1 00:00:10,040 --> 00:00:11,760 [music playing] 2 00:00:31,800 --> 00:00:33,200 [theme music playing] 3 00:00:53,840 --> 00:00:55,000 [music fades] 4 00:00:55,440 --> 00:00:58,440 Hi, Sharks. I am Richa and I'm 32 years old. 5 00:00:58,560 --> 00:00:59,440 I'm Vani. 6 00:01:02,400 --> 00:01:05,240 Richa and I have been through many phases in the past few years. 7 00:01:05,320 --> 00:01:06,760 Teenage and motherhood. 8 00:01:06,880 --> 00:01:08,920 We also witnessed many changes, 9 00:01:09,000 --> 00:01:11,880 but teens saw the most change thanks to social media. 10 00:01:13,160 --> 00:01:15,960 The age from eight years to early adulthood 11 00:01:16,200 --> 00:01:17,760 is quite a sensitive phase. 12 00:01:18,320 --> 00:01:20,800 Girls experience a lot of changes. 13 00:01:20,920 --> 00:01:23,480 Emotional as well as hormonal changes. 14 00:01:23,840 --> 00:01:26,520 - Their bodies undergo constant change. - That's right. 15 00:01:26,640 --> 00:01:30,680 During this stage, they need acceptance and confidence. 16 00:01:30,840 --> 00:01:31,640 Hmm. 17 00:01:31,720 --> 00:01:33,400 Innerwear has an important part to play 18 00:01:33,480 --> 00:01:35,720 in that acceptance and confidence. 19 00:01:36,160 --> 00:01:38,680 And so, we present to you D'chica. 20 00:01:38,880 --> 00:01:40,280 [music playing] 21 00:01:42,200 --> 00:01:44,160 D'chica is an innerwear brand 22 00:01:59,680 --> 00:02:00,880 And that is why, 23 00:02:01,000 --> 00:02:03,080 today, we're not just their favourites, 24 00:02:03,160 --> 00:02:05,560 but that of their moms too. 25 00:02:05,760 --> 00:02:07,840 We want to make D'chica 26 00:02:07,960 --> 00:02:10,760 the BFF of every teenage girl and young woman. 27 00:02:26,680 --> 00:02:27,480 - Thank you. - Thank you. 28 00:02:32,400 --> 00:02:34,720 - She's my brother's wife and is younger than me. - Oh. 29 00:02:34,920 --> 00:02:39,680 We started a business together in 2014. 30 00:02:39,920 --> 00:02:42,840 We ended up burning our fingers badly. 31 00:02:42,920 --> 00:02:44,920 - What was it into? - Kids wear. 32 00:02:49,200 --> 00:02:51,760 - We lost Rs. 70 lakhs. - Okay. 33 00:02:51,840 --> 00:02:54,360 - Yours or had you raised it? - Ours, we hadn't raised money. 34 00:02:54,440 --> 00:02:57,040 - Oh! - We call it an expensive B-school! 35 00:02:57,120 --> 00:02:58,320 - I see. - [laughter] 36 00:02:58,520 --> 00:03:00,040 That's a good way... 37 00:03:00,160 --> 00:03:02,720 - I loved it. - A good way to look at it. 38 00:03:02,840 --> 00:03:06,040 By 2018, we'd realised that this is not going to work. 39 00:03:06,120 --> 00:03:07,800 So, we were thinking what to do next. 40 00:03:08,000 --> 00:03:10,000 We tried to find the market gap 41 00:03:10,120 --> 00:03:11,680 and were always in survey mode. 42 00:03:11,760 --> 00:03:15,040 Back in 2018-19, if we looked up Amazon or others 43 00:03:15,120 --> 00:03:18,360 for youth bras or innerwear for girls, 44 00:03:18,560 --> 00:03:22,240 we'd see middle-aged ladies modelling innerwear. 45 00:03:22,320 --> 00:03:23,640 If I were a mother, 46 00:03:23,760 --> 00:03:26,640 I wouldn't find it right to buy that for my daughter. 47 00:03:26,840 --> 00:03:28,920 If were a teen, I wouldn't connect with it. 48 00:03:29,000 --> 00:03:32,120 It's boring. Why should I wear what a middle-aged woman is wearing? 49 00:03:32,400 --> 00:03:33,840 So, we knew the gap existed. 50 00:03:33,920 --> 00:03:37,000 We launched our first innerwear collection in 2020. 51 00:03:41,040 --> 00:03:43,360 - I come from a media background. - Okay. 52 00:03:43,480 --> 00:03:45,320 I studied Journalism from LSR, Delhi. 53 00:03:54,960 --> 00:03:56,680 Do you do the manufacturing yourself 54 00:03:56,760 --> 00:03:58,760 or have you given a contract to someone for it? 55 00:03:58,920 --> 00:04:01,840 We currently have five manufacturing units 56 00:04:01,920 --> 00:04:03,320 which we operate out of. 57 00:04:07,880 --> 00:04:08,880 That's the whole thing. 58 00:04:08,960 --> 00:04:10,680 The competition is a big white space. 59 00:04:10,760 --> 00:04:12,840 People treat this as a category extension. 60 00:04:12,960 --> 00:04:14,240 Which is the biggest brand? 61 00:04:14,400 --> 00:04:16,440 - Jockey is the biggest brand. - Jockey. 62 00:04:16,520 --> 00:04:19,040 Miss Jockey has eight to nine styles mostly. 63 00:04:19,360 --> 00:04:21,480 - I could show you our products. - Please. 64 00:04:21,600 --> 00:04:22,920 [light-hearted music playing] 65 00:04:28,080 --> 00:04:28,960 Thank you. 66 00:04:29,640 --> 00:04:31,360 This is a normal cotton panty. 67 00:04:33,400 --> 00:04:34,960 Very good feel to the fabric. 68 00:04:35,040 --> 00:04:36,320 - Good. Soft cotton. - Almost 100% cotton. 69 00:04:36,400 --> 00:04:37,280 Combed cotton. 70 00:04:37,360 --> 00:04:39,240 - There's a bit of Lycra for stretchability. - Yes. 71 00:04:39,320 --> 00:04:40,280 - Otherwise, it's fantastic. - Yes. 72 00:04:40,400 --> 00:04:41,920 - 95 and 5. - You haven't used polyester. 73 00:04:42,000 --> 00:04:44,440 You have not retained hooks in this. 74 00:04:44,520 --> 00:04:46,120 None of our products have hooks. 75 00:04:46,240 --> 00:04:47,600 - So that it's easier to wear. - Yes. 76 00:04:47,680 --> 00:04:49,360 - Less stressful. - They poke you. 77 00:04:49,440 --> 00:04:50,400 - Right. - We still remember. 78 00:04:50,480 --> 00:04:52,720 Our first experience wasn't comfortable. 79 00:04:53,080 --> 00:04:55,920 Also, this is a common problem in women's innerwear. 80 00:04:56,000 --> 00:04:57,560 You had to choose from a few sports bras 81 00:04:57,640 --> 00:05:00,080 or cupped bras 82 00:05:00,160 --> 00:05:03,280 with problems in sizing and discomfort. 83 00:05:03,640 --> 00:05:06,480 Richa has developed silhouettes that are stretchable. 84 00:05:06,560 --> 00:05:08,840 Dr. Garima is a new angle. 85 00:05:08,920 --> 00:05:12,560 - No? - Dr. Garima is a consulting gynaecologist with us. 86 00:05:12,800 --> 00:05:14,000 This is something new. 87 00:05:14,720 --> 00:05:16,440 Yes, we do it for community building. 88 00:05:23,080 --> 00:05:25,160 where they used to ask not only about the product 89 00:05:25,280 --> 00:05:26,920 but very personal questions 90 00:05:27,000 --> 00:05:30,160 which they probably couldn't have asked their families or others. 91 00:05:30,240 --> 00:05:31,640 Who's the CEO among you? 92 00:05:31,760 --> 00:05:33,680 We haven't filled in the designation of the CEO yet. 93 00:05:33,760 --> 00:05:34,720 - I take all the... - Why not? 94 00:05:34,800 --> 00:05:36,800 We lacked scale although we're looking at it. 95 00:05:36,880 --> 00:05:39,840 We recently pulled in my brother for fulfilment. 