1 00:00:20,480 --> 00:00:22,120 [clanking] 2 00:00:24,800 --> 00:00:25,800 [table screeching] 3 00:00:29,800 --> 00:00:31,040 [music playing] 4 00:00:47,080 --> 00:00:48,720 [music concludes] 5 00:00:50,880 --> 00:00:52,120 [theme music playing] 6 00:01:14,440 --> 00:01:16,320 [theme music concludes] 7 00:01:17,000 --> 00:01:21,440 Covid turned the face of the online fashion market overnight. 8 00:01:21,920 --> 00:01:25,000 Many people thought of starting their own fashion brands. 9 00:01:25,880 --> 00:01:27,480 Sharks, I've been in the business 10 00:01:27,840 --> 00:01:29,840 - of garment manufacturing for 24 years. - Okay. 11 00:01:29,920 --> 00:01:32,920 A few people approached me and asked me to build my own brand 12 00:01:33,120 --> 00:01:34,600 and I told Ashima about it. 13 00:01:34,960 --> 00:01:36,480 I was 24 years old at the time 14 00:01:36,600 --> 00:01:38,720 and super excited that we would kill it! 15 00:01:38,840 --> 00:01:41,760 What do I tell you about what became of that brand? 16 00:01:42,080 --> 00:01:44,560 In short, it failed. 17 00:01:44,760 --> 00:01:45,640 [chuckles] 18 00:01:45,720 --> 00:01:49,400 - And with it went my youth and desires. - God! 19 00:01:49,480 --> 00:01:50,760 And Rs. 70 lakhs. 20 00:01:50,960 --> 00:01:52,680 - Oh! - Oops! 21 00:01:52,760 --> 00:01:53,920 That failure helped us 22 00:01:54,000 --> 00:01:56,960 understand what it takes to make a fashion brand. 23 00:01:57,280 --> 00:01:58,480 That's how Dorabi was born. 24 00:02:05,400 --> 00:02:06,520 We are from Gurugram. 25 00:02:07,360 --> 00:02:11,880 Dorabi is India's only 100% hand-dyed label 26 00:02:20,520 --> 00:02:23,160 No two pieces can be the same, just like art. 27 00:02:23,480 --> 00:02:25,480 We're eco-conscious 28 00:02:25,600 --> 00:02:28,560 and by generating employment for generational artisans, 29 00:02:28,640 --> 00:02:30,040 we bring about a social impact. 30 00:02:31,200 --> 00:02:34,440 Our quality is high and we are size-inclusive. 31 00:02:41,520 --> 00:02:44,240 Then to introduce solid clothing in the workwear category 32 00:02:44,320 --> 00:02:46,920 and to cater to a minimalist aesthetic, 33 00:02:47,040 --> 00:02:49,120 we started our second brand Aamili. 34 00:02:54,080 --> 00:02:56,000 Dorabi and Aamili must come to mind. 35 00:02:56,160 --> 00:02:58,840 And we plan to expand across all categories. 36 00:02:59,040 --> 00:03:02,480 And so, our ask is Rs. 75 lakhs for 3% equity. 37 00:03:05,840 --> 00:03:07,560 [up-tempo music playing] 38 00:03:07,800 --> 00:03:09,160 Oh, music! 39 00:03:36,720 --> 00:03:37,800 Very nice. 40 00:03:46,360 --> 00:03:47,440 [mouthing words] 41 00:03:48,920 --> 00:03:50,080 [music fades out] 42 00:03:54,640 --> 00:03:56,120 Batra family from Gurugram. 43 00:03:56,280 --> 00:03:57,400 Thank you. [all] 44 00:03:57,760 --> 00:04:01,760 - You told us a little about how this brand started. - Yes. 45 00:04:01,920 --> 00:04:06,720 You also spoke about a brand that failed. 46 00:04:07,160 --> 00:04:10,680 Could you tell us what happened and how? 47 00:04:11,880 --> 00:04:14,400 In 2020, before the pandemic, 48 00:04:14,520 --> 00:04:17,440 some brand architects approached us to make our own brand. 49 00:04:17,520 --> 00:04:18,800 Brand architects! 50 00:04:18,880 --> 00:04:19,760 - Yes. - Explain. 51 00:04:19,840 --> 00:04:22,760 That was a new concept to us to be very honest, 52 00:04:22,880 --> 00:04:25,320 because we didn't know such a thing existed in the market. 53 00:04:25,400 --> 00:04:28,000 - He had 24 years of manufacturing experience. - Yes. 54 00:04:32,600 --> 00:04:36,040 So, they approached us saying, "There's a demand on marketplaces." 55 00:04:36,120 --> 00:04:38,400 "We'll make a brand for Myntra." 56 00:04:38,480 --> 00:04:41,240 "There's a gap in a particular category" 57 00:04:41,400 --> 00:04:42,840 "and we will fill it." 58 00:04:42,920 --> 00:04:44,560 "Our ASP will be so and so." 59 00:04:49,440 --> 00:04:50,760 So, the investment was yours. 60 00:04:50,840 --> 00:04:52,120 - Yes. - The investment was ours, 61 00:04:52,160 --> 00:04:55,080 the brand architects even took fees as well as commission separately. 62 00:04:55,200 --> 00:04:57,520 We built many SKUs and manufactured surplus inventory. 63 00:04:57,600 --> 00:04:58,800 They wanted to manufacture more, 64 00:04:58,800 --> 00:05:02,160 Dad said, "No. I'll only make this much. I'm buying the fabric." 65 00:05:02,280 --> 00:05:05,040 - Good call. - "I won't make more inventory." 66 00:05:05,120 --> 00:05:07,640 - Honestly, we worked in good faith. - What had happened? 67 00:05:07,840 --> 00:05:09,000 There were no sales, sir. 68 00:05:10,160 --> 00:05:12,440 Neither on Ajio nor Myntra. 69 00:05:12,520 --> 00:05:15,080 - The brand had a return rate of 50%. - Crazy. 70 00:05:15,160 --> 00:05:16,720 - And... - What was the name of the brand? 71 00:05:21,720 --> 00:05:25,760 - About brand building, people and how the processes worked. - Yes. 72 00:05:25,920 --> 00:05:28,120 You see, fashion was not my background. 73 00:05:28,240 --> 00:05:30,160 This was my crash course in fashion. 74 00:05:30,240 --> 00:05:33,560 - As they say, "Success builds ego..." - Yes. 75 00:05:33,640 --> 00:05:35,480 - "And failure builds character." - Exactly. 76 00:05:35,560 --> 00:05:37,600 - So, you learned from that experience. - Absolutely. 77 00:05:37,640 --> 00:05:39,000 There was a lot of learning. 78 00:05:39,080 --> 00:05:41,080 But three major learnings were this. 79 00:05:41,200 --> 00:05:43,520 - Trusted people are non-negotiable. - True. 80 00:05:43,600 --> 00:05:46,280 Because we work collaboratively, that has to be there. 81 00:05:46,560 --> 00:05:48,480 Second, that product was for marketplaces. 82 00:05:48,720 --> 00:05:52,000 So, it didn't have a special USP or storyline. 83 00:05:52,320 --> 00:05:54,400 The third thing was inventory management of course. 84 00:05:54,520 --> 00:05:58,840 And we've implemented these three points in both our brands. 85 00:06:00,000 --> 00:06:02,000 You didn't tell us the fourth point. 86 00:06:05,760 --> 00:06:07,920 What did that teach you? 87 00:06:08,640 --> 00:06:09,480 A lot of things. 88 00:06:09,560 --> 00:06:11,960 The way we manage our processes. 89 00:06:12,040 --> 00:06:14,040 There is a lot of confirmation that happens 90 00:06:14,120 --> 00:06:16,280 after the person clicks on "Confirm Order". 91 00:06:16,560 --> 00:06:18,240 - Okay. - There is a call confirmation. 92 00:06:18,360 --> 00:06:19,720 We don't say, "Confirm your order." 93 00:06:19,760 --> 00:06:23,240 - We say, "We could customise, do something for you..." - Okay. 94 00:06:23,360 --> 00:06:25,200 We kind of tell the customer 95 00:06:25,280 --> 00:06:27,000 that their product is coming and they can expect it. 96 00:06:27,000 --> 00:06:28,240 You have a helpline to do that! 97 00:06:28,480 --> 00:06:30,440 Our MI... Internal CRM. 98 00:06:30,560 --> 00:06:34,320 This is... During scaling, you'll need 50 people just to make calls. 99 00:06:34,400 --> 00:06:37,160 You don't have to call everyone, especially not for paid orders. 100 00:06:37,320 --> 00:06:39,160 You've to make sure that for COD orders, 101 00:06:39,240 --> 00:06:41,960 there are certain PIN codes that we've highlighted 102 00:06:42,040 --> 00:06:45,040 - from where we have maximum traction of fake orders. - Yes. 103 00:06:45,120 --> 00:06:47,560 - We had the issue of fake orders. - Absolutely. 104 00:06:47,680 --> 00:06:52,040 - We put an SOP in place for these checks. - You could automate it. 105 00:06:52,120 --> 00:06:53,400 - Through automated calling. - Correct. 106 00:06:53,440 --> 00:06:55,400 Sonia, what do you oversee? 107 00:06:56,080 --> 00:06:58,760 I actually oversee the operations on the floor. 108 00:07:00,720 --> 00:07:04,040 - Initially, it was with Vinod. - Okay. 109 00:07:04,120 --> 00:07:05,840 But Ashima started her business too. 110 00:07:06,080 --> 00:07:07,680 Our unit is the same now. 111 00:07:07,800 --> 00:07:09,080 Who is it more fun with? 112 00:07:10,080 --> 00:07:12,040 - Be honest. - I love playing with the colours. 113 00:07:12,120 --> 00:07:13,000 I meant, out of them. 114 00:07:13,080 --> 00:07:14,640 [all laugh] 115 00:07:16,040 --> 00:07:18,400 Actually, Mom is neutral. 116 00:07:18,480 --> 00:07:20,720 - She's a bridge between Dad and me. - Okay. 117 00:07:21,440 --> 00:07:23,320 After that brand failed, 118 00:07:23,520 --> 00:07:26,640 she racked her brains for six months thinking about what to do next. 119 00:07:26,840 --> 00:07:28,520 Then she came up with this proposal. 120 00:07:28,600 --> 00:07:31,200 "Dad, I won't sell my goods on marketplaces." 121 00:07:31,280 --> 00:07:32,960 "I'll first build a brand." 122 00:07:33,160 --> 00:07:34,840 - "Sell it on D2C." - Got it. 123 00:07:34,920 --> 00:07:36,480 She worked on the storyline... 124 00:07:36,560 --> 00:07:38,200 - Basically, she did all the work. - Okay. 125 00:07:38,280 --> 00:07:39,880 We were just the backend support. 