1 00:00:23,800 --> 00:00:25,640 [music playing] 2 00:00:40,920 --> 00:00:42,840 [theme music playing] 3 00:01:17,920 --> 00:01:19,400 [theme music concludes] 4 00:01:19,560 --> 00:01:20,960 Greetings, Sharks. 5 00:01:25,880 --> 00:01:29,840 And our brand Shyle was born in a silver fortress. 6 00:01:31,000 --> 00:01:35,600 Sharks, the artisans of Jaipur are world-renowned for their skills. 7 00:01:35,720 --> 00:01:38,800 Not only do they make the finest jewellery, 8 00:01:38,960 --> 00:01:43,400 but are also taking our historical legacy forward 9 00:01:43,520 --> 00:01:46,800 along with keeping timeless handcrafting alive. 10 00:01:47,560 --> 00:01:50,600 But is it possible to buy this jewellery 11 00:01:50,680 --> 00:01:54,040 regardless of where you might be, from the comfort of your home? 12 00:01:54,160 --> 00:01:57,120 Even if you could, you'd get the same common designs. 13 00:01:57,440 --> 00:01:59,800 Today's consumer, however, wants statement designs, 14 00:02:07,560 --> 00:02:10,760 Where age-old hand-crafting techniques 15 00:02:14,440 --> 00:02:17,520 are blended with modern yet aesthetic designs... 16 00:02:28,280 --> 00:02:30,880 We cater to all generations 17 00:02:30,960 --> 00:02:34,880 with unique styles like telephone ear cuffs, 18 00:02:36,560 --> 00:02:39,800 and timeless classics like the Chitai handcuff. 19 00:02:40,360 --> 00:02:41,560 Not just that, 20 00:02:41,640 --> 00:02:43,560 we also make silver rakhis, protective charms, 21 00:02:43,640 --> 00:02:46,240 silver purses and many other accessories 22 00:02:46,400 --> 00:02:50,080 that have been crafted keeping today's design sensibility in mind. 23 00:02:50,480 --> 00:02:54,760 Who'd have thought it was so easy to buy silver jewellery online? 24 00:02:54,960 --> 00:02:57,360 Having successfully tackled this challenge, 25 00:02:57,440 --> 00:02:59,360 we've fulfilled over 1.5 lakh orders. 26 00:02:59,520 --> 00:03:01,360 Today, our Instagram community 27 00:03:01,440 --> 00:03:03,400 stands strong with over 3.9 lakh followers. 28 00:03:03,480 --> 00:03:06,600 Sharks, our vision for the next two years is, 29 00:03:06,800 --> 00:03:10,760 whilst impacting about 100 artisan families, 30 00:03:10,880 --> 00:03:14,000 to take Shyle's revenue to over Rs. 100 crores. 31 00:03:22,560 --> 00:03:24,480 So, join us at Shyle, Sharks. 32 00:03:24,560 --> 00:03:27,120 Because this comes with a silver lining! 33 00:03:27,240 --> 00:03:29,120 My, oh, my! 34 00:03:37,280 --> 00:03:38,840 Have you contested the elections? 35 00:03:38,920 --> 00:03:40,800 - No, sir. Never. - [laughs] 36 00:03:41,480 --> 00:03:45,440 But welcome to Shark Tank India Season 4. 37 00:03:46,000 --> 00:03:48,600 What's the story behind the name Shyle? I was just curious. 38 00:03:48,680 --> 00:03:51,040 I know it's borrowed from "style", 39 00:03:51,120 --> 00:03:52,320 but how did you come up with it? 40 00:03:52,320 --> 00:03:54,480 So, as you just said, it rhymes with style. 41 00:03:54,640 --> 00:03:55,520 Is that it? 42 00:03:55,600 --> 00:03:57,600 We got a domain very conveniently. 43 00:03:57,680 --> 00:03:59,080 - So, we... - Is it shyle.com? 44 00:03:59,240 --> 00:04:01,080 - We took shyle.in. - Okay. 45 00:04:01,160 --> 00:04:03,640 Very recently, we've acquired shyle.com. 46 00:04:03,720 --> 00:04:04,840 - Oh, well done. - Very good. 47 00:04:04,880 --> 00:04:08,360 When we looked up Shyle, an old website used to show up. 48 00:04:08,440 --> 00:04:11,280 We negotiated for four years for shyle.com 49 00:04:11,400 --> 00:04:14,120 with different entities, and we were able to acquire it last year. 50 00:04:14,240 --> 00:04:15,120 - Superb! - For how much? 51 00:04:15,240 --> 00:04:16,880 Um, 1.9 lakh, sir. 52 00:04:16,960 --> 00:04:17,960 - Rupees? - Yes. 53 00:04:22,000 --> 00:04:25,000 I also negotiated for shaadi.com domain for a few years. 54 00:04:25,080 --> 00:04:26,680 They took $25,000 from me. 55 00:04:27,920 --> 00:04:30,240 So, how did you two meet? 56 00:04:30,320 --> 00:04:31,560 How did you come upon this? 57 00:04:31,640 --> 00:04:33,080 - Give us your background. - Sure, sir. 58 00:04:33,120 --> 00:04:36,160 - Sir, I was born and brought up in Jaipur. - Okay. 59 00:04:36,240 --> 00:04:37,920 I belong to a business family 60 00:04:38,000 --> 00:04:41,240 and I've heard about business since childhood. 61 00:04:41,360 --> 00:04:43,400 No one in my family and extended family 62 00:04:43,480 --> 00:04:45,280 - has done a job till today. - Okay. 63 00:04:45,360 --> 00:04:47,760 - I was the only one who ever did a job. - I see. 64 00:04:53,360 --> 00:04:56,360 Then I moved to Flipkart in 2014 65 00:04:56,480 --> 00:04:59,240 and worked directly under the vertical of Kalyan Krishnamurthy. 66 00:04:59,320 --> 00:05:03,480 After 1.5 years there, I joined my friends as a founding team member 67 00:05:03,560 --> 00:05:05,920 in their neighbourhood commerce start-up LazyLad. 68 00:05:06,040 --> 00:05:08,560 I ran the company for a year, took two rounds of funding 69 00:05:16,760 --> 00:05:18,480 - ...as the operations head. - Yes. 70 00:05:18,560 --> 00:05:20,560 During the transition phase from LazyLad to Crownit, 71 00:05:20,560 --> 00:05:23,560 I met Astha through our family set-up. 72 00:05:23,640 --> 00:05:26,280 When her profile came to me, I did some research on her. 73 00:05:26,360 --> 00:05:28,000 She was Miss Fresher in her college. 74 00:05:28,080 --> 00:05:29,240 - Miss Fresher? - Yes. 75 00:05:29,320 --> 00:05:31,800 - Miss Fresher, and had a great fan-following in college. - Oh! 76 00:05:31,920 --> 00:05:32,800 Crazy. 77 00:05:32,880 --> 00:05:36,280 We'd roam around with boys in IIT. There was no point. 78 00:05:36,360 --> 00:05:38,760 You didn't need to do any digging. 79 00:05:38,840 --> 00:05:40,440 You should've said yes after seeing her photo. 80 00:05:40,480 --> 00:05:42,280 - She was with a friend in it. - I see. 81 00:05:42,360 --> 00:05:44,360 I wasn't sure which one she was. Both looked equally hot. 82 00:05:44,360 --> 00:05:46,360 - And my friend was prettier. - Oh, God. 83 00:05:46,440 --> 00:05:47,600 I'm not... 84 00:05:47,840 --> 00:05:48,880 She's just being humble. 85 00:05:48,960 --> 00:05:50,160 - Cute. - So sweet. 86 00:05:50,360 --> 00:05:52,480 Are you two newly married? 87 00:05:52,560 --> 00:05:54,160 - It's been nine years. - Nine! 88 00:05:54,360 --> 00:05:56,040 - My God! - You look newly married. 89 00:05:56,760 --> 00:05:59,760 She was in two minds and had a big list. 90 00:05:59,920 --> 00:06:02,000 - I had only one. - [laughs] 91 00:06:02,360 --> 00:06:03,720 She's humble, you are honest. 92 00:06:04,000 --> 00:06:05,920 I targeted it fundamentally 93 00:06:06,000 --> 00:06:07,720 and decided to win over my to-be in-laws. 94 00:06:07,840 --> 00:06:10,200 Within a few days of our marriage getting fixed, 95 00:06:10,600 --> 00:06:12,360 I began addressing them as "Mom" and "Dad". 96 00:06:12,480 --> 00:06:14,680 - They wanted... - [laughter] 97 00:06:15,160 --> 00:06:16,520 You were closing the deal. 98 00:06:16,600 --> 00:06:18,160 Normally, people seek blessings like this. 99 00:06:18,200 --> 00:06:20,920 I used to bend down completely and seek blessings with both hands. 100 00:06:21,080 --> 00:06:22,720 - Are you Marwari? - Yes. 101 00:06:22,840 --> 00:06:25,480 - With both hands like this. - That ought to do it. 102 00:06:25,640 --> 00:06:27,880 - Then? - They were more set than her. 103 00:06:28,800 --> 00:06:31,440 And fortunately, we got married in 2016. 104 00:06:31,640 --> 00:06:33,520 Then I worked in Crownit for two years. 105 00:06:33,600 --> 00:06:35,160 And over to Astha. 106 00:06:35,560 --> 00:06:36,440 So sweet. 107 00:06:36,560 --> 00:06:39,720 I'm a Marwari, typical business class. 108 00:06:39,800 --> 00:06:42,120 I grew up in an ultra-joint family. 109 00:06:42,840 --> 00:06:46,040 I did my studies in Jaipur which includes my graduation. 110 00:06:46,120 --> 00:06:48,320 For post-graduation, I did an MBA in marketing. 111 00:06:48,480 --> 00:06:49,760 Where did you do your MBA from? 112 00:06:54,800 --> 00:06:56,240 in Bajaj Allianz, Pune. 113 00:06:56,360 --> 00:06:57,920 I met him during that time 114 00:06:58,000 --> 00:06:59,840 and we decided to get married. 115 00:06:59,920 --> 00:07:02,440 So, I left my job and moved to Jaipur. 116 00:07:03,120 --> 00:07:06,360 I've always wanted to start my own business. 117 00:07:06,440 --> 00:07:09,360 I decided to focus on a product 118 00:07:09,440 --> 00:07:11,560 that was Jaipur's strength. 119 00:07:11,640 --> 00:07:15,960 In jewellery, my personal interest lies in precious metals. 120 00:07:16,120 --> 00:07:17,640 And in the online space, 121 00:07:17,720 --> 00:07:20,400 business stores were in trend at the time on Instagram. 122 00:07:20,480 --> 00:07:23,720 I thought it'd be a great way to test my product 123 00:07:23,800 --> 00:07:25,600 and start on a lean mode. 124 00:07:25,720 --> 00:07:27,080 When did Shyle start? 125 00:07:27,200 --> 00:07:31,000 It started in around December 2017. 126 00:07:31,720 --> 00:07:33,880 Could you show us some products? Have you brought them? 127 00:07:33,960 --> 00:07:35,200 - Yes, I'll get them. - Please. 128 00:07:38,440 --> 00:07:40,440 Sir, the Maha Mrityunjaya Mantra. 129 00:07:41,320 --> 00:07:43,960 - I love your necklace. - Thank you. 130 00:07:44,480 --> 00:07:46,600 This is beautiful. 131 00:07:48,720 --> 00:07:49,720 Thank you. 132 00:07:51,680 --> 00:07:53,280 - Let me take this. - [chuckles] 133 00:07:53,880 --> 00:07:55,160 - Thank you. - Thank you. 134 00:07:55,280 --> 00:07:57,800 This is the Shaahi Ghoda which we've made. 135 00:07:59,600 --> 00:08:00,840 My God! 136 00:08:00,960 --> 00:08:02,560 This is way too intricate, 137 00:08:02,680 --> 00:08:05,880 especially the features of the horse. 138 00:08:12,360 --> 00:08:13,360 - Right? - It's lovely. 139 00:08:13,400 --> 00:08:16,880 - What's the price of the Shaahi Ghoda piece? - Okay? 140 00:08:21,000 --> 00:08:24,720 - Approximately worth Rs. 4,500. - Got it. 141 00:08:24,840 --> 00:08:26,480 And the Maha Mrityunjaya Mantra? 142 00:08:26,600 --> 00:08:28,440 Sir, the pendant costs Rs. 2,700. 143 00:08:28,520 --> 00:08:29,920 With the chain, it is Rs. 3,700. 144 00:08:30,000 --> 00:08:30,920 It's pretty incredible 145 00:08:31,000 --> 00:08:33,680 you're able to offer such good quality at Rs. 2,700. 146 00:08:34,240 --> 00:08:35,480 Let's talk about the products. 147 00:08:42,880 --> 00:08:45,080 Our major categories are earrings, 148 00:08:45,240 --> 00:08:47,840 bangles, necklaces and rings. 149 00:08:51,400 --> 00:08:53,240 ...that you mentioned earlier? 150 00:08:53,400 --> 00:08:56,040 This, for instance, is a desi Thappa. 151 00:08:56,360 --> 00:08:58,440 It was handcrafted by the artisan. 152 00:08:58,720 --> 00:09:01,920 And this necklace was made using this Thappa. 153 00:09:02,000 --> 00:09:03,840 - Do you see this sequence? - Yes. 154 00:09:04,160 --> 00:09:05,920 - Hmm. - They were imprinted using the Thappa. 155 00:09:05,920 --> 00:09:07,800 - You mean stamped. - Yes. 156 00:09:08,000 --> 00:09:09,680 [music playing] 157 00:09:18,400 --> 00:09:19,520 Coming to Mandaai now. 158 00:09:19,600 --> 00:09:21,000 This is a sheet. 159 00:09:21,160 --> 00:09:25,040 The artisan made this border with his hands. 160 00:09:25,120 --> 00:09:26,800 Thappa technique was used for the imprint in the centre. 161 00:09:26,840 --> 00:09:29,040 And the border of the Thappa is also mandaai. 162 00:09:29,360 --> 00:09:33,720 The small dots you see on the Mandaai necklace is Rava. 163 00:09:33,800 --> 00:09:36,240 Every dot has been made by hand. 164 00:09:36,520 --> 00:09:38,920 - Show us Chitai as well. - Coming to Chitai. 165 00:09:39,000 --> 00:09:42,240 This typical crafting is called Chitai. This! 166 00:09:42,440 --> 00:09:45,360 If you see this is any piece, this is Chitai. 167 00:09:45,480 --> 00:09:48,520 - There's a village named Hathras in Uttar Pradesh. - Yes. 168 00:09:48,640 --> 00:09:50,760 The local artisans there are the best at Chitai work. 169 00:09:50,880 --> 00:09:52,240 Artisans at Jaipur make it too, 170 00:09:52,320 --> 00:09:54,640 but we get ours crafted from Hathras. 171 00:09:55,680 --> 00:09:57,560 Why have you kept wine glasses? 172 00:09:57,920 --> 00:09:59,960 - We've just introduced them, ma'am. - We've just made them. 173 00:09:59,960 --> 00:10:02,240 - Does this have silver too? - Do you see the reindeer on it? 174 00:10:02,280 --> 00:10:03,840 - This one. - Yes. 175 00:10:04,040 --> 00:10:05,280 - Yes. - That's silver. 176 00:10:05,400 --> 00:10:07,400 - It's silver. - Oh, wow. 177 00:10:07,480 --> 00:10:09,160 - Beautiful. - Beautiful. Lovely. 178 00:10:09,400 --> 00:10:10,400 Nice gift. 179 00:10:11,400 --> 00:10:13,120 You mentioned 100 artisans. 180 00:10:13,200 --> 00:10:14,880 - No, we envision to do that. - You said 100. 181 00:10:14,920 --> 00:10:17,320 Currently, we work with 30 artisan families. 182 00:10:17,400 --> 00:10:19,960 Are there other companies in the market offering the same quality 183 00:10:20,000 --> 00:10:21,240 of silver work? 184 00:10:21,360 --> 00:10:23,720 If you visit the local Jaipur markets, 185 00:10:23,800 --> 00:10:25,640 you'll find loads of silver jewellery. 186 00:10:26,360 --> 00:10:31,040 You're saying there isn't much online competition in your segment. 