1 00:00:15,320 --> 00:00:18,040 [music playing] 2 00:00:28,320 --> 00:00:30,400 [music fades] 3 00:00:32,400 --> 00:00:34,840 [theme music playing] 4 00:00:55,280 --> 00:00:57,760 Hi, Sharks. 18 years ago, 5 00:00:57,880 --> 00:00:59,880 I approached my mother 6 00:00:59,960 --> 00:01:01,280 when I needed a bra. 7 00:01:01,360 --> 00:01:03,200 She took me to a local shop, 8 00:01:03,280 --> 00:01:05,880 where I tried on the bra 9 00:01:05,960 --> 00:01:07,640 recommended by the shopkeeper. 10 00:01:07,720 --> 00:01:10,280 It poked me and I felt uncomfortable. 11 00:01:10,400 --> 00:01:12,120 There was a problem with the fitting as well. 12 00:01:12,200 --> 00:01:14,240 When I asked my mom for more options, 13 00:01:14,360 --> 00:01:16,960 she said this is what it is, we have to make do, just wear it. 14 00:01:17,040 --> 00:01:18,560 That's when it hit me 15 00:01:18,640 --> 00:01:20,640 that I wanted to pursue something in the lingerie industry. 16 00:01:20,720 --> 00:01:23,560 And that's where our brand, Erotissch, comes into play. 17 00:01:23,640 --> 00:01:25,800 [light-hearted music playing] 18 00:01:35,880 --> 00:01:37,880 Being plus size doesn't mean 19 00:01:38,000 --> 00:01:39,680 that I don't enjoy wearing swimwear. 20 00:01:40,880 --> 00:01:42,800 In reality, every woman desires 21 00:01:42,880 --> 00:01:44,560 to wear an attractive swimsuit, 22 00:01:44,640 --> 00:01:47,960 whether they admit it or not. Don't you agree, Vineeta? 23 00:01:48,080 --> 00:01:49,280 Absolutely! 24 00:01:49,360 --> 00:01:50,400 Think about it. 25 00:01:50,480 --> 00:01:53,320 Sometimes, finding swimwear can often be a challenging task. 26 00:01:53,440 --> 00:01:55,200 Especially for people like me. 27 00:01:55,280 --> 00:01:57,640 That is when, with Aayuushi's expertise 28 00:01:57,720 --> 00:01:59,720 we created a line of swimwear 29 00:02:08,160 --> 00:02:09,960 Similarly, we have nightwear for lingerie. 30 00:02:15,760 --> 00:02:17,560 are intimate items for a woman. 31 00:02:17,640 --> 00:02:19,520 Through Erotissch, our vision 32 00:02:19,600 --> 00:02:22,000 is to empower and liberate women 33 00:02:22,080 --> 00:02:24,280 and celebrate the strength of every woman, 34 00:02:24,360 --> 00:02:25,800 regardless of her background. 35 00:02:26,760 --> 00:02:29,360 Until now, through Erotissch, 36 00:02:43,640 --> 00:02:45,920 that every woman deserves 37 00:02:46,000 --> 00:02:48,440 to feel attractive and confident. 38 00:02:48,520 --> 00:02:49,520 - Thank you! - Thank you so much! 39 00:02:49,600 --> 00:02:51,640 - You said you are from Agra, right? - Yes. 40 00:02:51,720 --> 00:02:52,960 Share your story with us. 41 00:02:53,080 --> 00:02:55,320 How did it start? How do you know each other? 42 00:02:55,440 --> 00:02:56,400 What profession were you in? 43 00:02:56,480 --> 00:02:58,280 - We are sisters. - Oh! 44 00:02:58,360 --> 00:03:00,040 She is 2.5 years younger than me. 45 00:03:00,360 --> 00:03:02,520 After completing NIFT, 46 00:03:07,320 --> 00:03:10,080 After that, we started planning for Erotissch. 47 00:03:10,160 --> 00:03:12,640 Did you always know you wanted to become an entrepreneur? 48 00:03:12,760 --> 00:03:14,920 To be honest, when I was in 10th grade, I knew that 49 00:03:15,040 --> 00:03:17,480 - I wanted to do something in lingerie designing. - Wow! 50 00:03:17,560 --> 00:03:19,560 There were no courses on lingerie in India. 51 00:03:19,640 --> 00:03:21,240 So, I went for a technical course. 52 00:03:21,360 --> 00:03:24,040 It was a knitwear designing course. It's a fabric 53 00:03:24,120 --> 00:03:25,520 - used to make lingerie. - Got it. 54 00:03:25,600 --> 00:03:29,520 Then I did a certification course in lingerie in London. 55 00:03:29,640 --> 00:03:31,800 And then we started our company. 56 00:03:31,880 --> 00:03:35,200 In 2019, we launched Erotissch through AJIO. 57 00:03:43,880 --> 00:03:47,160 Our management worked there. There were a few tailors. 58 00:03:47,240 --> 00:03:49,360 And we created our production from that unit 59 00:03:49,440 --> 00:03:51,240 to launch it on AJIO. 60 00:04:04,880 --> 00:04:06,800 You have already accomplished half of the task. 61 00:04:06,920 --> 00:04:09,160 - We had to strive hard for it. - Okay! 62 00:04:09,520 --> 00:04:13,080 It was challenging to describe the category to him. 63 00:04:13,160 --> 00:04:15,320 Okay! Dad took time to understand the business. 64 00:04:15,400 --> 00:04:17,320 He gained an understanding of our business, 65 00:04:17,440 --> 00:04:20,000 but it is a big deal to break society's taboo. 66 00:04:20,120 --> 00:04:21,280 I agree. 67 00:04:22,200 --> 00:04:23,520 Did you apply henna? 68 00:04:23,600 --> 00:04:24,920 I am getting married in 10 days. 69 00:04:25,000 --> 00:04:26,560 - Oh my God! - What? 70 00:04:27,280 --> 00:04:29,040 The events started on the 24th. 71 00:04:29,120 --> 00:04:32,040 - And you are here. - We postponed our events to be here today. 72 00:04:32,160 --> 00:04:33,840 - The veneration was yesterday. - And you are on Shark Tank! 73 00:04:33,960 --> 00:04:35,120 - Amazing! - Sir, priority! 74 00:04:35,360 --> 00:04:38,240 - Priority? - I won't get this chance. I can get married. 75 00:04:38,320 --> 00:04:40,560 You are saying this on TV. Your husband is listening. 76 00:04:40,680 --> 00:04:43,320 My husband is very happy. He is marrying a celebrity. 77 00:04:43,400 --> 00:04:45,200 - Wow! - How nice. 78 00:04:45,320 --> 00:04:48,040 - Good luck! Congratulations. - Thank you! 79 00:04:48,120 --> 00:04:51,040 What was the reason behind choosing the name Erotissch for your brand? 80 00:04:51,200 --> 00:04:54,720 The name Erotissch can't be found in any dictionary. 81 00:04:54,840 --> 00:04:56,240 We made it up. 82 00:04:56,800 --> 00:04:59,320 It is split into two directions, which is stylised erotica. 83 00:04:59,440 --> 00:05:02,720 It is about celebrating women for who they are. 84 00:05:02,840 --> 00:05:04,520 But isn't this causing a problem? 85 00:05:04,600 --> 00:05:05,680 It is bothering me. 86 00:05:05,800 --> 00:05:09,360 The name Erotissch veers off in a different direction. 87 00:05:09,440 --> 00:05:12,240 Because erotica is meant to... You know eroticism. 88 00:05:12,320 --> 00:05:15,400 For years, people have been associating lingerie with eroticism. 89 00:05:15,520 --> 00:05:18,240 So, you can't talk about it because it's taboo, right? 90 00:05:27,040 --> 00:05:30,200 The meaning of lingerie in India is often misconstrued 91 00:05:30,200 --> 00:05:31,840 and is meant to be worn to impress others. 92 00:05:31,920 --> 00:05:32,760 That's... 93 00:05:32,840 --> 00:05:35,720 - That's exactly my... - You wear lingerie for yourself. 94 00:05:35,720 --> 00:05:36,800 That is the change. 95 00:05:36,880 --> 00:05:39,120 You are fearless because you are Erotissch. 96 00:05:39,240 --> 00:05:42,720 Aayuushi! Anushka! That is exactly the point we are making. 97 00:05:42,920 --> 00:05:44,360 If that is the case, 98 00:05:44,480 --> 00:05:46,080 and you are wearing it for yourself, 99 00:05:46,160 --> 00:05:49,120 - then it shouldn't be called Erotissch. Let's move on. - Okay. 100 00:05:49,240 --> 00:05:51,800 Also, when you go to advertise your product 101 00:05:51,880 --> 00:05:54,120 on social media platforms, 102 00:05:54,200 --> 00:05:55,920 a term like Erotissch 103 00:05:56,040 --> 00:05:59,040 creates difficulties within their algorithm. 104 00:05:59,120 --> 00:06:01,760 This might cause a practical problem for you. 105 00:06:02,640 --> 00:06:04,520 What is your proposition? 106 00:06:31,000 --> 00:06:32,840 must have a personal drive to run a business. 