1 00:00:19,960 --> 00:00:22,120 [theme music playing] 2 00:00:35,280 --> 00:00:36,920 [theme music playing] 3 00:00:43,320 --> 00:00:46,120 [theme music playing] 4 00:00:49,040 --> 00:00:53,280 'When I was growing up one thing was quite fascinating' 5 00:00:53,360 --> 00:00:55,560 'and that is my father's hard work,' 6 00:00:55,640 --> 00:00:59,840 'I saw how my family's lifestyle' 7 00:00:59,920 --> 00:01:01,760 'was improving.' 8 00:01:01,840 --> 00:01:07,440 'The harder you work, the more success you achieve.' 9 00:01:09,160 --> 00:01:10,760 [music playing] 10 00:01:12,400 --> 00:01:15,640 'In 2013, I started Veeba.' 11 00:01:15,760 --> 00:01:19,120 'What drives me is a company India can be proud of.' 12 00:01:19,240 --> 00:01:21,720 'I want to make' 13 00:01:21,800 --> 00:01:23,320 'the best sauces and seasoning' 14 00:01:23,400 --> 00:01:25,160 'in the world.' 15 00:01:25,280 --> 00:01:27,040 'I am a very proud Indian.' 16 00:01:28,840 --> 00:01:31,120 'I have one rule when it comes to food.' 17 00:01:31,200 --> 00:01:33,640 'It's a simple rule. I have two children.' 18 00:01:33,720 --> 00:01:36,400 'Veeba will not manufacture anything' 19 00:01:36,480 --> 00:01:38,640 'which I cannot give to Rajveer and Ranveer.' 20 00:01:40,760 --> 00:01:43,360 'I make products like ketchup, mayonnaise,' 21 00:01:43,440 --> 00:01:45,520 'chocolate sauces, that children consume.' 22 00:01:45,680 --> 00:01:47,840 'Today, I am very proud of the fact' 23 00:01:47,960 --> 00:01:51,240 'that we are present in more than 750 towns.' 24 00:01:51,320 --> 00:01:54,440 'More than a few hundred thousand points of sale.' 25 00:01:54,520 --> 00:01:58,240 'Five years ago, Shark Tank didn't exist.' 26 00:01:58,320 --> 00:02:00,280 'Thanks to Shark Tank' 27 00:02:00,360 --> 00:02:02,160 'and social media,' 28 00:02:02,240 --> 00:02:04,680 'a new generation of entrepreneurs is emerging' 29 00:02:04,760 --> 00:02:07,920 'in a country already known for its entrepreneurial spirit.' 30 00:02:10,880 --> 00:02:13,120 - Veeba! - What will you eat today? [all] 31 00:02:13,200 --> 00:02:16,640 'I am so excited to see the next generation of entrepreneurs' 32 00:02:16,760 --> 00:02:18,960 'the products they create,' 33 00:02:19,040 --> 00:02:22,440 'how they sell them, and how they manage distribution. 34 00:02:24,080 --> 00:02:26,640 'The founders who will be on the tank,' 35 00:02:26,720 --> 00:02:28,160 'are the future of India.' 36 00:02:28,280 --> 00:02:30,680 'They also have a lot of responsibility on them.' 37 00:02:30,760 --> 00:02:34,160 'And at the same time, I take this responsibility very seriously,' 38 00:02:34,240 --> 00:02:37,400 'that we also back the right kind of founder.' 39 00:02:41,440 --> 00:02:45,000 'In this seat, my time, value, and money' 40 00:02:45,080 --> 00:02:47,040 'should go towards helping the right source.' 41 00:02:47,160 --> 00:02:50,680 'In a way, the more we help the newer founder,' 42 00:02:50,800 --> 00:02:53,520 'the more we help to make this country' 43 00:02:53,600 --> 00:02:56,360 'more entrepreneurial, growth to the GDP' 44 00:02:56,440 --> 00:02:59,520 'and how do we make this great country greater?' 45 00:03:00,520 --> 00:03:02,560 [music playing] 46 00:03:05,720 --> 00:03:09,560 Burger Bae! I knew that there would be more food pitches. 47 00:03:11,840 --> 00:03:13,920 But this is not food. 48 00:03:14,040 --> 00:03:17,000 It isn't food? There's 'burger' on it. 49 00:03:21,400 --> 00:03:23,840 [music playing] 50 00:03:29,240 --> 00:03:30,280 Oh, wow! 51 00:03:32,400 --> 00:03:34,240 [music playing] 52 00:03:40,960 --> 00:03:43,280 [music playing] 53 00:03:48,880 --> 00:03:50,720 [music playing] 54 00:03:56,760 --> 00:03:59,040 [music playing] 55 00:04:10,920 --> 00:04:12,440 [music playing] 56 00:04:15,160 --> 00:04:16,920 Oh! 57 00:04:17,040 --> 00:04:18,040 Thank you! 58 00:04:20,600 --> 00:04:22,560 [music playing] 59 00:04:30,240 --> 00:04:34,280 - Come on! Instead of burgers, you gave us clothes. - Nice. 60 00:04:34,360 --> 00:04:36,360 - Tasty clothes! - That too with ketchup. 61 00:04:37,120 --> 00:04:38,640 - Not bad. - Nice touch. 62 00:04:45,520 --> 00:04:49,080 Sharks, runway to racks is old school. 63 00:04:49,720 --> 00:04:52,520 In the olden times, fashion studios 64 00:04:52,600 --> 00:04:55,080 and fashion magazines used to tell us 65 00:04:55,160 --> 00:04:58,000 what was trending and what we should wear. 66 00:04:58,520 --> 00:05:02,360 In today's time, our runway is our Instagram feed. 67 00:05:02,480 --> 00:05:04,400 Where through likes, comments 68 00:05:04,520 --> 00:05:08,680 and shares we decide what's trending. 69 00:05:09,080 --> 00:05:11,840 Social media has democratised fashion. 70 00:05:11,960 --> 00:05:14,280 And influencers are our representatives. 71 00:05:14,480 --> 00:05:16,120 They just know what's cool. 72 00:05:16,200 --> 00:05:19,240 Influencers are driving brand promotions 73 00:05:19,360 --> 00:05:20,920 and creating virality, 74 00:05:21,040 --> 00:05:23,960 with Burger Bae at the core of this movement. 75 00:05:25,920 --> 00:05:29,680 Burger Bae is an Instagram community driven, D2C clothing brand. 76 00:05:35,720 --> 00:05:38,040 so that you look like a snack. 77 00:05:46,240 --> 00:05:50,080 Our loyal customer and influencer community 78 00:05:50,160 --> 00:05:53,400 gives us insights into the latest pop-culture. 79 00:05:53,680 --> 00:05:58,200 By using their feedback and the content they shot, 80 00:05:58,280 --> 00:06:01,200 we create your favourite outfits. 81 00:06:01,280 --> 00:06:04,680 Just like your favourite burgers, our outfits are also 82 00:06:04,800 --> 00:06:08,000 hot, spicy, juicy, saucy, 83 00:06:08,200 --> 00:06:10,880 and most importantly, comfortable. 84 00:06:11,080 --> 00:06:15,200 We create outfits that you want to wear. 85 00:06:16,120 --> 00:06:20,520 Until now, we have served looks to more than 2.5 lakhs. 86 00:06:20,640 --> 00:06:25,960 And we've created a strong Instagram community of 2.7 lakhs. 87 00:06:26,440 --> 00:06:28,760 India's biggest gold 88 00:06:28,840 --> 00:06:31,800 is its manufacturing capacity. 89 00:06:31,880 --> 00:06:34,920 We aim to leverage this capacity 90 00:06:35,080 --> 00:06:37,160 to build a major lifestyle brand. 91 00:06:37,760 --> 00:06:43,240 - Today, our ask is Rs. 1 crore for 2.5%. - Phew! 92 00:06:50,840 --> 00:06:52,520 Sharks, these are our influencer friends. 93 00:06:52,600 --> 00:06:54,520 They are the reason we exist. 94 00:06:54,640 --> 00:06:58,480 - Oh wow! Are you models and influencers? - Influencers. 95 00:06:59,040 --> 00:07:00,240 Okay, thanks, guys. 96 00:07:00,320 --> 00:07:02,040 - Bye, guys! - Thank you, guys. 97 00:07:02,520 --> 00:07:04,840 Okay! Janvi, Rohan, Ojasvee, 98 00:07:04,960 --> 00:07:06,960 - welcome to Shark Tank Season 4. - Thank you! 99 00:07:07,080 --> 00:07:11,120 - Some of the Sharks were thinking this was a food company. - I know. 100 00:07:11,200 --> 00:07:12,080 I was one of them. 101 00:07:12,200 --> 00:07:14,200 - I was also one of them. - I was drooling. 102 00:07:14,280 --> 00:07:17,000 But that is our tagline. Tasty Clothing. 103 00:07:17,080 --> 00:07:18,360 Yeah! I like it. 104 00:07:18,440 --> 00:07:20,680 We make you look tasty, that's the scene. 105 00:07:20,760 --> 00:07:24,680 Okay, tell us about you. How did you start Burger Bae? 106 00:07:34,440 --> 00:07:37,400 I've always admired Narayana Murthy's approach to building a business. 107 00:07:37,480 --> 00:07:40,800 He just didn't build Infosys, he put Bengaluru on the map. 108 00:07:40,880 --> 00:07:42,760 He's known as the father of the IT sector. 109 00:07:42,880 --> 00:07:45,840 So, I have a delusional aspirational goal. 110 00:07:46,000 --> 00:07:48,240 I want to be Ludhiana's Narayan Murthy. 111 00:07:48,320 --> 00:07:50,120 I want to be the Narayan Murthy of fashion. 112 00:07:50,200 --> 00:07:51,360 So sweet. 113 00:07:51,440 --> 00:07:53,480 So sweet. You will have to work 70 hours. 114 00:07:53,560 --> 00:07:55,440 Even more! 100 hours. 115 00:07:56,160 --> 00:07:57,720 - Or more. - Or more. 116 00:07:57,800 --> 00:07:59,560 Ludhiana is famous for two things. 117 00:07:59,640 --> 00:08:02,040 Bicycle manufacturing and clothing. 118 00:08:02,120 --> 00:08:04,320 I have a close friend 119 00:08:04,400 --> 00:08:06,480 who was in my class. I went to his export unit. 120 00:08:06,560 --> 00:08:08,360 He makes T-shirts for a renowned brand 121 00:08:08,440 --> 00:08:10,960 and it retails for Rs. 5,500. It's an international brand. 122 00:08:11,200 --> 00:08:14,360 He gets paid Rs. 56 to stitch a T-shirt. 123 00:08:14,480 --> 00:08:19,400 I was blown away! That Ludhiana gets 1% of the entire supply chain. 124 00:08:20,640 --> 00:08:23,760 Ludhiana makes the best fleece in the world. 125 00:08:23,840 --> 00:08:26,240 Why are we only making them for foreign brands? 126 00:08:26,360 --> 00:08:28,280 Why can't we have a brand of our own? 127 00:08:28,360 --> 00:08:31,360 I thought of helping export units to make a D2C brand. 128 00:08:31,440 --> 00:08:32,960 I started a social media agency 129 00:08:33,040 --> 00:08:35,320 back in the days when the idea was not too cliché. 130 00:08:35,520 --> 00:08:37,240 This was in 2017-2018. 131 00:08:37,320 --> 00:08:40,480 I started, but I wasn't making money, 132 00:08:40,560 --> 00:08:42,600 so I thought of showing them how it's done. 133 00:08:42,680 --> 00:08:44,680 I am someone who loves burgers. 134 00:08:44,760 --> 00:08:47,800 So, I came up with the name Burger Bae and started. 135 00:08:48,880 --> 00:08:51,720 Things went so viral that we couldn't start the agency. 136 00:08:51,800 --> 00:08:53,400 Was the name of the agency Burger Bae? 137 00:08:53,480 --> 00:08:55,800 - No! The agency's name was BXB SOCIALS. 138 00:08:55,880 --> 00:08:59,480 We started a pilot business called Burger Bae to showcase how it's done. 139 00:08:59,600 --> 00:09:02,760 - Got it! - The colour you are wearing is the hottest colour... 140 00:09:02,880 --> 00:09:04,960 - Yes! - Yeah! So, that's the thing about Ludhiana. 141 00:09:11,440 --> 00:09:12,440 I love the colour. 142 00:09:12,520 --> 00:09:14,160 - Are you wearing this by chance? - No! 143 00:09:14,280 --> 00:09:17,320 That's the conscious effort, that's the supply chain we have. 144 00:09:17,440 --> 00:09:19,160 It's so fast that in four days, 145 00:09:19,240 --> 00:09:22,120 we made this Pantone and made the entire team wear it 146 00:09:22,200 --> 00:09:23,600 - and we also wore it. - Very nice. 147 00:09:23,880 --> 00:09:26,080 It shows that you are ahead of the curve. 148 00:09:26,160 --> 00:09:28,320 - You follow the trends. - Yes. 149 00:09:32,920 --> 00:09:33,960 What are your stories? 150 00:09:34,080 --> 00:09:35,760 We both are siblings. 151 00:09:35,840 --> 00:09:38,720 I studied fashion design at NIFT. 152 00:09:38,800 --> 00:09:41,360 - And I was working with one of... - Which campus? 153 00:09:41,600 --> 00:09:43,240 - NIFT, Kolkata. - Okay. 154 00:09:47,920 --> 00:09:49,600 Her name is Anamika Khanna. 155 00:09:49,680 --> 00:09:51,160 - Of course. - Lovely stuff. 156 00:09:51,240 --> 00:09:53,040 After that, COVID hit us. 157 00:09:53,120 --> 00:09:56,160 Unfortunately, my parents contracted COVID 158 00:09:56,240 --> 00:09:58,080 and it got extremely serious. 159 00:09:58,160 --> 00:10:01,720 So, I took a sabbatical and came home. 160 00:10:01,800 --> 00:10:04,600 Our mom would always tell Rohan, 161 00:10:04,680 --> 00:10:07,120 'Rohan, you can't look after your wardrobe,' 162 00:10:07,360 --> 00:10:09,560 'how will you handle the business?' 163 00:10:09,640 --> 00:10:12,960 You won't believe it, I went to his factory, and I thought 164 00:10:13,400 --> 00:10:16,480 it was messier than his wardrobe. 165 00:10:16,640 --> 00:10:18,680 That's how I decided 166 00:10:18,760 --> 00:10:20,720 - to fix it. I need to! - Fix it! 167 00:10:20,800 --> 00:10:22,280 Which year did you join? 168 00:10:22,360 --> 00:10:25,280 I joined in 2021. 169 00:10:25,360 --> 00:10:26,560 When did you start? 170 00:10:26,640 --> 00:10:28,560 November 2019. 171 00:10:29,320 --> 00:10:30,680 What about you, Janvi? 172 00:10:30,760 --> 00:10:32,560 I am an influencer. 173 00:10:32,840 --> 00:10:36,200 I was their customer. I saw this very cool brand on Instagram. 174 00:10:36,280 --> 00:10:38,320 My first experience was amazing. 175 00:10:38,400 --> 00:10:41,040 He messed up with the second order. 176 00:10:41,120 --> 00:10:42,800 - What did he do? - I didn't get the order. 177 00:10:42,840 --> 00:10:44,080 - You didn't get it? - I didn't. 178 00:10:44,080 --> 00:10:45,920 - Did he take the money? - It was prepaid, 179 00:10:46,040 --> 00:10:47,760 - they didn't start cash on delivery. - Okay. 180 00:10:47,760 --> 00:10:49,760 I couldn't reach them for two months. 181 00:10:49,840 --> 00:10:52,720 Finally, after two months, I caught hold of an intern. 182 00:10:52,960 --> 00:10:56,400 And I really blasted on her. I was like, 'What is this?' 183 00:10:56,480 --> 00:10:58,720 'I relied on you.' 184 00:10:58,840 --> 00:11:00,480 She started crying. 185 00:11:00,560 --> 00:11:01,960 Half an hour later, he called me. 186 00:11:02,040 --> 00:11:05,800 And he was like, 'Hi, I am the founder. I am really sorry.' 187 00:11:05,920 --> 00:11:09,080 'For the rest of your life, whenever you shop from Burger Bae,' 188 00:11:09,200 --> 00:11:12,520 - 'I will give you unreleased merch.' - Oh, nice. 189 00:11:12,600 --> 00:11:14,880 I was happy. This is very customer-centric 190 00:11:14,960 --> 00:11:17,000 and sweet. That's how we became friends. 191 00:11:17,120 --> 00:11:18,720 One conversation led to the other. 192 00:11:18,800 --> 00:11:22,760 We are a customer-centric and customer-loving organisation. 193 00:11:22,840 --> 00:11:25,240 - Our friendship became... - Turned into love. 194 00:11:25,360 --> 00:11:27,440 - Love for customers. - Very good. 195 00:11:27,520 --> 00:11:28,960 - So, it's been... - Look at him! 196 00:11:29,040 --> 00:11:31,080 [laughing] 197 00:11:31,160 --> 00:11:32,880 Why are you blushing so much? 198 00:11:35,480 --> 00:11:36,560 Is this new? 199 00:11:36,680 --> 00:11:38,760 It's been two years since we've been dating. 200 00:11:38,840 --> 00:11:42,800 I joined Burger Bae a year ago as the co-founder. 201 00:11:47,960 --> 00:11:49,960 Is that the three of you in the logo? 202 00:11:50,360 --> 00:11:51,440 - Yes! - That's right. 203 00:11:51,520 --> 00:11:54,680 Your logo and your style is cool. 204 00:11:55,840 --> 00:11:56,920 The quality is really good. 205 00:11:56,920 --> 00:11:59,720 Yes, sir. Ludhiana's fleece is the best in the whole world. 206 00:11:59,840 --> 00:12:02,560 With the help of our tech, from 500 GSM, 207 00:12:06,680 --> 00:12:09,680 We also do a lot of R&D because it's flat. 208 00:12:12,600 --> 00:12:14,320 Everyone wants to do fintech and healthtech. 209 00:12:14,360 --> 00:12:16,400 Smart people are not getting into clothing. 