96 00:05:39,920 --> 00:05:42,040 - Once he's ready in a few months... - Your husband. 97 00:05:42,120 --> 00:05:43,280 I'll take on the CEO's role 98 00:06:05,760 --> 00:06:07,880 - [laughter] - So, 25 crores... 99 00:06:08,440 --> 00:06:10,360 We got Rs. 25 crores pre-money back then. 100 00:06:36,680 --> 00:06:38,480 Our burn last month was Rs. 10 lakhs, 101 00:06:45,240 --> 00:06:46,240 No, it's more than that. 102 00:06:46,320 --> 00:06:48,640 - Let me tell you everything. - [laughter] 103 00:07:47,120 --> 00:07:49,840 Don't you think this team is too big for your size? 104 00:07:49,920 --> 00:07:51,240 This team is big 105 00:08:26,120 --> 00:08:28,520 It's going to 120 days right now 106 00:08:58,960 --> 00:09:00,280 Let me tell you this, Vani. 107 00:09:00,360 --> 00:09:02,320 If you've burnt Rs. 2.8 crores last year, 108 00:09:06,600 --> 00:09:07,920 I could give you... 109 00:09:08,080 --> 00:09:09,960 - Listen to her. - What you're not factoring is 110 00:09:10,040 --> 00:09:12,120 that you'll have a 20% return... 111 00:09:12,240 --> 00:09:14,240 Rs. 97 lakhs is net of returns. 112 00:09:14,320 --> 00:09:16,040 - That hasn't come in yet. - I... 113 00:09:16,160 --> 00:09:18,760 When you're operating at 120 days of credit, 114 00:09:18,840 --> 00:09:20,880 it's as good as returns. 115 00:09:21,000 --> 00:09:23,800 On average, my offline return rate 116 00:09:24,000 --> 00:09:25,320 - is broadly 30%. - Okay, listen! 117 00:09:25,400 --> 00:09:27,520 - You... - It doesn't work like that, Vani and Richa. 118 00:09:28,000 --> 00:09:31,960 Right before the financial year, so many of the goods are sent back 119 00:09:32,120 --> 00:09:34,000 that all your previous numbers go for a toss. 120 00:09:34,120 --> 00:09:37,560 - For the full year. - We've already done that because we... 121 00:09:37,640 --> 00:09:38,800 - We appreciate that. - Please go on. 122 00:09:38,880 --> 00:09:41,440 If at Rs. 10 crore sales, you're at -2.8 crores, 123 00:09:41,520 --> 00:09:46,520 bringing any business from -20% to 0% in six months 124 00:09:46,720 --> 00:09:48,800 without severely impacting business... 125 00:09:48,880 --> 00:09:51,000 I can give you the math too. 126 00:09:51,080 --> 00:09:53,320 There's optimism in the math is what I'm telling you... 127 00:09:53,400 --> 00:09:55,040 - No, it's not... - We can end this conversation 128 00:09:55,120 --> 00:09:56,520 and we can go back to Aman. 129 00:09:59,920 --> 00:10:01,320 Oh! You don't think it's catchy. 130 00:10:01,400 --> 00:10:02,600 Wasn't just Chica good? 131 00:10:02,720 --> 00:10:05,160 - It's not... - We didn't find it catchy enough. 132 00:10:05,240 --> 00:10:06,280 Bro, I think he's right. 133 00:10:06,360 --> 00:10:08,600 Chica is a fantastic name for you 134 00:10:08,720 --> 00:10:10,280 that is, if it's not taken in India. 135 00:10:11,200 --> 00:10:13,520 Your logo is also quite loud. 136 00:10:13,600 --> 00:10:17,880 - Gen Alpha is moving towards clean from loud. - Yes. 137 00:10:19,720 --> 00:10:21,320 It's working so far. The kids are liking... 138 00:10:21,400 --> 00:10:23,400 I shouldn't use kids. It's a non-brand word. 139 00:10:23,480 --> 00:10:24,960 - Teens are liking it. - The thing about kids is 140 00:10:25,040 --> 00:10:28,280 that eleven-year-olds don't think of themselves as kids. 141 00:10:28,400 --> 00:10:30,440 They'll think of your logo as childish. 142 00:10:30,560 --> 00:10:31,560 So, what happened was 143 00:10:31,560 --> 00:10:35,480 we actually showed this logo to 50 different teams. 144 00:10:35,560 --> 00:10:37,000 It had a few versions. 145 00:10:37,360 --> 00:10:40,720 On the basis of that, this logo had the most acceptance. 146 00:10:40,800 --> 00:10:42,240 We also liked it. 147 00:10:42,320 --> 00:10:45,040 - A 15-year-old wouldn't find this childish. - Not at all. 148 00:10:46,600 --> 00:10:49,600 So, Vani and Richa, unfortunately... 149 00:10:49,680 --> 00:10:50,600 I want to be in, 150 00:10:50,680 --> 00:10:52,520 but I don't think I'll get my money back. 151 00:10:53,440 --> 00:10:54,600 - Ugh... - [laughter] 152 00:10:54,800 --> 00:10:56,760 No, you will. I'll give you some more figures. 153 00:10:56,840 --> 00:10:58,640 - You'll be convinced. - You... 154 00:10:58,760 --> 00:11:01,480 - I'm not convinced about you, sorry. - Oh! 155 00:11:01,560 --> 00:11:04,880 I believe you and I won't be able to work together if we collaborate. 156 00:11:05,000 --> 00:11:08,320 So, unfortunately, I'll have to be out. 157 00:11:08,520 --> 00:11:10,200 I would have loved it had you been in 158 00:11:10,320 --> 00:11:11,920 because my daughter really likes you. 159 00:11:12,000 --> 00:11:13,440 - I'd like your autograph. - Ah! 160 00:11:13,520 --> 00:11:15,080 She bought a pair of boAt headphones 161 00:11:15,160 --> 00:11:16,400 because it's Aman Gupta's company. 162 00:11:16,520 --> 00:11:18,160 That's good. Do buy more headphones. 163 00:11:18,240 --> 00:11:19,200 No, but thank you so much. 164 00:11:19,280 --> 00:11:21,600 Don't stop buying headphones just because I'm out. 165 00:11:21,720 --> 00:11:22,720 [all laugh] 166 00:11:23,440 --> 00:11:25,000 - Vani and Richa. - Hmm. 167 00:11:25,400 --> 00:11:27,720 The communication dynamic is just so odd. 168 00:11:27,800 --> 00:11:29,880 I'm not able to put my finger on it. 169 00:11:30,360 --> 00:11:31,200 Okay. 170 00:11:31,720 --> 00:11:34,440 You talk a lot and don't listen. 171 00:11:34,760 --> 00:11:36,480 Is that a normal thing for you? 172 00:11:36,560 --> 00:11:37,440 You tell us, Richa. 173 00:11:37,440 --> 00:11:39,600 I think she's very confident with her numbers. 174 00:11:39,720 --> 00:11:42,440 We feel we're doing it right. We just want to explain it to you. 175 00:11:42,520 --> 00:11:44,400 I understand, but do you understand one thing? 176 00:11:44,520 --> 00:11:46,160 You already have offers. 177 00:11:46,240 --> 00:11:47,880 - You have soft commitments. - Yes. 178 00:11:48,000 --> 00:11:49,240 Why are you here then? 179 00:11:49,320 --> 00:11:51,520 We would get your inputs. 180 00:11:51,600 --> 00:11:52,840 For that, you need to listen. 181 00:11:57,920 --> 00:12:00,600 You believe that we possess a certain experience 182 00:12:00,800 --> 00:12:03,600 - that might accelerate your journey. - Definitely. 183 00:12:03,720 --> 00:12:05,040 Let me give you an example. 