1 00:00:35,360 --> 00:00:38,440 [theme music playing] 2 00:00:55,880 --> 00:00:58,480 [theme music continues] 3 00:01:20,640 --> 00:01:22,960 [theme music fading] 4 00:01:29,200 --> 00:01:31,560 The seasons change every four months, 5 00:01:31,680 --> 00:01:34,080 but girls change boyfriends every two months. 6 00:01:34,160 --> 00:01:35,680 [hysterical laughter] 7 00:01:35,800 --> 00:01:38,120 Whereas our mood changes every hour. 8 00:01:39,200 --> 00:01:41,640 When changing everything else is so easy, 9 00:01:41,760 --> 00:01:44,000 why should changing your hair colour be difficult? 10 00:01:45,760 --> 00:01:47,320 Hi, Sharks. I am Yushika. 11 00:01:51,200 --> 00:01:55,480 Paradyes brings you a colourful and instant twist for your hair. 12 00:01:56,000 --> 00:01:58,760 [upbeat music playing] 13 00:02:08,520 --> 00:02:10,800 [upbeat music continues] 14 00:02:23,920 --> 00:02:26,240 They last for 8 to 10 washes 15 00:02:29,520 --> 00:02:31,080 [Sharks laugh] 16 00:02:31,280 --> 00:02:33,480 Stunning hair, all of you. Stunning. 17 00:02:33,680 --> 00:02:36,720 You can purchase our products on our website 18 00:02:36,880 --> 00:02:38,720 www.birdsofparadyes.com. 19 00:02:41,040 --> 00:02:42,320 We're also available on online marketplaces 20 00:02:55,920 --> 00:02:59,360 Our Instagram community has over 60,000 followers. 21 00:02:59,440 --> 00:03:00,320 Excellent. 22 00:03:01,600 --> 00:03:02,800 Our main vision 23 00:03:02,880 --> 00:03:06,560 is to break any and all stereotypes related to hair colour. 24 00:03:06,680 --> 00:03:09,000 And to normalise hair colouring like make-up 25 00:03:09,080 --> 00:03:10,640 and make it accessible to the masses. 26 00:03:10,720 --> 00:03:12,800 [pleasant music playing] 27 00:03:12,920 --> 00:03:16,800 Our ask is Rs. 65 lakhs for 1% equity. 28 00:03:16,880 --> 00:03:17,760 Wow! 29 00:03:22,080 --> 00:03:23,320 She means your hair. 30 00:03:24,640 --> 00:03:26,560 We would like to give you a brief description 31 00:03:26,640 --> 00:03:28,920 of who has applied what along with the styling. 32 00:03:29,080 --> 00:03:30,120 First off, we have Sia. 33 00:03:32,040 --> 00:03:34,280 She must have bleached her hair before dyeing it. 34 00:03:34,360 --> 00:03:36,240 - Yes. - She did bleach her hair until it was brown. 35 00:03:36,320 --> 00:03:38,240 That is just 15 to 20 minutes of bleaching 36 00:03:38,320 --> 00:03:39,320 which is not really damaging. 37 00:03:41,600 --> 00:03:43,880 - Colours don't show on black hair. - They don't. 38 00:03:44,240 --> 00:03:46,600 - Then we have Shubham. - Hi, Sharks. 39 00:03:46,920 --> 00:03:48,520 Whoa! Lovely. 40 00:03:49,520 --> 00:03:51,840 [peppy music playing] 41 00:04:00,480 --> 00:04:02,080 - Wow! - My God! 42 00:04:02,240 --> 00:04:04,320 You've given headhunting a new meaning! 43 00:04:04,400 --> 00:04:06,200 [unanimous laughter] 44 00:04:08,520 --> 00:04:11,120 Siddharth has coloured his hair too. He's my co-founder and husband. 45 00:04:11,200 --> 00:04:12,880 - Wow! - I can't tell. 46 00:04:13,080 --> 00:04:15,200 - Yes, because it's a very deep shade of navy. - Yes. 47 00:04:20,160 --> 00:04:21,200 Impossible. 48 00:04:24,840 --> 00:04:25,880 - He... - [laughter] 49 00:04:26,240 --> 00:04:28,960 I used to study in Canada and I had come to India for a while. 50 00:04:29,040 --> 00:04:33,080 I went for a haircut. My hair stylist gave me red streaks. 51 00:04:34,240 --> 00:04:35,960 - How did... - I went to Canada like that. 52 00:04:36,040 --> 00:04:38,400 The colour faded over three months. 53 00:04:38,520 --> 00:04:40,880 - From red to light red to orange! - Copper. 54 00:04:41,000 --> 00:04:42,400 My God! 55 00:04:42,520 --> 00:04:45,200 People used to call me a redhead! 56 00:04:45,360 --> 00:04:47,080 And my hair used to be this long. 57 00:04:47,160 --> 00:04:48,000 What! 58 00:04:49,400 --> 00:04:50,320 Yushika and Siddharth, 59 00:04:50,400 --> 00:04:52,280 - welcome to Shark Tank. - Thank you. 60 00:04:52,360 --> 00:04:54,320 Before we get more into business, 61 00:04:54,440 --> 00:04:57,560 tell us what you both did before this 62 00:04:57,680 --> 00:04:59,280 and when you got married. 63 00:05:10,720 --> 00:05:12,960 So, I used to take dyes and colour my own hair. 64 00:05:13,680 --> 00:05:15,400 Your father had a factory of colours! 65 00:05:15,480 --> 00:05:17,680 He had a factory of specialty chemicals 66 00:05:17,760 --> 00:05:19,920 that manufactured dyes for textiles and hair. 67 00:05:20,000 --> 00:05:22,040 - You'd apply that colour to your hair. - Yes, I would. 68 00:05:22,120 --> 00:05:24,200 - How old were you? - I think I was 17. 69 00:05:24,360 --> 00:05:25,480 - Wow! - Crazy teen. 70 00:05:25,560 --> 00:05:26,480 Crazy. 71 00:05:39,560 --> 00:05:40,800 We met on Tinder. 72 00:05:41,080 --> 00:05:42,960 - Wow! - Wow! 73 00:05:43,520 --> 00:05:45,360 That is your real competition. 74 00:05:45,480 --> 00:05:47,320 [unanimous laughter] 75 00:06:03,520 --> 00:06:07,080 After that, I went to Pune for my MBA. 76 00:06:07,320 --> 00:06:10,320 I started working with Siemens Financial Services. 77 00:06:10,440 --> 00:06:12,280 Owing to family complications, 78 00:06:12,360 --> 00:06:14,640 I took a transfer from Pune to Ahmedabad. 79 00:06:15,440 --> 00:06:16,920 That is when I met her. 80 00:06:18,000 --> 00:06:19,600 We instantly hit it off. 81 00:06:19,680 --> 00:06:21,320 We used to talk a lot. 82 00:06:21,400 --> 00:06:23,640 Hair colouring was the core topic to talk about. 83 00:06:23,840 --> 00:06:28,040 Eventually, she shared her plan about setting up a company. 84 00:06:28,120 --> 00:06:31,680 I resigned from my job at Siemens eventually. 85 00:06:32,480 --> 00:06:36,000 We established Paradyes in the year 2020. 86 00:06:36,080 --> 00:06:39,440 All the R&D on formulations took place in Ankleshwar. 87 00:06:39,560 --> 00:06:43,800 We finally began operations at the end of March 2021. 88 00:06:44,520 --> 00:06:46,960 Do you think this is here to stay or is it just a fad? 89 00:06:47,040 --> 00:06:48,400 - No, definitely. - Definitely. 90 00:06:48,480 --> 00:06:50,080 India is a young nation now. 91 00:06:50,160 --> 00:06:52,520 The people becoming parents nowadays are millennials. 92 00:06:52,600 --> 00:06:56,200 - They are not as strict as our parents used to be. - Yes. 93 00:06:56,320 --> 00:07:01,840 There are many girls in my office with rainbow-coloured hair. 94 00:07:01,920 --> 00:07:05,800 There must be around 30 to 40 girls with bright hair colours. 95 00:07:06,160 --> 00:07:07,800 [music playing] 96 00:07:08,080 --> 00:07:10,320 - Can I see your packaging and products? - Yes. 97 00:07:10,440 --> 00:07:12,960 [pleasant music playing] 98 00:07:17,800 --> 00:07:19,880 Your packaging is extremely cool. 99 00:07:20,240 --> 00:07:22,240 - Very nice. - It's terrific. 