210 00:12:16,880 --> 00:12:19,240 - It's good! - He is smelling the socks. 211 00:12:19,320 --> 00:12:20,760 That's the R&D we do. 212 00:12:20,840 --> 00:12:22,040 Smell it. 213 00:12:22,880 --> 00:12:25,240 - Oh my God! It smells of coffee. - Yes! 214 00:12:25,320 --> 00:12:26,600 Smell it. 215 00:12:26,920 --> 00:12:30,120 - That is a fantastic innovation. - It's beautiful! It's really nice. 216 00:12:31,280 --> 00:12:35,800 A customer delight! When you open it, there's a lovely aroma. 217 00:12:38,720 --> 00:12:40,960 It's a strawberry shake. 218 00:12:41,040 --> 00:12:43,040 - And it smells of strawberry for 20 washes. - Wow! 219 00:12:48,240 --> 00:12:50,400 How much do they cost? 220 00:12:50,520 --> 00:12:52,960 - We haven't released them yet. - It is unreleased. 221 00:12:53,080 --> 00:12:53,920 How much will it cost? 222 00:12:54,000 --> 00:12:55,880 Around Rs. 1,200 for a T-shirt. 223 00:12:55,960 --> 00:12:58,160 Rohan, this hoodie is for Rs. 4,000, right? 224 00:12:58,240 --> 00:13:00,200 Our hoodies start from Rs. 1,500. 225 00:13:00,280 --> 00:13:03,960 The one you have, which is 770 GSM, is for Rs. 3,000. 226 00:13:06,520 --> 00:13:08,640 I am very fascinated by the story of GoColors. 227 00:13:08,880 --> 00:13:10,480 - Yeah! - It's a Rs. 800 crores company. 228 00:13:10,560 --> 00:13:12,920 30% EBITDA. It also went public. 229 00:13:13,000 --> 00:13:14,560 - It's a great story. - Yeah! 230 00:13:14,640 --> 00:13:17,200 They have a clear idea about distribution. 231 00:13:17,280 --> 00:13:19,400 They started with kiosks in airports. 232 00:13:19,560 --> 00:13:20,840 They were very clear about 233 00:13:21,040 --> 00:13:24,360 where they wanted offline distribution and why. 234 00:13:24,440 --> 00:13:25,840 Have you thought about that? 235 00:13:25,920 --> 00:13:28,760 We have consciously stayed away from the marketplace. 236 00:13:28,920 --> 00:13:31,840 Because we think quick commerce is the future. 237 00:13:31,920 --> 00:13:34,400 It's going to be a massive industry going ahead. 238 00:13:34,480 --> 00:13:36,960 - You know, up to a certain point, quick commerce is good. - Yes! 239 00:13:37,000 --> 00:13:39,400 - But when you bring in an investor, we want scale. - Yes. 240 00:13:39,480 --> 00:13:41,440 You need to think of your distribution model, 241 00:13:41,560 --> 00:13:43,120 especially offline. 242 00:13:43,200 --> 00:13:44,640 You should think about kiosks 243 00:13:44,720 --> 00:13:45,960 and then move on to EBO. 244 00:13:46,040 --> 00:13:49,600 - And rent revenue ratio. GoColors is 15%. Brilliant! - Yes. 245 00:13:54,280 --> 00:13:57,800 EBO! EBO means Exclusive Brand Outlets. 246 00:13:57,880 --> 00:14:01,600 These stores sell products of a specific brand. 247 00:14:02,360 --> 00:14:06,680 Through EBOs, brands offer their unique experience 248 00:14:06,840 --> 00:14:09,440 and exclusive range. 249 00:14:09,640 --> 00:14:14,160 And the customers get a chance to engage directly with brands. 250 00:14:15,760 --> 00:14:17,000 How are you selling now? 251 00:14:17,080 --> 00:14:19,720 - 100% on our website through Instagram. - Online! 252 00:14:19,800 --> 00:14:21,840 - You don't sell on marketplaces? - No. 253 00:14:21,920 --> 00:14:23,800 Which are a few top-selling products? 254 00:14:23,880 --> 00:14:25,000 80% is this. 255 00:14:25,080 --> 00:14:26,440 20% is the sensual stuff 256 00:14:26,560 --> 00:14:29,000 that influencers make and design. They were wearing them. 257 00:14:35,600 --> 00:14:37,360 Suppose Hailey Bieber 258 00:14:37,440 --> 00:14:39,480 or Kim Kardashian is wearing something. 259 00:14:39,600 --> 00:14:41,080 They will send us a picture 260 00:14:41,160 --> 00:14:43,080 asking us if we can make this design. 261 00:14:43,200 --> 00:14:46,080 We try to replicate it as closely as possible. 262 00:14:46,160 --> 00:14:47,520 What do they get in return? 263 00:14:47,760 --> 00:14:49,400 - Ah... - Money! 264 00:14:49,520 --> 00:14:51,800 The vibe! The whole ecosystem. 265 00:14:51,880 --> 00:14:53,040 - No money? - No money? 266 00:14:53,120 --> 00:14:54,600 No! We don't pay them. 267 00:14:54,680 --> 00:14:59,280 They feel proud when we launch what they suggested. 268 00:15:02,000 --> 00:15:03,320 ...influencers for design, 269 00:15:03,440 --> 00:15:05,920 - but also for community building and marketing. - Yes. 270 00:15:06,160 --> 00:15:09,520 In fashion, distribution, supply chain, 271 00:15:09,600 --> 00:15:11,480 styles and designs, 272 00:15:16,120 --> 00:15:17,760 First of all, it's the whole 273 00:15:17,840 --> 00:15:21,560 of Ludhiana's entire structure which we have access to. 274 00:15:21,640 --> 00:15:23,960 We invest in grey fabrics. 275 00:15:24,040 --> 00:15:26,840 It usually takes 15 days to dye a fabric. 276 00:15:26,920 --> 00:15:29,840 We have ideal capacities operationally locked. 277 00:15:29,920 --> 00:15:34,120 As we said, this Pantone shade was announced 3-4 days ago. 278 00:15:34,280 --> 00:15:37,400 We quickly convert grey fabric into Pantone shades. 279 00:15:37,520 --> 00:15:41,320 Parallelly, if an influencer's content is going viral on a Friday, 280 00:15:41,400 --> 00:15:44,200 we can project through the ERP system 281 00:15:44,320 --> 00:15:46,480 to quickly inform it that this stock needs to be expedited, 282 00:15:46,520 --> 00:15:48,760 so the Pantone can be dyed quickly. 283 00:15:48,840 --> 00:15:52,200 It gets dyed and sent to our factories. We own factories. 284 00:15:52,280 --> 00:15:54,280 We try to make it within 285 00:15:54,360 --> 00:15:57,600 24 to 48 hours. It sometimes takes around a week. 286 00:15:57,720 --> 00:16:00,200 And we are able to monetise viral content. 287 00:16:00,280 --> 00:16:03,840 - Take NEWME as an example, which was launched in India. - Yes. 288 00:16:03,920 --> 00:16:07,200 - Or a Chinese company. What is it called? - SHEIN. 289 00:16:07,280 --> 00:16:09,160 - Right! Let's take SHEIN for example. - Savana. 290 00:16:09,200 --> 00:16:10,440 - They started the trend. - Yes. 291 00:16:10,520 --> 00:16:12,240 Zara has built 292 00:16:12,360 --> 00:16:14,240 a rapid supply chain. 293 00:16:14,320 --> 00:16:15,680 - But SHEIN was faster than them. - Yeah! 294 00:16:15,720 --> 00:16:18,640 This is a learning for you. 295 00:16:18,720 --> 00:16:20,880 You don't have a lock-in in Ludhiana. 296 00:16:21,000 --> 00:16:23,400 - Somebody else can go to Ludhiana and step in. - Absolutely. 297 00:16:23,440 --> 00:16:26,600 Is there something that differentiates you? 298 00:16:26,680 --> 00:16:29,440 We fall in the middle of quality, 299 00:16:29,520 --> 00:16:31,920 affordability, sustainability, 300 00:16:32,000 --> 00:16:33,560 community and style. 301 00:16:33,640 --> 00:16:36,440 - Wow! - You will notice that brands like SHEIN... 302 00:16:36,520 --> 00:16:38,880 I used to shop a lot from SHEIN like others. 303 00:16:38,960 --> 00:16:41,040 They are selling products at a very cheap price. 304 00:16:41,120 --> 00:16:43,680 And the quality isn't an emphasis. 305 00:16:44,200 --> 00:16:46,400 With us, because the quality is good, 306 00:16:46,480 --> 00:16:48,000 the prices are affordable. 307 00:16:48,080 --> 00:16:50,320 Tell me something, who is the customer? 308 00:16:56,400 --> 00:16:59,680 To build a large company with millions in sales, 309 00:16:59,760 --> 00:17:02,000 you need a structural advantage. 310 00:17:02,120 --> 00:17:05,360 - That's absolutely right. - Our current brand persona 311 00:17:05,640 --> 00:17:10,800 is this girl in your office or college who's sort of a red flag. 312 00:17:10,880 --> 00:17:14,120 - Someone who is toxic. - Red flag. 313 00:17:14,240 --> 00:17:16,440 But you still can't stop thinking about her. 314 00:17:16,960 --> 00:17:19,520 Wow! That is your brand persona. 315 00:17:19,640 --> 00:17:21,880 I could've never imagined this answer to his question. 316 00:17:22,040 --> 00:17:23,160 What an answer! 317 00:17:23,440 --> 00:17:26,600 Instagram is a big asset for us. 318 00:17:26,680 --> 00:17:31,080 If you are the hottest girl in your college, you have to be on our feed. 319 00:17:31,200 --> 00:17:33,680 If you are 'The Guy' in your college, then you are featured on the feed. 320 00:17:33,680 --> 00:17:35,960 - Really? - This is our comparative advantage. 321 00:17:36,040 --> 00:17:36,840 What are you saying? 322 00:17:36,920 --> 00:17:40,400 Most of the feed features our customers. 323 00:17:40,520 --> 00:17:41,880 We pick him or her. 324 00:17:41,960 --> 00:17:43,000 So, she's just a customer. 325 00:17:43,000 --> 00:17:44,720 If you check her profile, 326 00:17:44,800 --> 00:17:47,480 she made efforts and gave us this picture. 327 00:17:47,600 --> 00:17:49,240 If we see the previous one too... 328 00:17:49,440 --> 00:17:52,520 - This is my friend from ISB. - Yeah. 329 00:17:52,600 --> 00:17:55,800 - What do you mean? - I am doing a course at ISB. 330 00:17:55,880 --> 00:17:58,120 They have a new course called IVI. 331 00:17:58,800 --> 00:18:01,080 - Which ISB are you... - Hyderabad. 332 00:18:01,160 --> 00:18:03,320 Where do you live now? After ISB... 333 00:18:03,400 --> 00:18:05,360 In the campus because it's a 6 month course. 334 00:18:05,440 --> 00:18:07,080 - It's a residential on campus... - Right! 335 00:18:07,120 --> 00:18:09,600 - But you joined them, right? - Yes! 336 00:18:09,680 --> 00:18:12,760 - Were you in Ludhiana back then? - Yes! Ludhiana and Gurugram. 337 00:18:12,840 --> 00:18:14,760 Where is the office? Ludhiana or Gurugram? 338 00:18:14,840 --> 00:18:17,200 Our factory operations are completely in Ludhiana. 339 00:18:17,280 --> 00:18:20,200 We have clusters in Chandigarh, Delhi and Gurugram 340 00:18:20,280 --> 00:18:23,000 where we assist influencers with content creation. 341 00:18:25,920 --> 00:18:28,640 I live in Ludhiana and Kolkata. 342 00:18:28,760 --> 00:18:30,200 I got married in Kolkata. 343 00:18:31,640 --> 00:18:34,600 Could you share the last three years of revenue? 344 00:18:34,680 --> 00:18:36,120 Can I start from 2020? 345 00:18:36,240 --> 00:18:37,320 - Okay, no problem. - Yes. 346 00:18:37,400 --> 00:18:40,000 In 2020, we closed at 15 lakhs. 347 00:18:40,080 --> 00:18:42,000 FY21 at Rs. 56 lakhs. 348 00:18:42,080 --> 00:18:44,960 FY22 at Rs. 1.6 crores. 349 00:18:45,080 --> 00:18:46,320 Nice! 350 00:18:46,440 --> 00:18:48,960 FY23 at 4.6 crores. 351 00:18:49,040 --> 00:18:50,120 Not bad. 352 00:18:50,600 --> 00:18:53,800 - And FY24 at Rs. 11.8 crores. - Yes. 353 00:18:54,400 --> 00:18:56,560 What is the revenue for this year so far? Year-to-date. 354 00:18:56,600 --> 00:18:57,760 Around Rs. 10 crores. 355 00:18:57,840 --> 00:18:59,160 At what revenue will you close this year? 356 00:18:59,200 --> 00:19:01,440 We will cross Rs. 15 crores. We will touch Rs. 15 crores. 357 00:19:01,520 --> 00:19:03,800 - How much did you make last month? - Rs. 92 lakhs 358 00:19:04,600 --> 00:19:07,080 - Ever since your revenue of Rs. 1.6 crores... - Yeah! 359 00:19:07,200 --> 00:19:08,640 What does the bottom line look like? 360 00:19:08,680 --> 00:19:11,160 Our approach is... 361 00:19:11,240 --> 00:19:12,600 When we forecast, 362 00:19:12,720 --> 00:19:14,640 we lock PAT at 5... 363 00:19:14,760 --> 00:19:16,240 - 5%? - 5%. 364 00:19:16,360 --> 00:19:19,240 - So, you made Rs. 8 lakhs in FY22. - Roughly! 365 00:19:19,360 --> 00:19:21,200 How much was our profit in FY23? 366 00:19:21,280 --> 00:19:22,760 Around 23 lakhs. 367 00:19:22,840 --> 00:19:25,040 - Okay! And in FY24? - Rs. 60 lakhs. 368 00:19:25,160 --> 00:19:26,520 How much is it this year? 369 00:19:26,600 --> 00:19:28,840 - I think this year our profit is less. - How less? 370 00:19:29,080 --> 00:19:31,920 It should be around 3%. 371 00:19:32,000 --> 00:19:33,240 So, the profit is Rs. 30 lakhs. 372 00:19:33,240 --> 00:19:36,640 - Yes! - Why is the profitability low? 373 00:19:36,720 --> 00:19:38,840 - Why has it... - Did you increase marketing spend 374 00:19:38,920 --> 00:19:41,120 - in the last... - No! We almost went bankrupt. 375 00:19:41,280 --> 00:19:42,280 Oh! 376 00:19:45,040 --> 00:19:48,120 And the reason... Yes! 377 00:19:48,760 --> 00:19:50,040 What happened in the business? 378 00:19:50,120 --> 00:19:53,360 When I wanted to start in 2019, 379 00:19:53,480 --> 00:19:57,480 out of excitement, I signed a bad deal. 380 00:19:58,040 --> 00:20:01,080 I gave 33% of my company to a strategic partner. 381 00:20:01,160 --> 00:20:02,800 Their responsibility was 382 00:20:02,880 --> 00:20:06,520 taking care of manufacturing and investing in the working capital. 383 00:20:11,360 --> 00:20:15,440 Their factory wasn't used. It worked for them, but not for us. 384 00:20:15,520 --> 00:20:18,200 Gradually, we found out there was a mismatch and we stopped working. 385 00:20:18,200 --> 00:20:20,960 My 33% equity was dead. There was no contribution. 386 00:20:21,080 --> 00:20:23,400 At that time, I had invested Rs. 52,000 as capital. 387 00:20:23,520 --> 00:20:26,320 My mentors said if I show this to anyone, 388 00:20:26,440 --> 00:20:28,320 we've become an uninvestable business. 389 00:20:28,400 --> 00:20:31,040 - Everyone knows that there will be legal problems in the future. - 100% 390 00:20:31,040 --> 00:20:32,720 We slowed down 391 00:20:32,840 --> 00:20:36,320 and experienced flat growth, but with excess capital, 392 00:20:36,440 --> 00:20:38,960 we did our best to pay them off 393 00:20:39,400 --> 00:20:41,440 and acquired the stake. 394 00:20:41,560 --> 00:20:42,800 - Now we own 100%. - Oh wow! 395 00:20:42,920 --> 00:20:44,000 - Well done. - Very good. 396 00:20:44,200 --> 00:20:46,440 - How much did you pay them? - Roughly, Rs. 3 crores. 397 00:20:51,560 --> 00:20:52,600 Who gave you that? 398 00:20:52,680 --> 00:20:54,280 RBF! Revenue-based financing. 399 00:21:03,800 --> 00:21:06,680 - RBF is a debt firm. - Yes. 400 00:21:06,760 --> 00:21:11,440 - Okay! You took debt from a company against sales. - Yes. 401 00:21:11,520 --> 00:21:15,760 You took that debt or working capital and bought the shares. 402 00:21:15,840 --> 00:21:18,280 - No. - That is what I am asking. Where did the money come from? 403 00:21:18,280 --> 00:21:19,760 That was invested into the business. 404 00:21:19,840 --> 00:21:22,600 Yes! We focused on flowing the sales gradually, 405 00:21:22,680 --> 00:21:25,960 setting targets for the amount of money we needed to make. 406 00:21:26,080 --> 00:21:28,360 But you didn't make Rs. 3 crores to pay him. 407 00:21:28,480 --> 00:21:29,600 Yes, exactly! 408 00:21:31,200 --> 00:21:33,520 We withdrew around Rs. 30-40 lakhs from the business. 409 00:21:33,640 --> 00:21:36,160 And the rest we gave from our pocket. 410 00:21:36,280 --> 00:21:37,320 Hey! 411 00:21:38,480 --> 00:21:39,680 Where did you get that cash from? 412 00:21:39,680 --> 00:21:43,640 When no one is with you, your mom... So, mom. 413 00:21:45,760 --> 00:21:49,640 So, your investment is Rs. 56,000 and what your mom gave. 414 00:21:49,720 --> 00:21:51,080 Because you bought that share. 