[theme music playing]
[music playing]
[music intensifies]
Flying Beast.
Whose brand is it?
The influencer, Flying Beast.
Gaurav Taneja?
Is he going to come? He's a mega influencer.
You are bigger, bro!
You are an inspiration.
- Oh! Thank you! - Oh!
All right!
Bring it on! Bring him on.
[music playing]
The set looks great. I should make a reel.
- Yes, do it well. - Okay!
Buy fitness!
I said, buy fitness. Don't you get it?
This box will change your life.
- Listen to me and buy protein. - Hey!
Enough! He would rather consume poison. Give it to me.
Is this how you make a reel?
Sharks, nowadays, every founder
wants to be an influencer.
I don't know how.
Give that to me!
And influencers want to be founders.
Wow, good one!
[music playing]
Sharks, now that we are here, let's make a reel.
- Let me teach you. - Okay!
Hello, friends! My name is Gaurav Taneja.
Today, we've come straight to the set of Shark Tank from Gurugram
to burst myths
with Beast Life.
So, Sharks! Are you ready?
Today, we will play Myth or Fact with you.
I will tell you something
and you have to tell me if it is a myth or a fact.
Kunal, let's start with you.
Should whey protein be consumed only by bodybuilders like me?
- No! - You are right!
Everyone should consume protein
depending on their body weight.
Vineeta, now you.
Does consuming protein
- make women manly? - No!
- Right! - It builds muscle.
Peyush and Aman.
Does consuming protein
cause protein farts?
Protein farts?
Why did you ask that question to me?
You could have asked another protein-related question to me.
[laughing]
- No... - That shouldn't be the case.
- Yes! - But indigestion can be caused by any food.
If you're consuming protein
that your body can digest easily,
you won't experience protein farts.
Anupam, the last one is for you.
Are there steroids in proteins?
There shouldn't be, but you never know.
Protein is derived from milk,
which is used in many baby formulas.
But people are scared of consuming protein.
Around 70% of brands in India
make claims on their labels
but fail to deliver on them.
To solve this problem,
we bring to you Beast Life.
Beast Life is a health supplement brand
our label claims are unverified,
we will reward them with Rs. 10 lakhs in cash.
And ever since we've launched our product,
guess what?
No one was unable to make such claims.
- Wow! - Sharks,
on the first day of the launch, that is 10th May
in the first hour, we made a sale of Rs. 1 crore.
Sharks, Beast Life
is not just health and supplement brand.
This is a healthy way of life
that we aim to gradually spread across the entire country
with your help.
So, our ask is
Rs. 1 crore of 1% equity.
For people who don't know you,
share your journey with them.
How did you become an influencer?
How did you two meet and start this?
Vineeta, I was born in Kanpur.
I did my schooling in Kanpur.
I completed my engineering from IIT Kharagpur.
My father wanted me to do Master's
in Civil Engineering. I had no interest in that field.
So, I went to the US to become a pilot.
I completed my flight training there.
There was a recession going on, especially in the airline industry.
I worked in a few places as a flight instructor.
I began flying as an airline captain in 2010.
I did that for 10 years.
- Flying for which airline? - Indigo.
- And then AirAsia for one year. - Okay.
When I was attending the show, I saw
people on stage
and 5,000 people were applauding.
I wanted this feeling.
I decided to compete next year, I made a commitment to myself.
I prepared. The next year I went on stage.
I won Mr. Delhi in my first contest.
No, I was doing that simultaneously.
- While being a pilot? - Yes.
And then my journey as an influencer started.
I have a channel called FitMuscle TV.
I wanted to attract new viewers.
I started lifestyle vlogging because I used to travel.
This journey started in December 2017.
I completed my schooling and graduation from Lucknow.
After that, I went to Gurugram.
I started working with a few companies
such as Mamaearth, mCaffeine
and Dr. Morepen.
I worked over there and handled e-commerce businesses.
Varun connected me with Gaurav.
He mentioned that Gaurav is starting a business.
- Varun, the founder of Mamaearth. - Yes!
He suggested that we build a business together.
I agreed to take this risk.
And I joined Gaurav in his venture.
Gaurav, tell me something.
...or even starting their own ventures.
Why did you choose a different path?
Honestly, I didn't want to pursue an MS.
I am from Kanpur and there is a flying school in Kanpur.
In winter, I used to see planes fly from my roof.
So, I always felt that it will be fun to fly a plane.
That is how I became passionate about it. When I went to the US,
within one and a half months I completed my private license.
Within 20 days, instrument rating.
I completed my course within 6 months.
Usually, it takes 2 years to complete that course.
- You completed IIT, right? - I did, sir.
A lot of influencers who are making brands
are in the West. And I believe
going forward, more people will do that.
This is just a scratch on the surface.
You mentioned the time you first launched.
Your product was likely bought by your fans and influencers.
Yes! Sir, we were discussing and I asked Raj
- whether we will make Rs. 6 crores in a year. - Yes.
- And then? - That was the plan. When we launched,
the Shopify notifications kept ringing non-stop.
- We didn't know what was happening. - Wow!
We were sitting for the veneration and the priest was asking us to focus.
We were unable to focus because the notification wouldn't stop ringing.
We had already started marketing the product
to his followers.
Our website was already ready. We have already shared numbers.
Our website was password-protected.
Password-protected!
We sent it on 30,000 numbers.
- And within an hour our net sales were Rs. 1 crore. - Crazy!
- In a password-protected website? - Yes.
- Oh my God! - That is a dream for a lot of businesses.
Can you tell us
how much you earn with 1.7 million followers
if you do full-fledged influencer work?
How much do we earn? My wife will hit me, ma'am.
- Tell us. - You've come here for investment.
If you are unable to disclose information,
then we don't know what we are investing in.
- But that is my personal income. - No, it is not.
This is not right. It's not just about creating a personal image
That's not the game I play, at least.
So, if you want to play that game, let me tell you, I am out.
If you are really here for investment
instead of marketing, which is great if you...
You've come so far, go ahead with it.
Then that's fine. That's my perspective.
Tell me something. In India, those who
- have 100k followers... - Say 1 million.
Let's assume 1 million followers.