100 00:07:22,520 --> 00:07:24,240 - And good pricing. - Yes. 101 00:07:24,320 --> 00:07:27,000 - Rs. 1190 for the combo. - Yes. 102 00:07:33,880 --> 00:07:35,760 [intense music playing] 103 00:07:36,160 --> 00:07:38,640 Suppose I'm a consumer and I wish to colour my hair. 104 00:07:38,760 --> 00:07:42,600 Tell me what my options are and what the market size is. 105 00:07:42,920 --> 00:07:46,960 Permanent colour is the most common with the biggest market. 106 00:07:47,440 --> 00:07:50,800 The players are Godrej, L'Oréal, and Streax. 107 00:07:50,880 --> 00:07:52,280 How big is that market? 108 00:07:53,000 --> 00:07:54,920 It ranges between Rs. 7500 and 8000 crores. 109 00:07:55,000 --> 00:07:57,640 - Permanent colour? - Just the hair colour market. 110 00:07:57,760 --> 00:07:58,800 Second category? 111 00:07:58,920 --> 00:08:01,360 The second category is semi-permanent hair colour. 112 00:08:01,920 --> 00:08:04,280 Its market in India is very insignificant. 113 00:08:04,360 --> 00:08:06,200 You're the biggest player in India then. 114 00:08:06,280 --> 00:08:07,400 - No, Streax is. - No. 115 00:08:07,480 --> 00:08:09,360 - There's Streax. - Streax, they have 6 colours. 116 00:08:09,440 --> 00:08:11,120 We have over 20. 117 00:08:11,640 --> 00:08:13,520 What is their size and what's yours? 118 00:08:13,600 --> 00:08:15,040 Sales. Tell us your sales figures. 119 00:08:15,120 --> 00:08:17,920 In the last audited financials, our sales were Rs. 3.5 crores. 120 00:08:18,000 --> 00:08:20,800 - FY 22. - FY 20, our first year of operations. 121 00:08:22,000 --> 00:08:22,720 And this year? 122 00:08:22,800 --> 00:08:25,760 In the first two quarters, our sales were Rs. 2.5 crores. 123 00:08:25,840 --> 00:08:28,080 And what about your competitor? What were Streax's sales? 124 00:08:28,160 --> 00:08:31,640 - The overall revenue of Streax is Rs. 400 to 500 crores. - Yes. 125 00:08:31,720 --> 00:08:33,960 And the business this brings in is Rs. 50 to 60 crores. 126 00:08:34,040 --> 00:08:35,760 - Got it. - Tell me something. 127 00:08:35,840 --> 00:08:38,680 Let's suppose I estimate your ARR at Rs. 5 crores. 128 00:08:49,080 --> 00:08:51,200 and community engagement. 129 00:08:51,280 --> 00:08:54,440 We didn't focus on revenue-based scaling last year. 130 00:08:55,400 --> 00:08:57,240 - We manufacture our own products. - Yes. 131 00:08:57,320 --> 00:08:59,960 So, we resolved any probable logistic 132 00:09:00,040 --> 00:09:03,560 and supply chain issues. 133 00:09:03,680 --> 00:09:06,120 We're working on scaling for the last two months. 134 00:09:06,200 --> 00:09:08,280 Let's take a look at our last three months' revenues. 135 00:09:08,360 --> 00:09:10,960 Our revenue three months ago was Rs. 35 lakhs. 136 00:09:11,880 --> 00:09:13,960 The month before that, our revenue was Rs. 40 lakhs. 137 00:09:14,040 --> 00:09:16,520 And last month, we closed at Rs. 51 lakhs. 138 00:09:16,600 --> 00:09:18,520 [intense music playing] 139 00:09:18,880 --> 00:09:20,040 How is your role divided? 140 00:09:20,120 --> 00:09:23,280 I look after design, packaging, communication and marketing. 141 00:09:23,400 --> 00:09:26,440 So, the entire creative side comes under me. 142 00:09:26,520 --> 00:09:28,720 I oversee finance and operations. 143 00:09:28,800 --> 00:09:31,200 In that case, can you tell me the unit economics? 144 00:09:32,160 --> 00:09:35,160 Our current average order value is Rs. 1100. 145 00:09:35,240 --> 00:09:37,160 Rs. 160 goes towards packaging. 146 00:09:37,240 --> 00:09:40,000 Our cost of raw materials is around Rs. 40. 147 00:09:40,080 --> 00:09:40,960 - That's it? - Yes. 148 00:09:41,920 --> 00:09:44,800 Logistics costs around Rs. 80. 149 00:09:44,880 --> 00:09:49,120 So, our gross margin is around 70 to 75%. 150 00:09:49,200 --> 00:09:50,840 You're left with Rs. 800. 151 00:09:50,960 --> 00:09:54,840 - The cost of customer acquisition is around Rs. 200 to 250. - Okay. 152 00:09:54,960 --> 00:09:57,400 Our salaries are around Rs. 330. 153 00:09:58,000 --> 00:10:01,800 The net profit of the first six months is around 19%. 154 00:10:01,920 --> 00:10:03,480 Out of Rs. 2.5 crores... 155 00:10:03,560 --> 00:10:04,960 We booked a profit of Rs. 50 lakhs. 156 00:10:05,040 --> 00:10:06,600 - You booked a profit of Rs. 50 lakhs. - Yes. 157 00:10:06,680 --> 00:10:08,720 [intense music playing] 158 00:10:09,760 --> 00:10:11,240 Can we look at your social media? 159 00:10:12,360 --> 00:10:15,000 The first video is the colour of the month 160 00:10:15,080 --> 00:10:17,120 that we roll out each month. 161 00:10:17,960 --> 00:10:19,160 Wow! Mango extract. 162 00:10:19,240 --> 00:10:21,680 This is the seasonal colour that we roll out. 163 00:10:22,440 --> 00:10:25,480 [peppy music playing] 164 00:10:26,800 --> 00:10:28,320 - The content is impressive. Solid! - Very nice. 165 00:10:28,400 --> 00:10:30,640 - The make is solid and your content is good. - Amazing! 166 00:10:30,720 --> 00:10:31,920 - Thank you. - Very nice. 167 00:10:34,760 --> 00:10:35,920 Who is in the cap table? 168 00:10:36,040 --> 00:10:37,480 I hold 40% equity. 169 00:10:38,280 --> 00:10:39,680 He holds 20%. 170 00:10:40,480 --> 00:10:43,280 20% is with my brother and 20% is with my mom. 171 00:10:43,360 --> 00:10:44,400 Oh, wow! 172 00:10:44,880 --> 00:10:47,120 What's your mom and brother's role? 173 00:10:58,360 --> 00:11:00,560 and we gave the other 20% to mom 174 00:11:00,640 --> 00:11:02,640 because she supervises manufacturing now. 175 00:11:03,520 --> 00:11:06,640 Her brother's background is similar to her father's. 176 00:11:06,720 --> 00:11:09,560 He has a vast experience in chemicals. 177 00:11:09,680 --> 00:11:13,320 The chemistry behind what dyes go into what colour 178 00:11:13,400 --> 00:11:15,320 - and the technical know-how... - My brother looks after it. 179 00:11:15,400 --> 00:11:17,680 Her brother Karan is providing us his expertise. 180 00:11:17,800 --> 00:11:19,240 How big is that business? 181 00:11:19,320 --> 00:11:21,400 The business is worth Rs. 800 crores. 182 00:11:21,480 --> 00:11:22,880 - Wow. - Rs. 800 crores. 183 00:11:22,960 --> 00:11:24,040 Whoa! 184 00:11:24,840 --> 00:11:26,000 - Nice. - [gasps] 185 00:11:26,440 --> 00:11:29,840 To make a hair dye, whether it is permanent or semi-permanent, 186 00:11:30,040 --> 00:11:32,360 the core raw materials 187 00:11:32,440 --> 00:11:34,560 - are manufactured in her brother's company. - In his company. 188 00:11:34,640 --> 00:11:37,200 They are one of the biggest suppliers in the whole world. 189 00:11:38,960 --> 00:11:41,760 So, the supply chain of raw materials from the site 190 00:11:41,960 --> 00:11:44,200 is sorted from the get-go till the end. 191 00:11:45,520 --> 00:11:47,600 Then you should take this business global. 