107 00:06:32,920 --> 00:06:35,440 Indian women, in particular, have curvaceous bodies, 108 00:06:35,600 --> 00:06:37,840 which can make it challenging 109 00:06:37,960 --> 00:06:40,480 to provide proper support and create attractive designs 110 00:06:40,560 --> 00:06:43,120 that don't cover their bodies. And we want to tackle that. 111 00:06:43,680 --> 00:06:44,840 Sometimes, 112 00:06:44,920 --> 00:06:47,640 we do something because we are passionate about it. 113 00:06:47,720 --> 00:06:50,120 But how others perceive it in the market 114 00:06:50,240 --> 00:06:51,720 can be confusing. 115 00:06:51,920 --> 00:06:54,320 People start saying, "This is for plus size." 116 00:07:00,600 --> 00:07:02,320 What's the scale of your business right now? 117 00:07:21,440 --> 00:07:22,520 Definitely. 118 00:07:22,600 --> 00:07:23,840 What is your USP? 119 00:07:23,960 --> 00:07:25,960 In all the products you see, 120 00:07:26,040 --> 00:07:27,720 it's our design theory, 121 00:07:27,800 --> 00:07:29,720 the prints and the stylising. 122 00:07:29,800 --> 00:07:33,080 We want everybody to get in touch with their fun side. 123 00:07:33,200 --> 00:07:35,520 As far as I understand, your main USP is your design. 124 00:07:35,600 --> 00:07:36,680 Designs, yes. 125 00:07:36,760 --> 00:07:38,640 Could we see some more designs? 126 00:07:39,400 --> 00:07:40,680 So, this is the website. 127 00:07:47,440 --> 00:07:49,360 It is elegant and nice. 128 00:07:50,240 --> 00:07:53,120 As I said, we have a brand vision and brand identity. 129 00:07:53,200 --> 00:07:56,160 Plus, we have quirky prints, colours and designs. 130 00:07:56,320 --> 00:07:58,280 We've combined it all and made these. 131 00:07:58,360 --> 00:08:00,840 Our major share comes from marketplaces. 132 00:08:00,920 --> 00:08:02,320 It is a very niche category. 133 00:08:02,320 --> 00:08:05,480 Bringing any customer in D2C was a tough task for us. 134 00:08:05,560 --> 00:08:09,360 In the start, we went where our customers were. 135 00:08:09,480 --> 00:08:12,680 It is mostly plain colours that customers buy, right? 136 00:08:12,760 --> 00:08:14,360 - Simple? - Surprisingly, no. 137 00:08:15,280 --> 00:08:18,840 Until now, we were majorly playing in prints. 138 00:08:18,960 --> 00:08:20,760 We have launched this collection for the first time. 139 00:08:20,840 --> 00:08:22,840 - The solids. - This one? Got it. 140 00:08:22,960 --> 00:08:24,880 Your solids are quite fashionable. 141 00:08:25,000 --> 00:08:26,720 - I feel that you know in prints... - But... 142 00:08:26,840 --> 00:08:29,480 Do you see the pink colour that the mannequin is wearing 143 00:08:29,480 --> 00:08:30,880 and that royal blue? 144 00:08:31,240 --> 00:08:34,080 Such colours really stand out. 145 00:08:51,360 --> 00:08:53,040 That's precisely what I said. 146 00:08:53,160 --> 00:08:55,960 When you said you sell on Amazon, I told you 147 00:08:56,080 --> 00:08:58,400 solids must have higher sales but you said no. 148 00:08:59,320 --> 00:09:02,680 The problem is that you can't identify your USP. 149 00:09:08,200 --> 00:09:09,440 - It's still there in India. - Yes. 150 00:09:09,520 --> 00:09:11,440 - I believe Reliance bought it. - Ambanis. 151 00:09:11,520 --> 00:09:13,000 They were also doing the same thing. 152 00:09:13,120 --> 00:09:15,600 So, I don't quite understand what your USP is. 153 00:09:15,800 --> 00:09:17,840 It's quite a crowded market. 154 00:09:18,200 --> 00:09:19,760 Scroll down and show us more designs. 155 00:09:19,880 --> 00:09:21,040 [music playing] 156 00:09:23,880 --> 00:09:26,760 Overall, I think the design language is okay. It's good. 157 00:09:27,480 --> 00:09:29,720 - Yes. - There's a company called Vacheron, right? 158 00:09:29,800 --> 00:09:32,040 They sell such prints. Very expensive. 159 00:09:32,120 --> 00:09:33,080 Shivan Narresh. 160 00:09:33,200 --> 00:09:35,080 - Shivan & Narresh. - Shivan & Narresh. Exactly. 161 00:09:35,200 --> 00:09:37,400 When we talk about our market share, 162 00:09:37,480 --> 00:09:39,880 either there are mass brands like Clovia and Zivame, 163 00:09:46,920 --> 00:09:50,720 My sense says that such prints are typically very expensive. 164 00:09:50,800 --> 00:09:52,800 If yours is affordable and fashionable, 165 00:09:52,880 --> 00:09:54,400 it's a good USP. 166 00:09:54,480 --> 00:09:55,480 Tell us the price of this. 167 00:10:04,760 --> 00:10:07,240 in the first month, we do not give any discounts. 168 00:10:15,800 --> 00:10:17,800 The majority of our sales comes from Myntra 169 00:10:24,080 --> 00:10:27,320 We go by average order value and not average order price. 170 00:10:57,360 --> 00:10:59,880 The average order value is Rs. 1,074. 171 00:10:59,960 --> 00:11:00,840 That's it! 172 00:11:07,080 --> 00:11:08,400 How much does one bra cost? 173 00:11:08,480 --> 00:11:10,280 Rs. 650 to 750 after discount. 174 00:11:16,720 --> 00:11:18,520 In marketplaces, it would be two. 175 00:11:25,040 --> 00:11:27,360 Do your sales come from the website or marketplaces? 176 00:11:27,440 --> 00:11:29,440 The majority of our sales come from marketplaces. 177 00:11:29,520 --> 00:11:31,240 What's your sale in percentage? 178 00:11:43,640 --> 00:11:45,640 What are Myntra's annual sales? 179 00:11:45,720 --> 00:11:46,880 You mean, overall categories? 180 00:11:46,960 --> 00:11:48,560 Beachwear, swimwear and lingerie. 181 00:11:48,560 --> 00:11:52,760 I guess lingerie is around 8 to 9% of their overall sales. 182 00:11:52,840 --> 00:11:56,840 - You said 63% is from Myntra. - Yes. 183 00:11:56,920 --> 00:12:00,880 All right, let's say you'll do about Rs. 3 crores from Myntra. 184 00:12:01,000 --> 00:12:03,840 What is the market share of that out of Myntra's total sales? 185 00:12:04,800 --> 00:12:06,200 Myntra... I'm sorry, I... 186 00:12:06,280 --> 00:12:08,520 - They don't know Myntra's total sales. - Yes. 187 00:12:08,600 --> 00:12:10,320 I'm guessing based on 7 to 8%, 188 00:12:10,440 --> 00:12:13,280 it must be around Rs. 700 crores a year. 189 00:12:13,400 --> 00:12:16,520 So, it must be around Rs. 60 to 70 crores a month. 190 00:12:16,640 --> 00:12:20,680 So, your market share on Myntra in your category is quite small. 191 00:12:20,800 --> 00:12:22,320 It might be 1% at the most. 192 00:12:23,640 --> 00:12:25,800 Tell me something related to that. 193 00:12:25,880 --> 00:12:29,360 What is the lingerie market size in India? 194 00:12:29,440 --> 00:12:32,880 Globally, the market size is over Rs. 70,000 crores. 195 00:12:32,960 --> 00:12:34,080 It is way bigger. 196 00:12:35,560 --> 00:12:37,400 I think the Indian market is Rs. 70,000 crores. 197 00:12:39,360 --> 00:12:41,600 - Do you know the size of the organised market? - Sorry. 198 00:12:41,840 --> 00:12:42,680 You don't know. 199 00:12:43,520 --> 00:12:45,920 Any idea about the online market size? 200 00:12:47,600 --> 00:12:49,680 I don't have those statistics, sir. 201 00:12:50,440 --> 00:12:52,760 Of your total business, what percentage is beachwear? 202 00:12:59,160 --> 00:13:01,360 You were teeming with energy. 203 00:13:01,480 --> 00:13:04,040 Now, it has gone down. Why is that so? 204 00:13:04,120 --> 00:13:05,240 We are learning a lot. 205 00:13:05,320 --> 00:13:08,040 - Actually! - You two must have seen season 1 and season 2 also. 206 00:13:08,240 --> 00:13:09,800 You must have learnt something 207 00:13:09,920 --> 00:13:11,760 related to our questions and discussions. 208 00:13:11,840 --> 00:13:15,360 You postponed your wedding date and came here especially, 209 00:13:15,480 --> 00:13:19,280 - only to learn. - Definitely. 