187 00:10:31,120 --> 00:10:32,400 - No... - No, sir. 188 00:10:32,480 --> 00:10:34,960 Sir, there are brands for instance Amrapali, 189 00:10:35,080 --> 00:10:37,840 Sangeeta Boochra or Shaya by CaratLane. 190 00:10:37,920 --> 00:10:41,360 Our USP is that the designs are ours. 191 00:10:41,680 --> 00:10:43,080 You mean proprietary. 192 00:10:43,200 --> 00:10:44,800 They're not copyright registered yet, 193 00:10:44,920 --> 00:10:47,800 but it's in-house designing and we are in the process of... 194 00:10:50,120 --> 00:10:51,320 - Yes, ma'am. - Drastically. 195 00:10:51,800 --> 00:10:54,400 The design aesthetics and pricing both differ. 196 00:10:54,480 --> 00:10:56,720 Plus, the USP. You mentioned weight. 197 00:10:56,800 --> 00:10:58,360 That is Shyle's biggest USP. 198 00:10:58,440 --> 00:11:00,960 What would Amrapali's pricing of this be? 199 00:11:01,600 --> 00:11:05,520 Ma'am, we sell the ring you're wearing for Rs. 4,400. 200 00:11:05,600 --> 00:11:07,960 Amrapali's will cost you at least Rs. 10,000. 201 00:11:08,080 --> 00:11:10,680 What are your ASP and AOV? 202 00:11:10,760 --> 00:11:13,000 Sir, our AOV is approximately Rs. 5,000. 203 00:11:13,120 --> 00:11:15,760 Our ASP is Rs. 4,200 to 4,300. 204 00:11:15,840 --> 00:11:17,440 Right? Your brand is Shyle... 205 00:11:24,320 --> 00:11:25,800 - Could you show us your Instagram? - Sure. 206 00:11:25,800 --> 00:11:27,280 Sir, this is our Instagram page. 207 00:11:29,760 --> 00:11:30,760 How many views? 208 00:11:30,840 --> 00:11:32,280 5.5 million views. 209 00:11:33,160 --> 00:11:34,920 - 2 lakh likes. - That's right. 210 00:11:35,040 --> 00:11:37,280 So, you use the jewellery more. 211 00:11:37,360 --> 00:11:38,640 You are not... 212 00:11:39,360 --> 00:11:41,960 I was about to explain, sir. That's not me up there. 213 00:11:42,040 --> 00:11:43,320 - I see. - She is my model. 214 00:11:43,480 --> 00:11:44,440 Just to add, 215 00:11:44,520 --> 00:11:47,600 over 50 of our reels have hit over 1 million views. 216 00:11:47,680 --> 00:11:49,720 - Are they paid or organic? - Organic. 217 00:11:49,800 --> 00:11:52,320 Our Trishul Rakhi has hit 15.5 million views. 218 00:11:55,120 --> 00:11:57,240 Radhesh, could you tell us your business' 219 00:11:57,320 --> 00:11:59,440 - revenue performance for the last few years? - Yes, sir. 220 00:11:59,440 --> 00:12:02,880 Sir, in 2021-22, we clocked sales of Rs. 10.5 crores. 221 00:12:02,960 --> 00:12:05,280 - In 2022-23, it was Rs. 13 crores. - Okay. 222 00:12:05,360 --> 00:12:07,680 In 2023-24, we clocked Rs. 15 crores. 223 00:12:08,000 --> 00:12:10,440 We aim to clock Rs. 18 crores in 2024-25. 224 00:12:15,760 --> 00:12:17,000 No, ma'am. We're bootstrapped. 225 00:12:17,480 --> 00:12:18,960 Tell us the bottom line. 226 00:12:19,040 --> 00:12:22,960 Sir, in 2021-22, our EBITDA was Rs. 25 lakhs. 227 00:12:23,040 --> 00:12:24,960 In 2022-23, it was Rs. 47 lakhs. 228 00:12:25,080 --> 00:12:27,280 In 2023-24, we did Rs. 84 lakhs. 229 00:12:27,360 --> 00:12:30,000 This year, we aim to do 1 'khoka'... 1 crore. 230 00:12:30,080 --> 00:12:31,360 [laughter] 231 00:12:31,520 --> 00:12:33,200 - We aim to hit Rs. 1 crore. - That's great. 232 00:12:33,240 --> 00:12:34,800 This is how we talk at home. 233 00:12:34,880 --> 00:12:35,720 - All right. - Solid. 234 00:12:35,840 --> 00:12:38,600 - How much is your cash in bank? - Around Rs. 50 lakhs. 235 00:12:38,680 --> 00:12:40,480 How much did you invest in the business? 236 00:12:40,560 --> 00:12:43,280 Sir, our initial capital was Rs. 7 lakh. 237 00:12:43,360 --> 00:12:45,000 The profits that came, 238 00:12:45,080 --> 00:12:46,600 after accounting for the founder's expenses, 239 00:12:46,640 --> 00:12:47,720 were being pumped into the business. 240 00:12:47,760 --> 00:12:50,200 So, from an investment of Rs. 7 lakhs, 241 00:12:50,480 --> 00:12:54,800 - you made a profit of Rs. 1 crore this year. - Yes, sir. 242 00:12:54,920 --> 00:12:55,840 More than big money, 243 00:12:55,920 --> 00:12:57,880 a big business is built on big ideas. 244 00:12:57,960 --> 00:12:59,760 You took full advantage of it. 245 00:13:00,440 --> 00:13:02,240 Let's focus on unit economics. 246 00:13:02,320 --> 00:13:03,440 For a sale of Rs. 100, 247 00:13:03,520 --> 00:13:06,680 3% is our GST and 45% is COGS. 248 00:13:06,760 --> 00:13:08,720 Our GM is about 52%. 249 00:13:08,840 --> 00:13:11,680 Deduct 3.6% for shipping, 250 00:13:11,880 --> 00:13:13,240 3% for packaging, 251 00:13:13,320 --> 00:13:16,080 2% for payment gateway and COD charges, 252 00:13:16,200 --> 00:13:18,400 and 3.6% towards marketing commission. 253 00:13:18,480 --> 00:13:19,480 That's 12%. 254 00:13:19,560 --> 00:13:22,240 - Sir, our CM1 is 39.8%. - That's right. 255 00:13:22,360 --> 00:13:24,080 Marketing accounts for 24%. 256 00:13:24,160 --> 00:13:26,280 - So, our CM2 becomes 15.8%. - 24%. 257 00:13:26,360 --> 00:13:28,720 Salaries take up 6.3%, 258 00:13:28,800 --> 00:13:30,640 4% for utilities and overheads. 259 00:13:30,720 --> 00:13:32,240 That's an EBITDA of 5.5%. 260 00:13:32,320 --> 00:13:36,680 - You're paying salaries of about Rs. 7 to 9 lakhs a month. - Yes. 261 00:13:36,760 --> 00:13:38,000 What are your salaries? 262 00:13:38,080 --> 00:13:39,360 Mine's below that. 263 00:13:39,440 --> 00:13:41,360 - I'm a consultant with my company. - Why? 264 00:13:42,440 --> 00:13:44,040 So, you don't own equity. 265 00:13:44,720 --> 00:13:45,760 No, not currently. 266 00:13:45,840 --> 00:13:47,720 What do you mean it's lower as a consultant? 267 00:13:47,840 --> 00:13:49,920 I take mine as professional charges 268 00:13:50,120 --> 00:13:51,600 - under salaries. - Why? 269 00:13:51,680 --> 00:13:54,160 Ma'am, consultancy service income falls under 44ADA. 270 00:13:54,240 --> 00:13:55,800 So, 50% of the expenses... 271 00:14:00,320 --> 00:14:03,240 - That's not a shortcut. - It's not a shortcut but smart tax planning. 272 00:14:03,360 --> 00:14:05,720 In a private limited company, the equity will be fifty-fifty. 273 00:14:05,760 --> 00:14:09,400 - So, your salary is not included in this Rs. 9 lakhs. - Right. 274 00:14:09,480 --> 00:14:10,480 And hers is. 275 00:14:10,520 --> 00:14:12,200 Ma'am, she's the proprietor. It's all hers. 276 00:14:12,240 --> 00:14:14,760 She doesn't draw anything called a salary. The loot is hers. 277 00:14:14,840 --> 00:14:18,000 - How do you decide how much money you draw from the company? - Loot! 278 00:14:18,120 --> 00:14:22,560 Ma'am, she draws Rs. 1 to 1.5 lakhs as per her needs, in a month. 279 00:14:22,680 --> 00:14:24,600 So, profit after taxes was basically nil. 280 00:14:24,720 --> 00:14:26,280 No, ma'am. After deducting the expenses, 281 00:14:26,360 --> 00:14:28,000 we paid about Rs. 25 lakhs in tax. 282 00:14:28,080 --> 00:14:29,640 Rs. 61 to 62 lakhs is the PAT. 283 00:14:29,720 --> 00:14:32,880 Who are the six people you pay salaries to? 284 00:14:32,960 --> 00:14:35,880 Two people in order processions, another two handling Instagram. 285 00:14:35,960 --> 00:14:38,120 Do artisan salaries fall under COGS? 286 00:14:38,200 --> 00:14:39,200 That's right. 287 00:14:39,240 --> 00:14:40,360 Who draws the highest salary? 288 00:14:40,400 --> 00:14:42,680 The designer, who draws as much as me. 289 00:14:42,800 --> 00:14:44,800 How much? We don't know yours. 290 00:14:44,880 --> 00:14:46,280 Ma'am, 1.5 'peti'. 291 00:14:46,760 --> 00:14:48,680 - Rs. 1.5 lakhs. She draws 1.5 lakhs. Rs. 1.5 lakhs. 292 00:14:48,720 --> 00:14:50,640 "Peti"! Love it. 293 00:14:50,720 --> 00:14:51,720 Great. 294 00:14:52,320 --> 00:14:54,000 Elaborate on your channel distribution. 295 00:14:54,080 --> 00:14:57,240 82% of our sales come from our own website. 296 00:14:57,320 --> 00:15:00,640 About 8 to 9%, which is our export contribution, 297 00:15:00,720 --> 00:15:02,280 majorly comes from Etsy. 298 00:15:02,360 --> 00:15:03,960 Out of the remaining 10%, 299 00:15:04,040 --> 00:15:05,760 7% is Amazon's contribution 300 00:15:05,960 --> 00:15:08,960 and 3% comes from Myntra, AJIO and Eternz. 301 00:15:09,040 --> 00:15:13,240 If you look at the brands Melorra, GIVA or CaratLane, 302 00:15:13,320 --> 00:15:15,120 offline is a very big play. 303 00:15:15,200 --> 00:15:17,120 What's your vision for offline? 304 00:15:17,200 --> 00:15:19,960 In the next three months, we're opening an EBO in Jaipur. 305 00:15:24,800 --> 00:15:25,840 Then why offline? 306 00:15:25,920 --> 00:15:29,080 Ma'am, when we started, nobody knew us. 307 00:15:29,320 --> 00:15:31,680 We were just a shop in the crowd. 308 00:15:31,800 --> 00:15:33,240 Today, we're a brand. 309 00:15:33,320 --> 00:15:34,640 Had you been a brand, 310 00:15:34,720 --> 00:15:37,040 you would've had a lot more business in marketplaces too 311 00:15:37,720 --> 00:15:39,960 because people do branded searches in marketplaces. 312 00:15:40,040 --> 00:15:42,720 Ma'am, every marketplace has a different commission. 313 00:15:42,840 --> 00:15:45,040 Some have 25%, others have 13%. 314 00:15:45,120 --> 00:15:46,760 They press for a price match. 315 00:15:46,880 --> 00:15:50,080 You'll also have to run end of season and other sales too. 316 00:15:50,160 --> 00:15:53,560 Had our pricing in marketplaces been lower than our website, 317 00:15:53,640 --> 00:15:55,920 it'd cannibalize our sales as our customers would buy from them. 318 00:15:55,920 --> 00:15:58,840 If we separate the marketplace section, 319 00:15:58,960 --> 00:16:01,040 we could strengthen our pricing game 320 00:16:01,120 --> 00:16:02,600 that wouldn't compare to our website, 321 00:16:02,720 --> 00:16:04,480 we'll acquire customers from there 322 00:16:04,560 --> 00:16:06,760 and make them our customers, which is the final goal. 323 00:16:13,480 --> 00:16:15,480 Sir, the entire collection on the website 324 00:16:15,560 --> 00:16:17,040 would be available in stores too. 325 00:16:17,160 --> 00:16:19,200 - You need to think about it. - Yes. 326 00:16:19,360 --> 00:16:22,000 It's because... I'm a first investor in GIVA. 327 00:16:22,080 --> 00:16:23,880 What sells online 328 00:16:24,000 --> 00:16:25,760 might not necessarily sell offline too 329 00:16:25,840 --> 00:16:27,480 in this lifestyle category. 330 00:16:27,560 --> 00:16:28,680 Keep your mind open. 331 00:16:28,760 --> 00:16:29,760 Understood, sir. 332 00:16:30,560 --> 00:16:32,680 Tell me one thing. What's your repeat rate? 333 00:16:32,760 --> 00:16:35,800 Sir, our month-on-month repeat is somewhere around 15%. 334 00:16:35,880 --> 00:16:38,240 - And 12 months? - 25 to 26%, sir. 335 00:16:40,840 --> 00:16:43,080 And you have a mere repeat of 15%! 336 00:16:43,840 --> 00:16:46,960 Currently, our demand is sorted to a certain extent 337 00:16:47,040 --> 00:16:48,040 and supply is sorted. Both... 338 00:16:48,080 --> 00:16:49,760 No, define sorted. 339 00:16:49,840 --> 00:16:50,920 - Let me... - Yes. 340 00:16:51,000 --> 00:16:52,480 The missing layer here is tech. 341 00:16:52,560 --> 00:16:54,600 We currently don't do retention marketing. 342 00:16:56,480 --> 00:16:59,000 'Retention Marketing are strategies' 343 00:16:59,160 --> 00:17:01,280 'that help keep existing customers' 344 00:17:01,520 --> 00:17:04,560 'loyal and engaged.' 345 00:17:05,040 --> 00:17:07,240 'For example, birthday discounts,' 346 00:17:07,440 --> 00:17:10,360 'cashback offers and email campaigns.' 347 00:17:10,880 --> 00:17:13,840 'Retargeting is a form of retention marketing' 348 00:17:14,000 --> 00:17:16,520 'where we use performance marketing' 349 00:17:16,720 --> 00:17:19,440 'to lure existing rather than new customers' 350 00:17:19,520 --> 00:17:21,840 'by showing them ads.' 351 00:17:22,960 --> 00:17:26,240 - You're spending 24% on performance marketing. - Yes. 352 00:17:26,320 --> 00:17:28,480 - That includes retargeting. - It does, yes. 353 00:17:28,560 --> 00:17:30,040 - So, no need for tech. - True, ma'am. 354 00:17:30,040 --> 00:17:33,040 Is it true you're no longer able to scale the business? 355 00:17:33,120 --> 00:17:34,280 Not at all, ma'am. 356 00:17:34,360 --> 00:17:37,200 - The scope is huge. - Provided all the factors are constant, 357 00:17:37,320 --> 00:17:40,320 we believe we'd unfailingly make double the revenue 358 00:17:40,400 --> 00:17:41,720 in the coming year. 359 00:17:42,040 --> 00:17:44,000 What were last month's sales? 360 00:17:44,160 --> 00:17:46,880 Sir, we closed November at Rs. 1.2 crores, 361 00:17:46,960 --> 00:17:49,440 October at Rs. 1.56 crores, 362 00:17:49,600 --> 00:17:51,880 September at Rs. 1.3 crores, 363 00:17:51,960 --> 00:17:53,880 August at Rs. 1.6 crores 364 00:17:53,960 --> 00:17:55,800 and July at Rs. 1.77 crores. 365 00:17:55,920 --> 00:17:57,400 Why is it diminishing? 366 00:17:58,960 --> 00:18:02,400 Is it because the festive season ended in November? 367 00:18:02,440 --> 00:18:04,400 Yes, sir. There is a basic dip seen in November. 368 00:18:04,480 --> 00:18:06,280 July and August were Raksha Bandhan season, 369 00:18:06,360 --> 00:18:08,880 and we sold rakhis worth Rs. 1 crore in two months. 370 00:18:12,960 --> 00:18:14,120 Why haven't you raised funds yet? 371 00:18:14,160 --> 00:18:15,840 Because when I was working with LazyLad, 372 00:18:16,040 --> 00:18:18,000 we made quick money. 373 00:18:18,200 --> 00:18:20,600 - Hmm. - We burnt it in a year. 374 00:18:20,720 --> 00:18:22,840 I didn't want to repeat that mistake again. 375 00:18:22,960 --> 00:18:26,320 We wanted to make a profitable business irrespective of funding. 376 00:18:26,400 --> 00:18:28,400 We have an offer for you. 377 00:18:31,080 --> 00:18:32,840 This sector is quite attractive. 