192 00:11:47,680 --> 00:11:50,480 We want to be the pioneers in the hair colour category. 193 00:11:51,720 --> 00:11:54,720 We will not restrict ourselves to semi-permanent dyes. 194 00:11:54,800 --> 00:11:57,480 We will get into permanent as well as temporary. 195 00:11:59,600 --> 00:12:00,960 I'll make you an offer. 196 00:12:02,560 --> 00:12:03,440 Oh! 197 00:12:07,880 --> 00:12:10,560 It seems like there's going to be a fight. 198 00:12:12,280 --> 00:12:14,360 See, this is a category-creation business. 199 00:12:14,440 --> 00:12:16,160 I feel excited about that journey. 200 00:12:17,440 --> 00:12:20,760 You know the content, marketing as well as branding. 201 00:12:20,840 --> 00:12:23,080 So, I think you just need a way 202 00:12:23,160 --> 00:12:25,520 to take that Rs. 100 crores to Rs. 800 or 900 crores. 203 00:12:25,680 --> 00:12:27,120 [intense music playing] 204 00:12:27,880 --> 00:12:30,680 My offer is Rs. 65 lakhs for 5% equity. 205 00:12:35,520 --> 00:12:37,480 and you can counter me. 206 00:12:37,600 --> 00:12:39,920 - Can we... - Hear other offers as well? 207 00:12:40,000 --> 00:12:42,280 [unanimous laughter] 208 00:12:43,320 --> 00:12:45,320 Usually, when I come on board as an investor, 209 00:12:45,400 --> 00:12:48,440 I like to play an active part in terms of giving 210 00:12:48,560 --> 00:12:50,760 mentorship or network. 211 00:12:50,880 --> 00:12:53,520 I have no expertise in this area. 212 00:12:53,600 --> 00:12:54,720 So, I am out. 213 00:12:55,480 --> 00:12:57,720 [sombre music playing] 214 00:12:58,360 --> 00:13:00,960 I believe I can be extremely helpful to you. 215 00:13:01,120 --> 00:13:02,760 [intense music playing] 216 00:13:03,720 --> 00:13:06,200 I know this consumer really well. 217 00:13:06,280 --> 00:13:08,800 50 to 60% of our business is through offline channels. 218 00:13:08,920 --> 00:13:11,160 We're on rank 1 in 60% Health & Glow stores 219 00:13:11,240 --> 00:13:13,560 amongst all the brands. We're beating legacy brands. 220 00:13:15,720 --> 00:13:18,560 Anupam and I would like to give you an offer. 221 00:13:20,480 --> 00:13:22,800 Take someone else in on the deal for a change! 222 00:13:22,880 --> 00:13:25,160 You don't add value. You're all about the heroics. 223 00:13:25,240 --> 00:13:27,080 Once a hero always a hero. The same applies to a villain. 224 00:13:27,160 --> 00:13:28,880 [intense music playing] 225 00:13:28,960 --> 00:13:32,480 So, our offer is Rs. 65 lakhs for 4% equity. 226 00:13:39,080 --> 00:13:40,080 I'll support you. 227 00:13:40,200 --> 00:13:42,040 [intense music playing] 228 00:13:43,200 --> 00:13:45,520 I would do Rs. 65 lakhs for 5% equity. 229 00:13:53,840 --> 00:13:56,000 [intense music playing] 230 00:13:56,760 --> 00:13:58,120 That makes no sense. 231 00:13:59,200 --> 00:14:01,400 Vineeta is with Anupam in this one. 232 00:14:03,160 --> 00:14:05,480 Can we take two minutes to think about it? 233 00:14:05,560 --> 00:14:07,720 If you want to counter, you can. 234 00:14:07,840 --> 00:14:09,400 We're happy to make a decision with you. 235 00:14:09,480 --> 00:14:10,400 - Thank you, Sharks. - Thank you. 236 00:14:10,480 --> 00:14:11,560 We'll take five minutes. 237 00:14:11,640 --> 00:14:13,840 [intense music playing] 238 00:14:14,440 --> 00:14:15,800 I think she'll take these two. 239 00:14:16,320 --> 00:14:18,680 I'm sure. 100%. Write a cheque. 240 00:14:19,960 --> 00:14:22,320 Let's do an upper limit of 4%. 241 00:14:22,440 --> 00:14:23,600 Start with 2. 242 00:14:24,160 --> 00:14:25,560 Or let's start with 3. 243 00:14:25,720 --> 00:14:27,680 Start with 3 and the upper limit is 4%. 244 00:14:28,880 --> 00:14:30,800 - Vineeta knows the market. - Hmm. 245 00:14:30,880 --> 00:14:32,280 She has the expertise. 246 00:14:32,400 --> 00:14:33,920 - No, it's not true. - Expertise. 247 00:14:34,040 --> 00:14:36,080 No one knows the market in these categories. 248 00:14:36,160 --> 00:14:37,160 Yes, true. 249 00:14:37,400 --> 00:14:40,120 She won't sell this product in Sugar stores. 250 00:14:40,480 --> 00:14:41,400 I won't. 251 00:14:41,920 --> 00:14:44,240 [intense music playing] 252 00:14:47,560 --> 00:14:49,600 Thank you so much for all your offers. 253 00:14:50,680 --> 00:14:53,840 We think we can agree to Rs. 65 lakhs for 3% equity. 254 00:15:01,160 --> 00:15:03,520 [intense music playing] 255 00:15:05,160 --> 00:15:05,960 Yes, I'll do it. 256 00:15:06,040 --> 00:15:08,280 - Rs. 65 lakhs for 3% equity. - You want to do it! 257 00:15:08,960 --> 00:15:09,960 You can't do that. 258 00:15:10,920 --> 00:15:11,880 Oh! 259 00:15:12,360 --> 00:15:15,000 [intense music playing] 260 00:15:15,560 --> 00:15:16,800 You're in a crisis! 261 00:15:19,640 --> 00:15:21,400 This is a conflict, boss! 262 00:15:23,400 --> 00:15:26,360 Aman and I can do this deal. Rs. 65 lakhs for 3% equity. 263 00:15:26,480 --> 00:15:27,840 If Aman is okay, but... 264 00:15:27,920 --> 00:15:29,400 They need my help. 265 00:15:29,480 --> 00:15:31,600 No, you will be their direct competition. 266 00:15:31,680 --> 00:15:33,880 [intense music playing] 267 00:15:34,200 --> 00:15:36,200 Vineeta, Rs. 65 lakhs... 268 00:15:36,880 --> 00:15:39,000 [intense music playing] 269 00:15:40,760 --> 00:15:41,880 - There will be competition. - All three? 270 00:15:41,960 --> 00:15:44,000 There's no way Sugar will not enter this category. 271 00:15:44,080 --> 00:15:45,240 - Or not? - Or they'll have to acquire you. 272 00:15:45,320 --> 00:15:46,320 There is no other way. 273 00:15:47,520 --> 00:15:49,640 What are you saying? That's not true. 274 00:15:49,960 --> 00:15:51,160 [intense music playing] 275 00:15:51,280 --> 00:15:54,000 Make-up on the hair and face are two different things. 276 00:15:54,080 --> 00:15:55,680 Don't poison their minds. 277 00:15:56,280 --> 00:15:58,160 [intense music playing] 278 00:16:02,760 --> 00:16:07,080 - I feel anyone who wants to join in for 3% is welcome. - I'm in. 279 00:16:07,480 --> 00:16:09,160 - No... - 3% is our top limit. 280 00:16:09,640 --> 00:16:11,280 No. Just hang on a second. 281 00:16:11,360 --> 00:16:13,320 - I'm in. - Wait, 3%... 282 00:16:13,400 --> 00:16:14,640 - 3%... - The three of us. 283 00:16:14,720 --> 00:16:16,080 - We three are in. - We two are doing 3%. 284 00:16:16,160 --> 00:16:17,480 - We three. - We two are doing 3%. 285 00:16:17,560 --> 00:16:19,200 - Anupam... - I'm in. 286 00:16:19,320 --> 00:16:20,840 - Keep quiet. - No, you two... 287 00:16:20,920 --> 00:16:22,360 - Whoever comes first gets it. - I am here. 288 00:16:22,440 --> 00:16:25,080 - No... - Anupam, you, Vineeta and me. Yes or no? 289 00:16:26,160 --> 00:16:27,600 - Guys, relax. - Anupam, yes or no? 290 00:16:27,680 --> 00:16:29,520 - Guys, come back. Peyush. - Come back. 291 00:16:29,600 --> 00:16:31,360 - Peyush, come back. - Guys, come back. 292 00:16:31,600 --> 00:16:33,080 [intense music playing] 293 00:16:33,240 --> 00:16:35,120 - Come back... - Peyush, come back. 294 00:16:35,360 --> 00:16:37,760 - You guys always follow suit... - I'm going to summarise... 