184 00:12:05,160 --> 00:12:08,920 I wanted to say it earlier also but you didn't give me the chance. 185 00:12:09,000 --> 00:12:12,880 The games you're playing in terms of inventory and distribution, 186 00:12:13,000 --> 00:12:15,760 you're going to have a huge problem before the end of this year 187 00:12:15,920 --> 00:12:18,360 when your goods come back to you 188 00:12:18,480 --> 00:12:20,560 and your numbers will not make sense, right? 189 00:12:20,640 --> 00:12:22,440 You have to be open to understanding. 190 00:12:22,560 --> 00:12:26,280 You just do not wish to accept it. 191 00:12:27,000 --> 00:12:29,600 I don't see that spark right now, so I'm out. 192 00:12:30,360 --> 00:12:31,240 Good luck. 193 00:12:31,680 --> 00:12:32,880 [tense music playing] 194 00:12:33,920 --> 00:12:36,520 Look. I always have this dilemma in Shark Tank. 195 00:12:36,600 --> 00:12:39,680 The categories I'm not interested in have really amazing founders 196 00:12:39,760 --> 00:12:40,880 and I get excited. 197 00:12:41,000 --> 00:12:43,720 Today, it's the opposite. I really like this category 198 00:12:43,920 --> 00:12:47,640 but I don't quite understand the founders. 199 00:12:47,720 --> 00:12:49,440 - What don't you understand? - Our ability to work together. 200 00:12:49,520 --> 00:12:51,560 - "What don't you understand?" - You don't listen. 201 00:12:51,640 --> 00:12:53,760 - You know, you... - I listen. 202 00:12:53,880 --> 00:12:56,480 I mean, we can do this together or as you wish. 203 00:12:56,560 --> 00:12:57,640 What about you, Namita? 204 00:12:57,920 --> 00:12:59,120 [pensive music playing] 205 00:13:00,520 --> 00:13:01,680 Let's go aside and talk. 206 00:13:06,080 --> 00:13:08,920 What's the unorganised and organised market size? 207 00:13:23,120 --> 00:13:25,200 and teenage girls is 12 crores. 208 00:13:25,440 --> 00:13:27,520 So, if their population is 20%... 209 00:13:27,640 --> 00:13:30,080 If we take a conservative estimate of 10%, 210 00:13:36,840 --> 00:13:38,160 What's their sale in this category? 211 00:13:38,240 --> 00:13:40,240 - Miss Jockey's. - We couldn't get their sales 212 00:13:40,320 --> 00:13:42,480 because their numbers weren't clear anywhere online. 213 00:13:42,600 --> 00:13:45,120 What are Jockey's sales on Amazon as well as yours? 214 00:13:45,200 --> 00:13:46,080 That'll give us an idea. 215 00:14:10,240 --> 00:14:11,560 Today, I am out, 216 00:14:11,640 --> 00:14:13,400 - but I wish you all the best with the other Sharks. - Thank you. 217 00:14:14,080 --> 00:14:16,640 Vineeta and I are giving you an offer. 218 00:14:16,920 --> 00:14:18,680 [joyous music playing] 219 00:14:19,320 --> 00:14:22,280 What we like about your business is the category. 220 00:14:22,440 --> 00:14:23,800 You're also focusing on education. 221 00:14:23,880 --> 00:14:26,040 I think that's fabulous. Much needed. 222 00:14:26,320 --> 00:14:28,880 There are a lot of things that we don't like, right? 223 00:14:29,200 --> 00:14:31,160 Number one, inventory management. 224 00:14:42,680 --> 00:14:43,760 because I don't listen either. 225 00:14:43,920 --> 00:14:44,840 I talk a lot. 226 00:14:44,920 --> 00:14:46,640 - That's great. - That to me is not a problem. 227 00:14:46,760 --> 00:14:48,040 Please invite me to that board meeting. 228 00:14:48,120 --> 00:14:49,440 - That will make me... - Who will listen? 229 00:14:49,520 --> 00:14:50,960 [all laugh] 230 00:14:51,200 --> 00:14:53,200 So, what we'd like to give you is 231 00:14:53,320 --> 00:14:56,240 Rs. 80 lakhs for 2.5% equity 232 00:14:56,320 --> 00:14:58,400 which comes to about Rs. 32 crores. 233 00:14:58,800 --> 00:15:02,160 And royalty at 1% given that you're breaking even... 234 00:15:11,560 --> 00:15:14,000 You've given a lot of information very honestly. 235 00:15:14,120 --> 00:15:15,240 Nobody comes here 236 00:15:15,360 --> 00:15:18,360 and gives the offline tertiary data willingly. 237 00:15:18,560 --> 00:15:22,240 It just shows that you have too much enthusiasm, 238 00:15:22,360 --> 00:15:24,280 but you're honest and you don't lie. 239 00:15:25,760 --> 00:15:28,400 So, Namita, we had raised 240 00:15:39,880 --> 00:15:42,080 - We're willing to do Rs 80 lakhs for 2% equity... 80 lakhs 241 00:15:42,160 --> 00:15:44,680 Which by the way, is very generous 242 00:15:44,880 --> 00:15:46,560 given your offline dynamics, 243 00:16:07,280 --> 00:16:09,640 We'll help you. I think this is a fabulous... 244 00:16:14,520 --> 00:16:15,640 Vani, what's your daughter's name? 245 00:16:15,760 --> 00:16:16,600 Devyani. 246 00:16:16,680 --> 00:16:18,360 - I'll just write... - Oh! Thank you so much. 247 00:16:18,440 --> 00:16:19,680 Only she can open it. 248 00:16:19,880 --> 00:16:21,720 - Aw! - Aw! 249 00:16:21,840 --> 00:16:23,800 - Just give it to her. - What a sweet guy. 250 00:16:23,960 --> 00:16:25,560 Thank you so much. She will love it. 251 00:16:25,680 --> 00:16:26,960 - Thank you. - All the best. 252 00:16:27,200 --> 00:16:28,600 [joyous music playing] 253 00:17:40,160 --> 00:17:41,360 [music fades] 254 00:17:42,560 --> 00:17:44,080 [theme music playing] 255 00:18:04,840 --> 00:18:06,280 [music fades] 256 00:18:06,560 --> 00:18:07,360 Hi, Sharks. 257 00:18:07,480 --> 00:18:10,840 I'm a new smartphone. People queue up to buy me. 258 00:18:11,520 --> 00:18:12,640 I'm in high demand. 259 00:18:12,840 --> 00:18:14,200 It's the same with me. 260 00:18:14,400 --> 00:18:15,680 - Liar! - [laughs] 261 00:18:15,840 --> 00:18:16,960 How are you the same? 262 00:18:17,040 --> 00:18:18,760 You're a second-hand phone. 263 00:18:18,880 --> 00:18:21,680 Hey, I'm no second-hand or old device. 264 00:18:21,760 --> 00:18:23,240 I'm a refurbished device. 265 00:18:24,120 --> 00:18:26,680 Just as old houses are renovated, 266 00:18:26,760 --> 00:18:29,480 I, too, am fully renovated. 267 00:18:29,560 --> 00:18:31,480 Scram! No one will believe you. 268 00:18:32,000 --> 00:18:34,520 Guess what? I come with a warranty. 269 00:18:34,640 --> 00:18:35,760 - Really? - That's not all. 270 00:18:35,840 --> 00:18:36,960 I'm quite affordable. 271 00:18:37,080 --> 00:18:40,280 You won't have to sell a kidney to buy me! 272 00:18:41,600 --> 00:18:42,640 - Is that so? - Yes. 273 00:18:42,720 --> 00:18:43,840 Then you're the same. 274 00:18:43,960 --> 00:18:45,000 [music fades] 275 00:18:46,600 --> 00:18:48,520 Greetings, Sharks. I'm Avneet. 276 00:18:52,040 --> 00:18:53,160 We're from Delhi 277 00:18:53,280 --> 00:18:55,440 and we furbish old phones 278 00:19:04,200 --> 00:19:06,000 he gives his old phone in exchange. 