1 00:00:10,120 --> 00:00:11,480 [theme music playing] 2 00:00:18,440 --> 00:00:19,840 [music playing] 3 00:00:30,600 --> 00:00:34,320 'Once again on Shark Tank India, the co-founder and CEO of Inshorts' 4 00:00:34,600 --> 00:00:38,720 'Azhar Iqubal, is here to test the pitchers!' 5 00:00:40,280 --> 00:00:42,040 [theme music concludes] 6 00:00:44,960 --> 00:00:47,240 [music playing] 7 00:01:07,800 --> 00:01:10,640 Hi, Sharks! Mental stress is not just a problem now, 8 00:01:10,720 --> 00:01:12,800 but a global crisis. 9 00:01:12,880 --> 00:01:14,160 When you wake up in the morning, 10 00:01:14,240 --> 00:01:16,760 do you experience an unusual sense of restlessness? 11 00:01:16,920 --> 00:01:20,520 You feel exhausted even before the day begins. 12 00:01:20,880 --> 00:01:23,920 You feel irritated or agitated over petty things. 13 00:01:24,440 --> 00:01:27,040 By the time you return home at night, all you can think is, 14 00:01:27,120 --> 00:01:29,400 'My life is consumed by stress.' 15 00:01:29,720 --> 00:01:31,520 When it's time to sleep, 16 00:01:31,600 --> 00:01:34,360 as you lie in bed, you find yourself wondering, 17 00:01:34,480 --> 00:01:35,760 'When will I fall asleep?' 18 00:01:35,840 --> 00:01:36,880 Hold on! 19 00:01:37,160 --> 00:01:39,560 - Isn't this normal? - Not at all. 20 00:01:39,840 --> 00:01:43,200 These things are indicators of your mental health. 21 00:01:43,400 --> 00:01:46,680 Sharks, 70% of people in India 22 00:01:46,760 --> 00:01:49,200 show some symptom of stress. 23 00:02:00,680 --> 00:02:03,480 ...but also your physical health. 24 00:02:09,920 --> 00:02:11,760 But they also mention 25 00:02:11,920 --> 00:02:13,880 stress less and sleep more. 26 00:02:14,160 --> 00:02:16,600 But no one knows how to do that. 27 00:02:16,680 --> 00:02:18,080 People resort to supplements, 28 00:02:18,200 --> 00:02:20,080 but they aren't effective in the long run. 29 00:02:20,160 --> 00:02:22,720 The drop-off rate is high in meditation. 30 00:02:22,840 --> 00:02:25,880 And people keep attempting to exercise all their lives. 31 00:02:26,280 --> 00:02:28,440 Current solutions are not effective. 32 00:02:28,520 --> 00:02:32,200 The world genuinely needs a tangible solution to this stress. 33 00:02:45,280 --> 00:02:47,640 InnerGize is a clinically validated 34 00:02:47,840 --> 00:02:49,440 mental health wearable 35 00:02:49,520 --> 00:02:52,960 that provides immediate stress relief upon use. 36 00:02:53,080 --> 00:02:54,640 And with everyday use, 37 00:03:01,200 --> 00:03:03,200 that you place behind your ear. 38 00:03:03,360 --> 00:03:04,960 To use this, 39 00:03:05,040 --> 00:03:07,080 you have to peel the sticker. 40 00:03:24,640 --> 00:03:26,960 to activate the vagus nerve, 41 00:03:41,960 --> 00:03:43,040 We have tested this device 42 00:03:43,200 --> 00:03:45,240 on more than 1100 users 43 00:03:45,400 --> 00:03:46,800 and the results have been outstanding. 44 00:03:54,600 --> 00:03:57,680 It will help manage people's mental health 45 00:03:57,880 --> 00:04:00,320 through technology, community and services. 46 00:04:00,400 --> 00:04:03,640 Because everyone has the right to live peacefully. 47 00:04:03,760 --> 00:04:05,040 Our device is ready. 48 00:04:05,120 --> 00:04:07,160 And it will be launched in the market soon. 49 00:04:13,200 --> 00:04:15,920 So, Sharks, join us in our journey. 50 00:04:18,280 --> 00:04:20,920 easy, smart and accessible to India. 51 00:04:30,720 --> 00:04:33,240 What this EEG is currently showing you is 52 00:04:33,320 --> 00:04:36,400 that it seems that Animesh is sort of nervous. 53 00:04:36,560 --> 00:04:37,800 What's happening? 54 00:04:37,880 --> 00:04:39,120 [laughing] 55 00:04:39,360 --> 00:04:40,720 - Are you comfortable? - Hmm! 56 00:04:40,880 --> 00:04:43,480 We will start a ten-minute InnerGize session 57 00:04:44,000 --> 00:04:45,680 and then demonstrate 58 00:04:46,160 --> 00:04:48,640 how he feels after the session. 59 00:04:48,840 --> 00:04:50,800 - The waves won't be sharp. - Yes. 60 00:04:50,880 --> 00:04:52,320 - If someone is calm. - Exactly. 61 00:04:52,640 --> 00:04:55,680 There are two types of nervous systems in your body. 62 00:04:56,000 --> 00:04:57,520 In the autonomic nervous system, 63 00:04:57,600 --> 00:04:59,200 you have the sympathetic nervous system 64 00:05:07,880 --> 00:05:10,680 Now the good part is that your body is made in a manner where 65 00:05:10,760 --> 00:05:12,720 the sympathetic nervous system and the parasympathetic nervous system 66 00:05:12,840 --> 00:05:14,920 maintain equilibrium. 67 00:05:15,040 --> 00:05:18,040 Up until 50 years ago, these systems were very active. 68 00:05:18,920 --> 00:05:20,040 In today's day and age, 69 00:05:20,120 --> 00:05:23,520 there is so much stimulus around you and tension 70 00:05:23,600 --> 00:05:25,720 that your body has sort of forgotten 71 00:05:25,920 --> 00:05:28,520 how the parasympathetic nervous system 72 00:05:28,920 --> 00:05:30,480 can bring you back to equilibrium. 73 00:05:30,680 --> 00:05:32,000 Our job is to get it back. 74 00:05:32,120 --> 00:05:34,880 We will place InnerGize behind Animesh's ear. 75 00:05:36,480 --> 00:05:39,280 How do you know Animesh? 76 00:05:46,240 --> 00:05:47,640 Yesterday, I told them 77 00:05:47,760 --> 00:05:49,560 that I am stressed, so we should go party. 78 00:05:49,760 --> 00:05:51,000 And they made me sit here. 79 00:05:51,080 --> 00:05:52,800 [laughing] 80 00:05:54,360 --> 00:05:57,080 You need to stay away from such friends. 81 00:05:57,360 --> 00:05:58,640 We've started the session. 82 00:05:58,720 --> 00:06:00,480 Now, we can continue for 10-15 minutes. 83 00:06:00,560 --> 00:06:02,640 After that, we will check the EEG and the results. 84 00:06:02,760 --> 00:06:05,560 So, Siddhant, Shalmali and Mitansh. 85 00:06:05,640 --> 00:06:06,560 - Yes, sir. - Yes! 86 00:06:06,640 --> 00:06:07,760 Welcome to Shark Tank! 87 00:06:07,840 --> 00:06:08,960 - Thank you so much! - Thank you! 88 00:06:09,040 --> 00:06:10,600 This is an interesting product. 89 00:06:10,680 --> 00:06:12,000 Tell us about yourself. 90 00:06:12,080 --> 00:06:14,600 What has your journey been like individually? 91 00:06:14,680 --> 00:06:16,720 How do you know each other? 92 00:06:16,800 --> 00:06:17,800 I am 30 years old. 93 00:06:17,880 --> 00:06:19,640 I was born and raised in Mumbai. 94 00:06:19,760 --> 00:06:22,280 Now, all of us live in Delhi, because we run InnerGize there. 95 00:06:22,680 --> 00:06:25,400 So, I finished my MBBS in 2017. 96 00:06:25,640 --> 00:06:28,000 After my MBBS, I started my first startup 97 00:06:28,080 --> 00:06:29,400 called Food Darzee. 98 00:06:35,640 --> 00:06:37,960 I completed my MBBS from Nair Hospital, Mumbai. 99 00:06:44,160 --> 00:06:45,600 Unfortunately, 100 00:06:45,680 --> 00:06:47,800 - I couldn't continue as a doctor. - Why not? 101 00:06:47,880 --> 00:06:49,800 At the age of 20, I was diagnosed 102 00:07:02,240 --> 00:07:04,520 - Should I tell them everything? - Go for it. 103 00:07:05,520 --> 00:07:07,320 Liver inflammations, kidney inflammations. 104 00:07:07,400 --> 00:07:09,880 I couldn't breathe because there's something called costochondritis. 105 00:07:09,960 --> 00:07:11,360 My entire body is inflamed. 106 00:07:11,480 --> 00:07:13,160 My body has lost the ability to distinguish 107 00:07:13,640 --> 00:07:15,120 between what is self 108 00:07:15,400 --> 00:07:16,800 and what is an infection. 109 00:07:16,880 --> 00:07:19,920 So, it starts attacking everything. 110 00:07:20,560 --> 00:07:23,320 So, I started to look like an alien. 111 00:07:23,440 --> 00:07:24,680 Whenever I would go to the railway station, 112 00:07:24,760 --> 00:07:26,760 a child asks his mother, 113 00:07:26,840 --> 00:07:28,120 'What is that, Mom?' 114 00:07:28,280 --> 00:07:31,040 Instead of 'who he is?' That's fine. 115 00:07:31,160 --> 00:07:33,720 I was going through a bad stage at that point. 116 00:07:33,960 --> 00:07:36,040 Back then, I used to 117 00:07:36,160 --> 00:07:37,840 take 1500 mg of steroids daily, 118 00:07:37,920 --> 00:07:42,280 whereas normal people take far less. 119 00:07:42,600 --> 00:07:45,400 There was always a fear that the disease 120 00:07:45,680 --> 00:07:47,040 of the patient sitting in front of me might affect me. 121 00:07:47,440 --> 00:07:49,720 Because I am accountable for compromising my own immunity. 122 00:07:49,920 --> 00:07:51,000 My life had been completely transformed. 123 00:07:51,080 --> 00:07:53,080 - Is lupus curable? - No. 124 00:07:53,280 --> 00:07:54,960 - Do you still take steroids? - Yes. 125 00:07:55,120 --> 00:07:56,920 I am down to a normal dose. 126 00:08:00,280 --> 00:08:02,840 - You'll be an inspiration for so many people who'll watch. - Thanks. 127 00:08:05,360 --> 00:08:07,040 Sir, it took time to get out of it. 128 00:08:07,120 --> 00:08:09,280 Luckily, I was in the right place at the right time 129 00:08:09,360 --> 00:08:11,120 and with the right people. And Food Darzee started. 130 00:08:11,200 --> 00:08:13,480 Gradually, I became a celebrity nutritionist. 131 00:08:13,600 --> 00:08:15,040 - Yes. - I was on a great high. 132 00:08:15,240 --> 00:08:16,440 But now, the problem was 133 00:08:16,600 --> 00:08:17,960 that Food Darzee didn't stem 134 00:08:18,040 --> 00:08:20,160 from my passion for entrepreneurship for me. 135 00:08:20,240 --> 00:08:21,280 It was an escape route. 136 00:08:21,840 --> 00:08:23,240 Now what happened is that 137 00:08:23,480 --> 00:08:24,680 four years ago, 138 00:08:24,840 --> 00:08:27,000 I got diagnosed with Stage 2 thyroid cancer. 139 00:08:33,320 --> 00:08:34,360 I was 26. 140 00:08:34,480 --> 00:08:37,080 - 22, 26, 30. - I have goosebumps. 141 00:08:37,240 --> 00:08:39,800 Again, I am saying it with a smile because I don't remember 142 00:08:39,880 --> 00:08:41,960 much of it. It was a phase for me, it passed. 143 00:08:42,120 --> 00:08:44,560 And I believe in the concept that 'This too shall pass.' 144 00:08:44,720 --> 00:08:46,200 All you have to do is believe. 145 00:08:46,840 --> 00:08:48,720 - Was the cancer cured? - No! 146 00:08:48,920 --> 00:08:50,240 It is still there slightly. 147 00:08:50,440 --> 00:08:53,000 But it's at a stage where you can't operate on it. 148 00:08:53,080 --> 00:08:54,680 So, it's a wait-and-watch game. 149 00:08:55,000 --> 00:08:57,160 I am completely healthy right now. No issues with it. 150 00:08:57,760 --> 00:08:59,200 I quit Food Darzee 151 00:08:59,520 --> 00:09:00,960 when Shalmali and I 152 00:09:01,360 --> 00:09:03,200 met in Visakhapatnam 153 00:09:03,280 --> 00:09:05,680 in 2022 around July and August. 154 00:09:05,760 --> 00:09:08,440 Sharks, we met at a startup pitching event. 155 00:09:08,680 --> 00:09:11,080 Siddhant was there as a guest speaker 156 00:09:11,280 --> 00:09:13,160 because Food Darzee was running successfully. 157 00:09:13,400 --> 00:09:14,720 I studied engineering 158 00:09:14,800 --> 00:09:16,520 in instrumentation and control engineering 159 00:09:16,600 --> 00:09:18,680 from Cummins College of Engineering for Women, Pune. 160 00:09:24,400 --> 00:09:27,320 Half of my family had contracted Covid. 161 00:09:27,560 --> 00:09:29,920 Unfortunately, we lost our grandfather. 162 00:09:30,560 --> 00:09:31,760 - Sorry! - And then, 163 00:09:32,000 --> 00:09:33,520 there was too much... 164 00:09:33,840 --> 00:09:34,760 I mean... 165 00:09:35,160 --> 00:09:37,280 This caused mental stress. 166 00:09:37,640 --> 00:09:39,280 My dad suffers from diabetes 167 00:09:39,360 --> 00:09:41,840 and my aunt has hypertension. 168 00:09:42,360 --> 00:09:46,040 I could see that their blood glucose was going up due to stress. 169 00:09:46,120 --> 00:09:47,360 I felt so helpless 170 00:09:47,480 --> 00:09:49,800 that I was unable to do anything for them. 171 00:09:50,040 --> 00:09:52,080 There has to be a solution 172 00:09:52,360 --> 00:09:54,880 that is non-invasive and without side effects. 173 00:09:55,120 --> 00:09:56,520 Since then, it has always been on my mind. 174 00:09:56,880 --> 00:09:59,800 I met Mitansh in the second competition. 175 00:10:00,280 --> 00:10:02,400 Mitansh was still a student there. 176 00:10:02,560 --> 00:10:03,880 We started 177 00:10:04,040 --> 00:10:05,800 and decided to work on a wearable device. 178 00:10:05,960 --> 00:10:08,280 We did our research and spoke with doctors. 179 00:10:08,520 --> 00:10:10,520 Exactly a year ago, 180 00:10:10,640 --> 00:10:12,600 I fell unwell. 181 00:10:12,760 --> 00:10:15,400 I got admitted to the hospital and I found out 182 00:10:23,400 --> 00:10:24,480 This is a lifelong condition. 183 00:10:24,600 --> 00:10:26,640 And all of that is linked to stress. 184 00:10:26,800 --> 00:10:28,560 Every doctor or rheumatologist 185 00:10:28,640 --> 00:10:30,320 you visit will tell you 186 00:10:30,400 --> 00:10:32,880 that the single most common precipitating factor 187 00:10:33,040 --> 00:10:35,320 of any autoimmunity is stress. 188 00:10:35,560 --> 00:10:37,040 So, we decided that we needed to solve this. 189 00:10:37,160 --> 00:10:39,160 Because it's personal for both of us. 190 00:10:39,320 --> 00:10:40,240 Hmm! 191 00:10:40,360 --> 00:10:41,880 I am the youngest of the lot. 192 00:10:42,080 --> 00:10:43,400 I graduated last year. 193 00:10:43,480 --> 00:10:45,960 I am a gold medallist in Mathematics and Computing 194 00:10:52,600 --> 00:10:56,120 I met Shalmali in 2022. 195 00:10:56,320 --> 00:10:59,320 - Back then they... - What were you doing at the conference? 196 00:10:59,680 --> 00:11:00,640 I was in the hackathon. 197 00:11:00,640 --> 00:11:02,640 So, it was a competition and I was participating 198 00:11:02,720 --> 00:11:03,920 - in a hackathon. - You met there. 199 00:11:04,360 --> 00:11:05,640 Shall we see the demo? 200 00:11:05,720 --> 00:11:06,680 - Yes! - Yes. 201 00:11:12,920 --> 00:11:15,520 I've been using this for some time. 202 00:11:43,800 --> 00:11:45,400 The graphs have 203 00:11:45,480 --> 00:11:47,600 - visibly flatlined. - Graphs have also changed. 204 00:11:47,960 --> 00:11:50,240 - Almost. - And this while he talking to you. 205 00:11:50,360 --> 00:11:53,440 So, this is visible objective proof 206 00:11:53,520 --> 00:11:55,160 that my device works. 207 00:11:55,280 --> 00:11:56,360 Now you can go party. 208 00:11:56,480 --> 00:11:57,480 - Yes. - Take him today. 209 00:11:57,960 --> 00:11:58,840 See you. 210 00:11:58,920 --> 00:12:00,120 - Thank you, Animesh. - Bye, Animesh. 211 00:12:00,200 --> 00:12:01,400 - Thank you! - Bye! 212 00:12:01,480 --> 00:12:02,680 Thank you. 213 00:12:03,000 --> 00:12:04,640 [music playing] 214 00:12:08,360 --> 00:12:09,720 There is a box inside this, right? 215 00:12:10,040 --> 00:12:11,880 There is a box inside this. There is a device in it. 216 00:12:11,960 --> 00:12:13,120 We like gifts. 