295 00:16:37,840 --> 00:16:39,280 Oh my God! 296 00:16:39,800 --> 00:16:41,440 Guys, I'm changing the game. 297 00:16:41,720 --> 00:16:43,240 [intense music playing] 298 00:16:43,360 --> 00:16:45,120 I'll give you Rs. 65 lakhs for 2% equity. 299 00:16:53,960 --> 00:16:57,040 Okay. Vineeta and I offer you Rs. 65 lakhs for 2% equity. 300 00:17:02,320 --> 00:17:03,520 Are you and I in? 301 00:17:03,600 --> 00:17:05,600 - All three of us... - Hold on. 302 00:17:05,680 --> 00:17:07,560 - Hold on. - Three of us, 3% each. 303 00:17:07,640 --> 00:17:08,480 - Three of us, 3% each. - Shush! 304 00:17:08,560 --> 00:17:10,200 - Hang on. Anupam! - Guys! 305 00:17:10,360 --> 00:17:13,840 Last option. Do you want to do three of us? Yes or no? 306 00:17:14,000 --> 00:17:15,400 No. That's not the way. 307 00:17:15,600 --> 00:17:17,720 [intense music playing] 308 00:17:21,000 --> 00:17:22,440 Aman, let's you and I do it. 309 00:17:22,560 --> 00:17:24,200 - Let's do it. - Wait, calm down. 310 00:17:24,280 --> 00:17:26,360 It's great. They're fighting for you. Great. 311 00:17:27,400 --> 00:17:28,920 They just follow in my footsteps. 312 00:17:29,040 --> 00:17:30,280 They don't know what to do. 313 00:17:30,360 --> 00:17:34,040 But now, we feel we wish to keep 2% as our top limit. 314 00:17:36,120 --> 00:17:37,320 We agreed to 2%. 315 00:17:37,400 --> 00:17:39,240 Look, don't make haste. 316 00:17:39,320 --> 00:17:40,160 - Yes. - Yes. 317 00:17:40,240 --> 00:17:42,120 Wait. There's a Shark fight happening. 318 00:17:43,040 --> 00:17:44,600 [intense music playing] 319 00:17:44,800 --> 00:17:47,840 Vineeta, is it just you and Anupam, or is it all three of you? 320 00:17:47,960 --> 00:17:49,760 - Three of us. 3%. - [indistinct chatter] 321 00:17:51,560 --> 00:17:53,800 - 3% - 3%. Three of us. 322 00:17:53,920 --> 00:17:54,880 With 1% each. 323 00:17:56,760 --> 00:18:02,560 Don't forget the help I could offer with Nykaa and Health & Glow. 324 00:18:03,080 --> 00:18:05,200 Boss, this is a clear conflict. 325 00:18:06,000 --> 00:18:07,200 [intense music playing] 326 00:18:07,280 --> 00:18:08,720 - Don't lie! - This is conflict. 327 00:18:08,800 --> 00:18:09,920 - It isn't! - There is no conflict. 328 00:18:10,000 --> 00:18:12,240 - I don't think there is conflict. - One second... 329 00:18:13,160 --> 00:18:16,640 - If the make-up for face and hair is a conflict of interest... - Small... 330 00:18:16,720 --> 00:18:19,360 - Then why isn't make-up for eye and hair too? - Stop it! 331 00:18:20,160 --> 00:18:21,440 - Tsk! Stop it. - Tell me. 332 00:18:21,560 --> 00:18:22,400 - Stop it. - He... 333 00:18:22,520 --> 00:18:23,960 He's... He's talking rubbish. 334 00:18:24,040 --> 00:18:26,000 I'll give Rs. 65 lakhs for 1% equity. 335 00:18:33,640 --> 00:18:35,920 - Let him do it. We will still be... - Go ahead. 336 00:18:36,000 --> 00:18:36,920 Rs. 65 lakhs... 337 00:18:37,000 --> 00:18:39,280 - My offer is Rs. 65 lakhs for 1% equity. - 3%. 338 00:18:39,440 --> 00:18:41,840 [intense music playing] 339 00:18:43,360 --> 00:18:44,760 Shush! One minute, let them decide. 340 00:18:44,840 --> 00:18:48,280 Sorry. We just want to know what you can help us with. 341 00:18:48,360 --> 00:18:49,880 - Could you tell us again? - [hysterical laughter] 342 00:18:49,960 --> 00:18:52,000 - Boss... - Your offer is very lucrative. 343 00:18:52,080 --> 00:18:55,080 - But... - Do you know our share today in colour contacts? 344 00:18:55,200 --> 00:18:56,600 [intense music playing] 345 00:19:02,240 --> 00:19:03,800 That market never existed in India. 346 00:19:03,880 --> 00:19:06,840 Second, I really think you need to up your game on digital. 347 00:19:07,400 --> 00:19:09,400 You don't need help with content or branding. 348 00:19:09,520 --> 00:19:12,640 You already have whatever Aman and Vineeta have offered to help with. 349 00:19:13,040 --> 00:19:14,840 [intense music playing] 350 00:19:15,000 --> 00:19:18,160 You need to build a craze for this experience on digital platforms. 351 00:19:18,360 --> 00:19:20,000 Let people play with their colours. 352 00:19:20,080 --> 00:19:23,640 Because when they engage, then a category will get created. 353 00:19:24,640 --> 00:19:28,960 If you've figured out marketing, operations and manufacturing, 354 00:19:29,040 --> 00:19:30,240 - what do you need in scaling? - Hmm. 355 00:19:30,320 --> 00:19:31,920 You need a strategy to scale up, right? 356 00:19:32,000 --> 00:19:34,760 - Strategy. - You need somebody with an outside view who can guide you. 357 00:19:34,840 --> 00:19:36,440 - How business should be done... - Who has already done... 358 00:19:36,520 --> 00:19:37,840 - And how to build a company. - Yes. 359 00:19:37,920 --> 00:19:40,040 Do you understand? You need to think about that. 360 00:19:40,120 --> 00:19:42,120 [intense music playing] 361 00:19:44,360 --> 00:19:47,440 We are here to support you to grow your business together. 362 00:19:48,480 --> 00:19:51,640 No other category has been able to oust foreign brands except for us. 363 00:19:51,720 --> 00:19:52,920 We know how to fight them. 364 00:19:53,160 --> 00:19:55,480 It's up to you if you wish to come on board. Please take the valuation. 365 00:19:55,560 --> 00:19:58,320 Whether you want value or valuation, it's up to you to decide. 366 00:20:00,560 --> 00:20:02,000 And think about your next round. 367 00:20:02,080 --> 00:20:05,320 - Come on. Where's your logic... - Shush. 368 00:20:06,320 --> 00:20:07,920 We don't wish to offend anybody. 369 00:20:08,000 --> 00:20:11,920 The experience we're in dire need of lies with Aman and Vineeta. 370 00:20:12,000 --> 00:20:13,760 [intense music playing] 371 00:20:14,400 --> 00:20:15,920 So, our counteroffer would be 372 00:20:16,000 --> 00:20:18,120 for Aman and Vineeta to join us for 2% equity 373 00:20:18,200 --> 00:20:20,160 with an investment of Rs. 65 lakhs. 374 00:20:30,040 --> 00:20:32,400 - On behalf of two of them. I'll take them. - No. 375 00:20:32,480 --> 00:20:33,680 I'm actually out. 376 00:20:35,000 --> 00:20:38,800 I'm beginning to question your integrity and manner of dealing. 377 00:20:38,920 --> 00:20:40,560 [intense music playing] 378 00:20:40,800 --> 00:20:42,160 - Integrity... - Integrity doesn't... 379 00:20:42,240 --> 00:20:44,520 - No integrity... - I think you've created a situation... 380 00:20:44,600 --> 00:20:46,400 - I... You... - I don't think you guys are thinking straight. 