415 00:21:51,160 --> 00:21:53,080 - We did buy out. - She put it in the company. 416 00:21:53,880 --> 00:21:56,160 How much did you take from your family to buyout? 417 00:21:56,880 --> 00:22:00,360 Ah... Roughly... 418 00:22:01,040 --> 00:22:02,320 The answer has to be simple. 419 00:22:02,400 --> 00:22:05,040 Yes! Roughly Rs. 2 crores. 420 00:22:05,120 --> 00:22:08,040 - You focus on design. - Janvi, you take over the business. 421 00:22:08,160 --> 00:22:10,800 Because he... 422 00:22:10,880 --> 00:22:12,000 Roughly Rs. 2 crores. 423 00:22:12,800 --> 00:22:14,200 I know you are working bottom-up. 424 00:22:14,280 --> 00:22:17,560 You were doing that because you owed money. 425 00:22:17,960 --> 00:22:19,960 - So that you can make the payment. - From the start... 426 00:22:19,960 --> 00:22:21,840 Anyway, whatever the reason is. Keep that aside. 427 00:22:21,840 --> 00:22:23,960 - Okay! - Hurry up and tell us about the unit economics. 428 00:22:23,960 --> 00:22:25,400 - Yes. - Especially logistics. 429 00:22:25,480 --> 00:22:27,000 I will start from the ground up. 430 00:22:27,080 --> 00:22:28,480 - Because that's how we look at things. - Okay. 431 00:22:28,520 --> 00:22:31,600 5% PAT, 15% EBITDA. 432 00:22:31,960 --> 00:22:34,200 15% EBITDA? What is... There is RBF. 433 00:22:34,280 --> 00:22:36,440 - Yes, RBF's interest payment. - Got it. 434 00:22:36,520 --> 00:22:38,920 - Yeah! - 5% is fixed expenses. 435 00:22:39,000 --> 00:22:41,320 It covers salaries, rentals and everything else. 436 00:22:41,400 --> 00:22:43,120 - 15% is marketing. - Okay. 437 00:22:43,200 --> 00:22:45,920 Yeah! And 55%-60%... 438 00:22:46,000 --> 00:22:48,920 It was our conscious decision 439 00:22:49,000 --> 00:22:50,760 to push it in COGS. 440 00:22:50,880 --> 00:22:53,200 Cost of Goods Sold and somewhat R&D we do. 441 00:22:53,280 --> 00:22:55,560 - How much is logistics? - 7%. 442 00:22:56,360 --> 00:22:58,120 How much inventory do we have? 443 00:22:58,200 --> 00:23:00,520 We have a working capital of Rs. 3 crores. 444 00:23:00,600 --> 00:23:02,200 - Roughly... - Rs. 3 crores at COGS 445 00:23:02,320 --> 00:23:03,480 - or selling price? - At COGS. 446 00:23:03,600 --> 00:23:07,480 Rs. 50-Rs. 70 lakhs is only finished products. 447 00:23:11,600 --> 00:23:14,680 we have around one month of inventory and goes up to 45 days. 448 00:23:14,760 --> 00:23:16,160 What about unfinished products? 449 00:23:16,320 --> 00:23:19,720 In kilograms, roughly around a couple of months. 450 00:23:19,800 --> 00:23:21,680 How much cash is there? How are you covering your expenses? 451 00:23:21,680 --> 00:23:24,080 We are covering our expenses by rotating inventory. 452 00:23:24,160 --> 00:23:25,640 That is how... 453 00:23:25,720 --> 00:23:28,240 How much is the bank balance? That's what he's asking. 454 00:23:28,320 --> 00:23:29,560 We keep around Rs 7 lakhs in the bank. 455 00:23:29,560 --> 00:23:31,120 This means you don't have money. 456 00:23:33,840 --> 00:23:36,680 I have a feeling that the business is in a tight spot. 457 00:23:38,200 --> 00:23:39,200 - Yes! - Hmm! 458 00:23:39,720 --> 00:23:40,960 Am I right, Janvi? 459 00:23:41,160 --> 00:23:43,760 Yes, we have gone through something. 460 00:23:43,840 --> 00:23:44,840 Going through it also. 461 00:23:44,920 --> 00:23:47,160 - No, it's done. The worst is behind us. - No, it's done. 462 00:23:47,200 --> 00:23:48,440 But it's just fading out. 463 00:23:48,520 --> 00:23:52,520 If we talk about December, that's 10 days, we are backtracked. 464 00:23:52,600 --> 00:23:54,720 We will cross Rs. 1.5 crores. 465 00:23:54,800 --> 00:23:56,600 And by January, we will be at Rs 2 crores. 466 00:23:56,680 --> 00:23:59,720 - Do you pay yourselves a salary? - Yes. 467 00:23:59,880 --> 00:24:00,880 How much is the salary? 468 00:24:01,000 --> 00:24:03,840 I take Rs. 50,000 per month. 469 00:24:04,000 --> 00:24:06,160 - Both of us Rs. 28,000. - Okay, got it. 470 00:24:06,440 --> 00:24:09,840 I don't think I've ever seen a salesperson better than you. 471 00:24:09,960 --> 00:24:13,000 Especially the customer satisfaction aspect, that was incredible. 472 00:24:13,440 --> 00:24:16,080 According to me, you are a bit early for fundraising. 473 00:24:17,000 --> 00:24:20,040 I am out of the investment. But I sell sauces. 474 00:24:20,120 --> 00:24:22,240 You sell burgers and we can join. 475 00:24:22,320 --> 00:24:24,200 We can collaborate between Burger Bae and Veeba. 476 00:24:24,240 --> 00:24:26,320 - You will get a higher sales volume. - Yay! 477 00:24:26,640 --> 00:24:28,400 - Sure! - I am out as well. 478 00:24:29,440 --> 00:24:30,720 There is a lot of talent. 479 00:24:30,800 --> 00:24:34,920 What is lacking is clarity and depth of thinking. 480 00:24:35,080 --> 00:24:38,120 For me, there was a gap in the financials. 481 00:24:38,200 --> 00:24:40,800 I know that the two of you are more on the creative side. 482 00:24:40,880 --> 00:24:45,160 But Janvi, on the financial aspect, the answers should be razor-sharp. 483 00:24:45,680 --> 00:24:47,440 It is early for me. 484 00:24:47,520 --> 00:24:50,480 But I have no doubt that you will crack it. So, I wish you the best. 485 00:24:52,560 --> 00:24:56,640 Your marketing is oriented around brand and lifestyle, 486 00:24:57,160 --> 00:25:00,080 not product. But if you create a lifestyle brand, 487 00:25:00,680 --> 00:25:02,920 you can expand it into several different areas. 488 00:25:03,640 --> 00:25:06,360 So, I will make you an offer. 489 00:25:06,520 --> 00:25:08,840 [music playing] 490 00:25:09,240 --> 00:25:11,960 I will give you Rs. 1 crore for 10%. 491 00:25:18,480 --> 00:25:20,880 [music playing] 492 00:25:21,000 --> 00:25:22,000 Thank you! 493 00:25:23,400 --> 00:25:27,280 - I think you are stretched too thin in the business. - Yeah. 494 00:25:28,400 --> 00:25:31,280 You are doing a lot of things at once. 495 00:25:32,120 --> 00:25:36,400 It's possible that our internal capability is not enough 496 00:25:36,880 --> 00:25:38,120 to manage everything. 497 00:25:38,200 --> 00:25:41,600 Secondly, this is the business of supply chain and business. 498 00:25:43,360 --> 00:25:45,640 Perhaps you lack the rigour 499 00:25:46,040 --> 00:25:49,680 when it comes to business operations and numbers. 500 00:25:50,040 --> 00:25:51,920 I think there is something here. 501 00:25:53,560 --> 00:25:55,680 I will give the same offer as Anupam. 502 00:25:55,800 --> 00:25:57,800 [music playing] 503 00:26:07,160 --> 00:26:09,040 I felt that you guys were too early. 504 00:26:11,040 --> 00:26:13,000 As he mentioned, you are too early. 505 00:26:13,080 --> 00:26:15,400 You don't know much about distribution. 506 00:26:15,480 --> 00:26:17,680 That's what Namita said. And there is no focus. 507 00:26:17,760 --> 00:26:20,480 Kunal stated you don't have rigour. 508 00:26:20,560 --> 00:26:22,680 I disagree with them. 509 00:26:23,560 --> 00:26:25,080 [laughing] 510 00:26:26,640 --> 00:26:27,880 Your products are impactful. 511 00:26:27,960 --> 00:26:30,560 Your style and vibe pack a punch. 512 00:26:30,640 --> 00:26:34,600 When I see these designs and how cool they are... 513 00:26:34,680 --> 00:26:37,760 In fact, I recently went to Abu Dhabi. 514 00:26:37,840 --> 00:26:40,000 - Have you heard of A BATHING APE? - Hmm! 515 00:26:40,080 --> 00:26:43,440 - A BATHING APE. The design seems similar. - Yes, sir. 516 00:26:43,520 --> 00:26:44,520 - It is, right? - Hmm! 517 00:26:44,600 --> 00:26:46,880 In the last one year, 518 00:26:46,960 --> 00:26:48,800 - that has suddenly gone up! Crazy! - Crazy! 519 00:26:48,880 --> 00:26:50,120 - It's taken off. - It has. 520 00:26:50,240 --> 00:26:51,680 It is quite similar. 521 00:26:52,360 --> 00:26:53,400 Let's make it! 522 00:26:53,560 --> 00:26:56,320 I think no one understands Gen Z here. 523 00:26:56,680 --> 00:26:58,800 Or Gen Alpha better than me. 524 00:26:59,440 --> 00:27:00,640 I'll give you an offer. 525 00:27:03,560 --> 00:27:04,800 I have the same offer. 526 00:27:14,160 --> 00:27:16,280 What is happening? What will you do? 527 00:27:16,760 --> 00:27:19,040 I respect what you all get on the table. 528 00:27:19,160 --> 00:27:22,760 We'll have to counter this at 5% for Rs. 1 crore. 529 00:27:34,240 --> 00:27:36,040 Aman, you understand Gen Z. 530 00:27:36,120 --> 00:27:37,920 Self-declared. 531 00:27:38,600 --> 00:27:41,640 No one knows marketing and scale better than you. 532 00:27:41,800 --> 00:27:44,760 And you are the God of the online marketplace. 533 00:27:45,040 --> 00:27:47,680 Rohan, Rs. 1 crore for 5% won't work. 534 00:27:47,760 --> 00:27:50,400 That's 1.66% each. 535 00:27:51,360 --> 00:27:54,000 If you confirm 536 00:27:54,360 --> 00:27:58,120 that you will make Rs. 6 crores in JFM, 537 00:28:06,280 --> 00:28:07,960 Or it will be a mess. 538 00:28:10,000 --> 00:28:11,400 Would all three of you... 539 00:28:11,480 --> 00:28:14,000 I believe if all three join, 540 00:28:15,080 --> 00:28:18,000 it will be 6.67% each. 541 00:28:18,120 --> 00:28:21,680 And you will get more money. 542 00:28:23,240 --> 00:28:27,320 Are you in the mood to do a 20% dilution? What is your view? 543 00:28:28,600 --> 00:28:30,320 We need all three of you. 544 00:28:30,400 --> 00:28:32,120 - Three of us? - Yes. 545 00:28:32,200 --> 00:28:33,920 - Then that is the deal. - What? 546 00:28:34,040 --> 00:28:35,640 Rs. 2 crores for 20%. 547 00:28:39,200 --> 00:28:41,360 Your final and only offer is 548 00:28:41,520 --> 00:28:43,520 Rs. 2 crores for 20% with the three of us together. 549 00:28:47,040 --> 00:28:48,680 She accepted the deal. 550 00:28:48,760 --> 00:28:50,880 - She is... - No, wait! 551 00:28:50,960 --> 00:28:52,920 - Take 30 seconds. Think about it. - Yes. 552 00:28:53,040 --> 00:28:54,960 - This is a big decision. - I don't want you to regret it. 553 00:28:55,000 --> 00:28:56,120 They just came out of 33%. 554 00:28:56,200 --> 00:28:58,920 I don't make a deal to take advantage of you. 555 00:28:59,040 --> 00:29:00,280 Think over it. 556 00:29:00,960 --> 00:29:03,400 [music playing] 557 00:29:05,040 --> 00:29:06,560 She already... 558 00:29:07,160 --> 00:29:10,440 - Janvi has done it 10 times. - She is dancing. 559 00:29:10,600 --> 00:29:13,760 She will hit you. Tell us what you will do. 560 00:29:14,360 --> 00:29:17,240 A... Let's close the deal. 561 00:29:33,360 --> 00:29:36,280 ...lose the chance of having the three of them on board. 562 00:29:36,480 --> 00:29:40,360 Janvi already agreed, so... 563 00:29:40,520 --> 00:29:42,440 I really thought you were also going to do this. 564 00:29:42,520 --> 00:29:44,720 - So, I did that. - I was just standing like this. 565 00:29:44,840 --> 00:29:46,160 - Yeah! - It's fine. 566 00:29:46,440 --> 00:29:49,120 She's right! She's always right. 567 00:29:51,640 --> 00:29:53,600 Team Burger Bae, congratulations! 568 00:29:53,720 --> 00:29:54,840 - Thank you! - Thank you! 569 00:29:54,960 --> 00:29:57,800 Welcome to the PokerBaazi Zone, where you hold the cards. 570 00:30:29,360 --> 00:30:31,400 We are also content and community play. 571 00:30:31,560 --> 00:30:34,640 A lot of brands want to collaborate with us 572 00:30:34,760 --> 00:30:36,800 for community play. 573 00:30:36,880 --> 00:30:39,960 Big music festivals started collaborating with us. 574 00:30:40,040 --> 00:30:42,520 I think that was one of the moments. 575 00:30:42,600 --> 00:30:45,080 We started a clothing business, we didn't know 576 00:30:45,160 --> 00:30:46,680 that this could be a source of revenue. 577 00:30:46,680 --> 00:30:48,680 The community helped us grow, 578 00:30:48,760 --> 00:30:50,480 and this could be a way to give back to them. 579 00:30:50,480 --> 00:30:52,520 Fantastic! And I think having two ladies helps 580 00:30:52,640 --> 00:30:54,880 because your cards is a straight. 581 00:31:20,560 --> 00:31:22,840 If you excel at skills and strategy, 582 00:31:22,920 --> 00:31:25,040 go on PokerBaazi and make your winning hand. 583 00:31:25,160 --> 00:31:26,400 Download the app now. 584 00:31:26,840 --> 00:31:29,720 'Shark Tank India, co-presented by ACKO Insurance, 585 00:31:29,840 --> 00:31:31,880 'PokerBaazi and Swiggy Instamart.' 586 00:31:32,000 --> 00:31:34,640 'Co-powered by Adani and Jaquar Bath and Light.' 587 00:31:34,720 --> 00:31:37,720 'And partners, Rayzon Solar, ICICI Direct, ' 588 00:31:37,840 --> 00:31:39,480 'Lenskart and Sofy.' 589 00:31:40,440 --> 00:31:42,600 Oh, boba tea! I like boba tea. 590 00:31:42,720 --> 00:31:44,600 I might invest in this. 591 00:31:45,480 --> 00:31:47,000 - Let's do a deal together. - Done. 592 00:31:47,080 --> 00:31:49,480 If you like this, let's do it together. 593 00:31:49,600 --> 00:31:51,240 I will make a deal with you. 594 00:31:53,600 --> 00:31:55,400 [theme music playing] 595 00:32:18,320 --> 00:32:20,320 [theme music concludes] 596 00:32:21,360 --> 00:32:23,720 Sharks, we Indians are really very welcoming. 597 00:32:23,880 --> 00:32:26,160 We embrace every cuisine in the world 598 00:32:26,240 --> 00:32:27,880 be it Chinese or Italian. 599 00:32:27,960 --> 00:32:29,400 The current trend is Korean. 600 00:32:29,960 --> 00:32:33,320 Our Gen Z and millennial population are huge fans of K-pop. 601 00:32:33,520 --> 00:32:37,200 And get this. Korean is the fastest learning language in our country. 602 00:32:43,520 --> 00:32:45,360 Korean ramyun is a hit too. 603 00:32:54,720 --> 00:32:56,880 Why not make it world-famous in India? 604 00:32:57,080 --> 00:33:00,480 And here to disrupt the beverage industry is Boba Bhai! 605 00:33:01,120 --> 00:33:02,640 [laughter] 606 00:33:03,680 --> 00:33:05,960 - That's so sweet. - And so weird. 607 00:33:06,040 --> 00:33:07,040 Greetings, Sharks. 608 00:33:09,680 --> 00:33:11,040 I'm the founder of Boba Bhai. 609 00:33:11,160 --> 00:33:12,720 Boba Bhai is a QSR chain 610 00:33:12,800 --> 00:33:16,240 that sells bubble teas, Korean burgers and K-pop ice creams. 611 00:33:22,760 --> 00:33:25,880 So, we've Indianised the classic flavours of bubble tea 612 00:33:25,960 --> 00:33:27,840 and launched some desi flavours 613 00:33:34,560 --> 00:33:36,160 So that every heart goes 'daebak'! 614 00:33:37,960 --> 00:33:40,800 Sharks, we started in October 2023 615 00:33:41,000 --> 00:33:43,200 and we have over 40 outlets. 616 00:33:43,320 --> 00:33:47,240 We fulfil over 70,000 orders every month. 617 00:33:47,480 --> 00:33:48,960 Our vision is 618 00:33:49,040 --> 00:33:52,600 to make Boba Bhai India's fastest-growing K-pop QSR brand. 619 00:33:52,720 --> 00:33:54,320 And so, I have come here 620 00:33:54,400 --> 00:33:58,000 with an ask of Rs. 50 lakhs for 0.3% equity. 621 00:33:58,080 --> 00:33:59,080 - Whoa! - [laughs] 622 00:34:01,680 --> 00:34:03,760 India's fastest-growing K-pop QSR brand. 623 00:34:04,080 --> 00:34:05,080 So, Sharks, 624 00:34:05,200 --> 00:34:07,400 because the K in K-pop means kudos! 