210 00:13:20,760 --> 00:13:22,480 - Can I be honest? - Yes. 211 00:13:22,560 --> 00:13:24,160 - We feel intimidated in front of you all. - Yes. 212 00:13:24,280 --> 00:13:25,600 - To stand in front of you and... - I was about to say that. 213 00:13:25,600 --> 00:13:26,680 - Exactly, yes. - And 214 00:13:26,840 --> 00:13:28,200 - answer these questions. - It seems so. 215 00:13:28,320 --> 00:13:30,320 I'm not able to articulate my answers. 216 00:13:30,400 --> 00:13:31,840 Please be relaxed. 217 00:13:31,960 --> 00:13:34,320 You appear to be intimidated. 218 00:13:34,440 --> 00:13:37,080 The energy you had in the beginning has slumped. 219 00:13:37,160 --> 00:13:38,440 Right. 220 00:13:39,000 --> 00:13:41,880 Do you know what you are thinking? "I just want..." 221 00:13:41,960 --> 00:13:43,440 - "Let's escape." - "Let me scoot off." 222 00:13:43,520 --> 00:13:44,640 - "Let's run away." - Please don't give up. 223 00:13:44,720 --> 00:13:47,360 - No, definitely... - An entrepreneur should never give up. 224 00:13:47,440 --> 00:13:48,760 Please don't. 225 00:13:48,760 --> 00:13:51,120 It's rightly called Shark Tank 226 00:13:51,200 --> 00:13:54,160 - because when you ask questions... - Right. 227 00:13:54,240 --> 00:13:56,280 - We feel nervous. - It gets on our nerves at times. 228 00:13:56,360 --> 00:13:58,560 - And thank you for... - Thank you for that. 229 00:13:59,720 --> 00:14:00,760 Are you profitable right now? 230 00:14:00,840 --> 00:14:03,840 Our profit is minimal as it's just 1%. 231 00:14:12,960 --> 00:14:16,080 If our product costs Rs. 1,350, 232 00:14:47,080 --> 00:14:48,800 and you are left with 23%. 233 00:14:48,880 --> 00:14:52,200 - Now you need scale to make it profitable. - Yes! 234 00:14:52,440 --> 00:14:54,440 Why are you here for investment? 235 00:14:54,560 --> 00:14:56,600 And where do you see your brand 236 00:14:56,680 --> 00:14:58,480 in the next, let's say, three years? 237 00:14:58,560 --> 00:15:01,400 Anupam, before answering your question, I want to say something. 238 00:15:01,480 --> 00:15:03,200 We discovered on Myntra 239 00:15:03,320 --> 00:15:07,200 that the beachwear category is an unorganised sector. 240 00:15:07,480 --> 00:15:10,760 It has growth potential because there's demand. 241 00:15:10,840 --> 00:15:14,360 Our sale is majorly beachwear under the swimwear category. 242 00:15:14,680 --> 00:15:16,640 You said there's growth potential 243 00:15:25,000 --> 00:15:28,360 As Aayuushi mentioned, it's an unorganised category. 244 00:15:28,440 --> 00:15:30,160 If we check Myntra, 245 00:15:30,240 --> 00:15:33,480 we don't see a separate beachwear category. 246 00:15:33,720 --> 00:15:35,680 It doesn't show in the menu. 247 00:15:36,240 --> 00:15:39,080 This entire section falls under swimwear. 248 00:15:39,160 --> 00:15:41,120 For example, if a customer 249 00:15:41,240 --> 00:15:43,120 wants to buy something to wear on top of swimwear, 250 00:15:43,240 --> 00:15:47,080 they'll search for a western dress and then proceed to buy it. 251 00:15:47,200 --> 00:15:50,000 It's because of the unorganised nature. 252 00:15:50,080 --> 00:15:52,520 If we do proper categorisation 253 00:15:52,600 --> 00:15:54,240 and create awareness, 254 00:15:54,320 --> 00:15:56,120 this product will be in demand. 255 00:15:56,240 --> 00:15:59,520 There's no concept of sunbathing on a beach in India. 256 00:15:59,640 --> 00:16:02,080 So beachwear can't be a big market in India. 257 00:16:02,160 --> 00:16:05,000 - We don't use beachwear for sunbathing. - That's right. 258 00:16:06,400 --> 00:16:08,320 If we are on a tropical vacation 259 00:16:08,440 --> 00:16:10,280 - and staying in a shack or just strolling... - Right. 260 00:16:10,360 --> 00:16:11,400 You wouldn't wear Western wear. 261 00:16:11,480 --> 00:16:12,480 You wouldn't wear jeans. 262 00:16:12,560 --> 00:16:13,720 You'll wear these types of garments. 263 00:16:13,840 --> 00:16:15,360 That's right. Beachwear doesn't include a bikini. 264 00:16:15,440 --> 00:16:17,760 Bikinis are worn for tanning. 265 00:16:17,840 --> 00:16:19,880 - Beachwear is worn to look cool. - It's not a rage in India though. 266 00:16:19,960 --> 00:16:21,840 If you go to the Maldives, 267 00:16:21,920 --> 00:16:24,480 50% population is Indian and all of them wear beachwear. 268 00:16:25,640 --> 00:16:27,760 I laud your passion 269 00:16:27,840 --> 00:16:30,680 and I think you should continue working in this category. 270 00:16:30,760 --> 00:16:33,960 However, I find your numbers and your overall strategy weak. 271 00:16:34,840 --> 00:16:37,240 You are working in three deep categories. 272 00:16:37,360 --> 00:16:39,280 You must focus on a particular category 273 00:16:39,400 --> 00:16:41,960 and expand it for a short while at least. You must make a choice. 274 00:16:42,120 --> 00:16:44,760 Then work on differentiation. 275 00:16:44,960 --> 00:16:48,280 Secondly, you have an unprofitable business 276 00:16:48,360 --> 00:16:50,760 because you are selling only in marketplaces. 277 00:16:50,880 --> 00:16:51,840 Something is wrong. 278 00:16:51,920 --> 00:16:54,720 You should renegotiate with the marketplaces. 279 00:16:54,800 --> 00:16:56,760 Instead of paying them 40%, 280 00:16:56,840 --> 00:16:58,800 you could pay 30% and save 10% for yourself. 281 00:16:58,880 --> 00:17:01,560 You are slogging but the marketplace is gaining. 282 00:17:03,000 --> 00:17:05,000 I'm out today because you are at an early stage. 283 00:17:05,080 --> 00:17:06,840 Um, maybe we'll meet again. 284 00:17:07,480 --> 00:17:09,840 I think in terms of positioning and strategy, 285 00:17:09,920 --> 00:17:11,680 I don't understand your business well. 286 00:17:11,760 --> 00:17:13,640 Nor do I understand 287 00:17:13,760 --> 00:17:18,040 your brand name and your goal properly. 288 00:17:18,600 --> 00:17:21,440 Well done on building a good business but today, I'll be out. 289 00:17:23,000 --> 00:17:24,080 One piece of advice. 290 00:17:24,160 --> 00:17:26,840 Every business need not get VC funding. 291 00:17:26,960 --> 00:17:29,160 If you want to build a small profitable business, 292 00:17:29,240 --> 00:17:32,480 focus on swimwear and beachwear. 293 00:17:44,320 --> 00:17:45,960 - Good luck! - You received good advice from Anupam. 294 00:17:46,080 --> 00:17:47,280 - Thank you for the feedback. - Thank you so much. 295 00:17:48,880 --> 00:17:51,160 I want to be out 296 00:17:51,520 --> 00:17:53,920 because yours isn't a business with significant growth. 297 00:17:54,000 --> 00:17:55,880 It could be a good business personally 298 00:17:55,960 --> 00:17:57,280 but it isn't an investible business. 299 00:17:57,400 --> 00:17:59,880 I can't see your profit of Rs. 4 crores grow 300 00:17:59,960 --> 00:18:03,640 to Rs. 400 crores imminently. So I want to be out. 301 00:18:05,360 --> 00:18:10,640 I think the online market for lingerie is too small even today. 302 00:18:10,760 --> 00:18:13,360 It's less than 10%. The offline market is huge 303 00:18:13,680 --> 00:18:15,800 but you can't run an offline business 304 00:18:16,880 --> 00:18:20,040 because your pricing is confusing. 305 00:18:20,120 --> 00:18:24,200 If you sell perpetually at a 35%-40% discount, 306 00:18:24,280 --> 00:18:26,960 retailers won't partner with you offline. 307 00:18:27,040 --> 00:18:30,760 Because they won't understand your exact pricing. 308 00:18:30,880 --> 00:18:33,680 Plus you have multiple price bands. 309 00:18:33,760 --> 00:18:36,400 Will you open a store in a mall or a separate store? 310 00:18:36,480 --> 00:18:41,480 I find your pricing, brand strategy, and name 311 00:18:41,560 --> 00:18:43,000 very confusing. 