126 00:07:40,160 --> 00:07:41,640 Our job was to manufacture the clothes 127 00:07:42,240 --> 00:07:43,280 as per her requirements. 128 00:07:43,360 --> 00:07:44,920 Give us your design sample. 129 00:07:45,000 --> 00:07:47,080 - We'll manufacture it and that too, within the least time. - Great. 130 00:07:47,080 --> 00:07:50,040 Do you get a profit share for that or do you bill her? 131 00:07:50,120 --> 00:07:51,000 - Billing. - I... 132 00:07:51,080 --> 00:07:51,920 - Billing. - Okay. 133 00:07:52,000 --> 00:07:54,120 So, she provides me with everything I need. 134 00:07:54,320 --> 00:07:56,080 Fabric, prints... Everything. 135 00:07:56,440 --> 00:07:57,640 I manufacture it for her. 136 00:07:57,760 --> 00:07:58,680 - Okay. - Got it. 137 00:07:58,760 --> 00:08:00,360 Does he have equity in your company? 138 00:08:00,480 --> 00:08:01,560 Yes, they both do. 139 00:08:01,640 --> 00:08:02,640 What's the split? 140 00:08:02,640 --> 00:08:04,960 50%, 25% and 25%. 141 00:08:05,840 --> 00:08:09,440 - Ashima, you built a product using hand dyes. - Yes. 142 00:08:09,520 --> 00:08:11,640 Could you get into a second layer of details? 143 00:08:12,360 --> 00:08:15,080 A year before 2020, 144 00:08:15,160 --> 00:08:17,920 there was a fad of tie-dyes if you remember. 145 00:08:18,000 --> 00:08:19,640 Tie-dye socks to tie-dye hoodies. 146 00:08:19,720 --> 00:08:23,200 In that fad, there were only those straight lines 147 00:08:23,280 --> 00:08:24,520 - or blotching. - Hmm. 148 00:08:24,600 --> 00:08:26,440 I didn't see a third design. 149 00:08:26,560 --> 00:08:29,040 But there was so much to be done with hand-dyes. 150 00:08:29,120 --> 00:08:30,680 I've always been a creative person. 151 00:08:30,760 --> 00:08:33,000 I've played with colours. I'm a painter also. 152 00:08:34,720 --> 00:08:37,560 So, I started sitting with the tie-dye master. 153 00:08:37,640 --> 00:08:40,440 We began brainstorming on the techniques we could introduce. 154 00:08:40,560 --> 00:08:42,880 We could do brush techniques. 155 00:08:43,120 --> 00:08:45,840 Shibori and batik were already in the market, 156 00:08:46,040 --> 00:08:47,960 but how do you give it a modern look? 157 00:08:48,080 --> 00:08:51,600 - We mostly see it being used in traditional clothing. - Correct. 158 00:08:51,840 --> 00:08:53,440 So, the idea was to modernise it 159 00:08:53,520 --> 00:08:55,400 and create pieces that look like art. 160 00:08:55,560 --> 00:08:56,560 "Oh, what's that?" 161 00:08:56,640 --> 00:08:58,280 Something different that grabs your attention. 162 00:08:58,280 --> 00:08:59,920 - That is... - Something people should compliment at sight. 163 00:08:59,920 --> 00:09:03,280 - Yes, it should give the vibe of the brand from afar. - Vibe. 164 00:09:03,360 --> 00:09:05,920 And it's important it be made for any brand to scale. 165 00:09:06,000 --> 00:09:07,000 Good thinking. 166 00:09:10,080 --> 00:09:11,400 Aman, you get Dorabi. 167 00:09:11,520 --> 00:09:12,520 Okay. Why so? 168 00:09:12,840 --> 00:09:14,320 - I'll tell you, sir. - I decided that. 169 00:09:14,320 --> 00:09:15,760 [all laugh] 170 00:09:15,880 --> 00:09:17,120 - I love what you're wearing. - This is for you, ma'am. 171 00:09:17,120 --> 00:09:18,520 - Thank you. - Beautiful. 172 00:09:20,240 --> 00:09:21,640 - Sir, that's for you. - Thank you. 173 00:09:34,600 --> 00:09:37,080 Your mother is wearing it and so are you. 174 00:09:37,240 --> 00:09:38,760 I took note of your sizes. 175 00:09:38,840 --> 00:09:40,760 - You had a plus-size model too. - Yes. 176 00:09:40,880 --> 00:09:44,400 I think your design sensibilities are on point. 177 00:09:45,640 --> 00:09:47,400 This was my thought in terms of the TG. 178 00:09:47,480 --> 00:09:52,120 I wanted it to be occasion-wear, party wear and date wear. 179 00:09:52,200 --> 00:09:55,400 You can wear it anywhere where you want to look special. 180 00:09:55,480 --> 00:09:56,680 And anybody can wear it. 181 00:09:56,800 --> 00:09:58,560 If I team it up with a choker 182 00:09:58,640 --> 00:09:59,680 and wear bracelet stacks, 183 00:09:59,760 --> 00:10:01,000 then I'm Diwali party ready. 184 00:10:01,120 --> 00:10:02,200 If I go wearing this, 185 00:10:02,280 --> 00:10:04,840 I could even present my business proposal before you. 186 00:10:05,000 --> 00:10:06,640 So, that was the whole idea. 187 00:10:11,720 --> 00:10:14,360 "In the world of fast fashion," 188 00:10:14,760 --> 00:10:15,800 "we're taking it slow." 189 00:10:15,880 --> 00:10:16,880 Yes. 190 00:10:17,320 --> 00:10:19,880 Do you look at Dorabi as slow fashion 191 00:10:19,960 --> 00:10:22,720 and prepare your products with that in mind? 192 00:10:22,760 --> 00:10:24,400 As more human-involvement based? 193 00:10:24,480 --> 00:10:27,520 Absolutely. They are handcrafted products. 194 00:10:27,680 --> 00:10:30,920 Do you differentiate Dorabi and Aamili 195 00:10:31,000 --> 00:10:33,640 - as Aamili being... - Aamili is also a completely sustainable brand. 196 00:10:33,640 --> 00:10:34,920 It is also slow fashion. 197 00:10:35,000 --> 00:10:37,000 Slow fashion, sir, 198 00:10:37,080 --> 00:10:39,800 how I understand is basically 199 00:10:39,880 --> 00:10:42,200 that you should not be producing in bulk, 200 00:10:42,400 --> 00:10:44,320 you should not be contributing to landfills, 201 00:10:44,440 --> 00:10:47,320 you should be sourcing and selling mindfully. 202 00:10:47,480 --> 00:10:49,680 All of that is commonality between both the brands. 203 00:10:49,720 --> 00:10:50,560 - Both brands. - Yes. 204 00:10:50,640 --> 00:10:53,400 Why does this say Neraya? Because you shut it down. 205 00:10:53,880 --> 00:10:55,040 Is this the old packaging? 206 00:10:55,120 --> 00:10:56,600 - This is the old bag. - Yes, it is. 207 00:10:56,680 --> 00:10:58,160 - You know, the bags were ready... - One minute. 208 00:10:58,160 --> 00:11:00,120 I said, the brand did exist, right? 209 00:11:00,240 --> 00:11:01,360 - It is diluted now. - No! 210 00:11:01,480 --> 00:11:03,960 - Actually, Mr. Batra, I beg to differ. - Okay. 211 00:11:04,040 --> 00:11:06,240 - You know, a customer like me... - Yes. 212 00:11:06,400 --> 00:11:07,680 I'll be confused. 213 00:11:07,720 --> 00:11:10,320 Suppose I visit this website before your other two brands 214 00:11:10,440 --> 00:11:12,080 and I see it's a dead website... 215 00:11:12,240 --> 00:11:15,560 - The consumer's first impression will be a very negative one. - Yes. 216 00:11:15,680 --> 00:11:18,440 - Point taken. - This is what you call penny-wise and pound-foolish! 217 00:11:19,760 --> 00:11:22,120 - Point taken. - In order to save some money, 218 00:11:22,200 --> 00:11:24,200 you're making a mistake with your packaging 219 00:11:24,280 --> 00:11:26,640 through which you will lose customers. 220 00:11:26,800 --> 00:11:28,840 - Yes, I... - Don't make this mistake to save a few bucks. 221 00:11:28,840 --> 00:11:30,200 Yes, you're absolutely right. 222 00:11:31,720 --> 00:11:33,200 Shall we talk about revenues? 223 00:11:33,280 --> 00:11:35,360 Sir, we started in 2022. 224 00:11:38,840 --> 00:11:42,600 - In 2023-24, our revenue was Rs. 3.45 crores. - Well done. 225 00:11:42,760 --> 00:11:46,280 And we've done Rs. 2.35 crores this year so far 226 00:11:46,360 --> 00:11:48,440 - and we'll close at Rs. 5.5 crores. - Very nice. 227 00:11:51,480 --> 00:11:53,760 Yes. My COGS is 30%. 228 00:11:53,840 --> 00:11:56,240 My marketing spend is 37%. 229 00:11:56,320 --> 00:11:59,480 10% is my infrastructure, rent and utilities. 230 00:11:59,560 --> 00:12:01,800 My platform cost is 5%. 231 00:12:02,120 --> 00:12:04,440 And 5% is logistics. 232 00:12:04,560 --> 00:12:06,640 What do you mean by a 5% platform cost? 233 00:12:06,920 --> 00:12:08,360 Shopify, Shiprocket... 234 00:12:08,440 --> 00:12:10,720 The 1-2% that goes to such service providers. 235 00:12:10,800 --> 00:12:12,840 These unicommerce companies charge a bomb. 236 00:12:12,920 --> 00:12:13,920 [both chuckle] 237 00:12:14,160 --> 00:12:15,400 Do you use unicommerce 238 00:12:15,480 --> 00:12:17,640 - to sell on multiple marketplaces? - No, sir. 239 00:12:17,760 --> 00:12:19,320 We're currently not on marketplaces. 240 00:12:19,400 --> 00:12:21,560 - Now, we... - Are all your sales direct? 241 00:12:21,680 --> 00:12:23,200 This is all from our website. 242 00:12:27,040 --> 00:12:28,040 Outstanding. 243 00:12:28,160 --> 00:12:31,280 - Could you quickly show us your website, please? - Absolutely. 244 00:12:34,920 --> 00:12:37,160 We can go down and choose a category. 245 00:12:37,320 --> 00:12:39,720 - We have co-ord sets. These are all the categories we have. - Very nice. 246 00:12:39,720 --> 00:12:41,480 - That green one is beautiful. - Yes. 247 00:12:41,560 --> 00:12:43,480 - This is one of my top sellers. - Yay. 248 00:12:43,560 --> 00:12:46,000 I've sold 1500 pieces of this one. 249 00:12:47,240 --> 00:12:48,360 This is Alya Dress. 