378 00:18:32,920 --> 00:18:36,240 And both of you have very nice skills. 379 00:18:36,640 --> 00:18:39,680 Ritesh and I would like to come together. 380 00:18:39,760 --> 00:18:41,920 Our offer to you 381 00:18:46,480 --> 00:18:50,600 And 1% royalty until we get our principal 382 00:18:50,800 --> 00:18:52,320 of Rs. 70 lakhs back. 383 00:18:56,840 --> 00:18:58,720 Somewhat! Do you want to give Royalty? 384 00:19:00,080 --> 00:19:01,080 Do you want to accept it? 385 00:19:01,120 --> 00:19:02,960 - Sir... - Nothing is wrong with Royalty. 386 00:19:03,760 --> 00:19:05,440 Why do you want royalty? 387 00:19:05,840 --> 00:19:06,840 I agree. 388 00:19:06,920 --> 00:19:09,640 How will you scale this to Rs. 100 crores in 2 years? 389 00:19:10,520 --> 00:19:13,640 Sir, we will feature a US-targeted collection on Shyle.com 390 00:19:13,720 --> 00:19:16,400 where the pricing will be in dollars and through geo-targeting... 391 00:19:16,480 --> 00:19:18,120 Currently, they are buying it in rupees. 392 00:19:18,200 --> 00:19:20,400 - We give them discounted jewellery. - The NRI? 393 00:19:36,480 --> 00:19:38,200 How will you expand the margin? 394 00:19:39,520 --> 00:19:41,320 Sir, when we launch products of lower category, 395 00:19:41,320 --> 00:19:43,200 such as Mahamrityunjaya Mantra he has. 396 00:19:43,320 --> 00:19:45,680 It is for Rs. 2,700. It costs us approximately Rs. 1,100. 397 00:19:45,840 --> 00:19:47,600 The margins for cost-effective products are better. 398 00:19:47,640 --> 00:19:49,640 It's better to target the customer's threshold. 399 00:19:49,720 --> 00:19:52,440 That is where we can improve our margins. 400 00:19:58,280 --> 00:20:01,040 But I need more equity. 401 00:20:01,120 --> 00:20:02,840 And I think you need more money also. 402 00:20:02,920 --> 00:20:04,920 How much will you need to open a shop? 403 00:20:05,000 --> 00:20:06,280 Around Rs. 20-Rs. 25 lakhs. 404 00:20:06,360 --> 00:20:07,360 Along with the inventory? 405 00:20:07,480 --> 00:20:10,640 Inventory is in Jaipur, so it will be kept limited. 406 00:20:10,720 --> 00:20:12,240 - Rs. 35-Rs. 40 Lakhs. - We'll have to keep multiple things. 407 00:20:12,280 --> 00:20:15,760 You will need that much. I think we need capital for 2-3 stores. 408 00:20:16,520 --> 00:20:18,520 So, I have an offer for you. 409 00:20:18,680 --> 00:20:22,920 1.4 crores for 5%. 410 00:20:30,800 --> 00:20:34,120 Okay! I think you mentioned at the start 411 00:20:34,200 --> 00:20:37,640 that you've built a brand, so you are going offline. 412 00:20:37,720 --> 00:20:39,760 I find it hard to agree with that. 413 00:20:40,320 --> 00:20:43,360 For a business growing at 10% annually, 414 00:20:43,440 --> 00:20:46,280 with 15% of revenue share 415 00:20:46,560 --> 00:20:48,520 coming from old customers, 416 00:20:48,600 --> 00:20:50,880 this is one of the lowest I've seen 417 00:20:51,000 --> 00:20:54,080 when it comes to addressing women 418 00:20:54,160 --> 00:20:56,200 across these categories. 419 00:20:57,160 --> 00:21:00,040 If this is solely propped up on performance marketing, 420 00:21:00,120 --> 00:21:02,600 someone will come along and sell cheaper than you 421 00:21:02,680 --> 00:21:06,640 by charging a 45% gross margin instead of the 55% that you charge. 422 00:21:07,520 --> 00:21:10,760 This is due to the limited moat on your supplier side, 423 00:21:10,840 --> 00:21:12,360 particularly with the artisans. 424 00:21:13,360 --> 00:21:15,760 And I feel that 425 00:21:15,880 --> 00:21:18,600 to do your due diligence, considering your revenue, 426 00:21:18,680 --> 00:21:21,000 the total salary bill is quite low. 427 00:21:21,160 --> 00:21:24,520 This doesn't give me much comfort. 428 00:21:25,880 --> 00:21:27,440 Vineeta ma'am, there is a small thing. 429 00:21:27,560 --> 00:21:29,320 Ma'am, the 15% customer 430 00:21:29,400 --> 00:21:32,080 isn't our revenue. Their revenue is 32%. 431 00:21:32,160 --> 00:21:33,400 Secondly, our moat 432 00:21:33,480 --> 00:21:34,840 lies in having a wide variety of designs, 433 00:21:34,880 --> 00:21:36,600 which aren't made by one person in a workshop. 434 00:21:36,640 --> 00:21:38,920 It's a mix of multiple workshops. 435 00:21:39,000 --> 00:21:41,600 To copy that, one would have to break into all our workshops, 436 00:21:41,680 --> 00:21:43,920 creating a strong defensibility that we've built. 437 00:21:44,040 --> 00:21:46,320 I understand. You have good offers. 438 00:21:46,400 --> 00:21:48,800 I know you came here for all five Shark deal. 439 00:21:48,880 --> 00:21:51,760 But today, it can't be a five Shark deal. 440 00:21:51,840 --> 00:21:54,560 But I wish you lots of money. 441 00:21:54,640 --> 00:21:56,560 I am out. But best of luck. 442 00:21:56,680 --> 00:21:59,080 Radhesh and Astha, you've built a good business. 443 00:21:59,200 --> 00:22:02,880 I think you will face many challenges in scaling it. 444 00:22:03,800 --> 00:22:06,400 In lifestyle businesses like this, 445 00:22:06,480 --> 00:22:09,360 when revenue reaches a certain stage, 446 00:22:09,760 --> 00:22:11,840 there's usually an acceleration in growth. 447 00:22:11,960 --> 00:22:13,640 However, that's not happening in your business. 448 00:22:13,640 --> 00:22:16,760 This is a successful brand, and it will become even more successful. 449 00:22:17,280 --> 00:22:18,880 I have one question. 450 00:22:19,200 --> 00:22:21,240 How big will it become, and by when? 451 00:22:23,360 --> 00:22:25,880 There are many unknowns in this business. 452 00:22:26,000 --> 00:22:27,920 So, unfortunately, I am out today. 453 00:22:28,000 --> 00:22:30,040 But I wish you the very very best. 454 00:22:30,120 --> 00:22:31,480 - Thank you, sir. - Thank you, sir. 455 00:22:32,800 --> 00:22:34,480 You have two offers today. 456 00:22:35,120 --> 00:22:38,200 You have one offer from Anupam for Rs. 28 crores valuation. 457 00:22:38,360 --> 00:22:40,960 The second offer is a joint deal from Namita and me 458 00:22:41,080 --> 00:22:43,440 for Rs. 46.4 crores valuation. 459 00:22:43,560 --> 00:22:45,440 Actually, no! Its valuation is zero. 460 00:22:47,640 --> 00:22:48,840 - Let me finish, Anupam. - Because... 461 00:22:48,880 --> 00:22:50,240 - Let him finish. - You will return their money 462 00:22:50,240 --> 00:22:51,640 by giving them royalty. 463 00:22:51,720 --> 00:22:53,680 - No, that's not true. - Keep that in mind. 464 00:22:56,320 --> 00:22:58,000 Currently, in our luxury segment, 465 00:22:58,120 --> 00:23:00,640 we have 20 hotels that includes one in Jaipur. 466 00:23:00,720 --> 00:23:02,880 We have jewellery shops in all those hotels. 467 00:23:02,960 --> 00:23:04,320 So, we can give you 468 00:23:04,400 --> 00:23:07,120 easy access to retail in those shops. 469 00:23:07,200 --> 00:23:08,800 You think about it. These are the two offers. 470 00:23:08,840 --> 00:23:10,720 You're getting ready-made distribution. 471 00:23:12,120 --> 00:23:13,680 If you want to sell it to NRIs, 472 00:23:13,920 --> 00:23:16,440 there's only one way to do it and it is through me. 473 00:23:17,760 --> 00:23:20,680 There is impulse purchasing in hotel distribution 474 00:23:20,800 --> 00:23:22,680 - when people come. It's huge. - Who will give hotel distribution? 475 00:23:22,720 --> 00:23:25,000 Who lets you put up a shop without rent? 476 00:23:28,960 --> 00:23:31,120 Anyway, you decide. 477 00:23:33,800 --> 00:23:37,080 Let's get rid of royalty even if they want 2%. 478 00:23:37,160 --> 00:23:38,760 This was a good angle. 479 00:23:38,840 --> 00:23:40,960 - The valuation is zero. - That's a cheap shot. 480 00:23:41,760 --> 00:23:43,440 The valuation is zero. 481 00:23:44,440 --> 00:23:47,160 - 1.5% and no royalty. - 1.5%. 482 00:23:47,280 --> 00:23:49,120 What if they say 2%? 483 00:23:57,280 --> 00:23:59,480 We have a counteroffer for the three of you. 484 00:24:00,360 --> 00:24:03,960 The royalty is taken when the exit seems difficult. 485 00:24:04,240 --> 00:24:05,640 This is the hottest segment. 486 00:24:05,760 --> 00:24:08,240 People who deal with gold and diamonds are getting into this. 487 00:24:08,320 --> 00:24:10,280 So, the exit strategy and the safety of your money 488 00:24:10,360 --> 00:24:13,480 I believe that can reduce some of the fear or apprehension. 489 00:24:13,560 --> 00:24:15,200 [music playing] 490 00:24:15,280 --> 00:24:17,560 - I have faith in you. - Listen, you... 491 00:24:17,640 --> 00:24:18,920 He mentioned 492 00:24:19,000 --> 00:24:22,760 - that you will need more money to scale and raise funds. - Yes. 493 00:24:22,840 --> 00:24:24,800 Do you want to give 5% upfront? 494 00:24:26,120 --> 00:24:27,960 - Why will you give that? - If you don't give 5%... 495 00:24:27,960 --> 00:24:29,720 - This is short term, that's long term. - For 1%, 496 00:24:29,720 --> 00:24:31,200 who will sit and work with you? 497 00:24:31,320 --> 00:24:32,520 Think about it logically. 498 00:24:32,600 --> 00:24:34,160 - I am here. - It's not possible. 499 00:24:34,280 --> 00:24:36,000 This is just to get the deal. No one helps. 500 00:24:36,080 --> 00:24:37,680 You tell us the counteroffer. 501 00:24:41,200 --> 00:24:44,360 Namita ma'am and Ritesh sir, our counteroffer is... 502 00:24:44,440 --> 00:24:45,560 Don't you have an offer for him? 503 00:24:45,560 --> 00:24:47,640 No, she's giving us. Tell us. 504 00:24:48,760 --> 00:24:51,000 It's 1.5%... 505 00:24:51,160 --> 00:24:53,960 For Rs. 70 lakhs and no royalty. 506 00:25:05,280 --> 00:25:06,640 Will you give 5%? 507 00:25:06,720 --> 00:25:09,080 - 5% is a waste. - Obviously! 508 00:25:10,240 --> 00:25:12,760 No, that is enough. There is no issue with that. 509 00:25:13,000 --> 00:25:15,280 He is saying 'we'll see that later.' 510 00:25:17,160 --> 00:25:18,520 If you said 'you will see that later.' 511 00:25:18,520 --> 00:25:19,960 - Listen! I... - And your intention 512 00:25:20,080 --> 00:25:22,360 - is not to give royalty... Hold on! - Sir! 513 00:25:22,440 --> 00:25:23,640 - Sir! - I am telling you, 514 00:25:23,720 --> 00:25:26,360 - that your reputation will be tarnished. - Sir... One second. 515 00:25:26,840 --> 00:25:28,320 Sir, I... 516 00:25:29,080 --> 00:25:32,000 I am 100% out. 517 00:25:35,000 --> 00:25:38,920 You just whispered that 'we will see that later', 518 00:25:39,320 --> 00:25:42,600 it is absolutely unacceptable. 519 00:25:45,080 --> 00:25:47,040 No, I didn't say that. 520 00:25:47,120 --> 00:25:48,680 We were... 521 00:25:48,760 --> 00:25:50,440 - We are not that kind of people. - That... Yes! 522 00:25:50,440 --> 00:25:53,040 If you accept a 0.5% royalty... 523 00:25:53,280 --> 00:25:55,000 If you accept our deal 524 00:25:55,080 --> 00:25:57,080 and commit to it, you have to give it. 525 00:25:57,160 --> 00:25:58,800 - You can't deal with it later. - Ma'am... 526 00:25:58,800 --> 00:25:59,720 - You can't back out. - Ma'am... 527 00:25:59,840 --> 00:26:03,200 - I don't know... - You seem honest, so I'd like to believe you. 528 00:26:03,280 --> 00:26:05,360 - We are not those people. - Trust us, 529 00:26:05,440 --> 00:26:07,160 we won't do that. Sir... 530 00:26:07,240 --> 00:26:08,600 - I believe you. - We... 531 00:26:08,680 --> 00:26:10,840 We didn't say that, sir. We haven't said that. 532 00:26:10,960 --> 00:26:13,240 - I believe you! - She believes you, so that's it. 533 00:26:13,360 --> 00:26:15,600 - Astha and Radhesh make a decision. - She trusts you. 534 00:26:15,720 --> 00:26:18,160 Come on, guys! Whatever it is. 535 00:26:21,560 --> 00:26:23,040 Namita and Ritesh, we have a deal. 536 00:26:23,040 --> 00:26:24,040 Good choice. 537 00:26:29,560 --> 00:26:31,840 Namita ma'am made the royalty half. 538 00:26:31,920 --> 00:26:36,080 So, Anupam and Vineeta thought I said 'we will see that later.' 539 00:26:36,440 --> 00:26:40,440 So, they might have thought that we belong to the category of pitchers 540 00:26:40,520 --> 00:26:42,920 who will back out later by agreeing here. 541 00:26:43,080 --> 00:26:45,960 But believe us, we are not such people. 542 00:26:54,040 --> 00:26:56,600 He is asking for a valuation of Rs. 28 crores. 543 00:26:56,960 --> 00:26:59,600 We will close at Rs. 18 crores this year. 544 00:26:59,720 --> 00:27:01,200 The math does not fit. 545 00:27:01,280 --> 00:27:03,520 So, we didn't have a counteroffer for him. 546 00:27:03,640 --> 00:27:07,080 Also, Namita ma'am is a fashionista. 547 00:27:07,160 --> 00:27:09,160 She looked beautiful in my jewellery. 548 00:27:09,240 --> 00:27:11,000 And she was generous. 549 00:27:11,080 --> 00:27:13,240 We were ready for 1.5% for Rs. 70 lakhs. 550 00:27:13,320 --> 00:27:14,920 Royalty was something 551 00:27:15,000 --> 00:27:17,120 I hoped we could get rid of, but it's fine. 552 00:27:22,440 --> 00:27:24,560 [music playing] 553 00:27:28,280 --> 00:27:31,840 Welcome to ACKO Changemakers, where we really welcome change. 554 00:27:31,920 --> 00:27:35,160 It has been beautifully portrayed here 555 00:27:35,360 --> 00:27:38,200 behind us on this changemakers wall. 556 00:27:38,320 --> 00:27:41,400 With the perfect mix of traditional and modern mix, we promote 557 00:27:41,480 --> 00:27:44,560 inclusivity, gender equality and sustainability. 558 00:27:44,760 --> 00:27:48,840 And today's changemakers are Radhesh and Astha. Welcome. 559 00:27:48,920 --> 00:27:49,920 - Thank you! - Thank you! 560 00:27:50,000 --> 00:27:52,360 - Of course! Congratulations! - Thank you! 561 00:27:55,680 --> 00:27:57,920 But it had a happy ending. So, I am happy. 