --> 00:05:06,640 They're made in China! 77 00:05:06,720 --> 00:05:07,800 - Yes. - They're made in China. 78 00:05:07,920 --> 00:05:08,800 We tried... 79 00:05:08,880 --> 00:05:11,920 I was about to compliment you on the designs. 80 00:05:17,800 --> 00:05:19,160 They are very suggestive 81 00:05:19,720 --> 00:05:21,840 and very well-designed products. 82 00:05:24,040 --> 00:05:26,200 - Can we please... - Sure. 83 00:05:26,360 --> 00:05:28,560 [pleasant music playing] 84 00:05:29,320 --> 00:05:32,440 - What is this? - This is the LED therapy mask. 85 00:05:32,760 --> 00:05:34,400 Nice. This is what I want to try. 86 00:05:34,480 --> 00:05:37,880 Sir, I'd like you to try this. This is the pedicure at home. 87 00:05:38,240 --> 00:05:41,280 This is a face trimmer and this is the eyebrow trimmer. 88 00:05:41,480 --> 00:05:44,200 [euphoric music playing] 89 00:05:44,640 --> 00:05:46,280 - Wow! - [chuckling] 90 00:05:46,600 --> 00:05:48,600 Tell us about this product. 91 00:06:20,320 --> 00:06:22,280 - Did you feel anything? - No. 92 00:06:23,600 --> 00:06:24,600 What is the price? 93 00:06:27,640 --> 00:06:29,320 We have two face cleansers, ma'am. 94 00:06:29,400 --> 00:06:32,120 One costs Rs. 2090 and the other one is for Rs. 2990. 95 00:06:41,720 --> 00:06:44,000 The market is filled with trimmers costing Rs. 500. 96 00:06:44,080 --> 00:06:46,320 [intense music playing] 97 00:06:47,800 --> 00:06:50,640 Our products do not work on cells. 98 00:06:50,720 --> 00:06:52,280 This has an in-built battery. 99 00:06:52,360 --> 00:06:53,920 It's travel friendly... 100 00:06:54,000 --> 00:06:54,920 USB charging. 101 00:06:55,040 --> 00:06:56,320 - It comes with USB charging. - Yes. 102 00:06:56,400 --> 00:06:57,200 Wow, nice. 103 00:06:57,320 --> 00:07:00,000 - We offer one-year replacement warranty. - Hmm. 104 00:07:00,600 --> 00:07:01,920 - At your doorstep. - Doorstep service. 105 00:07:02,000 --> 00:07:03,640 - No service centre... - How many times? 106 00:07:03,640 --> 00:07:05,720 The biggest problem with these products is 107 00:07:05,840 --> 00:07:07,280 - that they stop working within 3 months. - Quality. 108 00:07:07,360 --> 00:07:11,240 Our complaint rate is lower than 0.5%. 109 00:07:11,320 --> 00:07:13,040 [intense music playing] 110 00:07:13,640 --> 00:07:15,960 How many factories are you associated with in China? 111 00:07:16,040 --> 00:07:17,120 We have two vendors. 112 00:07:17,200 --> 00:07:18,960 [tense music playing] 113 00:07:27,360 --> 00:07:28,560 Does that not scare you? 114 00:07:28,640 --> 00:07:30,640 - What... - What's to fear? We're building a brand, sir. 115 00:07:30,720 --> 00:07:31,720 Nice. 116 00:07:32,000 --> 00:07:33,800 - Perfect. - Wow! Well done. 117 00:07:35,360 --> 00:07:37,960 Do you relate to me in terms of our businesses? 118 00:07:38,040 --> 00:07:39,000 - Yes. - It's the same story. 119 00:07:39,080 --> 00:07:41,520 I feel like I'm standing there and pitching to investors. 120 00:07:41,640 --> 00:07:43,040 I have done the same thing! 121 00:07:44,520 --> 00:07:46,800 My dad owned a distribution business too. 122 00:07:46,920 --> 00:07:49,240 - Oh! - Then people... There are too many similarities! 123 00:07:49,320 --> 00:07:52,600 How far can you fight off competition and until when? 124 00:07:52,680 --> 00:07:55,400 What will your strategy be to go against all odds? 125 00:07:55,480 --> 00:07:57,520 A product alone is not enough to build a brand. 126 00:07:57,600 --> 00:07:59,960 If you want to build a brand, you need a product, 127 00:08:00,040 --> 00:08:02,600 you need a team and marketing in place. 128 00:08:02,680 --> 00:08:04,880 What kind of relations are you building with customers? 129 00:08:04,960 --> 00:08:05,920 Absolutely. 130 00:08:06,640 --> 00:08:08,480 What are your after sales services? 131 00:08:08,560 --> 00:08:10,560 How are you retaining customers? 132 00:08:10,640 --> 00:08:13,200 All these things put together make a brand. 133 00:08:13,280 --> 00:08:15,440 [intense music playing] 134 00:08:15,520 --> 00:08:16,880 What are your current numbers? 135 00:08:16,960 --> 00:08:20,960 Our total sales for last year was Rs. 1.20 crores 136 00:08:21,200 --> 00:08:22,480 - Okay. - Yes. 137 00:08:22,560 --> 00:08:26,560 We have done Rs. 1.50 crores till July 2022. 138 00:08:36,320 --> 00:08:37,480 So, total 46%. 139 00:08:37,600 --> 00:08:39,720 Or any other product that is more than 10%? 140 00:08:39,840 --> 00:08:41,360 - Callus remover. That is 20%. - Callus remover. 141 00:08:41,400 --> 00:08:43,000 How many other SKUs are there? 142 00:08:43,080 --> 00:08:44,360 - Total 8 SKUs. - 8. 143 00:08:44,480 --> 00:08:46,160 Will you go from 8 to 50? 144 00:08:46,960 --> 00:08:48,880 One or two products. Like I told you, 145 00:08:48,960 --> 00:08:51,320 we're coming up with a product that combines eyebrow and face... 146 00:08:51,400 --> 00:08:52,520 You might go up to 10. 147 00:08:52,520 --> 00:08:53,680 - You'll limit it to 10 in India, right? - 8 to... 148 00:08:53,760 --> 00:08:57,320 We wish to take the existing brand to a bigger level. 149 00:08:57,440 --> 00:08:59,640 What do you plan on achieving with 8 to 10 SKUs? 150 00:09:12,600 --> 00:09:15,720 Let me tell you about traded Chinese products 151 00:09:23,040 --> 00:09:24,080 Alright. 152 00:09:24,520 --> 00:09:28,120 Second, I wore your LED face mask and found it to be gimmicky! 153 00:09:29,560 --> 00:09:32,640 That one light promises detox, 154 00:09:32,720 --> 00:09:34,920 anti-ageing and collagen benefits. 155 00:09:35,000 --> 00:09:36,400 So, I found it gimmicky. 156 00:09:37,280 --> 00:09:39,480 It is not a joke to make Rs. 6 crores 157 00:09:39,560 --> 00:09:42,200 - out of a trading business. - Right. 158 00:09:42,320 --> 00:09:46,520 But I didn't find this business and the journey exciting. 