625 00:34:07,560 --> 00:34:09,560 Wow! Wonderful. 626 00:34:09,920 --> 00:34:11,440 So, hi, Dhruv. 627 00:34:11,880 --> 00:34:13,240 - How are you? - I'm good. 628 00:34:13,320 --> 00:34:15,880 - You quoted a valuation of Rs. 167 crores. - Yes. 629 00:34:16,080 --> 00:34:18,920 Sorry, I was so shocked to hear the valuation... 630 00:34:19,000 --> 00:34:21,240 I couldn't do the calculation. Thank you for calculating. 631 00:34:21,360 --> 00:34:23,520 Guys, I'm already an investor in Boba Bhai. 632 00:34:23,600 --> 00:34:25,480 I won't be able to participate in this pitch. 633 00:34:25,560 --> 00:34:26,920 At what valuation did you invest? 634 00:34:27,040 --> 00:34:28,640 Ask Dhruv all your questions. 635 00:34:28,720 --> 00:34:30,480 - What's good about them? - Should we invest? 636 00:34:30,600 --> 00:34:32,120 First, eat and make merry. 637 00:34:32,600 --> 00:34:34,000 The food is sponsored by you! 638 00:34:34,080 --> 00:34:35,520 [laughter] 639 00:34:38,680 --> 00:34:40,160 This is the Korean Chicken Burger. 640 00:34:40,280 --> 00:34:41,840 - Thanks. - With some Taro Lava Bubble Tea 641 00:34:41,880 --> 00:34:42,880 and Mango Chilli. 642 00:34:44,360 --> 00:34:46,160 Thanks, bro. Thank you very much. Thank you. 643 00:34:47,240 --> 00:34:48,320 Namita, this is for you. 644 00:34:48,440 --> 00:34:50,000 - Ooh, vegetarian. - This is vegetarian. 645 00:34:50,720 --> 00:34:51,840 Anupam, this is for you. 646 00:34:51,960 --> 00:34:54,160 - There's no milk in it. - Thank you, brother. 647 00:34:54,440 --> 00:34:55,680 This is great. 648 00:34:55,760 --> 00:34:56,600 Good? 649 00:34:56,760 --> 00:34:58,640 You couldn't have it there. So, we called for it here. 650 00:34:58,640 --> 00:35:00,320 Of course, I wouldn't have moved! 651 00:35:00,440 --> 00:35:01,440 [laughs] 652 00:35:03,560 --> 00:35:05,880 My daughter, by the way, loves boba. 653 00:35:06,000 --> 00:35:07,240 - My daughter too. - I'm sure. 654 00:35:07,320 --> 00:35:09,240 - Yes. - Boba tea is a craze. 655 00:35:10,800 --> 00:35:13,080 Just by looking at it, I can say it's fiery! 656 00:35:13,520 --> 00:35:15,720 Dhruv, is your straw eco-friendly? 657 00:35:15,840 --> 00:35:17,760 - Yes, it's paper-based. - Good. 658 00:35:17,960 --> 00:35:18,960 What flavours are these? 659 00:35:19,000 --> 00:35:20,400 Taro Lava and Mango Chilli. 660 00:35:20,480 --> 00:35:21,760 Mango Chilli, wow! 661 00:35:21,880 --> 00:35:24,640 Boba Bhai has low-calorie and no sugar variants as well. 662 00:35:25,920 --> 00:35:28,120 - What are these round things called? - Tapioca. 663 00:35:28,240 --> 00:35:29,320 This is very chewy. 664 00:35:29,400 --> 00:35:31,800 When I generally have it in London, UK, 665 00:35:32,320 --> 00:35:34,040 it's very soft. 666 00:35:45,040 --> 00:35:48,760 - The bubbles are coming out of the straw easily. - Yes. 667 00:35:48,880 --> 00:35:50,960 It dissolves quickly. It's not like one of those hard bubbles. 668 00:35:50,960 --> 00:35:53,960 If you look at the other drinks, they contain chewy tapioca pearls. 669 00:35:54,040 --> 00:35:55,080 This has popping ones. 670 00:35:55,160 --> 00:35:57,240 - What flavour is this? - Blueberry Rose Mint. 671 00:35:57,320 --> 00:35:59,000 - Amazing. - Thank you. 672 00:35:59,200 --> 00:36:00,520 This is delicious. 673 00:36:01,120 --> 00:36:03,040 Your burger isn't great. Sorry. 674 00:36:04,160 --> 00:36:05,640 - Is this Korean burger? - Yes. 675 00:36:05,800 --> 00:36:07,040 - Korean Chicken. - Yes. 676 00:36:07,120 --> 00:36:09,360 No, it's a chicken burger made in Korean sauce. 677 00:36:09,440 --> 00:36:12,240 Korean chicken is also breaded in different ways. 678 00:36:12,920 --> 00:36:13,920 Oh... 679 00:36:15,880 --> 00:36:16,880 This is hot! 680 00:36:18,240 --> 00:36:19,240 This is spicy. 681 00:36:19,480 --> 00:36:20,960 But you know, Anupam? 682 00:36:21,040 --> 00:36:24,160 - Suddenly, the Korean flavours and the high spice... - Yes. 683 00:36:24,240 --> 00:36:26,360 Is really becoming mainstream. 684 00:36:26,640 --> 00:36:28,600 Do you have SKUs in Korean flavours? 685 00:36:28,720 --> 00:36:30,960 - We recently launched Korean noodles. - Okay. 686 00:36:31,040 --> 00:36:32,200 We launched five noodles. 687 00:36:32,320 --> 00:36:33,560 It had Manchurian and all also. 688 00:36:33,640 --> 00:36:36,680 - Korean, number one selling noodle. - You launched it too. 689 00:36:36,760 --> 00:36:39,120 Who buys this the most? Does Gen Z? 690 00:36:39,200 --> 00:36:42,640 It is the age group of 14 to let's say 25 691 00:36:42,720 --> 00:36:45,680 and they're growing with this. So, it's going to stay. 692 00:36:45,840 --> 00:36:47,600 We see two trends right now. 693 00:36:47,680 --> 00:36:51,120 Wellness is becoming a big trend and so is spice. 694 00:36:51,200 --> 00:36:52,200 They go hand in hand. 695 00:36:52,240 --> 00:36:54,520 If you eat spice all day, you're going to need wellness! 696 00:36:54,600 --> 00:36:55,840 [laughter] 697 00:36:56,000 --> 00:36:58,600 We've got some ice creams to counter the spice. 698 00:36:58,680 --> 00:36:59,680 Get it. 699 00:37:00,520 --> 00:37:01,960 This is Taro Ice Cream. 700 00:37:02,040 --> 00:37:04,720 - Popcorn Ice Cream. - I saw stars after having your burger. 701 00:37:05,680 --> 00:37:07,520 - I really did. - Thank you so much. 702 00:37:09,200 --> 00:37:10,840 Filter Coffee! Wow. 703 00:37:11,800 --> 00:37:13,080 Something different. 704 00:37:16,120 --> 00:37:17,600 It's good. The ice cream's cool. 705 00:37:17,720 --> 00:37:20,040 - Thank you. - How is this different from normal ice cream? 706 00:37:20,080 --> 00:37:21,680 You don't get Taro ice cream in India. 707 00:37:21,760 --> 00:37:23,440 - Taro flavour is Korean. - What's taro? 708 00:37:23,520 --> 00:37:24,520 Sweet yam. 709 00:37:24,640 --> 00:37:26,120 - What's sweet yam? - Heard of 'arbi'? 710 00:37:26,240 --> 00:37:27,840 - Yes. - Sweet yam is made from 'arbi'. 711 00:37:27,920 --> 00:37:28,920 The texture is nice. 712 00:37:29,880 --> 00:37:33,160 The brand name has 'bhai' in it like 'Sallu bhai'. 713 00:37:33,400 --> 00:37:36,880 Your mascot is wearing a gold chain like Bappi Da. 714 00:37:36,960 --> 00:37:41,360 How did the design sensibilities and name come to you? 715 00:37:41,480 --> 00:37:44,720 - We're trying to build a brand for Gen Z and millennials. - Yes. 716 00:37:44,840 --> 00:37:47,520 Boba is a word for bubble tea. 717 00:37:47,680 --> 00:37:50,160 Since we were making an Indian brand 718 00:37:50,280 --> 00:37:53,320 - and the Gen Z and millennials address each other as 'bhai'... - Yes. 719 00:37:53,440 --> 00:37:54,840 Hence, Boba Bhai! 720 00:37:54,960 --> 00:37:56,040 Correct, it's a nice name. 721 00:37:56,120 --> 00:37:58,600 And I like that at the very top, 722 00:37:59,280 --> 00:38:00,640 you've given the customer service number. 723 00:38:00,680 --> 00:38:03,680 - 'Unhappy with us' and then this face. - Yes. 724 00:38:03,760 --> 00:38:05,360 This is a nice touch on your packaging. 725 00:38:05,520 --> 00:38:06,520 Thank you. 726 00:38:06,640 --> 00:38:08,800 Welcome to Shark Tank India Season 4. 727 00:38:08,960 --> 00:38:09,960 Thank you for serving us. 728 00:38:10,080 --> 00:38:11,640 I think everyone enjoyed it. 729 00:38:11,760 --> 00:38:13,040 Some items were spicy. 730 00:38:13,360 --> 00:38:16,200 While some liked the texture, others liked the name Boba Bhai. 731 00:38:16,280 --> 00:38:18,880 Very interesting. Your brand is quite unique. 732 00:38:19,360 --> 00:38:23,440 This culture has taken over in India with Korean-pop and so on. 733 00:38:23,880 --> 00:38:25,240 How did you get into this? 734 00:38:25,320 --> 00:38:27,560 Give us a little history with your background. 735 00:38:27,640 --> 00:38:29,840 - I was born in Jalandhar, Punjab. - Okay. 736 00:38:29,920 --> 00:38:31,040 When I was eight, 737 00:38:31,080 --> 00:38:33,840 I moved to Australia with my parents for better education. 738 00:38:33,920 --> 00:38:35,680 I attended high school and university there. 739 00:38:35,760 --> 00:38:37,720 I started my first business at the age of 18. 740 00:38:38,400 --> 00:38:40,080 I was extremely fond of cricket. 741 00:38:40,160 --> 00:38:42,080 Cricket, to me, was life. 742 00:38:42,280 --> 00:38:44,320 So, my first start-up revolved around cricket. 743 00:38:44,560 --> 00:38:46,480 We'd import sports goods from India 744 00:38:46,560 --> 00:38:48,440 - and sell them online in Australia. - Oh, wow. 745 00:38:48,520 --> 00:38:50,760 - We made 150 thousand dollars in profit. - Well done. 746 00:38:50,840 --> 00:38:52,080 This was about 12 years ago. 747 00:38:52,160 --> 00:38:54,120 After that, I went to University 748 00:38:54,200 --> 00:38:56,400 and studied Bachelor of Business, Finance and Marketing. 749 00:38:56,480 --> 00:38:57,320 At University, 750 00:38:57,400 --> 00:38:59,480 I got 100 thousand dollars in scholarships. 751 00:38:59,600 --> 00:39:01,240 I finished my studies at the University. 752 00:39:01,520 --> 00:39:04,000 In 2019, I decided to start my own start-up. 753 00:39:04,080 --> 00:39:05,440 I worked with my other co-founder 754 00:39:05,520 --> 00:39:07,320 who also happens to be my childhood friend. 755 00:39:07,520 --> 00:39:09,960 We wanted to sell snacks in Uber cars. 756 00:39:10,120 --> 00:39:11,720 Ah! I know this company. 757 00:39:11,840 --> 00:39:16,280 Yes. So, we came to India and signed contracts with Uber. 758 00:39:16,360 --> 00:39:18,200 - The pandemic hit us in 2020. - Okay. 759 00:39:18,280 --> 00:39:19,920 Uber cars went out of business. 760 00:39:20,000 --> 00:39:22,280 So, we converted it into a platform. 761 00:39:22,400 --> 00:39:23,720 We got in touch with brands. 762 00:39:23,800 --> 00:39:26,320 "Food delivery is booming. Why don't we send you products?" 763 00:39:26,400 --> 00:39:28,480 Suppose Veeba launched a new sauce. 764 00:39:28,560 --> 00:39:31,120 If a burger was being delivered, you could send that sauce along. 765 00:39:31,240 --> 00:39:32,920 Similarly, we onboarded Coca-Cola, Mondelez 766 00:39:32,960 --> 00:39:34,960 and 500-odd multinational brands. 767 00:39:35,080 --> 00:39:36,880 We had a revenue of 3 odd million dollars. 768 00:39:37,160 --> 00:39:38,480 Good business in the pandemic. 769 00:39:38,600 --> 00:39:41,040 As soon as the pandemic came to an end, 770 00:39:41,120 --> 00:39:43,840 brands started going outside for sampling. 771 00:39:43,960 --> 00:39:47,200 Using the same restaurant network through which we delivered food, 772 00:39:47,320 --> 00:39:50,240 we started virtual brands with 500 cloud kitchens. 773 00:39:56,320 --> 00:39:57,760 Were you the founder and CEO? 774 00:39:57,840 --> 00:39:58,960 I was the co-founder 775 00:39:59,040 --> 00:40:00,960 but I was looking after the growth and marketing. 776 00:40:01,000 --> 00:40:03,520 I exited that start-up by selling some secondary shares. 777 00:40:03,600 --> 00:40:05,480 - How much money did you make? - Rs. 20 crores. 778 00:40:05,560 --> 00:40:08,480 - Oh, my! Well done. - Nice. Well done. 779 00:40:08,880 --> 00:40:09,920 Why did you come to India? 780 00:40:10,040 --> 00:40:12,360 First of all, my fiancée was based in India. 781 00:40:12,440 --> 00:40:13,360 Okay. [laughs] 782 00:40:13,440 --> 00:40:15,920 He's smiling at the mention of his fiancée. Wow! 783 00:40:16,080 --> 00:40:17,080 She's my wife now. 784 00:40:18,040 --> 00:40:19,160 I had Rs. 20 crores 785 00:40:19,240 --> 00:40:20,280 and I'd always heard 786 00:40:20,400 --> 00:40:22,840 - that India was a great market to build something. - Come on! 787 00:40:22,920 --> 00:40:24,800 You came to India because your wife told you to. 788 00:40:24,880 --> 00:40:26,040 [all laugh] 789 00:40:26,840 --> 00:40:30,080 I had heard that Bengaluru was the Silicon Valley of India. 790 00:40:30,240 --> 00:40:31,600 So, I came to Bengaluru 791 00:40:31,680 --> 00:40:35,000 and started exploring a few things about what to do next. 792 00:40:35,880 --> 00:40:38,440 - I was in the UK working for a year. - Okay. 793 00:40:38,520 --> 00:40:40,640 Korean is a big thing there. 794 00:40:40,840 --> 00:40:42,960 There were many boba tea shops outside my apartment. 795 00:40:43,120 --> 00:40:45,320 We don't drink tea and coffee. Boba tea was our go-to thing. 796 00:40:45,320 --> 00:40:47,360 When I came to India, I saw that boba tea was available 797 00:40:47,400 --> 00:40:49,400 - but people were selling Taiwanese boba tea. - Right. 798 00:40:49,440 --> 00:40:52,000 I thought, why not Indianise boba tea and sell it here? 799 00:40:52,080 --> 00:40:53,320 But in India... 800 00:40:53,400 --> 00:40:55,040 This is a fairly new concept, right? 801 00:40:55,400 --> 00:40:57,520 How do you tell people about it? 802 00:40:57,600 --> 00:41:00,360 Events are our biggest strategy. 803 00:41:00,440 --> 00:41:02,240 We've done a lot of big events in India 804 00:41:02,360 --> 00:41:05,440 like the Ed Sheeran concert, Lollapalooza and Comic Con. 805 00:41:05,520 --> 00:41:07,040 - My audience attends those. - Hmm. 806 00:41:07,240 --> 00:41:09,480 Instagram is my go-to audience. 807 00:41:09,560 --> 00:41:11,640 Currently, we hold the highest market share. 808 00:41:12,200 --> 00:41:13,880 Boba tea in itself 809 00:41:13,960 --> 00:41:16,960 is a big agenda to explain to people and do events. 810 00:41:17,440 --> 00:41:18,960 You could've focused on just that. 811 00:41:19,040 --> 00:41:21,640 Once it reached a certain size, then you could've added snacks. 812 00:41:21,720 --> 00:41:24,720 Why did you want to sell snacks with it instantly? 813 00:41:24,800 --> 00:41:27,720 So, in India, we have tea and drinks with accompaniments. 814 00:41:28,440 --> 00:41:29,440 That was the concept. 815 00:41:29,520 --> 00:41:33,560 Those who launched before us ran bubble tea cafes. 816 00:41:33,680 --> 00:41:34,880 We took learnings from them. 817 00:41:34,960 --> 00:41:36,280 Unless it is paired with food... 818 00:41:36,360 --> 00:41:38,200 - Yours is a QSR model. - Exactly. 819 00:41:38,280 --> 00:41:39,320 - That's the reason. - Exactly. 820 00:41:39,360 --> 00:41:40,360 All right. 821 00:41:40,880 --> 00:41:42,440 How many SKUs do you have? 822 00:41:43,120 --> 00:41:46,000 - We have 20 SKUs in bubble tea. - Okay. 823 00:41:46,120 --> 00:41:47,240 And 15 burgers in total. 824 00:41:47,640 --> 00:41:50,680 - We launched ice creams just two weeks ago. - Okay. 825 00:41:50,760 --> 00:41:51,880 They come in seven flavours. 826 00:41:51,960 --> 00:41:53,920 What's the size of your outlets roughly? 827 00:41:54,040 --> 00:41:55,400 Our outlets are very small. 828 00:41:55,480 --> 00:41:57,400 150 to 200 square feet maximum. 829 00:42:10,040 --> 00:42:12,200 - I connected them with DLF. - Yes. 830 00:42:12,280 --> 00:42:13,080 - It's a big deal. - Okay. 831 00:42:13,200 --> 00:42:16,120 It's a big deal for any outlet to get space in DLF Mall. 832 00:42:16,200 --> 00:42:17,360 - They don't have space. - Yes. 833 00:42:17,400 --> 00:42:18,480 They have high footfalls 834 00:42:18,560 --> 00:42:20,280 - with good-quality audience. - Right. 