562 00:27:58,000 --> 00:28:01,360 - We are glad. - I have to say that your product and brand, 563 00:28:01,520 --> 00:28:04,280 much like what ACKO is talking about, 564 00:28:04,360 --> 00:28:07,480 is a perfect blend of tradition and modernity. 565 00:28:07,600 --> 00:28:11,200 It's amazing. Your designs are beautiful. 566 00:28:11,280 --> 00:28:13,040 And thank you for bringing this innovation 567 00:28:13,160 --> 00:28:14,720 and change to this industry. 568 00:28:14,800 --> 00:28:16,840 Just like they are bringing a change in their industry, 569 00:28:16,840 --> 00:28:19,440 similarly, ACKO, with their revolutionary offering, 570 00:28:19,520 --> 00:28:21,800 is transforming the insurance landscape. 571 00:28:21,880 --> 00:28:26,480 If your car breaks down in the middle of the road, don't worry. 572 00:28:26,800 --> 00:28:29,760 You get roadside support with ACKO car insurance. 573 00:28:29,840 --> 00:28:32,520 Also, you get real-time updates of car repairs. 574 00:28:32,800 --> 00:28:35,520 I have told you this. Now, I want to tell you 575 00:28:35,600 --> 00:28:39,360 that we are giving you a memento from Shark Tank and ACKO 576 00:28:39,440 --> 00:28:41,760 - to celebrate your time in the Tank. - Thank you! 577 00:28:41,840 --> 00:28:43,800 And to celebrate your two Sharks. 578 00:28:44,320 --> 00:28:47,040 - We are so glad! - That's a very sweet photo. 579 00:28:47,440 --> 00:28:48,560 [camera shutter clicks] 580 00:28:48,920 --> 00:28:51,840 'Shark Tank India, co-presented by ACKO Insurance, 581 00:28:51,920 --> 00:28:54,040 'PokerBaazi and Swiggy Instamart.' 582 00:28:54,120 --> 00:28:56,720 'Co-powered by Adani, and Jaquar Bath and Light.' 583 00:28:56,840 --> 00:28:59,840 'And partners, Rayzon Solar, ICICI Direct,' 584 00:28:59,920 --> 00:29:01,480 'Lenskart and Sofy.' 585 00:29:03,560 --> 00:29:05,280 [theme music playing] 586 00:29:25,080 --> 00:29:26,280 Hello, Sharks. 587 00:29:27,920 --> 00:29:29,960 This is an old building. 588 00:29:30,640 --> 00:29:32,640 It is Mumbai's Royal Opera House. 589 00:29:32,760 --> 00:29:34,680 It is more than 100 years old. 590 00:29:34,760 --> 00:29:37,800 There are thousands of heritage buildings 591 00:29:37,920 --> 00:29:41,360 and ancient monuments in every corner of India, 592 00:29:41,560 --> 00:29:44,680 such as forts, palaces, and ancient temples, 593 00:29:44,760 --> 00:29:47,320 many of which are in a state of ruin. 594 00:29:48,040 --> 00:29:51,640 But they are more than treasure. 595 00:29:51,960 --> 00:29:53,840 This invaluable treasure of knowledge 596 00:29:53,920 --> 00:29:55,880 is slowly disappearing today due to 597 00:29:55,960 --> 00:29:57,360 urban development, 598 00:29:57,440 --> 00:30:02,320 people's negligence and environmental pollution. 599 00:30:02,800 --> 00:30:04,920 There will come a time, Sharks, 600 00:30:05,400 --> 00:30:06,600 when such buildings 601 00:30:06,680 --> 00:30:10,520 will only exist in photographs and books. 602 00:30:16,640 --> 00:30:18,760 And he is my nephew. 603 00:30:23,880 --> 00:30:26,360 Wow! Three generations! 604 00:30:32,480 --> 00:30:34,920 The mission is to restore and revitalise 605 00:30:35,000 --> 00:30:36,480 the country's ancient heritage. 606 00:30:36,840 --> 00:30:39,600 In other words, to conserve them. 607 00:30:39,880 --> 00:30:42,440 So that they turn from this 608 00:30:43,680 --> 00:30:45,200 to this. 609 00:30:48,280 --> 00:30:52,360 Sharks, we use scientific and traditional methods 610 00:30:52,480 --> 00:30:54,480 employing like-for-like materials 611 00:30:54,600 --> 00:30:58,560 with minimal intervention to restore 612 00:30:58,760 --> 00:31:01,640 these monuments to their past glory. 613 00:31:02,840 --> 00:31:06,280 Sir, I have worked alongside my two generations 614 00:31:06,360 --> 00:31:08,560 to restore over 300 heritage sites 615 00:31:25,080 --> 00:31:26,960 and it will promote heritage tourism 616 00:31:27,040 --> 00:31:28,800 and keep our ancient culture 617 00:31:28,880 --> 00:31:31,800 alive and accessible for future generations. 618 00:31:32,440 --> 00:31:37,440 - And for that, our ask is only Rs. 3 crores... - Oh! 619 00:31:37,720 --> 00:31:40,520 And in return, we will give our entire company... 620 00:31:40,640 --> 00:31:41,640 Huh? 621 00:31:43,000 --> 00:31:44,000 Our company's 1%. 622 00:31:44,040 --> 00:31:45,040 Okay! 623 00:31:49,160 --> 00:31:51,360 if it's here now, it will be here tomorrow. 624 00:31:51,480 --> 00:31:54,400 You are here with a huge valuation. 625 00:31:54,840 --> 00:31:56,680 Make me your nephew. 626 00:31:57,760 --> 00:31:59,440 Uncle and nephew, add one more nephew. 627 00:31:59,520 --> 00:32:01,640 - Please join us, sir. - Should I? 628 00:32:01,720 --> 00:32:05,120 You need to be restored first. You are a heritage property. 629 00:32:05,200 --> 00:32:07,280 [laughing] 630 00:32:07,720 --> 00:32:09,920 Mr. Savani, Ram and Jagrut, 631 00:32:10,240 --> 00:32:12,960 - welcome to Shark Tank India Season 4. - Thank you! 632 00:32:13,120 --> 00:32:15,600 It is an interesting business. 633 00:32:15,720 --> 00:32:17,840 Tell us about how this business started 634 00:32:18,000 --> 00:32:19,960 and where are you currently? 635 00:32:20,040 --> 00:32:22,360 Basically, I was a mason. 636 00:32:22,560 --> 00:32:24,520 - Wow! - And because of that, 637 00:32:24,640 --> 00:32:26,520 I saw my dad 638 00:32:26,600 --> 00:32:29,720 work with lime, so I had this idea. 639 00:32:30,000 --> 00:32:34,400 I found someone who asked me if I knew about lime. I said, 'I know.' 640 00:32:34,720 --> 00:32:36,680 Back then, he introduced me 641 00:32:36,800 --> 00:32:39,360 to an architect who specialised in heritage. 642 00:32:39,520 --> 00:32:40,680 He interviewed me. 643 00:32:40,760 --> 00:32:43,200 'Do you know how to work with lime?' 644 00:32:43,280 --> 00:32:45,880 I agreed. I said, 'Lime is soaked.' 645 00:32:48,520 --> 00:32:50,920 'And then jaggery, fenugreek, and other ingredients are added 646 00:32:50,960 --> 00:32:52,240 and ground together. 647 00:32:52,400 --> 00:32:56,080 You ground it and use the mix. 648 00:32:56,160 --> 00:32:59,120 That mix was used to construct houses 649 00:32:59,240 --> 00:33:01,240 that lasted 1,000-1,200 years without any issues. 650 00:33:01,320 --> 00:33:03,600 This is what my dad said. 651 00:33:03,760 --> 00:33:05,920 This is how I entered this field 652 00:33:06,040 --> 00:33:09,000 and they gave me a lot of respect. 653 00:33:09,080 --> 00:33:10,600 They also taught me what I didn't know. 654 00:33:17,360 --> 00:33:19,000 In Hyderabad, Sir Ronald Ross, 655 00:33:23,920 --> 00:33:28,120 on 20 August 1997... His discovery completed 100 years. 656 00:33:28,360 --> 00:33:31,120 People from all over the world attended. I restored that building. 657 00:33:31,240 --> 00:33:32,440 - Okay! - Yes. 658 00:33:33,160 --> 00:33:34,960 Ram, what is your background? 659 00:33:35,040 --> 00:33:36,440 I am a civil engineer. 660 00:33:36,520 --> 00:33:38,640 Which college did you complete Civil Engineering from? 661 00:33:39,080 --> 00:33:41,120 From Sardar Patel College of Engineering. 662 00:33:57,120 --> 00:33:59,240 I went to the US for five years. 663 00:33:59,360 --> 00:34:01,360 I did my Masters degree for two years 664 00:34:01,520 --> 00:34:03,400 in Construction Engineering and management. 665 00:34:03,520 --> 00:34:04,920 Where did you complete your degree? 666 00:34:06,600 --> 00:34:07,760 Got it. 667 00:34:11,920 --> 00:34:13,960 The architect Louis Kahn 668 00:34:14,040 --> 00:34:18,000 made a beautiful architecture in the 1960s. 669 00:34:18,120 --> 00:34:20,440 The institute thought of restoring it. 670 00:34:20,600 --> 00:34:22,960 - Yes. - The project went on for three long years. 671 00:34:23,120 --> 00:34:26,440 However, the alumni rebelled 672 00:34:26,520 --> 00:34:28,120 because, during the restoration, 673 00:34:28,200 --> 00:34:31,200 the original essence of the structure was altered. 674 00:34:31,320 --> 00:34:35,120 And the soul of the building is no longer the same. 675 00:34:35,360 --> 00:34:38,960 How do you ensure to preserve that? 676 00:34:39,080 --> 00:34:41,760 - First of all, Vikram Sarabhai Library in IIM... - Yes. 677 00:34:41,840 --> 00:34:42,760 We restored it. 678 00:34:42,880 --> 00:34:45,360 And we won a UNESCO award for it. 679 00:34:51,720 --> 00:34:54,760 There is structural conservation. For example, The Royal Opera House 680 00:34:54,880 --> 00:34:56,240 was in a perilous state. 681 00:34:56,400 --> 00:34:58,280 We carried out structural strengthening on it. 682 00:34:58,360 --> 00:35:01,200 Along with that, there was a lot of intricate artwork on the front, 683 00:35:01,280 --> 00:35:02,600 which was made of limestone. 684 00:35:02,680 --> 00:35:05,480 If you look at the pediment of the statues, 685 00:35:05,560 --> 00:35:09,680 many parts were missing or broken. 686 00:35:09,760 --> 00:35:12,840 We restored it using the same limestone, 687 00:35:12,960 --> 00:35:15,480 applying various techniques 688 00:35:15,600 --> 00:35:17,920 such as Dutchman repairs, lime plastering 689 00:35:18,000 --> 00:35:19,040 and stainless steel stitching... 690 00:35:19,080 --> 00:35:20,920 I've visited it a couple of times. 691 00:35:21,040 --> 00:35:24,440 And I must say that you've done an excellent job. 692 00:35:26,880 --> 00:35:29,240 I can't say for certain if the soul has been preserved, 693 00:35:29,320 --> 00:35:30,720 as I wasn't there back in the day. 694 00:35:30,920 --> 00:35:32,080 So, I don't know that. 695 00:35:32,160 --> 00:35:34,080 But now, it feels like 696 00:35:34,160 --> 00:35:38,240 there is an outstanding opera house in our country in Mumbai. 697 00:35:40,320 --> 00:35:41,680 So, do you 698 00:35:41,800 --> 00:35:44,880 restore for aesthetic reasons 699 00:35:45,040 --> 00:35:47,720 or leakage and other problems? 700 00:35:47,800 --> 00:35:50,800 Why do you get contracts? 701 00:35:50,880 --> 00:35:51,800 We get both types of contracts. 702 00:35:51,880 --> 00:35:53,600 There is structural conservation. 703 00:35:53,680 --> 00:35:55,400 Second, there is facade restoration. 704 00:36:00,640 --> 00:36:01,960 we did its facade restoration. 705 00:36:02,080 --> 00:36:03,520 There is an old palace in Khajuraho, 706 00:36:03,600 --> 00:36:06,440 we are restoring it for a heritage hotel. 707 00:36:06,520 --> 00:36:08,520 It has structural conservation work 708 00:36:08,680 --> 00:36:10,120 and lime plastering. 709 00:36:10,200 --> 00:36:12,240 It's a combination of both. 710 00:36:12,400 --> 00:36:15,520 How many Indian companies 711 00:36:15,640 --> 00:36:18,640 specialise in restoration and conservation 712 00:36:18,720 --> 00:36:19,720 on your scale? 713 00:36:19,760 --> 00:36:22,680 You might rarely come across such companies. 714 00:36:22,760 --> 00:36:23,760 Still? 715 00:36:23,840 --> 00:36:24,720 Around two to four companies? 716 00:36:24,800 --> 00:36:26,720 There might be around two to three companies. 717 00:36:26,800 --> 00:36:29,320 I am asking this because if you go to Europe, 718 00:36:29,400 --> 00:36:32,400 you see many of its monuments 719 00:36:32,480 --> 00:36:35,280 being restored throughout the year. 720 00:36:35,600 --> 00:36:37,320 It is a continuous project. 721 00:36:37,440 --> 00:36:40,240 I want to understand its structure here 722 00:36:40,320 --> 00:36:42,920 in comparison to there. 723 00:36:43,000 --> 00:36:45,240 85 to 90 per cent of our clients are from the government. 724 00:36:53,680 --> 00:36:55,880 ...but not maintenance. 725 00:36:55,960 --> 00:36:57,320 - They neglect that. - Correct. 726 00:36:57,400 --> 00:36:59,640 Let me tell you something positive, as well. 727 00:36:59,720 --> 00:37:02,400 There is an Uparkot Fort in Junagadh. 728 00:37:02,560 --> 00:37:05,360 We restored that fort under Gujarat tourism. 729 00:37:05,440 --> 00:37:07,400 After that, the government gave 730 00:37:07,480 --> 00:37:09,120 it to us to maintain and operate it. 731 00:37:23,760 --> 00:37:25,480 The entry fee is Rs 100. 732 00:37:25,600 --> 00:37:28,000 - So, you can take tickets and scale it up. - Yes. 733 00:37:28,120 --> 00:37:30,440 How long did the project take? How much money was involved? 734 00:37:30,440 --> 00:37:32,440 It took 18 months. 735 00:37:32,520 --> 00:37:36,360 We spent Rs 72 crores on the Uparkot Fort. 736 00:37:36,440 --> 00:37:38,320 How much was your margin in that? 737 00:37:44,240 --> 00:37:48,240 There are specific slabs 738 00:37:48,360 --> 00:37:51,680 after which we must return the money to the government. 739 00:37:51,800 --> 00:37:53,880 - Oh! So, you have to share the revenue. - Yes. 740 00:37:54,000 --> 00:37:56,560 It means you must ensure the footfall. 741 00:37:56,640 --> 00:37:58,080 - That's a part of the tender. - Yes. 742 00:38:03,840 --> 00:38:06,000 Our smallest project was worth Rs 2 lakhs. 743 00:38:06,840 --> 00:38:10,720 Our largest project is Ambernath Shiv Mandir. 744 00:38:16,560 --> 00:38:19,160 It costs Rs 110 crores excluding GST. 745 00:38:20,200 --> 00:38:21,800 How many years will this project take? 746 00:38:21,880 --> 00:38:23,920 It will require three years. 747 00:38:24,600 --> 00:38:29,160 Since 85 to 90 per cent of your revenue is from the government, 748 00:38:29,480 --> 00:38:31,560 how much does the government 749 00:38:31,760 --> 00:38:35,160 spend on restoration projects within a year? 750 00:38:35,240 --> 00:38:36,520 It varies from state to state. 