- Rs. 10 lakhs a month with 1 million followers. - Yes.
People don't unsubscribe much on YouTube,
- but people unfollow on Instagram. - Correct.
The active views are around 6 lakh
when I upload daily content.
If the content is well-planned,
we get more than 1.2 million views.
How many monthly unique views do you have on YouTube?
We prepared our business-related numbers and not YouTube.
- Don't you remember the numbers? - Sir, I didn't know
- that you will discuss that. - Okay! Share your business numbers.
Don't get so excited about the product.
If we are investing, we should check the numbers.
- He is not sharing his personal income.
No, that's their marketing channel.
- That is the marketing channel. - Get it!
Without that, how do I make a decision?
How many monthly active users do you have?
From the top of my head, I think
we have around 4-5 million.
Want to do multiple brands
- and celebrities do the same. - Correct.
- Cricketers do them as well. - Correct.
Which zone are you in?
Currently, I am not in that zone, sir.
When I started, I wanted
this to be a sustainable business.
I want to be at a place where, six years from now,
I just want to delegate tasks
while the work goes on simultaneously.
I want to make hard decisions where my expertise is required
or take it to the next level. We're discussing this with our team.
It's Rs. 1,000 crore business. What next?
[laughing]
You are a good influencer but a terrible entrepreneur so far.
- Okay, sir. - I am sorry, but...
- I am learning. - You should know that you cannot
outsource entrepreneurship.
The bigger your business is, the more responsibility.
One last question. Did you start another business?
- Yes, sir. - What is it?
- It's called Rosier Foods. - Okay!
A2 Ghee, oils, stone-pressed oils.
- We launched it. - When?
- We started it on 9th April. - This year?
I have signed an NDA with the founder.
He wants to keep that separate
because I am pitching for Beast Life.
We didn't get the details of that business.
[laughing]
What is your equity structure in this business?
Gaurav owns 40% of the business.
- Varun owns 30% of the business. - What?
I own 11% of the business.
And rest is ESOP.
Okay, got it.
Does he own this business as an investor or a co-founder?
- He is our partner. - Okay!
- How much did he invest? - Rs. 2 crores.
We have taken incubation capital from Gaurav and Varun.
- Wow! The protein shake is ready. - Yes.
- So, cool. - Aman, this is for you.
Thank you, sir.
This one is for you.
This is Chocolate Concentrate.
Chocolate Concentrate.
- This is nice. Are these your products? - Yes.
- I used to consume protein in the past. - Okay.
But I started having stomach issues.
I am not claiming that all the products are bad.
- Correct! - Some products are nice.
Most of the products are not good.
Protein in general is composed of 20 amino acids.
Many people use cheap amino acids
in their protein.
- If you test... - You're claiming that your whey protein is better.
Sir, it's simple.
If the input is good, then the output is good.
The high-end brand that trainers
- recommend is. - Correct.
...is the expensive one.
Isolate is more expensive, concentrate is cheaper.
- What is the difference between the two? - When the milk is curdled,
solid and liquid are separated.
The liquid contains whey,
which undergoes a filtration process.
With each filtration step, protein continues to be extracted,
and fats, cholesterol,
and carbohydrates are removed,
increasing the purity of the whey.
If you leave it for a certain period,
it becomes a concentrate. Further purification
makes it closer to pure whey,
which increases the cost of purification.
That's why concentrate is widely used.
Those who don't have issues with lactose typically use concentrate.
And the reports were published in the news and on Twitter.
It was found that the ingredients in most powders are not safe.
If someone wants to see the data,
what proof do you have that
this is much better than the fake Indian whey protein?
We invite people from Eurofins lab.
Our batch is in front of them. We have around 50 batches.
They can go and pick any.
In their report, they clearly mention 'sampled by Eurofins'.
We buy the raw materials and give it to them.
Exactly!
But I can't see that anywhere on the packaging.
Sir...
By mentioning 'pure' on the packaging,
people might not believe it.
And what happens if you don't mention it at all?
Sir, we are communicating
through our channels.
They find this effective
- and they are taking it well. - Understood.
Gaurav and Raj, share your sales. Where are you at?
In the last six months,
- we've made sales of nearly Rs. 14 crores. - Crazy!
How much are you projecting this year?
Our sales will be more than Rs. 35 crores this year.
This is the first year of operation.
Yes, sir.
Tell us the unit economics.
After tax, our net sales are Rs. 100.
In Rs. 100, 58% is my COGS.
- Wow! - Around 12% is marketing
and commission.
Approximately 10% is our logistics,
warehousing and packaging cost.
And 10% is our operating expenses with salaries,
tech expenses and all this.
Our EBITDA is 10%.
How big is the whey protein market?
More than Rs. 7,000 crores.
- In India? - Online and offline, both in India.
Who is the biggest player?
Optimum Nutrition is the biggest player.
- What is their size? - Around Rs. 1,400 crores.
- And MuscleBlaze? - Rs. 1,000 crores.
I have a feeling that you are running the business
and this is your business.
While others are just investors.
Do you use him for marketing
and Varun for his knowledge?
Sir, when I was discussing this,
I was working.
I was on a salary.
I thought that it could be a big opportunity for me.
- 11% is huge... - I agree.
- You are not involved in other businesses, right? - No!
The one with the most skin in the game here
is you with the least equity.
He has a couple of businesses going on.
He has an influencer business and a ghee business.
Varun has Mamaearth.
You are solely managing this business.
I have a perspective here. When an influencer starts a brand
and if it doesn't do well,
his name is behind it.
He will start another brand.
As an influencer, their name is everything.
How much time do you both invest
- in this business? - Sir...
We meet three or four days every week in our office.
We don't get time during the day as we are working with them.
This is a part-time business for Varun.
If he has a few more businesses,
he will barely show up.
Am I right, Gaurav?
- No, sir. - Why not?
Sir, the product is called Beast Life.
I've given it my all.
Believe me, sir. It means everything to me.
If this doesn't do well,
I won't be able to run another business.
This is my life, and I've poured my life into this product.
- Then why do this other business? - Yeah!
[tense music playing]
I believe we waste our time a lot.
The youth also waste a lot of their time.
When I was flying, I was competing in bodybuilding.