159 00:09:46,600 --> 00:09:48,120 For that reason, I am out. 160 00:09:48,200 --> 00:09:50,240 [intense music playing] 161 00:09:50,320 --> 00:09:53,200 Let me remind you that Rs. 6 crores is your projection. 162 00:09:53,320 --> 00:09:54,160 Yes. 163 00:09:54,320 --> 00:09:56,880 - You've hit Rs. 1.5 crores now. - Correct. 164 00:09:57,320 --> 00:09:58,160 Yes. 165 00:09:58,280 --> 00:09:59,480 What were your sales in August 2022? 166 00:09:59,560 --> 00:10:03,400 Our target for the current month is Rs. 46 to 47 lakhs. 167 00:10:03,520 --> 00:10:04,760 [intense music playing] 168 00:10:04,840 --> 00:10:06,120 Is it sales or net revenue? 169 00:10:06,200 --> 00:10:07,600 This is MRP sales. 170 00:10:07,640 --> 00:10:08,760 - MRP sales. Okay. - Right. 171 00:10:08,800 --> 00:10:10,400 - I can give you the unit economics if you wish. - Yes. 172 00:10:10,520 --> 00:10:11,880 Please tell me briefly. 173 00:10:22,280 --> 00:10:25,120 Then add another 30% for discounts. 174 00:10:25,440 --> 00:10:26,280 Okay. 175 00:10:26,360 --> 00:10:29,680 - Our marketing spend was 15%. - Okay. 176 00:10:29,760 --> 00:10:31,680 The total comes to 75%. 177 00:10:32,760 --> 00:10:37,040 After that, add another 5% for salary and expenses. 178 00:10:38,080 --> 00:10:39,680 That comes up to 80%. 179 00:10:39,760 --> 00:10:41,040 From the remaining 20%, 180 00:10:41,080 --> 00:10:43,720 we deduct GST from the overall profit we make. 181 00:10:45,080 --> 00:10:47,680 [intense music playing] 182 00:10:47,960 --> 00:10:51,040 - No. GST is given on the top line, not on profit. - Not profit... 183 00:10:52,160 --> 00:10:54,000 - Actually... - Do you show cash sales? 184 00:10:54,120 --> 00:10:56,800 No. We pay GST on the net revenue 185 00:10:56,880 --> 00:10:59,960 from the sales we make or on the bill amount. 186 00:11:00,080 --> 00:11:00,960 - Yes. - Right? 187 00:11:01,080 --> 00:11:04,800 So, we deduct GST from this as per the calculation. 188 00:11:04,880 --> 00:11:06,640 [tense music playing] 189 00:11:06,760 --> 00:11:07,560 Sir! 190 00:11:07,680 --> 00:11:09,320 Himanshu told you the product cost 191 00:11:09,440 --> 00:11:11,280 - after adding GST. - I added the GST. 192 00:11:12,240 --> 00:11:13,880 Let me be very clear. 193 00:11:13,960 --> 00:11:17,360 I've lost complete interest because you can't explain it right. 194 00:11:19,680 --> 00:11:21,600 I was very excited about the category. 195 00:11:21,680 --> 00:11:23,560 You're not deducting GST from the net profit! 196 00:11:23,640 --> 00:11:24,600 I've never understood... 197 00:11:24,640 --> 00:11:26,480 What kind of concept is that, my friend? 198 00:11:28,640 --> 00:11:33,480 Basically, the percentage-wise cost we told you is inclusive of GST. 199 00:11:33,600 --> 00:11:34,800 Just give me a simple calculation. 200 00:11:34,880 --> 00:11:37,760 The GST is calculated on the top line, not the bottom line. 201 00:11:37,880 --> 00:11:39,880 [intense music playing] 202 00:11:39,960 --> 00:11:41,200 Don't mess around. 203 00:11:42,120 --> 00:11:44,760 How much money were you left with at home in July 2022? 204 00:11:57,080 --> 00:11:58,360 As this is a tough category, 205 00:11:58,440 --> 00:12:01,800 you need a partner who will help you with margin expansion. 206 00:12:02,640 --> 00:12:03,960 So, I am out. 207 00:12:04,280 --> 00:12:05,560 - Thank you. - Thank you. 208 00:12:05,840 --> 00:12:07,840 [tense music playing] 209 00:12:08,120 --> 00:12:09,680 I know we got into the business. 210 00:12:09,760 --> 00:12:11,720 But something has been bothering me. 211 00:12:11,840 --> 00:12:13,680 How did you end up in an arranged marriage? 212 00:12:13,760 --> 00:12:16,040 - I'm curious. - We're a Punjabi family. 213 00:12:16,120 --> 00:12:19,760 We have a mediator who has arranged many marriages. 214 00:12:19,920 --> 00:12:22,680 - Okay. - I wasn't aware that he was finding a girl for me. 215 00:12:22,760 --> 00:12:24,920 I received her picture. 216 00:12:25,040 --> 00:12:26,920 I obviously liked it and agreed to meet up, but... 217 00:12:27,000 --> 00:12:28,960 - I just wanted... - [laughter] 218 00:12:29,040 --> 00:12:30,440 Love your honesty! 219 00:12:30,520 --> 00:12:33,040 - I was the first match for her. - Yes. 220 00:12:33,160 --> 00:12:35,080 - For me, he was the first guy. - What about you? 221 00:12:35,160 --> 00:12:37,480 She was the seventh or eighth match for me. 222 00:12:37,800 --> 00:12:39,560 You liked her picture! 223 00:12:39,640 --> 00:12:41,200 - I had not even seen his photo. - Okay. 224 00:12:41,320 --> 00:12:43,240 - That mediator had come home. - [laughter] 225 00:12:43,360 --> 00:12:45,760 He was so persuasive. He insisted I meet the guy once. 226 00:12:45,840 --> 00:12:48,040 My parents said, "Go have a taste." 227 00:12:48,120 --> 00:12:50,800 - "See what arranged marriage is like." - "Go have a taste!" 228 00:12:51,120 --> 00:12:52,840 - As in what questions should be asked. - I love it. 229 00:12:52,960 --> 00:12:56,120 - I love it. - I was clueless about what to ask in an arranged marriage. 230 00:12:56,200 --> 00:12:58,360 - She came for the experience. - Yes. 231 00:12:58,440 --> 00:13:00,320 - Experience... - [hysterical laughter] 232 00:13:00,880 --> 00:13:03,520 - Taste! - I love your choice of words. 233 00:13:03,560 --> 00:13:05,320 - Amazing! - Taste! Experience! 234 00:13:05,400 --> 00:13:06,480 - She came for the experience... - Yes. 235 00:13:06,520 --> 00:13:10,560 But that eventually ended up with me wanting to marry her. 236 00:13:12,320 --> 00:13:14,600 I went to the mediator first thing after the meeting 237 00:13:14,720 --> 00:13:15,760 because he was my friend. 238 00:13:15,840 --> 00:13:17,560 I had her profile blocked with the note 239 00:13:17,600 --> 00:13:18,960 "not interested in marriage". 