751 00:38:36,640 --> 00:38:38,000 Should I tell you about Maharashtra? 752 00:38:38,040 --> 00:38:38,680 Yes, sure. 753 00:38:38,800 --> 00:38:41,960 What Maharashtra spends on archaeology 754 00:38:42,120 --> 00:38:45,800 must be around Rs 200 crores yearly. 755 00:38:45,880 --> 00:38:48,520 So, will the total be 20 times this? 756 00:38:48,640 --> 00:38:51,240 Can the total market spend be around Rs 4000 crores? 757 00:38:51,320 --> 00:38:52,520 It might be more. 758 00:38:52,640 --> 00:38:54,400 Today, MSRDC 759 00:38:54,520 --> 00:38:58,040 has started working on temples and roads. 760 00:38:58,160 --> 00:39:00,880 - Okay. - Then, we have tourism, archaeology, 761 00:39:00,960 --> 00:39:03,880 smart cities, etc. All the various departments 762 00:39:03,960 --> 00:39:05,920 might accumulate a hefty budget. 763 00:39:06,040 --> 00:39:07,640 Counting it is difficult. 764 00:39:09,280 --> 00:39:10,880 Please tell us something about the numbers. 765 00:39:10,920 --> 00:39:13,600 How much has your revenue been in the last three years? 766 00:39:13,680 --> 00:39:18,000 Our gross revenue for the last financial year was Rs 124.7 crores. 767 00:39:18,080 --> 00:39:18,880 Wow! 768 00:39:19,000 --> 00:39:20,360 Wow! 769 00:39:20,920 --> 00:39:23,160 Is this the largest on Shark Tank so far? 770 00:39:23,280 --> 00:39:25,680 - I think so. - I don't think anyone has come with 771 00:39:25,760 --> 00:39:27,560 - a gross revenue of Rs 124 crores. - Yeah, I don't remember. - Okay. 772 00:39:27,560 --> 00:39:29,120 What about the year before that? 773 00:39:29,200 --> 00:39:30,440 Rs 110 crores. 774 00:39:30,640 --> 00:39:32,720 How much have you earned this year? 775 00:39:32,800 --> 00:39:35,240 In our accounts, we have earned 776 00:39:35,320 --> 00:39:38,440 - more than Rs 115 crores this year. - Oh! 777 00:39:38,520 --> 00:39:40,920 Did you get orders for 115 crores, or do you have the revenue? 778 00:39:40,960 --> 00:39:42,120 We've received the payment. 779 00:39:42,240 --> 00:39:44,000 - It's okay that you got the payment. - The work done... 780 00:39:44,040 --> 00:39:46,600 - Wait a second. - Yes. What about the work done? 781 00:39:46,680 --> 00:39:49,600 The work we've done is worth more than 175 crores. 782 00:39:49,920 --> 00:39:53,040 - No. - Please tell us according to your revenue accounting. 783 00:39:53,120 --> 00:39:55,000 It is Rs 115 crores so far. 784 00:39:55,080 --> 00:39:56,880 How much are you expecting for the entire year? 785 00:39:56,920 --> 00:39:58,160 Rs 301 crores. 786 00:40:00,160 --> 00:40:01,800 Wait a second. Let's talk again. 787 00:40:14,200 --> 00:40:16,160 ...you will be filing 788 00:40:16,240 --> 00:40:17,960 a revenue of Rs 300 crores. 789 00:40:18,040 --> 00:40:18,840 More than that. 790 00:40:18,920 --> 00:40:20,880 Why? Did you crack a significant project? 791 00:40:20,960 --> 00:40:23,280 Our current work orders are Rs 850 crores. 792 00:40:23,360 --> 00:40:24,600 Not all of them are running. 793 00:40:24,720 --> 00:40:27,400 Some projects happen in phases. 794 00:40:28,200 --> 00:40:30,080 How many work orders did you get last year, 795 00:40:30,400 --> 00:40:32,320 translating to a revenue of Rs 100 crores? 796 00:40:32,400 --> 00:40:33,760 They must be around Rs 450 crores. 797 00:40:39,840 --> 00:40:41,680 However, the work started late. 798 00:40:41,760 --> 00:40:44,320 We got the Kshetra Mahabaleshwar project 799 00:40:44,400 --> 00:40:47,640 just before the elections. It is worth Rs 125 crores. 800 00:40:47,720 --> 00:40:49,280 If we consider it with GST, 801 00:40:49,360 --> 00:40:52,640 the valuation of two of our projects comes up to Rs 250 crores. 802 00:40:53,200 --> 00:40:55,000 - How much profit have you earned in the last three years? - Okay. 803 00:40:55,040 --> 00:40:58,080 This year's profit was 7.5 per cent. 804 00:40:58,680 --> 00:40:59,680 Is this PAT? 805 00:40:59,720 --> 00:41:00,920 It is PAT. 806 00:41:01,040 --> 00:41:02,760 Before that, it was also nine per cent. 807 00:41:03,000 --> 00:41:04,800 Before that also, it was nine per cent. 808 00:41:04,880 --> 00:41:06,160 How much profit have you earned this year? 809 00:41:06,200 --> 00:41:09,160 It should be around 12 to 15 per cent this year. 810 00:41:10,520 --> 00:41:13,920 So, are you earning a profit of Rs 10 crores every year? 811 00:41:14,160 --> 00:41:16,000 Right? 812 00:41:16,120 --> 00:41:17,960 How much tax did you pay last year? 813 00:41:18,920 --> 00:41:22,080 Our income tax was 3.1 per cent. 814 00:41:22,760 --> 00:41:24,240 What are your receivables? 815 00:41:24,360 --> 00:41:26,040 These are government contracts. 816 00:41:26,120 --> 00:41:27,960 It can lead to delays in getting money. 817 00:41:28,080 --> 00:41:31,320 We can consider an average delay of 15 days to two months. 818 00:41:31,440 --> 00:41:33,200 - It doesn't exceed two months. - No. 819 00:41:33,880 --> 00:41:37,440 You said that you've worked for Rs 175 crores. 820 00:41:37,520 --> 00:41:40,920 - Yes. - Out of that, you received a payment of Rs 115 crores. 821 00:41:41,040 --> 00:41:43,840 - So, Rs 60 crores is your outstanding. - Yes. 822 00:41:43,920 --> 00:41:46,760 According to that, your receivables are around three months 823 00:41:46,920 --> 00:41:48,480 based on Rs 300 crores of revenue. 824 00:41:50,200 --> 00:41:51,200 - Mr Shantilal? - Yes? 825 00:41:51,280 --> 00:41:53,680 Do you supervise the work, or have you handed over to them? 826 00:41:53,840 --> 00:41:55,760 - I supervise. - What do you manage? 827 00:41:55,880 --> 00:41:58,120 I go to Mumbai Fort 828 00:41:58,240 --> 00:42:00,360 and visit a couple of our sites. 829 00:42:00,440 --> 00:42:02,320 - Who manages the government relations? - I do. 830 00:42:02,400 --> 00:42:03,520 - Do you? - Yes. 831 00:42:03,640 --> 00:42:05,080 - Don't you handle it? - No. 832 00:42:05,160 --> 00:42:07,840 I've worked with government companies. 833 00:42:07,960 --> 00:42:10,640 You are working with government departments. 834 00:42:11,160 --> 00:42:14,880 The receivable cycle that you've mentioned 835 00:42:15,120 --> 00:42:16,640 is impossible. 836 00:42:18,400 --> 00:42:20,760 Unless you're paying a facilitation 837 00:42:20,840 --> 00:42:23,680 or consultation fee, it's impossible. 838 00:42:24,560 --> 00:42:27,400 So, I don't understand what's not matching here. 839 00:42:27,680 --> 00:42:29,200 But you explained it like this. 840 00:42:29,280 --> 00:42:33,000 The income will be Rs 300 crores as you've booked Rs 850 crores. 841 00:42:33,080 --> 00:42:34,640 You said receivables will take 35 days, 842 00:42:34,720 --> 00:42:36,640 but it's three months in reality. 843 00:42:36,720 --> 00:42:38,640 You're not telling us everything. 844 00:42:38,720 --> 00:42:42,520 Either you're not telling us the numbers, or you're hiding. 845 00:42:45,040 --> 00:42:48,000 RTGS takes place in the final stage. 846 00:42:56,480 --> 00:42:58,320 That's why it is clear. 847 00:42:58,400 --> 00:43:00,120 Some bills are in the process, 848 00:43:00,240 --> 00:43:02,160 some are being prepared, some are being checked, 849 00:43:02,240 --> 00:43:04,600 and some are in the accounts. 850 00:43:04,680 --> 00:43:08,400 Around Rs 2 crores to Rs 3 crores must've transferred by now. 851 00:43:08,520 --> 00:43:10,480 That's how our cycle goes on. 852 00:43:11,120 --> 00:43:13,240 Please tell us how much cash you have in the bank. 853 00:43:13,360 --> 00:43:16,680 It fluctuates. However, it must be around Rs 1 - Rs 2 crores. 854 00:43:17,520 --> 00:43:19,480 You've made 855 00:43:19,560 --> 00:43:23,400 PAT of Rs 7 crores to Rs 8 crores in the last few years. 856 00:43:23,680 --> 00:43:27,000 Then, why doesn't your bank have around Rs 40 crores? 857 00:43:28,640 --> 00:43:32,320 We have to pay a security deposit for government projects. 858 00:43:32,400 --> 00:43:34,640 - How much is that? - It can be 5 per cent or 2 per cent. 859 00:43:34,680 --> 00:43:36,080 How much was it in total last year? 860 00:43:36,120 --> 00:43:38,400 It must be around Rs 35 crores. 861 00:43:40,720 --> 00:43:43,400 Do you have a dividend for yourself? 862 00:43:43,480 --> 00:43:46,320 Or did you take returns from the company as a promoter? 863 00:43:46,440 --> 00:43:49,440 No. We plan on starting an IPO in the future. 864 00:43:49,640 --> 00:43:51,120 We're planning in that direction. 865 00:43:51,200 --> 00:43:55,280 - So, you're only taking a salary as of now. That's all. - Yes. 866 00:43:57,400 --> 00:43:59,880 Mr Savani, Ram and Jagrut, 867 00:44:00,160 --> 00:44:02,920 I might not be of any help in this business of yours. 868 00:44:03,000 --> 00:44:06,920 It is a specialised construction and restoration business. 869 00:44:07,680 --> 00:44:08,880 My aim 870 00:44:09,040 --> 00:44:12,560 is to support young startup founders 871 00:44:12,640 --> 00:44:15,240 who need money, mentorship, 872 00:44:15,320 --> 00:44:17,560 expertise, and knowledge. 873 00:44:18,040 --> 00:44:20,240 You have all of it. 874 00:44:20,760 --> 00:44:22,840 So, today, 875 00:44:23,160 --> 00:44:25,520 I won't be able to join 876 00:44:25,680 --> 00:44:28,760 - your company, Savani. I am out. - Thank you. 877 00:44:28,840 --> 00:44:30,480 I agree with Kunal. 878 00:44:30,560 --> 00:44:33,280 I am not a good partner for you 879 00:44:33,400 --> 00:44:36,880 because my favourite concept in business is opportunity cost. 880 00:44:36,960 --> 00:44:39,760 I believe these Rs 3 crores of mine 881 00:44:39,840 --> 00:44:43,240 can help four or five founders 882 00:44:43,320 --> 00:44:46,920 whom I can help profoundly with my expertise, 883 00:44:47,000 --> 00:44:48,680 and who need it more. 884 00:44:48,800 --> 00:44:52,800 I am proud of you and wish you the best. But I am out. 885 00:44:53,120 --> 00:44:54,480 Thank you, Namita. 886 00:44:54,560 --> 00:44:56,600 There is a perception 887 00:44:56,680 --> 00:44:58,400 that Shark Tank is a place 888 00:44:58,480 --> 00:45:02,040 only for high-tech and new-generation startups. 889 00:45:04,040 --> 00:45:07,000 According to me, India's SME ecosystem 890 00:45:11,800 --> 00:45:15,240 ...like startups. Or it can be less but still good enough. 891 00:45:15,520 --> 00:45:17,760 You demonstrate that industry. 892 00:45:17,840 --> 00:45:20,960 I believe Shark Tank is for both startups 893 00:45:21,200 --> 00:45:23,480 and growing SMEs. 894 00:45:24,800 --> 00:45:26,080 I want to give you an offer. 895 00:45:30,040 --> 00:45:32,280 An equity investment of Rs 1 crore 896 00:45:33,080 --> 00:45:35,480 for the ownership of one percent. 897 00:45:36,440 --> 00:45:38,680 Rs 2 crores on the debt line 898 00:45:39,400 --> 00:45:43,040 on an interest of 10 per cent annually. 899 00:45:43,240 --> 00:45:45,960 But that is a debt line. So, you will pay 900 00:45:46,080 --> 00:45:48,240 after you draw down. 901 00:45:48,400 --> 00:45:49,920 It will be for a tenure of three years. 902 00:45:57,360 --> 00:45:59,880 I believe it will solve your problem 903 00:46:00,000 --> 00:46:02,880 as your business will grow on the private side. 904 00:46:03,320 --> 00:46:06,680 It will benefit us as we will get a good strategic partner 905 00:46:06,920 --> 00:46:09,520 who can scale this infrastructure. 906 00:46:11,920 --> 00:46:14,560 Congratulations, Ram, Jagrut 907 00:46:14,680 --> 00:46:17,600 and Mr Shantilal. You've got a great offer. 908 00:46:17,800 --> 00:46:20,720 I think raising an investment in this 909 00:46:20,840 --> 00:46:23,040 would be risky. 910 00:46:23,880 --> 00:46:25,480 All my calculations 911 00:46:25,560 --> 00:46:28,640 of the Rs 35 crore deposit and Rs 60 crore receivables 912 00:46:28,720 --> 00:46:32,200 will be the capital employed 913 00:46:32,320 --> 00:46:34,720 in this business at any given time. 914 00:46:34,800 --> 00:46:37,400 Your profit is around. Rs 6 crores to Rs 7 crores. 915 00:46:37,480 --> 00:46:40,920 This means that this company has 916 00:46:41,360 --> 00:46:43,560 a six to eight per cent ROCE. 917 00:46:44,200 --> 00:46:48,400 The companies we generally invest in 918 00:46:48,520 --> 00:46:49,800 as angel investors 919 00:46:49,920 --> 00:46:53,080 give us way more returns on the capital employed. 920 00:46:53,160 --> 00:46:55,240 It is usually above 15 per cent to 16 per cent. 921 00:46:55,560 --> 00:46:58,080 So, I cannot join you today. 922 00:46:58,160 --> 00:47:00,680 But I wish you the best. Keep up the great work. 923 00:47:00,800 --> 00:47:01,520 Thank you, Vineeta. 924 00:47:01,600 --> 00:47:03,480 I want to congratulate you. 925 00:47:03,600 --> 00:47:05,840 I salute you wholeheartedly, Mr Shantilal. 926 00:47:06,120 --> 00:47:09,640 - Thank you. - You remind me of my father. 927 00:47:09,720 --> 00:47:12,400 I'll tell you why. When he started working, 928 00:47:12,480 --> 00:47:13,920 his salary was Rs 100. 929 00:47:14,000 --> 00:47:16,800 He worked so hard 930 00:47:17,120 --> 00:47:19,560 that he saved enough for seven generations. 931 00:47:19,800 --> 00:47:21,400 You've done the same thing. 932 00:47:21,840 --> 00:47:24,720 You've safeguarded the future of seven of your generations. 933 00:47:26,400 --> 00:47:28,200 Congratulations on that. 934 00:47:28,280 --> 00:47:30,160 But the praises stop here. 935 00:47:31,080 --> 00:47:33,680 Mr Ram, you're putting forth tall claims. 