I was good at flying and won many competitions too.
When I cracked IIT, I was not in India.
I was studying computer science from BITS Dubai.
You seem unstable.
Today it's one, tomorrow it will be another.
You might feel that I am unstable.
But when this product is successful, you won't feel that way.
If the other business is successful, you can exit this business.
Both will be successful. All of you have invested in many businesses.
There is a difference between being an investor and a founder.
We are the founders of one company.
As an investor
- it's a different proposition. - Understood.
- As a founder, it's a different proposition. - Correct.
Gaurav and Raj, I am out.
[music playing]
If you had only one business to your name,
and both the founders had a meaningful stake,
I would have invested.
The founder has 11%.
So, I can't put my money in that.
Where both founders are concerned,
the other two founders, Varun and you...
I cannot be involved in this.
So, unfortunately, I am out.
As an influencer,
your numbers are Rs. 1 crore in one hour and Rs. 35 crores in one year.
The numbers are mind-blowing, right?
When it comes to Rs. 35 crores,
you have 9.7 million followers
- and they know about this. - Yes.
If you want to make this business a Rs. 1,000 crore business,
- will you have to make 100 million followers? How will it grow? - No!
Other businesses don't have followers,
but they make a huge business.
But that is your power.
That power helped to kick start the business.
And that's why... We knew our power and strengths on day one.
And we know what we have to do when that exhausts.
Up until now, the story of this business is,
'Trust this brand because'
'Flying Beast has given credibility to this.'
Right? So, people who had to believe in that credibility, they did.
Beyond that, why would others trust this product
compared to Isopure
MuscleBlaze and The Whole Truth?
Until now, our sales are Rs. 14 crores.
Our sales of around Rs. 7 crores are through influencers.
We made the rest of the amount because we cracked digital marketing.
Our performance marketing is quite good.
Our ROE is 4% on Meta.
...in the past, I've managed a business
which is Rs. 200-Rs. 300 crores as well.
I feel that if I can build Rs. 200-Rs. 300 crore businesses
for someone else by collaborating with them,
I can definitely build at least that much for my business.
And perhaps, during that journey, I'll learn
how to create a Rs. 1,000 crore business.
Let me share a story with you.
I was like you when I started.
I was a big star in my mind.
But when you have that attitude,
you feel you can do anything.
I used to feel the same way.
I didn't just start India's first
matchmaking business, Shaadi.com.
I also started India's first mobile gaming company as well.
I started with a digital ad agency, which remains the largest in India.
Right? We started Makaan.com.
But ultimately, I understood
that you cannot allocate a set time in start ups.
You have to be available all the time.
Fortunately for me,
we lost a lot of market share in Shaadi.com. It was almost dead.
I exited the rest of the businesses.
Today, Shaadi.com, coming from
the very low, is the largest.
Simply through focus.
When we invest in founders,
we want to see
when people barge into this industry and when that happens.
What will you do then? You will get caught between milk, all this
and influencers.
It's not that I don't trust you.
But I have more trust in Indian entrepreneurship.
Because they have excitement,
passion, and the ability to work hard,
they won't let a part-time entrepreneur win.
That's the reason I am out.
Take my lesson and learn fast.
Firstly, Gaurav, I believe you are a powerful entrepreneur.
And you mentioned that you use your time efficiently. I have no doubt.
I can see that you have achieved a lot in a short span.
I've been running Lenskart for 15 years.
I still work 20 hours a day.
My only break from my company is Shark Tank.
And yet I am on calls till 1:30 am.
I conduct a meeting at around 7:30 and then come here.
There are many ups and downs in a startup. It tests everything.
It is not a rosy day every day.
If even one post you upload is wrong,
you will lose your social media channel the company has to live.
If you want to build that, it will take more than this.
Today, I don't think you need me.
I'll just be another investor.
You don't need my guidance. That's why I am out.
But what you are doing, I have no problem with it.
I believe in influencer-led brands.
I have started a Korean skincare company
in partnership with Kareena,
and we have seen the power of her influence.
In the last season, I invested in AdilQadri perfumes.
They've also turned it into a Rs. 100 crore business.
They're doing super well.
This category is also quite interesting.
It is a market of Rs. 7,000 crores.
I have one challenge.
There is only one reason for you to be here.
Marketing for Beast Life.
And you've accomplished that
as this episode airs.
I don't think
you need my Rs. 1 crore for 1% or value it.
I don't think I will be able to add value to it.
And for that reason, I am out. But best of luck.
This is a classic situation
where the heart says 'yes' but the mind says 'no'.
Why the mind says 'no' is that I think this stage
is beyond my comfort zone for investing.
We invested in Mamaearth. We were the first investors
when they were making sales of Rs. 10 lakhs.
We had invested for the valuation of Rs. 25 crores.
It seems to me that you've surpassed that stage.
At this point, you need a Rs. 100 crore valuation.
The ownership I'd require
might not align with what works for both of us.
So, I'm out.
- Thank you so much. - All the best.
- Best of luck! - Thank you, Sharks.
- Thank you, everyone! - Good luck, Gaurav. Keep it up.
[music playing]
Rs. 35 crores in 11 months
- is mind-blowing. - It's not Rs. 35 crores.
Why do you get carried away so much?
It's Rs. 14 crores in six months.
That was his projection. Don't ever work on projection.
Here's my problem. We read news
about influencers creating brands.
You mentioned Kareena. Of course, she has power.
But she's not the founder.
He is pitching himself as a co-founder.
Which influencer's brand has made a lot of money for their investor?
No one ever imagined that influencers
who weren't from the TV or film industry
would make more money than them.
This came as a shock to everyone, because this is blowing.
So, all we can do is work. We can control that.
Rest is all upon God.
If the founder with 11% had the majority stake,
and these two had a smaller stake,
then this would be an invest able business.
Even if I had 1% stake,
I would've still worked with the same enthusiasm.
When I had a job,
even then I've stayed up to work.
What matters isn't how big the plate is,
if your share is small, make the plate bigger.
So, we should focus on that.
Trust me, it has stopped.
This reminds me, I still haven't sent what she asked me to get.
I should order it. Let me do it.
Bread. Healthy bread. Brown bread is good.