240 00:13:19,080 --> 00:13:21,000 - So that no other boy marries her. - [laughter] 241 00:13:21,160 --> 00:13:23,600 This actually happened. I'm not making it up. 242 00:13:23,720 --> 00:13:25,280 That mediator helped you find a business partner 243 00:13:25,320 --> 00:13:27,320 - as well as a life partner. - Yes. 244 00:13:27,440 --> 00:13:28,440 Fantastic. 245 00:13:30,560 --> 00:13:32,560 - You answer with such honesty. - Yes. 246 00:13:32,640 --> 00:13:34,800 - This tells a lot about... - Character. 247 00:13:34,880 --> 00:13:36,360 - The entrepreneur and character. - Beautiful. 248 00:13:36,440 --> 00:13:38,440 This is why I think you'll do very well. 249 00:13:39,120 --> 00:13:41,000 Okay, we'll offer you a deal. 250 00:13:41,120 --> 00:13:42,000 Alright. 251 00:13:43,840 --> 00:13:46,600 Vineeta and I... Interested, yes? 252 00:13:46,760 --> 00:13:48,920 [laughter] 253 00:13:49,480 --> 00:13:52,600 We will offer you the 1 crore 254 00:13:53,080 --> 00:13:55,400 but it won't be at a valuation of Rs. 25 crore. 255 00:13:56,720 --> 00:13:58,160 We will give you a fair valuation... 256 00:13:58,240 --> 00:14:00,960 - Yes. - It's as per today's market and that is Rs. 10 crores. 257 00:14:14,440 --> 00:14:15,360 Alright. 258 00:14:15,880 --> 00:14:18,800 I feel a great relatability with you both. 259 00:14:20,400 --> 00:14:21,640 Finance is not a big deal. 260 00:14:21,680 --> 00:14:23,920 You do get intimidated by the Sharks. 261 00:14:24,000 --> 00:14:25,800 But you know the finance part also. 262 00:14:26,720 --> 00:14:30,600 I cannot invest because I have a brand already 263 00:14:30,680 --> 00:14:32,560 which will be a competing business. 264 00:14:32,720 --> 00:14:34,000 I am out for now. 265 00:14:34,120 --> 00:14:35,880 [intense music playing] 266 00:14:35,960 --> 00:14:38,360 It's because of a conflict of interest. 267 00:14:38,480 --> 00:14:41,560 But it's very rare 268 00:14:41,760 --> 00:14:44,520 that I wish a competitor to do well. 269 00:14:44,920 --> 00:14:45,840 - Thank you. - Thank you. 270 00:14:45,920 --> 00:14:47,480 - Thank you. - All the best. I am out. 271 00:14:48,400 --> 00:14:51,320 - You have just one offer. - May we take two minutes? 272 00:14:51,400 --> 00:14:53,200 Yes. Don't take too long. 273 00:14:53,280 --> 00:14:54,240 - There is... - We'll take a minute. 274 00:14:54,320 --> 00:14:55,320 - Yes... - Okay. Well done. 275 00:14:55,360 --> 00:14:56,720 She said one minute and that's all you get. 276 00:14:56,800 --> 00:14:58,920 [intense music playing] 277 00:15:03,280 --> 00:15:05,840 - You can't do it. This after boAt. - I'm doing Misfit in boAt. 278 00:15:05,920 --> 00:15:07,920 - It's a conflict of interest. - Misfit by boAt. 279 00:15:08,240 --> 00:15:10,760 [intense music playing] 280 00:15:18,840 --> 00:15:20,000 - Sharks, done deal. - Done! 281 00:15:45,120 --> 00:15:46,480 You have to hit Rs. 6 crores this year. 282 00:15:46,560 --> 00:15:48,080 - Yes, definitely. - Definitely. 283 00:15:48,480 --> 00:15:50,640 [peppy song playing] 284 00:16:22,280 --> 00:16:24,520 [bubbling] 285 00:16:25,520 --> 00:16:26,880 - Flatheads! - Yes. 286 00:16:26,960 --> 00:16:28,720 It's a very famous company. 287 00:16:28,840 --> 00:16:31,320 Then their ask will be Rs. 1 crore for 0.5%. 288 00:16:31,400 --> 00:16:32,640 Yes, on the same lines. 289 00:16:33,560 --> 00:16:35,240 Rs. 1 crore for 0.5%. 290 00:16:35,320 --> 00:16:37,320 - What is their... What is their deal - They're an insane company. 291 00:16:37,440 --> 00:16:39,560 Have you heard of Atoms in the US? 292 00:16:39,600 --> 00:16:40,840 - Yes. - This is the Indian version. 293 00:16:40,920 --> 00:16:43,920 [theme music playing] 294 00:17:01,120 --> 00:17:04,080 [theme music fading] 295 00:17:06,480 --> 00:17:07,320 Sharks. 296 00:17:08,040 --> 00:17:11,000 What's the first thing you do when you come back home? 297 00:17:11,120 --> 00:17:12,480 You take off your shoes, right? 298 00:17:13,440 --> 00:17:14,640 It's so hot in India 299 00:17:14,720 --> 00:17:18,920 that when you wear shoes, you feel like your feet are in a microwave! 300 00:17:19,000 --> 00:17:20,480 There is zero ventilation 301 00:17:20,720 --> 00:17:23,440 which causes your shoes to stink! 302 00:17:23,520 --> 00:17:25,080 [intense music playing] 303 00:17:25,200 --> 00:17:26,560 Moreover, they are heavy. 304 00:17:26,680 --> 00:17:31,040 You feel like your shoes have chained you to the ground! 305 00:17:31,560 --> 00:17:33,440 You wear all kinds of clothes. 306 00:17:33,840 --> 00:17:35,800 But what are you most comfortable in? 307 00:17:36,120 --> 00:17:37,920 In your favourite T-shirts, right? 308 00:17:38,240 --> 00:17:41,880 We bring you that T-shirt-like feeling for your feet. 309 00:17:42,760 --> 00:17:43,800 Greetings, Sharks. 310 00:17:52,240 --> 00:17:54,880 We make T-shirts for your feet. 311 00:17:56,040 --> 00:17:59,120 Flatheads are made of completely natural and breathable materials. 312 00:17:59,200 --> 00:18:03,360 For instance banana fibre, linen, bamboo fibre and others. 313 00:18:05,760 --> 00:18:07,840 They let your feet breathe. 314 00:18:08,960 --> 00:18:09,880 [exhales] 315 00:18:10,240 --> 00:18:11,200 [chuckles] 316 00:18:11,800 --> 00:18:14,360 This sole conforms to world standards 317 00:18:14,440 --> 00:18:15,960 which makes them extremely light. 318 00:18:20,480 --> 00:18:22,600 These materials are completely sustainable. 319 00:18:43,600 --> 00:18:46,720 Our products range from slippers that cost Rs. 1000 320 00:18:47,120 --> 00:18:49,320 to the Rs. 5000 flagship banana range. 321 00:18:50,200 --> 00:18:51,320 One more thing. 322 00:18:51,440 --> 00:18:54,080 These shoes are made in India for the world. 323 00:18:54,200 --> 00:18:55,120 Nice. 324 00:18:55,240 --> 00:18:56,560 Our vision is 325 00:18:56,640 --> 00:18:59,440 to make Flatheads a truly international shoe brand. 