217 00:12:13,280 --> 00:12:15,280 Actually, the unboxing experience is quite nice. 218 00:12:15,440 --> 00:12:17,760 Very nice device. 219 00:12:17,840 --> 00:12:19,520 Is this the device? 220 00:12:19,720 --> 00:12:20,720 Right? 221 00:12:20,880 --> 00:12:22,960 - And what is this? - The charger. 222 00:12:23,080 --> 00:12:25,160 Just like you put earphones in a charging case, 223 00:12:25,320 --> 00:12:27,240 similarly, this case is to carry. 224 00:12:27,320 --> 00:12:29,600 Stress has many forms, right? 225 00:12:29,680 --> 00:12:32,160 - Absolutely! - Your cortisol level goes up. 226 00:12:32,280 --> 00:12:34,400 Breathing! So, that's respiratory. 227 00:12:34,480 --> 00:12:37,120 So, does stimulating the vagus nerve 228 00:12:37,400 --> 00:12:41,000 solve all the outcomes of stress? 229 00:12:49,440 --> 00:12:51,760 ...in moments of panic or when feeling nervous 230 00:12:51,880 --> 00:12:54,400 before appearing on Shark Tank. 231 00:12:54,640 --> 00:12:57,760 What you are talking about is chronic stress. 232 00:12:57,920 --> 00:12:59,800 And we will be helping with that too 233 00:12:59,880 --> 00:13:01,720 by training the vagus nerve 234 00:13:01,960 --> 00:13:04,880 to be able to stimulate the parasympathetic nervous system. 235 00:13:13,440 --> 00:13:15,040 I talk about very basic things. 236 00:13:15,120 --> 00:13:17,320 I was weak at science. Okay? 237 00:13:21,960 --> 00:13:24,320 If I am too stressed, I ask someone to give me a massage. 238 00:13:24,400 --> 00:13:27,600 There is that head massage thing you get. Even that... 239 00:13:28,120 --> 00:13:30,920 They do similar things. 240 00:13:31,080 --> 00:13:33,000 The outcome is similar. 241 00:13:33,160 --> 00:13:34,160 But how is it effective? 242 00:13:34,240 --> 00:13:36,320 Number one, we are a convenient solution, 243 00:13:36,560 --> 00:13:37,800 whenever you feel stressed, 244 00:13:37,880 --> 00:13:40,040 you won't have to go for a head massage. 245 00:13:40,280 --> 00:13:41,600 But is this a head massaging device? 246 00:13:41,680 --> 00:13:43,320 - No! - Medical head massage tool. 247 00:13:43,640 --> 00:13:45,240 Yes! 248 00:13:45,320 --> 00:13:46,840 Medical head massage tool is a good word for it. 249 00:13:47,000 --> 00:13:48,360 - Rebranding! - Rebranding! 250 00:13:48,680 --> 00:13:50,400 What is your recommended usage? 251 00:13:50,600 --> 00:13:52,240 10-minute sessions per day, 252 00:13:52,360 --> 00:13:53,280 2-4 times. 253 00:13:56,600 --> 00:13:58,920 It needs to be measured. If someone uses it for a week 254 00:14:05,000 --> 00:14:06,800 ...after using this for at least one week, 255 00:14:07,080 --> 00:14:09,760 you have significantly already started feeling better. 256 00:14:09,840 --> 00:14:11,680 Hold on! Is this safe? 257 00:14:14,280 --> 00:14:15,600 - 100% safe. - Yes. 258 00:14:15,760 --> 00:14:17,760 - How? - Over 5,000 peer-reviewed studies 259 00:14:46,480 --> 00:14:48,120 Vagus nerve stimulation 260 00:14:48,200 --> 00:14:50,840 has been in use by doctors and others worldwide for over 30 years. 261 00:14:56,000 --> 00:14:57,720 What are the other types of form factors? 262 00:14:57,840 --> 00:14:59,320 - You made the one that's easy to integrate. - Yes. 263 00:14:59,440 --> 00:15:00,280 How was it earlier? 264 00:15:00,360 --> 00:15:02,760 There is a company called gammaCore 265 00:15:02,880 --> 00:15:04,720 in the American hemisphere. 266 00:15:04,880 --> 00:15:06,920 They have been operating for approximately the past 9 years. 267 00:15:07,000 --> 00:15:09,280 They generate a revenue of around 24 million dollars. 268 00:15:09,640 --> 00:15:11,160 They are a vagus nerve stimulator 269 00:15:11,280 --> 00:15:13,920 only targetting migraines and cluster headaches. 270 00:15:14,320 --> 00:15:16,520 So, their device 271 00:15:16,760 --> 00:15:18,480 is this big and maybe longer. 272 00:15:19,000 --> 00:15:21,120 You have to apply hydrogel to your neck. 273 00:15:21,200 --> 00:15:23,400 - The gel that's applied while performing sonography. - Correct. 274 00:15:23,480 --> 00:15:24,920 - You apply that gel first. - It's sticky. 275 00:15:25,240 --> 00:15:29,320 And then you have to do this to stimulate that nerve. 276 00:15:29,800 --> 00:15:31,880 This device is bulky but effective. 277 00:15:38,640 --> 00:15:40,960 gammaCore is an FDA-approved product. 278 00:15:41,040 --> 00:15:43,200 You need a prescription to get it. 279 00:15:43,280 --> 00:15:44,680 - Because it's a clinical symptom. - Yes! 280 00:15:44,800 --> 00:15:46,440 - A prescription is required. - This is the biggest deterrent. 281 00:15:46,560 --> 00:15:49,840 I don't get it. If they are working on the same nerve, 282 00:15:49,920 --> 00:15:51,080 and they require a prescription, 283 00:15:51,160 --> 00:15:52,680 won't it eventually be the same case in India? 284 00:15:52,800 --> 00:15:55,480 - No! - No. They want to be prescription-based. 285 00:15:55,560 --> 00:15:57,600 Because a migraine is not like a headache. 286 00:15:57,720 --> 00:15:59,120 Migraine needs to be diagnosed. 287 00:15:59,240 --> 00:16:00,520 They are targeting migraines, 288 00:16:00,600 --> 00:16:01,760 so a prescription from a doctor is required. 289 00:16:01,960 --> 00:16:03,000 Then comes the cost. 290 00:16:03,120 --> 00:16:05,240 - How much does it cost? - It is almost $600 291 00:16:05,360 --> 00:16:06,360 for every month. 292 00:16:06,440 --> 00:16:08,200 So, they have a subscription model. 293 00:16:08,360 --> 00:16:10,840 I have a question. Where does your business stand now? 294 00:16:10,960 --> 00:16:13,720 Answer whatever questions you think we might ask on your own. 295 00:16:13,840 --> 00:16:15,720 - Pricing too. - Share the pricing, 296 00:16:15,800 --> 00:16:17,280 equity, investors 297 00:16:17,360 --> 00:16:18,920 - and where you are at. - Okay, done. 298 00:16:19,000 --> 00:16:21,600 Each of us has 33% equity. 299 00:16:21,680 --> 00:16:23,960 Investments, we raised a total of Rs. 2 crores. 300 00:16:31,800 --> 00:16:32,800 ...which is Rs. 4 crores. 301 00:16:32,880 --> 00:16:35,200 Our post-money valuation is Rs. 36 crores. 302 00:16:35,320 --> 00:16:36,600 Antler is leading the round, 303 00:16:36,680 --> 00:16:38,800 with H&I and super angels coming in as well. 304 00:16:38,880 --> 00:16:40,840 Somebody like Arjun Vaidya is putting in money. 305 00:16:41,000 --> 00:16:42,400 Finance With Sharan is putting in money. 306 00:16:42,560 --> 00:16:44,120 Alia Bhatt wants to invest. 307 00:16:44,320 --> 00:16:47,040 So, the access is there and my round is almost complete. 308 00:16:47,280 --> 00:16:49,920 The remaining amount is exactly what my ask is. 309 00:16:50,000 --> 00:16:52,480 Thank you for bringing this small ask for us also. 310 00:16:52,560 --> 00:16:53,640 Because we are five Sharks. 311 00:16:53,800 --> 00:16:54,720 [laughing] 312 00:16:55,000 --> 00:16:56,720 And you are asking Rs. 54 lakhs from us. 313 00:16:56,880 --> 00:16:57,720 Where does your business stand? 314 00:17:10,120 --> 00:17:12,720 I don't think my CAC will be very low 315 00:17:12,800 --> 00:17:15,040 if I start spending money on marketing. 316 00:17:15,280 --> 00:17:16,200 How will you make your business? 317 00:17:16,280 --> 00:17:18,440 Our product retails for Rs. 5,000. 318 00:17:18,760 --> 00:17:20,640 Our price point is set in such a way 319 00:17:20,720 --> 00:17:23,360 that an individual who shops at H&M, 320 00:17:23,640 --> 00:17:24,800 after understanding the benefits, 321 00:17:24,920 --> 00:17:25,920 can afford to buy this product. 322 00:17:26,000 --> 00:17:28,640 In the startup pack, you get a device, 323 00:17:28,760 --> 00:17:29,720 a charger, 324 00:17:29,840 --> 00:17:31,040 and the patches 325 00:17:31,120 --> 00:17:32,440 that connect to it. 326 00:17:32,760 --> 00:17:34,040 You will receive 12 patches in total. 327 00:17:38,640 --> 00:17:39,440 ...for Rs. 500. 328 00:17:39,720 --> 00:17:40,800 And this is recurring revenue. 329 00:17:43,760 --> 00:17:45,720 What is your B2B revenue model? 330 00:18:13,680 --> 00:18:16,760 I think stress as an opportunity to solve a problem 331 00:18:16,840 --> 00:18:18,160 - is a huge mission. - Yes. 332 00:18:18,480 --> 00:18:19,800 Which is why 333 00:18:20,320 --> 00:18:22,280 I am willing to support you. 334 00:18:22,360 --> 00:18:23,960 Rs. 54 lakhs for 1.5%. 335 00:18:28,120 --> 00:18:31,160 So, Siddhant, Shalmali and Mitansh. 336 00:18:31,520 --> 00:18:33,680 - It was a pleasure meeting all of you. - Thank you, sir. 337 00:18:33,920 --> 00:18:36,720 Whenever I meet a founder 338 00:18:36,800 --> 00:18:39,000 or the founding team, for the first ten minutes 339 00:18:39,280 --> 00:18:41,040 I assess what their 340 00:18:41,120 --> 00:18:42,560 superpower is. 341 00:18:43,000 --> 00:18:44,400 Actually, you don't need it. 342 00:18:44,480 --> 00:18:46,720 I believe you are blessed by God. 343 00:18:48,480 --> 00:18:51,120 - God has a plan for you, my friend. - Thank you! 344 00:18:51,240 --> 00:18:52,840 That I am very sure of. 345 00:18:53,680 --> 00:18:55,080 With respect to InnerGize, 346 00:18:55,160 --> 00:18:56,760 it seems too early. 347 00:18:56,840 --> 00:18:58,520 I am unable 348 00:18:58,800 --> 00:19:00,920 to clearly articulate 349 00:19:01,200 --> 00:19:03,880 where it fits into a customer's life. 350 00:19:04,960 --> 00:19:06,960 Once this is launched, 351 00:19:07,040 --> 00:19:10,880 it will help clarify the pricing, 352 00:19:10,960 --> 00:19:12,840 the frequency of usage, 353 00:19:12,920 --> 00:19:16,040 and how customer churn will be managed. 354 00:19:16,120 --> 00:19:18,640 Because in medical devices 355 00:19:18,720 --> 00:19:21,200 such as CGMs and all, the churn is high. 356 00:19:22,520 --> 00:19:25,240 Customer churn happens when customers stop using 357 00:19:25,320 --> 00:19:29,200 a product or service offered by a business. 358 00:19:29,320 --> 00:19:32,360 For instance, a gym with 100 members 359 00:19:32,440 --> 00:19:35,680 might experience a 10% churn rate 360 00:19:35,920 --> 00:19:38,920 if 10 members cancel their membership. 361 00:19:39,360 --> 00:19:42,000 This could be due to factors like subpar service, 362 00:19:42,160 --> 00:19:44,720 high prices, increased competition, 363 00:19:44,880 --> 00:19:46,960 or the customer's preferences changes. 364 00:19:47,200 --> 00:19:48,840 For any business, 365 00:19:48,920 --> 00:19:52,640 it’s crucial to keep the churn rate low 366 00:19:52,880 --> 00:19:55,520 because acquiring new customers 367 00:19:55,640 --> 00:19:59,000 is 5 to 10 times more expensive than retaining existing ones. 368 00:19:59,960 --> 00:20:01,840 As this business is still in the pre-launch stage, 369 00:20:02,120 --> 00:20:04,520 it could either be successful or face significant challenges. 370 00:20:04,640 --> 00:20:08,120 And nobody knows that. If it does what you claim it does, 371 00:20:08,280 --> 00:20:09,920 then it could be a really good, 372 00:20:10,160 --> 00:20:12,160 - groundbreaking business. - Thank you so much. 373 00:20:12,240 --> 00:20:13,960 - Thank you, sir. - But today I am out. Wish you all the best. 374 00:20:14,040 --> 00:20:15,640 - Thank you so much, sir. - Thank you. 375 00:20:15,760 --> 00:20:18,640 This is a very large problem. There are a lot of... 376 00:20:19,080 --> 00:20:22,320 A lot of people are working on solving it in different ways. 377 00:20:22,760 --> 00:20:25,280 I don't know which way will work. 378 00:20:25,440 --> 00:20:28,000 At this moment, it's hard 379 00:20:28,200 --> 00:20:30,840 to determine whether this is simply another feel-good device 380 00:20:31,160 --> 00:20:33,080 or if it truly is a life-changing 381 00:20:33,160 --> 00:20:35,080 and the best solution ever. 382 00:20:35,400 --> 00:20:37,240 So, it is too early now. 383 00:20:37,320 --> 00:20:39,480 Also, you have a fantastic offer and a partner. 384 00:20:39,560 --> 00:20:41,520 So, I'll wish you the best and I am out. 385 00:20:41,760 --> 00:20:43,320 - Thank you so much. - Thanks. 386 00:20:43,960 --> 00:20:45,920 As everyone has pointed out, your positivity 387 00:20:47,280 --> 00:20:49,160 and optimism is what makes you an inspiration. 388 00:20:49,280 --> 00:20:50,920 Wearables! 389 00:20:51,400 --> 00:20:53,440 You know, I can talk wearables, I can walk wearables. 390 00:20:53,520 --> 00:20:56,200 Wearables are always on the back of my hand. I am good at it. 391 00:20:56,680 --> 00:20:59,160 - I can bring an outside-in perspective. - Yes. 392 00:20:59,280 --> 00:21:00,160 - Okay? - Yes. 393 00:21:00,280 --> 00:21:02,920 Namita and I have an offer for you. 394 00:21:04,720 --> 00:21:06,080 I will bring Namita too. 395 00:21:06,160 --> 00:21:08,440 She will assist in the medical field. 396 00:21:08,960 --> 00:21:11,760 So, I would go for Rs. 54 lakhs for 2.5%. 397 00:21:11,920 --> 00:21:13,880 Thank you, Aman and Namita, for the offer. 398 00:21:13,960 --> 00:21:15,160 [laughing] 399 00:21:15,320 --> 00:21:17,120 Namita will join me as well. 400 00:21:18,040 --> 00:21:19,240 We would love that. 401 00:21:19,400 --> 00:21:22,160 First of all, I will rank all three of you founders 402 00:21:22,240 --> 00:21:24,920 on the positive side. 403 00:21:25,280 --> 00:21:27,160 The problem you are trying to address 404 00:21:27,240 --> 00:21:28,840 is a significant one. 405 00:21:28,960 --> 00:21:31,440 I would like to take a bet on you too. 406 00:21:33,120 --> 00:21:35,880 My offer will be the same as your ask. 407 00:21:35,960 --> 00:21:37,720 Rs. 54 lakhs for 1.5%. 408 00:21:38,040 --> 00:21:40,160 - Thank you so much. - You have three offers. 409 00:21:40,440 --> 00:21:43,200 - Give us two minutes. - Give it a thought. 410 00:21:43,320 --> 00:21:45,000 - Thank you so much, Sharks. - Thank you so much. 411 00:21:45,880 --> 00:21:47,400 Good job, guys. 412 00:21:48,880 --> 00:21:50,600 See, I am honestly good with taking 413 00:21:50,720 --> 00:21:53,200 - Ritesh and Azhar's money. - Okay. 414 00:21:53,280 --> 00:21:55,360 Before they say anything, we will tell them that we have an offer. 415 00:21:55,480 --> 00:21:57,280 Don't you think the percentage is low? 416 00:21:57,400 --> 00:21:59,120 Here, getting your foot in the door is valuable. 417 00:21:59,200 --> 00:22:00,720 They are getting many investors. 418 00:22:00,880 --> 00:22:02,280 I think they will take the best valuation. 419 00:22:02,400 --> 00:22:03,280 Win based on the pricing. 420 00:22:03,360 --> 00:22:05,320 Give them a deal that they can't refuse. 421 00:22:05,600 --> 00:22:06,840 [music playing] 422 00:22:07,400 --> 00:22:08,560 Welcome back. 423 00:22:08,640 --> 00:22:09,760 - Thank you! - Thank you! 424 00:22:09,840 --> 00:22:11,720 - What have you decided? - Okay... 425 00:22:11,960 --> 00:22:14,560 - Ritesh, were you saying something? - I wanted to tell you that 426 00:22:14,680 --> 00:22:17,560 - we would like to give you a deal together, Dr. Siddhant. - Okay. 427 00:22:17,640 --> 00:22:19,920 And the deal is Rs. 75 lakhs 428 00:22:20,080 --> 00:22:21,240 for 3%. 