Some apples. Added.
Strawberries...
The mixer grinder stopped working. I'll order it.
Done! Order placed.
It will be delivered in 10 minutes.
Now, I am all prepared. Go and order something.
Order now.
'Shark Tank India, co-presented by ACKO Insurance,
'PokerBaazi and Swiggy Instamart.'
'Co-powered by Adani, and Jaquar Bath and Light.'
'And partners, Rayzon Solar, ICICI Direct, '
'Lenskart and Sofy.'
[song playing]
Check out the founder.
[song playing]
'Hotter than hell!'
[song playing]
- Super! - Well done, guys.
- Wow, nice boots. - All right!
Hi, Sharks!
Sharks, you must be wondering
who is this dashing young man here.
You must have realised by now
from my skin and my vibe.
Right, Aman?
- Don't embarrass me, bro! - Okay! Okay, bro!
Sharks, I've been running a garment business for many years.
I know the risks of this business.
I believe that in life,
no matter what you do, it's more important that you truly feel it.
And that happens
when prices are affordable,
it's your own brand and everything is on point.
Dad always had the experience.
And we have a manufacturing unit.
So, we thought of starting a brand.
I made Angel my Gen Z informant
and we created our own brand, Go Devil.
...where we sell casual, athletics,
And they've gone viral.
The best thing is that
people like me can also wear them.
We have a manufacturing unit.
We can also make 5,000 pieces every day
and launch a new collection every month.
So, our ask is Rs. 80 lakhs for 2% equity.
- Wow! - Well done.
- Thank you, guys! - Thank you,
- very good-looking people. - Thanks, guys.
- Thanks! - Good work.
Vinish and Angel.
It was a good pitch. It was fun.
Before getting to your business, we would like to know
about your history.
I am from Karnal.
I wanted to do a business
because my dad worked in the private sector.
Back then, in Karnal,
- leather shoes were booming because of Liberty. - Hmm.
We wanted to export leather.
There was no internet.
There was barely anything.
There were ads in Hindustan Times in their business column.
There was an ad stating, 'We are looking for suppliers'
'for leather goods.' Something along those lines.
We went and spoke with him.
That is where my first export order started.
We started the first deal in 1998.
- Where did you export? - In the USA.
- I was around 21 years old. - That feels good, right?
- I was young. - It is something when you
buy your first car with your money.
I didn't know how to drive, but I somehow drove it.
And... I was good with sourcing.
We did samplings. And with the help of the third party,
we started making garments.
But that doesn't matter anymore.
We should move on.
Nice! But did you buy a new car in those ten years?
Sir, in those ten years I bought
a Ford Endeavour and an Audi Q5.
- Whoa! - Which car did you buy for Angel?
- She is still... - None!
- Why? Your dad made a lot of money. - I don't have a driving license.
Your dad could hire a driver.
- It is no big deal. - I am the driver, sir.
[laughing]
Bro is chill.
- Okay! Do you call him 'bro'? - Yeah!
My daughter used to call me 'bro', now she says 'no bro'.
Now it's 'dude'.
- Yeah! I say 'bro' and 'dude.' - I've graduated.
What happened in 2021?
In 2021, I felt
that I needed to slow down on exports.
...to make a brand instead of exporting.
Yes, sir. Because of the surroundings...
Online was booming.
We followed people like you
and saw how you created a brand.
I wanted to leverage my strengths.
I won't leave like this.
My strength was that
I've been working for the last 12 years.
I have a supply chain in place, and the fabric suppliers are ready.
Everything was ready.
So, I thought I should leverage that.
Did you hit a sixer?
Yes! I didn't think I could do it,
but I had to take the initiative and play on the front foot.
In the first month,
I made sales of Rs. 5 lakhs online.
No! On my website, which is through Shopify.
Were you doing the designs and everything else yourself?
My thought process went behind it
about how to take this brand forward.
I've heard about 'clutter market'.
We knew that we were headed towards that zone
where we might not be seen by everyone and is crowded.
- But that's the challenge, to make a place in the crowd. - Yes.
I have worked with brands.
I had to play with the name.
When will you pause? While you scroll on Instagram,
you would want to see what Go Devil is.
What do they cater to?
- Very good. - That's where I gained the edge.
Who came up with this name?
Sir, the four of us came up with this name.
Me, my wife, and both my daughters.
Because they are Gen Z's and millennials.
Angel, we want to know your story.
And I am in the third year right now.
- But you are not full-time. - No!
But she helps a lot in the designing part.
She is updated about what's going on.
What are people wearing in college?
Who is your primary designer?
It is our thought process.
- Designing... - What do you mean by that?
- Me, sir. - Do you decide?
Together we come up with
- how to go ahead with this. - Okay.
For example, 'Hotter than hell...'
I asked if that was fine. She approved.
Where did you come up with 'Hotter than hell?'
These phrases are trending, sir.
You are looking hotter than hell.
Okay!
You are quite observant.
Yes, sir! It is necessary.
Without that,
how will we grow in life?
So, we have to be observant.
Show us the samples.
Thank you, sir.
Kunal sir.
Thank you.
Thanks a lot.
I like what you are wearing.
- You've paired it well with the boots. - Thanks.
Is purple your favourite colour?
No, sir. It's trending.
- Do you watch Shark Tank? - Yes, sir.
I wear purple every year.
Please check, sir.
- Oh! - Is it purple? Awesome!
Oh nice, bro!
The material quality is good.
Thank you, ma'am.
When customers think of Go Devil,
what should be the first thought they have?
They should think of
our co-ord sets as being trendy and cool.
And I think we played
around that.
So, are co-ord sets the identity for Go Devil,
or are they also the primary sales driver?
It is both. It is also a primary sales driver.
How much percentage of business comes from co-ord sets
- for both men and women? - The total is more than 50%.
How much is this set for?
- This set is for Rs. 1,499. - Very good.
Just give me a sense of the pricing of 3-4 products.
Sir, the oversized t-shirts retail for Rs. 999.
And our co-ord sets
start from Rs. 1,599 and go up to Rs. 2,399.
We have oversized t-shirts for men.
It has up to 5XL.
The average is Rs. 2,099.