250 00:12:48,440 --> 00:12:50,240 Why Alya? Did Alia wear it? 251 00:12:50,600 --> 00:12:52,720 - No, sir. All my dresses have names. - Really! 252 00:12:52,840 --> 00:12:54,200 - This is Aroha. - Yes! 253 00:12:54,280 --> 00:12:55,600 This is Aaryaki. 254 00:12:55,760 --> 00:12:57,080 What you have is Layla. 255 00:12:57,160 --> 00:12:58,560 - What sir has is Lilith. - Oh, wow! 256 00:12:58,600 --> 00:13:00,320 - What is this? - What ma'am has is Juniper. 257 00:13:00,320 --> 00:13:01,320 That's Aura. 258 00:13:01,400 --> 00:13:02,760 - Oh, wow. - Sir has Zeeba. 259 00:13:02,840 --> 00:13:04,280 This is the Alya Dress. 260 00:13:04,440 --> 00:13:05,800 So, this is how we make it. 261 00:13:05,920 --> 00:13:07,640 First, the Alya Dress is a coarse cloth. 262 00:13:17,000 --> 00:13:19,920 And then, when we open it, 263 00:13:20,200 --> 00:13:23,320 that is when the patterns actually come. 264 00:13:23,400 --> 00:13:27,040 This is a very intensive process which takes a lot of time. 265 00:13:27,160 --> 00:13:28,040 And... 266 00:13:28,160 --> 00:13:29,400 - Effort. - Effort. 267 00:13:31,160 --> 00:13:33,080 Why haven't you listed on marketplaces yet? 268 00:13:33,200 --> 00:13:35,480 Sir, we plan on getting listed with them. 269 00:13:35,560 --> 00:13:37,520 However, brand positioning was imperative 270 00:13:37,600 --> 00:13:39,840 to filter which marketplaces we wanted to be listed on. 271 00:13:39,960 --> 00:13:40,760 On Myntra... 272 00:13:40,840 --> 00:13:42,200 Yes, some SKUs 273 00:13:42,280 --> 00:13:45,400 do fit in particular ASPs 274 00:13:45,600 --> 00:13:47,120 and they will be sold there. 275 00:13:47,200 --> 00:13:48,640 I did want to position the brand first. 276 00:13:48,640 --> 00:13:51,880 We will be on Nykaa's Hidden Gems category from next quarter 277 00:13:51,960 --> 00:13:55,440 followed by Pernia's Pop-Up Shop, Aza and other premium marketplaces 278 00:13:55,520 --> 00:13:57,360 because on premium marketplaces, 279 00:13:57,440 --> 00:13:59,640 when you see products in this price range, 280 00:13:59,800 --> 00:14:01,360 it's an impulse purchase. 281 00:14:02,240 --> 00:14:03,240 What's your price range? 282 00:14:03,400 --> 00:14:08,080 My average selling price for Dorabi is about Rs. 4,000 283 00:14:24,000 --> 00:14:25,160 - or just online? - Yes. 284 00:14:25,240 --> 00:14:28,480 We currently are in four MBOs in India. 285 00:14:35,000 --> 00:14:36,000 Why? 286 00:14:36,120 --> 00:14:37,120 Why not? 287 00:14:38,360 --> 00:14:40,200 Why not because even now, 288 00:14:40,280 --> 00:14:43,800 Nykaa, Myntra and Ajio are flourishing in India. 289 00:14:43,880 --> 00:14:45,320 - They are doing very well. - Yes. 290 00:14:45,440 --> 00:14:48,040 It is easier to capture that than to talk about global stuff, 291 00:14:48,120 --> 00:14:49,200 is what I feel. 292 00:14:50,240 --> 00:14:51,240 I agree with you, sir. 293 00:14:51,240 --> 00:14:54,880 There is a huge market in India which we definitely plan to capture. 294 00:14:55,120 --> 00:14:59,680 But the global appeal of Dorabi and handcrafted goods is huge. 295 00:14:59,800 --> 00:15:01,880 - Good point. - I'm not just thinking of India, 296 00:15:01,960 --> 00:15:05,400 I want to make this brand into a global franchise. 297 00:15:05,640 --> 00:15:06,800 Tell us your numbers, Ashima. 298 00:15:06,880 --> 00:15:10,160 What percent of your sales come from the four stores in India? 299 00:15:10,240 --> 00:15:11,840 Till last year, 2023, 300 00:15:11,920 --> 00:15:13,880 we had only one store. 301 00:15:14,080 --> 00:15:15,640 - Okay. - The other stores 302 00:15:15,720 --> 00:15:18,160 were started only in the last four to six months. 303 00:15:18,400 --> 00:15:19,520 So in the last five months, 304 00:15:19,600 --> 00:15:22,320 currently, 15% of our revenue is offline. 305 00:15:22,400 --> 00:15:23,640 85% is online. 306 00:15:23,720 --> 00:15:26,800 Is 15% solely from India or from Dubai as well? 307 00:15:26,960 --> 00:15:29,760 Only 2-3% of it comes from Dubai. 308 00:15:29,880 --> 00:15:32,320 What's the revenue split between both brands? 309 00:15:32,440 --> 00:15:34,200 Till 2023, my revenue split 310 00:15:34,280 --> 00:15:36,200 was 80% from Dorabi and 20% from Aamili, 311 00:15:36,280 --> 00:15:38,400 because Aamili was launched last year itself. 312 00:15:38,720 --> 00:15:41,000 This year, Aamili has picked up. 313 00:15:41,080 --> 00:15:43,200 Now, we're at a 65-35 split. 314 00:15:43,280 --> 00:15:45,120 65% from Dorabi and 35% from Aamili. 315 00:15:45,760 --> 00:15:48,000 In the end, companies in fashion get built 316 00:15:48,080 --> 00:15:49,760 - on the basis of inventory. - Yes. 317 00:15:50,040 --> 00:15:52,400 How many days of inventory do you have? 318 00:15:53,200 --> 00:15:55,200 I have an inventory of 45 days 319 00:15:55,280 --> 00:15:58,000 for the hero products in the most-selling sizes. 320 00:15:58,520 --> 00:15:59,960 Coming to the issue of dead stock. 321 00:16:00,040 --> 00:16:01,800 It breaks the size of brands. 322 00:16:01,960 --> 00:16:04,680 As it's third-party manufacturing, they've to place orders for sets. 323 00:16:05,080 --> 00:16:06,560 That's where brands falter. 324 00:16:06,880 --> 00:16:07,800 I don't do that. 325 00:16:07,880 --> 00:16:11,120 If the demand is for M, L, XL sizes for the last few months, 326 00:16:11,240 --> 00:16:14,160 I'll only stock those sizes. If I get an order for extra small, 327 00:16:14,360 --> 00:16:16,680 I know I can dispatch it within five days. 328 00:16:16,760 --> 00:16:18,440 That's why I don't have any dead stock. 329 00:16:29,360 --> 00:16:30,800 And you say that 330 00:16:31,160 --> 00:16:34,880 - this year, you'll save about Rs. 65 lakhs. - Yes. 331 00:16:34,960 --> 00:16:36,320 Then why do you want to raise capital? 332 00:16:36,320 --> 00:16:37,560 Won't Dad fund you again? 333 00:16:37,680 --> 00:16:38,920 [Aman laughs] 334 00:16:40,360 --> 00:16:42,520 Sir, Dad will fund me whenever I ask him, 335 00:16:42,640 --> 00:16:44,480 - but I want to do this on my own. - Love it! 336 00:16:44,600 --> 00:16:47,120 If you want to do it on your own, why are your parents here? 337 00:16:47,400 --> 00:16:49,000 Sir, I'll still need Dad. 338 00:16:49,080 --> 00:16:51,520 - He'll fund me, I'd still need him... - "I'll still need Dad." 339 00:16:51,600 --> 00:16:54,560 Because the idea is to grow very fast and very quickly. 340 00:16:54,920 --> 00:16:57,400 I have the first mover market advantage 341 00:16:57,480 --> 00:17:00,720 - when it comes to handcrafted goods and these kind of products. - Yes. 342 00:17:00,800 --> 00:17:03,080 I want to expand across categories. 343 00:17:03,200 --> 00:17:05,000 That is a five-year plan. 344 00:17:06,040 --> 00:17:08,240 So, I've heard your story. 345 00:17:08,360 --> 00:17:12,200 I find this industry to be quite risky 346 00:17:13,000 --> 00:17:15,960 given the explosion of fashion brands, 347 00:17:16,080 --> 00:17:17,320 especially in fast fashion. 348 00:17:17,400 --> 00:17:20,680 Yes, you wish to differentiate with slow fashion, 349 00:17:20,840 --> 00:17:23,160 but is the customer really looking for that? 350 00:17:23,240 --> 00:17:26,520 The customer definitely understands all of this 351 00:17:26,800 --> 00:17:29,360 but there is a very big chunk of customers 352 00:17:29,440 --> 00:17:31,120 that's not ready to pay a premium for it 353 00:17:31,200 --> 00:17:32,720 - and I agree with you there. - Yes. 354 00:17:32,880 --> 00:17:34,920 Craftsmanship and employment generation 355 00:17:35,000 --> 00:17:36,520 is all branding. 356 00:17:37,600 --> 00:17:39,320 If you want to sell goods to the customer, 357 00:17:39,400 --> 00:17:41,520 they want quality, reasonable prices 358 00:17:41,600 --> 00:17:43,800 - and aesthetic products. - Right. 359 00:17:43,880 --> 00:17:46,720 And that is why I have created a product category 360 00:17:46,840 --> 00:17:48,400 which is very affordable. 361 00:17:48,520 --> 00:17:50,040 The differentiated product 362 00:17:50,440 --> 00:17:52,440 will help you with the second sale. 363 00:17:52,600 --> 00:17:54,800 The price will help you with the first sale. 364 00:17:56,080 --> 00:17:57,560 You answered every question 365 00:17:57,720 --> 00:18:00,160 like somebody who's very seasoned. 366 00:18:01,000 --> 00:18:03,320 That comes either with a good instinct, 367 00:18:03,440 --> 00:18:06,040 a first-principle thinking 368 00:18:06,280 --> 00:18:09,480 or with a few knocks, right? 369 00:18:09,560 --> 00:18:12,040 - In your case, I think it's all three. - Hmm. 370 00:18:12,080 --> 00:18:14,480 So, I think you're a founder worth backing. 371 00:18:16,560 --> 00:18:18,240 I find the valuation a bit high. 372 00:18:18,680 --> 00:18:21,360 So, I'll offer you a deal. 373 00:18:21,560 --> 00:18:22,400 Okay. 374 00:18:22,480 --> 00:18:25,320 Rs. 75 lakhs for 5%. Straight equity, nothing else. 375 00:18:30,320 --> 00:18:32,040 I'd just like to hear the other Sharks. 