835 00:42:20,360 --> 00:42:22,240 You don't have a standard look and feel. 836 00:42:23,880 --> 00:42:25,000 All of them are different. 837 00:42:26,240 --> 00:42:28,160 If you look at this one, it gives a purple vibe. 838 00:42:28,240 --> 00:42:31,360 I expected them to look like the one you had set up here, 839 00:42:31,440 --> 00:42:33,240 but one's orange and the other's blue. 840 00:42:34,920 --> 00:42:36,680 Those two outlets are in malls 841 00:42:36,760 --> 00:42:38,360 and we've to abide by their guidelines. 842 00:42:38,840 --> 00:42:41,240 You build a brand on consistency. 843 00:42:41,320 --> 00:42:44,000 Once we have some buying power, 844 00:42:44,080 --> 00:42:47,720 - we can tell the malls that this is what we want. - Got it. 845 00:42:48,000 --> 00:42:50,000 Where are the 40 outlets you currently have? 846 00:42:50,080 --> 00:42:52,600 They are in Bengaluru, Hyderabad, Chennai and Delhi. 847 00:42:56,200 --> 00:42:58,480 Just one commissary in Bengaluru as everything is ambient. 848 00:42:58,520 --> 00:43:00,680 - Is your outlet level assembly-only? - Yes. 849 00:43:05,920 --> 00:43:07,560 Ours is a dine-in and delivery. 850 00:43:07,640 --> 00:43:09,440 Dine-in is 15% and delivery is 85%. 851 00:43:09,520 --> 00:43:11,560 We started dine-in 2 to 3 months back. 852 00:43:11,680 --> 00:43:13,360 What's your vision in terms of QSR? 853 00:43:13,440 --> 00:43:16,720 If you want to make this a pan-India brand in future, 854 00:43:16,840 --> 00:43:18,800 how are you thinking about the QSR model? 855 00:43:18,880 --> 00:43:20,760 A lot of consumption is happening online nowadays. 856 00:43:20,760 --> 00:43:23,000 - My audience orders from Swiggy a lot. - Correct. 857 00:43:23,080 --> 00:43:24,920 The audience goes out on Saturdays and Sundays. 858 00:43:24,960 --> 00:43:26,800 They mostly visit bars, clubs and pubs. 859 00:43:26,920 --> 00:43:30,920 This is more a takeaway or a home delivery item. 860 00:43:31,000 --> 00:43:32,840 We don't want to spend too much money on CapEx. 861 00:43:38,280 --> 00:43:40,520 and they can generate a higher revenue per square foot. 862 00:43:40,600 --> 00:43:42,720 Only then, we'd be able to make a profitable business. 863 00:43:42,800 --> 00:43:44,160 This is our strategy. 864 00:43:44,240 --> 00:43:46,160 We always open a cloud kitchen first. 865 00:43:46,360 --> 00:43:47,200 The cloud kitchen... 866 00:43:47,280 --> 00:43:49,040 Take for example, our Koramangala store. 867 00:43:49,120 --> 00:43:51,640 It used to be a cloud kitchen which was converted later on. 868 00:43:51,720 --> 00:43:53,920 Once the cloud kitchen becomes profitable, 869 00:43:54,000 --> 00:43:56,360 only then we proceed lest we make the wrong decision. 870 00:43:56,480 --> 00:43:58,520 We open a physical outlet by investing Rs. 12 lakhs... 871 00:44:02,040 --> 00:44:03,600 This is the smartest thing he's done. 872 00:44:03,720 --> 00:44:05,280 Kunal invested in you. 873 00:44:05,680 --> 00:44:07,280 Did he find you or did you find him? 874 00:44:07,360 --> 00:44:09,760 Our first round happened in November. 875 00:44:09,840 --> 00:44:12,840 - How big was the round and... - Rs. 10 crores. 876 00:44:13,440 --> 00:44:15,080 - Rs. 10 crores straightaway. - Yes. 877 00:44:15,200 --> 00:44:16,320 - Valuation? - And valuation? 878 00:44:16,440 --> 00:44:17,680 Rs. 40 crores post money. 879 00:44:20,000 --> 00:44:21,520 Okay. How much did he invest? 880 00:44:21,600 --> 00:44:22,800 Rs. 3 crores. 881 00:44:25,120 --> 00:44:27,880 When you started... What month did you say it was? 882 00:44:27,960 --> 00:44:28,800 October. 883 00:44:28,880 --> 00:44:31,920 How could you get a valuation of Rs. 40 crores in just 2 months? 884 00:44:32,840 --> 00:44:34,720 Aman, I've built a QSR before. 885 00:44:34,800 --> 00:44:35,880 He's got a history of success. 886 00:44:35,920 --> 00:44:37,720 I'm a seasoned QSR entrepreneur. 887 00:44:39,400 --> 00:44:41,360 Tell us your revenue so we can understand the valuation. 888 00:44:41,360 --> 00:44:42,720 Rs. 40 lakhs in October. 889 00:44:42,960 --> 00:44:44,360 - First month? - Yes. 890 00:44:45,320 --> 00:44:47,320 How can it be Rs. 40 lakhs in the first month itself? 891 00:44:47,320 --> 00:44:49,080 Aman, I opened 5 cloud kitchens. 892 00:44:49,160 --> 00:44:51,240 I've done QSR before and run 500 cloud kitchens. 893 00:44:52,400 --> 00:44:53,480 And in November? 894 00:44:53,560 --> 00:44:55,520 Rs. 60 lakhs in November. 895 00:44:56,560 --> 00:44:59,360 - And you received funding in December. - Yes. 896 00:44:59,600 --> 00:45:01,600 You got Rs. 40 crores in just 2 months! 897 00:45:01,720 --> 00:45:02,520 I'm surprised! 898 00:45:02,600 --> 00:45:05,960 Don't investors think? They upped and gave you Rs 40 crores valuation! 899 00:45:06,040 --> 00:45:07,680 [laughter] 900 00:45:07,800 --> 00:45:09,000 Who else invested? 901 00:45:09,080 --> 00:45:10,880 Global Growth Capital, a UK-based fund. 902 00:45:10,960 --> 00:45:12,240 Your earlier investors. 903 00:45:12,320 --> 00:45:14,120 - Yes, they were. - Okay. Who else? 904 00:45:14,280 --> 00:45:15,640 Other than Arjun Vaidya, 905 00:45:15,720 --> 00:45:17,560 - Razorpay founders, Mars Shot guys. - Okay. 906 00:45:17,680 --> 00:45:19,400 Aakrit and Miten from Peercheque. 907 00:45:19,520 --> 00:45:21,520 - Mostly angel-type of funds. - Yes. 908 00:45:21,600 --> 00:45:24,200 - Did you raise another fund? - Yes, we did. 909 00:45:24,280 --> 00:45:25,120 How much? 910 00:45:25,200 --> 00:45:27,800 Rs. 30 crores at a post-money valuation of Rs. 110 crores. 911 00:45:32,800 --> 00:45:33,800 Whew! 912 00:45:34,840 --> 00:45:35,880 Who invested this time? 913 00:45:35,960 --> 00:45:38,880 Institutional investors 8i Fund, Titan Capital Winners Fund. 914 00:45:38,960 --> 00:45:39,800 Other than that, 915 00:45:39,880 --> 00:45:42,360 Global Growth Capital and DeVC Matrix. 916 00:45:43,360 --> 00:45:46,680 In 2023-24, you operated for 6 months. 917 00:45:46,960 --> 00:45:48,920 What did you close at? 918 00:45:49,000 --> 00:45:50,240 Rs. 5.2 crores. 919 00:45:50,600 --> 00:45:52,560 2024-25 year-to-date? 920 00:45:52,720 --> 00:45:54,200 Rs. 17 crores so far. 921 00:45:54,400 --> 00:45:57,160 - And projected sales? - Over Rs. 30 crores. 922 00:46:02,520 --> 00:46:03,520 Okay, it's not a lot. 923 00:46:03,520 --> 00:46:05,080 What was the burn per month last year? 924 00:46:05,160 --> 00:46:06,920 Last year, we burned Rs. 1.8 crores. 925 00:46:15,440 --> 00:46:17,200 - Negative. - Give us the unit economics 926 00:46:17,280 --> 00:46:18,920 so we can know what is causing the burn. 927 00:46:19,040 --> 00:46:21,360 - Our gross margin is 65%. - Okay. 928 00:46:21,640 --> 00:46:23,120 Rent is 8%. 929 00:46:24,040 --> 00:46:25,600 Salaries is 12 to 13%. 930 00:46:25,760 --> 00:46:27,680 - We get a commission from Swiggy. - How much? 931 00:46:27,920 --> 00:46:30,640 16 to 17% from dine-in and delivery combined. 932 00:46:30,760 --> 00:46:32,600 - Okay. - At the store level, we get 20%. 933 00:46:32,920 --> 00:46:35,280 Plus another 7 to 8% on performance marketing. 934 00:46:35,360 --> 00:46:37,600 - You're left with 20% after that. - Yes, 20%. 935 00:46:37,760 --> 00:46:38,960 Where do you spend that? 936 00:46:39,040 --> 00:46:42,200 Out of 20%, 10% is spent on brand marketing. 937 00:46:42,320 --> 00:46:43,840 - The rest? - Corporate expenses. 938 00:46:43,920 --> 00:46:45,600 - What corporate expenses? - Salaries. 939 00:46:45,840 --> 00:46:47,200 What's your salary, Dhruv? 940 00:46:47,280 --> 00:46:48,800 I take Rs. 2.5 lakhs per month. 941 00:46:48,880 --> 00:46:50,400 Who's the highest-paid person? 942 00:46:50,520 --> 00:46:52,240 The highest-paid is about Rs. 42 lakhs a year. 943 00:46:52,280 --> 00:46:54,360 - Who is he? Why that much? - He's my VP of Operations. 944 00:46:54,360 --> 00:46:55,400 - Operations Head. - Okay. 945 00:46:55,480 --> 00:46:57,320 - He manages all your stores. - Yes. 946 00:46:57,400 --> 00:46:59,440 You're doing absolutely the right thing. 947 00:47:00,040 --> 00:47:02,000 I think a restaurant chain is only as strong 948 00:47:02,080 --> 00:47:03,760 - as its Operations Head. - Exactly. 949 00:47:03,880 --> 00:47:05,680 So, a very good idea. Spending more... 950 00:47:05,760 --> 00:47:08,320 And I'm happy you pay him more than yourself. 951 00:47:08,400 --> 00:47:09,560 It's really important. 952 00:47:09,640 --> 00:47:10,920 Exactly, because I believe 953 00:47:11,000 --> 00:47:13,920 - you need a strong team to build a strong foundation. - Yes. 954 00:47:14,000 --> 00:47:15,000 You're a player. 955 00:47:15,920 --> 00:47:17,120 [laughs] 956 00:47:17,200 --> 00:47:18,040 Boba Bhai! 957 00:47:18,120 --> 00:47:19,800 Sir, I learned it from you after watching Shark Tank. 958 00:47:19,800 --> 00:47:20,800 [laughter] 959 00:47:20,960 --> 00:47:22,480 You brought so many investors on board. 960 00:47:22,480 --> 00:47:25,720 You got a valuation of Rs 170 crores in one year. 961 00:47:25,800 --> 00:47:27,600 Look at his track record. 962 00:47:27,680 --> 00:47:30,280 - Rs. 1 crore... - Serial entrepreneur. 963 00:47:30,360 --> 00:47:31,160 Well done. 964 00:47:31,280 --> 00:47:32,680 - Thank you. - You understand money. 965 00:47:34,040 --> 00:47:36,520 You understand business. It's dirty, but it's business. 966 00:47:37,160 --> 00:47:40,600 Why'd you come here? What can you get from the Sharks? 967 00:47:40,760 --> 00:47:43,400 - See, I've built businesses outside India. - Yes. 968 00:47:43,480 --> 00:47:44,880 This is my first business in India. 969 00:47:45,000 --> 00:47:47,600 I want to make it big in India and make it global. 970 00:47:47,680 --> 00:47:49,000 That's a great point. 971 00:47:49,080 --> 00:47:52,160 You've worked in the Indian and global markets. 972 00:47:52,400 --> 00:47:54,680 How do the food industries differ? 973 00:47:54,760 --> 00:47:56,640 Doing business overseas is much easier. 974 00:47:56,720 --> 00:47:58,320 You get licenses quickly. 975 00:47:58,400 --> 00:47:59,400 The requirement is less. 976 00:47:59,520 --> 00:48:01,120 In India, everything takes time. 977 00:48:01,240 --> 00:48:02,800 The environment overseas is structured. 978 00:48:02,880 --> 00:48:04,600 The structure is just coming to India. 979 00:48:04,680 --> 00:48:06,320 The AOV there is very high. 980 00:48:06,640 --> 00:48:08,400 It's a fight here! 981 00:48:08,520 --> 00:48:09,760 The AOV there is in pounds. 982 00:48:09,840 --> 00:48:11,560 It could go to Rs. 3,000. 983 00:48:11,680 --> 00:48:14,080 Here, you're working around an AOV of Rs. 350 to 400. 984 00:48:14,160 --> 00:48:15,680 Customers in India are very demanding. 985 00:48:15,800 --> 00:48:17,280 How do the tastes differ? 986 00:48:17,360 --> 00:48:20,960 In India, the taste changes every 5 to 10 km. 987 00:48:21,040 --> 00:48:23,080 - Correct. - Let's talk about Bengaluru. 988 00:48:23,320 --> 00:48:26,360 J P Nagar prefers a certain taste and HSR, a different one. 989 00:48:26,520 --> 00:48:27,800 How do you tackle this? 990 00:48:27,880 --> 00:48:29,080 We go city-wise. 991 00:48:29,200 --> 00:48:32,640 In Hyderabad and Chennai, the food is spicier. 992 00:48:32,720 --> 00:48:35,760 If it's Delhi, the food has to be kept non-spicy. 993 00:48:35,880 --> 00:48:37,120 Delhi offers more veg options 994 00:48:37,200 --> 00:48:39,000 whereas in Hyderabad and Chennai, non-veg is... 995 00:48:39,080 --> 00:48:41,680 - And what does Boba Bhai do differently? - Bubble teas. 996 00:48:41,760 --> 00:48:44,920 It's simple. For instance, Mango Chilli and Jamun Kala Khatta 997 00:48:45,000 --> 00:48:46,640 are flavours that do well in the North. 998 00:48:46,760 --> 00:48:49,240 Similarly, Tender Coconut and Tangy Kokum 999 00:48:49,320 --> 00:48:50,680 do well in the South. 1000 00:48:51,600 --> 00:48:52,400 Be honest. 1001 00:48:52,480 --> 00:48:54,720 You spend Rs. 3 crores a year on your brand. 1002 00:48:55,120 --> 00:48:56,560 - You mentioned 10%. - Yes. 1003 00:48:56,680 --> 00:49:00,560 In a way, you're using Rs. 50 lakhs for branding. 1004 00:49:00,840 --> 00:49:03,800 Give us equity for Rs. 1 crore in lieu of branding. 1005 00:49:03,880 --> 00:49:06,120 The ask is not just the money, but expertise as well. 1006 00:49:06,240 --> 00:49:07,160 Who'd agree? 1007 00:49:07,240 --> 00:49:10,080 For 0.3%, I wouldn't even move my chair! 1008 00:49:12,320 --> 00:49:13,400 Why do you think 1009 00:49:13,480 --> 00:49:15,000 that for 0.3% 1010 00:49:15,200 --> 00:49:18,520 someone would invest their time and work closely with you? 1011 00:49:19,200 --> 00:49:22,600 You could increase the amount and take a bigger stake. 1012 00:49:22,680 --> 00:49:24,080 Okay, got it. 1013 00:49:25,880 --> 00:49:26,880 I'm out. 1014 00:49:27,160 --> 00:49:29,720 I think you don't need my money. 1015 00:49:31,240 --> 00:49:34,880 I want to give my money and time to someone who needs it. 1016 00:49:35,080 --> 00:49:37,320 You already have so many investors, if I come on board too, 1017 00:49:37,360 --> 00:49:39,560 the equity will be negligible! [clicks tongue] 1018 00:49:39,760 --> 00:49:41,280 I'd rather invest a few crores 1019 00:49:41,360 --> 00:49:43,400 and start this business with someone! 1020 00:49:45,520 --> 00:49:46,560 Unfortunately, I'm out. 1021 00:49:47,040 --> 00:49:48,040 Thanks, Aman. 1022 00:49:49,640 --> 00:49:51,440 I like your product. 1023 00:49:52,000 --> 00:49:53,000 I am in. 1024 00:49:53,280 --> 00:49:54,400 I would like to invest 1025 00:49:54,480 --> 00:49:57,560 Rs. 90 lakhs for 1% equity. 1026 00:50:00,960 --> 00:50:02,160 Here's my problem, man. 1027 00:50:02,240 --> 00:50:05,160 I think long-term differentiation is very hard. 1028 00:50:05,920 --> 00:50:06,920 Viraj! 1029 00:50:07,440 --> 00:50:11,000 I'm not clear whether the Korean culture now is faddish 1030 00:50:11,200 --> 00:50:12,640 or it is here to stay. 1031 00:50:13,880 --> 00:50:17,800 Secondly, the investment and return economics 1032 00:50:18,400 --> 00:50:20,440 makes no sense at all. 1033 00:50:21,960 --> 00:50:23,640 Negotiate as hard as I may, 1034 00:50:24,080 --> 00:50:25,880 all I'm going to get is 1 or 2%. 1035 00:50:27,760 --> 00:50:29,720 So, I'm out. Good luck. 1036 00:50:31,160 --> 00:50:34,120 Usually, QSR doesn't excite me a lot 1037 00:50:34,240 --> 00:50:37,240 but I read a statistic that got me really excited. 1038 00:50:38,040 --> 00:50:42,720 In the US, there are 75 food brands 1039 00:50:43,000 --> 00:50:45,400 with more than 500 outlets. 1040 00:50:45,520 --> 00:50:47,840 Do you know what that number is in India, per brand? 1041 00:50:48,040 --> 00:50:49,920 - I think less than 10. - 5. 1042 00:50:50,240 --> 00:50:52,840 And given that Indians are foodies, 1043 00:50:53,200 --> 00:50:56,720 this market is such that there is scope for a lot more. 1044 00:50:56,960 --> 00:50:59,440 Dhruv, the bottom line is you will have to start chains. 