429 00:22:39,240 --> 00:22:41,000 We can talk about that later. 430 00:22:41,080 --> 00:22:42,840 Right now... 431 00:22:43,680 --> 00:22:46,160 If you want the Sharks now, then all three Sharks will come together. 432 00:22:46,240 --> 00:22:47,960 Rs. 1 crore for 4.5%. 433 00:22:48,120 --> 00:22:49,640 [intense music playing] 434 00:22:50,440 --> 00:22:51,320 Oh! 435 00:22:51,400 --> 00:22:55,160 In our opinion, it is a little low. 436 00:22:55,600 --> 00:22:57,320 We want to support you. 437 00:22:57,400 --> 00:23:00,280 If you think the Sharks won't bring anything to the table... 438 00:23:00,360 --> 00:23:02,360 I was giving you a lot at the start. I was giving 2.5%. 439 00:23:03,040 --> 00:23:05,520 Let's increase the valuation and mention advisory. 440 00:23:05,600 --> 00:23:07,040 I have a counteroffer. 441 00:23:07,720 --> 00:23:10,600 3% for Rs. 90 lakhs. 442 00:23:11,000 --> 00:23:12,240 That's one offer. 443 00:23:12,520 --> 00:23:13,760 The second counter would be 444 00:23:13,840 --> 00:23:16,200 Rs. 54 lakhs at 1.5%. 445 00:23:16,360 --> 00:23:18,000 You can share that deal 446 00:23:18,160 --> 00:23:19,520 and I will be able to give you 447 00:23:19,600 --> 00:23:21,320 a discount in the next fundraising round. 448 00:23:21,400 --> 00:23:22,720 No! Reject! 449 00:23:24,120 --> 00:23:25,480 Third counter-offer. 450 00:23:25,640 --> 00:23:27,560 Maintain my valuation 451 00:23:27,880 --> 00:23:30,240 and we can talk about an advisory 452 00:23:30,320 --> 00:23:32,080 that will come from our pool of three founders, 453 00:23:32,160 --> 00:23:33,600 - as we value you as Sharks. - That's fine. 454 00:23:33,680 --> 00:23:35,480 Exactly! If you value us, this is the only deal we have. 455 00:23:36,680 --> 00:23:39,320 Rs. 1 crore for 4.5%. 456 00:23:39,520 --> 00:23:41,760 - We'll agree on 3.75% - 3.75%. Yeah! 457 00:23:42,040 --> 00:23:44,680 Okay, let's meet in the middle at Rs. 4.45%. 458 00:23:45,080 --> 00:23:45,880 [laughing] 459 00:23:46,120 --> 00:23:47,600 Sir, we had 1.5% in mind. 460 00:23:47,680 --> 00:23:49,440 You are quoting 4.5%. 461 00:23:49,720 --> 00:23:50,560 A little! 462 00:23:50,600 --> 00:23:51,960 Okay, Rs. 1 crore... Just to 463 00:23:52,080 --> 00:23:54,000 respect you guys. Since you are insisting. 464 00:23:54,080 --> 00:23:58,080 So, Rs. 1 crore for 4.3%, 465 00:23:58,200 --> 00:23:59,480 three Sharks together. 466 00:23:59,600 --> 00:24:01,400 Let's make it 4.2%. It will be 1.4% each. 467 00:24:05,440 --> 00:24:06,480 - Deal accepted! - Deal accepted! 468 00:24:11,000 --> 00:24:12,080 Keep the positivity high. 469 00:24:12,160 --> 00:24:13,120 - Thank you! - Nice to meet you. 470 00:24:13,200 --> 00:24:14,680 - Congratulations. - Thanks. 471 00:24:15,120 --> 00:24:16,600 [music playing] 472 00:24:34,120 --> 00:24:36,000 Welcome to ACKO Changemakers, 473 00:24:36,080 --> 00:24:37,600 where we really welcome change. 474 00:24:37,760 --> 00:24:41,520 And it has been beautifully portrayed here 475 00:24:41,920 --> 00:24:44,120 behind me on this changemaker wall. 476 00:24:44,400 --> 00:24:46,040 We are creating a digitally empowered future 477 00:24:46,120 --> 00:24:48,760 through innovation and connectivity. 478 00:24:48,880 --> 00:24:52,360 And our today's changemakers are Team InnerGize. 479 00:24:52,480 --> 00:24:53,520 Welcome, guys! 480 00:24:53,600 --> 00:24:54,560 - Thank you! - Hi! 481 00:24:54,640 --> 00:24:56,600 I am very inspired by you guys. 482 00:24:56,680 --> 00:24:58,680 We make an excuse when we have a cold 483 00:24:58,760 --> 00:25:00,240 or a headache. 484 00:25:00,320 --> 00:25:03,360 But you guys have gone through your share of turmoil as well. 485 00:25:03,440 --> 00:25:06,200 I really want to know, was that your motivation? 486 00:25:10,480 --> 00:25:12,680 Definitely, this was a motivating factor. 487 00:25:12,760 --> 00:25:14,840 Because once you've gone through that experience, 488 00:25:14,920 --> 00:25:16,280 only then do you realise 489 00:25:16,360 --> 00:25:18,160 - the importance of mental health. - Hmm! 490 00:25:18,240 --> 00:25:20,480 Because if your mental health isn't strong, 491 00:25:20,600 --> 00:25:22,720 regardless of any physical limitations, 492 00:25:22,800 --> 00:25:24,960 you won't be able to do what you want to do. 493 00:25:25,040 --> 00:25:26,440 Also, we often don't realise 494 00:25:26,520 --> 00:25:29,160 that physical issues in our body 495 00:25:29,240 --> 00:25:31,160 can also be triggered by stress. 496 00:25:31,240 --> 00:25:33,280 What can we do to identify 497 00:25:33,360 --> 00:25:35,280 if this problem is caused by stress? 498 00:25:35,400 --> 00:25:36,600 Is there a marker for it? 499 00:25:36,720 --> 00:25:38,360 Yes, I think there are simple things. 500 00:25:38,680 --> 00:25:40,560 - Like mood swings. - Hmm! 501 00:25:40,640 --> 00:25:42,640 Getting irritated over petty things. 502 00:25:42,720 --> 00:25:43,960 Unable to sleep at night. 503 00:25:44,040 --> 00:25:45,320 You feel restless. 504 00:25:45,400 --> 00:25:47,480 Feeling tired despite doing nothing. 505 00:25:47,560 --> 00:25:50,560 People believe this is a part of life. 506 00:25:50,680 --> 00:25:52,880 But these are the indicators of mental health. 507 00:25:53,040 --> 00:25:54,480 Amazing! Thank you so much! 508 00:25:54,560 --> 00:25:57,080 You are bringing a change in this industry. 509 00:25:57,160 --> 00:25:59,080 It's a change and a great innovation. 510 00:25:59,160 --> 00:26:00,800 Guys, also, 511 00:26:00,880 --> 00:26:03,520 there is a lot of change happening in the insurance space as well. 512 00:26:03,640 --> 00:26:06,400 ACKO is bringing a change with its revolutionary offering. 513 00:26:06,560 --> 00:26:10,200 Now, when buying a car, you only purchase the car from the showroom 514 00:26:10,400 --> 00:26:12,400 and don't buy car insurance under pressure. 515 00:26:12,600 --> 00:26:13,680 You didn't know that 516 00:26:13,800 --> 00:26:16,080 it's necessary to buy car insurance from the showroom, did you? 517 00:26:16,400 --> 00:26:18,280 Buy a new car insurance from ACKO 518 00:26:18,360 --> 00:26:20,760 and save around Rs. 36,000. 519 00:26:21,000 --> 00:26:22,880 Guys, to celebrate what you're doing, 520 00:26:22,960 --> 00:26:26,240 there is a memento for you from ACKO and Shark Tank. 521 00:26:26,640 --> 00:26:28,040 This is for you. 522 00:26:30,240 --> 00:26:31,440 [camera shutter clicks] 523 00:26:44,640 --> 00:26:46,800 [theme music playing] 524 00:26:55,080 --> 00:26:57,040 [music playing] 525 00:27:03,920 --> 00:27:05,640 [music playing] 526 00:27:10,560 --> 00:27:12,640 Sharks, you must be wondering, 527 00:27:12,880 --> 00:27:14,560 another skincare brand! 528 00:27:14,680 --> 00:27:15,840 [laughing] 529 00:27:16,160 --> 00:27:19,080 Today, we are here to request you, 530 00:27:19,280 --> 00:27:21,160 please don't invest in this business. 531 00:27:22,520 --> 00:27:24,920 After all, what is so special about us? 532 00:27:25,120 --> 00:27:28,920 In the already cluttered and complicated skincare category, 533 00:27:29,160 --> 00:27:30,960 here's another brand. 534 00:27:31,280 --> 00:27:32,720 We are also promising radiant glow 535 00:27:32,800 --> 00:27:35,280 and glass skin. 536 00:27:35,440 --> 00:27:37,680 Our brand's name is Personal Touch Skincare! 537 00:27:39,080 --> 00:27:40,240 Personal Touch Skincare! 538 00:27:40,440 --> 00:27:42,120 It's a lifestyle skincare brand. 539 00:27:57,480 --> 00:27:59,960 ...are not generic or universal. 540 00:28:00,200 --> 00:28:02,280 We are targeting specific concerns 541 00:28:02,440 --> 00:28:04,800 related to Indian skin tone. 542 00:28:13,600 --> 00:28:16,640 Sharks, we are bringing international, 543 00:28:16,720 --> 00:28:19,000 science-backed ingredients from all corners of the world. 544 00:28:32,720 --> 00:28:34,680 ...that our products are effective and potent. 545 00:28:35,000 --> 00:28:37,080 I don't think it's a big deal. 546 00:28:37,480 --> 00:28:39,520 Oh, we forgot to mention 547 00:28:39,760 --> 00:28:42,800 that our product is equally effective on men's skin as well. 548 00:28:42,880 --> 00:28:46,400 Sharks, there is a limit to overachieving too. 549 00:28:46,720 --> 00:28:49,480 Aditi is the one who is overachieving. 550 00:29:00,080 --> 00:29:02,520 Sometimes A Beauty and sometimes J Beauty. 551 00:29:02,640 --> 00:29:05,200 And it turned out to be a stroke of bad luck. 552 00:29:05,520 --> 00:29:08,240 We focused solely on the product 553 00:29:08,440 --> 00:29:10,320 while creating Personal Touch Skincare. 554 00:29:10,560 --> 00:29:13,400 We didn't focus on marketing or waste time. 555 00:29:13,520 --> 00:29:16,560 Now, look at the result. They are everywhere. 556 00:29:24,200 --> 00:29:25,800 And our retention rate 557 00:29:26,040 --> 00:29:27,720 is 57%. 558 00:29:27,840 --> 00:29:29,760 Tell me! What are we here for? 559 00:29:30,080 --> 00:29:32,560 Sharks, we aim to become 560 00:29:32,680 --> 00:29:34,920 the number one skincare brand globally. 561 00:29:35,040 --> 00:29:36,520 Too much pressure. 562 00:29:37,240 --> 00:29:40,960 Sharks, believe us. Don't invest in us. 563 00:29:41,200 --> 00:29:43,240 But if you want to invest, 564 00:29:43,400 --> 00:29:48,680 then Rs. 1.2 crores for 1% equity will work. 565 00:29:49,040 --> 00:29:50,760 Sharks, we believe 566 00:29:51,080 --> 00:29:53,600 that every skin needs a personal touch. 567 00:29:53,920 --> 00:29:55,480 Rest is all on you. 568 00:29:56,240 --> 00:29:57,200 Lovely pitch. 569 00:29:57,280 --> 00:29:58,560 Hello, Sharks. Hello! 570 00:29:58,720 --> 00:30:01,480 - Was it a pitch or anti-pitch? - Anti-pitch. 571 00:30:01,640 --> 00:30:03,760 - It was the best anti-pitch. - Thank you for getting it. 572 00:30:04,240 --> 00:30:05,400 Thank you! 573 00:30:05,560 --> 00:30:08,040 Ashish and Aditi, welcome to Shark Tank. 574 00:30:08,160 --> 00:30:09,360 - Thank you so much. - Thank you! 575 00:30:09,440 --> 00:30:13,920 Tell us about your ordinary business. 576 00:30:14,000 --> 00:30:15,360 And tell us about you too. 577 00:30:15,480 --> 00:30:19,560 I had a strong passion for fashion, luxury, and retail. 578 00:30:19,760 --> 00:30:21,600 So, I studied fashion retail management, 579 00:30:21,680 --> 00:30:25,760 which helps you pursue luxury, retail, fashion, beauty, 580 00:30:25,880 --> 00:30:27,440 and everything. 581 00:30:27,560 --> 00:30:28,880 I did that for four years. 582 00:30:29,000 --> 00:30:32,640 Simultaneously, I completed BCom Honours from Delhi University. 583 00:30:32,720 --> 00:30:35,520 And then while I was at Pearl Academy, 584 00:30:35,640 --> 00:30:38,920 in the fourth semester I got an opportunity 585 00:30:41,040 --> 00:30:43,560 I had someone... They were our clients. 586 00:30:43,640 --> 00:30:45,640 And she used to come there a lot. 587 00:30:45,840 --> 00:30:48,840 I didn't know that she was the Head of HR of Reliance. 588 00:30:49,040 --> 00:30:53,120 She gave me an opportunity to work as a fashion consultant 589 00:30:53,240 --> 00:30:54,480 for Reliance. 590 00:30:54,640 --> 00:30:58,080 I was with Dune London for approximately 6-7 months. 591 00:30:58,240 --> 00:31:00,880 But then I had to move back home. 592 00:31:01,000 --> 00:31:04,960 I started a label for customised Indian wear. 593 00:31:05,040 --> 00:31:06,320 Why did you go to Panipat? 594 00:31:11,520 --> 00:31:13,080 - Are you his older sister? - Yes. 595 00:31:13,200 --> 00:31:14,080 Okay! 596 00:31:14,160 --> 00:31:16,320 - Is your dad fine now? - Yes, he is. 597 00:31:16,440 --> 00:31:17,840 With God's grace, he is fine. 598 00:31:18,200 --> 00:31:20,880 And then I continued my label for around 4 years. 599 00:31:21,000 --> 00:31:24,800 It did well in Panipat, which is a small town. 600 00:31:25,040 --> 00:31:27,200 And then, he will tell you the story. 601 00:31:27,280 --> 00:31:29,520 He has a background in Pharma. 602 00:31:39,080 --> 00:31:41,320 Then I got an opportunity to become 603 00:31:41,400 --> 00:31:43,960 a distributor of a pharmaceutical company. 604 00:31:44,040 --> 00:31:47,040 I entered the pharmaceutical industry in November 2016. 605 00:33:43,440 --> 00:33:44,800 - In December. - Shall we talk about this now? 606 00:33:44,960 --> 00:33:46,920 - Sure, sir! - Show us your product first. 607 00:33:47,520 --> 00:33:48,640 He talks a lot. 608 00:33:49,440 --> 00:33:50,680 'Do you know what happened? What happened?' 609 00:33:50,840 --> 00:33:53,000 - 'It shut down.' - He wants to share the story in detail. 610 00:33:53,120 --> 00:33:54,240 Do you feel the same way? 611 00:33:54,360 --> 00:33:56,760 Sir, people ask us to control him. 612 00:33:57,520 --> 00:33:59,400 - Do you know what happened? - That's why she's the co-founder. 613 00:33:59,840 --> 00:34:02,120 I run, and she grabs me by my collar. 614 00:34:02,200 --> 00:34:04,240 You gave me a towel. Give me something else. 615 00:34:04,360 --> 00:34:05,520 [laughing] 616 00:34:05,840 --> 00:34:07,480 I got something for you. 617 00:34:08,720 --> 00:34:10,080 - Wow! How cute! - This is for you. 618 00:34:10,160 --> 00:34:12,160 Yes! This is our lip balm and lip scrub. 619 00:34:12,240 --> 00:34:13,960 - Oh my God! - We'll talk about it. 620 00:34:14,080 --> 00:34:15,720 It's so cute! 621 00:34:16,320 --> 00:34:17,520 [music playing] 622 00:34:20,360 --> 00:34:21,880 May I tell you both something? 623 00:34:22,000 --> 00:34:23,560 It does have a luxury feel. 624 00:34:23,640 --> 00:34:24,840 - Yeah! - The packaging is impressive. 625 00:34:24,960 --> 00:34:27,360 Very smart in saying 'Not just SPF.' 626 00:34:27,440 --> 00:34:30,160 Yes! Sir, this is at least India's 627 00:34:30,320 --> 00:34:31,800 number one formulation. 628 00:34:32,080 --> 00:34:35,120 - We've incorporated snail mucin in SPF. - Hmm! 629 00:34:46,200 --> 00:34:49,480 Its USP is that if you try it on, 630 00:34:49,680 --> 00:34:51,760 it will absorb very quickly. 631 00:34:51,840 --> 00:34:54,880 Your packaging is premium. So, now tell us the pricing. 632 00:34:54,960 --> 00:34:57,000 - This is for Rs. 2,000. It's luxury. - What is the range? 633 00:34:57,080 --> 00:34:59,000 - Affordable luxury. - Rs. 1,599. 634 00:34:59,120 --> 00:35:00,560 Affordable luxury or pure luxury? 635 00:35:00,640 --> 00:35:04,080 - In India, mass sunscreen retails at around Rs. 400. - Rs. 400. 636 00:35:04,160 --> 00:35:06,640 - Yes. - If you want a premium product, 637 00:35:06,720 --> 00:35:09,520 it's for around Rs. 500-Rs. 600. Anything above Rs. 1,000 is luxury. 638 00:35:09,600 --> 00:35:11,520 - That's India's market. - So, it's luxury. 