312 00:18:43,120 --> 00:18:45,880 So I can't help you as of now. 313 00:18:46,000 --> 00:18:47,080 Best of luck. 314 00:18:47,160 --> 00:18:48,680 - Thank you. - Thank you so much, Sharks. 315 00:18:48,800 --> 00:18:52,640 Even I think that your category is interesting and it could grow. 316 00:18:52,720 --> 00:18:55,800 There have been acquisitions in the D2C sector. 317 00:18:55,880 --> 00:18:57,480 The acquisitions done by Reliance 318 00:18:57,560 --> 00:18:59,480 in this category are huge. 319 00:18:59,560 --> 00:19:01,240 Today, I didn't understand your business. 320 00:19:02,880 --> 00:19:05,720 Maybe you two couldn't present yourselves properly. 321 00:19:05,800 --> 00:19:08,400 For this reason, I can't make a favourable decision. 322 00:19:08,480 --> 00:19:10,000 So, unfortunately, I'm out. 323 00:19:11,360 --> 00:19:14,920 Aayuushi and Anushka, you both received some great advice. 324 00:19:15,000 --> 00:19:17,680 Continue working and we'll see you again. 325 00:19:17,760 --> 00:19:18,880 - Best of luck. - Thank you, Sharks! 326 00:19:19,000 --> 00:19:20,000 - Thank you! - Thank you! 327 00:19:21,240 --> 00:19:23,760 [dramatic music playing] 328 00:20:54,960 --> 00:20:57,840 [theme music playing] 329 00:21:05,160 --> 00:21:07,800 [ethereal music playing] 330 00:21:15,920 --> 00:21:20,120 Sharks, we see innovations in India when we are in need 331 00:21:20,200 --> 00:21:22,720 but otherwise, people say, 332 00:21:22,800 --> 00:21:25,480 "Let it be." 333 00:21:25,560 --> 00:21:28,000 It's the same case with candies. 334 00:21:28,080 --> 00:21:29,800 Last year, India consumed 335 00:21:38,800 --> 00:21:40,440 However, big companies say, 336 00:21:40,560 --> 00:21:44,000 "How does it matter? It's the norm." 337 00:21:44,080 --> 00:21:47,160 Just rethink the figure we mentioned earlier. 338 00:21:47,240 --> 00:21:51,480 Candies and chocolates containing 31 crore kilos of sugar... 339 00:21:51,560 --> 00:21:54,480 It'll result in diabetes and it'll be free! Free! Free! 340 00:21:55,360 --> 00:21:58,520 But making candies without sugar is impossible. 341 00:21:58,600 --> 00:22:02,040 Guess what? We made it possible with Niblerzz. 342 00:22:09,720 --> 00:22:13,520 We spoke to experts and cracked a recipe. 343 00:22:13,760 --> 00:22:15,600 We made a recipe 344 00:22:15,680 --> 00:22:18,280 which doesn't have artificial flavour or colour. 345 00:22:49,800 --> 00:22:52,080 smile, say cheese, 346 00:22:52,160 --> 00:22:55,640 and say openly, "one more candy, please!" 347 00:22:55,720 --> 00:22:56,880 On that note, Sharks, 348 00:23:06,040 --> 00:23:09,040 Why don't you want Vineeta as a Shark? 349 00:23:09,120 --> 00:23:11,200 We don't want processed sugar. 350 00:23:11,280 --> 00:23:12,600 We want Vineeta, of course! 351 00:23:12,720 --> 00:23:14,240 - So you want Vineeta. - Of course! 352 00:23:14,320 --> 00:23:15,120 Please take her with you. 353 00:23:15,240 --> 00:23:16,680 [laughing] 354 00:23:17,080 --> 00:23:19,920 Your tagline, "bye-bye, sugar" is offensive, but 355 00:23:20,200 --> 00:23:21,840 I'll try not to take it personally. 356 00:23:22,560 --> 00:23:24,640 Tell us your story. How do you guys know each other? 357 00:23:24,760 --> 00:23:27,000 We both worked in advertising. 358 00:23:27,120 --> 00:23:29,760 - Sandhya was my boss and I was her junior. - Wow! 359 00:23:29,920 --> 00:23:31,400 - Sandhya... - Who's the boss now? 360 00:23:31,480 --> 00:23:32,880 - We're equals. - Equals. 361 00:23:32,960 --> 00:23:33,840 Okay. 362 00:23:33,920 --> 00:23:36,520 Sandhya has an experience of over a decade 363 00:23:36,600 --> 00:23:39,880 working with Marico, Garnier and other big brands. 364 00:23:39,880 --> 00:23:43,040 - As what? - Account Management in Advertising. 365 00:23:43,880 --> 00:23:45,960 I got the opportunity to work with Sandhya 366 00:23:46,040 --> 00:23:48,760 on Unilever brands such as Lipton Green Tea 367 00:23:48,840 --> 00:23:51,560 and Kwality Wall's ice cream. 368 00:23:51,640 --> 00:23:53,360 So, that's how we met. 369 00:23:53,440 --> 00:23:57,200 After the lockdown ended, she was figuring out what to do. 370 00:23:57,280 --> 00:23:59,400 During our conversation, we realised 371 00:23:59,520 --> 00:24:01,920 that the candy we get in India 372 00:24:02,000 --> 00:24:05,160 contains a lot of sugar. 373 00:24:05,240 --> 00:24:09,120 Also, other problems came along with it 374 00:24:09,200 --> 00:24:11,120 like artificial flavours and colours. 375 00:24:11,200 --> 00:24:14,680 Kids these days get a lot of allergies. 376 00:24:14,760 --> 00:24:17,120 There was no better for you candy. 377 00:24:17,280 --> 00:24:20,000 There was no supply for the demand. 378 00:24:20,080 --> 00:24:21,680 No one was making those products. 379 00:24:21,760 --> 00:24:23,600 We saw a clear white space there. 380 00:24:23,680 --> 00:24:25,440 Is the market of candy in India that big? 381 00:24:36,760 --> 00:24:38,080 Azhar, buddy! 382 00:24:38,640 --> 00:24:40,360 Your ragging has begun. 383 00:24:40,520 --> 00:24:42,160 - What's this? - So, we have Lollipops, 384 00:24:42,240 --> 00:24:44,600 Chocolate Peanut Buttercups and Real Fruit Gummies. 385 00:24:44,680 --> 00:24:45,920 [laughs] 386 00:24:46,360 --> 00:24:47,360 Have a sweet! 387 00:24:47,360 --> 00:24:50,680 You were so loud, I thought you might hit me. 388 00:24:50,760 --> 00:24:53,080 - I love the energy. - Yes, absolutely. 389 00:24:53,160 --> 00:24:54,280 - These are our pouches. - Thank you. 390 00:24:54,400 --> 00:24:55,560 Thank you. 391 00:24:56,200 --> 00:24:57,200 - Wow. - Thank you. 392 00:24:57,280 --> 00:24:58,440 I'll take multiple... 393 00:24:58,920 --> 00:25:01,680 - I don't remember the taste of a lollipop. - Why not? 394 00:25:01,800 --> 00:25:02,720 - Thank you. - Thank you. 395 00:25:02,800 --> 00:25:03,960 I can't taste anything... 396 00:25:04,080 --> 00:25:05,960 - I got it. I liked it. I loved it. - [laughter] 397 00:25:06,080 --> 00:25:07,600 Neither do I. 398 00:25:07,840 --> 00:25:08,640 How is it? 399 00:25:09,640 --> 00:25:10,840 I don't taste anything. 400 00:25:12,920 --> 00:25:14,400 Can you taste the lollipop? 401 00:25:14,480 --> 00:25:15,560 I haven't tried it yet. 402 00:25:15,640 --> 00:25:16,680 What about you, Vineeta? 403 00:25:18,040 --> 00:25:20,080 No, right? What about you? 404 00:25:20,480 --> 00:25:22,480 No, not that much. 405 00:25:22,560 --> 00:25:24,640 All three of us tried the lollipop, 406 00:25:24,760 --> 00:25:25,880 but we couldn't taste anything. 407 00:25:28,240 --> 00:25:29,680 The lollipop isn't sweet. 408 00:25:29,760 --> 00:25:31,720 We replace sugar and instead 409 00:25:45,520 --> 00:25:47,160 50% won't eat it. 410 00:25:47,240 --> 00:25:48,640 So, you are selling it for the experience. 411 00:25:48,760 --> 00:25:50,160 This is not really a lollipop then. 412 00:25:51,040 --> 00:25:54,280 A lot of kids haven't tried lollipops. 413 00:25:54,360 --> 00:25:55,920 This is perfect for them. 414 00:25:56,040 --> 00:25:57,920 They've never tasted blood. 415 00:25:58,040 --> 00:26:00,240 There is no taste in this. I am saying... 416 00:26:00,320 --> 00:26:03,280 Do the children you are selling this to find it tasty? 417 00:26:03,360 --> 00:26:05,720 - Yes! They're... - We've not had any bad feedback 418 00:26:05,840 --> 00:26:07,920 - on the taste of the lollipop. - Taste of the lollipop. 419 00:26:09,520 --> 00:26:11,560 - This is okay. - Thank you, sir. 420 00:26:12,000 --> 00:26:14,120 If children want to eat candy, 421 00:26:14,200 --> 00:26:16,000 they never settle for just one candy. 422 00:26:16,080 --> 00:26:19,240 Our ingredients are completely natural 423 00:26:19,360 --> 00:26:21,120 since we don't include 424 00:26:21,200 --> 00:26:23,200 any artificial flavour or colour. 