279 00:19:06,080 --> 00:19:08,000 We procure these exchanged phones 280 00:19:08,080 --> 00:19:10,200 from big platforms like Amazon, Flipkart 281 00:19:33,600 --> 00:19:35,800 we've recently launched 282 00:19:46,800 --> 00:19:49,000 It has very few branded players. 283 00:19:49,240 --> 00:19:50,240 Our vision is 284 00:19:50,320 --> 00:19:51,800 to become a one-stop destination 285 00:19:52,000 --> 00:19:54,320 for consumers in the refurbished market 286 00:19:54,400 --> 00:19:56,040 for every refurbished product. 287 00:19:56,280 --> 00:19:58,080 So, our ask is 288 00:20:06,720 --> 00:20:08,880 This is available everywhere. 289 00:20:09,040 --> 00:20:13,400 People refurbish old phones and then sell them. 290 00:20:13,480 --> 00:20:18,000 What sets you apart from everyone else? 291 00:20:28,240 --> 00:20:31,600 with its authentic parts. 292 00:20:31,720 --> 00:20:34,760 We conduct a dual test on it before running an app. 293 00:20:34,840 --> 00:20:38,600 We run a test when we receive the phone in a certain condition. 294 00:20:38,720 --> 00:20:40,400 We test it once again once it is repaired. 295 00:20:54,280 --> 00:20:55,800 But there are more businesses like yours. 296 00:20:55,880 --> 00:20:57,400 - Cashify! - Cashify! 297 00:20:57,640 --> 00:20:59,480 You said 1.5 million, right? 298 00:20:59,560 --> 00:21:01,600 - 1.5 million phones. - 1.5 million phones. 299 00:21:01,680 --> 00:21:03,640 When it comes to phones, 300 00:21:03,760 --> 00:21:05,280 how many have Cashify sold? 301 00:21:05,360 --> 00:21:06,960 In terms of number, they are three times more. 302 00:21:07,040 --> 00:21:08,160 It makes them larger in size. 303 00:21:08,920 --> 00:21:11,040 - Right! - What is the difference between them and you? 304 00:21:11,120 --> 00:21:13,280 In the beginning, 305 00:21:13,360 --> 00:21:15,440 our sole focus was entirely on offline operations. 306 00:21:15,520 --> 00:21:17,680 There are no competitors in the market 307 00:21:17,680 --> 00:21:20,200 at the scale at which we operate within the offline channels. 308 00:21:21,120 --> 00:21:24,360 As of now, this overall industry is worth ¤5 million. 309 00:21:24,440 --> 00:21:27,760 This entire industry is growing at 19%. 310 00:21:27,840 --> 00:21:29,640 How much is the total electronics industry? 311 00:21:29,720 --> 00:21:30,920 It should be around ¤25 to ¤30 billion. 312 00:21:31,000 --> 00:21:33,800 The smartphone sector is valued at ¤25 billion. 313 00:21:42,520 --> 00:21:44,920 This is based on reports that were published three years ago. 314 00:21:45,000 --> 00:21:47,600 - You are saying it has compounded. - Yes. 315 00:21:48,560 --> 00:21:49,960 Let's get to the point. 316 00:21:50,080 --> 00:21:52,760 What is the magic behind the valuation of Rs. 400 crores? 317 00:21:52,880 --> 00:21:54,200 Tell us about your sales. 318 00:22:02,720 --> 00:22:04,080 What is B2R? Please elaborate. 319 00:22:04,280 --> 00:22:05,280 - Business to retailer. - Offline. 320 00:22:05,360 --> 00:22:07,160 - Business to retailer. - We sell it at retail stores. 321 00:22:07,280 --> 00:22:09,920 - Is there a distributor, or do you sell them directly? - Directly! 322 00:22:16,480 --> 00:22:18,120 How much business did you generate last month? 323 00:23:13,480 --> 00:23:15,280 Your PAT amounted to Rs. 2 crores 324 00:23:15,760 --> 00:23:17,400 on a sale of Rs. 170 crores. 325 00:23:17,520 --> 00:23:19,360 The profit was approximately 1.5%. 326 00:23:19,440 --> 00:23:21,120 - Yes, around 1.6%. - Okay. 327 00:23:21,200 --> 00:23:22,120 EBITDA... 328 00:23:22,200 --> 00:23:24,320 EBITDA was 1.67%. 329 00:23:24,720 --> 00:23:25,720 Hold on! 330 00:23:25,800 --> 00:23:28,600 - Your last year's sale was Rs. 187 crores. - Correct. 331 00:23:29,120 --> 00:23:30,240 How much was the profit? 332 00:23:30,320 --> 00:23:32,800 - 1.0... - In value. 333 00:23:33,080 --> 00:23:35,400 We made a profit of around Rs. 3.5 to Rs. 4 Crores. 334 00:23:35,480 --> 00:23:38,080 - Around Rs. 3.5 to Rs. 4 Crores... - After discounts. 335 00:23:38,200 --> 00:23:39,200 The number doesn't add up. 336 00:23:39,360 --> 00:23:40,760 [tense music playing] 337 00:23:42,000 --> 00:23:43,040 We are receiving varying figures. 338 00:23:43,040 --> 00:23:44,640 The PAT must not exceed Rs. 2 crores. 339 00:23:45,880 --> 00:23:49,160 What was the EBITDA value, not in terms of percentage? 340 00:23:50,040 --> 00:23:51,440 I will have to calculate the value. 341 00:23:51,520 --> 00:23:54,320 1.67% of 187. 342 00:23:55,920 --> 00:23:57,720 - It should be around Rs. 2.7 crores. - Yes. 343 00:24:10,840 --> 00:24:12,600 Didn't you take a loan? 344 00:24:12,680 --> 00:24:15,840 - We took a loan. - Then, EBITDA to PAT cannot be so low. 345 00:24:16,000 --> 00:24:17,920 [tense music playing] 346 00:24:18,640 --> 00:24:21,040 After EBITDA comes your interest cost. 347 00:24:21,200 --> 00:24:22,680 You pay tax to the government. 348 00:24:22,800 --> 00:24:24,680 The depreciation comes into it. 349 00:24:24,760 --> 00:24:26,440 - The balance sheets... - The numbers seem wrong. 350 00:24:27,880 --> 00:24:29,360 Why is there so much confusion 351 00:24:29,560 --> 00:24:30,800 with numbers? 352 00:24:30,880 --> 00:24:32,600 Converting in percentage... 353 00:24:32,680 --> 00:24:34,040 You should have a good idea 354 00:24:34,120 --> 00:24:36,640 of the sales and earnings your business generated last year. 355 00:24:38,240 --> 00:24:39,240 I am out. 356 00:24:41,520 --> 00:24:44,520 Whenever an entrepreneur comes to pitch, 357 00:24:44,640 --> 00:24:46,120 it is important to know the numbers. 358 00:24:46,200 --> 00:24:48,360 There are a lot of numbers. 359 00:24:48,440 --> 00:24:51,560 When we asked about industry numbers, you got confused. 360 00:24:51,680 --> 00:24:53,920 Then I asked for the number of sales, but you were unsure. 361 00:24:54,000 --> 00:24:57,480 Even when I asked about profit. You are confused with numbers. 362 00:24:57,560 --> 00:24:59,560 If you had been prepared better, 363 00:24:59,640 --> 00:25:01,960 I would have felt more confident to find out more. 364 00:25:03,520 --> 00:25:05,960 Let me tell you where I have an issue. 365 00:25:06,560 --> 00:25:11,360 Ensure that you clearly explain the distinction between repairing 366 00:25:11,680 --> 00:25:13,840 and refurbishing to your customers 367 00:25:13,920 --> 00:25:15,400 and investors 368 00:25:15,480 --> 00:25:18,280 in a straightforward manner. There was a lot of confusion. 