639 00:35:11,800 --> 00:35:13,720 - Ashish and Aditi! - Yes. 640 00:35:13,840 --> 00:35:15,960 - Are you manufacturing it? - No, sir. 641 00:35:16,160 --> 00:35:17,080 Why did you mention that 642 00:35:17,200 --> 00:35:19,400 it's manufactured by Personal Touch Skincare? 643 00:35:20,960 --> 00:35:23,920 Sir, we've secured our formulations. 644 00:35:31,440 --> 00:35:33,080 But who makes these formulations? 645 00:35:33,240 --> 00:35:34,840 My cousin's plant is in Baddi. 646 00:35:43,440 --> 00:35:44,600 that you have bathrobes. 647 00:35:44,680 --> 00:35:47,560 Can you explain the logic behind how you're selecting your SKUs? 648 00:35:47,680 --> 00:35:50,840 Sir, we wanted to build a lifestyle skincare brand. 649 00:35:51,400 --> 00:35:54,280 We only launch products that are co-related. 650 00:35:54,400 --> 00:35:57,320 We created products inspired by the bathing experience, 651 00:35:57,400 --> 00:35:58,960 including bathrobes, bath towels 652 00:35:59,080 --> 00:36:02,760 and face towels. This face towel is amazing for acne-prone skin. 653 00:36:03,000 --> 00:36:05,920 They will use this towel once and never go back. 654 00:36:06,040 --> 00:36:07,720 This is my guarantee on TV. 655 00:36:08,040 --> 00:36:09,800 How many total SKUs do you have? 656 00:36:09,920 --> 00:36:10,880 - 38, sir. - Sir, 38. 657 00:36:10,960 --> 00:36:12,240 Which are the top 3 SKUs? 658 00:36:21,880 --> 00:36:23,960 ...how much percent is that? 659 00:36:28,400 --> 00:36:31,680 December 2022 to March 2023 660 00:37:01,520 --> 00:37:03,960 - The growth in this year in net revenue is 15%? - Yes. 661 00:37:04,040 --> 00:37:06,200 There's an answer for it getting slow. 662 00:37:06,320 --> 00:37:07,560 You will obviously tell us. 663 00:37:07,640 --> 00:37:09,280 [laughter] 664 00:37:10,240 --> 00:37:11,880 When the balance sheet came out last year 665 00:37:11,960 --> 00:37:14,880 EBITDA was 5.05. PAT was 1.54. 666 00:37:24,800 --> 00:37:25,680 The proof is... 667 00:37:25,760 --> 00:37:29,040 we are standing at +14.52 EBITDA. 668 00:37:38,240 --> 00:37:40,360 ...if you turned 15 to 45 in the next year 669 00:37:40,520 --> 00:37:44,640 even with the 5% EBITDA, my net profit would remain the same. 670 00:37:44,720 --> 00:37:46,440 It was more important to increase sales. 671 00:37:46,520 --> 00:37:50,480 Ashish, Aditi, I've never normally heard this on Shark Tank. 672 00:37:50,640 --> 00:37:53,160 You said, you were getting sales but you refused it. 673 00:37:53,280 --> 00:37:55,320 - No, it's not coming... - Let's understand 674 00:37:55,320 --> 00:37:56,920 where the 10% EBITDA came in from. 675 00:38:16,240 --> 00:38:17,960 - then, you decided to do this? - No, no. 676 00:38:18,080 --> 00:38:20,320 Sir, the reason is the money 677 00:38:20,520 --> 00:38:23,040 that we had taken and spent. It was a loan. 678 00:38:23,120 --> 00:38:25,760 In today's date, we've paid off everything. 679 00:38:25,840 --> 00:38:27,680 Of all the sales that I've mentioned 680 00:38:27,760 --> 00:38:31,320 94% comes from our own D2C website. 681 00:38:38,320 --> 00:38:41,360 Your D2C business runs on which platform? 682 00:38:41,480 --> 00:38:42,200 Shopify. 683 00:38:42,280 --> 00:38:46,440 So, how many orders did you get on Shopify last month 684 00:38:46,520 --> 00:38:47,880 and, what were your sales? 685 00:38:47,960 --> 00:38:49,560 We did 12,000 orders. 686 00:38:49,680 --> 00:38:52,320 We did a gross of 1.65 crores. 687 00:39:00,600 --> 00:39:01,560 - Yes, yes. - Correct. 688 00:39:01,640 --> 00:39:03,560 - Branding, offline activation. - Also... 689 00:39:03,680 --> 00:39:06,920 To build a community, we did a lot of offline activations. 690 00:39:07,000 --> 00:39:10,360 We make them a part of our offline launches. 691 00:39:10,480 --> 00:39:13,520 Will you explain the split of the 43% marketing? 692 00:39:13,600 --> 00:39:15,680 Ma'am, in the first year... 693 00:39:15,800 --> 00:39:17,840 we spent only 10% on Meta & Google 694 00:39:17,920 --> 00:39:21,560 and 90% was branding, offline events and influencer marketing. 695 00:39:21,640 --> 00:39:23,160 Give us a break-up of that. 696 00:39:23,240 --> 00:39:25,200 4-5 crores is a lot of money to put into this. 697 00:39:25,800 --> 00:39:29,000 Ma'am, we've done a total of 11 offline events till date. 698 00:39:29,080 --> 00:39:30,120 What is an offline event? 699 00:39:30,200 --> 00:39:31,880 We call our customers 700 00:39:31,920 --> 00:39:34,800 in batches of 50 or 100. 701 00:39:43,400 --> 00:39:45,160 And, we also did... we placed a bet. 702 00:39:45,240 --> 00:39:47,000 We did a concert... 703 00:39:55,440 --> 00:39:58,640 In which, we generated revenue too. 704 00:39:58,800 --> 00:40:00,880 How much revenue was generated in the concert? 705 00:40:01,000 --> 00:40:02,280 2.75 crores. 706 00:40:02,360 --> 00:40:04,680 - 2.75 crores?! - Not from the concert. 707 00:40:10,920 --> 00:40:12,800 We showed changes in their skin. Live transformation. 708 00:40:13,240 --> 00:40:15,120 We onboarded influencers. 709 00:40:15,320 --> 00:40:18,520 'Then, there is a big surprise for you guys coming in' 710 00:40:18,640 --> 00:40:21,840 - 'if you buy the new launch.' - You told 1000 people 711 00:40:21,840 --> 00:40:24,000 they can see the concert if they buy that product? 712 00:40:24,080 --> 00:40:25,200 - For free? - Absolutely! 713 00:40:25,760 --> 00:40:28,640 - You mentioned a lot of things around social media. - Hmm. 714 00:40:28,720 --> 00:40:31,160 So, you must be having your most viral videos. 715 00:40:31,240 --> 00:40:32,960 - Can we see them? - Sure, sir. 716 00:40:33,920 --> 00:40:35,840 - 'Hi, I'm Aditi. - 'Hi, I'm Ashish.' 717 00:40:35,960 --> 00:40:38,480 'We are the co-founders of Personal Touch Skincare.' 718 00:40:38,560 --> 00:40:40,520 'Personal Touch Skincare is a brand, where' 719 00:40:40,520 --> 00:40:42,520 'clinical efficacy meets affordable luxury.' 720 00:40:42,600 --> 00:40:44,480 This video can't be viral. 721 00:40:44,560 --> 00:40:45,760 - 2 million views. - It actually went viral. 722 00:40:46,320 --> 00:40:47,840 - 2 million views? - Yes. 723 00:40:49,080 --> 00:40:51,080 How many shares and likes does it have? 724 00:40:51,160 --> 00:40:52,640 705. 725 00:40:53,840 --> 00:40:56,480 - So, you boosted it? - No, it was not boosted. 726 00:40:57,560 --> 00:41:00,000 - It's at 700 likes and 2 million views? - Yes. 727 00:41:00,080 --> 00:41:01,360 That's very little engagement. 728 00:41:01,440 --> 00:41:03,920 That can happen only with a boost. You're sure you didn't boost it? 729 00:41:04,040 --> 00:41:05,280 Sure, 100%, ma'am. 730 00:41:06,680 --> 00:41:07,720 100%. 731 00:41:08,400 --> 00:41:11,640 - There's typically a 5% ratio on Instagram... - Yes. 732 00:41:11,720 --> 00:41:14,160 if you take an average. 1% is definite. 733 00:41:14,240 --> 00:41:17,640 1% of 2 million views is 20,000. 734 00:41:17,720 --> 00:41:20,360 So, something is off here, if you go to see. 735 00:41:20,920 --> 00:41:22,720 You don't know you boosted it, right? 736 00:41:22,800 --> 00:41:24,080 - No, we don't know. - Okay. 737 00:41:24,760 --> 00:41:26,240 Tell us the unit economics. 738 00:41:42,160 --> 00:41:43,920 What's your average ASP? 739 00:41:44,000 --> 00:41:45,680 Average product price or order value? 740 00:41:45,760 --> 00:41:47,800 Average order value is 1,450. 741 00:41:47,960 --> 00:41:49,520 And, what are the discounts? 742 00:41:51,640 --> 00:41:52,880 This is the post discount number? 743 00:41:52,960 --> 00:41:55,400 Yes. I gave the unit economics on SP. 744 00:42:03,120 --> 00:42:05,360 Only 40% customers this year must be new. 745 00:42:05,640 --> 00:42:08,040 In your first year of marketing 746 00:42:18,600 --> 00:42:20,080 Sir, retainance takes a lot of money. 747 00:42:20,160 --> 00:42:21,720 How much money is going into repeat? 748 00:42:21,800 --> 00:42:23,480 More than 40%. 749 00:42:29,240 --> 00:42:31,640 The figure for organic in September was 30 lakhs. 750 00:42:31,800 --> 00:42:35,000 By chance, the figure came to me from the team in a conversation. 751 00:42:35,280 --> 00:42:37,480 What do you mean, in a conversation? 752 00:42:38,560 --> 00:42:40,600 I don't know right now how much exactly is organic. 753 00:42:40,680 --> 00:42:43,880 - Why don't you know? - But, attribution is such a... 754 00:42:44,280 --> 00:42:45,600 - Basic thing. - If anyone... 755 00:42:45,800 --> 00:42:47,720 makes sales of 10-15 crores 756 00:42:47,800 --> 00:42:50,400 you don't know the attribution of your marketing? 757 00:42:50,480 --> 00:42:52,160 [tense music playing] 758 00:42:53,680 --> 00:42:56,760 We use attribution analysis in marketing 759 00:42:56,960 --> 00:42:58,400 to figure out 760 00:42:58,560 --> 00:43:01,520 which of our sources are bringing users. 761 00:43:01,720 --> 00:43:04,320 Like, through Facebook, Google 762 00:43:04,400 --> 00:43:06,520 SMS marketing, email marketing. 763 00:43:07,240 --> 00:43:09,160 Attribution analysis tells us 764 00:43:09,240 --> 00:43:12,160 how many users came from each source 765 00:43:12,480 --> 00:43:13,800 and at what cost. 766 00:43:14,080 --> 00:43:17,920 So that, we can accordingly plan our future marketing strategies. 767 00:43:19,760 --> 00:43:22,120 The point that we have reached today... 768 00:43:22,240 --> 00:43:25,400 We were not from the D2C space. We are from Panipat. 769 00:43:26,760 --> 00:43:29,640 I mean, we are talking about spending 5 crore rupees. 770 00:43:29,720 --> 00:43:30,880 So, at least one person... 771 00:43:31,040 --> 00:43:33,000 A little discrepancy in these numbers 772 00:43:33,000 --> 00:43:34,800 - will pay one more person. - Correct. 773 00:43:35,040 --> 00:43:36,360 Because, it's a huge number. 774 00:43:36,440 --> 00:43:38,480 So, it is important to understand the attribution 775 00:43:38,720 --> 00:43:42,320 to understand if our repeat 57% customers 776 00:43:42,440 --> 00:43:45,080 are coming back due to ads, or are genuine? 777 00:43:45,160 --> 00:43:46,520 That question is not being answered. 778 00:43:46,600 --> 00:43:49,520 That's what we wanted from organics but, we didn't get an answer. 779 00:43:49,720 --> 00:43:53,160 It was important for us to know everything before hiring anyone. 780 00:43:53,240 --> 00:43:56,560 On what basis could we judge anyone if we didn't know about something? 781 00:43:56,760 --> 00:43:57,680 I don't agree. 782 00:43:59,760 --> 00:44:01,800 - This is what disappointed me. - Yes, sir? 783 00:44:01,880 --> 00:44:04,800 You very easily said, you don't know 784 00:44:04,880 --> 00:44:06,360 - how much is organic traffic. - Yes, sir. 785 00:44:06,440 --> 00:44:09,280 You said you just heard it in a general conversation. 786 00:44:09,440 --> 00:44:10,840 - You've done good sales. - Yes, sir. 787 00:44:10,920 --> 00:44:12,400 Unfortunately, you know what the problem is? 788 00:44:12,480 --> 00:44:15,080 There is a law of diminishing returns in performance marketing. 789 00:44:15,160 --> 00:44:16,400 - Okay. - After one level 790 00:44:16,400 --> 00:44:18,800 even with a lot of investment, sales don't rise a lot. 791 00:44:19,000 --> 00:44:20,200 Sales rise very slowly. 792 00:44:20,280 --> 00:44:22,200 So, this is the issue that prevented rise in your sales, 793 00:44:22,200 --> 00:44:23,400 because product is expensive too. 794 00:44:23,520 --> 00:44:26,440 I'm very disappointed that you don't know the details. 795 00:44:27,760 --> 00:44:28,600 I'm out right now. 796 00:44:28,680 --> 00:44:30,160 But, you should have been prepared. 797 00:44:30,240 --> 00:44:33,600 You should have come prepared with some details. 798 00:44:34,440 --> 00:44:37,000 Initially, I told you to, you know 799 00:44:37,360 --> 00:44:39,840 - please tell us more about this ordinary business. - Yes. 800 00:44:39,920 --> 00:44:43,400 Actually, I was hoping you'll turn this ordinary business 801 00:44:43,560 --> 00:44:44,720 into extraordinary. 802 00:44:44,840 --> 00:44:46,840 But, it actually isn't. 803 00:44:46,920 --> 00:44:51,320 The biggest issue here is that you didn't do any capability building. 804 00:44:51,600 --> 00:44:54,200 There's still a lot to do to build a brand. 805 00:44:55,400 --> 00:44:56,760 You've put in immense effort. 806 00:44:56,840 --> 00:44:59,120 You've put in 110% effort! It's showing. 807 00:44:59,360 --> 00:45:01,520 But, the efforts were not into building a brand. 808 00:45:01,640 --> 00:45:03,760 Till you won't establish the brand 809 00:45:04,120 --> 00:45:06,120 - you won't break out. - Yes. 810 00:45:06,680 --> 00:45:08,040 So, I'm out today. 811 00:45:08,320 --> 00:45:10,000 - But, I wish you all the best. - Thank you, sir. 812 00:45:12,080 --> 00:45:15,000 I am struggling a little 813 00:45:15,080 --> 00:45:18,240 to give even as much credit as Kunal is giving. 814 00:45:18,560 --> 00:45:22,120 Because, if we see the math of your gross margins 815 00:45:22,480 --> 00:45:24,920 on this product, the cost of this product is Rs. 500. 816 00:45:33,000 --> 00:45:35,680 ...if we add everything and count the purest forms too 817 00:45:35,840 --> 00:45:36,920 at the max... 818 00:45:37,280 --> 00:45:38,800 production cost will be Rs. 100-150. 819 00:45:38,880 --> 00:45:41,960 So, this is one thing, which I find a little hard to believe. 820 00:45:42,040 --> 00:45:44,280 I don't know if your cousin is cheating you. 821 00:45:44,360 --> 00:45:46,680 That's the benefit of doubt I would have given. 822 00:45:46,880 --> 00:45:50,480 But, when you said, you didn't boost your video with the 2 million views 823 00:45:50,720 --> 00:45:54,080 and then, you began relating that whole story 824 00:45:54,160 --> 00:45:57,320 about your marketing, performance marketing and expenses 825 00:45:57,680 --> 00:46:01,480 all that is now making me doubt these numbers. 826 00:46:03,480 --> 00:46:05,720 You're talking about experiential marketing. 827 00:46:05,800 --> 00:46:09,080 I feel, you're selling all these products with one-to-one sales. 828 00:46:09,160 --> 00:46:10,760 Because, the market in India 829 00:46:10,840 --> 00:46:13,160 - for skincare is worth 25,000 crores. - Correct. 830 00:46:13,560 --> 00:46:17,360 From that, the market above Rs. 1000 which perhaps you don't know 831 00:46:17,400 --> 00:46:21,320 so, you keep calling this affordable luxury is not even 4%. 832 00:46:21,520 --> 00:46:24,000 And, the consumer in that 4% 833 00:46:24,160 --> 00:46:27,080 is not shopping in D2C, or... 834 00:46:27,160 --> 00:46:30,880 buying creams worth Rs. 2000 without actually having a retail store. 835 00:46:31,000 --> 00:46:34,400 So, I feel, if I check out your Shopify dashboard 836 00:46:34,480 --> 00:46:37,120 I won't see these numbers. Because, it is impossible. 