How much is your percentage of sales on non-regular sizes?
But what will be your strategy in the future to compete?
Sir, I think if we get backup funds,
I will have nothing to worry about.
No one can play as aggressively as I do.
I can see that you are aggressive. Right?
- No... - You are the devil!
- One devil recognises another devil. - Okay!
- Go Devil! - Right!
But unless and until there is a differentiator
in your pricing or design,
how will you scale it?
Our customers will also give insight.
If we've fulfilled over 1 lakh orders,
there is a differentiator in our product.
We can also see that.
This is why we are able to grow.
Otherwise, to grow in today's time...
It is not easy to maintain stability
in the garment business
or brands. People come and leave.
- What according to you is your differentiator? - Designs.
This is a hit-based business then.
As long as you give new designs,
your sales will go up if they do well.
If not, you will depend on your old designs.
Kunal sir, this is how the fashion industry functions.
Yes, I agree. How will you
increase your chances
of delivering a hit?
I believe that I am able to deliver a hit
because I own a manufacturing unit.
And I have a background in fashion.
So, the trials...
Our timeline for a launch,
trial, and delivering a hit product
brings clarity.
Within barely two weeks of launch,
we get an idea of traction about what product is working
and what isn't. Based on that,
we play aggressively.
The way fast fashion brands used to start before
was based on gut feeling and designs.
In the next ten years, they will be made with tech.
Which direction will you go
in the next five years if you get funds?
Ma'am, I will maintain a balance.
I will use the strategy and whatever technical model
my competitors are using.
We'll do that, too, sir.
We will also play on our gut feeling.
Okay. For now, your design process and inventory are 100 per cent
- based on your gut feeling. - When you start something,
you must follow your feelings
and the market trends. But in the last six months,
we're not solely following our gut.
We're also focusing on the market trends,
data and what my competitors
are designing.
That's how we're going ahead, ma'am.
- Vinish, let's talk numbers now. - Yes, sir.
Let me know your numbers from 2022.
We closed 2022-23 in Rs 1.44 crores.
Net revenue?
Rs 1.44 crores was net.
We closed 2023-24 with Rs 2.45 crores.
In the last six months,
we've almost touched Rs 2.75 crores, sir.
Last three months?
July was around Rs 50 lakhs, sir.
August was Rs 36 lakhs.
September was Rs 51.5 lakhs.
What will be your closing sale on 31st March?
Sir, we're planning around 8 crores.
How will it go from Rs 2.5 crores to Rs 8 crores?
Sir, we have reached 3 crores.
The winter has started, sir.
In November, December and January,
our average order value will increase.
We're also a part of Myntra's SJIT program now.
How much inventory do you have right now?
It's around Rs 3 crores as per MRP.
So, you have an inventory of six months.
Yes, sir. I know the bestsellers.
So, I have to keep it going.
How much inventory is older than a year?
It might not be more than Rs 30 to 40 lakhs.
Can you explain your profitability and unit economics now?
We'll get a better idea.
If something costs 100 bucks, 23 percent of it
- is our manufacturing cost. - Good.
- Very good. - 30 per cent of it
is for marketing and advertising.
- Not bad. - 16 percent is platform fees.
8 percent is shipping.
9 percent is salary.
Salary of?
Salary of everyone, including the directors.
So, it doesn't include factory salaries.
It does include it, sir.
Then, the COGS cannot be 23 per cent.
How much is your salary for the factory workers?
Around Rs 6-6.5 lakhs with tailors.
That makes the COGS 30 per cent.
We can see it that way. You have 16 per cent left in the end.
No, sir. Our overheads are 12 per cent.
What are the overheads for? 12 per cent is way too high.
Electricity and water.
Running a factory requires around Rs 10,000 daily.
That increases your COGS.
Electricity, water, and factory running operations
are a part of COGS.
- Okay. - So, your margin must be 60 per cent.
Yes. If you add this cost, it does sum up to that.
How much was your profit after tax on Rs 2.45 crores
- last year? - Minus 5 per cent.
How is that possible?
- Are you booking all the sales? - Yes, sir.
In a business with a high margin, you're incurring a loss.
Sir, we're launching new products monthly.
We launched hoodies recently.
Who is paying for that? On Rs 2.5 crores,
you're incurring an annual loss of Rs 10 to 12 lakhs.
How much cash flow has been utilised?
I've invested around Rs 2.5 to 3 crores, sir.
Have you invested all the money?
Sir, we took a loan from our friends in February.
Loan? How much is the loan?
Sir, it's around Rs 2.5 to Rs 3 crores.
What is the interest?
Sir, we've given them equity.
Then, it's not a loan.
Sir, we have a clause that if they exit in five years
and I cannot do it,
I will repay the loan in five years.
- Angel has 10 per cent. - Okay.
Akash Sinha has 15 per cent.
- He lent you the money. - Yes.
- How much did he lend you? Rs 2.5 crores? - Rs 1.5 crore.
Aditya Choudhary lent Rs 1.5 crore. He has 15 per cent.
But that comes up to Rs 3 crores.
You said the loan was Rs 2.5 crores.
Sir, the loan is of Rs 3 crores.
I cannot understand how this business is incurring a loss.
Sir, the loss, er...
- You've worked for 20 years. - Yes.
Apparel is a high-margin business.
- Yes. - Do you have enough savings to run the family?
Sir, I sold it off last year.
- What? - My house.
- To run this business? - Yes, sir.
A part of it was saving, and a part was the flat.
Mr Vinish,
let me tell you a couple of things.
You know your observation powers and instincts are good.
In the next 10 years,
hundreds of brands will be made in India at this pace.
You can also do it.
You have the passion, energy and vigour to do it.
However, you say yes to everything.
You said you were size-inclusive,
casual, street, active, etc.
Angel said, 'Whatever you want, we have.'
You can do this after it's a famous brand.
But when starting in a competitive field,
brands are built by refusing several things,
not by agreeing to make thousands of things.
When you are operating on a smaller scale,
you must stick to a niche
and agree to do very few things.
That's how every top brand was made in the world.
The risk you're taking right now
can be perilous.
Fashion businesses die
primarily because of SKUs and inventory.
This is becoming a big capital,
high-efficiency tech game.