1045 00:50:59,520 --> 00:51:01,400 - Yes, 100%. - There is scope for more players 1046 00:51:01,720 --> 00:51:04,040 - to become branded chains. - Agreed. 1047 00:51:04,240 --> 00:51:07,600 I'd like to collaborate with Viraj on his offer. 1048 00:51:08,560 --> 00:51:11,760 Our offer is Rs. 90 lakhs for 1% equity. 1049 00:51:12,360 --> 00:51:13,400 But I've convinced him, 1050 00:51:13,480 --> 00:51:15,480 because I'm a Shark and he's new, 1051 00:51:15,840 --> 00:51:17,280 to take royalty from you. 1052 00:51:19,520 --> 00:51:21,200 Once you get profitable, 1053 00:51:21,280 --> 00:51:24,320 we will take 0.5% of sales as royalty 1054 00:51:30,120 --> 00:51:32,360 Thank you, Sharks, for the offer. I have a counter offer. 1055 00:51:32,440 --> 00:51:33,440 Yes. 1056 00:51:35,040 --> 00:51:36,440 I can't give you royalty. 1057 00:51:50,880 --> 00:51:53,280 No! If we won't take royalty, 1058 00:51:53,440 --> 00:51:55,720 we had thought of taking a higher equity. 1059 00:51:57,240 --> 00:51:59,120 We can't face the double whammy 1060 00:51:59,200 --> 00:52:01,640 of not taking royalty and higher valuation. 1061 00:52:01,720 --> 00:52:03,840 Look, we're going to be a big company. 1062 00:52:04,000 --> 00:52:05,840 Why are you refusing to give royalty? 1063 00:52:05,920 --> 00:52:07,160 It's because Kunal forbade you. 1064 00:52:07,240 --> 00:52:08,160 [laughter] 1065 00:52:08,240 --> 00:52:09,240 I haven't spoken to him, 1066 00:52:09,320 --> 00:52:12,000 - but all smart founders know. - Okay. 1067 00:52:12,400 --> 00:52:14,640 My investors won't agree to give royalty. 1068 00:52:16,760 --> 00:52:18,760 You're very honest, we like that. 1069 00:52:19,400 --> 00:52:22,000 - So, we'll give you equity instead. - Okay. 1070 00:52:22,080 --> 00:52:23,560 Rs. 90 lakhs for 1% equity. 1071 00:52:23,640 --> 00:52:25,200 We are not going to budge. 1072 00:52:26,440 --> 00:52:28,080 We bring value, you know. 1073 00:52:28,160 --> 00:52:31,320 And he's the food king of India! 1074 00:52:35,600 --> 00:52:36,600 Sharks, deal closed. 1075 00:52:44,680 --> 00:52:46,480 Look, you got the food king on board! 1076 00:52:46,600 --> 00:52:48,680 'I didn't expect to receive a deal from two Sharks.' 1077 00:52:48,800 --> 00:52:50,520 'Having Viraj on board,' 1078 00:52:50,600 --> 00:52:53,000 especially his expertise in food from Veeba, 1079 00:52:53,120 --> 00:52:54,680 will help us a great deal going forward. 1080 00:52:54,680 --> 00:52:56,000 Boba! Veeba! 1081 00:52:56,080 --> 00:52:57,520 - It even rhymes. - Oh, rhymes also. 1082 00:52:57,640 --> 00:52:59,360 Well, it's luck. 1083 00:52:59,560 --> 00:53:00,920 - Congratulations. - Thank you. 1084 00:53:01,320 --> 00:53:03,360 Kunal, we finally have one company together! 1085 00:53:03,560 --> 00:53:06,000 Bahl and Bahl. Bahl & Brothers! 1086 00:53:06,080 --> 00:53:07,320 Well done, good deal. 1087 00:53:07,840 --> 00:53:09,080 Bad miss for others. 1088 00:53:10,800 --> 00:53:12,200 [mouthing words] 1089 00:53:13,520 --> 00:53:14,560 'Tell us about this.' 1090 00:53:14,640 --> 00:53:17,440 How has your experience been with the founder and the company? 1091 00:53:17,520 --> 00:53:18,520 He's a very... 1092 00:53:18,640 --> 00:53:20,840 You know, those extraordinary founders? 1093 00:53:21,200 --> 00:53:22,200 He's one of them. 1094 00:53:22,240 --> 00:53:23,320 Look at the traction. 1095 00:53:23,400 --> 00:53:26,040 If you look at boba tea in the West, it's completely commoditised. 1096 00:53:26,160 --> 00:53:29,160 - Some things are a fad and then their demand drops. - Hmm. 1097 00:53:29,400 --> 00:53:30,760 This was also a fad, 1098 00:53:31,000 --> 00:53:32,840 - it's hit escape velocity now. - Hmm. 1099 00:53:32,920 --> 00:53:33,920 China has 1100 00:53:33,960 --> 00:53:37,360 - at least two multi-billion dollar companies of boba. - Boba. 1101 00:53:37,520 --> 00:53:38,520 Okay. 1102 00:53:38,760 --> 00:53:39,760 Good deal! 1103 00:53:39,800 --> 00:53:43,280 That means it was a great deal as validated by Mr. Kunal Bahl. 1104 00:53:43,360 --> 00:53:44,560 I'm glad he told us that. 1105 00:53:44,640 --> 00:53:46,840 - We'll start a boba company... - That's what I was saying. 1106 00:53:46,880 --> 00:53:49,080 - Let's invest a few crores. - Rs. 2 to 3 crores. 1107 00:53:49,200 --> 00:53:50,480 We'll own 20% each. 1108 00:53:50,560 --> 00:53:52,560 - I know. - Management gets 60%. 1109 00:53:52,680 --> 00:53:55,040 - A-pop! Aman and Anupam! - A-pop! 1110 00:53:55,160 --> 00:53:56,520 Oh, yes! A-pop! 1111 00:53:56,640 --> 00:53:57,920 - A-pop! - [laughter] 1112 00:53:58,360 --> 00:54:00,440 - Hello, Dhruv. - Hello, Ashish. How are you? 1113 00:54:00,520 --> 00:54:03,200 - Welcome to our PokerBaazi zone where you hold the cards. - Thanks. 1114 00:54:03,200 --> 00:54:05,360 - How was your experience? - Great, it was exciting. 1115 00:54:07,680 --> 00:54:09,200 No, I was totally 'daebak'! 1116 00:54:09,280 --> 00:54:10,360 [laughs] 1117 00:54:10,680 --> 00:54:13,080 You must exude confidence! 1118 00:54:41,240 --> 00:54:42,840 The first is the introduction phase. 1119 00:54:42,960 --> 00:54:45,480 Then the growth phase and the last one is maturity. 1120 00:54:45,600 --> 00:54:47,600 For our audiences at home, 1121 00:54:47,680 --> 00:54:51,880 please share a story relating to any of these phases. 1122 00:54:51,960 --> 00:54:54,000 - I find the growth phase really exciting. - Hmm. 1123 00:54:54,080 --> 00:54:55,600 Our company is just a year old. 1124 00:54:55,960 --> 00:54:58,360 - So, our introduction phase was quite small. - Yes. 1125 00:54:58,440 --> 00:55:00,960 We've seen growth since day thirty. 1126 00:55:01,120 --> 00:55:03,680 And I feel that the fun in the growth stage 1127 00:55:03,800 --> 00:55:07,280 outdoes that of the introduction and maturity phases 1128 00:55:07,360 --> 00:55:09,680 because you come across problems in the growth stage 1129 00:55:09,760 --> 00:55:11,720 - that you need to figure out on your own. - Okay. 1130 00:55:11,760 --> 00:55:14,760 You keep learning over time, and that's really exciting. 1131 00:55:14,840 --> 00:55:16,920 Very interesting. Thank you so much for sharing that. 1132 00:55:17,160 --> 00:55:18,440 I was just looking at the cards. 1133 00:55:43,040 --> 00:55:44,640 Go and download the PokerBaazi app now. 1134 00:55:44,760 --> 00:55:46,280 [upbeat music playing] 1135 00:55:50,560 --> 00:55:51,960 [music fades] 1136 00:55:52,840 --> 00:55:54,360 Weren't you about to change the screen? 1137 00:55:58,840 --> 00:56:00,480 You want to bring about worthless changes. 1138 00:56:00,560 --> 00:56:02,720 If you want to make a change, make sure it's worthwhile 1139 00:56:02,800 --> 00:56:04,000 like the one ACKO made 1140 00:56:04,240 --> 00:56:07,720 in the insurance landscape with its revolutionary offerings. 1141 00:56:07,920 --> 00:56:10,000 Don't fall for false claims made by agents. 1142 00:56:10,120 --> 00:56:13,160 Know your insurer and trust ACKO. 1143 00:56:13,240 --> 00:56:15,040 It is the trusted choice of lakhs of Indians 1144 00:56:15,120 --> 00:56:17,680 and has settled over 3 lakh car claims. 1145 00:56:17,760 --> 00:56:19,600 So, go and download the ACKO app now. 1146 00:56:20,000 --> 00:56:21,880 [theme music playing] 1147 00:56:39,160 --> 00:56:41,040 [theme music fades] 1148 00:56:47,440 --> 00:56:50,440 Sharks, before talking about our brand, 1149 00:56:50,520 --> 00:56:53,040 we want to talk about the present-day consumers. 1150 00:56:53,760 --> 00:56:56,000 They don't want to be lost in the crowd, 1151 00:56:56,120 --> 00:56:58,080 but on the contrary, wish to stand out. 1152 00:56:58,360 --> 00:56:59,880 They are not black or white, 1153 00:57:00,040 --> 00:57:01,960 their personalities are really colourful 1154 00:57:02,200 --> 00:57:04,920 and over and above that, they're all out there 1155 00:57:05,120 --> 00:57:08,960 be it their social media posts or their fits of the day! 1156 00:57:09,240 --> 00:57:12,120 And it's just not restricted to their clothes. 1157 00:57:12,440 --> 00:57:15,000 Understanding these very sensibilities 1158 00:57:15,120 --> 00:57:18,600 is as easy for us as our effortless footwork 1159 00:57:19,320 --> 00:57:20,520 at Hexafun! 1160 00:57:22,480 --> 00:57:24,560 Hexafun is a lifestyle accessory brand 1161 00:57:30,040 --> 00:57:34,360 Why spoil your airport look with that boring black suitcase 1162 00:57:34,440 --> 00:57:38,040 when you can use a funky luggage cover? 1163 00:57:38,360 --> 00:57:41,240 Why wrap your gym shoes in a polythene bag 1164 00:57:41,360 --> 00:57:44,080 when you can use these shoe covers? 1165 00:57:44,560 --> 00:57:47,840 By the way, people have forgotten to use hankies. 1166 00:57:47,960 --> 00:57:48,880 And why wouldn't they? 1167 00:57:48,960 --> 00:57:51,400 They don't suit their personalities after all! 1168 00:57:51,720 --> 00:57:52,760 But no worries 1169 00:57:52,840 --> 00:57:54,680 because we've got handkerchiefs 1170 00:57:54,760 --> 00:57:57,320 that complement each of your personalities 1171 00:57:57,720 --> 00:57:59,400 that are unique in design 1172 00:57:59,480 --> 00:58:02,480 and can be styled anyhow you want, 1173 00:58:02,560 --> 00:58:05,560 just as I styled mine on my belt loop. 1174 00:58:06,200 --> 00:58:08,960 All our products are 97% fashionable, 1175 00:58:09,280 --> 00:58:12,120 3% sassy and 100% sustainable. 1176 00:58:13,920 --> 00:58:17,040 We started Hexafun with handkerchiefs and socks 1177 00:58:17,200 --> 00:58:21,000 and today in 6 categories, through over 10 lakh products, 1178 00:58:21,120 --> 00:58:24,640 we've managed to unhide the fun side of our customers. 1179 00:58:24,800 --> 00:58:28,960 We want to make Hexafun India's funkiest lifestyle brand. 1180 00:58:29,120 --> 00:58:33,800 Our ask is Rs. 1 crore for 4% equity in our company. 1181 00:58:34,960 --> 00:58:35,960 So, Sharks! 1182 00:58:36,040 --> 00:58:38,560 Are you ready to look beyond basic clothing? 1183 00:58:38,640 --> 00:58:41,280 Because it's the little details that matter. 1184 00:58:43,400 --> 00:58:44,480 Manali and Harshit! 1185 00:58:44,560 --> 00:58:46,600 Welcome to Shark Tank India Season 4! 1186 00:58:57,320 --> 00:59:00,680 After that, I did a post graduation in Mass Media 1187 00:59:00,760 --> 00:59:03,320 and my specialisation was Advertising. 1188 00:59:04,080 --> 00:59:05,520 In the last 13 years, 1189 00:59:05,600 --> 00:59:08,920 I've worked with advertising, marketing and branding firms 1190 00:59:09,000 --> 00:59:11,320 on leading FMCG brands. 1191 00:59:16,440 --> 00:59:19,480 I'm 31 and belong to a business family from Delhi. 1192 00:59:19,720 --> 00:59:22,160 I did my schooling and graduation in Delhi 1193 00:59:22,320 --> 00:59:24,560 and moved to Mumbai to do my MBA. 1194 00:59:24,720 --> 00:59:26,480 I've been in Mumbai for the last 10 years. 1195 00:59:26,720 --> 00:59:28,560 Out of eight years of my corporate career, 1196 00:59:28,640 --> 00:59:31,400 I spent seven with India's leading retail group. 1197 00:59:31,520 --> 00:59:32,360 Which one? 1198 00:59:32,440 --> 00:59:34,120 - I worked with Future Group, sir. - Hmm. 1199 00:59:34,240 --> 00:59:36,240 I first worked in their FMCG division 1200 00:59:36,320 --> 00:59:37,640 and then in the founder's office. 1201 00:59:37,760 --> 00:59:40,600 I, then, built a start-up for them from scratch 1202 00:59:40,800 --> 00:59:43,000 which was in the space of kids' furniture and decor. 1203 00:59:43,120 --> 00:59:44,160 What became of it? 1204 00:59:44,240 --> 00:59:46,280 It's running. It's all there. 1205 00:59:46,360 --> 00:59:47,440 How big was it? 1206 00:59:47,560 --> 00:59:49,320 I took it to a Rs. 10-crore ARR. 1207 00:59:49,440 --> 00:59:51,440 Did you meet her when you came to Mumbai? 1208 00:59:51,520 --> 00:59:53,680 No. We actually met in 2018. 1209 00:59:53,800 --> 00:59:57,320 When I was heading marketing for FMCG Foods at Future Consumer, 1210 00:59:57,480 --> 00:59:58,920 that's when Manali joined us. 1211 00:59:59,000 --> 01:00:01,400 We were on the same team for two years. 1212 01:00:01,520 --> 01:00:05,040 Both of us are quite passionate about brand building. 1213 01:00:05,160 --> 01:00:07,160 We're both strongly opinionated. 1214 01:00:07,280 --> 01:00:11,440 So, we had quite a healthy, you could call it competition 1215 01:00:11,520 --> 01:00:13,560 or bickering. 1216 01:00:13,640 --> 01:00:15,280 That's when we became friends. 1217 01:00:15,360 --> 01:00:18,160 When it came to starting Hexafun, we collaborated. 1218 01:00:18,760 --> 01:00:20,680 They say that a girl and a boy can't be friends. 1219 01:00:20,760 --> 01:00:21,840 You're just friends, right? 1220 01:00:22,640 --> 01:00:23,920 - Yes. We're friends, sir. - Yes. 1221 01:00:24,040 --> 01:00:25,840 - We are friends. - Who said it? 1222 01:00:25,920 --> 01:00:27,360 - 'Maine Pyar Kiya.' - 'Maine Pyar Kiya.' 1223 01:00:27,400 --> 01:00:29,120 - 'Maine Pyar Kiya.' - I did not know. 1224 01:00:29,200 --> 01:00:30,480 I'm married. [laughs] 1225 01:00:30,560 --> 01:00:31,560 Oh, sorry. 1226 01:00:31,680 --> 01:00:32,880 [all laugh] 1227 01:00:33,040 --> 01:00:35,600 Did you not wear shoes just to show us the socks? 1228 01:00:35,680 --> 01:00:38,080 You can have fun in socks. You don't need shoes. 1229 01:00:38,160 --> 01:00:39,880 Is this your hero SKU? 1230 01:00:39,960 --> 01:00:42,520 Socks and hankies make up 85% of our total sales. 1231 01:00:46,880 --> 01:00:48,240 ...and come from the brand world, 1232 01:00:48,400 --> 01:00:51,560 - that looks to me like a beaker used in a lab... - Yes. 1233 01:00:51,640 --> 01:00:56,640 - Hexa generally conjures up images of physics or... - Right. 1234 01:00:56,720 --> 01:00:58,160 So, what's going on here? 1235 01:00:58,240 --> 01:01:00,080 These are lifestyle products. 1236 01:01:00,640 --> 01:01:02,920 When we started this brand, 1237 01:01:03,000 --> 01:01:05,160 - the first product... - When did you start it? 1238 01:01:05,240 --> 01:01:07,400 In March 2021. 1239 01:01:07,520 --> 01:01:09,480 When we started it, 1240 01:01:09,560 --> 01:01:12,920 the first product that came to our mind was a handkerchief. 1241 01:01:13,120 --> 01:01:17,080 We thought since we were making boring things fun 1242 01:01:17,160 --> 01:01:19,560 and making people experiment, 1243 01:01:19,640 --> 01:01:22,440 - we ought to add the beaker... - Oh! 1244 01:01:22,520 --> 01:01:23,920 To our logo. 1245 01:01:24,080 --> 01:01:25,400 You'll keep explaining. 1246 01:01:26,200 --> 01:01:29,120 - Yes, stretch... - You'll keep explaining this all your lives. 1247 01:01:29,240 --> 01:01:32,560 Great logos and brands are which you get right away. 1248 01:01:32,640 --> 01:01:34,880 - This has stretched out... - Okay. 1249 01:01:35,000 --> 01:01:36,320 The feeling I'm getting is 1250 01:01:36,440 --> 01:01:40,920 - that it is some kids' Science EdTech company. - Okay. 1251 01:01:41,040 --> 01:01:43,320 I always give Zerodha's example. 