326 00:18:59,520 --> 00:19:03,400 So, our ask is Rs. 75 lakhs for 3% equity. 327 00:19:11,320 --> 00:19:12,760 [chuckling] 328 00:19:13,280 --> 00:19:15,760 - Ganesh, welcome to Shark Tank. - Yes, thank you. 329 00:19:15,880 --> 00:19:18,120 You come across as a seasoned player. 330 00:19:18,160 --> 00:19:21,080 Your name gives the feeling that you're well-known. 331 00:19:21,200 --> 00:19:22,360 I was very excited. 332 00:19:22,440 --> 00:19:25,000 It looks like you have customers too. 333 00:19:25,200 --> 00:19:27,360 Tell us about your background first. 334 00:19:27,480 --> 00:19:29,600 I am a mechanical engineer from IIT Mumbai. 335 00:19:29,920 --> 00:19:32,000 I worked in the US after that. 336 00:19:32,080 --> 00:19:34,080 I am a refrigeration engineer. I'm a cool guy! 337 00:19:34,160 --> 00:19:35,640 [laughter] 338 00:19:35,720 --> 00:19:37,280 Good one. 339 00:19:38,160 --> 00:19:40,360 How many times have you used that line in your life? 340 00:19:40,520 --> 00:19:41,960 I just tried that out today. 341 00:19:42,040 --> 00:19:43,920 - Hey... - [laughter] 342 00:19:44,000 --> 00:19:46,120 - Always works. - One-millionth time! 343 00:19:46,160 --> 00:19:47,560 [laughter] 344 00:19:49,320 --> 00:19:50,920 I was in the leadership programme. 345 00:19:51,000 --> 00:19:53,840 I got a chance to set up an engineering centre for them 346 00:19:53,840 --> 00:19:55,360 in Bengaluru in 2004. 347 00:19:55,680 --> 00:19:57,680 I came to Bengaluru and did MBA. 348 00:19:57,800 --> 00:20:00,520 After MBA, I worked as a consultant for Bain & Company. 349 00:20:00,840 --> 00:20:03,160 Then I joined Honeywell in Bengaluru 350 00:20:03,240 --> 00:20:07,360 and we incubated a portfolio of 20 million dollars there 351 00:20:07,440 --> 00:20:09,840 - for India for India businesses. - Interesting. 352 00:20:09,920 --> 00:20:13,880 I met my co-founder there who is the designer. 353 00:20:13,960 --> 00:20:16,760 From there began our ten-year-long entrepreneurship journey 354 00:20:16,840 --> 00:20:18,240 in which we led three start-ups. 355 00:20:19,480 --> 00:20:22,720 We first launched Momoe, short for Mobile Money Everywhere. 356 00:20:22,800 --> 00:20:25,440 Then ShopClues acquired us. 357 00:20:25,520 --> 00:20:26,640 Did you make money? 358 00:20:26,760 --> 00:20:28,760 [intense music playing] 359 00:20:28,840 --> 00:20:30,360 It was a cash plus stock deal. 360 00:20:30,440 --> 00:20:32,200 - Okay. - We invested all the cash 361 00:20:32,200 --> 00:20:34,120 - in Flatheads. - You have that. 362 00:20:34,840 --> 00:20:36,200 Did the investors make money? 363 00:20:36,240 --> 00:20:38,200 The investors swapped stocks. 364 00:20:38,240 --> 00:20:40,120 Okay. So, they didn't make money. 365 00:20:40,200 --> 00:20:41,520 Okay, please continue. 366 00:20:43,040 --> 00:20:45,480 We made a profitable P&L there for two years. 367 00:20:45,600 --> 00:20:49,400 After the lock in, we exited ShopClues in 2018 368 00:20:49,520 --> 00:20:51,560 and that's when we came up with Flatheads. 369 00:20:51,640 --> 00:20:52,720 Why Flatheads? 370 00:20:54,520 --> 00:20:55,720 Why a shoe company? 371 00:20:55,800 --> 00:20:58,360 I've had the issue of reeking shoes 372 00:20:58,480 --> 00:21:01,080 and fitting problems for years now. 373 00:21:01,200 --> 00:21:02,880 I see. Personal experience. 374 00:21:03,480 --> 00:21:05,680 - Can we see or try some shoes? - Yes. Oh, yes. Absolutely. 375 00:21:05,760 --> 00:21:08,320 [piano playing] 376 00:21:10,200 --> 00:21:11,920 - Sorry... - That's the order. 377 00:21:12,960 --> 00:21:15,800 [sentimental music playing] 378 00:21:18,480 --> 00:21:20,760 I love your logo. 379 00:21:22,520 --> 00:21:24,520 - Thank you very much. - F as in Flatheads. 380 00:21:24,600 --> 00:21:26,280 Linen! Linen sneakers. 381 00:21:26,360 --> 00:21:27,280 These are linen. 382 00:21:28,240 --> 00:21:31,000 [pleasant music playing] 383 00:21:32,680 --> 00:21:34,480 Anupam, the best part about these shoes is, 384 00:21:34,560 --> 00:21:36,960 once you lace up, they become so stretchable 385 00:21:37,080 --> 00:21:38,760 that you can slip them on and off. 386 00:21:38,840 --> 00:21:41,600 - Your shoes are comfortable no doubt. - Yes. Comfortable. 387 00:21:41,960 --> 00:21:43,720 [thudding] 388 00:21:44,920 --> 00:21:47,640 If they get dirty, you can clean them in the washing machine. 389 00:21:47,720 --> 00:21:50,160 - You can dry them out like a T-shirt. - Yes. 390 00:21:50,560 --> 00:21:51,880 They're nice. They're very comfortable. 391 00:21:51,960 --> 00:21:55,120 - So, the comfort factor is present. - Yes. 392 00:21:55,320 --> 00:21:57,640 - Sure. - Don't you feel it lacks style? 393 00:21:58,600 --> 00:22:03,360 The sneaker community is mad about style and colour. 394 00:22:03,440 --> 00:22:05,600 So, why is that missing here? 395 00:22:05,680 --> 00:22:08,640 Yes. There are two types of customers, right? 396 00:22:08,720 --> 00:22:12,120 The customers that you pointed out are sneakerheads. 397 00:22:12,200 --> 00:22:14,080 The sneakers they buy 398 00:22:14,160 --> 00:22:17,720 - are limited edition Yeezies or Jordans. - Yes. 399 00:22:17,800 --> 00:22:20,000 Right? These sneakers... 400 00:22:20,080 --> 00:22:22,160 - Correct, I know. - They cost over Rs. 20,000. 401 00:22:22,240 --> 00:22:23,520 They collect them. 402 00:22:24,280 --> 00:22:26,200 Our shoes are exactly the opposite. 403 00:22:26,320 --> 00:22:28,680 - Yes. - You buy our shoes to wear them, 404 00:22:28,720 --> 00:22:29,800 not to collect them. 405 00:22:31,280 --> 00:22:34,160 And there are three categories. 406 00:22:34,240 --> 00:22:35,320 First are the basics 407 00:22:35,400 --> 00:22:37,280 available at affordable price points. 