369 00:25:18,400 --> 00:25:20,240 Second, as Aman said, 370 00:25:20,320 --> 00:25:23,360 financials should be on top of your mind. 371 00:25:23,840 --> 00:25:25,160 EBITDA and PAT 372 00:25:25,280 --> 00:25:27,800 are basic numbers. You should memorise them. 373 00:25:28,440 --> 00:25:30,520 And for these reasons, I am out. 374 00:25:31,760 --> 00:25:33,880 I have a couple of questions. 375 00:25:34,480 --> 00:25:37,520 You said that this market is around ¤2.5 to ¤3 billion. 376 00:25:37,840 --> 00:25:39,640 - Okay? - They said ¤5 billion. 377 00:25:39,720 --> 00:25:41,320 Rs. 40 thousand crores. 378 00:25:41,440 --> 00:25:43,240 Okay? Refurbish, not repair. 379 00:25:43,360 --> 00:25:44,800 - Refurbish, yes. - Refurbish! 380 00:25:44,880 --> 00:25:46,480 Two of the biggest players. 381 00:25:47,440 --> 00:25:49,680 Their total business is Rs. 1000 crores. 382 00:25:50,280 --> 00:25:51,440 Let's say Rs. 1500 crores. 383 00:25:52,160 --> 00:25:55,040 Where did Rs. 38,000 crores go? 384 00:25:55,800 --> 00:25:57,520 Anupam, like you said 385 00:25:57,600 --> 00:25:59,920 small channels... As we said at the beginning 386 00:26:00,000 --> 00:26:02,440 - the market is unorganised. - More than 80% of the market 387 00:26:02,520 --> 00:26:04,000 is still unorganised. 388 00:26:04,080 --> 00:26:05,120 It is 90%, not 50%. 389 00:26:05,200 --> 00:26:08,920 That is what I said. More than 80% to 90% market is unorganised. 390 00:26:09,000 --> 00:26:11,160 How many players do you think will survive till the end? 391 00:26:11,320 --> 00:26:12,240 [suspenseful music playing] 392 00:26:12,320 --> 00:26:15,200 What we believe is that seven or ten years down the line, 393 00:26:15,360 --> 00:26:18,800 - the big brands will enter the refurbished industry. -Yes. 394 00:26:18,920 --> 00:26:20,480 They will refurbish their phones 395 00:26:20,560 --> 00:26:23,680 - and sell them. - Will your business cease or will you sell it? 396 00:26:24,520 --> 00:26:25,720 No, that is not how it is. 397 00:26:25,800 --> 00:26:28,200 Until then, if we add value 398 00:26:28,280 --> 00:26:31,320 - in 10 years... - We might refurbish for them. 399 00:26:31,400 --> 00:26:33,240 How big is your next biggest competitor? 400 00:26:33,400 --> 00:26:34,840 Around Rs. 80 to 85 crores. 401 00:26:35,440 --> 00:26:38,040 - Clearly! - Do you think ReFit 402 00:26:38,120 --> 00:26:40,480 will focus on other gadgets too 403 00:26:40,560 --> 00:26:41,960 or will you only deal with phones? 404 00:26:41,960 --> 00:26:45,040 As of now, we want to concentrate on phones, Vineeta. 405 00:26:45,160 --> 00:26:46,480 - So, first... - What will happen in five years? 406 00:26:46,560 --> 00:26:48,720 After five years, we will continue to grow 407 00:26:48,800 --> 00:26:51,320 and establish trust and make it a one-stop destination in the future. 408 00:26:51,400 --> 00:26:53,920 - But for now... - Do you mean one place for other gadgets? 409 00:26:54,000 --> 00:26:57,280 We will be focused on mobile phones for now. 410 00:26:58,480 --> 00:26:59,640 How much loan did you take? 411 00:27:17,240 --> 00:27:19,880 that you know the numbers. I think you're a little confused. 412 00:27:19,960 --> 00:27:23,240 - Right? - Yes, sir. - I have an offer for you. 413 00:27:23,520 --> 00:27:25,920 [suspenseful music playing] 414 00:27:27,000 --> 00:27:29,480 Listen to me carefully. There are a couple of conditions. 415 00:27:31,120 --> 00:27:32,480 Amit, I want you to listen to this too. 416 00:27:33,200 --> 00:27:34,480 - Why me? - Why Amit? 417 00:27:34,560 --> 00:27:36,720 - There is a condition with Amit in it. - The offer is for them. 418 00:27:36,840 --> 00:27:39,360 - Amit is involved in the condition. - Okay, Amit. 419 00:27:39,640 --> 00:27:42,080 First of all, if Amit joins me... 420 00:27:42,200 --> 00:27:45,080 Because he has experience. Of course, not with phones. 421 00:27:45,160 --> 00:27:48,240 But understands refurbishing cars 422 00:27:48,360 --> 00:27:50,600 and what goes into it. The concept is similar. 423 00:27:50,680 --> 00:27:54,040 So, if he joins me, we will give you your ask of Rs. 2 crores. 424 00:27:55,160 --> 00:27:57,840 But I will take Rs. 100 as royalty on every phone. 425 00:27:57,960 --> 00:27:59,160 [tense music playing] 426 00:28:01,640 --> 00:28:02,760 That's not much. 427 00:28:02,840 --> 00:28:05,800 You said you sell a phone for Rs. 7,000. 428 00:28:06,000 --> 00:28:07,880 A royalty of Rs. 100 is not much. 429 00:28:08,000 --> 00:28:09,480 It's 1.50%. 430 00:28:09,560 --> 00:28:12,200 Until we make two times the money. 431 00:28:12,320 --> 00:28:14,200 Okay? Once it's Rs. 4 crores, 432 00:28:14,360 --> 00:28:16,360 you are off the hook on royalty. 433 00:28:16,920 --> 00:28:18,040 After that, 434 00:28:18,240 --> 00:28:20,680 we will take 1% equity in your business. 435 00:28:21,200 --> 00:28:22,520 0.5% for each of us. 436 00:28:25,200 --> 00:28:27,880 Okay! I will join Anupam's deal. 437 00:28:36,160 --> 00:28:38,560 But with a 14% gross margin... 438 00:28:38,640 --> 00:28:40,040 Forget net margin. 439 00:28:40,120 --> 00:28:42,920 It is difficult to create a brand with a 14% gross margin. 440 00:28:43,480 --> 00:28:46,280 Having said that, this is a sweet deal. 441 00:28:46,480 --> 00:28:47,480 Sweet for whom? 442 00:28:47,600 --> 00:28:49,960 For the Sharks. 443 00:28:50,760 --> 00:28:54,080 I'll stick with the deal 444 00:28:54,240 --> 00:28:55,560 Anupam and Amit agreed on. 445 00:28:55,640 --> 00:28:58,040 1.50% royalty 446 00:28:58,120 --> 00:29:00,680 on your annual sales 447 00:29:00,840 --> 00:29:02,520 until Rs. 4 crores is recouped 448 00:29:02,640 --> 00:29:05,720 from the initial Rs. 2 crores that I give you. 449 00:29:05,800 --> 00:29:07,360 That is 2x returns. 450 00:29:07,520 --> 00:29:10,840 And the equity you asked for, which is 0.5%. 451 00:29:20,480 --> 00:29:23,320 She took our deal and gave you a discount. 452 00:29:23,400 --> 00:29:25,040 [tense music playing] 453 00:29:25,680 --> 00:29:28,000 0.5% equity 454 00:29:28,080 --> 00:29:31,320 is Rs. 400 crores. I gave you a better deal of Rs. 400 crores. 455 00:29:33,600 --> 00:29:36,280 There is a reason why I said 'if Amit would join us'. 456 00:29:36,360 --> 00:29:38,640 Because he has expertise in this area. 457 00:29:38,800 --> 00:29:41,920 But you will have to go to Jaipur for his expertise. 458 00:29:42,000 --> 00:29:44,360 [suspenseful music playing] 459 00:29:47,000 --> 00:29:48,600 Is there any alternative 460 00:29:48,720 --> 00:29:50,480 to royalty that we can consider? 