1252 01:01:43,960 --> 01:01:46,640 "Zero" borrowed from zero brokerage or zero flat fees 1253 01:01:47,000 --> 01:01:49,960 and "rodha", which in Sanskrit means hurdles. 1254 01:01:50,040 --> 01:01:52,680 - Means removing the obstacles in stock broking. - Okay. 1255 01:01:52,800 --> 01:01:55,320 So, "Zerodha"! It's such a beautiful word. 1256 01:01:55,440 --> 01:01:58,240 - It can be explained and connected to their business. - Right. 1257 01:01:58,320 --> 01:02:02,680 Your beacon and accessories are not even remotely connected. 1258 01:02:02,800 --> 01:02:04,600 I think they made a very valid point. 1259 01:02:04,680 --> 01:02:05,680 Fair enough. 1260 01:02:07,480 --> 01:02:08,880 Have you brought any gifts for us? 1261 01:02:08,960 --> 01:02:10,120 - Yes. - Show us. 1262 01:02:11,160 --> 01:02:12,600 I was just joking. 1263 01:02:12,680 --> 01:02:14,360 It doesn't mean you won't give me gifts! 1264 01:02:14,520 --> 01:02:15,880 [laughter] 1265 01:02:16,040 --> 01:02:17,120 This is especially for you. 1266 01:02:17,160 --> 01:02:18,960 They'll get upset and leave! 1267 01:02:19,080 --> 01:02:20,080 Oh my God! 1268 01:02:20,240 --> 01:02:23,520 I've got pharma written on my socks. How cool! 1269 01:02:25,240 --> 01:02:26,600 What have they written on yours? 1270 01:02:26,720 --> 01:02:28,680 Oh, my! This is really nice. 1271 01:02:28,880 --> 01:02:31,320 "You're a great guy." Nice! 1272 01:02:31,560 --> 01:02:33,200 'We Can Do It Too' 1273 01:02:34,080 --> 01:02:36,560 This is good. You chose some good lines. I love you. 1274 01:02:36,640 --> 01:02:38,240 Where did 'love guru' come from? 1275 01:02:38,320 --> 01:02:39,360 [laughs] 1276 01:02:39,440 --> 01:02:41,520 - I gave you the moniker, remember? - It's right. 1277 01:02:41,600 --> 01:02:43,600 You'll see this in my next ad. 1278 01:02:43,680 --> 01:02:45,840 Vibe check. Veeba check. Thank you very much. 1279 01:02:46,720 --> 01:02:47,760 You made one mistake. 1280 01:02:47,840 --> 01:02:49,640 Can you see what the mistake is in this? 1281 01:02:51,080 --> 01:02:52,840 You misspelt "cluttered". 1282 01:02:53,640 --> 01:02:54,640 - Cluttered is cluttered. - Yes. 1283 01:02:54,680 --> 01:02:55,520 - Right? - Right. 1284 01:02:55,600 --> 01:02:57,120 Attention to detail 1285 01:02:57,360 --> 01:02:59,480 - is very important in any business. - Fair enough, ma'am. Sorry. 1286 01:02:59,520 --> 01:03:01,000 - It's our... - Now, do 10 sit-ups. 1287 01:03:01,080 --> 01:03:02,880 [laughter] 1288 01:03:02,960 --> 01:03:05,440 The quality of the products is also quite good. 1289 01:03:05,520 --> 01:03:08,360 All our products are made of organic cotton and bamboo. 1290 01:03:18,640 --> 01:03:21,160 what sells in India as well as globally 1291 01:03:21,240 --> 01:03:23,200 and how we can make the quality better. 1292 01:03:23,320 --> 01:03:26,560 Which is why the socks that you see are made of bamboo. 1293 01:03:26,640 --> 01:03:29,320 We've used spandex in place of nylon 1294 01:03:29,440 --> 01:03:32,880 so you get the maximum stretchability and comfort. 1295 01:03:33,000 --> 01:03:36,360 So, your raw-material sourcing is your quality check. 1296 01:03:36,440 --> 01:03:39,720 After that, you can give it to any third-party manufacturer. 1297 01:03:39,800 --> 01:03:42,480 - So, what we do is buy our own raw materials. - Okay. 1298 01:03:42,560 --> 01:03:44,720 The specialised tasks 1299 01:03:44,920 --> 01:03:48,400 - like printing or knitting are outsourced by us. - Okay. 1300 01:03:48,520 --> 01:03:52,720 And then, the final packing and QC check is done on our end. 1301 01:03:53,800 --> 01:03:57,600 Do people even use handkerchiefs in this day and age? 1302 01:03:59,040 --> 01:04:00,120 Is it a hanky or a scarf 1303 01:04:00,280 --> 01:04:01,640 - that you normally sell as a hanky? - A hanky. 1304 01:04:01,640 --> 01:04:03,440 It's a hanky, you can style it as you wish. 1305 01:04:03,520 --> 01:04:05,360 But who uses hankies now? Do people use it? 1306 01:04:05,480 --> 01:04:08,040 That was the question that made us start manufacturing the handkerchiefs. 1307 01:04:08,040 --> 01:04:09,920 There is a movie, 'The Intern.' 1308 01:04:10,040 --> 01:04:12,280 - Yes, in that he says... - He says that, 1309 01:04:12,400 --> 01:04:15,360 'The new generation does not understand the importance of a hanky.' 1310 01:04:15,440 --> 01:04:17,120 We did our research and asked people. 1311 01:04:17,240 --> 01:04:20,440 Everyone said that hankies are uncool, 1312 01:04:20,520 --> 01:04:22,800 and old school. Our moms and dads used it. 1313 01:04:22,880 --> 01:04:25,640 - It had flowers and leaves on it. We don't use it. - Yes. 1314 01:04:25,720 --> 01:04:27,280 That's when we thought 1315 01:04:27,400 --> 01:04:31,720 that fashion is everywhere, from clothing to accessories. 1316 01:04:31,800 --> 01:04:33,640 Our highest-selling pack 1317 01:04:33,720 --> 01:04:36,440 is not a pack of three, six, nine or twelve. 1318 01:04:36,520 --> 01:04:38,560 We have a 30-day, 30-hanky pack. 1319 01:04:38,640 --> 01:04:41,720 A customer comes to our site and buys that on their first visit. 1320 01:04:41,840 --> 01:04:45,080 We spoke to them and everyone's reaction was 1321 01:04:45,160 --> 01:04:47,640 'We never thought a hanky could be like this.' 1322 01:04:47,760 --> 01:04:50,560 'This is very cool and I want to carry it with me.' 1323 01:04:50,640 --> 01:04:53,520 No, no... Hold on. If you see the traditional use 1324 01:04:53,600 --> 01:04:56,360 - of a hanky, people would keep it in their pockets. - Right. 1325 01:04:56,440 --> 01:04:58,160 - And they used it to clean their sweat. - Yes. - Right. 1326 01:04:58,200 --> 01:05:01,760 - But these don't look like people would use it that way. - Right. 1327 01:05:03,320 --> 01:05:06,640 We are not positioning them only as hankies. 1328 01:05:06,720 --> 01:05:09,040 Then these are small scarves, not handkerchiefs. 1329 01:05:10,520 --> 01:05:13,600 - And you won't even feel like using it to clean your nose. - Yes. 1330 01:05:13,680 --> 01:05:15,240 They don't look very absorbent. 1331 01:05:17,040 --> 01:05:18,320 What's your price point? 1332 01:05:18,440 --> 01:05:21,880 A pack of three hankies is for Rs 349. 1333 01:05:22,320 --> 01:05:24,120 - How much is this? - This is Rs 699. 1334 01:05:24,200 --> 01:05:26,120 There are seven hankies for Rs 699. 1335 01:05:30,760 --> 01:05:32,440 There are mass premium brands in the market. 1336 01:05:32,440 --> 01:05:34,520 Like Van Heusen or Jockey. 1337 01:05:34,600 --> 01:05:38,080 They are almost the same price or we are 10% premium price more than them. 1338 01:05:38,160 --> 01:05:39,760 But they have white hankies. 1339 01:05:39,840 --> 01:05:42,200 They have white or maximum navy blue, 1340 01:05:42,280 --> 01:05:45,400 beige or with checkered lines. 1341 01:05:45,800 --> 01:05:47,880 This is for Rs 999. 1342 01:05:48,160 --> 01:05:50,360 I don't see anything special in this. 1343 01:05:51,520 --> 01:05:54,680 It's very low quality. Firstly, it looks cheap from the outside. 1344 01:05:54,760 --> 01:05:58,400 And there are a lot of loose threads inside. 1345 01:05:59,040 --> 01:06:01,000 What's the excuse here? 1346 01:06:02,680 --> 01:06:04,200 There is no excuse for that. 1347 01:06:04,280 --> 01:06:06,080 We've just introduced it. 1348 01:06:06,160 --> 01:06:09,840 Then you should not bring it here. Shark Tank is your moment, boss. 1349 01:06:09,960 --> 01:06:11,680 You're on a National platform. 1350 01:06:11,760 --> 01:06:13,880 How will it work if you bring these kinds of products? 1351 01:06:14,480 --> 01:06:16,720 Secondly, you brought this suitcase cover. 1352 01:06:16,840 --> 01:06:19,560 This is also not a very useful thing. 1353 01:06:21,000 --> 01:06:23,080 These days, people are flaunting 1354 01:06:23,160 --> 01:06:25,600 a lot of things for their airport look. 1355 01:06:26,120 --> 01:06:28,440 People find other avenues 1356 01:06:28,520 --> 01:06:31,600 where they can use things to suit their aesthetic look. 1357 01:06:32,160 --> 01:06:34,080 This is not only for an aesthetic look, 1358 01:06:34,160 --> 01:06:39,000 but it is also... We buy such expensive suitcases. 1359 01:06:39,240 --> 01:06:41,120 It is protecting the suitcase too. 1360 01:06:41,960 --> 01:06:43,320 It looks good from a distance. 1361 01:06:43,400 --> 01:06:46,520 But it looks like... Isn't it hindering the functionality? 1362 01:06:46,600 --> 01:06:49,040 If I want to open the suitcase 1363 01:06:49,120 --> 01:06:50,440 - what should I do? Do I open the full cover? - Right. 1364 01:06:50,480 --> 01:06:52,760 - You can... - The sleeve comes off in one go. 1365 01:06:52,840 --> 01:06:55,080 - When did you start this? - Seven months ago. 1366 01:06:55,320 --> 01:06:59,840 You get very cool-looking bags for four or five thousand. 1367 01:06:59,960 --> 01:07:01,960 Who will buy a cover for three thousand 1368 01:07:02,080 --> 01:07:03,760 and cover the bag? 1369 01:07:05,000 --> 01:07:07,200 Let's say I'm travelling by flight. 1370 01:07:07,360 --> 01:07:09,320 It's not like I started from here 1371 01:07:09,400 --> 01:07:11,200 and opened my bag only at my destination. 1372 01:07:11,440 --> 01:07:14,360 It's quite possible that I've to open my bag a couple of times in between. 1373 01:07:14,760 --> 01:07:16,640 This is a headache. 1374 01:07:19,680 --> 01:07:22,680 But it's the same logic as your mobile phone, right? 1375 01:07:23,240 --> 01:07:27,840 The mobile phone cover does not come in the way of operating the phone. 1376 01:07:28,200 --> 01:07:32,080 You can access all the functions on the phone with a good cover. 1377 01:07:32,200 --> 01:07:35,080 - The problem is you can't do that with your cover. - Okay. 1378 01:07:35,160 --> 01:07:36,160 That's the issue. 1379 01:07:37,400 --> 01:07:38,640 Okay, let's hear the numbers. 1380 01:07:38,720 --> 01:07:39,720 Tell us about your sales. 1381 01:07:39,800 --> 01:07:41,920 I'll be surprised if you say you're earning profits. 1382 01:07:42,040 --> 01:07:43,640 [pensive music playing] 1383 01:07:43,720 --> 01:07:47,600 In the first financial year 2021-22 we made 64 lakhs. 1384 01:07:47,840 --> 01:07:49,760 We did this at a loss of 16 lakhs. 1385 01:07:51,040 --> 01:07:53,760 In the next financial year we made 1.35 crores. 1386 01:07:53,840 --> 01:07:56,000 We did that at a loss of 64 lakhs. 1387 01:07:56,720 --> 01:08:01,280 Last financial year we did 3.2 crores with a loss of 2.2 crores. 1388 01:08:03,000 --> 01:08:04,040 What are the figures for this year? 1389 01:08:04,080 --> 01:08:06,120 This year we will touch six crores. 1390 01:08:06,200 --> 01:08:08,320 This will be at a loss of two crores. 1391 01:08:08,440 --> 01:08:10,200 What are your numbers so far? 1392 01:08:10,320 --> 01:08:12,640 Until November we have touched 3.5 crores. 1393 01:08:12,720 --> 01:08:14,840 And this is at 1.7 crores loss. 1394 01:08:14,920 --> 01:08:15,920 Uff! 1395 01:08:17,440 --> 01:08:20,120 In the next four months we will have only 30 lakhs loss 1396 01:08:20,240 --> 01:08:22,760 because in August and September 1397 01:08:22,920 --> 01:08:26,160 we have re-imagined our entire business model, channel, 1398 01:08:26,280 --> 01:08:29,640 product and everything else at the drawing board stage. 1399 01:08:29,720 --> 01:08:31,680 Who took the five crores loss? 1400 01:08:31,760 --> 01:08:34,560 We have put in four crore rupees. 1401 01:08:35,240 --> 01:08:37,560 We have investments from our friends and families 1402 01:08:37,680 --> 01:08:39,720 to the tune of 2.2 crores. 1403 01:08:39,800 --> 01:08:41,200 When did you raise this 2.2 crores? 1404 01:08:41,240 --> 01:08:43,680 This was raised over a series of smaller rounds. 1405 01:08:43,800 --> 01:08:46,600 - How much did you dilute totally? - 15.5% dilution. 1406 01:08:48,600 --> 01:08:51,360 84.5% is between Manali and me. 1407 01:08:51,480 --> 01:08:55,680 The split is 60-40. I have 60% and Manali has 40%. 1408 01:08:57,800 --> 01:08:59,520 What is your channel split? 1409 01:08:59,640 --> 01:09:01,040 30% comes from D2C. 1410 01:09:01,120 --> 01:09:04,320 20% is from domestic marketplaces 1411 01:09:04,400 --> 01:09:06,440 and 20% is from offline retail. 1412 01:09:06,560 --> 01:09:08,520 30% is from Amazon USA. 1413 01:09:09,840 --> 01:09:13,000 - I'd like to say something here. - Hold on, please. 1414 01:09:17,640 --> 01:09:19,480 that's because you don't have a choice. 1415 01:09:19,600 --> 01:09:21,600 - Yes, that's right. - That's absolutely right. 1416 01:09:21,680 --> 01:09:23,480 You had the money, 1417 01:09:23,880 --> 01:09:25,760 - now it's over. - That's right. - Correct. 1418 01:09:26,160 --> 01:09:27,920 You've reached the wall and now you're saying 1419 01:09:27,920 --> 01:09:29,840 you'll hit your head and break the wall? 1420 01:09:31,760 --> 01:09:34,320 - No, sir. I'd like to say a couple of things here. - Yes. 1421 01:09:34,480 --> 01:09:35,480 Yes, you're right. 1422 01:09:35,520 --> 01:09:37,600 Let us explain why we have come here. 1423 01:09:37,760 --> 01:09:39,680 We spent a lot of time 1424 01:09:39,760 --> 01:09:43,320 on building our D2C and over-indexing D2C. 1425 01:09:43,480 --> 01:09:46,000 With the hope that ROAS will improve 1426 01:09:46,080 --> 01:09:49,280 and we went on improving our marketing. 1427 01:09:49,360 --> 01:09:51,320 We thought we could also make it big 1428 01:09:51,400 --> 01:09:53,640 like we had heard and seen other brands do it. 1429 01:09:53,800 --> 01:09:56,440 When we reached this situation, that you mentioned 1430 01:09:56,560 --> 01:09:58,320 we realised this can't go on. 1431 01:09:58,440 --> 01:10:00,080 We decided to go back to the basics. 1432 01:10:00,160 --> 01:10:02,640 We started channel optimization. 1433 01:10:02,720 --> 01:10:05,400 We put a simple cap on D2C 1434 01:10:05,560 --> 01:10:07,440 where we had a fixed amount of expenditure 1435 01:10:07,560 --> 01:10:09,000 even if the revenue is less. 1436 01:10:09,080 --> 01:10:11,680 We decided to build revenue profitable channels. 1437 01:10:11,800 --> 01:10:14,880 October onwards we built our offline channel. 1438 01:10:14,960 --> 01:10:17,800 We started doing B2B white-labeling 1439 01:11:01,760 --> 01:11:03,400 It's a very large company. 1440 01:11:03,840 --> 01:11:08,720 They went to gyms, gave samples and made it in a big sock company. 1441 01:11:09,000 --> 01:11:12,440 They achieved profitability and scaled after 1442 01:11:12,520 --> 01:11:15,240 eight years. Then they did their second diversification. 1443 01:11:15,320 --> 01:11:16,880 They entered the underwear market. 1444 01:11:17,000 --> 01:11:19,520 You're doing so many things. 1445 01:11:19,720 --> 01:11:22,240 And I'm telling you that is the reason why 1446 01:11:22,520 --> 01:11:26,400 your brand is not getting established anywhere. 