837 00:46:37,800 --> 00:46:39,480 For that reason, I am out. 838 00:46:39,560 --> 00:46:42,960 Um, I have a very very strong gut feeling that 839 00:46:43,080 --> 00:46:44,280 something is fishy. 840 00:46:45,400 --> 00:46:47,120 You are out for today. Thank you... 841 00:46:47,400 --> 00:46:49,160 for listening to us. 842 00:46:49,240 --> 00:46:51,680 But, I will show you the proof today. 843 00:46:51,840 --> 00:46:54,240 I'll open up Shopify to you. 844 00:46:54,400 --> 00:46:56,680 Even a difference of 1% is on me. 845 00:46:56,960 --> 00:46:58,280 Aditi, Ashish. 846 00:46:58,400 --> 00:47:02,200 Look, firstly, your family and business are interrelated. 847 00:47:02,280 --> 00:47:03,760 I like to see that. 848 00:47:03,880 --> 00:47:07,160 When anyone touches and experiences your product 849 00:47:07,360 --> 00:47:10,040 it forms a lasting impression. Well done on that. 850 00:47:10,320 --> 00:47:12,560 I think, your structural issue is that 851 00:47:12,640 --> 00:47:13,920 you're so comfortable 852 00:47:14,000 --> 00:47:17,880 about spending on marketing even to retain your customers. 853 00:47:18,040 --> 00:47:20,320 - A lot of companies face problems. - Yes. 854 00:47:20,400 --> 00:47:22,680 I have a problem that you are comfortable with that problem. 855 00:47:22,880 --> 00:47:25,480 I think, your company is missing attention to detail 856 00:47:25,920 --> 00:47:27,200 outside of product. 857 00:47:28,280 --> 00:47:30,040 But, I'm ready to help you with that. 858 00:47:30,120 --> 00:47:32,480 I invite you to meet me in Gurugram. 859 00:47:32,560 --> 00:47:34,680 I'll spend an hour or so with you, especially in 860 00:47:34,840 --> 00:47:37,280 - laying out all these basics. - Yes. 861 00:47:37,480 --> 00:47:39,040 If you find that alright... 862 00:47:39,200 --> 00:47:40,720 then, hopefully, we will have something to do. 863 00:47:40,800 --> 00:47:42,840 I'm out today, but, many best wishes. 864 00:47:44,680 --> 00:47:46,320 If we see your business... 865 00:47:46,400 --> 00:47:50,360 last year, at a revenue of 20 crores, 43% was marketing heads. 866 00:47:50,760 --> 00:47:53,840 That's basically the largest head of your cost bucket. 867 00:47:53,960 --> 00:47:55,840 Basically, you don't have an idea 868 00:47:55,920 --> 00:47:58,320 of the details of the largest head. 869 00:47:58,440 --> 00:48:00,520 The largest cost base in a business 870 00:48:00,640 --> 00:48:02,440 should be at our tips. 871 00:48:02,680 --> 00:48:05,320 So, somewhere, I saw a depth missing. 872 00:48:05,520 --> 00:48:09,000 Secondly, for any business across the world 873 00:48:09,320 --> 00:48:11,360 only one fundamental metric matters. 874 00:48:11,440 --> 00:48:14,000 - Whether you have repeat customers or not. - Yes. 875 00:48:14,080 --> 00:48:16,240 If you don't, the business is a flop. 876 00:48:16,320 --> 00:48:18,080 If you do, it's a goldmine. 877 00:48:18,400 --> 00:48:20,240 And, in today's date, unfortunately... 878 00:48:20,320 --> 00:48:23,360 you're unable to correctly answer that fundamental question. 879 00:48:23,440 --> 00:48:26,200 So, I'm out because of all these reasons. 880 00:48:26,440 --> 00:48:29,000 But, you made sales at a very large scale 881 00:48:29,080 --> 00:48:31,080 and, with a positive EBITDA too 882 00:48:31,160 --> 00:48:33,240 so, perhaps if you find the answer to this question 883 00:48:33,400 --> 00:48:35,920 the business can grow significantly from here. 884 00:48:36,800 --> 00:48:38,920 Okay, all five Sharks are out. 885 00:48:39,000 --> 00:48:40,960 - Thank you very much, Ashish and Aditi. - Thank you, Sharks. 886 00:48:41,040 --> 00:48:43,520 - Thank you. - We'll come back much stronger after learning. 887 00:48:43,720 --> 00:48:46,000 - Please! All the best. - See, I didn't give you a cheque. 888 00:48:46,080 --> 00:48:48,080 I'm giving you my phone number. Do message me. - Thank you, sir. 889 00:48:48,200 --> 00:48:50,600 - All the best. - Do well. God bless you. 890 00:48:58,000 --> 00:49:00,280 to see their sales data on Shopify. 891 00:49:00,520 --> 00:49:02,040 I guess, till date... 892 00:49:02,680 --> 00:49:04,200 it's 32 crores. 893 00:49:04,360 --> 00:49:06,680 67 lifetime sales, December. 894 00:49:06,800 --> 00:49:08,520 - Yes, open for October. - Yes. 895 00:49:08,600 --> 00:49:11,040 I told you 1.65 crores. 896 00:49:11,120 --> 00:49:13,720 - Hmm? - Total net is 1.32. 897 00:49:13,920 --> 00:49:15,280 On your site... 898 00:49:15,360 --> 00:49:17,720 the traffic is 7000-8000. 899 00:49:18,040 --> 00:49:20,720 - Okay. Daily? - No, per month. 900 00:49:20,920 --> 00:49:23,360 That means, roughly... 901 00:49:23,440 --> 00:49:25,440 maybe 10,000-12,000 is coming in. 902 00:49:25,520 --> 00:49:27,160 If you want to make 1.5 crores on your website 903 00:49:27,240 --> 00:49:30,280 your traffic should be at least 1-1.5 lakh people. 904 00:49:30,480 --> 00:49:33,600 Okay? Your total monthly visits 905 00:49:33,720 --> 00:49:35,440 are around 10,000-12,000. 906 00:49:35,520 --> 00:49:36,880 Your orders are 12,000. 907 00:49:36,960 --> 00:49:39,440 So, all your consumers are converting. 908 00:49:39,680 --> 00:49:41,880 If your traffic is 10-15,000 people 909 00:49:41,960 --> 00:49:44,600 the 12,000 orders that you have received 910 00:49:44,840 --> 00:49:47,320 is not your website business. 911 00:49:47,600 --> 00:49:49,880 What you are doing in a day 912 00:49:49,960 --> 00:49:51,720 - can be two things. - Activation. 913 00:49:51,800 --> 00:49:53,400 Either, you are launching 914 00:49:53,720 --> 00:49:56,280 and, adding people's orders on Shopify. 915 00:49:56,440 --> 00:49:57,400 To show sales. 916 00:49:57,480 --> 00:49:59,480 Or, you're making consumers do it. 917 00:49:59,560 --> 00:50:02,040 No company can have such sales. 918 00:50:02,120 --> 00:50:04,440 That, we have 2 lakh sales daily 919 00:50:04,640 --> 00:50:07,800 and, suddenly one day sales became 50 lakhs, and then, down to zero. 920 00:50:07,880 --> 00:50:09,320 Ma'am, this is a launch. 921 00:50:09,400 --> 00:50:12,720 - We make launches and hold drop sales. - Launches or sales. 922 00:50:12,800 --> 00:50:14,560 Our pattern since the start 923 00:50:14,880 --> 00:50:17,480 - is that we build here... Yes, please do. - Show it to me again. 924 00:50:17,920 --> 00:50:19,800 See here, this is a launch too. 925 00:50:20,000 --> 00:50:23,240 You'll see our pattern all over the month. What we do is... 926 00:50:23,480 --> 00:50:26,680 we create a hype about a new product. 927 00:50:26,760 --> 00:50:28,960 It will be followed by a sale too. 928 00:50:29,120 --> 00:50:31,840 Every one of our customers waits for this time. 929 00:50:32,160 --> 00:50:34,200 During a launch, you'll suddenly... 930 00:50:34,280 --> 00:50:36,160 You can go behind month-on-month. 931 00:50:36,240 --> 00:50:38,080 Show me the total traffic. 932 00:50:38,320 --> 00:50:39,720 Here are the total sessions. 933 00:50:40,240 --> 00:50:41,960 How much are your total customers? 934 00:50:42,240 --> 00:50:43,440 Uh, 96,000. 935 00:50:43,880 --> 00:50:45,240 - Total customers? - Yes. 936 00:50:45,320 --> 00:50:48,080 - For selling products worth 32 crores? - Yes. 937 00:50:48,280 --> 00:50:50,720 If 95,000 people are buying products worth 32 crores 938 00:50:50,800 --> 00:50:52,920 how much is each customer giving you? Do the math. 939 00:50:53,000 --> 00:50:54,160 Rs. 19,000. 940 00:50:54,240 --> 00:50:57,160 So, your sales are not just website business. 941 00:50:57,280 --> 00:50:59,200 With 90,000 customers 942 00:50:59,320 --> 00:51:02,440 sales worth 32 crores is not a B2C business. 943 00:51:02,520 --> 00:51:05,560 Ma'am, our products are unique. 944 00:51:05,720 --> 00:51:07,440 People are crazy for them. 945 00:51:07,560 --> 00:51:10,800 We have built such a cult community. The laptop is here. 946 00:51:10,880 --> 00:51:13,760 There are only 90,000 people in your community, who have... 947 00:51:13,840 --> 00:51:16,400 Shall I tell you one more thing? You won't believe it either. 948 00:51:16,480 --> 00:51:20,760 From this whole community of 96,000 people 949 00:51:21,040 --> 00:51:24,160 24,000 people alone bought products worth 19 crores. 950 00:51:24,320 --> 00:51:26,240 Then, you have a B2B business. 951 00:51:27,120 --> 00:51:29,000 As far as I know, consumers... 952 00:51:29,160 --> 00:51:32,240 don't wait for a specific day. They don't shop once in 3 months. 953 00:51:32,480 --> 00:51:35,560 So, I think, on that day... 954 00:51:35,760 --> 00:51:37,440 they either enter sales 955 00:51:37,600 --> 00:51:41,080 which can be real or fake 956 00:51:41,320 --> 00:51:42,400 or else... 957 00:51:42,520 --> 00:51:46,400 they place offers on launch day and take orders on calls. 958 00:51:46,600 --> 00:51:49,400 But, this may be helping their business 959 00:51:49,440 --> 00:51:51,240 but, this is not a D2C or online business. 960 00:51:51,320 --> 00:51:53,160 Because, no online business 961 00:51:53,240 --> 00:51:56,840 can jump from their daily average by a 100 times 962 00:51:57,080 --> 00:51:59,000 on any one day. 963 00:51:59,120 --> 00:52:03,000 You know that your favourite brand is on sale on only one day. 964 00:52:03,240 --> 00:52:06,520 And, you will get profitable deals. Won't you take it? 965 00:52:06,760 --> 00:52:08,160 - Vineeta will also buy. - Won't you wait? 966 00:52:08,240 --> 00:52:09,440 - I think, everyone... - Everyone will take. 967 00:52:09,520 --> 00:52:12,480 Every Shark will eagerly buy on that day. 968 00:52:12,600 --> 00:52:14,000 But, the problem is that 969 00:52:14,080 --> 00:52:17,200 it's become too real for them. They're not ready to believe 970 00:52:17,440 --> 00:52:18,760 these are real numbers. 971 00:52:18,960 --> 00:52:23,080 I don't think... We'll have to take them to the bank now. I don't know. 972 00:52:23,560 --> 00:52:24,960 Hello, team Personal Touch. 973 00:52:25,080 --> 00:52:27,920 Welcome to PokerBaazi zone where you hold the cards. 974 00:52:28,360 --> 00:52:30,160 Obviously, too much happened in the Tank. 975 00:52:30,440 --> 00:52:32,320 But, honestly, there were some high points 976 00:52:32,320 --> 00:52:33,920 and, I have to applaud you for that. 977 00:52:34,000 --> 00:52:36,400 But, let's forget about the Tank for 2 minutes. 978 00:52:36,400 --> 00:52:37,720 Are you familiar with Poker? 979 00:52:38,080 --> 00:52:40,840 - A little. - A little, okay. So, let me be a teacher today. 980 00:52:40,920 --> 00:52:43,480 There are several similarities between Poker and business. 981 00:52:43,560 --> 00:52:45,600 There's risk, competition... 982 00:52:45,680 --> 00:52:47,280 strategy, all that. 983 00:53:15,000 --> 00:53:17,920 - Four Of a Kind would be customer service. - Okay. 984 00:53:18,160 --> 00:53:21,000 - Then, Full House would be business ethics. - Hmm? 985 00:53:21,200 --> 00:53:22,640 And, Flush would be marketing. 986 00:53:22,720 --> 00:53:24,400 Marketing. Nice! 987 00:53:25,880 --> 00:53:29,040 Now, tell me, I've learned about your R&D that 988 00:53:29,120 --> 00:53:31,000 you do have research and development 989 00:53:31,120 --> 00:53:33,200 - but, testing is done on madam? - Hmm. 990 00:53:34,400 --> 00:53:36,680 - Are you still the guinea pig? - Yes. 991 00:53:36,760 --> 00:53:38,200 - Still the one. Yes. - You're still the guinea pig? 992 00:53:38,280 --> 00:53:40,840 Personal Touch Skincare is based on 993 00:53:40,920 --> 00:53:42,480 focusing on sensitive skin. 994 00:53:42,560 --> 00:53:44,600 - Okay. - And, who is better than me? 995 00:53:44,720 --> 00:53:45,920 So, that's why, I do it. 996 00:53:46,000 --> 00:53:48,560 That's why, you're so focused. It's your Royal Flush, which is 997 00:54:15,040 --> 00:54:17,520 ...apply your winning strategy and draw your winning hand. 998 00:54:17,600 --> 00:54:19,600 Download the PokerBaazi app now. 999 00:54:19,800 --> 00:54:22,840 I know you people very well. 1000 00:54:23,440 --> 00:54:25,200 You want to sit at home and give real-time feedback 1001 00:54:25,440 --> 00:54:27,720 about how each shot of cricket should be played. 1002 00:54:27,920 --> 00:54:29,760 That the bat should have been swung like this, not like this. 1003 00:54:39,560 --> 00:54:41,520 Tell us who will get the funding and who won't? 1004 00:54:41,680 --> 00:54:44,520 You stand a chance to win iPhones, iPads and other goodies. 1005 00:54:44,720 --> 00:54:46,920 Hurry and log on to the Lenskart app or Lenskart.com. 1006 00:54:47,520 --> 00:54:50,440 'Shark Tank India, co-presented by ACKO Insurance,' 1007 00:54:50,560 --> 00:54:52,560 'PokerBaazi and Swiggy Instamart.' 1008 00:54:52,680 --> 00:54:55,320 'Co-powered by Adani, and Jaquar Bath and Light.' 1009 00:54:55,400 --> 00:54:58,320 'And partners, Rayzon Solar, ICICI Direct,' 1010 00:54:58,520 --> 00:55:00,040 'Lenskart and Sofy.' 1011 00:55:00,360 --> 00:55:02,320 'Beyond the Tank 'We will do it and show' Journeys' 1012 00:55:04,360 --> 00:55:06,280 [music playing] 1013 00:55:07,400 --> 00:55:10,240 'Dil Foods is a virtual restaurant operator.' 1014 00:55:10,440 --> 00:55:14,040 'Inspired by the different regions and cultures of India' 1015 00:55:14,360 --> 00:55:16,000 'it makes fresh food brands.' 1016 00:55:16,080 --> 00:55:19,400 Hello, I'm Sahiba and welcome to Adani presents, 'Beyond the Tank.' 1017 00:55:19,480 --> 00:55:20,800 Adani has a motto. 1018 00:55:21,000 --> 00:55:22,600 Which is 'We will do it and show.' 1019 00:55:22,680 --> 00:55:25,920 Let's see what today's entrepreneur has done. 1020 00:55:26,000 --> 00:55:27,960 'By associating with Dil Foods' 1021 00:55:28,040 --> 00:55:31,240 'any of the brands out of our eight cloud brands' 1022 00:55:31,360 --> 00:55:34,200 'can parallelly operate from its kitchen.' 1023 00:55:34,280 --> 00:55:35,320 'What is your five-year vision?' 1024 00:55:35,440 --> 00:55:38,480 'We want to make a 7500 crores company.' 1025 00:55:38,560 --> 00:55:40,520 'Phew!' 1026 00:55:41,200 --> 00:55:43,520 As soon as she walked into the tank 1027 00:55:43,720 --> 00:55:45,280 everyone was impressed with her. 1028 00:55:45,520 --> 00:55:49,080 'To be associated with our dream, what we want from you is' 1029 00:55:49,240 --> 00:55:51,720 '50 lakhs for 0.5 per cent equity.' 1030 00:55:51,800 --> 00:55:54,200 'Two crores for 2.67 per cent.' 1031 00:55:57,440 --> 00:55:59,240 - 'Let's do it. - Which is four of us. - Let's do it.' 1032 00:55:59,320 --> 00:56:00,800 - 'Let's do it. - Let's just do it.' 1033 00:56:01,880 --> 00:56:02,800 'Thank you.' 1034 00:56:02,880 --> 00:56:04,040 - 'Thank you. - Well done.' 1035 00:56:04,120 --> 00:56:06,080 [music playing] 1036 00:56:08,400 --> 00:56:10,160 A four-Shark deal is not a joke. 1037 00:56:10,240 --> 00:56:11,680 There was no negotiation either. 