376 00:18:33,360 --> 00:18:34,880 Ashima, um... 377 00:18:35,080 --> 00:18:36,920 - Mr. Batra and Sonia. - Yes. 378 00:18:37,040 --> 00:18:39,080 Actually, during the pitch... 379 00:18:39,240 --> 00:18:41,760 Obviously, I was trying to concentrate on the pitch, 380 00:18:42,040 --> 00:18:44,840 but I have a daughter too. She's eight right now. 381 00:18:45,880 --> 00:18:47,000 I was so pleased 382 00:18:47,080 --> 00:18:51,240 by Ashima's confidence. 383 00:18:51,760 --> 00:18:55,800 And I know she gets that confidence because of you two. 384 00:18:56,400 --> 00:18:59,920 - You both are Ashima's pillars. - Yes, absolutely. 385 00:19:00,160 --> 00:19:02,880 And when I was listening to Ashima 386 00:19:02,960 --> 00:19:05,000 answer all the questions so confidently, 387 00:19:05,080 --> 00:19:06,080 I wished that... 388 00:19:06,120 --> 00:19:07,560 I mean, one day, I'd also want 389 00:19:08,160 --> 00:19:10,520 my daughter to be in such a situation 390 00:19:10,600 --> 00:19:13,600 where she can pitch her business with such confidence. 391 00:19:13,880 --> 00:19:14,880 Thank you. 392 00:19:15,040 --> 00:19:17,800 Those who make a comeback after setbacks 393 00:19:17,960 --> 00:19:20,200 are real entrepreneurs. 394 00:19:21,760 --> 00:19:24,240 Their stories don't start here and end here. 395 00:19:24,320 --> 00:19:27,080 - The graph will be chaotic... Left, right, up and down. - Hmm. 396 00:19:27,240 --> 00:19:29,320 Many of them give up midway, 397 00:19:29,880 --> 00:19:32,080 but you put it all behind you, 398 00:19:32,160 --> 00:19:35,440 implemented your learnings and marched on. 399 00:19:35,720 --> 00:19:38,120 It is very commendable. 400 00:19:38,360 --> 00:19:39,920 When people watch your pitch, 401 00:19:40,120 --> 00:19:43,000 I can tell you, a lot of people will be inspired by you. 402 00:19:43,160 --> 00:19:44,160 Thank you. 403 00:19:44,200 --> 00:19:48,840 You've built a good business, 404 00:19:48,920 --> 00:19:50,240 but I believe 405 00:19:50,360 --> 00:19:52,160 maintaining a long-term differentiation 406 00:19:52,560 --> 00:19:54,200 in a fashion business 407 00:19:54,720 --> 00:19:56,240 is quite difficult. 408 00:19:56,760 --> 00:19:58,760 Continue to tread this path. 409 00:19:59,040 --> 00:20:00,240 I'm very confident 410 00:20:00,320 --> 00:20:04,440 that this Rs. 5.5 crores will turn to Rs. 20-25 crores with time. 411 00:20:04,840 --> 00:20:07,920 There might be twists and turns in that journey though. 412 00:20:08,200 --> 00:20:09,400 I wish you all the best. 413 00:20:09,480 --> 00:20:11,800 Today, I won't be able to invest. I'm out. 414 00:20:12,000 --> 00:20:13,160 - Thank you. - Thank you, sir. 415 00:20:14,440 --> 00:20:17,720 India still has a lot of unorganised players. 416 00:20:18,080 --> 00:20:20,840 Becoming an organised player 417 00:20:21,320 --> 00:20:24,080 and scaling at that level... 418 00:20:24,320 --> 00:20:25,840 Um, you're not there yet. 419 00:20:27,480 --> 00:20:30,080 I think, in regard to your goal, 420 00:20:30,400 --> 00:20:33,600 you will create a market to a certain extent, 421 00:20:34,040 --> 00:20:35,760 but to really get scale, 422 00:20:36,080 --> 00:20:37,880 give an investor an exit... 423 00:20:38,280 --> 00:20:40,120 Then you're distracted by going global. 424 00:20:40,560 --> 00:20:41,800 You know, Dubai and all. 425 00:20:42,200 --> 00:20:43,880 I think you're a little all over the place. 426 00:20:43,920 --> 00:20:45,040 Think about it, 427 00:20:45,400 --> 00:20:46,520 but for today, I'm out. 428 00:20:47,880 --> 00:20:49,080 I genuinely feel 429 00:20:49,160 --> 00:20:52,280 - that slow fashion will make a significant impact. - Yes. 430 00:20:52,520 --> 00:20:54,720 - I've seen it in WhySoBlue also. - Okay. 431 00:21:00,320 --> 00:21:02,360 - is quite significant. - Yes. 432 00:21:02,560 --> 00:21:05,440 And it significantly benefits from word of mouth as well. 433 00:21:05,520 --> 00:21:06,840 Suppose someone wears an outfit. 434 00:21:06,920 --> 00:21:08,920 People start asking them where they bought it from. 435 00:21:09,080 --> 00:21:10,520 And the word keeps spreading. 436 00:21:10,600 --> 00:21:12,560 So, the marketing requirement eventually declines. 437 00:21:13,160 --> 00:21:14,800 I wish to make you an offer today. 438 00:21:16,800 --> 00:21:20,120 Rs. 40 lakhs for 2% equity in your company 439 00:21:20,240 --> 00:21:22,360 which is roughly the valuation that you had asked. 440 00:21:22,520 --> 00:21:26,840 Along with that, Rs. 35 lakhs for 9% interest 441 00:21:26,960 --> 00:21:28,480 over a period of 3 years. 442 00:21:34,560 --> 00:21:38,040 - And there is hardly anyone in India. - Exactly. 443 00:21:38,120 --> 00:21:39,280 I love it though. 444 00:21:39,360 --> 00:21:41,320 - Would you like to make men's wear? - Absolutely. 445 00:21:41,360 --> 00:21:43,680 - I think I'll be your first customer. - Done. 446 00:21:44,080 --> 00:21:45,440 And probably brand ambassador. 447 00:21:45,520 --> 00:21:46,520 [both laugh] 448 00:21:47,080 --> 00:21:48,720 And I love the fashion space. 449 00:21:48,800 --> 00:21:50,320 I have two brands in this. 450 00:21:50,440 --> 00:21:52,080 - House of Chikankari. - Yes. 451 00:21:52,160 --> 00:21:53,720 It is doing phenomenal. 452 00:21:57,960 --> 00:22:00,360 Today, at Rs. 500 crores, he wants me to invest more. 453 00:22:00,440 --> 00:22:02,880 I'm ready to invest even at a Rs. 500-crore valuation. 454 00:22:03,480 --> 00:22:06,880 I'm a firm believer in Indian fashion spaces exploding. 455 00:22:07,720 --> 00:22:10,000 So, I think I will um... 456 00:22:10,080 --> 00:22:12,520 The offer you asked for is fair. 457 00:22:12,600 --> 00:22:14,280 I would like to come in at... 458 00:22:16,280 --> 00:22:18,160 Rs. 75 lakhs for 3% equity. 459 00:22:22,320 --> 00:22:25,560 I would like all three of you to come on in on an offer. 460 00:22:27,160 --> 00:22:31,040 I would like to keep the valuation at Rs. 25 crores 461 00:22:31,160 --> 00:22:32,720 because I think it's a fair ask. 462 00:22:32,800 --> 00:22:34,560 Would you like to come together on this deal? 463 00:22:36,920 --> 00:22:38,480 The ownership will be meagre. 464 00:22:38,640 --> 00:22:40,360 Anupam, come here. 465 00:22:40,440 --> 00:22:41,960 - I want to talk to you. - Yes, just a second. 466 00:22:41,960 --> 00:22:42,960 Let me just... One... 467 00:22:43,040 --> 00:22:45,080 - If you have just 1% left... - Yes. 468 00:22:45,440 --> 00:22:46,560 That makes it difficult. 469 00:22:46,640 --> 00:22:48,680 - You should think about it. - Okay. 470 00:22:48,800 --> 00:22:50,480 - We'll quickly discuss this. - Okay, sir. 471 00:22:50,560 --> 00:22:51,880 - But please think about that. - Yes. 472 00:22:51,880 --> 00:22:53,560 You don't want us with very little equity. 473 00:22:53,680 --> 00:22:54,720 - Yes, sir. Right. - Yes? 474 00:22:55,120 --> 00:22:56,440 [tense music playing] 475 00:22:58,000 --> 00:23:01,040 - You should maximise the number of Sharks in the deal. - Yes. 476 00:23:01,400 --> 00:23:02,680 Figure out a structure 477 00:23:02,760 --> 00:23:04,760 in which you can get as many as possible. 478 00:23:04,840 --> 00:23:05,840 Yes. 479 00:23:06,240 --> 00:23:07,800 [pensive music playing] 480 00:23:14,520 --> 00:23:16,360 I think at least 2% ownership... 481 00:23:17,680 --> 00:23:20,320 We should get that if Aman and I join hands. 482 00:23:20,400 --> 00:23:21,400 Okay. 483 00:23:22,480 --> 00:23:25,080 - We think Rs. 75 lakhs for 4% is fair. - Hmm. 484 00:23:25,400 --> 00:23:26,960 Can we do Rs. 1 crore for 4%? 485 00:23:27,080 --> 00:23:28,080 I can. 486 00:23:28,160 --> 00:23:29,360 [tense music playing] 487 00:23:51,240 --> 00:23:54,080 'I saw more value in doing an individual deal.' 488 00:23:54,200 --> 00:23:55,440 Given the direction she chose, 489 00:23:55,600 --> 00:24:00,040 I thought it was better to offer a deal individually. 490 00:24:00,840 --> 00:24:03,200 'I thought the final offer the deal was closed for' 491 00:24:03,480 --> 00:24:05,000 which was Rs. 1 crore for 4% equity 492 00:24:05,360 --> 00:24:07,200 was far superior to my offer. 493 00:24:07,280 --> 00:24:10,000 For that reason, I did not counter the deal. 494 00:24:10,200 --> 00:24:11,560 [music playing] 495 00:24:15,200 --> 00:24:16,800 [music fades out] 496 00:24:19,040 --> 00:24:20,560 [up-tempo music playing] 497 00:24:24,880 --> 00:24:26,400 [music concludes] 498 00:24:27,160 --> 00:24:30,600 Welcome to ACKO Change Makers where we really welcome change 499 00:24:36,160 --> 00:24:38,480 Through a perfect mix of traditional and modern methods, 500 00:24:38,560 --> 00:24:42,480 we are encouraging inclusivity, gender equality and sustainability. 501 00:24:42,800 --> 00:24:45,800 And today's Change Makers, who are doing exactly that 502 00:24:45,880 --> 00:24:48,000 and have got funding, are the Batras. 