- Yes. - But you're doing it the traditional way.
It will continue to increase your loan
and push you into a deeper problem.
That is why I am out today.
Your category is excellent.
Change your approach, and you may have a chance. Good luck.
One good thing is that you have relevant experience.
You have some good qualities.
You can observe and adapt.
You have a fashion sense.
The biggest problem is
a strong hold on strategy and unit economics.
I am not asking you to learn it.
You need a co-founder.
Get a strong partner
to whom you can hand over the controls and freedom to decide
the inventory, how to sell it and what the price should be
while you rack your brain in designing.
You have to tie the knot to avoid taking any more loans.
- Sir, that is the aim. - This can only turn around
with zero loans and a strong partner.
Otherwise, it can be risky.
Okay. I am out for now. Best of luck.
Vinish, Angel, the biggest problem with fashion
and why many venture capitalists avoid it
has always been inventory and working capital.
You're also struggling with that.
In my opinion,
investing in a non-tech-based fast fashion company
in season four is a risk.
So, I won't invest in it. Best of luck.
At this moment,
you have risked everything
- for Go Devil. - Yes, absolutely.
So, Go Devil must work.
Yes, sir.
It will work, sir.
100 per cent, sir.
Do you ever get scared by the thought of it not working?
No, sir. I am beyond that fear, sir.
I believe
you become emotional
when you enter a new business.
In that emotion
and your passion for that business,
you miss out on some details.
Then, you claim the market was terrible
and restart.
Nothing's wrong with restarting.
All of us have restarted at some point.
But this has entered a dangerous zone.
Yours is a high-design risk business.
If one collection or season of yours doesn't work,
it will pull your company down.
As no provisions have been taken in the P&L,
we don't know how much the inventory write-off
to face that hit?
For these reasons, I am out today.
- Angel, what do you want to do? - Yes?
I'll join the brand after college.
- Okay, very nice. Help him out. - I will.
Your designs are amazing.
You're helping your dad out.
Your dad did great. The pitch was excellent.
You've developed a brand with great designs.
The feel was good.
He's done a wonderful job in creating this brand.
He's a rock star.
Vinish, you've created a fantastic brand.
- Thank you, sir. - Go Devil is good and has a vibe.
When you start talking, you bat in the front foot.
You were rocking during the pitch.
You were doing great.
You needed six runs to win from the last ball.
You went aggressive in that. But unfortunately,
you got out there.
Unfortunately,
I cannot come with you right now
because of issues with your business fundamentals.
You have to fix those.
- Okay. - You will do it.
I have a feeling.
- Please fix it. - Done, sir.
Do what everyone has said. Angel, join him then.
Thank you, Angel.
- Yes. - Thank you. - Good luck, Vinish.
It was nice meeting you. Best of luck.
I will also take
their words positively.
I will implement it in the future
to improve the brand.
Hello, Vinish and Angel. I saw your pitch.
I enjoyed watching it. I love your brand.
...people might be exclaiming that you're carrying something good.
- Yeah. - Isn't it?
What's the use of a brand if it's not turning heads?
Exactly!
Spoken like a true Delhite.
- We wear them so people will notice us. - Of course!
I watched your pitch.
I will wear your products.
I was wondering how to accessorise myself.
I opened Swiggy Instamart
and ordered smart wearables for myself.
I ordered some smart watches.
It's here in ten minutes.
Thank you so much.
As you have a good fashion sense,
I want to ask you something.
I'll wear your clothes and put on these accessories.
What should I do to complete my look
and bring that swag?
You should add perfume to it.
Perfume!
I'll order it from Swiggy Instamart. It'll be here in ten minutes.
You can also change your style statement.
Open Swiggy Instamart and order now.
Only pitchers don't profit from Sharks deals.
You have a chance, too. A golden opportunity.
Look. I am a good host. I'm giving some inside information.
What are you waiting for? Go now.
Lenskart application or lenskart.com!
[theme music playing]
- Namaste, sir! - Namaste!
My name is Bharat Khatri.
To remind you
that the world is going bald!
[laughing]
Hair fall
and greying of hair
are like a nightmare.
It shatters our confidence!
One primary reason for this
is that many people don't read the ingredient list of shampoos.
Upon reading it, they will know
that shampoos contain parabens, sulphates,
and many other chemicals and preservatives
that are harmful to hair.
Have you ever noticed our grandma's
or ancestor's hair?
They used to be so black, thick and healthy.
That's because
they've only used
natural products and Ayurveda for centuries.
Inspired by that,
I have launched the brand Havintha.
Havintha is a 100 per cent
natural hair and skincare brand
It's very easy to make.
I'll make it for you.
Take enough powder
according to the length of your hair.
Then, mix half a glass of water.
After mixing it, let it settle for five to ten minutes.
It will look something like this.
Apply this paste to your hair, massage it,
and wash it off. It's that simple!
Give us a demo on Vineeta.
Sharks, more than 10 lakh people
- have received Havintha's products. - Wow!
Team Havintha has spent close to nothing on marketing.
Yet, it has achieved this growth
with word of mouth.
Our goal is
to turn this into a 500-crore company
- in the next five years. - Great!
So, sharks, one of the reasons for hair fall is stress.
If I don't get this deal, I might get it, too.
[laughing]
So quickly, give me
50 lakhs for 2 per cent equity.
Where are you from?
Indore.
What does Havintha mean?
Havintha means
the bridge of relations.
[laughing]
Bharat, the logo
on top of Havintha,
looks a little like the tree
of hemp or cannabis.
Yes. These leaves give people the idea of it being natural.
Brother, do you know cannabis?
- People smoke it. - Yes!
It is a plant by itself.
Do you know that? It looks like that.
Have you done it intentionally? That's his question.
No.
[laughing]
How did Havintha begin?
I used to suffer from hair fall.
I was always interested in this.
Which year was that in?
- Around 2016-17. - I see.
- Can you show your products? - Yes, for sure.
This one...
No, bring it here.
- Should we come, or will you get it? - You can come.
- Okay. - He won't move now.
[theme music playing]
That is our fenugreek powder shampoo.
It's your main product.
That's our new packaging, a jar.
Around 1.5 months.