936 00:47:33,760 --> 00:47:35,280 You want to make it into an IPO. 937 00:47:35,440 --> 00:47:37,200 This is not how you start your company's IPO. 938 00:47:38,360 --> 00:47:39,840 So, what if the work is noble? 939 00:47:40,600 --> 00:47:42,000 Your numbers should match. 940 00:47:42,760 --> 00:47:46,320 You cannot answer me regarding any numbers. 941 00:47:47,360 --> 00:47:49,000 None of your numbers match. 942 00:47:49,160 --> 00:47:53,080 You're still thinking about the tax. 943 00:47:53,160 --> 00:47:56,120 Your receivables aren't matching. 944 00:47:56,360 --> 00:47:58,920 You told us about a security deposit of Rs 35 crores. 945 00:47:59,000 --> 00:48:00,400 Then, what do you need funding for? 946 00:48:00,680 --> 00:48:04,000 You can get whatever you want against those Rs 35 crores. 947 00:48:04,280 --> 00:48:05,680 That has become your asset. 948 00:48:05,840 --> 00:48:09,680 If you genuinely want funds 949 00:48:10,080 --> 00:48:11,480 and start an IPO, 950 00:48:11,760 --> 00:48:15,360 Mr Shantilal, you've handled a lot of work. Pinch their ears 951 00:48:15,640 --> 00:48:19,680 and fix the books. This company can start an IPO. 952 00:48:19,920 --> 00:48:22,640 But it's only possible if you do it systematically. 953 00:48:22,720 --> 00:48:26,800 It looks like you're here to show your credentials. It's not bad. 954 00:48:27,480 --> 00:48:31,640 But I am out because your numbers are beyond my understanding. 955 00:48:31,760 --> 00:48:34,200 Perhaps you don't get it, either. All the best. 956 00:48:36,520 --> 00:48:40,560 Do you want to consider it, or are you ready to accept the offer? 957 00:48:41,960 --> 00:48:44,000 Thank you so much for the offer, Ritesh. 958 00:48:44,160 --> 00:48:46,880 We accept what you said 959 00:48:46,960 --> 00:48:49,760 regarding debt. 960 00:48:49,840 --> 00:48:51,440 But as for equity, 961 00:48:51,520 --> 00:48:54,840 even if our valuation might not be Rs 300 crores, 962 00:48:54,960 --> 00:48:57,840 it will be Rs 250 crores this year. 963 00:48:57,920 --> 00:49:01,080 So, on a valuation of Rs 200 crores, 964 00:49:01,160 --> 00:49:03,560 if you accept it, 965 00:49:03,640 --> 00:49:06,240 we can go for Rs 1 crore for 0.5 per cent equity. 966 00:49:14,600 --> 00:49:16,320 or any infrastructure company, 967 00:49:16,440 --> 00:49:18,160 and so is a dip. 968 00:49:20,880 --> 00:49:22,920 I have a counteroffer for you. 969 00:49:23,120 --> 00:49:25,320 I will give you Rs 1 crore 970 00:49:26,600 --> 00:49:28,320 for 0.8 per cent. 971 00:49:28,400 --> 00:49:31,200 In addition, when you draw down the loan, 972 00:49:31,280 --> 00:49:33,720 I will give you Rs 2 crores at 10 per cent for three years. 973 00:49:42,400 --> 00:49:43,960 What do you think? Shall we? 974 00:49:44,400 --> 00:49:46,000 Okay, Ritesh. The deal is final. 975 00:49:46,080 --> 00:49:47,320 All right! Congratulations! 976 00:49:54,960 --> 00:49:56,360 Thank you. 977 00:49:57,400 --> 00:50:00,520 The numbers didn't reconcile for me. 978 00:50:00,600 --> 00:50:03,080 The answers were beating around the bush. 979 00:50:03,200 --> 00:50:04,520 All our figures 980 00:50:04,640 --> 00:50:07,160 have supporting documents. 981 00:50:07,240 --> 00:50:11,720 Our turnover last year was Rs 125 crores. 982 00:50:11,920 --> 00:50:15,520 The work in our hands is worth Rs 850 crores. 983 00:50:15,600 --> 00:50:18,720 It means we have work which is worth Rs 1000 crores. 984 00:50:18,800 --> 00:50:23,040 So, we will cross Rs 300 crores easily. 985 00:50:24,240 --> 00:50:26,600 Only Ritesh knows why he did it. 986 00:50:26,720 --> 00:50:29,880 It was an undoable deal, according to me. 987 00:50:29,960 --> 00:50:32,920 He is more keen on spending money 988 00:50:33,080 --> 00:50:34,240 than we are. 989 00:50:34,320 --> 00:50:38,200 How can I be unhappy about 990 00:50:38,280 --> 00:50:40,160 the most profitable deal? 991 00:50:40,240 --> 00:50:41,520 I am delighted about it. 992 00:50:41,600 --> 00:50:43,880 I would love to work with the founders. 993 00:50:43,960 --> 00:50:45,080 Thank you. 994 00:50:52,040 --> 00:50:54,200 - Savani family, namaste! - Namaste! 995 00:50:57,480 --> 00:50:58,080 Thank you. 996 00:50:58,160 --> 00:50:59,520 - How do you feel? - Great! 997 00:50:59,760 --> 00:51:01,520 - Are you happy? - Yes. 998 00:51:01,600 --> 00:51:03,760 - Did you get what you wanted? - Yes. - Certainly. 999 00:51:03,840 --> 00:51:05,960 Sir, we all saw your pitch. 1000 00:51:06,040 --> 00:51:09,720 We all were rooting for you to get it. 1001 00:51:09,840 --> 00:51:11,480 There are many ups and downs. 1002 00:51:11,560 --> 00:51:13,760 But you have a fan in all of us. 1003 00:51:13,840 --> 00:51:16,920 What you're doing is very inspiring. 1004 00:51:17,000 --> 00:51:19,200 You are restoring, saving 1005 00:51:19,320 --> 00:51:22,080 and preserving our culture. We were happy to see that. 1006 00:51:22,200 --> 00:51:24,320 You are conserving history. 1007 00:51:24,400 --> 00:51:26,880 We want your bond to remain as is. 1008 00:51:26,960 --> 00:51:29,040 So, I've ordered a few things from Swiggy Instamart 1009 00:51:29,120 --> 00:51:32,960 - so you can bond over them. They arrived in ten minutes. - Wow!' 1010 00:51:33,040 --> 00:51:35,720 Thank you. These are menial things that I do with my family. 1011 00:51:35,800 --> 00:51:37,480 - There are some playing cards. - Okay. 1012 00:51:37,560 --> 00:51:40,200 There are many snacks here because we are foodies. 1013 00:51:40,360 --> 00:51:42,640 I hope you use this. 1014 00:51:42,720 --> 00:51:43,480 Thank you. 1015 00:51:43,600 --> 00:51:46,160 - Thank you. - Thank you, sir. What you're doing is excellent. 1016 00:51:46,240 --> 00:51:48,280 I hope 1017 00:51:48,360 --> 00:51:49,920 you're present in all the states 1018 00:51:50,000 --> 00:51:52,800 and restore more than 1019 00:51:52,920 --> 00:51:55,800 - 1000 properties and monuments. Thank you so much. - Thank you. 1020 00:51:55,880 --> 00:51:58,920 If you want to gift something to someone, 1021 00:51:59,000 --> 00:52:00,720 Swiggy Instamart is here. You can get everything there. 1022 00:52:00,760 --> 00:52:02,880 We got it in ten minutes. Order now. 1023 00:52:03,160 --> 00:52:05,160 What is the shark inside you saying? 1024 00:52:05,240 --> 00:52:07,720 Which pitcher should get a deal, and who should not. Right? 1025 00:52:07,800 --> 00:52:09,120 Do one thing. Hear it out. 1026 00:52:09,200 --> 00:52:12,920 A contest is ongoing on the Lenskart app and lenskart.com. 1027 00:52:31,560 --> 00:52:34,200 [theme music playing] 1028 00:52:54,120 --> 00:52:56,600 Sharks, high net-worth individuals 1029 00:52:56,680 --> 00:52:58,520 and aspirational middle class 1030 00:52:58,600 --> 00:53:01,960 are investing in luxury handbags and shoes in India. 1031 00:53:02,680 --> 00:53:05,840 That is why India's luxury footwear 1032 00:53:06,040 --> 00:53:07,480 and leather goods market 1033 00:53:20,440 --> 00:53:23,200 Take, for instance, my luxury bag. 1034 00:53:23,320 --> 00:53:25,240 I saved for months 1035 00:53:25,320 --> 00:53:27,800 to buy my favourite limited edition bag. 1036 00:53:27,920 --> 00:53:30,760 Its handle broke at a party. 1037 00:53:30,840 --> 00:53:33,840 How can I fix it? There is no specialised service. 1038 00:53:34,040 --> 00:53:37,440 More importantly, people lack the expertise to fix it. 1039 00:53:37,640 --> 00:53:40,480 That is why we started Sneakinn. 1040 00:53:50,800 --> 00:53:53,040 We provide cleaning and restoration services 1041 00:53:53,160 --> 00:53:54,600 for premium shoes, 1042 00:53:54,680 --> 00:53:57,080 bags, belts, wallets, 1043 00:53:57,200 --> 00:54:00,280 leather jackets and luggage. 1044 00:54:00,920 --> 00:54:02,360 We match the exact colour, 1045 00:54:02,480 --> 00:54:05,000 stitching, material, and fabric. 1046 00:54:05,960 --> 00:54:09,440 Sharks, we extend the lifespan of your luxury products 1047 00:54:09,520 --> 00:54:11,800 by restoring them to their past glory. 1048 00:54:11,920 --> 00:54:16,680 So now, there's no need to fear using your favourite luxury items. 1049 00:54:17,840 --> 00:54:20,000 Sharks, you'll be pleased to know 1050 00:54:20,120 --> 00:54:24,320 we've served over 20,000 customers so far. 1051 00:54:25,000 --> 00:54:28,480 We have three stores in Delhi and Mumbai 1052 00:54:28,640 --> 00:54:30,320 and a centralised workshop. 1053 00:54:38,360 --> 00:54:41,600 but rely on Sneakinn for their service and maintenance. 1054 00:54:41,680 --> 00:54:43,440 That's why we want to expand 1055 00:54:43,520 --> 00:54:45,760 our stores in every major city. 1056 00:54:45,840 --> 00:54:47,480 For this, our ask is 1057 00:54:47,640 --> 00:54:50,000 ninety lakhs for three per cent equity in our business. 1058 00:54:58,560 --> 00:55:00,280 - Sahil and Arunima. - Yes. 1059 00:55:00,360 --> 00:55:02,960 Welcome to Shark Tank Season 4. 1060 00:55:03,080 --> 00:55:04,080 - Thank you. - Thank you so much. 1061 00:55:04,120 --> 00:55:07,400 First, tell us how you got into this business. 1062 00:55:07,480 --> 00:55:10,760 Sahil and I have been dating since school, 1063 00:55:10,840 --> 00:55:12,440 and last year we got married. 1064 00:55:12,520 --> 00:55:13,400 - Congratulations. - Wow! 1065 00:55:13,480 --> 00:55:16,120 - Congratulations. - We started this business before marriage. 1066 00:55:16,560 --> 00:55:18,480 We grew up in Gurgaon. 1067 00:55:18,600 --> 00:55:21,120 Sahil always had a knack for business. 1068 00:55:33,560 --> 00:55:36,920 When I was in the UK, I was heavily influenced by sneaker culture. 1069 00:55:37,000 --> 00:55:39,680 When I returned to India, I noticed my shoes, like my Air Force 1. 1070 00:55:39,760 --> 00:55:41,440 - I'm wearing Air Force 1 today, too. - I can see that. 1071 00:55:41,480 --> 00:55:44,360 So I gave them to a couple of dry cleaners there to clean. 1072 00:55:44,440 --> 00:55:47,760 They applied white shoe polish on them. 1073 00:55:47,840 --> 00:55:50,640 When I complained, no one answered my calls. 1074 00:55:50,720 --> 00:55:54,720 That's when I realised there were no service catering to people in India 1075 00:55:54,840 --> 00:55:57,120 buying sneakers worth tens of thousands. 1076 00:55:57,200 --> 00:55:59,920 We thought we could monetise this 1077 00:56:00,040 --> 00:56:02,720 and add value to these customers. 1078 00:56:15,520 --> 00:56:17,120 due to humidity and other factors. 1079 00:56:17,240 --> 00:56:21,040 I sent them to a couple of places, but they couldn't fix it. 1080 00:56:21,240 --> 00:56:23,240 Do you handle such issues too? 1081 00:56:23,320 --> 00:56:25,400 Bags that turn yellow 1082 00:56:25,520 --> 00:56:27,720 - are mostly patent leather ones. - Correct! 1083 00:56:27,800 --> 00:56:30,040 Patent leather 1084 00:56:30,120 --> 00:56:33,880 tends to oxidise over time. Reverting it is extremely difficult. 1085 00:56:34,080 --> 00:56:36,480 We also offer a colour change service 1086 00:56:45,320 --> 00:56:47,000 - it's possible. If the leather is replaced, it's possible. 1087 00:56:47,040 --> 00:56:49,800 But for shoes with yellowed rubber midsoles, 1088 00:56:49,880 --> 00:56:51,440 we can make them white again. 1089 00:56:51,520 --> 00:56:52,520 Got it! 1090 00:56:54,160 --> 00:56:55,880 [suspenseful music] 1091 00:56:56,720 --> 00:56:57,760 Thank you. 1092 00:56:58,280 --> 00:56:59,760 We took pictures of 1093 00:56:59,840 --> 00:57:02,000 the products you have 1094 00:57:02,160 --> 00:57:03,960 before cleaning and then brought them back 1095 00:57:04,040 --> 00:57:07,400 so you can see the transformation. 1096 00:57:10,160 --> 00:57:12,040 Oh wow! This is as good as new. 1097 00:57:12,560 --> 00:57:14,240 - Well done! - Show me. Wow! 1098 00:57:15,320 --> 00:57:17,120 [lively music] 1099 00:57:19,280 --> 00:57:23,000 A dog had bitten one of our customers' shoes, 1100 00:57:23,080 --> 00:57:26,240 and we restored it. Here's the picture. 1101 00:57:26,800 --> 00:57:31,400 - Wow! - People go to great lengths to repair shoes in poor condition. 1102 00:57:31,480 --> 00:57:32,400 Yes! 1103 00:57:32,520 --> 00:57:35,080 Earlier, they had no options. 1104 00:57:35,200 --> 00:57:37,680 They had to throw away good-quality shoes. 1105 00:57:37,840 --> 00:57:41,560 Now, we bring them back to life. 1106 00:57:41,800 --> 00:57:44,480 A client spilled kohl on their shoe at a party. 1107 00:57:45,480 --> 00:57:47,040 How did you fix it? 1108 00:57:47,120 --> 00:57:49,280 Sir, we replaced that panel. 1109 00:57:49,400 --> 00:57:50,640 Wow! 1110 00:57:51,680 --> 00:57:54,640 - We matched the colour, material and stitching exactly. - Everything? 1111 00:57:54,720 --> 00:57:55,320 - Everything. - Yes. 1112 00:57:55,440 --> 00:57:58,200 Did you use original Valentino leather or your own? 1113 00:57:58,280 --> 00:57:59,720 Valentino doesn't sell leather in the market. 1114 00:57:59,720 --> 00:58:02,280 Then why aren't you making bags? 1115 00:58:03,040 --> 00:58:04,640 [laughs] 1116 00:58:06,040 --> 00:58:09,080 I often watch revolutionary, 1117 00:58:09,160 --> 00:58:11,440 satisfying videos on YouTube. 1118 00:58:11,520 --> 00:58:12,200 Yes! 1119 00:58:12,280 --> 00:58:15,800 Sir, we also post many transformation videos on Instagram. 1120 00:58:17,640 --> 00:58:19,200 Here's our Instagram page. 1121 00:58:19,280 --> 00:58:20,360 How many followers do you have? 1122 00:58:20,400 --> 00:58:21,960 Ninety-eight thousand seven hundred. 1123 00:58:23,880 --> 00:58:26,440 This biker's shoe had bloodstains. 