1038 00:56:11,760 --> 00:56:13,560 But how have the Sharks helped you so far? 1039 00:56:13,640 --> 00:56:15,000 I went to meet Peyush 1040 00:56:15,080 --> 00:56:16,680 and he gave an advice 1041 00:56:16,760 --> 00:56:20,040 about where I should expand and where I shouldn't. 1042 00:56:20,120 --> 00:56:21,760 I learnt a lot from Ritesh. 1043 00:56:24,400 --> 00:56:25,960 How to ensure 1044 00:56:26,040 --> 00:56:27,560 that they are also growing. 1045 00:56:32,800 --> 00:56:34,320 I reach out to Vineeta for that. 1046 00:56:34,400 --> 00:56:36,320 Radhika had also come on board with us. 1047 00:56:36,400 --> 00:56:39,880 I also talk to Radhika before making a financial decision. 1048 00:56:39,960 --> 00:56:42,080 She is the Goddess of Finance. 1049 00:56:42,160 --> 00:56:46,520 When you were in the tank, you said, you hoped to reach 30 crores that year. 1050 00:56:46,640 --> 00:56:47,400 We did 32 crores. 1051 00:56:47,480 --> 00:56:49,680 - Even went beyond your prediction. - Thank you. 1052 00:56:49,760 --> 00:56:50,800 What happened after that? 1053 00:56:50,880 --> 00:56:52,360 When we came on Shark Tank, 1054 00:56:52,440 --> 00:56:56,680 we were doing 2,000 to 2,500 orders on a daily basis. 1055 00:56:56,840 --> 00:56:59,680 After this was aired, 1056 00:56:59,760 --> 00:57:01,680 within 48 hours, 1057 00:57:01,800 --> 00:57:04,080 we got 26,000 enquiries. 1058 00:57:04,200 --> 00:57:06,640 Our existing restaurant partners 1059 00:57:06,720 --> 00:57:08,240 also saw a huge growth. 1060 00:57:08,320 --> 00:57:11,080 There are so many restaurants that had not seen 1061 00:57:11,200 --> 00:57:13,160 - 100 orders in a day in their lives. - Hmm. 1062 00:57:13,240 --> 00:57:15,640 And for them to be able to handle 400 1063 00:57:15,720 --> 00:57:17,720 - or 500 orders on a daily basis, - Hmm. 1064 00:57:17,800 --> 00:57:19,480 - it was a very big deal for them. - Hmm. 1065 00:57:19,560 --> 00:57:21,520 And how many cities have you expanded into? 1066 00:57:21,600 --> 00:57:22,720 Right now we're there in 1067 00:57:22,840 --> 00:57:25,280 Bengaluru, Hyderabad, Chennai, Pune. 1068 00:57:25,360 --> 00:57:27,840 We just launched in Coimbatore and Mysuru. 1069 00:57:27,920 --> 00:57:29,600 - Amazing. - And we're launching in Mumbai next month. 1070 00:57:29,680 --> 00:57:32,240 We launched several authentic, new types of 1071 00:57:32,320 --> 00:57:34,480 comfort foods and soul foods. 1072 00:57:34,560 --> 00:57:37,080 We could see the jump in terms of numbers and sales. 1073 00:57:37,160 --> 00:57:39,320 Because we were selling very cliched items like, 1074 00:57:39,320 --> 00:57:41,400 - 'Litti Chokha' and 'Sattu.' - Hmm. 1075 00:57:41,400 --> 00:57:43,360 When we steered towards authenticity 1076 00:57:43,440 --> 00:57:45,480 suddenly our orders 1077 00:57:45,560 --> 00:57:48,440 - went to 2x and 2.5x, which was - Right. 1078 00:57:48,520 --> 00:57:50,440 - absolutely great for us. - Hmm. 1079 00:57:50,600 --> 00:57:53,400 We realized that people were craving 1080 00:57:53,480 --> 00:57:55,440 for authentic regional food. 1081 00:57:55,520 --> 00:57:56,760 In all of Bengaluru, 1082 00:57:56,840 --> 00:57:59,880 no one used to serve 'Tamatar Chaat,' other than us. 1083 00:57:59,960 --> 00:58:02,680 After the show was aired, 1084 00:58:02,800 --> 00:58:04,520 many of the local 'chaat' vendors 1085 00:58:04,600 --> 00:58:08,440 - introduced 'Tamatar Chaat' in their menu. - Yes. 1086 00:58:08,640 --> 00:58:10,120 And we even went and asked them, 1087 00:58:10,200 --> 00:58:13,640 - 'How come you suddenly introduced 'Tamatar Chaat?' - Hmm. 1088 00:58:13,720 --> 00:58:16,120 They told us that they saw it on Shark Tank. 1089 00:58:16,200 --> 00:58:17,520 You became a trendsetter. 1090 00:58:17,600 --> 00:58:22,080 Now, 'Tamatar Chaat' is available in six to seven places in Bengaluru. 1091 00:58:22,240 --> 00:58:24,000 'My team and I went to Bihar.' 1092 00:58:24,200 --> 00:58:26,600 'We stayed at the locals' homes there.' 1093 00:58:26,680 --> 00:58:29,240 - 'Yeah! - Here, on the streets, you get the best' 1094 00:58:29,360 --> 00:58:32,000 'in the world, 'Champaran Mutton with Litti.' 1095 00:58:32,120 --> 00:58:35,480 - People don't even know that such a cuisine is available. - Hmm. 1096 00:58:35,560 --> 00:58:37,400 The homes that you lived in, did they introduce it to you? 1097 00:58:37,480 --> 00:58:39,560 Did they make you taste it? 1098 00:58:39,640 --> 00:58:41,720 We forced them that this is what we want to eat, 1099 00:58:41,800 --> 00:58:43,280 foods that they eat daily. 1100 00:58:43,360 --> 00:58:45,040 Because they were feeling bad, they said, 1101 00:58:45,120 --> 00:58:46,640 'We'll make Paneer Curry.' We said we don't want that. 1102 00:58:46,720 --> 00:58:47,560 We don't want it, 1103 00:58:47,640 --> 00:58:48,760 - We want to eat this. - Right... 1104 00:58:48,840 --> 00:58:51,080 Usually when you think about how Shark Tank changed 1105 00:58:51,160 --> 00:58:52,880 your life and when everyone talks about your business, 1106 00:58:52,960 --> 00:58:55,000 - was there any personal change? - Yes. 1107 00:58:55,080 --> 00:58:56,240 There were a lot of changes. 1108 00:58:56,360 --> 00:58:58,000 But suddenly after Shark Tank, 1109 00:58:58,080 --> 00:59:00,320 wherever you go, people recognize you. 1110 00:59:00,440 --> 00:59:02,000 They want to come and take pictures with you. 1111 00:59:02,080 --> 00:59:06,240 Secondly, the extended family from my in-law's side, 1112 00:59:06,400 --> 00:59:08,040 they are all from Rajasthan. 1113 00:59:08,120 --> 00:59:11,600 - They have a conservative culture there. - Hmm. 1114 00:59:11,720 --> 00:59:13,920 Men and women would not sit together even for meals. 1115 00:59:14,000 --> 00:59:16,800 This time when I went, there was an incident 1116 00:59:16,880 --> 00:59:20,800 that a male member was saying something to a female member 1117 00:59:20,880 --> 00:59:24,040 and she just said, 'You can tell this to me later, first tell me' 1118 00:59:24,120 --> 00:59:27,120 'do you know how many zeroes are there in 7.5 thousand crores?' 1119 00:59:27,200 --> 00:59:30,760 - Oh, my God. How nice. - That was a part of my pitch. That happened, 1120 00:59:30,960 --> 00:59:33,440 and now I can a lot of changes. Which are, I mean... 1121 00:59:33,520 --> 00:59:34,880 Changes that give me a lot of joy. 1122 00:59:34,960 --> 00:59:36,120 What you've done, 1123 00:59:36,200 --> 00:59:40,360 it's very difficult to smash years of tradition and years of patriarchy. 1124 00:59:40,440 --> 00:59:42,320 Your story has been very inspiring, though. 1125 00:59:42,400 --> 00:59:43,720 Let us tell you 1126 00:59:43,800 --> 00:59:45,400 that the entrepreneurs who come here, 1127 00:59:55,080 --> 00:59:58,040 Arpita, keep doing what you do. It was so nice meeting you. 1128 00:59:58,120 --> 01:00:00,440 - This is on behalf of Adani, - Thank you so much. 1129 01:00:00,520 --> 01:00:02,080 Shark Tank and me. 1130 01:00:02,160 --> 01:00:03,840 - This is for you. - Thank you so much. 1131 01:00:03,920 --> 01:00:05,960 And of course, we are on the 'Adani Wall of Achievements.' 1132 01:00:06,240 --> 01:00:08,480 I can see a walk down the memory lane. 1133 01:00:08,800 --> 01:00:11,360 You're looking very happy here. You have the cheque, obviously. 1134 01:00:11,440 --> 01:00:14,240 How does it feel to be here, when you were there and now you're here. 1135 01:00:14,440 --> 01:00:16,360 Very nostalgic. 1136 01:00:16,480 --> 01:00:19,880 In fact, I was just looking at the pictures and I realized 1137 01:00:19,960 --> 01:00:22,080 - that it's been one year already. - Yes. 1138 01:00:22,160 --> 01:00:25,960 But it feels like I was here just yesterday, seeing this place. 1139 01:00:26,200 --> 01:00:29,080 It feels very nostalgic and very nice. 1140 01:00:29,160 --> 01:00:32,200 - Amazing. Best of luck. I can't wait to see what you do next. - Thank you. 1141 01:00:32,400 --> 01:00:33,200 Thank you. 1142 01:00:33,320 --> 01:00:35,600 - Hi. How are you? - Hi... - What's happening? 1143 01:00:35,680 --> 01:00:37,560 Superstar founder. 1144 01:00:37,640 --> 01:00:39,000 Lovely. 1145 01:00:39,160 --> 01:00:40,480 - So good to meet you. Hi, Ritesh. - Nice to meet you. 1146 01:00:40,600 --> 01:00:42,120 - How are you? - All good. 1147 01:00:42,200 --> 01:00:44,920 - Congratulations on all the progress. - Thank you so much. 1148 01:00:45,000 --> 01:00:46,520 How's it going? Your numbers 1149 01:00:46,600 --> 01:00:48,840 were always amazing. But where is the revenue now? 1150 01:00:48,920 --> 01:00:49,680 So, it's going great. 1151 01:00:49,760 --> 01:00:51,280 - Amazing. - And profitably. 1152 01:00:51,400 --> 01:00:53,160 This reminds me of Scrooge McDuck. 1153 01:00:53,240 --> 01:00:55,880 - Swimming in the money. - There's a lot of profit and you're swimming in it. 1154 01:00:56,120 --> 01:00:58,680 I have two to three suggestions for you. Firstly, 1155 01:00:59,080 --> 01:01:02,200 - always give ten per cent more - Hmm. 1156 01:01:05,760 --> 01:01:07,120 If you make another round now, there 1157 01:01:07,200 --> 01:01:08,640 will be a good valuation. What's it now? 1158 01:01:08,760 --> 01:01:10,160 380 crores? 1159 01:01:10,400 --> 01:01:11,720 We did it at 75. 1160 01:01:11,840 --> 01:01:13,760 That means we've got 5.5x return on investment 1161 01:01:14,000 --> 01:01:15,960 in the first year. 1162 01:01:16,040 --> 01:01:19,520 - I believe we will get a 10,000 crore rupees exit. - Yes. 1163 01:01:19,640 --> 01:01:21,560 - And we have full faith in you. - Thank you so much. 1164 01:01:21,640 --> 01:01:23,560 - Do well, God bless you. - Thank you so much. 1165 01:01:23,880 --> 01:01:24,680 Thank you so much. 1166 01:01:24,760 --> 01:01:27,840 Congratulations. I'm very happy about your success. 1167 01:01:27,960 --> 01:01:29,640 Our next business founders... 1168 01:01:29,720 --> 01:01:33,440 I have found out something very unique one of them 1169 01:01:33,520 --> 01:01:35,520 and for that, I have to order them something. 1170 01:01:35,600 --> 01:01:37,280 I'm logging on to Swiggy Instamart. 1171 01:01:37,960 --> 01:01:41,280 It will be here in 10 minutes, it's that simple. And... 1172 01:01:41,960 --> 01:01:45,520 It's done. Order placed. You too get ready for the next pitch. 1173 01:01:45,640 --> 01:01:48,400 If you need anything, there's Swiggy Instamart, right? 1174 01:01:48,480 --> 01:01:49,480 I'll see you after the break. 1175 01:01:50,040 --> 01:01:52,080 [theme music playing] 1176 01:02:06,520 --> 01:02:08,480 [theme music playing] 1177 01:02:18,960 --> 01:02:20,760 - Greetings, Sharks. - Greetings. 1178 01:02:20,840 --> 01:02:22,480 It's like this, 1179 01:02:22,600 --> 01:02:25,160 if you want to know about yourself, 1180 01:02:25,240 --> 01:02:27,000 then you should know what you eat. 1181 01:02:27,280 --> 01:02:29,840 And if you want to know about what you're eating, 1182 01:02:30,000 --> 01:02:32,640 then you should know more about your country, Bharat. 1183 01:02:32,800 --> 01:02:34,280 I am Farmer Nupur. 1184 01:02:34,360 --> 01:02:35,640 And I'm Farmer Abhinav 1185 01:02:39,440 --> 01:02:41,080 ...to 'Discover India through food.' 1186 01:02:42,520 --> 01:02:44,320 Do you have the time 1187 01:02:44,400 --> 01:02:46,320 to go to Kashmir to drink Kahwa? 1188 01:02:46,440 --> 01:02:49,600 Or do you have the courage to go to Leh, Ladakh in -30 degrees, 1189 01:02:49,680 --> 01:02:53,160 and taste Sea Buckthorn Berry Jam that is made there? 1190 01:02:53,440 --> 01:02:56,000 Would you like to eat 'Rajma' rice that is made 1191 01:02:56,080 --> 01:02:58,680 from spices ground on the mortar pestle? 1192 01:02:58,760 --> 01:03:01,640 Or while sipping tea from Dibrugarh, Assam, 1193 01:03:01,760 --> 01:03:04,720 would you be able to taste 'Amritsari Masala Paratha?' 1194 01:03:04,920 --> 01:03:06,480 We know, Sharks, 1195 01:03:06,680 --> 01:03:08,960 you cannot be everywhere, 1196 01:03:09,240 --> 01:03:11,560 but the flavours of all the places 1197 01:03:11,720 --> 01:03:13,960 can surely come to you. 1198 01:03:14,120 --> 01:03:17,080 That's why we've created KIWI Kisan Window. 1199 01:03:17,200 --> 01:03:19,640 India's one-stop solution 1200 01:03:19,840 --> 01:03:22,920 for experiencing healthy unique flavours of India. 1201 01:03:31,200 --> 01:03:33,760 Unfortunately there is no brand so far 1202 01:03:33,840 --> 01:03:36,480 that could bring all these diverse and unique food products 1203 01:03:36,600 --> 01:03:40,120 through an experiential store, to you. 1204 01:03:40,280 --> 01:03:43,440 KIWI Kisan Window is a big step in this direction. 1205 01:03:44,040 --> 01:03:48,080 Sharks, our philosophy of scalability is very simple. 1206 01:03:48,480 --> 01:03:49,600 Omnichannel. 1207 01:04:04,040 --> 01:04:05,520 And with the same brand 1208 01:04:05,680 --> 01:04:08,200 we want to make Indian farmer's products 1209 01:04:08,320 --> 01:04:10,840 a global brand. 1210 01:04:10,920 --> 01:04:13,920 With 300 stores in the next five years. 1211 01:04:14,240 --> 01:04:16,680 And for this, we need your guidance 1212 01:04:16,840 --> 01:04:19,680 and only 50 lakh rupees. 1213 01:04:19,760 --> 01:04:21,560 At one per cent equity. 1214 01:04:21,800 --> 01:04:23,840 We now request you 1215 01:04:24,080 --> 01:04:26,680 that you join us on this path 1216 01:04:26,920 --> 01:04:28,760 and 'Discover India through food.' 1217 01:04:29,640 --> 01:04:32,480 - Awesome. - Farmer Nupur, farmer Abhinav. 1218 01:04:32,760 --> 01:04:35,280 - Yes. - Yes. - Welcome. Are you really farmers? 1219 01:04:35,440 --> 01:04:38,680 - Yes. - We were farmers, we run this brand now. 1220 01:04:38,760 --> 01:04:40,120 We are now farmpreneurs. 1221 01:04:41,480 --> 01:04:45,200 Tell us about your journey from a farmer to this business 1222 01:04:45,320 --> 01:04:46,920 to Shark Tank. 1223 01:04:47,640 --> 01:04:50,000 I was born and brought up in Dehradun. 1224 01:04:50,160 --> 01:04:53,480 After that, I went to England on a scholarship. 1225 01:04:53,560 --> 01:04:55,480 What did you study in England, on the scholarship? 1226 01:04:55,640 --> 01:04:56,800 Ma'am, Business Studies. 1227 01:04:56,880 --> 01:04:58,120 Post-graduation or Under graduation? 1228 01:04:58,200 --> 01:04:59,000 Under graduation, ma'am, 1229 01:05:05,160 --> 01:05:07,200 ...but I couldn't clear IAS. 1230 01:05:07,280 --> 01:05:09,280 But in the process I understood my country very well. 1231 01:05:09,480 --> 01:05:10,880 After understanding my country 1232 01:05:10,960 --> 01:05:13,080 I began a small movement 1233 01:05:13,200 --> 01:05:15,000 which is called 'Dehradun Drum Circle.' 1234 01:05:15,200 --> 01:05:17,480 Through that, I met Abhinav. 1235 01:05:17,560 --> 01:05:19,360 This was a movement 1236 01:05:19,440 --> 01:05:20,880 in which I wanted to 1237 01:05:31,640 --> 01:05:34,000 Ma'am, when we both met, 1238 01:05:34,080 --> 01:05:37,400 we started a foundation called 'Evolve Foundation.' 