381 00:20:46,480 --> 00:20:48,800 - You created a situation. - I should also back out. 382 00:20:48,920 --> 00:20:50,960 It's a very wrong situation. 383 00:20:52,440 --> 00:20:54,240 And you tried to be oversmart. 384 00:20:54,320 --> 00:20:56,400 [intense music playing] 385 00:20:56,920 --> 00:20:58,480 You want all the offers! 386 00:20:58,840 --> 00:21:00,600 I'd never want 387 00:21:00,680 --> 00:21:03,760 to come between your deal with any of the other Sharks. 388 00:21:04,960 --> 00:21:08,240 If you don't accept my offer, then I am out too. 389 00:21:08,360 --> 00:21:09,960 Then you'll have only one option. 390 00:21:10,040 --> 00:21:12,480 You have to say yes or no to me right now, or I'm out. 391 00:21:12,680 --> 00:21:14,280 [intense music playing] 392 00:21:14,440 --> 00:21:16,000 Vineeta and I have an offer. 393 00:21:16,080 --> 00:21:17,640 Rs. 65 lakhs for 2% equity. Yes or no? 394 00:21:21,800 --> 00:21:23,440 Okay, then I am out. 395 00:21:23,720 --> 00:21:25,560 [intense music playing] 396 00:21:26,040 --> 00:21:27,080 Yes! 397 00:21:33,720 --> 00:21:36,600 - They are in a sorry state. - We are also very happy. 398 00:21:36,680 --> 00:21:37,680 You must be convinced. 399 00:21:37,760 --> 00:21:40,640 No offence intended, it's not that 400 00:21:40,720 --> 00:21:43,240 we value a particular person more than the other. 401 00:21:43,320 --> 00:21:44,800 What just happened here is, 402 00:21:44,880 --> 00:21:47,120 you got to nitpick and you got what you wanted. 403 00:21:47,440 --> 00:21:50,160 And you got the maximum valuation. 404 00:21:50,240 --> 00:21:52,360 But people played a dirty game here. 405 00:21:52,480 --> 00:21:54,000 [sweeping music] 406 00:21:54,120 --> 00:21:55,080 - Right? - No, man! 407 00:21:55,160 --> 00:21:57,240 When somebody offered, 408 00:21:57,320 --> 00:22:00,960 that Shark was cajoled into joining him. That's what Aman did. 409 00:22:01,760 --> 00:22:03,560 Then Vineeta changed her stance. 410 00:22:03,680 --> 00:22:07,080 - And then you two also changed. So I think it was a bit messy. - Yes! 411 00:22:08,640 --> 00:22:10,000 But I disagree! 412 00:22:10,080 --> 00:22:11,520 It doesn't matter what you think! 413 00:22:11,600 --> 00:22:13,920 - They'll do what's good for them. - I'm talking. You're out. 414 00:22:14,000 --> 00:22:15,800 [dramatic music] 415 00:22:16,080 --> 00:22:19,040 - But I can give an opinion. - You can! But right now you're out. 416 00:22:20,120 --> 00:22:22,880 If I was in your place and made an offer to someone, 417 00:22:22,960 --> 00:22:25,400 I wouldn't backtrack no matter what. 418 00:22:26,440 --> 00:22:28,120 - We didn't agree with them. - That forte you will miss! 419 00:22:28,200 --> 00:22:30,080 That forte you will miss in your business. 420 00:22:30,800 --> 00:22:33,880 People have come here to win deals. 421 00:22:34,000 --> 00:22:36,480 They are just fanning their egos and changing sides for deals. 422 00:22:36,560 --> 00:22:37,760 That's the truth. 423 00:22:37,880 --> 00:22:38,920 What? 424 00:22:39,040 --> 00:22:40,000 Please relax! 425 00:22:40,120 --> 00:22:41,160 You must relax. 426 00:22:41,240 --> 00:22:42,760 Please don't whine if they chose us. 427 00:22:42,840 --> 00:22:44,200 You shouldn't switch gears. 428 00:22:44,280 --> 00:22:46,440 - Fine! I switched gears. What will you do about it? - I know. 429 00:22:46,520 --> 00:22:49,320 - It's quite apparent. I can see it. - I am! 430 00:22:49,840 --> 00:22:50,720 Of course, you are! 431 00:22:50,800 --> 00:22:53,440 - Later on, we offered you too. - Let it be! 432 00:22:54,600 --> 00:22:56,760 Let them do what they deem fit. 433 00:22:56,840 --> 00:22:58,280 - Alright. - Why are you making them feel guilty about it? 434 00:22:58,360 --> 00:23:00,000 No, but I'll say what I have to say. 435 00:23:00,080 --> 00:23:02,720 - Okay! You have a great brand. - Preserving equity is important. 436 00:23:02,800 --> 00:23:04,120 It's good you did that. 437 00:23:05,440 --> 00:23:08,080 Within five years, Sugar will have a hair colour brand. 438 00:23:08,160 --> 00:23:09,000 I can guarantee. 439 00:23:09,080 --> 00:23:10,560 - Please let it be! - Gosh! 440 00:23:10,720 --> 00:23:11,680 And you'll be competing. 441 00:23:11,760 --> 00:23:13,440 It could be unfair but it's business. 442 00:23:13,520 --> 00:23:15,160 - Let's go! - You guys are going to... 443 00:23:15,240 --> 00:23:16,880 - All the best! - I want to be out of here. 444 00:23:16,960 --> 00:23:18,440 - Mark my words! - And all the best! 445 00:23:18,520 --> 00:23:20,200 You got a great deal. Well done! 446 00:23:20,280 --> 00:23:21,640 - Thank you, guys. - Thank you! 447 00:23:23,800 --> 00:23:26,880 You are blinded by your ego 448 00:23:27,000 --> 00:23:28,920 and you want to win the deal come what may. 449 00:23:29,000 --> 00:23:30,720 Are you investing or winning deals? 450 00:23:31,920 --> 00:23:34,560 I think it was a stressful pitch. 451 00:23:34,640 --> 00:23:37,080 You know, it's one of those pitches where you win the deal 452 00:23:37,160 --> 00:23:38,400 but you don't feel happy about it. 453 00:23:38,480 --> 00:23:42,040 Because you feel that you lost a friend while winning a deal. 454 00:23:42,880 --> 00:23:44,840 Anupam could have added value to their business. 455 00:23:44,920 --> 00:23:47,520 But the founder didn't want him. So what do I do about it? 456 00:25:43,800 --> 00:25:45,840 [adventurous music] 457 00:25:55,360 --> 00:25:57,600 [ethereal music] 458 00:26:02,440 --> 00:26:04,440 - Greetings, Sharks! - Greetings! 459 00:26:08,800 --> 00:26:12,960 Sharks, we decorate our homes meticulously and with love in Delhi. 460 00:26:13,040 --> 00:26:16,320 But when our neighbour comes and asks us, 461 00:26:16,760 --> 00:26:19,320 "Did you buy the roti-box from Karol Bagh?" 462 00:26:19,400 --> 00:26:21,640 "We can easily get cheap items there." 463 00:26:21,720 --> 00:26:24,880 Or some other neighbour comes and passes an expert comment. 464 00:26:24,960 --> 00:26:26,520 "Where did you buy this stool from?" 465 00:26:26,600 --> 00:26:29,440 "I saw the same piece in Lajpat Nagar the day before yesterday." 466 00:26:29,520 --> 00:26:31,000 We feel frustrated. 467 00:26:31,080 --> 00:26:32,720 But it happens 468 00:26:32,800 --> 00:26:36,280 because we don't get new and unique products in the market. 469 00:26:37,160 --> 00:26:38,200 I think 470 00:26:38,280 --> 00:26:41,240 every corner of our house should be a conversation starter. 471 00:26:41,800 --> 00:26:44,840 When I started decorating my house, I made up my mind 472 00:26:44,920 --> 00:26:48,240 that I won't use old-fashioned and boring products. 473 00:26:48,680 --> 00:26:51,640 I wanted my house to look modern and contemporary. 474 00:26:51,760 --> 00:26:55,320 So I wanted to use products that were unique, functional 475 00:26:55,440 --> 00:26:56,720 and of course affordable. 