408 00:22:37,360 --> 00:22:39,920 Then comes the innovation range as you can see. 409 00:22:40,000 --> 00:22:41,680 [upbeat music playing] 410 00:22:41,760 --> 00:22:43,040 It is climate specific. 411 00:22:43,160 --> 00:22:46,320 For monsoon, we are doing a water-resistant sneaker as well. 412 00:22:46,400 --> 00:22:48,200 Then there is the collaboration range 413 00:22:48,280 --> 00:22:49,920 where we'll do limited editions. 414 00:22:50,000 --> 00:22:52,600 We've made two to three prototypes in collaboration. 415 00:22:52,680 --> 00:22:55,320 The discussions are also done, we just have to launch it. 416 00:22:55,400 --> 00:22:57,480 That's why I stand before you for the capital. 417 00:22:58,640 --> 00:23:00,880 Where is your co-founder? Why didn't he come? 418 00:23:01,000 --> 00:23:03,160 Actually, my co-founder and I had an agreement 419 00:23:03,240 --> 00:23:05,160 that for up to three and a half years, 420 00:23:05,240 --> 00:23:08,000 we'll do product detailing and innovation. 421 00:23:08,080 --> 00:23:09,640 We'll make a roadmap. 422 00:23:09,800 --> 00:23:11,720 After that, he wanted to make a transition. 423 00:23:11,800 --> 00:23:14,480 So, he's just stepped out and I'm running the company. 424 00:23:14,560 --> 00:23:16,200 How much equity does he hold? 425 00:23:16,280 --> 00:23:18,120 Both of us have 30% each. 426 00:23:18,240 --> 00:23:20,600 - Oh, wow! - Our angel investors hold 33%. 427 00:23:20,680 --> 00:23:24,160 - Will you buy back his 30%? - That's right. 428 00:23:26,160 --> 00:23:27,360 - I have two questions. - Sure. 429 00:23:27,440 --> 00:23:30,000 Firstly, FY 22 sales and margin. 430 00:23:30,240 --> 00:23:33,040 Secondly, you mentioned that you gave 33% to angels. 431 00:23:33,120 --> 00:23:35,320 What was the last valuation and round? 432 00:23:35,440 --> 00:23:40,280 In FY 22, our top line was Rs. 3.40 crores. 433 00:23:41,840 --> 00:23:45,040 Our cost of goods is 40%, Gross margin is 60%. 434 00:23:45,120 --> 00:23:47,400 Net of trade margins, we are at about 48%. 435 00:24:01,120 --> 00:24:02,720 - Namita, this is one of the highest performance... - Yes. 436 00:24:02,800 --> 00:24:04,200 - True. - The shoes are expensive! 437 00:24:04,280 --> 00:24:07,480 You spend Rs. 3000 on making a shoe that costs Rs. 5000. 438 00:24:09,160 --> 00:24:13,160 And for Rs. 3.40 crore sales, 439 00:24:13,240 --> 00:24:16,280 you've asked a valuation of Rs. 25 crores. 440 00:24:17,120 --> 00:24:18,680 What was your last round? 441 00:24:18,760 --> 00:24:21,400 That might help us understand why 25. 442 00:24:21,520 --> 00:24:23,880 - Sure. - Ask about this year's sale also. This was last year's. 443 00:24:23,960 --> 00:24:26,520 The last round we raised was exactly Rs. 5.2 crores. 444 00:24:33,680 --> 00:24:36,600 You're giving the same valuation of Rs. 25 crores again. 445 00:24:36,680 --> 00:24:38,600 [tense music playing] 446 00:24:38,720 --> 00:24:42,040 - We are offering you a valuation which is... - Less. 447 00:24:42,120 --> 00:24:44,360 A little lesser than the previous pre-money. 448 00:24:44,480 --> 00:24:47,480 Let me get to your question, Peyush. 449 00:24:48,880 --> 00:24:50,960 We're facing working capital constraints. 450 00:24:51,040 --> 00:24:54,360 We are not in a position, erm... 451 00:24:56,160 --> 00:24:57,880 Our runway is almost exhausted. 452 00:25:03,240 --> 00:25:05,240 - So... - How much money do you have in the bank? 453 00:25:05,560 --> 00:25:10,040 Actually, we have invested our money in the last two months. 454 00:25:11,320 --> 00:25:14,320 - Ouch! - Approximately Rs. 35 lakh each. 455 00:25:15,920 --> 00:25:17,040 Oh, boy! 456 00:25:17,200 --> 00:25:19,360 What are the current sales? 457 00:25:19,440 --> 00:25:22,040 Last month's sales were Rs. 15 lakh top line. 458 00:25:22,120 --> 00:25:23,520 What was last month's burn? 459 00:25:23,600 --> 00:25:24,800 Rs. 5.5 lakhs burn. 460 00:25:29,960 --> 00:25:33,800 Our plan is to focus on the international market. 461 00:25:33,920 --> 00:25:36,640 We launched it in the international market in October. 462 00:25:36,720 --> 00:25:39,600 We've done thorough research on the US and UAE markets. 463 00:25:40,040 --> 00:25:42,160 We get price support. We have a price advantage there. 464 00:25:43,880 --> 00:25:45,600 I'm also being opportunistic here. 465 00:25:45,720 --> 00:25:48,840 If over there, we get price support, unit economics 466 00:25:48,920 --> 00:25:54,160 and customers willing to buy such products for 70 or 80 dollars, 467 00:25:54,360 --> 00:25:57,160 - then why not? - So, your learning is that 468 00:25:57,200 --> 00:25:58,680 you don't have price support in India. 469 00:26:00,440 --> 00:26:02,680 Indians still don't wish to pay 470 00:26:02,760 --> 00:26:04,880 - a premium for sustainable products. - Exactly. 471 00:26:04,960 --> 00:26:07,240 We have innovations for India specifically 472 00:26:07,400 --> 00:26:08,840 which are at lower price points. 473 00:26:08,880 --> 00:26:10,880 [intense music playing] 474 00:26:11,640 --> 00:26:14,760 We wear dry-fit T-shirts to gyms. 475 00:26:14,840 --> 00:26:16,240 That material is used to make the shoe. 476 00:26:16,320 --> 00:26:19,640 So, we could introduce such innovations here 477 00:26:19,680 --> 00:26:21,200 at lower price points. 478 00:26:21,320 --> 00:26:23,480 We can launch them here for Rs. 2000 to 2500. 479 00:26:23,520 --> 00:26:24,800 - May I see it? - Sure. 480 00:26:28,360 --> 00:26:30,400 [intense music playing] 481 00:26:30,480 --> 00:26:31,280 - Very light. - Yes. 482 00:26:31,320 --> 00:26:33,160 I've had a question on my mind. 483 00:26:33,240 --> 00:26:35,960 - Yes. - 33% of your equity 484 00:26:36,040 --> 00:26:37,840 - is with investors, right? - Yes. 485 00:26:37,960 --> 00:26:41,720 Why aren't your investors coming along? 