425 00:26:23,280 --> 00:26:24,680 Mothers feel a little more relieved. 426 00:26:43,800 --> 00:26:46,920 We use chicory root extract or FOS. 427 00:26:47,040 --> 00:26:49,520 They work as prebiotics. 428 00:26:49,640 --> 00:26:50,680 It actually... 429 00:26:50,760 --> 00:26:53,600 Very little does it get absorbed by our body. 430 00:26:53,680 --> 00:26:55,680 And it is thrown out of your system. 431 00:26:55,760 --> 00:26:57,200 How many of these can a child have in a day? 432 00:26:57,280 --> 00:26:58,200 - An entire packet. - The whole packet. 433 00:26:58,320 --> 00:26:59,800 How many Gummies are in one packet? 434 00:26:59,920 --> 00:27:01,160 About 12 to 15. 435 00:27:01,240 --> 00:27:03,360 According to 15 Gummies, 436 00:27:03,600 --> 00:27:07,240 you are saying about 40 to 50 grams of carbs. 437 00:27:07,920 --> 00:27:09,960 You were arguing that 438 00:27:10,040 --> 00:27:13,200 it does not cause a spike as much as sugar, that's not true. 439 00:27:13,280 --> 00:27:14,880 The concept of sugar is simple. 440 00:27:14,960 --> 00:27:16,880 - There are simple carbs and complex. - Yes! 441 00:27:16,960 --> 00:27:18,120 These are simple carbs. 442 00:27:18,440 --> 00:27:20,640 There is no question, there is no debate about it. 443 00:27:20,720 --> 00:27:24,360 If you consume around 30-40 grams, there'll be a spike. 444 00:27:25,840 --> 00:27:27,600 You said the feedback was positive. 445 00:27:27,720 --> 00:27:29,600 Which age group are the majority of customers from? 446 00:27:34,200 --> 00:27:37,120 because they're high in protein and fibre. 447 00:27:37,360 --> 00:27:40,160 - Is Peanut Buttercups your highest-selling product? - Lollipop. 448 00:27:47,520 --> 00:27:48,840 Lollipops is about... 449 00:28:07,880 --> 00:28:10,480 At the start, you said the market is Rs. 20,000 crores, 450 00:28:10,600 --> 00:28:12,960 but you're playing in a Rs. 50-crore market. 451 00:28:13,840 --> 00:28:16,240 Our pricing can be lowered. 452 00:28:16,360 --> 00:28:19,360 Right now, we are producing in very small batches. 453 00:28:19,480 --> 00:28:20,760 Even then, 10x! 454 00:28:20,840 --> 00:28:24,240 If you tell the consumer to upgrade by 20 to 30% 455 00:28:24,360 --> 00:28:26,680 from the less healthy, it's acceptable. 456 00:28:27,040 --> 00:28:29,320 10x! It's a lot! 457 00:28:30,520 --> 00:28:32,840 How could you think of pricing it at such an MRP? 458 00:28:32,960 --> 00:28:34,360 And why is it priced so high? 459 00:28:34,440 --> 00:28:37,480 Gummies, as a product, is very expensive to make. 460 00:28:37,600 --> 00:28:38,960 How much does this lollipop cost? 461 00:28:49,960 --> 00:28:53,040 Look at the size of that lollipop and this lollipop. 462 00:28:53,600 --> 00:28:56,360 Sir, that is round in the shape of a football. 463 00:28:56,480 --> 00:28:58,960 - Ours is flat. - This is the same size as Mango Bite. 464 00:28:59,080 --> 00:29:00,720 - Yes. - Mango Bite costs one rupee. 465 00:29:01,120 --> 00:29:03,400 Correct, but we cannot sell Mango Bite. 466 00:29:03,480 --> 00:29:05,120 We can't sell in that price range 467 00:29:05,200 --> 00:29:06,640 - because... - That's fine. 468 00:29:06,720 --> 00:29:08,960 We are just trying to gauge 469 00:29:09,040 --> 00:29:11,640 how costly your product is as compared to the average product. 470 00:29:11,760 --> 00:29:13,640 Whether it is 2x, 5x or 10x. 471 00:29:13,720 --> 00:29:15,240 - Maybe 5 or 10x. - Understood. 472 00:29:15,320 --> 00:29:16,760 - 5 to 10x. - Yes. 473 00:29:16,880 --> 00:29:17,840 - 5 is okay. - It is 5x. 474 00:29:17,920 --> 00:29:18,920 Which is fine. 475 00:29:19,000 --> 00:29:22,280 Did you conduct research? Does a 5x price really sell? 476 00:29:22,360 --> 00:29:25,040 Our products are available and people are buying them. 477 00:29:25,160 --> 00:29:26,320 So, they are selling. 478 00:29:27,160 --> 00:29:29,120 Coming to the international brands that are imported. 479 00:29:29,200 --> 00:29:31,360 For instance Jolly Ranchers or Haribo Gummi Bears 480 00:29:31,440 --> 00:29:34,000 or even Reese's Chocolate Peanut Butter Cups. 481 00:29:34,000 --> 00:29:36,160 They are way higher than our products 482 00:29:36,280 --> 00:29:37,560 and they are being imported. 483 00:29:37,640 --> 00:29:40,480 - India has many kinds of markets. - Hmm. 484 00:29:40,560 --> 00:29:43,720 The market you are talking about... You took Haribo as an example 485 00:29:43,800 --> 00:29:47,240 but if laymen hear it, they'd mistake it to be a swear word. 486 00:29:47,320 --> 00:29:49,600 I mean they don't know it. I hope you understand. 487 00:29:49,680 --> 00:29:52,720 - There's a segment which can pay any price. - Yes. 488 00:29:52,840 --> 00:29:56,480 We accept that you can sell them any product but it's a small segment. 489 00:29:56,680 --> 00:29:58,560 - I think that's the point people are trying to make. - Correct! 490 00:29:58,680 --> 00:30:02,240 You can't launch a premium imported substitute brand 491 00:30:02,360 --> 00:30:03,840 and then turn it into a mass brand. 492 00:30:03,920 --> 00:30:04,960 - No. We agree. - It's impossible. 493 00:30:05,080 --> 00:30:06,120 - Sure. - We agree. 494 00:30:06,200 --> 00:30:07,560 Will you please share the numbers? 495 00:30:07,640 --> 00:30:09,520 I mean your sales figures. 496 00:30:09,600 --> 00:30:12,960 Last year, during FY22-23, 497 00:30:43,080 --> 00:30:44,040 So there's a problem. 498 00:30:44,120 --> 00:30:46,120 - Last year, you sold just Gummies. - Yes. 499 00:30:46,200 --> 00:30:48,920 - You sold Gummies worth Rs. 1.25 lakhs. - Yes. 500 00:30:49,160 --> 00:30:53,720 But this year, your sales aren't flat. They have dipped. 501 00:30:55,080 --> 00:30:56,640 You are launching new products too. 502 00:30:56,720 --> 00:30:59,120 Although your first product wasn't a success. 503 00:31:24,160 --> 00:31:27,040 Gummies are difficult to understand. 504 00:31:27,120 --> 00:31:28,680 So you'll stop making Gummies eventually. 505 00:31:28,760 --> 00:31:32,200 No. We'll make Gummies and export them. 506 00:31:32,280 --> 00:31:35,320 - Wow! - We have received enquiries for export. 507 00:31:35,920 --> 00:31:38,080 I think it's fair to say 508 00:31:38,160 --> 00:31:40,960 you're at an early stage of finding, in my view at least, 509 00:31:49,160 --> 00:31:51,560 - Then start focussing on one product. - Sure. 510 00:31:51,680 --> 00:31:55,240 I'm out today but keep going and it was great meeting you. 511 00:31:55,360 --> 00:31:56,760 - Thank you, Peyush. - Thank you! 512 00:31:56,840 --> 00:31:58,840 I'd like to be out too. 513 00:31:58,920 --> 00:32:01,720 - I want to be out because it's too early. - Sure. 514 00:32:01,840 --> 00:32:05,280 Over time, you could find a good product 515 00:32:05,400 --> 00:32:08,960 and there's going to be a demand as the world wants healthier options. 516 00:32:09,080 --> 00:32:10,600 - Yes. - There are going to be more options. 517 00:32:10,680 --> 00:32:13,800 - However, it's too early to take a decision now. - Sure. 518 00:32:14,280 --> 00:32:15,880 How much do you burn in a month? 519 00:32:15,960 --> 00:32:19,000 Month-on-month burn is about Rs. 2-2.5 lakhs. 520 00:32:27,200 --> 00:32:29,800 - Incredible! - Was the burn from the sales? 521 00:32:29,880 --> 00:32:30,720 The burn wasn't from the sales. 522 00:32:30,800 --> 00:32:33,480 Ah! No! Not like that. 523 00:32:33,560 --> 00:32:35,320 The burn is actually lesser. 524 00:32:35,400 --> 00:32:37,080 - It's about Rs. 50,000. - Hold on! 525 00:32:37,160 --> 00:32:38,480 Please tell me your EBITDA first. 526 00:32:38,560 --> 00:32:40,960 We have a negative EBITDA of 20%. 