461 00:29:50,560 --> 00:29:52,160 Tell me! You can make a counteroffer. 462 00:29:52,280 --> 00:29:53,880 Just give us two minutes. 463 00:29:53,880 --> 00:29:56,240 - We would like to discuss. - Come back with a counteroffer. 464 00:29:58,000 --> 00:29:59,600 [suspenseful music playing] 465 00:30:00,920 --> 00:30:02,400 Sharks, we have a counteroffer. 466 00:30:02,480 --> 00:30:03,440 For whom? 467 00:30:03,800 --> 00:30:05,400 - For all three of you. - Three of us? Okay. 468 00:30:05,480 --> 00:30:06,520 Please tell us. 469 00:30:06,800 --> 00:30:08,960 Skip the royalty. 470 00:30:17,520 --> 00:30:19,560 and take Rs. 1 crore as equity 471 00:30:19,640 --> 00:30:21,160 - for 0.5%. - 0.5%. 472 00:30:26,760 --> 00:30:28,960 I also have a counteroffer. 473 00:30:29,040 --> 00:30:30,240 If Anupam agrees to it. 474 00:30:31,040 --> 00:30:33,400 We said we want Rs. 100 as royalty for each phone sold. 475 00:30:33,720 --> 00:30:35,840 Make it Rs. 70 royalty per phone. 476 00:30:41,200 --> 00:30:42,320 But you don't want to give royalty. 477 00:30:42,400 --> 00:30:43,680 - We don't. - Why not? 478 00:30:45,680 --> 00:30:47,920 - Are you businessmen? - We are. 479 00:30:48,000 --> 00:30:49,840 You are getting Rs. 2 crores. 480 00:30:49,920 --> 00:30:52,480 You mentioned that you are currently paying 481 00:30:52,960 --> 00:30:54,800 a 15% interest rate in the market. 482 00:30:55,120 --> 00:30:57,000 - But... - Hold on. 483 00:30:57,200 --> 00:30:59,160 This boils down to what Aman said. 484 00:30:59,160 --> 00:31:00,440 I don't think you understand business. 485 00:31:00,520 --> 00:31:02,080 [tense music playing] 486 00:31:03,360 --> 00:31:05,840 If you withdraw Rs. 2 crores from the market, 487 00:31:06,000 --> 00:31:08,280 please explain how much is 15% interest on Rs. 2 crores. 488 00:31:08,600 --> 00:31:09,880 - Rs. 30 lakhs. - Rs. 30 lakhs. 489 00:31:09,960 --> 00:31:11,560 We asked for Rs. 70. 490 00:31:12,400 --> 00:31:13,840 Considering Rs. 70 per phone, 491 00:31:13,960 --> 00:31:16,560 based on your current scale, you will pay 492 00:31:16,720 --> 00:31:17,960 less than Rs. 25 lakhs. 493 00:31:18,480 --> 00:31:22,080 That too only if you are selling that many phones. 494 00:31:22,320 --> 00:31:24,440 If you sell fewer phones, you will pay less. 495 00:31:24,600 --> 00:31:26,640 But if you take a loan of Rs. 2 crores, 496 00:31:26,960 --> 00:31:28,680 - you have to pay a fixed amount each month. - No! 497 00:31:28,760 --> 00:31:30,760 - Our loans... - There is a difference. 498 00:31:30,960 --> 00:31:33,440 You said we need to pay royalties until it reaches Rs. 4 crores. 499 00:31:33,520 --> 00:31:36,360 - If I take a loan... - When you add interest and the principal amount, 500 00:31:36,480 --> 00:31:38,360 it ends up being Rs. 4 crores. Please calculate. 501 00:31:39,360 --> 00:31:41,080 How are you here to give equity 502 00:31:41,080 --> 00:31:43,760 if you don't want your investors to make 2x? 503 00:31:45,280 --> 00:31:48,560 Right now, none of us will make a deal without royalty. 504 00:31:48,640 --> 00:31:50,920 And I think that is your cutoff. 505 00:31:51,000 --> 00:31:53,200 So, we don't have a deal today. 506 00:31:54,440 --> 00:31:56,720 Apologies, Sharks. We're not interested in offering royalties. 507 00:31:56,800 --> 00:31:58,280 We don't have a deal without royalty. 508 00:31:58,360 --> 00:32:00,200 So, thank you so much for coming to Shark Tank. 509 00:32:02,280 --> 00:32:04,280 Where is the issue? In doubling the money, 510 00:32:04,400 --> 00:32:05,520 or percentage? 511 00:32:05,680 --> 00:32:07,480 - What is the issue? - I think there's an issue with their mindset. 512 00:32:07,560 --> 00:32:09,760 - What is the problem? - This is a no-brainer for you. 513 00:32:10,160 --> 00:32:12,520 If I figure out what's wrong, I'll fix it. What is the problem? 514 00:32:12,600 --> 00:32:14,840 There are two things. 515 00:32:15,040 --> 00:32:17,360 - You don't want to pay Rs. 4 crores, right? - Yes. 516 00:32:17,440 --> 00:32:19,040 Also, the amount is... 517 00:32:19,160 --> 00:32:21,760 I will give you another option. Let's see what Anupam has to say. 518 00:32:22,200 --> 00:32:23,760 Instead of Rs. 4 crores, reduce the amount to Rs. 3 crores. 519 00:32:23,840 --> 00:32:25,640 Even if you pay Rs. 30 lakhs in interest, 520 00:32:25,720 --> 00:32:27,560 Rs. 1 crore is paid as interest in three years. 521 00:32:30,240 --> 00:32:32,280 - I am okay with Rs. 3 crores. - What about equity? 522 00:32:32,920 --> 00:32:34,800 - Okay! - If all three of us are in. 523 00:32:35,720 --> 00:32:37,080 Yeah! Maybe all three can join. 524 00:32:38,680 --> 00:32:40,880 Our offer is Rs. 2 crores 525 00:32:41,600 --> 00:32:43,880 for 1% royalty of your sales, 526 00:32:44,920 --> 00:32:47,640 plus 1% equity for all three. 527 00:32:48,040 --> 00:32:50,840 Amit, Vineeta, and I will be part of this deal. 528 00:33:09,440 --> 00:33:11,120 - Thank you! - Congratulations! 529 00:33:11,200 --> 00:33:12,280 Thank you, sir! 530 00:33:12,360 --> 00:33:13,520 [uplifting music playing] 531 00:33:15,200 --> 00:33:16,280 [camera clicks] 532 00:33:33,560 --> 00:33:35,200 [theme music playing] 533 00:33:53,480 --> 00:33:55,560 - Hello, Sharks! - Hello! - Hi! 534 00:33:55,640 --> 00:33:57,240 Why is it so bright here? 535 00:33:57,720 --> 00:33:59,600 Shall we dim the lights? 536 00:33:59,680 --> 00:34:00,960 Oh! 537 00:34:01,680 --> 00:34:03,320 And follow me. 538 00:34:03,600 --> 00:34:07,160 Place your hand on your heart, like this. 539 00:34:07,840 --> 00:34:09,960 Take a deep breath. 540 00:34:10,200 --> 00:34:12,160 And look towards the ceiling. 541 00:34:15,240 --> 00:34:18,480 Picture your lover's face on the ceiling. 542 00:34:18,680 --> 00:34:21,760 And that lover shouldn't be the one you married. 543 00:34:21,880 --> 00:34:23,120 [laughing] 544 00:34:24,560 --> 00:34:27,560 Say 'wow' three times after me. 545 00:34:28,520 --> 00:34:30,600 - Wow! - Wow! 546 00:34:31,080 --> 00:34:33,440 - Wow! - Wow! 547 00:34:33,840 --> 00:34:36,200 - Wow! - Wow! 548 00:34:36,280 --> 00:34:37,640 Close your eyes. 549 00:34:37,720 --> 00:34:40,720 Exhale and relax. 550 00:34:41,920 --> 00:34:42,920 Thank you 551 00:34:43,000 --> 00:34:44,480 for welcoming me 552 00:34:44,760 --> 00:34:45,640 with a 'wow!' 553 00:34:45,720 --> 00:34:48,800 - Are you here to pitch or tear our family apart? - Exactly! 554 00:34:51,520 --> 00:34:54,920 I have arrived to disrupt the world of Botox and fillers 555 00:34:55,040 --> 00:34:58,760 with my own natural skincare solutions. 