486 00:26:42,760 --> 00:26:44,080 Why did you come to us? 487 00:26:45,280 --> 00:26:46,880 Our angels are mostly investors. 488 00:26:46,960 --> 00:26:49,280 You know, it's an aggregation of small cheques. Right? 489 00:26:49,360 --> 00:26:51,520 - Such investors can't pitch... - Don't you have a big investor? 490 00:26:51,600 --> 00:26:54,080 We haven't yet been able to get the VC yet. 491 00:26:55,760 --> 00:26:57,840 Look, the investors are not foolish. 492 00:26:58,000 --> 00:26:59,520 - True. - How much money have you raised? 493 00:26:59,600 --> 00:27:00,840 To date, we've raised Rs. 10.2 crores. 494 00:27:00,920 --> 00:27:02,640 No one writes off Rs. 10 crores. 495 00:27:03,960 --> 00:27:06,440 It would be right to say that the investors 496 00:27:06,520 --> 00:27:08,640 have written down this investment. 497 00:27:08,720 --> 00:27:11,440 "You see what to do. We won't invest further." 498 00:27:11,600 --> 00:27:13,760 [intense music playing] 499 00:27:13,840 --> 00:27:14,760 Correct? 500 00:27:15,360 --> 00:27:19,320 According to the investors if the company were to shut down... 501 00:27:19,600 --> 00:27:20,880 The company could shut down. 502 00:27:23,240 --> 00:27:26,200 The consumer is akin to God. 503 00:27:27,320 --> 00:27:30,440 I always say this but people keep forgetting. 504 00:27:45,400 --> 00:27:47,200 - You need nothing else in life. - Yes. 505 00:27:47,280 --> 00:27:50,760 The basics were missing in your business. 506 00:27:51,600 --> 00:27:52,680 Feedback taken, Aman. 507 00:27:52,760 --> 00:27:54,960 I think we need to learn from people like you. 508 00:27:55,840 --> 00:27:57,560 - You set up two companies. Okay? - Yes. 509 00:27:57,640 --> 00:28:00,280 - Yes. - Neither one had a positive outcome 510 00:28:00,280 --> 00:28:01,760 which is by chance. 511 00:28:02,120 --> 00:28:04,960 Where do you think it went wrong? 512 00:28:06,640 --> 00:28:09,320 Peyush, I admit that I am not the best entrepreneur in the world. 513 00:28:09,400 --> 00:28:10,560 I never said that. 514 00:28:10,680 --> 00:28:14,760 No, it is... So, there is also erm... 515 00:28:15,640 --> 00:28:16,520 How do I put it? 516 00:28:17,680 --> 00:28:19,440 It has to be luck meeting opportunity. 517 00:28:19,560 --> 00:28:20,680 Timing is the most important. 518 00:28:20,680 --> 00:28:23,000 Hats off to your perseverance. 519 00:28:23,080 --> 00:28:26,480 - Which is good. - Your honesty is phenomenal. 520 00:28:26,600 --> 00:28:29,920 - Thank you very much. - No nonsense. Honest. Very good. 521 00:28:30,360 --> 00:28:34,080 So, it is not that... Erm... 522 00:28:38,400 --> 00:28:39,960 That I... 523 00:28:41,120 --> 00:28:42,320 Can't run a company. 524 00:28:43,880 --> 00:28:45,200 I am capable of it 525 00:28:45,280 --> 00:28:48,080 and I have set up many companies under other companies. 526 00:28:48,200 --> 00:28:50,960 The thing is when you step into the market 527 00:28:51,160 --> 00:28:53,680 and for four months 528 00:28:55,120 --> 00:28:56,480 nobody is wearing shoes, 529 00:28:56,560 --> 00:28:58,240 because people are not leaving their homes. 530 00:28:58,480 --> 00:29:01,960 Such situations occur once in generations, 531 00:29:02,040 --> 00:29:03,240 and it happened to us. 532 00:29:03,320 --> 00:29:05,360 [sombre music playing] 533 00:29:06,240 --> 00:29:09,080 - Ganesh, I've made my decision. - Yes. Sure. 534 00:29:09,120 --> 00:29:11,080 [intense music playing] 535 00:29:11,160 --> 00:29:12,840 The pedigree is great. 536 00:29:13,520 --> 00:29:15,240 Even the designs you've made, 537 00:29:15,400 --> 00:29:18,040 muted and minimalistic, I loved them. 538 00:29:18,400 --> 00:29:21,360 But as an investor, do you know what my fear is? 539 00:29:21,600 --> 00:29:24,920 It'll take time to revive something that hasn't succeeded in years. 540 00:29:26,600 --> 00:29:29,240 In three to four months, I will run out of money 541 00:29:29,400 --> 00:29:31,000 and the business will shut down too. 542 00:29:32,440 --> 00:29:34,440 And for that reason, I'm out. 543 00:29:36,880 --> 00:29:38,760 What will you do with Rs. 75 lakhs? 544 00:29:39,040 --> 00:29:40,560 We plan on using this Rs. 75 lakhs 545 00:29:40,680 --> 00:29:44,960 to introduce the inventory of our first set of shoes 546 00:29:45,720 --> 00:29:46,800 in the international market. 547 00:29:46,880 --> 00:29:49,000 - Ouch! - Ouch! No. 548 00:29:51,240 --> 00:29:55,360 We plan on growing our business from 10% to 30%. 549 00:29:55,440 --> 00:29:57,200 [intense music playing] 550 00:29:57,360 --> 00:30:01,000 Ganesh, you know this situation of no money in the bank account, 551 00:30:01,080 --> 00:30:03,680 paying salaries out of your pocket... 552 00:30:03,760 --> 00:30:04,920 I've come across it many times. 553 00:30:14,240 --> 00:30:16,560 Given the stage you have reached, 554 00:30:16,640 --> 00:30:19,200 you don't seem to have achieved the product-market fit 555 00:30:19,320 --> 00:30:21,600 because this has quality and finish issues. 556 00:30:21,720 --> 00:30:23,280 You are still at a stage 557 00:30:23,360 --> 00:30:25,600 where you have not achieved product-market fit. 558 00:30:25,680 --> 00:30:29,760 You speak of America, but that isn't even your market! 559 00:30:29,880 --> 00:30:34,080 So, you know... You seem lost. 560 00:30:34,160 --> 00:30:35,960 [intense music playing] 561 00:30:36,040 --> 00:30:38,640 Four Sharks are left now. 562 00:30:38,720 --> 00:30:42,720 We fear that our Rs. 75 lakhs 563 00:30:42,840 --> 00:30:45,160 will also go down the drain just like your Rs. 10 crores. 564 00:30:45,240 --> 00:30:47,320 [intense music playing] 565 00:30:47,560 --> 00:30:51,720 Tell me what is the first and last duty of an entrepreneur. 566 00:30:51,960 --> 00:30:53,800 The fundamental duty of an entrepreneur. 