527 00:32:41,040 --> 00:32:42,400 - 20%? - 20%. 528 00:32:56,760 --> 00:33:00,200 15% on office space 529 00:33:00,280 --> 00:33:01,640 and our warehouse. 530 00:33:01,720 --> 00:33:03,440 That isn't working capital. 531 00:33:03,520 --> 00:33:05,840 Working capital is the money 532 00:33:06,040 --> 00:33:10,480 that is tied up in inventory and receivables from your stores. 533 00:33:10,640 --> 00:33:14,080 We have about Rs. 3.5 lakhs 534 00:33:14,160 --> 00:33:15,560 in our receivables. 535 00:33:15,680 --> 00:33:18,240 And if I look at inventory, 536 00:33:18,320 --> 00:33:21,280 we have about Rs. 1-1.5 crores worth of inventory. 537 00:33:21,360 --> 00:33:22,360 - What? - Wow! 538 00:33:22,480 --> 00:33:24,440 - No! She is getting the figures wrong. - Oh my God! 539 00:33:24,800 --> 00:33:26,440 It is impossible. Think again. 540 00:33:26,760 --> 00:33:29,080 An inventory of Rs. 1 crore on MRP. 541 00:33:29,400 --> 00:33:31,400 - On MRP. - That's not possible. 542 00:33:31,480 --> 00:33:33,720 Why will you have 1.5 years worth of stock? 543 00:33:33,800 --> 00:33:37,280 Ah! It's a total of three products. It's not one product. 544 00:33:37,360 --> 00:33:39,400 - But the monthly sale is Rs. 5 lakhs. -Impossible! 545 00:33:39,520 --> 00:33:40,560 It's not possible. 546 00:33:40,680 --> 00:33:42,440 - The expiration date is July 2024. - Hold on! 547 00:33:42,520 --> 00:33:44,640 The figures are wrong. Please think again. 548 00:33:44,720 --> 00:33:47,200 To create an inventory worth Rs. 1 crore 549 00:33:47,320 --> 00:33:49,000 with a gross margin of 70%, 550 00:33:49,080 --> 00:33:51,680 you would need to provide an advance 551 00:33:51,760 --> 00:33:53,880 of around Rs. 30-40 lakhs to your manufacturer. 552 00:33:53,960 --> 00:33:55,080 - Did you pay him that much? - No! 553 00:33:55,240 --> 00:33:56,440 Your figures are wrong. 554 00:33:56,960 --> 00:34:00,160 Okay! Their numbers are not that strong. Forget it. 555 00:34:00,240 --> 00:34:02,120 - Vineeta do you have a decision? - You need a chartered accountant. 556 00:34:02,200 --> 00:34:03,440 - And a good one to help you. - Sure. 557 00:34:30,280 --> 00:34:31,560 How do you run your household? 558 00:34:31,640 --> 00:34:32,880 Who invested the money? 559 00:34:32,960 --> 00:34:35,040 We organised a small FNF 560 00:34:35,120 --> 00:34:37,400 of friends and family. We raised Rs. 60 lakhs. 561 00:34:52,160 --> 00:34:53,360 Numbers! 562 00:35:32,680 --> 00:35:34,040 - We have all our numbers. - How? 563 00:35:34,120 --> 00:35:35,800 You don't lack business acumen. I'm sorry. 564 00:35:44,600 --> 00:35:46,800 In the last three months, 565 00:35:57,200 --> 00:36:00,080 After that, in advertising 566 00:36:00,160 --> 00:36:03,080 about... We spent 567 00:36:03,160 --> 00:36:05,040 about Rs. 15 lakhs. 568 00:36:05,120 --> 00:36:07,920 What? Rs. 15 lakhs on a revenue of Rs. 13.5 lakhs? 569 00:36:08,000 --> 00:36:09,840 Forget it! They don't know the numbers. 570 00:36:09,920 --> 00:36:12,040 - Why are you bothering them? - Forget it! 571 00:36:12,160 --> 00:36:13,480 Okay! Sorry! 572 00:36:13,560 --> 00:36:16,560 Sandhya! Aashnee! I still don't have a problem with your losses. 573 00:36:16,680 --> 00:36:18,280 I don't have a problem with the fact 574 00:36:18,360 --> 00:36:19,680 that you don't have product-market fit. 575 00:36:19,760 --> 00:36:21,360 My problem is that 576 00:36:21,440 --> 00:36:24,040 you lack understanding of your business. 577 00:36:24,120 --> 00:36:26,280 - No... - So, I am sorry. I am out. 578 00:36:26,360 --> 00:36:30,480 I really hope that you can fix 579 00:36:30,600 --> 00:36:33,480 this one thing and then raise money. 580 00:36:33,560 --> 00:36:36,000 - Three Sharks are out, alright? - Yeah! 581 00:36:36,080 --> 00:36:39,320 Look, I think you have a good advertising background. 582 00:36:39,400 --> 00:36:41,200 And your presentation is good. 583 00:36:42,240 --> 00:36:45,280 But I felt that there was a lack of communication. 584 00:36:45,400 --> 00:36:47,520 You failed to comprehend many questions. 585 00:36:47,600 --> 00:36:49,080 You are good salespeople. 586 00:36:49,400 --> 00:36:52,520 - Apart from that, you lack business acumen. - Sure. 587 00:36:52,640 --> 00:36:54,240 The second issue is your category. 588 00:36:54,320 --> 00:36:55,720 You are saying Rs. 20,000 crores. 589 00:36:55,720 --> 00:36:57,240 She claims that this is a good category. 590 00:36:57,320 --> 00:36:59,640 Your category isn't even valued at Rs. 200 crores 591 00:36:59,760 --> 00:37:01,400 with the price point you have. 592 00:37:02,320 --> 00:37:04,840 I think there is a difference between India and Bharat. 593 00:37:04,960 --> 00:37:06,640 The product you're creating for India 594 00:37:06,760 --> 00:37:10,120 has a limited scope. Probably not going to make money. 595 00:37:10,240 --> 00:37:12,080 But you do not understand Bharat. 596 00:37:12,160 --> 00:37:14,720 And I think those are the issues. And that's the reason I am out. 597 00:37:15,080 --> 00:37:16,360 Okay! 598 00:37:16,520 --> 00:37:19,480 - Thank you! - Look, I... 599 00:37:19,560 --> 00:37:21,960 As I mentioned earlier, I like this category. 600 00:37:22,160 --> 00:37:23,160 I like the entrepreneurs. 601 00:37:23,280 --> 00:37:25,400 You need to work on category expansion. 602 00:37:25,640 --> 00:37:27,920 You have no clue about the finances. 603 00:37:28,040 --> 00:37:30,960 We believe we can definitely make it happen, Aman. 604 00:37:31,040 --> 00:37:33,520 What will you do if you don't make money in six months? 605 00:37:34,080 --> 00:37:35,320 We're in 606 00:37:35,440 --> 00:37:37,920 talks with investors 607 00:37:38,000 --> 00:37:39,800 and have some soft commitments. 608 00:37:39,880 --> 00:37:40,720 Who are they? 609 00:37:40,960 --> 00:37:42,800 There are investors. 610 00:37:42,880 --> 00:37:44,520 They are angels, not institutional. 611 00:37:44,600 --> 00:37:45,960 There were celebrities, too. 612 00:37:46,040 --> 00:37:47,480 Aman will give you a deal now. 613 00:37:48,160 --> 00:37:50,160 Okay! I will give you a conditional offer. 614 00:38:02,520 --> 00:38:03,720 for 5% equity. 615 00:38:04,640 --> 00:38:07,480 - And balance Rs. 40 lakhs debt. - Okay. 616 00:38:38,320 --> 00:38:39,400 Take the cheque. 617 00:38:40,240 --> 00:38:41,520 Take the cheque. 618 00:38:42,480 --> 00:38:45,360 - Take the cheque? - Just take whatever he is offering... 619 00:38:45,440 --> 00:38:47,280 We can hear you! 620 00:38:47,400 --> 00:38:48,440 What did she say? 621 00:38:48,440 --> 00:38:50,280 Let's take the cheque, whatever he is giving. 622 00:38:50,360 --> 00:38:52,320 - Let's take the cheque. - Hold on! 623 00:38:52,400 --> 00:38:54,800 Let's take the cheque, whatever he is offering. 624 00:38:54,960 --> 00:38:56,080 Why? 625 00:38:56,400 --> 00:38:57,880 Because we genuinely want you to... 626 00:38:58,000 --> 00:38:59,920 Let's not create more confusion. 627 00:39:00,000 --> 00:39:01,480 Let's sell lollipops. 628 00:39:13,120 --> 00:39:16,760 If I can help them by guiding them, 629 00:39:16,840 --> 00:39:18,240 then they can do something big. 630 00:39:18,640 --> 00:39:20,480 I think it was a completely illogical offer. 631 00:39:20,560 --> 00:39:23,640 Our responsibility as Sharks is that we put money 632 00:39:23,720 --> 00:39:25,600 in the right founders. 633 00:39:25,680 --> 00:39:27,440 Otherwise, there are millions of 634 00:39:27,520 --> 00:39:29,480 founders and startups who need support. 635 00:39:29,600 --> 00:39:31,200 Invest in everyone. 636 00:39:31,280 --> 00:39:34,480 Our duty as Sharks extends beyond generating profits for ourselves. 