503 00:24:48,240 --> 00:24:51,280 - Congratulations! Not one Shark, but two. - Thank you. 504 00:24:51,360 --> 00:24:52,400 How does it feel? 505 00:24:52,520 --> 00:24:54,000 - It feels amazing. - Yes. 506 00:24:54,080 --> 00:24:55,320 It feels unreal. 507 00:24:55,480 --> 00:24:57,400 Ashima, yours is a conscious brand. 508 00:24:57,480 --> 00:24:58,760 You're doing a lot of things. 509 00:24:58,840 --> 00:25:01,920 For instance, using traditional art forms in your fashion 510 00:25:02,040 --> 00:25:03,840 and employment to artisans. 511 00:25:04,000 --> 00:25:07,640 Also, plus-size fashion, which is a need in India. 512 00:25:07,720 --> 00:25:08,960 It's a very big consumer base. 513 00:25:09,040 --> 00:25:10,520 It's 50% of your consumer base. 514 00:25:10,600 --> 00:25:11,600 - It's huge, right? - Yes. 515 00:25:11,720 --> 00:25:13,560 So, here's my question to you. 516 00:25:13,640 --> 00:25:16,280 If we, at an individual level, 517 00:25:16,360 --> 00:25:18,920 want to bring sustainability into our fashion, what can we do? 518 00:25:19,040 --> 00:25:20,440 To begin with, 519 00:25:20,520 --> 00:25:22,720 fast fashion has normalised the trend 520 00:25:22,800 --> 00:25:26,160 of buying new dresses and outfits no matter what occasion comes up, 521 00:25:26,240 --> 00:25:27,400 be it any event or a birthday. 522 00:25:27,440 --> 00:25:29,560 - I think that is not normal. - Right. 523 00:25:29,640 --> 00:25:31,640 I think we ought to invest in clothes 524 00:25:31,720 --> 00:25:37,120 - that we can reuse, restyle, style up and style down. - Hmm. 525 00:25:37,320 --> 00:25:39,920 So, buy less but choose wisely. 526 00:25:40,000 --> 00:25:43,520 That is one thing I believe we can all easily implement. 527 00:25:43,760 --> 00:25:46,640 - And this will make a big difference too. - Hmm. 528 00:25:47,000 --> 00:25:48,320 And the second thing is, 529 00:25:48,400 --> 00:25:49,840 I think, choose fabrics 530 00:25:50,200 --> 00:25:53,000 - such as plant-based fabrics, wool and cotton. - Nice. 531 00:25:53,080 --> 00:25:54,960 These things will end... 532 00:25:55,040 --> 00:25:57,920 If they do end up in landfills, 533 00:25:58,000 --> 00:26:00,080 - then will biodegrade. - Yes. 534 00:26:00,160 --> 00:26:04,360 But something like polyester will rot in the soil for years 535 00:26:04,440 --> 00:26:05,640 and is not good for us. 536 00:26:05,720 --> 00:26:08,120 Good tips. I'm happy because I'm on that journey 537 00:26:08,200 --> 00:26:10,800 - and you also said these things, so I will follow them. - Okay. 538 00:26:10,880 --> 00:26:12,760 Thank you for bringing about that change. 539 00:26:12,880 --> 00:26:15,320 And bringing about one such change is ACKO. 540 00:26:15,400 --> 00:26:17,080 With its revolutionary offerings, 541 00:26:17,160 --> 00:26:19,680 it has changed the insurance space completely. 542 00:26:19,880 --> 00:26:22,440 For instance, a zero waiting period for health insurance. 543 00:26:22,720 --> 00:26:27,080 That means if you do not have a pre-existing health condition, 544 00:26:27,240 --> 00:26:30,880 your coverage will start from the first day of the policy. 545 00:26:31,080 --> 00:26:33,520 And you can claim without any standard waiting period. 546 00:26:33,600 --> 00:26:36,040 Also, to celebrate your time in the Tank, 547 00:26:36,120 --> 00:26:37,160 plus you got funded, 548 00:26:37,240 --> 00:26:40,200 we want to give you a nice appreciation of our love. 549 00:26:40,320 --> 00:26:42,520 - The happy, smiling faces of the Batras! - Aw! 550 00:26:42,600 --> 00:26:45,080 This is so cute. Thank you so much. 551 00:26:45,160 --> 00:26:46,160 [camera shutter clicking] 552 00:27:00,840 --> 00:27:02,280 [theme music playing] 553 00:27:21,720 --> 00:27:23,640 [theme music concludes] 554 00:27:24,480 --> 00:27:25,560 Greetings, Sharks. 555 00:27:28,480 --> 00:27:31,920 We've come from Surat in a highly-engineered vehicle 556 00:27:32,080 --> 00:27:34,440 which is optimised for atmospheric gliding. 557 00:27:35,520 --> 00:27:36,560 Now, in this, 558 00:27:36,640 --> 00:27:39,400 Bernoulli's principle and Newton's Third Law are used. 559 00:27:39,560 --> 00:27:41,360 - According to Bernoulli's... - That's enough. 560 00:27:42,160 --> 00:27:44,560 Sharks, she means to say we came in a plane. 561 00:27:46,240 --> 00:27:49,360 Books also oftentimes make such simple concepts complex 562 00:27:49,520 --> 00:27:51,120 as well as bore us. 563 00:27:51,200 --> 00:27:53,080 For this reason, 564 00:27:53,240 --> 00:27:55,160 most people are unable to finish reading their books. 565 00:27:55,160 --> 00:27:56,240 And even if they do, 566 00:27:56,320 --> 00:27:58,080 they forget what they've read. 567 00:27:58,160 --> 00:28:01,120 So, we bring to you Zebralearn. 568 00:28:03,040 --> 00:28:05,200 At Zebralearn, we simplify complex topics 569 00:28:05,280 --> 00:28:09,080 such as finance, marketing and HR 570 00:28:09,160 --> 00:28:11,240 and make them interesting for the reader. 571 00:28:11,560 --> 00:28:14,280 Zebralearn brings boring content to life. 572 00:28:14,400 --> 00:28:16,920 And we do three things to make that happen. 573 00:28:17,120 --> 00:28:20,600 First, our content is highly India-centric 574 00:28:20,680 --> 00:28:22,400 and quite actionable. 575 00:28:33,280 --> 00:28:35,680 Let's understand this the Zebralearn way. 576 00:28:35,840 --> 00:28:36,920 For example, 577 00:28:37,000 --> 00:28:40,840 let's consider this piece of land you see as a business. 578 00:28:40,960 --> 00:28:43,640 Now, we divide the land into 100 equal parts. 579 00:28:43,760 --> 00:28:46,040 We give 2 blocks to Aman 580 00:28:46,120 --> 00:28:47,720 and 3 to Namita. 581 00:28:47,840 --> 00:28:49,240 This means, 582 00:28:49,320 --> 00:28:52,320 Aman has 2% equity shares in the company 583 00:28:52,440 --> 00:28:55,280 and Namita has 3% equity shares in the company. 584 00:29:08,760 --> 00:29:10,960 ...who wish to upskill. 585 00:29:11,280 --> 00:29:12,200 Very recently, 586 00:29:12,280 --> 00:29:15,080 - we entered the category of school books. - Well done. 587 00:29:24,800 --> 00:29:27,320 To do that, we'd like an investment from you 588 00:29:27,400 --> 00:29:31,200 - of Rs. 1 crore in exchange for 0.8% in the company. - Whoa! 589 00:29:37,200 --> 00:29:38,000 Thank you. 590 00:29:38,080 --> 00:29:39,360 Tell us about yourselves. 591 00:29:39,440 --> 00:29:43,440 What inspired you to make Zebralearn or what aroused your interest? 592 00:29:43,760 --> 00:29:46,040 And tell us about your past background. 593 00:29:46,160 --> 00:29:47,480 Speaking of my education, 594 00:29:47,560 --> 00:29:49,760 I come from an equity research background. 595 00:29:49,840 --> 00:29:51,480 I have completed CFA. 596 00:29:59,480 --> 00:30:00,520 but the response was bad. 597 00:30:01,000 --> 00:30:02,960 That gave me a better understanding of publishing. 598 00:30:03,560 --> 00:30:05,440 What the gaps were, what was broken. 599 00:30:05,560 --> 00:30:08,000 After that, we tried to set up a venture 600 00:30:08,080 --> 00:30:10,640 where we started with courses 601 00:30:10,880 --> 00:30:12,920 and later on, switched to books. 602 00:30:13,840 --> 00:30:15,040 What about you, Radhika? 603 00:30:15,120 --> 00:30:17,520 My educational background is also in finance. 604 00:30:17,600 --> 00:30:19,360 I studied at an institute in Surat 605 00:30:19,440 --> 00:30:22,360 which offers an eighteen-month course 606 00:30:22,440 --> 00:30:25,200 that trains you in equity research, industry analysis, 607 00:30:25,360 --> 00:30:27,800 investment banking and private equity. 608 00:30:27,880 --> 00:30:28,800 I was doing that. 609 00:30:28,880 --> 00:30:30,040 By the time I was 19, 610 00:30:30,120 --> 00:30:31,240 I started working with 611 00:30:31,320 --> 00:30:33,200 JM Financial in the private equity division 612 00:30:33,280 --> 00:30:34,920 as a private equity analyst. 613 00:30:35,000 --> 00:30:36,800 When I was 20, he was 22. 614 00:30:36,880 --> 00:30:38,080 We started this company. 615 00:30:38,160 --> 00:30:39,680 How did you two meet? 616 00:30:39,760 --> 00:30:40,960 We are brother and sister. 617 00:30:41,040 --> 00:30:42,920 - Oh, okay! - I see. 618 00:30:43,040 --> 00:30:44,120 When did you start this? 619 00:30:44,200 --> 00:30:46,920 Sir, the company was incorporated in August 2020 620 00:30:57,000 --> 00:30:59,600 whether personally written or through other authors? 621 00:30:59,720 --> 00:31:02,000 We have 25 books so far 622 00:31:02,240 --> 00:31:05,000 out of which 4 are our maths books. 623 00:31:05,080 --> 00:31:08,160 8 books are published under Zebralearn's name. 624 00:31:08,240 --> 00:31:09,440 They have no author. 625 00:31:10,280 --> 00:31:13,200 We hired experts to write those books. 626 00:31:13,280 --> 00:31:15,080 As for the books after that, 627 00:31:15,240 --> 00:31:17,840 we began working with authors. 628 00:31:17,960 --> 00:31:19,800 For instance, our book on real estate. 629 00:31:19,880 --> 00:31:24,320 The author was a CEO at JLL earlier. 