476 00:26:57,720 --> 00:26:59,640 When we set out to buy those items, 477 00:26:59,720 --> 00:27:02,280 I had to hunt for those items from one shop to another shop. 478 00:27:02,360 --> 00:27:04,320 I went through more than 100 websites. 479 00:27:04,400 --> 00:27:06,720 But I couldn't find an Indian brand 480 00:27:06,800 --> 00:27:10,520 which could provide me with a product as per my needs and liking. 481 00:27:10,600 --> 00:27:13,920 And that is when I came up with the idea of Nestroots. 482 00:27:14,000 --> 00:27:15,920 [upbeat music] 483 00:27:18,080 --> 00:27:21,760 Nestroots is a brand that is Indian in origin but global in spirit. 484 00:27:22,160 --> 00:27:25,560 Nestroots provides you with decor, furnishings, kitchenware, dining, 485 00:27:25,640 --> 00:27:27,680 and other furniture products. 486 00:27:27,760 --> 00:27:29,640 It's the ultimate destination. 487 00:27:29,720 --> 00:27:31,720 [upbeat music] 488 00:27:31,800 --> 00:27:33,360 Our products are known 489 00:27:33,440 --> 00:27:36,640 for elegant aesthetics and unique designs. 490 00:27:36,760 --> 00:27:39,440 They are also known for their utility-based superior quality 491 00:27:39,520 --> 00:27:41,920 and affordable pricing. 492 00:27:47,040 --> 00:27:49,000 For instance, our official website 493 00:28:14,840 --> 00:28:17,440 So my ask is Rs. 50 lakhs 494 00:28:24,000 --> 00:28:26,240 - Hi! Welcome to Shark Tank. - Thank you so much. 495 00:28:26,360 --> 00:28:28,080 What's your background? What did you do before starting this business? 496 00:28:28,160 --> 00:28:31,600 I have ten years of industry work experience. 497 00:28:31,680 --> 00:28:33,920 For the first five years, I worked with 498 00:28:34,000 --> 00:28:36,120 the Arvind brand in sales and operations. 499 00:28:36,200 --> 00:28:37,760 Yes! [suspenseful music] 500 00:28:37,880 --> 00:28:41,760 And the next five years in training and development. 501 00:28:42,120 --> 00:28:45,680 Your opportunity cost must be high as you worked for 10 years. 502 00:28:54,520 --> 00:28:55,840 Please explain to us. 503 00:28:55,960 --> 00:28:58,040 I took this decision after my marriage. 504 00:28:58,120 --> 00:29:01,000 I got married in 2015 and I started Nestroots in the year 2016. 505 00:29:01,120 --> 00:29:04,200 I got an idea while decorating my house. 506 00:29:05,960 --> 00:29:08,440 Everyone in my family owns some or the other business. 507 00:29:08,560 --> 00:29:10,520 All of them built their businesses. 508 00:29:10,600 --> 00:29:12,600 My father is a retired businessman 509 00:29:12,680 --> 00:29:15,960 and my mother owns an ethnic-wear label. 510 00:29:16,040 --> 00:29:18,280 - She's running her business successfully for 30 years. - Wow! 511 00:29:21,240 --> 00:29:23,320 - Yes. My brother is a businessman too. - Oh, wow! 512 00:29:23,400 --> 00:29:25,160 Entrepreneurial family. 513 00:29:27,040 --> 00:29:30,040 Initially, it was a big task to look for manufacturers 514 00:29:30,160 --> 00:29:31,320 in this category. 515 00:29:31,440 --> 00:29:33,720 Because people don't take a girl seriously. 516 00:29:33,840 --> 00:29:36,080 So I overcame a lot of biases 517 00:29:36,160 --> 00:29:37,360 to reach here. 518 00:29:38,360 --> 00:29:39,760 - Well done! - Yes! 519 00:29:39,840 --> 00:29:42,280 - Thank you! - What's your main product offering? 520 00:29:42,360 --> 00:29:43,880 There are five major categories. 521 00:29:43,960 --> 00:29:46,240 They comprise 28 subcategories. 522 00:29:46,320 --> 00:29:47,800 What are those five categories? 523 00:29:47,880 --> 00:29:50,000 We have ottomans, pouffes, stools and side tables 524 00:29:50,080 --> 00:29:53,760 in the furniture category. 525 00:29:53,840 --> 00:29:56,200 This category is one of the bestsellers on Amazon. 526 00:29:56,320 --> 00:29:57,120 Very nice! 527 00:29:57,200 --> 00:30:01,040 Our second-best category is kitchen and dining products. 528 00:30:01,160 --> 00:30:03,840 The third is serveware and tableware. 529 00:30:03,920 --> 00:30:05,880 The fourth one is the bar-ware category. 530 00:30:05,960 --> 00:30:09,240 Our fifth category is furnishings. We launched furnishings recently 531 00:30:09,320 --> 00:30:11,320 for the current festive season. 532 00:30:12,600 --> 00:30:14,000 So currently, the furniture category 533 00:30:14,080 --> 00:30:17,240 contributes 55% towards the entire business. 534 00:30:17,440 --> 00:30:20,040 - Alright! - But this market 535 00:30:20,120 --> 00:30:22,280 has become cluttered in the last three-four years. 536 00:30:25,520 --> 00:30:29,200 But the uniqueness of the designs of our in-house products 537 00:30:29,320 --> 00:30:32,760 and the quality of raw material we use at this price 538 00:30:32,880 --> 00:30:35,440 has no competition. 539 00:30:36,960 --> 00:30:39,840 - Shall we check your products to understand better? - Yes, please! 540 00:30:39,920 --> 00:30:41,680 [ethereal music] 541 00:30:43,920 --> 00:30:45,360 Chhavi, is this marble? 542 00:30:45,600 --> 00:30:46,720 - That's a marble. Yes! - It's real marble? 543 00:30:46,800 --> 00:30:48,560 - Real marble! - Then it must be expensive. 544 00:30:48,640 --> 00:30:51,080 Its selling price is Rs. 2,500. 545 00:30:51,160 --> 00:30:51,960 Rs. 2,500? 546 00:30:52,040 --> 00:30:54,000 - Wow! It's really nice. - Yes! 547 00:30:54,200 --> 00:30:55,360 What's the price of this? 548 00:30:55,560 --> 00:30:57,760 A single piece would cost Rs. 2,795. 549 00:30:57,840 --> 00:30:59,440 Rs. 2,795. Very nice. 550 00:30:59,920 --> 00:31:02,280 I think your customers must be... 551 00:31:02,360 --> 00:31:04,520 - They must be having a heavy price point. - No! 552 00:31:04,600 --> 00:31:06,320 - It's affordable. - No, not at all! 553 00:31:06,440 --> 00:31:07,880 That's why I'm emphasising their affordability. 554 00:31:07,960 --> 00:31:10,360 - But they appear expensive. - Yes! 555 00:31:10,560 --> 00:31:12,160 The designs are good for sure. 556 00:31:12,240 --> 00:31:14,040 - Very good designs! - Thank you so much! 557 00:31:14,800 --> 00:31:17,360 [eerie music] 558 00:31:28,720 --> 00:31:32,560 of premium, international quality, modern designs 559 00:31:32,680 --> 00:31:35,840 at an affordable price point is bang on. 560 00:31:35,960 --> 00:31:37,200 So I love it! 561 00:31:37,280 --> 00:31:39,520 I'm feeling bad as I didn't see you before. 562 00:31:39,600 --> 00:31:41,320 - I explored all the places. - Beautiful designs! 563 00:31:41,400 --> 00:31:44,840 And I would have surely bought items from you if I saw them before. 564 00:31:44,920 --> 00:31:45,720 Thank you! 565 00:31:45,800 --> 00:31:47,880 But, Chhavi, I have a question. 566 00:31:47,960 --> 00:31:50,560 We are in the process of moving house. 567 00:31:55,120 --> 00:31:57,040 I bought these items from there. 