637 00:39:34,560 --> 00:39:36,400 Our responsibility as Sharks is 638 00:39:36,480 --> 00:39:38,040 to provide financial assistance to those in need. 639 00:39:38,120 --> 00:39:40,920 If I can give them a little bit of time and help them, 640 00:39:41,080 --> 00:39:42,360 I am very happy to do that. 641 00:40:04,840 --> 00:40:06,880 [theme music playing] 642 00:40:10,880 --> 00:40:13,160 [theme music playing] 643 00:40:26,840 --> 00:40:29,080 We all indulge in snacking 644 00:40:29,160 --> 00:40:31,680 despite knowing that it is unhealthy. 645 00:40:31,920 --> 00:40:35,440 If I were to suggest giving up this habit, 646 00:40:35,560 --> 00:40:38,400 then all of you would experience a range of emotions. 647 00:40:39,160 --> 00:40:40,560 First is denial. 648 00:40:41,600 --> 00:40:44,240 Potato chips are made from potatoes. 649 00:40:44,320 --> 00:40:46,760 Potato is a vegetable. 650 00:40:47,160 --> 00:40:49,120 Second is anger. 651 00:40:49,960 --> 00:40:53,800 Isn't it possible to make healthy snacking as tasty as this? 652 00:40:54,360 --> 00:40:55,360 Don't throw... 653 00:40:56,400 --> 00:40:58,120 Third is bargaining. 654 00:40:58,200 --> 00:41:00,760 It is okay to have 3 packets of chips. 655 00:41:00,840 --> 00:41:03,120 It is an issue if you have more than 3 packets. 656 00:41:04,280 --> 00:41:06,360 Eventually, acceptance. 657 00:41:06,440 --> 00:41:09,040 Okay! Snacks that are salt-free, 658 00:41:09,120 --> 00:41:12,400 oil-free, and flavourless are the way forward for my snacking habits. 659 00:41:13,760 --> 00:41:15,840 Sharks, do we have to experience a range of emotions 660 00:41:15,920 --> 00:41:20,240 to give up one packet of chips and chocolates? 661 00:41:20,880 --> 00:41:24,640 Absolutely not! That's precisely why we've introduced Sorich products. 662 00:41:32,120 --> 00:41:34,800 At Sorich, we create products 663 00:42:05,600 --> 00:42:08,400 "We can get married in a temple. 664 00:42:08,480 --> 00:42:10,640 Please give us the wedding money 665 00:42:10,720 --> 00:42:12,640 so that we can invest it in our business." 666 00:42:12,720 --> 00:42:15,080 - Wow! - They agreed. 667 00:42:15,160 --> 00:42:18,080 It helped us start Sorich. 668 00:42:19,200 --> 00:42:22,360 Sorich has become a health revolution today. 669 00:42:37,880 --> 00:42:41,680 so that they can enjoy snacking guilt-free. 670 00:43:02,760 --> 00:43:04,160 - and not your wedding. - Yes. 671 00:43:04,240 --> 00:43:06,000 - Is it true? - Yes. 672 00:43:06,120 --> 00:43:07,560 Why did it come to this? 673 00:43:08,040 --> 00:43:13,040 Actually, our wedding was planned in 2015. 674 00:43:13,120 --> 00:43:15,880 We booked the banquets too. 675 00:43:15,960 --> 00:43:19,000 - Wow! - When we received the bills... 676 00:43:19,080 --> 00:43:21,800 - The expenses. - We had to book rooms and had various expenses. 677 00:43:21,880 --> 00:43:26,840 At that time, my mother had just recovered from cancer. 678 00:43:26,920 --> 00:43:30,720 She was diagnosed with cancer at the end of 2013. 679 00:43:30,920 --> 00:43:35,280 So 2014 was a difficult period for us. 680 00:43:35,360 --> 00:43:37,560 Both of us did the calculations 681 00:43:37,640 --> 00:43:41,520 and we decided to save all the money. 682 00:43:41,600 --> 00:43:44,280 Very nice. How much money did you save? 683 00:43:44,800 --> 00:43:46,840 Around Rs. 60-Rs. 70 lakhs. 684 00:43:46,920 --> 00:43:48,480 - Wow! - You invested all the money in business. 685 00:43:48,560 --> 00:43:49,400 - Yes. - Yes. 686 00:43:49,480 --> 00:43:51,680 - When did you start it? - 2015. 687 00:43:51,920 --> 00:43:55,320 Actually, when my mom was diagnosed with cancer, 688 00:43:55,400 --> 00:43:58,080 I researched for her sake. 689 00:43:58,200 --> 00:43:59,880 I took Ayurveda's help 690 00:43:59,960 --> 00:44:02,840 and developed different kinds of teas. 691 00:44:02,920 --> 00:44:05,720 I prepared some products 692 00:44:05,800 --> 00:44:09,200 at home to add nutrition to her diet. 693 00:44:09,280 --> 00:44:13,920 When those products were shared with friends and family, 694 00:44:14,080 --> 00:44:17,520 I received a surge of demand. 695 00:44:25,160 --> 00:44:28,120 - Can we see your sample products, please? - Yes. 696 00:44:28,240 --> 00:44:30,800 [ethereal music playing] 697 00:44:34,520 --> 00:44:36,160 - Thank you. - These are two kinds of peanut butter. 698 00:44:40,600 --> 00:44:42,960 Wow! Thank you so much! 699 00:44:45,880 --> 00:44:46,880 Thank you, Richa. 700 00:44:47,080 --> 00:44:49,520 I like it. It reads, 'party mix spicy'! 701 00:44:49,600 --> 00:44:50,680 Yes. 702 00:44:50,920 --> 00:44:52,880 'Pudina tree pumpkin seeds'. 703 00:44:54,840 --> 00:44:57,440 [ethereal music playing] 704 00:44:57,800 --> 00:44:59,200 How many SKUs do you have? 705 00:44:59,280 --> 00:45:02,800 We have 67 SKUs. 706 00:45:03,280 --> 00:45:06,040 I loved the Orange Cashew, by the way. 707 00:45:06,120 --> 00:45:09,800 We can feel the taste of real orange peel. 708 00:45:10,080 --> 00:45:11,200 - Is it an ingredient? - Yes. 709 00:45:44,960 --> 00:45:47,320 - Its price is Rs. 110. - Yes. 710 00:45:47,400 --> 00:45:50,240 - And it weighs approximately 65 grams. - Yes. 711 00:45:50,320 --> 00:45:52,920 We have launched this product 712 00:45:53,040 --> 00:45:55,560 for quick commerce, especially. 713 00:45:55,640 --> 00:45:59,040 Their price point is around Rs. 100. 714 00:45:59,040 --> 00:46:01,400 Don't you think it's too expensive for such a small quantity? 715 00:46:01,480 --> 00:46:05,040 Generally, this much amount should cost only Rs. 20 to Rs. 25. 716 00:46:06,600 --> 00:46:09,960 - Is it selling on quick commerce at five times the cost? - Yes. 717 00:46:10,200 --> 00:46:11,640 - Yes. - On what basis? 718 00:46:12,600 --> 00:46:13,880 It contains nuts and seeds. 719 00:46:13,960 --> 00:46:15,400 Basically, dry fruits. 720 00:46:15,480 --> 00:46:16,720 But still... 721 00:46:16,800 --> 00:46:19,760 - Tell me the price of others. It's a Dessert Bar. - It's a Dessert Bar. 722 00:46:19,840 --> 00:46:20,840 It isn't organic. 723 00:46:20,960 --> 00:46:22,680 It isn't organic and costs Rs. 70. 724 00:46:22,760 --> 00:46:24,600 It costs Rs. 70 and where can we buy it? 725 00:46:31,880 --> 00:46:33,320 It's named according to the price. 726 00:46:34,120 --> 00:46:36,040 It's very nice because apparently, 727 00:46:36,120 --> 00:46:38,720 it reads that it contains 30% cashew. 728 00:46:40,400 --> 00:46:42,760 Good packaging and the taste of the product is good. 729 00:46:43,240 --> 00:46:44,120 However... 730 00:46:44,200 --> 00:46:45,680 I think the taste can improve. 731 00:46:51,040 --> 00:46:54,160 B2C, offline and online. Whatever platform you may call it. 732 00:46:54,240 --> 00:46:55,520 How will you stand out? 733 00:46:56,480 --> 00:46:58,200 We manufacture our products 734 00:47:15,920 --> 00:47:20,360 your biggest USP for the customer, what will it be? 735 00:47:20,640 --> 00:47:22,040 Our products are made 736 00:47:22,120 --> 00:47:24,720 with minimum processing. 737 00:47:24,800 --> 00:47:26,840 It's like home-cooked food. 738 00:47:26,920 --> 00:47:28,000 That is our USP. 739 00:47:28,080 --> 00:47:30,840 Basically, it's healthy snacking. All the companies say that. 740 00:47:32,080 --> 00:47:34,640 Please share your sales for the last three years. 741 00:48:14,480 --> 00:48:15,400 Rs. 55 lakhs. 742 00:48:23,240 --> 00:48:25,480 So you are spending Rs. 2-Rs. 2.5 lakhs. 743 00:48:25,560 --> 00:48:26,440 - Rs. 2.7 lakhs. - How are you managing? 