630 00:31:24,400 --> 00:31:28,000 Are you a publishing company like Penguin or HarperCollins? 631 00:31:28,200 --> 00:31:30,120 Or are you an education company? 632 00:31:30,200 --> 00:31:31,920 We call ourselves integrated. 633 00:31:32,080 --> 00:31:34,800 By that, I mean we do publish books 634 00:31:34,920 --> 00:31:36,800 and work directly with the authors 635 00:31:36,920 --> 00:31:39,360 so that we have direct control over the content, 636 00:31:39,560 --> 00:31:41,080 the content churned is of high quality 637 00:31:41,160 --> 00:31:42,480 and we get the IP for it. 638 00:31:47,760 --> 00:31:50,680 We don't claim we're an educational company. 639 00:31:50,840 --> 00:31:52,400 We're a book platform. 640 00:31:53,280 --> 00:31:55,680 But, Anurag and Radhika, books as a business... 641 00:31:55,760 --> 00:31:57,400 We've heard of many bookstores 642 00:31:57,520 --> 00:32:00,160 - that got converted into cafes and gradually shut down. - Yes. 643 00:32:00,600 --> 00:32:02,480 What aroused your interest in this industry? 644 00:32:03,080 --> 00:32:06,640 Honestly, our initial goal wasn't to revolutionise the book industry. 645 00:32:06,880 --> 00:32:09,240 Our goal was to improve the education system. 646 00:32:09,640 --> 00:32:11,360 We started with courses. 647 00:32:11,520 --> 00:32:13,520 We started by explaining visually, 648 00:32:13,680 --> 00:32:16,360 and gradually, we experimented with a book. 649 00:32:17,200 --> 00:32:19,120 What are your top titles, Anurag? 650 00:32:19,160 --> 00:32:22,000 Currently, it has 51 Trading Strategies. 651 00:32:22,280 --> 00:32:24,560 Other than that, we recently released The Money Guide. 652 00:32:27,400 --> 00:32:29,360 [music playing] 653 00:32:32,240 --> 00:32:33,560 Hi, Namita! 654 00:32:33,760 --> 00:32:35,360 - Hi! - These are for you. 655 00:32:36,120 --> 00:32:38,000 Break The Career Code. 656 00:32:38,280 --> 00:32:41,280 I don't want math. I'll see the flashcards. 657 00:32:41,600 --> 00:32:42,920 - Are you making curriculum books? - Yes. 658 00:32:42,960 --> 00:32:45,120 - Oh! I want to see one of these. - This is... Yeah! 659 00:32:45,560 --> 00:32:47,080 So, this is Real Estate. 660 00:32:51,800 --> 00:32:54,920 The books contain graphics and illustrations. 661 00:32:55,320 --> 00:33:00,160 As far as I try to understand this, it might take time. 662 00:33:00,200 --> 00:33:02,440 But it looks simplified. How much does the book cost? 663 00:33:02,480 --> 00:33:05,680 We sell it for Rs. 1,500. The MRP is Rs. 3,000. 664 00:33:09,400 --> 00:33:12,200 Rs. 499... How much do you sell your book for, Namita? 665 00:33:12,640 --> 00:33:14,480 - Rs. 300. - Rs. 300, right? 666 00:33:14,600 --> 00:33:17,240 I agree with what you are saying. Our books are slightly expensive. 667 00:33:17,280 --> 00:33:18,320 We decided... 668 00:33:18,360 --> 00:33:20,000 - It's five times more expensive. - It's quite expensive. 669 00:33:20,040 --> 00:33:22,760 - It's three times more expensive than average business books. - Why? 670 00:33:23,280 --> 00:33:24,600 Our printing costs Rs. 300. 671 00:33:25,000 --> 00:33:26,400 Anurag, on one hand, 672 00:33:26,560 --> 00:33:29,520 you teach trading strategies, 673 00:33:29,560 --> 00:33:33,600 and on the other, you teach math to 6th grade students. 674 00:33:34,240 --> 00:33:36,800 So, you are either a squirrel with a tail, 675 00:33:36,880 --> 00:33:38,760 - or you are an elephant with a trunk. - Okay! 676 00:33:38,840 --> 00:33:40,080 What are you trying to create? 677 00:33:40,960 --> 00:33:42,720 Sir, according to the E&Y report 678 00:33:42,880 --> 00:33:46,040 we received, the overall book market 679 00:34:17,040 --> 00:34:18,360 Tell me about your business. 680 00:34:18,400 --> 00:34:21,480 How has your revenue and business been over the last few years? 681 00:34:21,560 --> 00:34:25,960 We started selling our books in FY22. 682 00:34:50,480 --> 00:34:53,880 our sales were around Rs. 79 lakhs in April. 683 00:34:53,960 --> 00:34:55,560 In May, it was Rs. 90 lakhs. 684 00:34:55,640 --> 00:34:57,400 In June, it was Rs. 1.10 crores. 685 00:34:57,400 --> 00:34:59,760 In July, it was Rs. 1.30 crores. 686 00:34:59,920 --> 00:35:01,800 In August, it was Rs. 1.64 crores. 687 00:35:01,960 --> 00:35:04,880 And in September, it was Rs. 1.75 crores. 688 00:35:05,000 --> 00:35:07,240 This means you've already made around Rs. 7-Rs. 8 crores. 689 00:35:07,320 --> 00:35:09,200 - Approximately, yes. - How much will you make this year? 690 00:35:09,200 --> 00:35:10,920 By the end of the year, how much will be your revenue? 691 00:35:10,960 --> 00:35:12,080 Around Rs. 21-Rs. 22 crores. 692 00:35:12,080 --> 00:35:15,600 - Crazy! - How much revenue or profit will you make? 693 00:35:15,640 --> 00:35:17,840 We reinvest our profit. 694 00:35:17,920 --> 00:35:19,080 The expense of making books... 695 00:35:19,080 --> 00:35:21,320 That is something else. What will your EBITDA be? 696 00:35:21,400 --> 00:35:23,360 Sir, our EBITDA, so far, 697 00:35:23,440 --> 00:35:26,080 shows a loss of Rs. 20 lakhs. 698 00:35:26,280 --> 00:35:27,560 Out of Rs. 7 crores. 699 00:35:42,720 --> 00:35:44,280 You can say that. 700 00:35:44,360 --> 00:35:47,720 We have a cost of acquiring our customers. 701 00:35:47,880 --> 00:35:50,440 But if the customers buy the same books again, 702 00:35:50,600 --> 00:35:52,640 that margin increases, because... 703 00:35:52,640 --> 00:35:53,680 How much does it reach? 704 00:35:53,800 --> 00:35:56,280 At present, the largest portion of our unit economics 705 00:35:56,320 --> 00:35:58,200 is our marketing spend. 706 00:35:58,840 --> 00:36:01,520 We expect that it will decrease over time. 707 00:36:01,560 --> 00:36:03,720 - How much is your marketing spend? - It's 35%. 708 00:36:04,200 --> 00:36:07,160 - Crazy! - One final question, how much cash do you have? 709 00:36:07,240 --> 00:36:09,400 After accounting for payables, receivables, 710 00:36:09,480 --> 00:36:13,000 and inventories, there are currently Rs. 2.60 crores in the bank. 711 00:36:13,560 --> 00:36:15,280 Have you raised a fund? 712 00:36:15,320 --> 00:36:16,560 Yes, sir. We have raised two rounds. 713 00:36:16,600 --> 00:36:18,040 - With? - Tell us the history. 714 00:36:18,160 --> 00:36:21,000 We raised the first round in December 2021. 715 00:36:21,120 --> 00:36:25,120 We raised a round of Rs. 1 crore for Rs. 8.8 crores valuation. 716 00:36:25,880 --> 00:36:28,400 The next round was in May 2023. 717 00:36:28,520 --> 00:36:30,240 We raised a CCPS. 718 00:36:30,280 --> 00:36:33,120 Back then, our monthly sales were Rs. 64 lakhs. 719 00:36:34,400 --> 00:36:37,520 And we raised Rs. 2.75 crores. 720 00:36:37,760 --> 00:36:41,120 The floor was Rs. 42.75 crores against it. 721 00:36:41,200 --> 00:36:42,960 Pre-money... Floor! 722 00:36:43,200 --> 00:36:45,920 And the CAP was Rs. 62.75 crores. 723 00:36:49,880 --> 00:36:50,920 Yes. 724 00:36:51,000 --> 00:36:52,960 Where are your sales of Rs. 21 crores coming from? 725 00:36:53,080 --> 00:36:54,200 It is a lot. 726 00:36:54,320 --> 00:36:56,480 I want to say that this is quite impressive. 727 00:36:56,720 --> 00:36:59,120 - By raising Rs. 3.7 crores... - Yes. 728 00:36:59,200 --> 00:37:01,480 You still have Rs. 2 crores. 729 00:37:01,760 --> 00:37:05,240 You invested Rs. 1.7 crores in the business 730 00:37:05,480 --> 00:37:09,840 and made a profitable business of Rs. 21 crores. 731 00:37:09,840 --> 00:37:11,280 It's really impressive. 732 00:37:11,360 --> 00:37:13,520 - Your question was, where are our sales coming from? - Yes. 733 00:37:13,560 --> 00:37:17,320 Last month, our sale was Rs. 1.75 crores. 734 00:37:17,480 --> 00:37:20,160 Out of that, 50% is from Amazon. 735 00:37:20,320 --> 00:37:23,600 45% is from our website. 736 00:37:23,720 --> 00:37:25,640 And 5% is Flipkart. 737 00:37:26,160 --> 00:37:28,280 What is your current repeat rate? 738 00:37:28,360 --> 00:37:29,680 The repeat rate is slightly low. 739 00:37:29,760 --> 00:37:32,360 Up until now, 740 00:37:32,440 --> 00:37:34,720 - it is around 10%. - Ouch! 741 00:37:34,800 --> 00:37:37,600 That's because the categories we have 742 00:37:37,640 --> 00:37:39,160 don't have much depth yet. 743 00:37:40,360 --> 00:37:42,000 Do you have hero products? 744 00:37:42,080 --> 00:37:43,360 65% of the books 745 00:37:43,440 --> 00:37:46,760 - in our library are from the finance category. - Okay! 746 00:37:46,800 --> 00:37:49,560 Of the 65%, I should mention 747 00:37:49,680 --> 00:37:52,320 that the Stock Investing book with the yellow cover 748 00:37:52,440 --> 00:37:55,040 and 51 Trading Strategies 749 00:37:55,080 --> 00:37:58,280 each contribute 15% to the sales. 750 00:37:58,320 --> 00:38:01,480 Other than that, we have a book called Financial Statement Analysis 751 00:38:01,560 --> 00:38:04,280 and another one on Financial Modelling, 752 00:38:04,440 --> 00:38:07,760 both of which contribute 10% each to the sales. 