567 00:30:53,880 --> 00:30:56,120 The fundamental duty is to his stakeholders 568 00:30:56,200 --> 00:30:59,280 whether it is his investors, his... 569 00:30:59,360 --> 00:31:01,040 The fundamental duty is survival. 570 00:31:01,360 --> 00:31:03,320 [intense music playing] 571 00:31:04,680 --> 00:31:07,280 - It's survival. Yes. Agreed. Yes. - Sustaining the business. 572 00:31:07,360 --> 00:31:08,360 - Correct? - Yes. 573 00:31:13,400 --> 00:31:14,240 Got it. 574 00:31:15,000 --> 00:31:17,400 There comes a time in one's life when you need to decide 575 00:31:17,480 --> 00:31:18,800 that you don't want to do something 576 00:31:18,880 --> 00:31:19,840 or do something else, 577 00:31:19,920 --> 00:31:21,240 - or move on. - Yes. 578 00:31:21,320 --> 00:31:23,440 Do you ever feel this way at times? 579 00:31:25,000 --> 00:31:25,800 I sure do, sir. 580 00:31:25,880 --> 00:31:28,040 What do you do? How do you react? 581 00:31:28,280 --> 00:31:31,320 Self-doubt is very normal in entrepreneurs. 582 00:31:32,160 --> 00:31:34,960 When a situation arises where you have to wind down the business, 583 00:31:35,040 --> 00:31:37,000 - of course self-doubt manifests. - Correct. 584 00:31:37,080 --> 00:31:38,560 Did you try to find a job? 585 00:31:38,640 --> 00:31:40,080 [intense music playing] 586 00:31:40,160 --> 00:31:41,120 During this time? 587 00:31:41,200 --> 00:31:44,040 No. I am thinking of it, 588 00:31:44,120 --> 00:31:46,520 but I have not actively started looking for a job yet. 589 00:31:48,040 --> 00:31:49,800 I'm contemplating. I've spoken to a couple of friends... 590 00:31:49,920 --> 00:31:50,920 - But it is not bad. - About what I should do. 591 00:31:51,040 --> 00:31:52,000 Let me tell you. 592 00:31:52,080 --> 00:31:53,440 - Doing a job is not bad. - Yes. 593 00:31:53,560 --> 00:31:55,200 It's not negative. It is positive. 594 00:31:55,280 --> 00:31:56,480 - I'll tell you why. - Okay. 595 00:31:57,320 --> 00:31:59,360 I didn't have money left or investors to back me up. 596 00:31:59,440 --> 00:32:00,880 I closed down my company. 597 00:32:02,720 --> 00:32:05,000 I moved on and worked for two to three years. 598 00:32:06,040 --> 00:32:07,320 I saved some money. 599 00:32:07,560 --> 00:32:09,560 I restarted with that investment. 600 00:32:09,640 --> 00:32:11,080 [euphoric music playing] 601 00:32:17,040 --> 00:32:18,200 - Yes. - It's not a negative. 602 00:32:18,280 --> 00:32:20,400 It's a good exit to life. 603 00:32:20,520 --> 00:32:22,680 [euphoric music playing] 604 00:32:23,240 --> 00:32:26,640 It's simple. If I don't get the funding... 605 00:32:26,880 --> 00:32:28,160 I don't have money as it is. 606 00:32:28,440 --> 00:32:31,200 I might start looking for a job. 607 00:32:31,280 --> 00:32:34,720 And when I get the chance, I will start afresh. 608 00:32:36,200 --> 00:32:38,200 Could you tell me about your life stages? 609 00:32:39,720 --> 00:32:41,880 What is your family situation? 610 00:32:42,160 --> 00:32:44,000 Do you have kids? How is it? 611 00:32:44,120 --> 00:32:45,800 - I am married. - Okay. 612 00:32:46,960 --> 00:32:49,800 Um, my wife is working. She is a software engineer. 613 00:32:49,920 --> 00:32:52,160 She works in a German OEM company. 614 00:32:52,280 --> 00:32:53,600 Does that cover the expenses? 615 00:32:53,720 --> 00:32:54,800 - Yes. - Okay. 616 00:32:54,920 --> 00:32:58,080 - She earns and I spend the money! - Okay. 617 00:32:58,520 --> 00:33:00,520 I have a daughter who is ten 618 00:33:29,800 --> 00:33:32,000 but if you want to get back on your feet, 619 00:33:32,480 --> 00:33:34,720 I have an open offer for you for a job. 620 00:33:34,800 --> 00:33:37,160 [sentimental music playing] 621 00:33:38,960 --> 00:33:42,600 When you're ready, I'll be happy to invest in building a D2C brand. 622 00:33:44,120 --> 00:33:46,320 Right? I want you to land back on your feet. 623 00:33:46,440 --> 00:33:47,320 Got it. 624 00:33:48,080 --> 00:33:49,120 That's my offer. 625 00:33:49,320 --> 00:33:50,760 - But you're out of Flatheads. - Thank you. 626 00:33:50,840 --> 00:33:52,520 But I'm out of today's deal. 627 00:33:52,600 --> 00:33:55,440 [sentimental music playing] 628 00:33:56,240 --> 00:33:59,720 I have been saying the same thing from the beginning. 629 00:34:00,200 --> 00:34:03,360 The basics are missing in this company. 630 00:34:04,080 --> 00:34:05,600 I'll bet on you, but not on your company. 631 00:34:05,680 --> 00:34:06,760 Sorry, I'm out. 632 00:34:08,040 --> 00:34:10,560 [sombre music playing] 633 00:34:11,200 --> 00:34:13,240 Let me tell you that I am keen. 634 00:34:25,880 --> 00:34:28,160 to doing whatever is necessary 635 00:34:28,280 --> 00:34:30,560 to get this company to the next stage. 636 00:34:30,680 --> 00:34:32,880 [intense music playing] 637 00:34:33,360 --> 00:34:37,240 Including getting people, offering them equity... 638 00:34:37,320 --> 00:34:39,760 - who can take this to the next stage. - Yes. 639 00:34:39,800 --> 00:34:41,960 - We won't sell shoes in the US. - Yes. 640 00:34:42,040 --> 00:34:45,200 After the funds come in, the marketing must be down to zero. 641 00:34:45,280 --> 00:34:47,360 - You need to restart the company. - Yes. 642 00:34:47,440 --> 00:34:51,880 - This Rs. 75 lakhs is almost like a restart. - Got it. 643 00:34:52,000 --> 00:34:55,200 And this is a non-negotiable offer. 644 00:34:55,280 --> 00:34:56,200 Got it. 645 00:34:56,880 --> 00:35:00,680 Ganesh, you mentioned India's tropical climate. 646 00:35:00,800 --> 00:35:02,200 And that you wish to make shoes for Indians. 647 00:35:02,320 --> 00:35:04,200 That was Sugar's starting point 648 00:35:04,320 --> 00:35:06,600 that they wanted to manufacture lipsticks for the tropical weather. 649 00:35:06,680 --> 00:35:08,200 - Okay. - Having said that 650 00:35:08,360 --> 00:35:10,520 we don't succeed until we are in the right place at the right time. 651 00:35:10,640 --> 00:35:13,760 We must first go to the wrong places at the right time and vice versa. 