But your hair is so thick. It has improved a lot.
- Show your hair. - Yes.
These are powders,
like fenugreek, Indian gooseberry, Soapnut, etc.
Our grandparents used this.
In the last ten years,
people want liquid shampoos because they want ease.
Are there people in India
who will mix before using?
Yes, there are.
One with hair issues
can spare five minutes for oneself.
- They can use this product. - That's true.
Did you do this alone?
Are you interested in Ayurveda?
I am interested in it.
I did it alone in the beginning.
Gradually, I built a team.
Do you get this manufactured?
No, we manufacture it ourselves.
Do you have a video of your manufacturing facility?
- Is it in Indore? - Yes, it is.
Indian gooseberries and soap nuts are in their crude form.
That's the mixing machine.
That's how the packing is done.
Then, 50 pieces are put in boxes
and sent to Amazon's FBA.
Did you get this money from your parents?
No, sir.
I started this business by using my credit card limit of Rs 22,000.
- Wow! - Amazing!
Did you figure out everything
Did you understand all this
- on your own? - Yes, sir. I had good knowledge of computers from before.
I went on reading from Google and then I did the listing.
How did you find out what pricing should be done?
How to do the marketing design,
and what name to give? 'Our truthness, Nature's goodness.'
How did you do all this by yourself?
- I mean... - All this happened over time, not overnight.
How big is your business now?
Last year's sale was five crores.
- Oh, wow. - And this year?
This year we will touch seven to eight crores.
And what was the profit in that?
Our profit was 14 lakhs.
- Wow. - Wow.
Superb, Bharat.
Bharat Khatri from Indore, you're amazing.
And do you sell everything online?
Yes, we sell it online.
Our customers were marketing our products.
What is your rating on Amazon?
It is four plus
with 9,000 reviews. And on Flipkart
there are more than 23,000 reviews with 4.2 rating.
We have around 20% repeat rate.
Isn't that less?
The customer buys from different marketplace
each time, we are not able to get the exact data.
Please tell me your revenue, year-wise.
In 2019-20 it was 50 lakhs.
In 2020-21 it was 77 lakhs.
In 2021-22 it was 3.1 crores.
Wow.
In 2022-23 it was 4.1 crores.
And in the last year, 2023-24 it is five crores.
This year it will be seven crores.
How much PAT did you get from five crores?
What was the 'Profit after tax, ' and EBITDA?
Our profit was around 1.2 crores.
- I will tell you the EBITDA. - Okay.
We sell the product at Rs 251.
In which the cost of production is Rs 60.
Shipping and commission comes to Rs 108.
The gross profit is Rs 90.
Salary and other expenses are Rs 26.
Finally, EBITDA is at Rs 57.
- Okay, how much income tax did you pay? - 37 lakhs.
About reducing the tax or not paying it.
What made you pay the entire tax?
We have to pay that.
Because after so many sales and profit, that tax has to be paid.
Your concepts are
- absolutely simple and straight. - Very true.
Tell me something.
Tell me the truth. Are you fooling us or is this the truth?
No, come on... What are you saying?
No, sir. You have a look at it yourself.
You can check. Our firm is audited.
It's an actual proprietorship.
- It's a proprietorship. - It's a proprietorship now.
Are you facing any problems in running the business?
There are problems in marketing,
because we are not doing any marketing.
10 lakh people have purchased the products.
How are they coming without any marketing?
Word of mouth cannot lead to so many sales.
From the reviews that we get
and when you search on Google
for natural shampoo, our product is on the top.
Please type natural shampoo on this.
You're a genius.
- These are our products. - You said there are many reviews.
Let's have a look at them.
'It works very well, not one-night magic.'
'If you have a major hair problem, it takes some time,
three to four hair washes to control the problem.
Product is just great.
[upbeat music playing]
Have you got the product tested?
Yes, we have a lab test report.
It's 100% natural
and there are no chemicals, paraben, sulphate or preservatives.
What is the science of hair fall?
Why does it happen?
And how is it stopped?
Hairfall...
There's something called DHT...
What is DHT?
- I don't remember the full form. - But what is it?
- DHT is a hormone. - Okay. Then?
That causes hair fall. Along with that stress causes hair fall.
Then there's pollution and many other reasons.
How is your formulation working on it?
Actually, the 'Shikakai' or soap pod
helps to grow hair naturally.
What is the meaning of the natural way? Please help us understand.
- How does it work? - The quality of the ingredient
is such that it helps.
You must have thought of a process about what ingredients to add.
We did a lot of research. It is written in several places.
What about how much quantity of each ingredient, you have to add?
We tried different proportions and arrived at our formula.
What is your qualification in Ayurveda?
I'm a BCom graduate by qualification.
- Do you have an Ayurveda doctor? - No.
Then how did you make it?
When you don't have an Ayurvedic qualification
nor do you have anyone certified in Ayurveda,
the claims that you are making about your products,
that it does so and so,
grows the hair,
how do you know when you don't have the qualifications?
We have tried it ourselves. That's how we know it.
The result is before us.
- That's how. - You would want the result to come.
Because you're selling it.
Have you taken any certificates?
From a government body.
We have an AYUSH license.
If you get an offer from any of us here,
then you'll have to make this into a private limited company.
I'm aware that we cannot scale without making it into a private limited company.
And we'll have to dilute more equity going forward.
How did you get the idea to make it into a 500 crore company?
I know that in India the beauty market
is at 3,000 crores.
- Is the beauty market at 3,000 crores? - Yes.
- Who told you that? - I checked on Google.
It's much bigger than 3,000.
Anyway, I'm not able to understand anything.
...and you want to make a business of 500 crores in the next few years,
so will you... Let's say the beauty market grows
will you take 10% or 20% of the beauty market?
No, I cannot take that much.
Then how will you become a 500-crore company in a 3,000 crore market?
I think I made a mistake.
This is not a mistake, boss.
You're unable to understand
the small things, but how did you
start the business, understand how much money to invest,
and how to make and sell the products?
Something is odd here.
There's nothing like that, sir.
I don't know what it is, but good luck. I'm out.
Thank you, sir.
- Mr Bharat... - Sorry, this last one...