568 00:31:57,160 --> 00:31:58,560 [sweeping music] 569 00:31:58,640 --> 00:31:59,760 Exactly the same. 570 00:31:59,840 --> 00:32:02,160 And they were affordable. We got a real bargain. 571 00:32:02,280 --> 00:32:04,280 So it isn't something unique. 572 00:32:04,360 --> 00:32:06,360 [sinister music] 573 00:32:06,440 --> 00:32:09,040 Sir, it could be a particular category. 574 00:32:09,120 --> 00:32:11,880 Cutlery is something in which you can't experiment with design. 575 00:32:11,960 --> 00:32:15,080 But other categories, especially the bestseller, 576 00:32:15,200 --> 00:32:17,640 have a scope for us to experiment in designing. 577 00:32:17,720 --> 00:32:20,080 It shows the differentiating factor for sure. 578 00:32:20,200 --> 00:32:21,080 But we don't know about you. 579 00:32:21,160 --> 00:32:22,960 We do online shopping. 580 00:32:23,080 --> 00:32:25,400 Vineeta and I did online shopping. Many of us do it. 581 00:32:25,480 --> 00:32:26,840 You have been in this business for six years. 582 00:32:26,920 --> 00:32:28,720 Even six-month-old brands are visible online. 583 00:32:28,800 --> 00:32:30,840 [sweeping music] 584 00:32:30,920 --> 00:32:31,960 Both of us are furnishing our new homes. 585 00:32:32,040 --> 00:32:34,360 - We should have come across your brand. - Correct! 586 00:32:35,400 --> 00:32:39,480 Maybe because we only started advertising our website in October. 587 00:32:39,560 --> 00:32:41,840 Not your website. I'm talking about the marketplace. 588 00:32:41,920 --> 00:32:44,520 We are present in the marketplace. We're on Amazon since the first day. 589 00:32:44,600 --> 00:32:46,280 So why didn't we see you? Why isn't your brand visible? 590 00:32:46,360 --> 00:32:48,760 Didn't you spend money on performance marketing? 591 00:32:49,560 --> 00:32:52,400 I definitely spent money but performance marketing 592 00:32:52,480 --> 00:32:54,800 includes endless opportunities and we haven't explored them yet. 593 00:32:54,880 --> 00:32:56,000 I got it. Are you 594 00:32:56,080 --> 00:32:59,200 busy increasing the number of categories 595 00:32:59,280 --> 00:33:02,480 and hence not able to fully exploit 596 00:33:02,560 --> 00:33:04,360 the category you already have? 597 00:33:04,480 --> 00:33:06,560 It's true that we couldn't exploit the opportunities. 598 00:33:06,640 --> 00:33:09,400 But we aren't just busy with designing. 599 00:33:09,520 --> 00:33:10,920 We focus on sales too. 600 00:33:11,000 --> 00:33:13,360 A business must be profitable for me. 601 00:33:13,440 --> 00:33:16,520 So my focus is mostly on sales. 602 00:33:16,640 --> 00:33:18,600 [sweeping music] 603 00:33:18,680 --> 00:33:19,960 Please share your sales figures with us. 604 00:33:20,040 --> 00:33:21,960 You asked for a valuation of Rs. 50 crores. 605 00:33:22,000 --> 00:33:24,200 So I'm assuming your sales figure must be around Rs. 25 crores. 606 00:33:24,280 --> 00:33:25,080 How much? 607 00:33:25,200 --> 00:33:27,160 Rs. 25 crores! Please share the figure with us. 608 00:33:27,240 --> 00:33:28,640 [chuckling] 609 00:33:28,640 --> 00:33:31,000 Sir, our monthly average 610 00:33:31,080 --> 00:33:33,280 - is around Rs. 1.1 crores. - Wow! 611 00:33:33,360 --> 00:33:35,360 These are net sales after returns. 612 00:33:35,440 --> 00:33:37,600 Then 12% GST is deducted. 613 00:33:37,720 --> 00:33:40,000 - So how much is left? - Around Rs. 98 crores... 614 00:33:40,280 --> 00:33:43,080 - I mean Rs. 98 lakhs. - Rs. 98 lakhs is your monthly sale. 615 00:33:43,160 --> 00:33:44,560 Is it earned from the website or the marketplace? 616 00:33:48,840 --> 00:33:50,360 and the remaining is earned from the marketplace. 617 00:33:50,480 --> 00:33:51,760 What's your margin? 618 00:34:01,960 --> 00:34:03,080 on logistics. 619 00:34:03,200 --> 00:34:05,120 - Are you a profitable business now? - Yes. 620 00:34:05,200 --> 00:34:07,200 What's your profit in Rs. 98 lakhs? 621 00:34:07,280 --> 00:34:11,160 - Net profitability per month is between 16%-19%. - Wow! 622 00:34:11,440 --> 00:34:12,360 Wow! 623 00:34:12,480 --> 00:34:13,600 Very nice! 624 00:34:14,520 --> 00:34:17,840 FY 22 sales and FY 22 net profit? 625 00:34:17,960 --> 00:34:21,080 Net sales for FY 22 were Rs. 7.2 crores 626 00:34:21,160 --> 00:34:23,880 and net profit was again, 627 00:34:23,960 --> 00:34:25,480 14% in the last year. 628 00:34:28,640 --> 00:34:30,600 It will close at around Rs. 16 crores. 629 00:34:30,680 --> 00:34:32,800 Your product and pricing are superb. 630 00:34:32,880 --> 00:34:33,960 You are making a profit. 631 00:34:40,200 --> 00:34:42,760 Maybe because we are playing safe 632 00:34:42,880 --> 00:34:45,360 as far as our marketing activities are concerned. 633 00:34:45,440 --> 00:34:46,480 I won't deny that. 634 00:34:46,560 --> 00:34:48,000 What's your marketing budget? 635 00:34:48,080 --> 00:34:49,680 If we achieve a sale of Rs. 1 crore 636 00:34:49,800 --> 00:34:51,920 in our business in one month, 637 00:34:52,000 --> 00:34:54,400 - around Rs. 6 lakhs is used for marketing. - That's it? 638 00:34:54,480 --> 00:34:56,520 - So that's all you spend on marketing? - Yes. 639 00:34:56,600 --> 00:34:57,720 Amazing! 640 00:34:58,280 --> 00:34:59,640 When we take a closer look at this category, 641 00:34:59,720 --> 00:35:02,320 we realise that you have a lot of SKUs. 642 00:35:02,400 --> 00:35:04,440 [suspenseful music] 643 00:35:07,080 --> 00:35:09,720 - or do you have SKU inventory? - I maintain an inventory. 644 00:35:16,280 --> 00:35:18,120 [dramatic music] 645 00:35:18,200 --> 00:35:21,080 Do you have an inventory system 646 00:35:21,160 --> 00:35:22,520 that saves it from drying up? 647 00:35:22,600 --> 00:35:26,080 We order material from factories 648 00:35:26,200 --> 00:35:29,640 after analysing the data. 649 00:35:29,720 --> 00:35:33,160 We anticipate the monthly sales from each SKU 650 00:35:33,280 --> 00:35:35,920 and we maintain the inventory accordingly. 651 00:35:36,400 --> 00:35:39,200 Our payment term with our vendors is of 45 days. 652 00:35:39,280 --> 00:35:41,600 So we make efforts to liquidate 653 00:35:41,720 --> 00:35:44,280 the stock we ordered and get the payment. 654 00:35:44,360 --> 00:35:47,160 - So it's negative working capital. You don't invest more money. - Yes! 655 00:35:51,720 --> 00:35:53,280 You were telling us about the design. 656 00:35:53,360 --> 00:35:56,640 Yes. In terms of design, we don't introduce 657 00:35:56,720 --> 00:36:00,120 trendy or fashionable products. 658 00:36:00,200 --> 00:36:02,960 For example, if neon colours are in trend... 659 00:36:03,040 --> 00:36:04,640 Aman wears them but you don't. 660 00:36:05,160 --> 00:36:07,080 For example, the glass he's wearing. 661 00:36:07,160 --> 00:36:09,800 My shoes, t-shirt and all other things are neon-coloured. 