753 00:38:07,840 --> 00:38:10,720 - Wow! So 50%... - 50% of sales comes from four books. 754 00:38:10,760 --> 00:38:12,600 - They are from the finance genre. - All four... Yes. 755 00:38:12,640 --> 00:38:14,560 I was coming to that. All four are finance. 756 00:38:14,680 --> 00:38:17,160 Other than that, the remaining three books on finance 757 00:38:17,200 --> 00:38:20,040 that is 5% each. That's why 65% is finance. 758 00:38:20,160 --> 00:38:21,640 The major reason is that 759 00:38:21,720 --> 00:38:23,520 finance is our core subject 760 00:38:23,560 --> 00:38:25,160 and we launched those books first, 761 00:38:25,280 --> 00:38:26,880 so the market picked up. 762 00:38:26,920 --> 00:38:30,520 Other than that, our books on Marketing, Real Estate, and HR 763 00:38:30,560 --> 00:38:32,200 contribute less at the moment. 764 00:38:32,280 --> 00:38:34,520 This is because we were unable to penetrate the market much, 765 00:38:34,560 --> 00:38:37,280 as I want more depth in these products. 766 00:38:37,680 --> 00:38:40,680 I have a preliminary diagnosis of your business. 767 00:38:41,800 --> 00:38:44,880 This is a high-priced and high-margin product, 768 00:38:45,840 --> 00:38:49,440 with a high marketing percentage and low repeat rate. 769 00:38:50,640 --> 00:38:54,520 And finance books contribute to a large part of the revenue. 770 00:38:55,040 --> 00:38:57,960 I think the key audience 771 00:38:58,320 --> 00:39:01,800 is the uninformed group 772 00:39:02,080 --> 00:39:05,560 that is looking for get-rich-quick schemes. 773 00:39:06,080 --> 00:39:08,080 - I am sure your ads are amazing. - Yes. 774 00:39:08,160 --> 00:39:11,240 And they entice them to read these books to get rich. 775 00:39:11,480 --> 00:39:14,760 The book gets delivered to them, but they either don't read it 776 00:39:14,920 --> 00:39:18,920 or read it, suffer losses in the market and the story ends there 777 00:39:19,240 --> 00:39:20,560 and they never come back. 778 00:39:21,800 --> 00:39:24,800 We never communicate that if you buy our books 779 00:39:24,920 --> 00:39:27,760 you will get rich quickly. 780 00:39:27,840 --> 00:39:29,360 I am not accusing you. 781 00:39:30,240 --> 00:39:32,080 If most of your business 782 00:39:32,160 --> 00:39:34,720 and revenue is coming from customers 783 00:39:34,760 --> 00:39:37,120 with whom you have a fleeting relationship, 784 00:39:37,480 --> 00:39:40,040 it's like they're dating you but won't marry you. 785 00:39:40,440 --> 00:39:43,800 It will impact the long-term prospects of the business. 786 00:39:44,280 --> 00:39:47,160 I think when this F&O trading 787 00:39:47,400 --> 00:39:50,320 falls down by 40%-50%, 788 00:39:50,400 --> 00:39:53,960 the sale of your books can go down in the same proportion. 789 00:39:56,400 --> 00:39:58,800 You need to diversify as soon as possible, 790 00:39:58,840 --> 00:40:00,800 otherwise, your numbers next year could 791 00:40:00,880 --> 00:40:02,720 show you're moving in the reverse direction. 792 00:40:03,400 --> 00:40:04,720 For these reasons, I am out. 793 00:40:05,120 --> 00:40:06,120 Thank you. 794 00:40:06,480 --> 00:40:08,920 Usually, when high sales 795 00:40:09,080 --> 00:40:12,280 and profitable company comes on the Tank, we all get excited. 796 00:40:12,480 --> 00:40:16,040 But in your case, in a lot of areas, 797 00:40:16,240 --> 00:40:17,560 a disaster is waiting to happen, 798 00:40:17,680 --> 00:40:19,600 - and scaling will be difficult. - Sure. 799 00:40:19,680 --> 00:40:21,360 It's my duty to tell you about those areas. 800 00:40:21,360 --> 00:40:23,320 Four books make up 50%. 801 00:40:23,440 --> 00:40:25,440 Seven books make up 65%. 802 00:40:25,480 --> 00:40:27,200 Highly vulnerable business. 803 00:40:27,880 --> 00:40:30,640 The price is too expensive at Rs. 3,000. 804 00:40:30,920 --> 00:40:33,600 The last point I want to make is you have to diversify. 805 00:40:33,880 --> 00:40:37,080 You need to double down on what is working. 806 00:40:37,200 --> 00:40:40,160 Instead of just saying finance is your expertise and it's working, 807 00:40:40,200 --> 00:40:41,640 you should focus more on it. 808 00:40:41,720 --> 00:40:44,320 You're diversifying and so on. 809 00:40:44,800 --> 00:40:46,040 And for that reason, I am out. 810 00:40:47,560 --> 00:40:49,040 Your core strength 811 00:40:49,120 --> 00:40:51,280 is your understanding of the finance industry 812 00:40:51,360 --> 00:40:54,680 and the content surrounding it. 813 00:40:55,120 --> 00:40:59,080 You should aim to become the king of finance content. 814 00:40:59,400 --> 00:41:01,080 I've always felt 815 00:41:01,720 --> 00:41:03,520 that finance education 816 00:41:04,280 --> 00:41:06,600 should perhaps be taught from childhood in schools. 817 00:41:06,640 --> 00:41:09,640 There was a campaign recently about teaching coding, 818 00:41:10,040 --> 00:41:13,320 but I believe financial literacy is equally, if not more, important. 819 00:41:13,400 --> 00:41:15,840 I learnt a lot of things over the years. 820 00:41:16,160 --> 00:41:19,000 I thought that if I had known all this earlier, 821 00:41:19,480 --> 00:41:21,920 how much more disproportionately successful I could have been 822 00:41:21,920 --> 00:41:23,920 in my business, in my work and for my family. 823 00:41:23,960 --> 00:41:25,960 I tell everyone in my family 824 00:41:26,080 --> 00:41:29,200 to have a basic understanding of finance. 825 00:41:29,400 --> 00:41:31,560 I say the same to entrepreneurs I meet. 826 00:41:32,400 --> 00:41:35,360 So, I will offer Rs. 1 crore you asked for. 827 00:41:35,960 --> 00:41:38,560 However, the valuation you had previously, 828 00:41:38,680 --> 00:41:42,480 with a CAP of Rs. 1 crore for a Rs. 62.5 crores valuation, 829 00:41:42,840 --> 00:41:44,400 I am willing to invest in your company. 830 00:41:44,600 --> 00:41:46,480 This would result in a 1.6% ownership. 831 00:41:52,080 --> 00:41:53,320 - Thank you, Shark. - Thank you. 832 00:41:53,800 --> 00:41:55,080 It's a great offer, guys. 833 00:41:55,200 --> 00:41:58,120 I can't underwrite it, even at half the valuation. 834 00:42:00,000 --> 00:42:02,480 This is the kind of business that is at a stage 835 00:42:03,200 --> 00:42:05,120 where we can't be certain about where it will go. 836 00:42:05,440 --> 00:42:07,160 So, if I came in 837 00:42:07,240 --> 00:42:09,600 to this company, I would want 5%-10%. 838 00:42:10,560 --> 00:42:12,680 That does not look possible today. 839 00:42:12,960 --> 00:42:14,280 Therefore, I am out. 840 00:42:14,360 --> 00:42:15,360 Thank you! 841 00:42:15,880 --> 00:42:16,880 Anurag and Radhika, 842 00:42:17,280 --> 00:42:20,040 - it's lovely to see people doing business in finance. - Thank you. 843 00:42:20,560 --> 00:42:23,160 But this industry... I don't read books. 844 00:42:24,880 --> 00:42:26,920 So, unfortunately, 845 00:42:27,640 --> 00:42:28,760 our ideas won't match. 846 00:42:28,840 --> 00:42:30,560 I will try convincing you to shut down your business 847 00:42:30,560 --> 00:42:32,760 to do something other than books. 848 00:42:34,160 --> 00:42:37,080 So, unfortunately, for these reasons, I'll stay out. 849 00:42:38,040 --> 00:42:40,400 - Okay! You have one offer. - You have one offer. 850 00:42:40,520 --> 00:42:41,720 Ritesh's offer. 851 00:42:41,920 --> 00:42:43,000 What would you like to do? 852 00:42:44,400 --> 00:42:46,120 [music playing] 853 00:42:46,920 --> 00:42:49,520 Sir, we would like to accept that offer. 854 00:42:49,640 --> 00:42:51,440 So, Ritesh, we accept your deal. 855 00:42:51,600 --> 00:42:54,040 Okay! Many congratulations. 856 00:43:14,120 --> 00:43:15,600 Hello, Team Zebralearn. 857 00:43:15,680 --> 00:43:17,760 - Firstly, congratulations on the deal. - Thank you. 858 00:43:17,800 --> 00:43:20,760 Secondly, I ordered things for you from Swiggy Instamart. 859 00:43:20,800 --> 00:43:23,720 - I ordered travel essentials as you met on a flight. - Perfect. 860 00:43:26,400 --> 00:43:29,480 - I buy a neck pillow at every airport. - Really? 861 00:43:29,520 --> 00:43:32,080 I am happy. It's here in 10 minutes. 862 00:43:32,280 --> 00:43:35,040 - When you go back use this. Thank you. - Perfect. 863 00:43:35,120 --> 00:43:36,960 - Here you go! - This is for both of you. 864 00:43:37,000 --> 00:43:38,760 - Thank you! - Please share it. Don't fight. 865 00:43:38,760 --> 00:43:39,920 - I won't share it, - Okay. 866 00:43:40,120 --> 00:43:41,840 No sharing. This is only mine. 867 00:43:42,040 --> 00:43:44,360 Guys, if you want to order something for someone, 868 00:43:44,400 --> 00:43:45,960 it could be anything. 869 00:43:46,000 --> 00:43:47,240 You get everything in Swiggy Instamart. 870 00:43:47,280 --> 00:43:48,840 Look, it was delivered in 10 minutes. 871 00:43:49,160 --> 00:43:50,160 Order now. 872 00:43:51,520 --> 00:43:52,720 [music playing] 873 00:44:15,560 --> 00:44:16,560 Sharks, 874 00:44:16,600 --> 00:44:19,360 our story began from a casual road trip. 875 00:44:19,520 --> 00:44:21,600 A beautiful journey from Delhi to Jaipur 876 00:44:21,880 --> 00:44:26,760 which made us realise the urgency of vocal for local in 2012. 