1124 00:58:26,800 --> 00:58:28,240 Sorry to see this. 1125 00:58:29,560 --> 00:58:31,520 [upbeat music] 1126 00:58:36,240 --> 00:58:37,480 Show me a bag. 1127 00:58:40,240 --> 00:58:42,240 [upbeat music] 1128 00:58:42,920 --> 00:58:44,440 What's this? Recolouring? 1129 00:58:44,520 --> 00:58:48,480 Many people get bored with their bags and want to change the colour. 1130 00:58:49,240 --> 00:58:51,000 How much does this service cost? 1131 00:59:00,080 --> 00:59:02,800 They provide cleaning and repair services. 1132 00:59:02,880 --> 00:59:05,160 But not the specialised services we offer... 1133 00:59:05,240 --> 00:59:07,960 For example, Gucci's Ace shoes 1134 00:59:08,040 --> 00:59:10,240 have snakeskin leather at the back. 1135 00:59:10,320 --> 00:59:14,280 If that gets damaged, and you go to Pressto asking them to fix it, 1136 00:59:14,360 --> 00:59:17,440 they'll say they can't do it or replace it with plain leather. 1137 00:59:17,600 --> 00:59:19,960 We go the extra mile in offering solutions. 1138 00:59:20,160 --> 00:59:23,120 We have contacts with Tanneries, and we replace it 1139 00:59:23,240 --> 00:59:24,840 - with exact matching leather. - Exactly! 1140 00:59:31,320 --> 00:59:33,720 one dissatisfied customer 1141 00:59:33,800 --> 00:59:37,320 - can tarnish your reputation on social media. - Absolutely. 1142 00:59:37,400 --> 00:59:39,440 How do you handle that? 1143 00:59:40,640 --> 00:59:43,600 There's often a gap between expectations and results. 1144 00:59:43,680 --> 00:59:46,120 If the product is delivered 1145 00:59:46,200 --> 00:59:48,600 and we see potential 1146 00:59:48,720 --> 00:59:49,960 to improve, 1147 00:59:50,040 --> 00:59:53,000 we collect it back and redo it free of cost. 1148 00:59:53,920 --> 00:59:57,720 Do you have any idea of the market size for luxury care in India? 1149 00:59:57,800 --> 01:00:00,120 The luxury leather goods 1150 01:00:00,240 --> 01:00:01,560 and footwear market 1151 01:00:01,680 --> 01:00:04,960 is worth 20,000 crores rupees. If we capture even one per cent, 1152 01:00:05,040 --> 01:00:07,360 that's a 200 crore market. 1153 01:00:12,720 --> 01:00:15,840 like Pressto and Guardini are competitors. 1154 01:00:15,960 --> 01:00:18,080 The others are niche, smaller players. 1155 01:00:18,160 --> 01:00:22,000 The difference is that we work with an aggressive vision. 1156 01:00:22,080 --> 01:00:25,840 No one has established a multi-city presence or multi-city operations. 1157 01:00:25,920 --> 01:00:28,800 Are you the largest among niche players? 1158 01:00:28,920 --> 01:00:31,800 Yes, and our brand positioning is unique. 1159 01:00:31,880 --> 01:00:34,160 We strike the right balance 1160 01:00:34,240 --> 01:00:37,760 between the sneaker hype market and the luxury market. 1161 01:00:38,640 --> 01:00:39,920 Tell us about your pricing. 1162 01:00:40,000 --> 01:00:41,600 How to charge your services? 1163 01:00:41,680 --> 01:00:44,920 Our cleaning charges are fixed 1164 01:00:45,600 --> 01:00:47,000 at 900 rupees plus GST. 1165 01:00:47,200 --> 01:00:49,040 For bags, it depends on the size. 1166 01:00:49,120 --> 01:00:51,800 Let's go back to the photos 1167 01:00:51,960 --> 01:00:54,640 and discuss the pricing for each case. 1168 01:00:55,280 --> 01:00:56,360 How much for this one? 1169 01:00:56,520 --> 01:01:00,560 - Around 15,000 to 18,000 rupees. - Oh! 1170 01:01:01,720 --> 01:01:04,920 - And how much is this shoe worth? - It's easily over 1 lakh rupees. 1171 01:01:05,040 --> 01:01:08,800 So, for 15 per cent of the cost, the shoe becomes wearable again. 1172 01:01:08,880 --> 01:01:11,280 That makes financial sense. 1173 01:01:11,400 --> 01:01:13,920 How much time did it take to repair this? 1174 01:01:14,000 --> 01:01:17,480 It took 10 to 15 working days. 1175 01:01:17,600 --> 01:01:18,920 Wow! 1176 01:01:19,680 --> 01:01:20,880 How much did you charge for this? 1177 01:01:20,920 --> 01:01:24,640 Around 20,000 to 25,000 rupees. 1178 01:01:24,760 --> 01:01:27,480 Because we had to redo the inner lining, bag stitching, 1179 01:01:27,560 --> 01:01:30,040 edge colouring, and everything else. 1180 01:01:30,240 --> 01:01:33,360 But this bag costs at least 2.5 lakh rupees minimum. 1181 01:01:35,200 --> 01:01:37,040 What about those Louis Vuitton slippers? 1182 01:01:37,120 --> 01:01:38,880 It's around 12,000 to 15,000 rupees. 1183 01:01:39,120 --> 01:01:40,360 And their original cost? 1184 01:01:40,840 --> 01:01:42,520 Seventy 70,000 to 80,000 rupees. 1185 01:01:42,840 --> 01:01:44,960 So, roughly 10 per cent of the product price. 1186 01:01:45,040 --> 01:01:46,200 These are heavy restorations. 1187 01:01:46,240 --> 01:01:47,680 It's not 10, 1188 01:01:47,760 --> 01:01:49,880 - it's 15 to 20 per cent. - But it starts at 10. 1189 01:01:49,960 --> 01:01:50,640 Right. 1190 01:01:50,720 --> 01:01:54,560 What percentage of your services are for 900 to 1,250 cleanings 1191 01:01:54,640 --> 01:01:57,560 compared to specialised services costing 10,000 to 12,000? 1192 01:01:57,640 --> 01:02:00,960 Forty per cent of our revenue comes from cleaning. 1193 01:02:01,440 --> 01:02:05,600 Twenty per cent from colour restoration services. 1194 01:02:06,480 --> 01:02:07,680 Colouring service? 1195 01:02:07,760 --> 01:02:08,760 Yes! 1196 01:02:09,000 --> 01:02:11,600 Twenty-six per cent from repair jobs. 1197 01:02:11,760 --> 01:02:14,080 Four per cent from protection services. 1198 01:02:14,160 --> 01:02:16,120 Seven per cent from delivery, 1199 01:02:16,200 --> 01:02:17,440 and three per cent from retail products. 1200 01:02:17,440 --> 01:02:19,880 Do you always use custom pricing? 1201 01:02:19,960 --> 01:02:21,400 - For repairs. Yes. - Right? 1202 01:02:21,560 --> 01:02:24,080 Is there no way to use technology to standardise it? 1203 01:02:24,240 --> 01:02:27,320 Part of the reason we're here is to get funds. 1204 01:02:27,440 --> 01:02:29,800 We want to develop and 1205 01:02:29,920 --> 01:02:31,760 digitise our technology. 1206 01:02:31,840 --> 01:02:34,840 - The magic will happen when customers open the app, - Exactly! 1207 01:02:34,920 --> 01:02:35,920 - upload a photo, - Yes. 1208 01:02:36,000 --> 01:02:38,440 instantly see the new version. 1209 01:02:38,600 --> 01:02:40,520 You showed the new image through image generation 1210 01:02:40,560 --> 01:02:42,400 - and displayed the price below it. - Yes, sir. 1211 01:02:42,440 --> 01:02:43,880 That's the future, definitely. 1212 01:02:44,320 --> 01:02:45,320 Thank you. 1213 01:02:45,600 --> 01:02:48,680 Sahil, what's your margin for these services? 1214 01:02:48,760 --> 01:02:50,120 Gross margin 43 per cent. 1215 01:02:51,120 --> 01:02:55,520 What's your channel distribution, online vs offline? 1216 01:02:55,600 --> 01:02:59,120 Fifteen per cent of revenue comes from walk-ins at our stores. 1217 01:02:59,360 --> 01:03:00,040 Wow! 1218 01:03:00,160 --> 01:03:02,800 Eighty per cent from pickups. 1219 01:03:03,160 --> 01:03:04,240 Okay. 1220 01:03:04,440 --> 01:03:08,120 And five per cent from courier services. 1221 01:03:08,440 --> 01:03:10,280 Then why do you need physical stores? 1222 01:03:11,760 --> 01:03:14,440 If you use the service centres in every city 1223 01:03:14,560 --> 01:03:16,320 - and do only the pick-up and delivery - That's right. 1224 01:03:16,360 --> 01:03:17,640 - because that's where your business is coming from. 1225 01:03:17,680 --> 01:03:19,040 You'll save on the overheads. 1226 01:03:19,120 --> 01:03:22,080 When we thought about starting the operations, 1227 01:03:22,160 --> 01:03:23,320 everyone told us 1228 01:03:23,400 --> 01:03:26,080 'Take a dark store, what difference will it make, no one will come.' 1229 01:03:27,200 --> 01:03:28,920 But as we are seeing in Mumbai, 1230 01:03:29,040 --> 01:03:30,880 50% of our customers come to the store. 1231 01:03:37,520 --> 01:03:39,800 What has been your revenue for the last three years? 1232 01:03:39,880 --> 01:03:41,880 We started in 2020. 1233 01:03:42,000 --> 01:03:44,440 At that time it was 19.8 lakhs 1234 01:03:44,800 --> 01:03:46,280 during 2020-21 FY. 1235 01:03:46,400 --> 01:03:49,800 - Okay. - In 2021-22 it was 1.5 CR. 1236 01:03:50,320 --> 01:03:53,440 - Okay. - In 2022-23 it was 3.8 CR. 1237 01:03:54,080 --> 01:03:56,520 2023-24 it was 5.9 CR. 1238 01:03:56,600 --> 01:03:59,800 - Wow. - Right now we are on the track of doing 7.3 CR. 1239 01:03:59,880 --> 01:04:01,960 Out of which we've already done 4.6 CR. 1240 01:04:02,080 --> 01:04:03,200 Very good. 1241 01:04:03,600 --> 01:04:07,000 - This shows how much designer wear Indians buy. - Amazing. - Exactly. 1242 01:04:07,400 --> 01:04:09,120 Will you tell us your bottom line too. 1243 01:04:09,200 --> 01:04:12,240 This year our EBITDA is going to be 15.5%. 1244 01:04:12,400 --> 01:04:13,760 Okay. What about last year? 1245 01:04:13,880 --> 01:04:17,640 Last year our EBITDA was 7.3%. 1246 01:04:17,720 --> 01:04:19,080 And the year before that? 1247 01:04:19,720 --> 01:04:20,880 7.6%. 1248 01:04:22,000 --> 01:04:24,400 If you look at the market only in Delhi, 1249 01:04:24,480 --> 01:04:27,600 according to you, how many stores 1250 01:04:27,880 --> 01:04:31,720 and revenue can you generate, including pick-up and drop? Only in Delhi. 1251 01:04:31,800 --> 01:04:35,560 The pick-up, and drop revenue of Delhi can be moved from 40 lakhs to 50 lakhs. 1252 01:04:35,640 --> 01:04:38,640 Apart from that in Delhi-NCR, we are in Gurgaon, 1253 01:04:38,760 --> 01:04:41,920 Noida, West-Delhi and Faridabad. 1254 01:04:42,000 --> 01:04:45,280 So, you're saying, you can make around one crore revenue in Delhi alone. 1255 01:04:45,400 --> 01:04:46,400 That's right. 1256 01:04:47,880 --> 01:04:49,680 Why did you enter into making products? 1257 01:04:49,760 --> 01:04:52,800 It brings in only three per cent revenue. I can see many SKUs. 1258 01:04:52,880 --> 01:04:55,440 These are too many commodities. We have another company Sneakare. 1259 01:04:55,480 --> 01:04:57,080 - Right. - They make the same products. 1260 01:04:57,160 --> 01:04:58,320 It's a waste of time. 1261 01:04:59,560 --> 01:05:02,400 - We've not spent on marketing it yet, - Marketing... 1262 01:05:02,480 --> 01:05:03,200 - we've just developed it. - But, why? 1263 01:05:03,320 --> 01:05:04,720 We saw that, every time 1264 01:05:04,800 --> 01:05:08,200 our videos go viral and people see it, 1265 01:05:08,320 --> 01:05:11,440 they often ask us, 'Do you have cleaning kits?' 1266 01:05:11,520 --> 01:05:14,800 Because not everyone in Tier I, Tier II, and Tier III cities 1267 01:05:14,920 --> 01:05:17,480 can purchase our service. 1268 01:05:17,560 --> 01:05:19,840 Come on, I'll give you the best idea. 1269 01:05:19,920 --> 01:05:21,800 Whoever is doing this already, 1270 01:05:21,880 --> 01:05:24,040 asking them to keep the stock with you, after approval. 1271 01:05:24,120 --> 01:05:26,040 Whatever is sold, you cut your cost and give him. 1272 01:05:26,120 --> 01:05:28,280 You have no money to invest, you will make your margin. 1273 01:05:28,360 --> 01:05:30,400 It is an unnecessary distraction, otherwise. 1274 01:05:32,320 --> 01:05:34,480 It's great that you have reached eight crores. 1275 01:05:34,520 --> 01:05:35,800 It's not a small amount. 1276 01:05:37,840 --> 01:05:41,800 It's aspirational. Indians are buying more designer wear. 1277 01:05:41,880 --> 01:05:43,240 But how big will it grow? 1278 01:05:44,520 --> 01:05:46,560 100 crores at the most. 1279 01:05:47,320 --> 01:05:51,400 And because I don't see the visibility on the scaling, 1280 01:05:58,120 --> 01:05:58,880 Okay. 1281 01:05:59,000 --> 01:06:02,040 Sahil and Arunima. I think the market is very small. 1282 01:06:03,000 --> 01:06:07,080 If you're saying that in a huge and sprawling location as Delhi-NCR 1283 01:06:12,400 --> 01:06:16,800 if you multiply it with five, six or seven such geographies... 1284 01:06:16,880 --> 01:06:19,800 If you combine Mumbai, Bangalore, Hyderabad, Chennai, 1285 01:06:21,920 --> 01:06:23,960 all put together you'll have 70 or 80 crores 1286 01:06:24,080 --> 01:06:26,400 or maybe a 100 to 150 crores market. 1287 01:06:26,480 --> 01:06:29,400 But I don't think you need venture capital in this. 1288 01:06:30,800 --> 01:06:33,640 You can grow organically and own it 100%. 1289 01:06:33,760 --> 01:06:36,880 You will have 100% profits, which you can pocket. 1290 01:06:37,120 --> 01:06:40,240 I'm out today, but I wish you the very best. 1291 01:06:40,320 --> 01:06:41,360 Thank you. 1292 01:06:49,360 --> 01:06:51,200 What happened in the business of diagnostics? 1293 01:06:51,320 --> 01:06:54,960 First, in every diagnostic store, people did testing. 1294 01:06:55,040 --> 01:06:57,680 Later centralised testing started 1295 01:06:57,840 --> 01:06:59,400 and there were pick-ups and drops in various cities. 1296 01:06:59,440 --> 01:07:00,800 Pick-up and drop points. 1297 01:07:00,800 --> 01:07:03,560 That saw a disproportionate growth in their profit margins. 1298 01:07:03,680 --> 01:07:07,000 I think your business model in the luxury segment is very smart. 1299 01:07:07,120 --> 01:07:08,120 I also liked that. 1300 01:07:08,160 --> 01:07:10,760 You will be the laboratory of sick shoes. 1301 01:07:11,320 --> 01:07:13,080 We have a few 1302 01:07:13,240 --> 01:07:17,240 aged and almost sick Sharks. We will bring them with us. 1303 01:07:17,320 --> 01:07:19,040 [laughing] 1304 01:07:19,120 --> 01:07:23,200 But for now, we are talking of the young industries. 