662 00:36:09,880 --> 00:36:11,240 Oh! [chuckling] 663 00:36:12,640 --> 00:36:16,440 We don't introduce a product that's too fashionable. 664 00:36:16,520 --> 00:36:18,840 You mean you choose evergreen and classic products. 665 00:36:19,880 --> 00:36:22,520 Chhavi, firstly, I think 666 00:36:22,600 --> 00:36:24,360 you are one of the best entrepreneurs. 667 00:36:24,480 --> 00:36:26,040 I'm inspired by your story. 668 00:36:26,160 --> 00:36:29,840 Because you are doing a profitable business of Rs. 12 crores run rate 669 00:36:29,920 --> 00:36:31,400 which has a negative working capital. 670 00:36:31,480 --> 00:36:34,120 Very few people think about it in the early stages. 671 00:36:35,240 --> 00:36:37,520 It's a bit conflicting for me. 672 00:36:37,600 --> 00:36:39,520 There's a company named Wari. 673 00:36:39,600 --> 00:36:40,920 I invested in it. 674 00:36:41,040 --> 00:36:43,560 And it has recently raised a huge capital. 675 00:36:43,640 --> 00:36:46,080 Your brand is in a similar space. 676 00:36:46,200 --> 00:36:48,680 So as of now, I can't invest in your company. 677 00:36:48,760 --> 00:36:50,280 But your business is great. 678 00:36:50,400 --> 00:36:53,040 I'm 100% sure, you'll get an offer here. 679 00:36:53,160 --> 00:36:55,120 So best of luck! But I'm out. 680 00:36:55,840 --> 00:36:57,040 [sweeping music] 681 00:36:57,160 --> 00:36:59,800 Do you own all the equity? Or is it family-owned? 682 00:36:59,880 --> 00:37:02,040 It's shared between my father and me in the documents. 683 00:37:02,120 --> 00:37:03,760 But no money was raised from an angel? 684 00:37:03,840 --> 00:37:08,120 No! Last year, I raised Rs. 35 lakhs plus debt. 685 00:37:08,200 --> 00:37:09,960 The debt is completely paid off. 686 00:37:10,080 --> 00:37:12,080 And I had raised Rs. 35 lakhs 687 00:37:12,200 --> 00:37:14,520 against Rs. 18 crores valuation. 688 00:37:14,600 --> 00:37:16,280 Last year, what month? 689 00:37:16,360 --> 00:37:17,200 Last year, April. 690 00:37:17,280 --> 00:37:19,720 And I got it after I made a turnover of more than Rs. 4.2 crores. 691 00:37:19,840 --> 00:37:21,640 Chhavi, I'll give you an offer. 692 00:37:23,200 --> 00:37:25,040 - Yes, please! - Wow! Offer! 693 00:37:25,120 --> 00:37:27,400 Offer! Offer! Offer! 694 00:37:27,520 --> 00:37:29,960 You are fantastic! 695 00:37:30,080 --> 00:37:31,560 The confidence and clarity 696 00:37:31,640 --> 00:37:33,960 with which you are talking 697 00:37:34,040 --> 00:37:36,280 - is just fabulous. - Thank you! 698 00:37:36,360 --> 00:37:39,080 So, I'll give you an offer of Rs. 50 lakhs 699 00:37:46,720 --> 00:37:48,120 So that's my offer to you. 700 00:37:48,800 --> 00:37:51,280 - Thank you so much for the offer. - I think the offer's great. 701 00:37:51,360 --> 00:37:54,760 And I think you can do very well with the portfolio you've got. 702 00:37:54,920 --> 00:37:56,560 I have just one suggestion. 703 00:37:56,680 --> 00:37:59,160 Double down on your marketing spends. 704 00:37:59,920 --> 00:38:00,760 Definitely. 705 00:38:00,840 --> 00:38:02,640 Spend a little more on brand building. 706 00:38:02,720 --> 00:38:04,440 - Hmm. - The market is building. 707 00:38:04,520 --> 00:38:06,080 You need to get ahead 708 00:38:06,440 --> 00:38:09,080 so that it's tough for competitors to catch up with you. 709 00:38:09,160 --> 00:38:10,720 - Absolutely, yes. - And I'm out 710 00:38:10,800 --> 00:38:12,680 because you've got a fantastic offer. 711 00:38:13,680 --> 00:38:15,080 It's a very exciting category, 712 00:38:15,200 --> 00:38:18,600 but I've made my decision. So, let me tell you. 713 00:38:18,680 --> 00:38:20,880 - Look... - It would pair well with your company. 714 00:38:21,000 --> 00:38:22,840 - People will get married and build homes. - Whoa! 715 00:38:22,920 --> 00:38:24,200 - Next step! - [laughter] 716 00:38:24,280 --> 00:38:26,040 - Great. - It's wonderful. 717 00:38:27,280 --> 00:38:29,120 You'd have to give me money. 718 00:38:29,320 --> 00:38:30,800 [laughter] 719 00:38:30,960 --> 00:38:33,800 You've done a really good job with your business so far. 720 00:39:04,000 --> 00:39:05,320 But let me tell you my offer. 721 00:39:05,400 --> 00:39:07,520 It was supposed to be Rs. 50 lakhs for 5%. 722 00:39:08,680 --> 00:39:11,720 - But Namita has given you... - They always cheat people. 723 00:39:11,840 --> 00:39:13,080 Mine's a very fair offer. 724 00:39:13,160 --> 00:39:15,600 Namita's offer is Rs. 50 lakhs for 2%. 725 00:39:15,720 --> 00:39:18,520 I think it's the only offer you have and you can decide. 726 00:39:19,560 --> 00:39:21,400 Listen, accept Namita's offer. 727 00:39:21,480 --> 00:39:25,880 I am curious to see how a red chilli and a green chilli get along! 728 00:39:25,960 --> 00:39:28,440 That's a great perspective! 729 00:39:28,520 --> 00:39:30,200 That's a great perspective! 730 00:39:30,320 --> 00:39:32,400 Hang on, let me laugh. It was a good joke. 731 00:39:33,280 --> 00:39:35,520 - For a change. - [unanimous laughter] 732 00:39:36,400 --> 00:39:38,160 [intense music playing] 733 00:39:38,680 --> 00:39:41,920 Done. So, you have an offer from the red chilli. 734 00:39:42,040 --> 00:39:44,360 Your offer is definitely great. 735 00:39:44,440 --> 00:39:46,400 And I know your value. 736 00:39:46,480 --> 00:39:50,800 So, I won't negotiate with you over 1 or 2% at all. 737 00:39:50,880 --> 00:39:52,520 - Alright, let's do it. - So, I'll take your offer. 738 00:39:59,160 --> 00:40:00,960 - I watched the episode recently. - Very similar. 739 00:40:01,040 --> 00:40:02,720 - Thank you so much. - Oh my God! 740 00:40:02,840 --> 00:40:05,560 Close the deal with a pinch! 741 00:40:05,640 --> 00:40:07,760 - [camera shutter clicks] - [euphoric music playing] 742 00:40:07,840 --> 00:40:09,280 - Well done, Chhavi. - Thank you. 743 00:40:09,360 --> 00:40:11,200 It was very nice meeting all of you. Thank you. 744 00:40:11,280 --> 00:40:12,120 Good luck. 745 00:40:12,200 --> 00:40:14,120 [euphoric music playing] 746 00:40:14,400 --> 00:40:16,560 - Good deal. - I love this. 747 00:41:23,200 --> 00:41:25,400 'Let's get to the Shark Xperience.' 748 00:41:25,560 --> 00:41:29,000 'Anupam, Rishi from Bhopal wants to know' 749 00:41:29,600 --> 00:41:33,520 'what kind of relationship should investors and entrepreneurs share?' 750 00:41:34,880 --> 00:41:38,120 The relationship between Investors and entrepreneurs 751 00:41:38,240 --> 00:41:39,840 should be like a marriage. 752 00:41:40,440 --> 00:41:43,120 A marriage becomes successful 753 00:41:43,440 --> 00:41:46,280 only when both partners have mutual respect for each other 754 00:41:46,480 --> 00:41:49,200 and they understand each other's needs. 755 00:41:49,320 --> 00:41:51,840 If you look at it from the point of view of investors,