556 00:34:59,680 --> 00:35:02,880 People refer to me as the Face Yoga Queen of India. 557 00:35:03,080 --> 00:35:07,120 Because my techniques will definitely get all of us seen. 558 00:35:13,200 --> 00:35:14,760 [theme music playing] 559 00:35:15,600 --> 00:35:18,120 Our skin solutions are natural, 560 00:35:41,320 --> 00:35:44,880 To help my holistic vision grow, 561 00:35:45,080 --> 00:35:46,720 my ask is 562 00:35:46,800 --> 00:35:49,760 Rs. 1.5 crores for 5% equity. 563 00:35:59,000 --> 00:36:00,600 [music fades] 564 00:36:00,600 --> 00:36:03,440 Vibhuti, welcome to Shark Tank Season 3. 565 00:36:03,560 --> 00:36:04,240 Thank you. 566 00:36:04,320 --> 00:36:05,800 Very confident pitch. 567 00:36:05,880 --> 00:36:08,360 It seems like you've been doing this for many years. 568 00:36:08,440 --> 00:36:11,160 Sir, I've been doing face yoga for ten years. 569 00:36:11,880 --> 00:36:14,560 - I did not always look the way I did. - Seriously? 570 00:36:14,680 --> 00:36:17,200 In 2014, I got to know 571 00:36:17,280 --> 00:36:19,560 that I have an autoimmune skin condition 572 00:36:28,960 --> 00:36:29,880 Is that you? 573 00:36:30,040 --> 00:36:31,640 - Yes, absolutely. - All four? 574 00:36:31,720 --> 00:36:32,720 Yes, that's right! 575 00:36:32,840 --> 00:36:33,800 - My God! - Really? 576 00:36:33,960 --> 00:36:35,640 You've also lost weight. 577 00:36:35,720 --> 00:36:39,680 I'm a Ministry of AYUSH-certified Yoga Teacher and Evaluator, sir. 578 00:36:39,840 --> 00:36:40,720 Oh, I see. 579 00:36:40,960 --> 00:36:42,520 I follow a lot of yoga. 580 00:36:42,640 --> 00:36:44,960 There are tons of face yoga videos online. 581 00:36:45,040 --> 00:36:47,600 Why do we need to take your classes? 582 00:36:47,680 --> 00:36:48,960 What different will you be teaching us? 583 00:36:49,040 --> 00:36:52,600 Namita, the videos you watch on Face Yoga online, 584 00:36:52,840 --> 00:36:55,240 90% of them are certified by me. 585 00:36:55,360 --> 00:36:57,480 I created an institute 586 00:37:09,400 --> 00:37:11,760 Is yoga your sole focus 587 00:37:11,840 --> 00:37:13,560 or also the serums and oils over there? 588 00:37:13,640 --> 00:37:15,240 To do face yoga, 589 00:37:15,320 --> 00:37:18,240 serums and oils are really necessary. 590 00:37:18,960 --> 00:37:21,760 If you do face yoga without oils, 591 00:37:21,880 --> 00:37:25,320 you might stretch or pull your skin. 592 00:37:25,600 --> 00:37:28,480 Other than that, we also do face yoga facials 593 00:37:28,560 --> 00:37:30,040 in my Delhi centre. 594 00:37:30,200 --> 00:37:31,600 Is that centre a salon? 595 00:37:31,680 --> 00:37:34,280 - No, sir. It's a wellness centre in New Delhi. - Oh, okay. 596 00:37:59,760 --> 00:38:01,440 The signature is one of my massages. 597 00:38:01,520 --> 00:38:03,680 I've named it... It's a copyright massage 598 00:38:03,840 --> 00:38:05,960 which I've named Vibhuti. 599 00:38:05,960 --> 00:38:07,320 Could you show us your products? 600 00:38:07,480 --> 00:38:08,840 [music playing] 601 00:38:10,640 --> 00:38:12,720 So, I'm going to offer you 602 00:38:13,000 --> 00:38:15,200 my double chin corrector. 603 00:38:15,280 --> 00:38:16,480 - The first product. - I don't have it. 604 00:38:16,560 --> 00:38:17,800 - I know! - Give it to them. 605 00:38:18,040 --> 00:38:18,920 He didn't. 606 00:38:19,000 --> 00:38:21,040 "I have the perfect jawline!" 607 00:38:22,360 --> 00:38:23,520 - Anupam, for you... - Yes. 608 00:38:23,600 --> 00:38:26,440 - My favourite hair perfume. - Oh! Hair... 609 00:38:27,160 --> 00:38:28,240 [music playing] 610 00:38:33,640 --> 00:38:36,760 The products have a sticker on them 611 00:38:36,840 --> 00:38:39,440 and even the ingredients are not mentioned. 612 00:38:40,520 --> 00:38:43,480 Do you follow the FDA registration process? 613 00:38:43,560 --> 00:38:46,560 We are FDA-certified and CE-certified. 614 00:39:02,240 --> 00:39:03,480 My feedback is 615 00:39:03,480 --> 00:39:06,240 that the packaging of your skin care products 616 00:39:06,800 --> 00:39:08,000 is extremely disappointing 617 00:39:08,080 --> 00:39:10,520 - compared to everything else around the brand. - I understand. 618 00:39:15,440 --> 00:39:18,040 This is my celebrity-favourite tool. 619 00:39:19,320 --> 00:39:21,600 If you twist the bottom, 620 00:39:21,680 --> 00:39:24,920 it will produce 6,000 microvibrations per minute. 621 00:39:25,160 --> 00:39:26,560 [massager whirring] 622 00:39:27,080 --> 00:39:28,400 You start by placing the massager 623 00:39:28,600 --> 00:39:31,840 on the first point right below the eye. 624 00:39:32,400 --> 00:39:35,280 Let the microvibrations get absorbed. 625 00:39:35,520 --> 00:39:38,440 The maximum puffiness point lies just below the eye. 626 00:39:38,520 --> 00:39:39,880 That's where you press down. 627 00:39:40,840 --> 00:39:43,080 Then, press down on your temples. 628 00:39:43,720 --> 00:39:45,200 Swipe in this manner. 629 00:39:45,800 --> 00:39:48,280 Lift, and then, drain. 630 00:39:48,640 --> 00:39:50,240 [light-hearted music playing] 631 00:39:53,200 --> 00:39:54,840 I did the technique a few times. 632 00:39:55,000 --> 00:39:58,920 It caused a tingling and a fresh sensation here. 633 00:39:59,000 --> 00:39:59,840 I can feel it. 634 00:40:00,000 --> 00:40:01,640 - Thank you. - So, it's definitely working. 635 00:40:02,640 --> 00:40:05,560 Is this your own company? Are there any other investors? 636 00:40:05,640 --> 00:40:07,360 It is 100% owned by me. 637 00:40:10,960 --> 00:40:11,880 [Sharks chuckle] 638 00:40:13,120 --> 00:40:15,840 Vibhuti, you have two revenue models. 639 00:40:15,920 --> 00:40:17,520 - Three. - One... Okay. 640 00:40:17,720 --> 00:40:19,320 One is Face Yoga 641 00:41:02,560 --> 00:41:04,080 While it is good in the long term, 642 00:41:04,200 --> 00:41:06,920 in the short term, you will lose even this business 643 00:41:07,000 --> 00:41:08,160 if you maintain focus on that. 644 00:41:08,280 --> 00:41:10,440 I knew you'd ask me this question. 645 00:41:10,520 --> 00:41:13,680 This was a strategic call for us last year. 646 00:41:13,800 --> 00:41:16,640 We had to decide whether to invest in marketing 647 00:41:16,720 --> 00:41:19,080 or our physical space. 648 00:41:19,160 --> 00:41:21,680 Because I am selling an experience 649 00:41:21,760 --> 00:41:24,240 and not just education about face yoga, 650 00:41:24,360 --> 00:41:27,160 we took that call internally. 