In this 'Methi Dana' shampoo, fenugreek seeds
are not the largest percentage of ingredients.
Fenugreek seeds...
It is the largest in percentage.
Okay, but do you know as per law, the ingredients
should be displayed from highest per cent to lowest per cent
on the pack. It's mandatory.
Actually, the weight of fenugreek seeds is very less.
And soap pod is more. That's the reason.
You've added gooseberry.
We have added gooseberries.
[laughing]
That's it.
Because in this soap pod is second last.
- You should print the ingredient which is highest, - Correct.
- First. That's the law. - Do you know this rule or not?
Do you know this rule?
- If you don't know, say it. - I didn't know.
You don't know, right? Okay, then.
But this is a mandatory rule of the FDA.
There's no question of rules here, look...
Mr Bharat, I think an entrepreneur's life
is like a book.
Different people will come in different chapters and judge you.
In some things your understanding is less, your knowledge is less.
Whatever you've done, is great.
I did not find anything
that you're lying
or you're not answering properly.
I trust you.
- Thank you, sir. - But...
I think the way your structure is now
for the proprietorship,
I cannot invest in this.
I can't even if I want to.
So, whenever you want to convert,
reach out to me.
- It's not tough to reach me. - Yes, sir.
I will surely meet you again.
And the revenue trajectory that you have shown us,
if it stays that way, I will surely invest.
But today, I'm out. Wish you all the best.
I'm very happy to meet you.
Thank you, sir.
...then we will not get a lot of data.
I'm not comfortable with this.
- Okay. - But you've made the business super-profitable ground up,
- that's very impressive. Best of luck. - Thank you.
Mr Bharat, there are two things in my mind when I see you.
You have made a profit of 1.5 crores from a credit card loan.
On the other hand, I'm thinking,
'Who knows if all this is wrong?'
My mind is moving between both sides.
And because of this conflict,
unfortunately, I won't be able to invest at the moment.
Thank you.
- The biggest testimony is your customer reviews. - Yes.
Most people said that your products work.
The problem is, that it can be a copy.
So that Anupam feels, 'No, this is'
- 'a strong guy with a strong business.' - Yes, sir.
We have to work hard to stand in front of Anupam.
- Yes, sir. - Right? - Right.
I will give you an offer.
I will give you the 50 lakhs that you asked for.
I will take 10% equity.
Plus, I will take 2% royalty on your sales.
Like you had five crore sales this year,
what's 2% of that? It's 10 lakhs.
I will take it until I don't get 2x of my investment back.
- I will have to think about it. - Sure, go ahead.
Amazing.
[tense music playing]
You can laugh out. I know
- you're going to scold me. - No, how does it matter to me?
I would like to give you a counteroffer.
Oh, boss, you're full...
50 lakhs for 4%.
No royalty.
No. You're right on your end.
But the amount of work that I'll have to do with you on this,
to make this big
from my end, because I have to give my time too.
This will not justify the opportunity cost.
Sorry, this offer will not be suitable for me.
Because I'll have to dilute my equity in future, if I want to make a big company.
I think this offer is very expensive for me.
- Very good. - Very good. - Super, Bharat. Okay.
- Good luck. - Thank you.
- Thank you so much. - Best of luck.
- It was great meeting you. Well done. - Thank you, sir.
[theme music playing]
What Mr Anupam had to say,
he was feeling how
the business could be so big?
Whatever I have is real.
Everyone knows. It's visible.
If you sell the products to 10,000 people,
then there will be a few thousand who say there is a difference,
because they want to believe that there's a difference
It will make a difference to some people because of other reasons.
But then it became very clear
that the product knowledge is not fitting in.
Coupled with the fact
that the way he was answering,
I felt like he was deflecting many questions.
You cannot claim to be innocent in the name of Ayurveda.
See, what happens is, many of these home remedies,
these are passed on through the generations.
This is called Tribal Knowledge.
People know that these things work.
When I have a cold, I'm given a herbal tea, at home.
Yes, they're called grandma's remedies.
If I ask my wife, why she gives me this herbal tea,
why does it work? What is inside this?
What impact is it bringing in my biology,
she will have no idea.
- I completely agree. - But,
she also knows and I also know that it will work.
I completely agree. But the home remedies
are sold in the market in a packaged form
then you have a responsibility to do it correctly.
I'm sorry to say, this felt like complete quackery.
- Hello, Bharat. - Hello.
Welcome to PokerBaazi zone, where you hold the cards,
- How was the pitch? Was it good? - It was great.
What happens is there are many similarities
- between Poker and business. - Yes.
- Shall we? - Yes.
Oh, wow. Product on straight.
Number two is Marketing.
Very nice. Three of a kind.
Number three is Sales.
Okay.
Number four is Research and Development.
Very good. On one pair.
And number five is Operations and Logistics.
Thank you.
We're giving you a ticket to National Poker Series, 2025.
It's worth 1 lakh rupees, hosted on PokerBaazi.
With a total prize pool of 100 crore rupees.
- You can also go and make your winning hand. - Yes.
You can also download the PokerBaazi app,
make your strategy and play your winning hand.
Go and download PokerBaazi now.
We have the CEO and co-founder of Lenskart, Mr Peyush Bansal.
It's not me, it's Lenskart.
- Yes, fine. But technically, it's synonymous for us. - Yes.
Today's question is from Sarfaraz Sheikh from Srinagar.
He's 40 years old.
There used to be a traditional mindset that for you to be a founder,
- you need to own a majority of the company. - Hmm.
But if you see in the new century, in India or even outside
- founder equities are largely very small. It's all 20%, right? - Hmm.
In most companies, it's single-digit equity.
The company's scale itself is like that. They need a certain amount
and for that amount, I need certain equity to justify my ROI.
- Either I can decide not to invest. - Hmm.
But I feel, in the end, none of this matters.
- In the end, what matters is what the founder wanted to do - Hmm.
Is it getting accomplished or not?
Whether the problem and vision are being accomplished.
When you accomplish that,
it doesn't matter what your equity is.
And maybe if anyone does a round after going out of the Tank,
their equity
will reduce.
Yes, it's the market dynamics.
We'll meet you in the next Ask the Shark with a new question and a new Shark.