1239 01:05:37,560 --> 01:05:41,120 We adopted a village named... 1240 01:05:41,200 --> 01:05:43,160 - in Dehradun district. - Which year was this? 1241 01:05:43,320 --> 01:05:45,360 Ma'am, this was in 2015-16. 1242 01:05:52,240 --> 01:05:53,920 What is your story? 1243 01:05:53,960 --> 01:05:57,520 I am from Vikasnagar, which is a small locality near Dehradun. 1244 01:05:57,600 --> 01:06:00,040 I did my primary education from Dehradun. 1245 01:06:00,120 --> 01:06:02,760 And then I did my BBA from HP University, Shimla. 1246 01:06:03,120 --> 01:06:05,360 As a child, I was inspired by my grandfather 1247 01:06:05,440 --> 01:06:07,320 because he was very active in agricultural movements 1248 01:06:07,400 --> 01:06:09,200 and agricultural conferences. 1249 01:06:09,280 --> 01:06:12,680 For post-graduation, I did my MBA in Rural Management from Bhubaneswar, 1250 01:06:12,760 --> 01:06:13,960 in Odisha. 1251 01:06:26,600 --> 01:06:29,520 Or if it can be made in a permanent space. 1252 01:06:29,680 --> 01:06:33,280 We figured out that a permanent space was much more viable 1253 01:06:33,440 --> 01:06:35,960 - than doing a farmer's market repeatedly. - Got it. 1254 01:06:36,040 --> 01:06:38,040 Is that when you established KIWI? 1255 01:06:38,120 --> 01:06:41,760 KIWI Kisan Window was registered as a Private Limited Company in 2017. 1256 01:06:47,880 --> 01:06:49,040 - We're husband and wife. - We're husband and wife. 1257 01:06:49,120 --> 01:06:50,920 It took a long time to tell us that. 1258 01:06:51,000 --> 01:06:52,640 [music playing] 1259 01:06:55,920 --> 01:06:56,880 Wow. 1260 01:06:57,040 --> 01:06:58,760 [music playing] 1261 01:07:06,240 --> 01:07:07,760 Please tell us what this is. 1262 01:07:07,920 --> 01:07:09,600 Ma'am, there is a mouth freshener is that 1263 01:07:14,920 --> 01:07:16,200 Please take very little. 1264 01:07:16,320 --> 01:07:17,760 It's very strong. 1265 01:07:19,560 --> 01:07:20,760 Oh! 1266 01:07:21,000 --> 01:07:22,360 Yes, it is very strong. 1267 01:07:51,760 --> 01:07:52,920 Sea Buckthorn. No, I haven't eaten it. 1268 01:07:53,000 --> 01:07:53,880 I know Sea Buckthorn. 1269 01:07:53,920 --> 01:07:55,360 - But I haven't tasted the jam. - I haven't eaten the jam. 1270 01:07:55,520 --> 01:07:57,280 - It's really good. - It's an anti-aging product. 1271 01:07:58,480 --> 01:08:00,640 And we'd also like to tell you 1272 01:08:00,720 --> 01:08:03,760 that we went to Leh from the Indian Government 1273 01:08:03,840 --> 01:08:06,240 because the Sea Buckthorn there gets wasted 1274 01:08:06,440 --> 01:08:09,240 We went to see how we can do capacity building. 1275 01:08:09,360 --> 01:08:10,400 Why does it get wasted? 1276 01:08:10,520 --> 01:08:12,240 Leh is closed for six months. 1277 01:08:12,320 --> 01:08:13,480 What is Sea Buckthorn? 1278 01:08:13,680 --> 01:08:15,240 - They are berries. - It's a berry, sir. 1279 01:08:15,320 --> 01:08:17,440 What is your competitive advantage? 1280 01:08:18,080 --> 01:08:20,880 We've divided our range of products into two parts. 1281 01:08:21,080 --> 01:08:23,240 One range of products is such 1282 01:08:23,320 --> 01:08:25,040 that defines value. 1283 01:08:25,120 --> 01:08:28,000 Some items, as sir mentioned, you may not have eaten them before. 1284 01:08:28,560 --> 01:08:31,400 And the other range defines the volume. 1285 01:08:31,480 --> 01:08:33,480 For example, I have 'Rajma' from Chakrata. 1286 01:08:33,560 --> 01:08:36,320 Chakrata is a place in Uttarakhand, like Mussoorie. 1287 01:08:36,720 --> 01:08:40,760 Chakrata 'rajma', compared to 'rajma' from Jammu or normal 'rajma' 1288 01:08:40,840 --> 01:08:43,880 gives a thicker gravy and better taste. 1289 01:08:43,960 --> 01:08:45,600 And this is our motive. 1290 01:08:45,720 --> 01:08:47,040 All these pearls 1291 01:08:47,120 --> 01:08:49,880 which I can call as good and unique products 1292 01:08:49,960 --> 01:08:52,600 are used in different regions, territories and states. 1293 01:08:52,680 --> 01:08:54,360 They have recipes of their own. 1294 01:08:54,440 --> 01:08:55,960 But unfortunately, today, 1295 01:08:56,080 --> 01:08:58,920 we don't see these pearls threaded together 1296 01:08:59,000 --> 01:09:01,240 on a single platform. 1297 01:09:01,360 --> 01:09:02,640 We don't see it in retail space. 1298 01:09:02,720 --> 01:09:04,680 So we make sure that our product line 1299 01:09:04,760 --> 01:09:06,840 is not just about the taste of it, 1300 01:09:07,000 --> 01:09:09,360 but we work on its touch, look and feel 1301 01:09:09,440 --> 01:09:12,360 and make it an experiential product. 1302 01:09:12,480 --> 01:09:14,920 It is about bringing all these pearls together. 1303 01:09:16,000 --> 01:09:19,280 It looks like you have products from every corner of the country. 1304 01:09:19,840 --> 01:09:23,440 Have you split them into any logical buckets? 1305 01:09:23,640 --> 01:09:24,360 - Yes. - Yes, sir. 1306 01:09:37,360 --> 01:09:38,320 What is that? 1307 01:09:46,520 --> 01:09:48,680 So they are discovering the food through this 1308 01:09:48,760 --> 01:09:51,000 travel and giving you the food of the world. 1309 01:09:51,240 --> 01:09:54,200 And we are saying that there is so much food variety in our country. 1310 01:09:54,400 --> 01:09:55,880 Let us first bring that to you. 1311 01:09:55,960 --> 01:09:57,120 Have you been to Trader Joe's? 1312 01:09:57,200 --> 01:10:00,520 - Yes, sir. - We visited 20 Trader Joe's in this year. 1313 01:10:00,640 --> 01:10:04,200 In comparison, you have 250 SKUs, 1314 01:10:04,280 --> 01:10:05,640 how many SKUs would their store have? 1315 01:10:05,720 --> 01:10:08,160 - They have 4,000 right? - Anywhere between 4,000 and 5,000. 1316 01:10:09,080 --> 01:10:10,680 Your packaging 1317 01:10:10,880 --> 01:10:12,920 is very colourful and cool. 1318 01:10:13,120 --> 01:10:14,360 Because you've made it for the shelves. 1319 01:10:14,640 --> 01:10:16,960 Is more sold online or offline? 1320 01:10:17,040 --> 01:10:20,000 Sir, 97 per cent of our business comes from offline. 1321 01:10:20,080 --> 01:10:24,120 - Oh. - We started our online business just one quarter back. 1322 01:10:24,320 --> 01:10:26,840 Only three per cent of our business comes from online sales. 1323 01:10:26,960 --> 01:10:28,160 This was our first store. 1324 01:10:28,320 --> 01:10:29,360 What is the size of the store? 1325 01:10:29,440 --> 01:10:31,320 - 250 square feet. - 250 square feet on average. 1326 01:10:31,440 --> 01:10:33,000 This does not look like 250 square feet. 1327 01:10:33,080 --> 01:10:34,920 - It looks nice. - It looks big. 1328 01:10:35,000 --> 01:10:36,080 This is 300 square feet. It has 40 feet in the front. 1329 01:10:37,640 --> 01:10:39,200 You've used a lot of wood. 1330 01:10:39,280 --> 01:10:41,480 - To give the feel of Uttarakhand, right? - Earthy feel. 1331 01:10:42,040 --> 01:10:44,000 Okay, tell us about your business. 1332 01:10:44,200 --> 01:10:47,440 - Tell us everything from revenue to EBITDA. - Right, sir. 1333 01:10:47,600 --> 01:10:52,440 - Last year we made a revenue of 5.06 crores revenue. - Very good. 1334 01:10:53,120 --> 01:10:56,160 Before that we made 4.3 crores revenue. 1335 01:10:56,400 --> 01:10:58,920 And before that it was 3.4 crores revenue. 1336 01:10:59,000 --> 01:11:00,120 What is for this year? 1337 01:11:00,240 --> 01:11:02,400 We've closed at almost 4.5 crores. 1338 01:11:02,480 --> 01:11:04,720 So it will go to eight or nine, easily. 1339 01:11:04,960 --> 01:11:06,880 Sir, our target is ten crores. 1340 01:11:06,960 --> 01:11:09,800 How are you getting such a sharp jump from five crores to ten crores? 1341 01:11:09,960 --> 01:11:10,920 There are two reasons for that. 1342 01:11:21,720 --> 01:11:24,920 Sir, we've raised 80 lakh rupees. 1343 01:11:25,000 --> 01:11:25,960 From an angel investor. 1344 01:11:26,080 --> 01:11:29,000 They are the founders of Team Clovia. 1345 01:11:29,080 --> 01:11:30,040 What was the valuation? 1346 01:11:30,120 --> 01:11:32,080 - 30 crores. - 30 crores. - When did this happen? 1347 01:11:32,160 --> 01:11:34,240 - In May we got money in the account. - Money in the account. 1348 01:11:34,400 --> 01:11:35,640 - May 2024. - Yes, sir. 1349 01:11:35,720 --> 01:11:38,160 What has been your EBITDA for the last three years? 1350 01:11:58,240 --> 01:12:01,760 - You said you have studied Trader Joe's thoroughly. - Yes, sir. 1351 01:12:02,280 --> 01:12:04,880 Do you know what Trader Joe's online strategy is? 1352 01:12:04,960 --> 01:12:07,840 Sir, they market limited products 1353 01:12:07,960 --> 01:12:09,960 - as a part of their online strategy. - No. 1354 01:12:10,920 --> 01:12:12,800 Trader Joe's does not sell online. 1355 01:12:13,320 --> 01:12:17,040 They have created such a cult in America 1356 01:12:17,200 --> 01:12:19,280 that if you want things from Trader Joe's 1357 01:12:19,360 --> 01:12:20,840 and it's not in your city, 1358 01:12:20,960 --> 01:12:23,040 people buy them on eBay. 1359 01:12:23,480 --> 01:12:26,320 If someone else has bought something from Trader Joe's in another city, 1360 01:12:26,400 --> 01:12:30,000 they list it on eBay, and people from other cities buy from them. 1361 01:12:30,240 --> 01:12:31,120 That's true. 1362 01:12:31,240 --> 01:12:32,720 People travel to a city 1363 01:12:32,800 --> 01:12:33,920 to buy from Trader Joe's. 1364 01:12:34,000 --> 01:12:35,440 - Right. - There's a reason 1365 01:12:35,640 --> 01:12:36,920 why they don't sell online. 1366 01:12:37,560 --> 01:12:39,320 Trader Joe's has a lot of freshness 1367 01:12:39,400 --> 01:12:41,320 due to the new selection of products. 1368 01:12:41,440 --> 01:12:45,040 That is why people visit that store, hoping to find something new. 1369 01:12:45,520 --> 01:12:49,120 So, I wonder why you want to do it online if you've studied 1370 01:12:49,360 --> 01:12:51,080 Trader Joe's deeply. 1371 01:12:52,160 --> 01:12:54,880 Sir, we want to be where our customer is. 1372 01:12:55,560 --> 01:12:58,600 Many of our customers, 1373 01:12:58,720 --> 01:13:01,800 around 40 per cent of them 1374 01:13:01,880 --> 01:13:03,440 had visited our stores 1375 01:13:03,520 --> 01:13:06,640 in Dehradun or Chandigarh at some point, 1376 01:13:06,720 --> 01:13:08,960 but they lived elsewhere. 1377 01:13:09,040 --> 01:13:10,840 They cannot buy our products. 1378 01:13:11,080 --> 01:13:13,040 So, we decided to sell 1379 01:13:13,120 --> 01:13:15,920 a limited of our products online. 1380 01:13:16,480 --> 01:13:17,800 These had to be less competitive, 1381 01:13:17,880 --> 01:13:19,600 with a high margin and online-friendly. 1382 01:13:28,160 --> 01:13:29,960 We have 50 per cent cogs. 1383 01:13:30,040 --> 01:13:33,280 Our salaries are around 22.5 per cent. 1384 01:13:33,360 --> 01:13:36,000 - Okay. - Our rentals are around 6.5 per cent. 1385 01:13:36,440 --> 01:13:38,200 The rentals are surprisingly low. 1386 01:13:38,600 --> 01:13:40,520 Our marketing spend is 3 per cent. 1387 01:13:41,000 --> 01:13:42,760 Our logistics are 2 per cent. 1388 01:13:42,920 --> 01:13:45,200 We spend 2 per cent on electricity. 1389 01:13:45,480 --> 01:13:48,120 Our other expenses are 5.7 per cent. 1390 01:13:48,280 --> 01:13:50,680 - Our EBITDA is 5.3 per cent. - No. 1391 01:13:50,840 --> 01:13:51,880 No, it doesn't sum up. 1392 01:13:52,040 --> 01:13:53,400 Repair and maintenance... 1393 01:13:53,480 --> 01:13:55,560 Sorry! Repair and maintenance of the stores is 3 per cent. 1394 01:13:57,160 --> 01:13:59,560 Is your store's average rent Rs 30,000? 1395 01:13:59,720 --> 01:14:03,000 No, ma'am, our store's average rent is around 40,000 to 50,000. 1396 01:14:03,120 --> 01:14:06,200 Then, your 6.5 per cent isn't adding up. 1397 01:14:07,440 --> 01:14:10,480 - What is your store's size? - 250 sq ft, sir, on an average. 1398 01:14:11,680 --> 01:14:13,000 Where are your stores located? 1399 01:14:13,080 --> 01:14:14,520 Two stores are in Dehradun. 1400 01:14:14,640 --> 01:14:15,920 Another two stores are in Chandigarh. 1401 01:14:16,080 --> 01:14:17,480 We have three stores in Mohali. 1402 01:14:17,600 --> 01:14:20,360 We opened one last month in Cyber City Gurgaon. 1403 01:14:20,520 --> 01:14:25,600 Tell us your average store rent and average store sales. 1404 01:14:25,920 --> 01:14:29,000 Our average store rent is Rs 45,000. 1405 01:14:35,240 --> 01:14:38,040 Our lowest-performing stores are the new ones in Mohali. 1406 01:14:47,320 --> 01:14:49,120 Four of our stores are company-owned, 1407 01:14:49,200 --> 01:14:50,120 and four are franchisees. 1408 01:14:50,200 --> 01:14:52,000 What is the model of your franchise? 1409 01:14:52,360 --> 01:14:54,120 Franchisee invested and company operated. 1410 01:14:54,280 --> 01:14:56,840 How much revenue do you share with the franchisees? 1411 01:15:04,640 --> 01:15:05,840 What is the payback? 1412 01:15:05,920 --> 01:15:07,280 What is your payback on your investment? 1413 01:15:07,360 --> 01:15:11,680 The overall payback on the stores is 18 to 24 months. 1414 01:15:11,800 --> 01:15:14,800 - What is your EBITDA at store level? - 20 per cent, sir. 1415 01:15:14,880 --> 01:15:16,800 - Are all the stores profitable? - Yes, sir. 1416 01:15:19,920 --> 01:15:21,760 This box of 'makhana' is for Rs 200. 1417 01:15:22,120 --> 01:15:24,440 Your pricing is too high. It's too premium. 1418 01:15:24,840 --> 01:15:28,280 Sir, there are grades in 'makhana'. There is a grade called A++. 1419 01:15:28,360 --> 01:15:29,600 There seems to be no difference. 1420 01:15:30,040 --> 01:15:31,880 Are your prices on the premium side? 1421 01:15:31,960 --> 01:15:35,160 The products are of high volume and are comparatively high in commodity. 1422 01:15:35,320 --> 01:15:37,440 We kept the price accordingly. 1423 01:15:38,080 --> 01:15:40,160 A few of the product prices 1424 01:15:40,240 --> 01:15:43,040 are near Patanjali and lower than Organic India's. 1425 01:15:43,200 --> 01:15:46,320 Our unique selling proposition is that KIWI gives you 1426 01:15:46,400 --> 01:15:47,360 what you get nowhere. 1427 01:15:47,480 --> 01:15:49,880 Our pricing for those products 1428 01:15:49,960 --> 01:15:51,200 is a little premium. 1429 01:15:51,280 --> 01:15:53,920 We charge a premium for the energy, 1430 01:15:54,000 --> 01:15:57,080 sourcing and ideology behind those products. 1431 01:15:57,720 --> 01:16:01,520 In the beginning, you said you would start a farmer's market. 1432 01:16:02,000 --> 01:16:05,360 So, activists versus business, 1433 01:16:05,480 --> 01:16:08,080 what do you incline more towards? 1434 01:16:08,520 --> 01:16:09,360 My father 1435 01:16:09,480 --> 01:16:13,640 and his forefathers have been running a grocery shop 1436 01:16:13,800 --> 01:16:16,160 in our small city for the past 120 years. 