1447 01:11:27,040 --> 01:11:28,480 You are all over the place. 1448 01:11:30,400 --> 01:11:32,440 I showed you a spelling mistake just now. 1449 01:11:32,520 --> 01:11:34,080 I won't wear something, 1450 01:11:34,160 --> 01:11:36,480 with how much ever love you've given it. I appreciate it. 1451 01:11:36,640 --> 01:11:38,520 But I won't wear something with a spelling mistake. 1452 01:11:38,560 --> 01:11:42,560 I think sometimes when you try to do too many things too soon 1453 01:11:42,640 --> 01:11:45,280 you miss out on the attention to detail. 1454 01:11:45,400 --> 01:11:48,200 I hope you can pivot using that. But for today, I'm out. 1455 01:11:48,360 --> 01:11:49,360 Sure, ma'am. 1456 01:11:49,440 --> 01:11:52,840 - You've been in this for around three to four years now? - Three years. 1457 01:11:52,920 --> 01:11:55,400 Fundamentally, do you think this will work? 1458 01:11:56,160 --> 01:11:58,520 Yes, it will. And it will because we realise that, 1459 01:11:58,680 --> 01:12:00,120 having so many channels, 1460 01:12:00,200 --> 01:12:02,600 in so many things or being dependent on one channel, 1461 01:12:02,680 --> 01:12:04,640 both extremes are not good. 1462 01:12:04,720 --> 01:12:06,880 We must take an in-between approach and move ahead. 1463 01:12:06,960 --> 01:12:08,320 As Namita ma'am mentioned 1464 01:12:08,400 --> 01:12:11,160 instead of establishing six or seven categories 1465 01:12:11,320 --> 01:12:12,640 we should focus on two or three categories... 1466 01:12:12,680 --> 01:12:14,840 You're saying you launched that just today. 1467 01:12:14,960 --> 01:12:18,120 No, sir. It was launched 2.5 months ago. 1468 01:12:20,800 --> 01:12:23,480 We put all the eggs in one basket 1469 01:12:23,600 --> 01:12:25,120 which was performance marketing. 1470 01:12:25,200 --> 01:12:27,920 We did performance marketing after learning how to do it. 1471 01:12:28,000 --> 01:12:30,760 When we used to do it, the scale was very small. 1472 01:12:30,880 --> 01:12:32,760 The profitability was fine at that time. 1473 01:12:32,840 --> 01:12:35,280 That's why we were more dependent on that. 1474 01:12:35,360 --> 01:12:38,760 Actually, the biggest challenge of your company was not performance marketing. 1475 01:12:39,800 --> 01:12:42,960 Do you know what it was? Lack of constraints. 1476 01:12:43,600 --> 01:12:45,680 You had a lot of money with you 1477 01:12:45,760 --> 01:12:49,000 very early in the business and you went on spending it. 1478 01:12:49,120 --> 01:12:52,240 The same thing happened to us too, around 10 years ago. 1479 01:12:52,400 --> 01:12:55,200 But then one day there is a moment of reckoning 1480 01:12:55,480 --> 01:12:58,240 when you have to make corrections in your business 1481 01:12:58,360 --> 01:13:00,400 and they are quite deep corrections. 1482 01:13:01,200 --> 01:13:03,880 On Snapdeal, we saw there were many categories 1483 01:13:03,960 --> 01:13:07,400 which were islands of losses and they will stay that way. 1484 01:13:07,520 --> 01:13:10,280 There are some categories which are islands of profits 1485 01:13:13,120 --> 01:13:15,840 We sharpened our strategies. 1486 01:13:15,960 --> 01:13:18,640 We decided to operate in some categories 1487 01:13:18,720 --> 01:13:20,560 in a particular price band. 1488 01:13:20,640 --> 01:13:24,280 We won't work on anything else for the next five years. 1489 01:13:24,360 --> 01:13:27,360 It is very tough to say no to something 1490 01:13:27,440 --> 01:13:31,440 when you have spent so much time, money and energy on other things. 1491 01:13:31,640 --> 01:13:34,640 Along with that, we decided to build our USP too. 1492 01:13:34,720 --> 01:13:36,920 Which USP matters to the consumer 1493 01:13:37,000 --> 01:13:41,240 when they buy a T-shirt, jeans or shoes worth Rs 400 or Rs 500? 1494 01:13:41,440 --> 01:13:44,520 They are most sensitive to shipping costs. 1495 01:13:45,160 --> 01:13:47,720 No one will pay shipping for an item of Rs 50 or Rs 100. 1496 01:13:47,800 --> 01:13:50,800 We decided to make a single-point USP, 1497 01:13:50,880 --> 01:13:53,800 which was free shipping on 100% of the merchandise. 1498 01:13:54,360 --> 01:13:58,000 But to do that, we re-oriented the entire company. 1499 01:13:58,360 --> 01:14:02,960 You'll have to make a similar, significant transformation in your business too. 1500 01:14:03,080 --> 01:14:03,760 Right. 1501 01:14:03,840 --> 01:14:07,360 I am not confident that you're able to realise it even now. 1502 01:14:07,560 --> 01:14:09,720 And for that reason, I'm out. 1503 01:14:11,600 --> 01:14:13,320 Manali and Harshit, how much did you plan 1504 01:14:13,400 --> 01:14:16,560 to invest when you started? Your own money. 1505 01:14:16,720 --> 01:14:18,640 We thought about 10-15 lakhs or maybe 20 lakhs. 1506 01:14:18,840 --> 01:14:21,160 - And how much did you end up investing? - Four crores. 1507 01:14:21,240 --> 01:14:23,480 Not 10 times, but 40 times. 1508 01:14:25,760 --> 01:14:28,760 This is not how a start-up is made. You build a start-up 1509 01:14:30,520 --> 01:14:32,240 with one product. 1510 01:14:32,640 --> 01:14:35,560 A few people should love the product unconditionally. 1511 01:14:36,840 --> 01:14:38,440 And then slowly 1512 01:14:38,560 --> 01:14:43,080 either you introduce more products for the same customer base 1513 01:14:43,560 --> 01:14:45,800 or you increase that customer base. 1514 01:14:46,120 --> 01:14:48,800 Not that, 'This extreme did not work' 1515 01:14:48,880 --> 01:14:50,320 'all the money is exhausted, 1516 01:14:50,360 --> 01:14:52,840 let me step back and take a middle approach.' 1517 01:14:54,400 --> 01:14:55,880 Sir, as you are saying, 1518 01:14:55,960 --> 01:14:58,480 we are in dire need of your advice. 1519 01:14:58,560 --> 01:15:00,840 We want someone to join us who can 1520 01:15:00,920 --> 01:15:02,720 - give us the direction. - No, listen to me. 1521 01:15:02,840 --> 01:15:04,840 Today you are standing in a place where you 1522 01:15:04,920 --> 01:15:07,240 don't have a meaningful share in any product. 1523 01:15:07,880 --> 01:15:10,760 Socks. There are entire companies built around socks. 1524 01:15:10,880 --> 01:15:14,360 The hanky market is over and you're trying to revive that. 1525 01:15:14,600 --> 01:15:17,520 Your brand is completely disconnected from what you're trying to do. 1526 01:15:17,600 --> 01:15:19,440 You've even given the explanation at the back. 1527 01:15:19,520 --> 01:15:22,560 'One scientist is having fun on a dark night. Professor Hex...' 1528 01:15:22,680 --> 01:15:24,080 - 'The quirky scientist...' - Sir, I'd just... 1529 01:15:24,120 --> 01:15:26,200 What does it have to do with a lifestyle product? 1530 01:15:28,200 --> 01:15:30,920 I think you are a bit clueless. I'm out. 1531 01:15:37,320 --> 01:15:39,200 According to me, 1532 01:15:39,280 --> 01:15:43,080 you should stop everything else except socks and hankies. 1533 01:15:43,520 --> 01:15:46,800 And you should operate in all the channels to bring in the sales. 1534 01:15:47,680 --> 01:15:49,440 You can do something if the money comes in 1535 01:15:50,840 --> 01:15:54,280 and if you can change your logo now is the time. 1536 01:15:54,400 --> 01:15:56,240 I wish you all the best, but I'm out right now. 1537 01:15:58,960 --> 01:16:00,800 We need some guidance. 1538 01:16:01,800 --> 01:16:03,760 It's not like we've come here today because 1539 01:16:03,880 --> 01:16:07,360 we've finished our money and we'll change everything now. 1540 01:16:07,440 --> 01:16:09,840 - We've started our journey already. - Harshit. 1541 01:16:10,040 --> 01:16:12,320 - We need some more direction. - Good. Harshit and Manali, 1542 01:16:12,360 --> 01:16:14,840 this category is very bad. 1543 01:16:17,400 --> 01:16:22,000 Hankies category, bag covers! No bro! 1544 01:16:22,920 --> 01:16:24,600 My advice is 1545 01:16:25,400 --> 01:16:27,840 if you want to try something, try socks for a little longer. 1546 01:16:30,080 --> 01:16:31,080 I am out. 1547 01:16:31,840 --> 01:16:34,480 Always remember, less is more. 1548 01:16:34,600 --> 01:16:36,920 Pick one thing and focus on it. 1549 01:16:37,040 --> 01:16:39,240 Once that scales, then do another. 1550 01:16:39,880 --> 01:16:41,480 The entire four crore rupees didn't go to waste. 1551 01:16:41,520 --> 01:16:43,600 You have developed a muscle 1552 01:16:43,680 --> 01:16:47,000 to build certain products. You are getting private label work. 1553 01:16:47,680 --> 01:16:50,360 Double down, keep going hard on that. The money will come back. 1554 01:16:50,680 --> 01:16:52,800 You'll fight another day. Alright guys! 1555 01:16:52,880 --> 01:16:54,640 - Thank you, wish you all the best. - Thank you, guys! 1556 01:16:54,680 --> 01:16:55,560 Thank you. 1557 01:16:55,640 --> 01:16:58,640 We have also done our study. There is a market for hankies. 1558 01:16:58,720 --> 01:17:00,880 It's a hundred crore plus market. 1559 01:17:00,960 --> 01:17:02,480 I feel that if there was 1560 01:17:02,600 --> 01:17:06,680 an equal opportunity to speak and listen, it might have been better. 1561 01:17:06,760 --> 01:17:08,760 I think that's what's feeling worse. 1562 01:17:08,840 --> 01:17:11,960 Whether you get a deal or not, 1563 01:17:12,040 --> 01:17:13,840 it's okay not to get a deal. 1564 01:17:15,640 --> 01:17:18,440 Sometimes even educated people get carried away. 1565 01:17:18,520 --> 01:17:19,600 What happens is that 1566 01:17:19,680 --> 01:17:21,880 - All over the place. - many brands are being created, 1567 01:17:21,960 --> 01:17:23,600 in D2C so they also thought of making one. 1568 01:17:23,640 --> 01:17:25,760 Many founders 1569 01:17:25,880 --> 01:17:29,080 start spending money quickly, scaling revenue fast. 1570 01:17:29,240 --> 01:17:31,840 They think they'll get valuation and funding, and their job is done. 1571 01:17:31,880 --> 01:17:33,040 They are still stuck in 2020-21. 1572 01:17:33,080 --> 01:17:34,680 Yes, they also started back then. 1573 01:17:34,760 --> 01:17:37,680 - They too began in 2021. - Exactly! 1574 01:17:37,760 --> 01:17:41,120 But founders need to realise that money will never get you 1575 01:17:41,320 --> 01:17:44,600 product-market fit. Customer love gives you product-market fit. 1576 01:17:44,680 --> 01:17:47,800 You shouldn't even be looking for product-market fit in hankies. 1577 01:17:48,080 --> 01:17:50,360 - Hello, Manali. Hello, Harshit. - Hello. 1578 01:17:52,160 --> 01:17:53,160 It was good. 1579 01:17:53,280 --> 01:17:57,200 It was intense, quite engaging, 1580 01:17:57,320 --> 01:17:58,840 and we learnt a lot. 1581 01:17:58,920 --> 01:18:01,960 Yes, it was intense. I saw a lot of intensity too. 1582 01:18:02,080 --> 01:18:04,600 I thought at one point you'd take out a hanky and wipe your face 1583 01:18:05,040 --> 01:18:06,240 because they are such beautiful hankies. 1584 01:18:06,240 --> 01:18:08,000 - I'd keep doing that again and again. - Thank you so much. 1585 01:18:08,000 --> 01:18:09,760 Now look, shopping is therapy. 1586 01:18:09,840 --> 01:18:11,240 We need to enjoy life. 1587 01:18:11,320 --> 01:18:14,760 So whatever you say, I'll order in 10 seconds from Swiggy Instamart. 1588 01:18:14,840 --> 01:18:15,840 Start. 1589 01:18:15,840 --> 01:18:18,600 My throat is dry, so coconut water. 1590 01:18:18,680 --> 01:18:22,200 - Scented candles to relax a bit. - Chocolates. 1591 01:18:22,280 --> 01:18:24,360 Time up. Three things. You started giving reasons. 1592 01:18:24,440 --> 01:18:27,280 That's great, I saved my money. I will surely order three things. 1593 01:18:27,360 --> 01:18:30,240 Done! Order placed. Here's a gift from me to you. 1594 01:18:30,600 --> 01:18:33,120 Friends, order whatever you want from Swiggy Instamart. 1595 01:18:33,200 --> 01:18:35,160 Your items will arrive in 10 minutes. Order now. 1596 01:18:35,280 --> 01:18:37,480 [Shark Tank theme] 1597 01:18:38,240 --> 01:18:40,640 Greetings and welcome to this special segment 1598 01:18:40,720 --> 01:18:42,640 of Invest Smart with ICICI Direct. 1599 01:18:43,040 --> 01:18:44,320 I am your wealth buddy. 1600 01:18:44,400 --> 01:18:48,880 Today we will discuss some important aspects of the investment world 1601 01:18:49,080 --> 01:18:53,520 that will help you make informed and confident investments. 1602 01:18:53,920 --> 01:18:55,120 So, let's get started. 1603 01:18:55,640 --> 01:18:58,280 Today, we have Kkanchan and Himanshu from Haxor with us. 1604 01:18:58,360 --> 01:18:59,200 Hello. 1605 01:18:59,280 --> 01:19:00,480 When you invest, 1606 01:19:00,560 --> 01:19:03,240 what are your strategies and expectations? 1607 01:19:03,320 --> 01:19:06,560 When we need cash at that time, we look here and there. 1608 01:19:06,640 --> 01:19:10,400 We talk to our friends and families and also check our savings. 1609 01:19:10,840 --> 01:19:13,360 That's how we arrange our funds. 1610 01:19:23,160 --> 01:19:24,640 But there is a challenge. 1611 01:19:31,760 --> 01:19:33,280 Use our savings. 1612 01:19:33,360 --> 01:19:35,600 Sometimes savings, sometimes 1613 01:19:35,720 --> 01:19:38,320 we borrow from others with interest. 1614 01:19:38,400 --> 01:19:39,880 Let me tell you another option. 1615 01:19:40,000 --> 01:19:43,160 If you want to build personal investments in the stock market, 1616 01:19:43,280 --> 01:19:45,280 then you can get a funding boost with MTF, 1617 01:20:14,680 --> 01:20:15,800 Oh, that's really nice. 1618 01:20:32,280 --> 01:20:33,960 Hello and welcome to Ask the Shark. 1619 01:20:34,040 --> 01:20:37,640 With us is the founder and managing director of Veeba, Mr Viraj Bahl. 1620 01:20:41,720 --> 01:20:42,840 ...young generation of entrepreneurs 1621 01:20:42,880 --> 01:20:44,600 is making me feel energised. 1622 01:20:44,720 --> 01:20:46,440 - Yes. - So it's a very good feeling. 1623 01:20:46,520 --> 01:20:47,880 Absolutely, we are enjoying it too. 1624 01:20:47,920 --> 01:20:49,520 Let's see how much fun you have after the question. 1625 01:20:49,560 --> 01:20:50,880 - I ask very tough questions. - Absolutely. 1626 01:20:50,880 --> 01:20:54,480 The question has been sent by Palak from Banaras. She is 23 years old. 1627 01:21:14,640 --> 01:21:16,720 If you get sales offline, then do offline. 1628 01:21:16,800 --> 01:21:18,920 If you get sales online, then do online. 1629 01:21:19,000 --> 01:21:21,120 If you can sell on the moon, then do that. 1630 01:21:21,240 --> 01:21:23,000 Sales solve all problems. 1631 01:21:23,120 --> 01:21:24,840 It was my own shortcoming. 1632 01:21:24,920 --> 01:21:27,400 I would genuinely admit 1633 01:21:27,480 --> 01:21:31,120 that it was my shortcoming. I was not an e-commerce customer. 1634 01:21:31,240 --> 01:21:33,640 I was a GT customer. 1635 01:21:33,720 --> 01:21:36,600 Because of that, I built my brand in GT. 1636 01:22:12,000 --> 01:22:13,400 Most welcome, thank you so much. 1637 01:22:13,480 --> 01:22:16,280 See you in the next Ask the Shark with a new question and a new Shark.