652 00:35:13,880 --> 00:35:15,760 [ethereal music] 653 00:35:15,880 --> 00:35:17,400 Where exactly you are in your journey is something I can't fathom. 654 00:35:17,520 --> 00:35:20,440 I have no clue how close you're to 'the right place at the right time.' 655 00:35:20,560 --> 00:35:24,760 But the fact is that because you have faced so many failures. 656 00:35:25,000 --> 00:35:27,640 You have the potential for sure. 657 00:35:35,320 --> 00:35:36,480 the first step is, 658 00:35:36,560 --> 00:35:38,080 without burning any money would be product marketing. 659 00:35:38,200 --> 00:35:40,680 [ethereal music] 660 00:35:42,960 --> 00:35:44,680 - Can I give it some thought? - Sure! 661 00:35:47,440 --> 00:35:49,120 You are a Master in this. 662 00:35:49,560 --> 00:35:51,200 - I know... - I mean you're like a God in this... 663 00:35:51,320 --> 00:35:53,360 Peyush, Aman said something really nice. 664 00:35:53,480 --> 00:35:55,480 - If it's not a succeeding close it down. - Close it down! 665 00:35:55,600 --> 00:35:57,040 [suspenseful music] 666 00:35:57,160 --> 00:35:58,880 'It's definitely a decent offer.' 667 00:36:10,800 --> 00:36:13,400 [suspenseful music] 668 00:36:17,320 --> 00:36:19,440 Even in my company, if somebody wants to leave 669 00:36:19,560 --> 00:36:21,080 because they are getting a better offer, I say please go 670 00:36:21,200 --> 00:36:22,960 Because I don't have money for you. 671 00:36:23,080 --> 00:36:24,880 [suspenseful music] 672 00:36:29,760 --> 00:36:31,000 What do you want to do? Do you want to pull back? 673 00:36:31,120 --> 00:36:33,520 - She has already offered. - He will accept. 674 00:36:33,640 --> 00:36:35,160 Yes, he will. 675 00:36:35,280 --> 00:36:37,200 [suspenseful music] 676 00:36:40,280 --> 00:36:42,480 Aman, Anupam, Peyush, 677 00:36:42,560 --> 00:36:44,840 Vineeta, and Namita, thank you very much. 678 00:36:45,000 --> 00:36:50,000 All of you really thought through this 679 00:36:50,320 --> 00:36:52,320 and made pertinent comments. 680 00:36:52,440 --> 00:36:55,320 Um, I think I... 681 00:37:20,400 --> 00:37:22,280 - '- You have enough time. - It's no big deal.' 682 00:37:22,400 --> 00:37:24,760 [ethereal music] 683 00:37:34,400 --> 00:37:36,880 [melancholic music] 684 00:37:48,680 --> 00:37:52,000 [melancholic music] 685 00:37:52,400 --> 00:37:57,600 Actually, I have been revaluating this for the last few days 686 00:37:57,920 --> 00:37:59,240 But 687 00:38:00,160 --> 00:38:02,080 talking about the business in so much detail 688 00:38:02,320 --> 00:38:04,480 with the people who have been there and done that 689 00:38:07,120 --> 00:38:10,920 and understanding that I'm very far from where I want to be. 690 00:38:11,200 --> 00:38:15,040 And my thinking about the direction this business needs... 691 00:38:15,360 --> 00:38:17,920 [vocalising] 692 00:38:19,920 --> 00:38:23,200 Maybe choosing this is not the best way forward. 693 00:38:23,320 --> 00:38:25,080 And it's something that's clear to me now. 694 00:38:25,200 --> 00:38:26,760 It wasn't clear until today. 695 00:38:26,840 --> 00:38:28,960 I think I got clarity regarding that. 696 00:38:29,240 --> 00:38:31,480 And I want to thank you for this. 697 00:38:31,720 --> 00:38:35,280 And yes, I'll definitely go back and do something 698 00:38:35,400 --> 00:38:37,480 so that I can come back and do D2C again. 699 00:38:38,080 --> 00:38:41,080 [melancholic music] 700 00:38:53,200 --> 00:38:54,480 - '- Yes! - Right?' 701 00:38:54,600 --> 00:38:57,400 [melancholic music] 702 00:38:57,520 --> 00:38:59,680 - You are an amazing guy. '- An amazing guy' 703 00:39:06,000 --> 00:39:09,200 - Totally! - And a true entrepreneur is someone who keeps getting up 704 00:39:09,320 --> 00:39:10,240 despite taking constant hits! 705 00:39:10,320 --> 00:39:12,080 You are down but not out, my friend. 706 00:39:12,200 --> 00:39:13,240 Yes! 707 00:39:13,880 --> 00:39:16,760 [mellow music] 708 00:39:17,360 --> 00:39:20,120 - Just go with an open mind about your next step. - Sure. 709 00:39:20,240 --> 00:39:22,520 - Right? That's all... - We wish you the best. 710 00:39:22,600 --> 00:39:24,640 - Thank you! - And you're a great guy. 711 00:39:24,720 --> 00:39:26,400 - Thank you very much! - Thank you so much! 712 00:39:26,480 --> 00:39:28,080 - We salute you. - Believe in yourself. 713 00:39:28,160 --> 00:39:30,680 - Good job! - Best of luck! Let's... 714 00:39:30,760 --> 00:39:33,120 - Let's meet him at least. - Good job! 715 00:39:33,200 --> 00:39:34,160 Let's go. 716 00:39:34,240 --> 00:39:37,400 - Listen! Believe in yourself. Okay? - Thank you! 717 00:39:37,520 --> 00:39:39,440 - Bye, bro! - Thank you, sir! 718 00:39:40,880 --> 00:39:43,440 I have been in your shoes. [chuckling] 719 00:39:47,240 --> 00:39:50,600 [inspirational music] 720 00:39:50,720 --> 00:39:52,760 You've made all us emotional.. 721 00:39:52,880 --> 00:39:54,280 Take care! 722 00:39:54,720 --> 00:39:57,240 [inspirational music] 723 00:53:47,960 --> 00:53:49,920 Let's watch Shark Xperience. 724 00:53:50,040 --> 00:53:54,240 'We will get to know the Sharks in depth in Shark Xperience.' 725 00:53:54,320 --> 00:53:58,800 'Vineeta, Nishit from Kota, Rajasthan, wants to ask a question.' 726 00:53:59,800 --> 00:54:02,240 'When an entrepreneur realises' 727 00:54:02,320 --> 00:54:05,200 'that his company has suffered a loss, ' 728 00:54:05,320 --> 00:54:06,960 'what should he do?' 729 00:54:07,040 --> 00:54:11,040 'Should he shut down his company or try harder?' 730 00:54:11,640 --> 00:54:14,680 Hi, Nishit! In every company's journey, 731 00:54:14,800 --> 00:54:17,280 there are near-death experiences. 732 00:54:17,360 --> 00:54:19,200 So one must try.