744 00:48:26,440 --> 00:48:28,720 - Are you drawing a salary? - Yes. 745 00:48:28,800 --> 00:48:30,600 - What's your salary? - Rs. 75, 000 for each one of us. 746 00:48:30,680 --> 00:48:32,880 Basically, you are burning the amount you are drawing. 747 00:48:34,240 --> 00:48:35,600 What is your gross margin? 748 00:48:40,720 --> 00:48:42,360 - You're in the food category. - Yes. 749 00:48:42,360 --> 00:48:44,480 And the price of this tiny SKU is Rs. 100. 750 00:48:45,640 --> 00:48:47,960 Then how can it be that your gross margin is 48%? 751 00:48:48,040 --> 00:48:50,560 Are other brands priced higher than you or lower? 752 00:48:50,680 --> 00:48:51,680 They're competitive. 753 00:48:52,400 --> 00:48:55,160 - In these eight years, what was the total loss in business? - Yes. 754 00:48:56,080 --> 00:48:58,040 Our total... 755 00:49:06,320 --> 00:49:08,440 We did losses in the first two years. 756 00:49:30,040 --> 00:49:30,840 Tell me something. 757 00:49:30,920 --> 00:49:33,120 It has been 8 years. 758 00:51:07,280 --> 00:51:09,800 What is your current distribution channel? 759 00:51:09,920 --> 00:51:10,760 E-commerce. 760 00:51:15,080 --> 00:51:16,040 - That's the problem. - Why not? 761 00:51:16,120 --> 00:51:19,880 - Sir, we were in discussions... - What were you doing for two years? 762 00:51:19,960 --> 00:51:21,240 Quick commerce is booming! 763 00:51:22,040 --> 00:51:24,520 Especially in the last two years, 764 00:51:25,160 --> 00:51:27,680 - and your category is made for quick commerce. - Yes. 765 00:51:27,840 --> 00:51:29,600 What were you doing in the last two years? 766 00:51:29,760 --> 00:51:31,480 Sir, we had discussions with them 767 00:51:31,560 --> 00:51:33,960 to let us run a pilot and they said post Diwali... 768 00:51:34,080 --> 00:51:37,360 50% business of your competitors comes from quick commerce. 769 00:51:37,480 --> 00:51:38,800 Something is lacking. 770 00:51:38,880 --> 00:51:42,640 Either your energy, aggression or the way you do business. 771 00:51:42,760 --> 00:51:44,200 There's a problem somewhere. 772 00:51:45,360 --> 00:51:48,000 I don't know what it is. Why can't you do it? 773 00:51:48,200 --> 00:51:50,160 My question hasn't been answered yet. I don't understand... 774 00:51:50,280 --> 00:51:51,960 Were you negotiating on the commission? 775 00:51:52,080 --> 00:51:53,000 - No. - No? 776 00:51:53,240 --> 00:51:54,040 Then? 777 00:51:54,160 --> 00:51:56,520 There's an entry barrier for us. 778 00:51:57,400 --> 00:51:58,800 - You're a little late now. - We've tried. 779 00:51:58,880 --> 00:52:00,280 - Yes, we are late. - Yes. 780 00:52:00,400 --> 00:52:02,000 There's an entry barrier for us now. 781 00:52:02,080 --> 00:52:05,040 - Actually... - So, we can say that your product... 782 00:52:05,120 --> 00:52:08,000 An entry barrier suggests that the market is full. 783 00:52:08,080 --> 00:52:10,440 Your product doesn't have a differentiator. 784 00:52:11,320 --> 00:52:14,880 As far as I have understood, there's no product market fit. 785 00:52:14,960 --> 00:52:16,600 Consumers don't want this product. 786 00:52:17,400 --> 00:52:20,720 I think snacking as a category in India is huge. 787 00:52:20,800 --> 00:52:23,360 As far as this business is concerned, 788 00:52:23,520 --> 00:52:24,960 the way you're operating, 789 00:52:25,320 --> 00:52:27,080 you couldn't make money in E-commerce. 790 00:52:28,480 --> 00:52:31,040 You claim quick commerce has been blocked for you. 791 00:52:31,800 --> 00:52:34,560 You cannot make money in modern retail. 792 00:52:35,880 --> 00:52:36,840 It's very difficult. 793 00:52:37,120 --> 00:52:38,400 In general retail, 794 00:52:38,520 --> 00:52:41,960 this won't fit at your price point and just won't sell. 795 00:52:42,080 --> 00:52:43,400 You already know that. 796 00:52:43,520 --> 00:52:45,000 For that reason, I am out. 797 00:52:45,120 --> 00:52:47,920 I don't see this business growing any more than it already has. 798 00:52:49,360 --> 00:52:50,960 I am also out. 799 00:52:51,640 --> 00:52:53,600 Here's my suggestion to you. 800 00:52:53,720 --> 00:52:57,040 Shut down the current business and rethink it. 801 00:52:59,360 --> 00:53:00,680 The business is eight years old 802 00:53:00,760 --> 00:53:02,840 and you're still at Rs. 7 crores sales 803 00:53:02,920 --> 00:53:04,840 and zero profit. In fact, you're making losses. 804 00:53:04,920 --> 00:53:06,440 The business isn't growing either. 805 00:53:06,520 --> 00:53:08,960 There's neither growth in the business nor profit. 806 00:53:09,040 --> 00:53:11,680 Either of these should be true 807 00:53:11,760 --> 00:53:14,560 at any given point in time for any business. 808 00:53:14,640 --> 00:53:15,600 Neither is true here. 809 00:53:15,680 --> 00:53:19,040 It isn't a matter of days, you have given it 8 years of your life. 810 00:53:19,160 --> 00:53:20,000 So, shut it. 811 00:53:20,080 --> 00:53:21,040 It won't succeed. 812 00:53:21,880 --> 00:53:23,920 No, I don't agree with him. 813 00:53:25,200 --> 00:53:27,840 I think building a business of Rs. 7 to 8 crores, 814 00:53:27,920 --> 00:53:29,560 which is bootstrapped 815 00:53:29,640 --> 00:53:31,280 with your own manufacturing, 816 00:53:31,400 --> 00:53:34,240 is quite impressive. 817 00:53:35,960 --> 00:53:40,480 However, I didn't quite like your branding. 818 00:53:40,600 --> 00:53:42,240 It has too many different fonts. 819 00:53:42,360 --> 00:53:44,040 Your logo is tiny. 820 00:53:44,120 --> 00:53:46,520 Everything else is bigger. 821 00:53:46,640 --> 00:53:50,840 I get the sense that your sales and marketing DNA 822 00:53:51,040 --> 00:53:52,800 is missing in the team. 823 00:53:53,720 --> 00:53:56,600 That's a weakness owing to which I am also out. 824 00:53:56,800 --> 00:53:59,080 I'll be happy to help you otherwise. 825 00:53:59,800 --> 00:54:00,600 Thank you. 826 00:54:14,000 --> 00:54:17,000 I believe you lack a little aggression 827 00:54:17,000 --> 00:54:18,280 and have a laid-back attitude. 828 00:54:18,400 --> 00:54:21,200 I'm out for that reason. I won't be able to work with you. 829 00:54:58,000 --> 00:54:59,320 I am out today. 830 00:54:59,640 --> 00:55:01,960 Don't invest in marketing but in talent. 831 00:55:02,040 --> 00:55:04,240 The business can still grow. Best of luck. 832 00:55:04,480 --> 00:55:05,440 - Thank you. - Okay. 833 00:55:05,760 --> 00:55:06,920 - Good luck, guys. - Good job. 834 00:55:07,000 --> 00:55:08,960 Your products are great, Richa. 835 00:55:09,160 --> 00:55:11,040 - I have to give you that. - I'll be a customer. I promise. 836 00:55:11,160 --> 00:55:12,760 - Me too. I love them. - Me too. 837 00:55:12,960 --> 00:55:15,240 It should be available! Where will you buy it? 838 00:55:15,400 --> 00:55:16,600 [sombre music playing] 839 00:56:18,800 --> 00:56:20,640 Welcome to Ask The Shark. 840 00:56:20,720 --> 00:56:21,960 Joining us today 841 00:56:22,120 --> 00:56:25,440 is Mr. Anupam Mittal who has invested in over 200 companies. 842 00:56:25,520 --> 00:56:26,960 - Sir, welcome to Ask The Shark. - Thank you. 843 00:56:27,080 --> 00:56:29,680 - Lovely to be here on your couch. - Thank you very much. 844 00:56:29,760 --> 00:56:31,760 Sir, today's question is from the mountains. 845 00:56:31,840 --> 00:56:33,720 It is by Suraj from Himachal Pradesh. 846 00:56:33,920 --> 00:56:36,440 He has a simple and straightforward question. 847 00:56:51,120 --> 00:56:53,840 As far as my experience goes, 848 00:56:54,480 --> 00:56:57,320 if you hone your capabilities 849 00:56:57,440 --> 00:57:00,480 and dedicate every minute to it, 850 00:57:00,560 --> 00:57:04,280 you completely surrender to it... 851 00:57:04,720 --> 00:57:05,960 You go in one direction 852 00:57:06,040 --> 00:57:07,960 and see what's happening in the world.