1305 01:07:23,280 --> 01:07:26,160 I'm glad you at least understood who is your dad. 1306 01:07:26,800 --> 01:07:28,520 [laughing] 1307 01:07:30,400 --> 01:07:33,200 Let's talk about the offer. We are here for the entrepreneurs. 1308 01:07:34,360 --> 01:07:35,640 I have an offer for you. 1309 01:07:37,760 --> 01:07:40,880 I will offer 45 lakh rupees in equity 1310 01:07:41,680 --> 01:07:42,960 for five per cent. 1311 01:07:43,160 --> 01:07:45,280 [music playing] 1312 01:07:45,360 --> 01:07:48,640 Along with that, I'll offer you 45 lakhs debt. 1313 01:07:49,240 --> 01:07:52,320 With nine per cent interest for three years. 1314 01:08:04,040 --> 01:08:07,400 They are the people who possess multiple luxury products. 1315 01:08:07,520 --> 01:08:11,320 - This is only for the elite class of HNIs. - That's right. 1316 01:08:11,400 --> 01:08:13,880 Which is why you will have this problem 1317 01:08:13,960 --> 01:08:18,160 of scaling it to 100 or 200 crores. 1318 01:08:20,280 --> 01:08:22,080 But Anupam and I will get on board 1319 01:08:24,800 --> 01:08:26,920 for 90 lakhs, which was your ask. 1320 01:08:27,800 --> 01:08:31,720 For 10%, of which Anupam and I will take five per cent each. 1321 01:08:31,960 --> 01:08:34,520 Plus a one per cent royalty 1322 01:08:38,000 --> 01:08:40,680 till we recoup 1323 01:08:40,840 --> 01:08:43,080 our investment. Okay? 1324 01:08:52,840 --> 01:08:56,280 Because the expansion that you're making now 1325 01:08:56,400 --> 01:08:59,160 is very dangerous, and we can help you out with that. 1326 01:09:01,640 --> 01:09:04,680 It is not just about executions or operations. Both of you are smart. 1327 01:09:04,840 --> 01:09:07,240 You will understand. And obviously, Vineeta has done 1328 01:09:07,320 --> 01:09:09,520 a lot of offline expansion. She knows about it. 1329 01:09:09,680 --> 01:09:11,480 But it's also about great ideas. 1330 01:09:13,160 --> 01:09:16,640 If we approach the luxury brands that are entering India, 1331 01:09:16,920 --> 01:09:18,200 and tell them that along 1332 01:09:26,800 --> 01:09:28,480 - And I know it's going to be hard to crack. - Yes. 1333 01:09:28,480 --> 01:09:31,680 But I know the head of Reliance Brands. We can sit and talk to them. 1334 01:09:32,080 --> 01:09:33,720 That can just... 1335 01:09:35,360 --> 01:09:36,720 - Do this to our process. - What an idea. 1336 01:09:36,720 --> 01:09:40,760 - Isn't it? For one year it will expand the market tremendously. 1337 01:09:41,040 --> 01:09:44,080 That's our offer. You know who can add value. 1338 01:09:44,600 --> 01:09:46,240 You have two offers. 1339 01:09:46,320 --> 01:09:48,520 One offer is from Vineeta and Anupam. 1340 01:09:48,600 --> 01:09:51,560 90 lakh rupees with 10% and one per cent royalty. 1341 01:09:51,640 --> 01:09:53,200 That is on zero valuation, right? 1342 01:09:53,320 --> 01:09:55,560 I know. Royalty is like zero valuation. 1343 01:09:55,640 --> 01:09:59,040 You can understand it anyway you like, but the value is unlimited. 1344 01:09:59,320 --> 01:10:03,280 - Yes, I mean, Anupam is usually against royalty deals. - Value unlimited. 1345 01:10:03,360 --> 01:10:04,080 Value is unlimited. 1346 01:10:04,200 --> 01:10:07,840 When we give royalty deals, it's as good as zero valuation. 1347 01:10:07,920 --> 01:10:11,600 And the second offer is 45 lakhs for five per cent 1348 01:10:11,720 --> 01:10:14,000 with 45 lakhs at 10% per annum. 1349 01:10:14,080 --> 01:10:17,920 Because I spoke about the loan for three years for the store's capital. 1350 01:10:18,000 --> 01:10:20,760 I also think that your business will scale quickly. 1351 01:10:21,000 --> 01:10:22,160 And I can help you with that. 1352 01:10:22,240 --> 01:10:24,440 And he has a 'SUNDAY' property in Jaipur 1353 01:10:24,560 --> 01:10:26,000 - where luxury... - And listen... 1354 01:10:26,080 --> 01:10:27,480 - He'll give you a free outlet there. - Your... 1355 01:10:27,480 --> 01:10:30,040 - We can do that. - You don't have a big margin in your business. 1356 01:10:30,080 --> 01:10:31,960 And you want to scale too. 1357 01:10:32,080 --> 01:10:33,720 What royalty will you give them? 1358 01:10:33,880 --> 01:10:36,000 It's very bad for your business to give royalty. 1359 01:10:36,080 --> 01:10:38,080 - Hello, I'm also there. - No, we will guide them. 1360 01:10:38,160 --> 01:10:40,920 We will guide them properly. Don't worry. 1361 01:10:41,320 --> 01:10:43,320 I have four other ideas. I'll tell you later. 1362 01:10:43,320 --> 01:10:44,360 You can discuss it and come back. 1363 01:10:45,760 --> 01:10:47,800 [music playing] 1364 01:10:49,160 --> 01:10:51,080 [phone ringing] 1365 01:10:51,760 --> 01:10:53,240 - Hello? - Hello. 1366 01:10:54,120 --> 01:10:56,320 We have two offers in hand. 1367 01:10:56,400 --> 01:11:00,240 Both the sharks have made a Rs. 9 crore valuation. 1368 01:11:00,320 --> 01:11:01,680 Namita, quiet! 1369 01:11:01,760 --> 01:11:03,760 I wouldn't have said anything if it was only you. 1370 01:11:03,880 --> 01:11:05,960 If Ritesh wins this deal, it'll be for the greater good 1371 01:11:06,000 --> 01:11:08,080 of this country, a win for entrepreneurship. 1372 01:11:19,440 --> 01:11:22,280 Whenever someone asks for a royalty deal, 1373 01:11:22,360 --> 01:11:25,800 that means the value of your business is zero to them. 1374 01:11:25,880 --> 01:11:27,760 - Please do keep that in mind. - Yeah. 1375 01:11:27,880 --> 01:11:29,880 Because they will get back all their money, 1376 01:11:29,960 --> 01:11:31,120 whether you succeed or not. 1377 01:11:31,240 --> 01:11:33,320 - No, that's not true. - All they care about is recovery. 1378 01:11:33,360 --> 01:11:34,680 - That's not entirely true. - You can counter it. 1379 01:11:34,720 --> 01:11:36,360 Tell us your counter offer. 1380 01:11:36,520 --> 01:11:37,840 Royalties are a no-no for us. 1381 01:11:37,880 --> 01:11:39,200 - Alright. Okay. - I'm sorry. We can't do it. 1382 01:11:39,200 --> 01:11:41,560 I respect you for that. Very good. 1383 01:11:41,640 --> 01:11:42,880 We believe 1384 01:11:42,960 --> 01:11:45,840 that the Rs. 9 crore valuation is too low for us. 1385 01:11:46,120 --> 01:11:49,440 Because we are about to make Rs. 7.3 crore this year 1386 01:11:49,560 --> 01:11:52,760 - and save Rs. one crore. - Okay. 1387 01:11:52,840 --> 01:11:55,760 We want to counter with a Rs. 18 crore valuation. 1388 01:11:55,880 --> 01:11:57,160 You have no issues with debt? 1389 01:12:03,520 --> 01:12:06,520 Rs. 90 lakh, 7 percent. Last and final offer. 1390 01:12:06,600 --> 01:12:07,240 No royalty? 1391 01:12:07,360 --> 01:12:09,480 - Only Anupam. - Only Anupam? 1392 01:12:09,560 --> 01:12:11,800 That's only me because Vineeta is out without royalty. 1393 01:12:15,160 --> 01:12:16,480 Yes or no, otherwise I'm out. 1394 01:12:19,520 --> 01:12:21,320 Ritesh, will you be giving us an offer too? 1395 01:12:21,440 --> 01:12:22,360 I will give you an offer. 1396 01:12:22,400 --> 01:12:24,200 You can maximise your valuation if you want. 1397 01:12:24,320 --> 01:12:25,800 I don't want to maximise the valuation, 1398 01:12:25,840 --> 01:12:27,840 but this is a chance of a lifetime. 1399 01:12:27,960 --> 01:12:30,040 So, we would like to hear the offer. 1400 01:12:30,160 --> 01:12:33,280 I can give you a maximum valuation of Rs. 15 crore. 1401 01:12:33,400 --> 01:12:36,520 Rs. 45 lakh at Rs. 15 crore valuation, 1402 01:12:36,840 --> 01:12:40,680 and Rs. 45 lakh at 10% per annum for 3 years. 1403 01:12:48,360 --> 01:12:51,720 I will give Rs. 90 lakh for 7%. 1404 01:12:51,840 --> 01:12:54,120 We are already stretching at a Rs. 18 crore valuation. 1405 01:12:54,200 --> 01:12:56,720 If you wish to go into debt, that's fine. 1406 01:12:56,960 --> 01:12:58,680 If you want to offer 1-2% to someone and deal 1407 01:12:58,720 --> 01:13:00,720 with whether they work or not, that's up to you. 1408 01:13:01,760 --> 01:13:04,160 I want this because I'll sit and work with you. 1409 01:13:04,240 --> 01:13:07,120 I've already given you three ideas right here and I have ten more. 1410 01:13:07,200 --> 01:13:08,440 Even I can give you ideas. 1411 01:13:08,560 --> 01:13:11,320 Will you match Ritesh's offer at Rs. 15 crore valuation? 1412 01:13:11,680 --> 01:13:14,000 [dramatic music] 1413 01:13:14,280 --> 01:13:17,080 If you don't want a deal with me, that's fine. I will back out. 1414 01:13:18,560 --> 01:13:21,360 We absolutely want a deal today. 1415 01:13:21,480 --> 01:13:23,680 - But with Anupam... - Alright. Now, 1416 01:13:23,800 --> 01:13:25,560 you can take up Anupam's offer. 1417 01:13:28,320 --> 01:13:29,240 Alright, let's finish this. 1418 01:13:29,320 --> 01:13:32,240 Let's both compromise. I can't go any further down from 6.5%. 1419 01:13:33,880 --> 01:13:34,960 6% and we have a deal. 1420 01:13:36,600 --> 01:13:38,000 - You said... - Just do it! 1421 01:13:38,120 --> 01:13:40,680 0.5% does not matter! Come on. 1422 01:13:43,840 --> 01:13:45,640 - Anupam, make it 6%. - It's your first round. 1423 01:13:45,680 --> 01:13:47,880 No! I want to see 1424 01:13:48,000 --> 01:13:51,040 their judgement. Whether they value that 0.5%. 1425 01:13:51,120 --> 01:13:53,600 You do not have any other offer on the table. 1426 01:13:54,520 --> 01:13:56,800 [tense music] 1427 01:13:59,120 --> 01:14:01,200 - Yes. We have a deal. - Anupam, let's have a deal. 1428 01:14:07,680 --> 01:14:09,000 I see the value he brings. 1429 01:14:09,080 --> 01:14:10,160 Thank you. 1430 01:14:13,920 --> 01:14:15,920 I can see my face reflecting in your shoes. 1431 01:14:17,120 --> 01:14:18,840 - We'll be in touch. - Yes. 1432 01:14:20,440 --> 01:14:22,040 Anupam is quite well-connected. 1433 01:14:22,120 --> 01:14:25,200 As you can see, he always looks so stylish. 1434 01:14:25,280 --> 01:14:27,400 He looks good. So, I'm sure 1435 01:14:27,480 --> 01:14:29,960 we can scale new heights for our business with him 1436 01:14:30,040 --> 01:14:32,240 through his connections and B2B links. 1437 01:14:32,320 --> 01:14:34,120 Good deal, Anupam. 1438 01:14:34,200 --> 01:14:36,440 Anupam, you've avenged Paradyes. 1439 01:14:36,520 --> 01:14:37,640 You ditched me and offered a deal. 1440 01:14:37,680 --> 01:14:39,360 No! I talked to you. 1441 01:14:39,440 --> 01:14:41,760 I'd asked you if I could do it alone. 1442 01:14:41,880 --> 01:14:45,040 - I'd asked. - Good deal. Anupam. Good deal! 1443 01:14:45,280 --> 01:14:47,680 Hello, Team Sneakinn. Welcome to the PokerBaazi zone, 1444 01:14:47,760 --> 01:14:48,880 where you hold the cards. 1445 01:14:48,960 --> 01:14:50,960 Before we do any type of conversation, 1446 01:14:53,560 --> 01:14:54,360 - Good to know that. - I'm so glad. 1447 01:14:54,440 --> 01:14:56,560 I've been your customer for 1448 01:14:56,640 --> 01:14:58,280 - around two years. - Wow. 1449 01:14:58,400 --> 01:15:01,200 And I have to say, I'm very happy to see you here today. 1450 01:15:01,320 --> 01:15:02,200 I'm so glad. 1451 01:15:02,280 --> 01:15:04,520 Poker and business have many similarities. 1452 01:15:28,720 --> 01:15:31,760 You have to tell me your top five focus areas. 1453 01:15:31,880 --> 01:15:35,120 What will be your royal flush and what will be the flush? 1454 01:15:35,200 --> 01:15:38,160 So, I think customer service will definitely be 1455 01:15:38,280 --> 01:15:39,480 - our royal flush. - That's quite an obvious one. 1456 01:15:39,520 --> 01:15:41,440 - Because we are a service business. - Right. 1457 01:15:41,520 --> 01:15:43,640 Then I would say quality assurance. 1458 01:15:43,760 --> 01:15:45,440 Team culture. Because for us, 1459 01:15:45,520 --> 01:15:47,080 we wouldn't be here without our team. 1460 01:15:47,400 --> 01:15:49,840 - Then operations. - Last? 1461 01:15:49,960 --> 01:15:51,280 - Marketing. - Marketing. 1462 01:15:51,400 --> 01:15:54,520 You have put team culture before operations and logistics 1463 01:15:54,640 --> 01:15:57,160 because your logistics are quite heavy. 1464 01:16:23,240 --> 01:16:26,000 If you too, are a master of skills and strategies, 1465 01:16:26,080 --> 01:16:29,040 then make your winning hand on PokerBaazi. Download the app now. 1466 01:16:52,080 --> 01:16:55,320 ...our pitchers ask for a valuable amount 1467 01:16:55,400 --> 01:16:57,600 and he asks double or triple. 1468 01:16:57,680 --> 01:16:59,880 I know you have deep pockets but what's going on? 1469 01:17:00,000 --> 01:17:03,400 I think founders underestimate 1470 01:17:03,520 --> 01:17:06,040 how much money their business needs. 1471 01:17:11,280 --> 01:17:13,640 their market, their traction, 1472 01:17:13,720 --> 01:17:15,800 their market, their traction, 1473 01:17:15,920 --> 01:17:18,240 then I think you should play to win. 1474 01:17:18,400 --> 01:17:19,840 You should go all in. 1475 01:17:19,920 --> 01:17:22,640 Absolutely. And also, you already have a big fanbase. 1476 01:17:22,760 --> 01:17:24,160 There are many questions for 1477 01:17:24,200 --> 01:17:26,560 the co-founder of Snapdeal and Titan Capital. 1478 01:17:26,640 --> 01:17:28,960 One such question is from Pritam, 1479 01:17:29,080 --> 01:17:30,880 a 25-year-old from Ratnagiri. 1480 01:17:45,120 --> 01:17:49,240 Look, in India, there's growth in every segment. 1481 01:17:49,880 --> 01:17:51,320 For instance, Sahiba, 1482 01:17:51,440 --> 01:17:53,560 there's explosion in luxury 1483 01:17:53,640 --> 01:17:54,960 - and aspirational segment. - Correct. Yeah. 1484 01:17:54,960 --> 01:17:56,960 Because the income levels are on the rise. 1485 01:18:30,440 --> 01:18:33,800 Choose your favourite shark and we'd be happy to address that.