651 00:41:28,080 --> 00:41:30,360 I am not in this for the short term. 652 00:41:30,440 --> 00:41:32,560 If I were, like every D2C brand, 653 00:41:32,640 --> 00:41:36,480 I'd have been spending on marketing and playing the volume game. 654 00:41:36,560 --> 00:41:38,240 I am here for the long term. 655 00:41:38,320 --> 00:41:41,080 I want to build a long-term sustainable business. 656 00:41:41,160 --> 00:41:44,920 A lot of energy goes into the wellness centres as well 657 00:41:45,080 --> 00:41:47,920 and that is why I am adding it and stitching it together. 658 00:41:58,720 --> 00:42:01,480 but products are your bread and butter. 659 00:42:01,560 --> 00:42:02,520 How are they different? 660 00:42:02,680 --> 00:42:04,760 I would say I am the biggest differentiator. 661 00:42:04,880 --> 00:42:08,080 No. A person can't be the differentiator. 662 00:42:09,840 --> 00:42:11,200 What is unique about your products? 663 00:42:11,360 --> 00:42:13,640 - The ingredients are. - What are they? 664 00:42:19,560 --> 00:42:22,200 Retinol causes photosensitivity in people 665 00:42:28,040 --> 00:42:31,760 So, my collagen creams, in order to make them affordable, 666 00:42:31,840 --> 00:42:35,880 we use organic revinage as well as bakuchiol oil. 667 00:42:36,040 --> 00:42:38,560 Are you the only one in India who uses revinage? 668 00:42:38,640 --> 00:42:39,760 I am the only one right now. 669 00:42:39,840 --> 00:42:40,920 - The only one! - Yes. 670 00:42:41,000 --> 00:42:43,280 What percent of your sales is that product? 671 00:42:51,480 --> 00:42:53,560 as an alternative to retinol, 672 00:42:53,640 --> 00:42:56,640 and you have the first mover advantage 673 00:42:56,840 --> 00:42:59,680 and you're the only one in India doing this, 674 00:42:59,840 --> 00:43:02,240 then why only Rs. 25 lakhs sales? 675 00:43:02,320 --> 00:43:03,880 It should've killed the market. 676 00:43:04,920 --> 00:43:07,640 This has sown a seed of doubt in my mind. 677 00:43:07,720 --> 00:43:09,960 Do you even have a differentiator or not? 678 00:43:10,040 --> 00:43:11,960 If you really did, 679 00:43:12,120 --> 00:43:14,360 your product would've had more than Rs. 25 lakhs sales. 680 00:43:14,600 --> 00:43:16,520 For that reason, I am out today. 681 00:43:16,800 --> 00:43:17,760 Thank you. 682 00:43:18,120 --> 00:43:19,400 I think we all want to understand. 683 00:43:19,480 --> 00:43:23,400 Tell us your organic sales versus paid sales, 684 00:43:23,520 --> 00:43:24,880 and your repeat rate. 685 00:43:24,960 --> 00:43:28,400 That will help us gauge whether your product is stellar. 686 00:43:35,920 --> 00:43:38,760 And our clients' stickiness 687 00:43:38,880 --> 00:43:41,720 or cohort is about 30% overall, 688 00:43:50,360 --> 00:43:52,440 - and 30% in a lifetime. Right? - Yes. 689 00:43:52,520 --> 00:43:55,320 - Okay. - So, skincare brands such as face washes 690 00:43:55,440 --> 00:43:57,280 have an M1 of 10-12%, 691 00:43:57,400 --> 00:43:58,760 which is month one's repeat customers. 692 00:43:58,880 --> 00:44:03,320 And 12... Lifetime should be over 60% 693 00:44:08,840 --> 00:44:10,760 people start using it on a regular basis. 694 00:44:10,840 --> 00:44:11,840 - I... - The numbers rise quickly. 695 00:44:11,920 --> 00:44:13,120 I didn't read the numbers. 696 00:44:13,200 --> 00:44:14,640 Had I known, I would have! 697 00:44:14,720 --> 00:44:16,680 What was last month's profit? 698 00:44:16,800 --> 00:44:18,920 Last month's sales were Rs. 40 lakhs. 699 00:44:25,920 --> 00:44:27,320 Tell us your unit economics. 700 00:44:27,400 --> 00:44:30,160 - We will know how good your numbers are. - Sure. 701 00:44:30,240 --> 00:44:32,320 My product cost is 30% 702 00:44:48,240 --> 00:44:51,360 From the logo and packaging to the ingredients. 703 00:44:51,480 --> 00:44:53,960 Please work on that and you shall be more investable. 704 00:44:54,040 --> 00:44:55,320 Best of luck, I'm out. 705 00:45:01,560 --> 00:45:02,760 For now, I am out 706 00:45:02,840 --> 00:45:06,360 because I feel that your businesses.. 707 00:45:06,640 --> 00:45:08,760 You're taking it in two directions. 708 00:45:09,280 --> 00:45:14,040 If it becomes a pure play D2C within a year or two... 709 00:45:14,680 --> 00:45:17,320 I'm not really interested in the services business. 710 00:45:17,400 --> 00:45:21,560 When this heads in the direction of D2C and picks up scale, 711 00:45:21,800 --> 00:45:23,960 then probably you should come back in Season 4. 712 00:45:24,080 --> 00:45:25,920 For now, unfortunately, I'm out. 713 00:45:27,200 --> 00:45:28,400 You were very confident. 714 00:45:28,520 --> 00:45:31,120 You handled everyone's questions well. 715 00:45:31,360 --> 00:45:34,960 I wasn't convinced how the product was ten times better. 716 00:45:35,120 --> 00:45:37,720 I want to invest in companies where I feel 717 00:45:37,920 --> 00:45:40,200 they're not just a marketing company but have a solid product. 718 00:45:40,360 --> 00:45:42,080 That's where I probably missed the link. 719 00:45:42,160 --> 00:45:43,760 So, I am out. All the best. 720 00:45:43,840 --> 00:45:44,840 Thank you. 721 00:45:45,280 --> 00:45:47,240 I don't think you can grow this business 722 00:45:47,440 --> 00:45:50,560 by focusing on services and franchising. 723 00:45:50,800 --> 00:45:53,160 You need to bring the focus back on the product. 724 00:45:53,320 --> 00:45:54,520 I'm out for that reason. 725 00:45:54,640 --> 00:45:55,560 Thank you so much. 726 00:46:04,680 --> 00:46:06,480 Joining us on Ask The Shark today 727 00:46:13,760 --> 00:46:15,240 - Welcome, sir. - Thank you, Rahul. 728 00:46:15,400 --> 00:46:16,920 Sir, looking dashing as always. 729 00:46:17,000 --> 00:46:18,800 Thank you so much and you're looking dashing too. 730 00:46:18,920 --> 00:46:20,080 As always, sir. 731 00:46:20,240 --> 00:46:22,920 Today's question is by Ravinder Singh from Bhopal. 732 00:46:38,720 --> 00:46:41,520 Suppose people try your product and they like it, 733 00:46:41,680 --> 00:46:44,080 they become repeats without you having spent on marketing. 734 00:46:44,160 --> 00:46:46,360 Then you have to do brand investing first. 735 00:46:46,440 --> 00:46:47,960 So, a burn can be of different types. 736 00:46:48,040 --> 00:46:50,240 - If you see, I always ask for the unit economics. - Yes. 737 00:46:50,320 --> 00:46:52,040 It is to gauge where the burn is 738 00:46:52,200 --> 00:46:53,760 and whether the business is sustainable or not. 739 00:46:53,880 --> 00:46:55,640 If the market is big and the product is good, 740 00:46:55,800 --> 00:46:57,320 then the business will make its mark.