1437 01:16:16,360 --> 01:16:19,040 So, we come from a 100 percent business family. 1438 01:16:19,120 --> 01:16:21,520 I've spent my childhood doing the accounts. 1439 01:16:21,640 --> 01:16:23,480 I didn't want to sit in that shop 1440 01:16:23,560 --> 01:16:27,520 and use my education to develop new ventures. 1441 01:16:27,600 --> 01:16:28,960 I was always looking for that. 1442 01:16:29,080 --> 01:16:32,760 But our primary focus is to build the business. 1443 01:16:32,840 --> 01:16:34,840 Our EBITDA has been positive since the first year. 1444 01:16:42,680 --> 01:16:44,480 ...is beyond us. 1445 01:16:44,560 --> 01:16:46,000 However, we want to do it parallelly. 1446 01:16:46,080 --> 01:16:48,400 We need to be where our customers are eventually. 1447 01:16:48,480 --> 01:16:51,520 We've entered Gurgaon and NCR last month. 1448 01:16:56,240 --> 01:16:58,800 ...in Delhi NCR. We want to operate 1449 01:16:58,880 --> 01:17:00,000 according to the hub and spoke mode. 1450 01:17:00,080 --> 01:17:01,520 We want to give the experience 1451 01:17:01,600 --> 01:17:03,520 that Trader Joe's has by building its cult. 1452 01:17:03,600 --> 01:17:07,640 KIWI Kisan Window also wants to build its cult in various cities 1453 01:17:07,760 --> 01:17:10,000 for those who wish to explore India with food. 1454 01:17:10,760 --> 01:17:13,960 Abhinav and Nurpur, two things are problematic for me. 1455 01:17:15,080 --> 01:17:16,760 Your revenue per store 1456 01:17:17,120 --> 01:17:19,080 has to be significantly higher. 1457 01:17:19,160 --> 01:17:21,400 You must've observed that every quick commerce store 1458 01:17:21,480 --> 01:17:23,480 sells Rs 20 to 22 lakhs daily. 1459 01:17:24,320 --> 01:17:26,840 My second suggestion is 1460 01:17:27,200 --> 01:17:30,440 to condense your payback period to around 12 to 15 months. 1461 01:17:30,640 --> 01:17:32,000 But I am less bothered about that. 1462 01:17:32,200 --> 01:17:35,040 I am more bothered by the volume at a store level. 1463 01:17:35,800 --> 01:17:37,200 I am out of this for that reason. 1464 01:17:37,360 --> 01:17:39,480 But I give my best wishes to you. 1465 01:17:39,560 --> 01:17:43,440 I am confident that I will shop at KIWI Kisan in the future. 1466 01:17:43,640 --> 01:17:45,600 - Thank you, sir. - All the best. - Thank you, Ritesh. 1467 01:17:46,320 --> 01:17:51,040 The numbers seem too good to be true. 1468 01:17:57,720 --> 01:17:59,160 ...fail to do so. 1469 01:17:59,480 --> 01:18:04,120 After doing all this, your EBITDA becomes 3 to 4 per cent. 1470 01:18:05,240 --> 01:18:08,600 So, if you try to take this up to 300 stores, 1471 01:18:08,720 --> 01:18:11,800 your Rs 40,000 rent in tier I and metro cities 1472 01:18:11,880 --> 01:18:15,280 will go up to Rs 70,000 to Rs 1 lakh. 1473 01:18:15,400 --> 01:18:17,200 - Correct. - But your throughput 1474 01:18:17,360 --> 01:18:22,440 going beyond 10 lakhs for a small 250 sq ft store 1475 01:18:22,640 --> 01:18:23,760 will be difficult. 1476 01:18:23,920 --> 01:18:25,760 Some pilots 1477 01:18:25,840 --> 01:18:28,720 may be successful at a smaller scale, but they find it 1478 01:18:28,920 --> 01:18:30,240 difficult to scale up to a larger scale. 1479 01:18:30,320 --> 01:18:32,000 That's why I cannot build conviction 1480 01:18:32,080 --> 01:18:35,200 if there can be an investment here on the valuation of Rs 50 crores. 1481 01:18:35,320 --> 01:18:36,760 For that reason, I am out. 1482 01:18:37,320 --> 01:18:38,400 - Thank you. - Thank you, Vineeta. 1483 01:18:38,480 --> 01:18:40,680 I find it incredible. I feel this business has a future. 1484 01:18:40,760 --> 01:18:43,280 Your logo's tagline, turban, 1485 01:18:43,520 --> 01:18:46,480 moustache and name are a little confusing. 1486 01:18:46,560 --> 01:18:50,440 It's okay for an offline shop. But not for an online platform. 1487 01:18:50,600 --> 01:18:52,800 If you keep KIWI and get rid of the Kisan Window, 1488 01:18:52,880 --> 01:18:54,440 you might appear to be selling kiwis. 1489 01:18:54,800 --> 01:18:57,800 Your model is good and different. I love the packaging. 1490 01:18:57,880 --> 01:19:00,960 The colours you've used and the freshness you've got 1491 01:19:01,040 --> 01:19:02,360 are rare in this category. 1492 01:19:02,560 --> 01:19:07,560 As you've already raised, my mind is unconvinced with the valuation. 1493 01:19:08,280 --> 01:19:10,720 But there's no problem in offering. I'll offer something. 1494 01:19:10,840 --> 01:19:12,720 I'll give you Rs 50 lakhs for two per cent 1495 01:19:13,880 --> 01:19:16,480 plus royalty at the rate of two per cent for two years. 1496 01:19:21,200 --> 01:19:23,160 [laughing] 1497 01:19:23,320 --> 01:19:24,640 Okay, then. Shall we? 1498 01:19:24,800 --> 01:19:26,120 - Thank you for your offer. - I know. 1499 01:19:26,200 --> 01:19:29,800 But we would like everyone's feedback. 1500 01:19:29,880 --> 01:19:31,120 You can take their feedback but don't accept their offer. 1501 01:19:31,240 --> 01:19:33,440 Overall, 1502 01:19:33,520 --> 01:19:37,600 the broader concept seems exciting and positive to me. 1503 01:19:37,960 --> 01:19:41,880 - I would happily join Aman if he's okay with that. - Yeah. 1504 01:19:42,640 --> 01:19:45,120 So, for now, our offer is is Rs 50 lakhs for two per cent 1505 01:19:45,200 --> 01:19:47,280 and royalty at the rate of two per cent 1506 01:19:47,320 --> 01:19:49,640 until we get Rs 1 crore back. 1507 01:19:58,520 --> 01:20:01,400 Secondly, the gross margin is too low. 1508 01:20:01,800 --> 01:20:05,120 That's why the economics are stressed. 1509 01:20:05,200 --> 01:20:08,960 But you might succeed at negotiating better terms with higher volume. 1510 01:20:10,040 --> 01:20:13,440 I am interested in this space and have a little knowledge. 1511 01:20:13,680 --> 01:20:17,280 - I've also studied Trader Joe's. - We can see that. 1512 01:20:19,640 --> 01:20:21,400 Have you read their founder's book? 1513 01:20:21,480 --> 01:20:24,440 - Oh, my God! - We're coming to Trader Joe's. 1514 01:20:24,600 --> 01:20:26,000 I am testing them. 1515 01:20:26,120 --> 01:20:30,200 - It's there at our desk in our office. - Good. 1516 01:20:30,600 --> 01:20:31,720 So, I will give you an offer. 1517 01:20:32,360 --> 01:20:34,960 I offer way too little on Shark Tank. Okay? 1518 01:20:35,040 --> 01:20:36,400 He says the same thing while offering every time. 1519 01:20:36,480 --> 01:20:37,920 It's our honour, sir. 1520 01:20:38,000 --> 01:20:39,920 You'll know that after hearing the offer. 1521 01:20:40,000 --> 01:20:42,120 - Is it an honour or... - We got the feedback, too. 1522 01:20:42,400 --> 01:20:44,440 So, I will give you two offers. 1523 01:20:46,200 --> 01:20:47,240 - Okay? - Azhar? 1524 01:20:47,800 --> 01:20:48,800 It's the same valuation. 1525 01:20:49,640 --> 01:20:50,680 No royalty. 1526 01:20:50,880 --> 01:20:52,120 One offer is 1527 01:20:52,320 --> 01:20:53,480 ten percent 1528 01:20:53,720 --> 01:20:54,800 for Rs 2.5 crores 1529 01:20:55,120 --> 01:20:56,920 and Rs 25 crore valuation 1530 01:20:57,400 --> 01:21:00,160 or five per cent for Rs 1.25 crore 1531 01:21:00,480 --> 01:21:01,800 and Rs 25 crore valuation. 1532 01:21:04,040 --> 01:21:05,120 In my opinion, 1533 01:21:05,320 --> 01:21:08,280 you need to rework your branding. 1534 01:21:08,520 --> 01:21:11,280 - Yes. - Becoming an online brand has two benefits. 1535 01:21:11,360 --> 01:21:13,240 One, your online sales will increase. 1536 01:21:13,320 --> 01:21:16,280 Second, your offline will see an uptake. 1537 01:21:16,800 --> 01:21:18,880 Once your brand grows a little, 1538 01:21:18,960 --> 01:21:21,240 franchisees will also start contacting you 1539 01:21:21,360 --> 01:21:24,000 to open a shop. 1540 01:21:24,160 --> 01:21:27,120 We can start with the distribution once it becomes a brand. 1541 01:21:27,200 --> 01:21:29,680 It might have a pickup. There is a chance. 1542 01:21:30,400 --> 01:21:32,280 We'll indeed have to work on the pricing. 1543 01:21:32,480 --> 01:21:34,200 It seems a bit expensive. 1544 01:21:34,360 --> 01:21:37,320 We'll revise our offer. Two sharks are coming together. 1545 01:21:38,680 --> 01:21:40,160 We'll get rid of the royalty. 1546 01:21:40,520 --> 01:21:42,800 The offer remains the same. 1547 01:21:52,600 --> 01:21:54,200 - for... - Five per cent. 1548 01:21:55,480 --> 01:21:58,360 - You can think about it outside and let us know. - Sure. 1549 01:21:59,200 --> 01:22:00,800 - All the best. - Thank you. 1550 01:22:01,440 --> 01:22:02,560 No royalty. 1551 01:22:05,360 --> 01:22:07,120 You spoke about your branding pitch. 1552 01:22:07,200 --> 01:22:08,600 I am fighting against Trader Joe's. 1553 01:22:08,680 --> 01:22:09,920 Trader Joe's! 1554 01:22:10,000 --> 01:22:12,240 I go deep into whatever I like. 1555 01:22:12,720 --> 01:22:14,840 2.5 crores for 10 per cent. 1556 01:22:15,360 --> 01:22:16,480 25 crores. 1557 01:22:17,200 --> 01:22:18,960 It's just like Anveshan. 1558 01:22:19,040 --> 01:22:20,320 The vibe is similar, but it's different. 1559 01:22:20,400 --> 01:22:21,920 We both made money on it. 1560 01:22:22,440 --> 01:22:24,000 Yours is ten per cent, mine is one. 1561 01:22:24,080 --> 01:22:25,240 [laughing] 1562 01:22:25,400 --> 01:22:27,640 No problem. We're still together. 1563 01:22:35,640 --> 01:22:39,320 We have a counter for you, Kunal. 1564 01:22:41,080 --> 01:22:43,560 Can you match our last valuation 1565 01:22:43,680 --> 01:22:45,680 for Rs 2.5 crores? 1566 01:22:46,920 --> 01:22:50,120 I was going to give you a valuation of Rs 20 crores. 1567 01:22:50,200 --> 01:22:52,960 The other founders 1568 01:22:53,080 --> 01:22:55,320 ...are like a family. 1569 01:22:55,800 --> 01:22:58,640 I didn't want to be disrespectful, so I made it 25. 1570 01:23:01,680 --> 01:23:05,600 But I am fixed on ten per cent. I don't want to go lower. 1571 01:23:05,800 --> 01:23:07,960 [pensive music playing] 1572 01:23:11,880 --> 01:23:14,800 - So, Shark Kunal, the deal is final. - The deal is final. 1573 01:23:15,160 --> 01:23:16,840 Oh! Fast decision! 1574 01:23:16,920 --> 01:23:18,440 Trader Joe's defeated us. 1575 01:23:23,760 --> 01:23:25,080 With your help, 1576 01:23:25,200 --> 01:23:26,440 we can become Trader Joe's. 1577 01:23:26,520 --> 01:23:29,000 But you have that book. Why do you want another one? 1578 01:23:30,840 --> 01:23:32,000 I feel a little bad. 1579 01:23:32,280 --> 01:23:35,680 - But it's okay. - But, sir, if we ever meet... 1580 01:23:35,760 --> 01:23:37,600 Am I a fool? 1581 01:23:37,720 --> 01:23:40,440 I won't eat your 'makhanas'. 1582 01:23:40,520 --> 01:23:41,560 We will send it to you. 1583 01:23:41,640 --> 01:23:43,880 I will send you that again. 1584 01:23:43,960 --> 01:23:45,840 Take the cheque and leave. 1585 01:23:46,640 --> 01:23:49,080 I think you should say, 'We snapped this deal.' 1586 01:23:49,200 --> 01:23:50,760 - Yes. - Yeah. 1587 01:23:54,920 --> 01:23:56,520 [camera shutter clicking] 1588 01:23:57,800 --> 01:23:59,440 - Thank you. - All the best. - Thank you. 1589 01:23:59,960 --> 01:24:01,840 - The door is there. - Thank you. 1590 01:24:01,920 --> 01:24:02,520 All the best. 1591 01:24:02,600 --> 01:24:04,520 - Thank you. - All the best. Congratulations. 1592 01:24:04,640 --> 01:24:07,040 - Thank you. - Good job. - Have fun, enjoy. 1593 01:24:12,360 --> 01:24:15,600 Nupur and Abhinav, how does it feel to get the deal? 1594 01:24:15,760 --> 01:24:18,080 - Amazing! - Amazing? 1595 01:24:18,160 --> 01:24:19,960 - You don't know what's happened. Right? - Yeah. 1596 01:24:20,040 --> 01:24:21,640 I don't know it. It's overwhelming. 1597 01:24:21,720 --> 01:24:22,760 You can't digest it. 1598 01:24:22,840 --> 01:24:26,280 The responsibility has also increased. 1599 01:24:26,360 --> 01:24:29,960 - Yes. - We want to be India's first Trader Joe's. 1600 01:24:30,080 --> 01:24:33,480 I know what you didn't say in the tank during the pitch. 1601 01:24:33,560 --> 01:24:36,560 - You come from a family of female entrepreneurs. - Yes. 1602 01:24:36,640 --> 01:24:38,560 So, I hope my viewers know this now. 1603 01:24:38,640 --> 01:24:40,120 I've ordered gifts for you 1604 01:24:40,200 --> 01:24:42,520 from Swiggy Instamart. it was here in ten minutes. 1605 01:24:42,680 --> 01:24:43,480 Wow! 1606 01:24:43,560 --> 01:24:45,360 That was very instant. Thank you. 1607 01:24:45,880 --> 01:24:47,360 This is not only for you 1608 01:24:47,440 --> 01:24:50,200 but because you come from a family of amazing women, 1609 01:24:50,360 --> 01:24:52,680 these are some ornaments and purses. 1610 01:24:52,960 --> 01:24:54,280 They are not stereotypical products. 1611 01:24:54,360 --> 01:24:56,160 I also ordered diaries, books and pens. 1612 01:24:56,280 --> 01:24:57,640 - Thank you so much. - Thank you. 1613 01:24:57,720 --> 01:24:59,400 Please enjoy and keep doing 1614 01:24:59,560 --> 01:25:03,000 what you do. I am happy you got this deal. 1615 01:25:03,200 --> 01:25:04,280 - Thank you. - Thank you. 1616 01:25:04,440 --> 01:25:07,120 Guys, if you want anything, order it from Swiggy Instamart. 1617 01:25:07,200 --> 01:25:08,360 You will get it in ten minutes. 1618 01:25:08,440 --> 01:25:10,440 'Ask the Shark.' 1619 01:25:15,680 --> 01:25:18,160 ...the co-founder of Snapdeal and Titan Capital. 1620 01:25:18,280 --> 01:25:20,080 Sir, I feel so good to meet you. 1621 01:25:20,400 --> 01:25:21,560 Here's our question. 1622 01:25:21,720 --> 01:25:24,720 My name is Kruthika. I am 29 years old, and hail from Odisha. 1623 01:25:38,160 --> 01:25:41,000 I remember this happened in 2008. 1624 01:25:41,280 --> 01:25:43,840 The company had only Rs 50,000. 1625 01:25:44,080 --> 01:25:47,200 We had to pay a salary of Rs 5 lakhs the following month. 1626 01:25:47,640 --> 01:25:49,800 Rohit, my co-founder, 1627 01:25:50,160 --> 01:25:53,680 and my bank account had a total of Rs 5 lakhs left. 1628 01:25:53,960 --> 01:25:55,640 We had two options at that time. 1629 01:25:55,880 --> 01:25:59,560 One option was to shut the company 1630 01:25:59,800 --> 01:26:02,960 or to invest all our savings 1631 01:26:03,400 --> 01:26:05,640 back in it 1632 01:26:05,880 --> 01:26:08,680 - and see what happens next month. - Okay. 1633 01:26:08,880 --> 01:26:10,560 Rohit and I thought over it. 1634 01:26:10,840 --> 01:26:14,240 We invested all our money in the company. 1635 01:26:14,440 --> 01:26:17,280 After all that, Rohit and my bank account had Rs 26,000 left. 1636 01:26:53,880 --> 01:26:55,840 If you want me to ask Sharks your question, 1637 01:26:55,920 --> 01:26:57,360 go to the Sony LIV app, 1638 01:26:57,440 --> 01:26:59,640 choose your favourite shark and send your question. 1639 01:26:59,720 --> 01:27:01,120 I'll meet you in the next Ask the Shark 1640 01:27:01,200 --> 01:27:02,760 with a new question and a new shark.