877 00:44:27,080 --> 00:44:29,240 Near a luxury hotel building, 878 00:44:29,440 --> 00:44:32,680 there was a tiny 6x6 room, completely cramped, 879 00:44:33,000 --> 00:44:35,400 with no cooler or fan. 880 00:44:35,520 --> 00:44:37,280 And in the scorching heat, some artisans 881 00:44:37,440 --> 00:44:39,960 were intricately carving wood. 882 00:44:40,280 --> 00:44:43,000 But as beautifully as they were carving the wood, 883 00:44:43,240 --> 00:44:45,400 their conditions were not as beautiful. 884 00:44:45,600 --> 00:44:46,640 In fact, Sharks, 885 00:44:46,800 --> 00:44:49,640 they didn't want to involve their next generation in this business. 886 00:44:50,440 --> 00:44:51,880 And the main reason for this 887 00:44:52,080 --> 00:44:54,320 was that these products, made with so much love and hard work, 888 00:44:54,360 --> 00:44:57,200 remained purely decorative and not functional. 889 00:44:57,480 --> 00:45:00,320 Which is why they couldn't generate a regular income. 890 00:45:00,920 --> 00:45:02,720 To solve this problem, 891 00:45:02,920 --> 00:45:05,080 we started ExclusiveLane. 892 00:45:09,160 --> 00:45:10,480 We are from Gurugram. 893 00:45:10,560 --> 00:45:12,720 We are the co-founders of ExclusiveLane. 894 00:45:13,360 --> 00:45:16,000 It is an online home and lifestyle retail brand. 895 00:45:23,200 --> 00:45:26,760 We converted this into a table lamp and made it functional. 896 00:45:27,080 --> 00:45:29,480 We currently have five major categories 897 00:45:29,680 --> 00:45:32,800 where we have 22 art forms and 2,000 products. 898 00:45:37,760 --> 00:45:42,680 In fact, our artisans made India's first wooden spice box. 899 00:45:48,040 --> 00:45:49,720 In ExclusiveLane's family, 900 00:45:49,880 --> 00:45:51,520 there are more than 120 artisans 901 00:45:51,760 --> 00:45:53,920 who come from 14 different Indian states. 902 00:45:58,400 --> 00:45:59,960 each turn of the potter's wheel, 903 00:46:00,040 --> 00:46:01,560 and each strike of the hammer, 904 00:46:01,720 --> 00:46:03,360 they preserve a legacy. 905 00:46:04,680 --> 00:46:07,520 - Amazing! - We want to 906 00:46:07,600 --> 00:46:09,040 revive this craft. 907 00:46:09,160 --> 00:46:10,240 And our mission 908 00:46:10,400 --> 00:46:13,720 is to bring Indian craftsmanship to global homes. 909 00:46:22,040 --> 00:46:24,800 feel that their creativity matters, they matter. 910 00:46:25,960 --> 00:46:28,080 Kaushal and Dhruv, welcome to Shark Tank. 911 00:46:28,240 --> 00:46:29,520 - Thank you! - Thank you, sir! 912 00:46:29,720 --> 00:46:30,960 Tell us about your background, 913 00:46:31,040 --> 00:46:34,120 how you know each other, and how this journey started. 914 00:46:34,320 --> 00:46:36,480 What were you both doing before starting this business? 915 00:46:36,800 --> 00:46:39,880 We belong to a Bania family. We are Marwaris 916 00:46:40,080 --> 00:46:41,600 and third-generation entrepreneurs. 917 00:46:41,880 --> 00:46:43,680 We are first cousins. 918 00:46:43,760 --> 00:46:46,680 After my engineering, 919 00:46:46,800 --> 00:46:50,840 I worked for 1.5 years in a solar company startup. 920 00:46:51,080 --> 00:46:54,960 Since my college days, I wanted to do something in e-commerce. 921 00:46:55,080 --> 00:46:58,400 In 2009-2010, I used to read articles on YourStory. 922 00:46:58,480 --> 00:47:00,280 Where I read about e-commerce businesses. 923 00:47:00,400 --> 00:47:02,080 Flipkart used to sell books 924 00:47:02,160 --> 00:47:04,960 and Snapdeal focused on coupons. And eventually, 925 00:47:05,440 --> 00:47:06,520 they entered the category. 926 00:47:06,920 --> 00:47:08,280 Kaushal, what background do you have? 927 00:47:08,320 --> 00:47:10,240 Again, I did engineering. 928 00:47:10,400 --> 00:47:13,000 I joined my dad's business 929 00:47:13,200 --> 00:47:14,600 and developed my skillset there. 930 00:47:14,760 --> 00:47:16,360 And as a co-founder of ExclusiveLane, 931 00:47:16,560 --> 00:47:18,920 I handle vendor management, operation and finance. 932 00:47:19,120 --> 00:47:21,200 What business does your father run? 933 00:47:21,280 --> 00:47:22,760 They were into electronics. 934 00:47:22,880 --> 00:47:26,040 We were doing OEMs for Samsung, BPL 935 00:47:26,440 --> 00:47:27,280 and Onida. 936 00:47:27,400 --> 00:47:29,240 The OEM business 937 00:47:29,360 --> 00:47:30,960 is expanding rapidly, 938 00:47:31,040 --> 00:47:33,080 with many companies experiencing significant growth. 939 00:47:33,280 --> 00:47:35,240 So, is your dad's business going well? 940 00:47:35,320 --> 00:47:37,160 - We have sold that unit. - When did you sell it? 941 00:47:37,200 --> 00:47:38,200 In 2022. 942 00:47:38,280 --> 00:47:41,080 If you still had it, your business would've been great. 943 00:47:41,560 --> 00:47:43,600 There is a story behind this. 944 00:47:44,000 --> 00:47:45,280 The biggest fire 945 00:47:45,400 --> 00:47:46,920 in Sector 61 Noida 946 00:47:47,000 --> 00:47:48,680 - occurred in our factory. - Oh! 947 00:47:49,480 --> 00:47:51,880 - Sorry to hear. - It was one of the most dangerous fires. 948 00:47:52,560 --> 00:47:55,840 My dad and my uncle built that business. 949 00:47:56,120 --> 00:47:58,000 They were scaling rapidly. 950 00:47:58,120 --> 00:47:59,520 At that scale, an incident occurred 951 00:47:59,680 --> 00:48:01,400 and we couldn't manage it. 952 00:48:01,520 --> 00:48:02,440 - Sorry to hear it, - Sorry to hear. 953 00:48:02,520 --> 00:48:04,680 Eventually, we had to sell the business. 954 00:48:04,760 --> 00:48:07,040 No one got hurt, right? 955 00:48:07,120 --> 00:48:08,840 - No! All good! - All well. Good! 956 00:48:08,920 --> 00:48:10,800 When did you start ExclusiveLane? 957 00:48:10,880 --> 00:48:12,200 In April, 2012. 958 00:48:12,360 --> 00:48:13,360 It's been 12 years. 959 00:48:13,400 --> 00:48:14,440 - Yes! - Right. 960 00:48:15,040 --> 00:48:18,320 In April 2012, there used to be a website called Craftsvilla. 961 00:48:18,600 --> 00:48:21,080 - We sold our first product from there. - Manoj is my friend. 962 00:48:21,200 --> 00:48:23,440 Yes! We've met Mr. Manoj quite a few times. 963 00:48:23,560 --> 00:48:25,520 - Could you show us a few samples? - Sure. 964 00:48:25,760 --> 00:48:26,760 Yes, sir. 965 00:48:29,200 --> 00:48:30,640 Aman sir, a keyholder for you. 966 00:48:30,760 --> 00:48:32,000 - This one? Nice. - Yeah! 967 00:48:32,080 --> 00:48:33,760 Thank you! It's nice. 968 00:48:34,320 --> 00:48:35,320 - Kunal sir, this is for you. - This one? 969 00:48:35,360 --> 00:48:36,520 - Yeah! - This is that 970 00:48:36,960 --> 00:48:38,200 - famous... - Yes! 971 00:48:38,280 --> 00:48:39,280 Wall plate, sir. 972 00:48:40,040 --> 00:48:42,200 This is for you, Ritesh. Careful. 973 00:48:42,280 --> 00:48:44,160 Very nice! Look at this. 974 00:48:45,240 --> 00:48:47,480 - Wood! - Hmm, nice! 975 00:48:57,160 --> 00:48:58,280 This one here... 976 00:48:58,360 --> 00:48:59,560 That's pyrography, ma'am. 977 00:48:59,680 --> 00:49:00,520 What is that? 978 00:49:00,600 --> 00:49:02,840 There is a needle, which is heated and a shape is made. 979 00:49:02,920 --> 00:49:04,080 - Oh, wow! - It's an art form. 980 00:49:04,240 --> 00:49:06,360 The plate you see can be used in multiple ways. 981 00:49:06,480 --> 00:49:08,320 You can serve flatbread on it. 982 00:49:08,400 --> 00:49:09,520 - Ah, right! - What is this? 983 00:49:09,720 --> 00:49:11,240 In the past, art forms 984 00:49:11,400 --> 00:49:12,680 were only decorative in nature. 985 00:49:12,760 --> 00:49:15,720 Dhokra artisans are from Bastar and Chhattisgarh. 986 00:49:15,920 --> 00:49:17,440 - We... - This looks like Bastar art. 987 00:49:17,520 --> 00:49:20,120 Yes! We made it functional. This is a serving tray. 988 00:49:20,200 --> 00:49:22,440 Dhruv, did you get this product 989 00:49:22,520 --> 00:49:24,400 made by someone? 990 00:49:24,480 --> 00:49:27,480 No, sir. We work with 120 artisans. 991 00:49:38,000 --> 00:49:40,160 - For indigenous Indian products. - Correct. 992 00:49:40,280 --> 00:49:41,640 Why did you give this name? 993 00:49:41,840 --> 00:49:44,080 We started in 2012. 994 00:49:44,200 --> 00:49:46,360 We didn't have much knowledge of branding. 995 00:49:46,440 --> 00:49:49,040 When we used to visit craft fairs, 996 00:49:49,160 --> 00:49:52,400 they had dedicated a lane to each craft. 997 00:49:52,720 --> 00:49:54,960 This art is from Maharashtra, and this is from Bihar. 998 00:49:55,120 --> 00:49:57,960 That is what inspired us to start. 999 00:49:58,040 --> 00:49:59,880 In hindsight do you want to change the name? 1000 00:50:00,360 --> 00:50:02,400 No, sir. We've invested 12 years 1001 00:50:02,520 --> 00:50:05,080 and a bit of brand recall has been created. 1002 00:50:05,280 --> 00:50:07,720 We met a few contestants 1003 00:50:07,880 --> 00:50:09,160 and they said 1004 00:50:09,240 --> 00:50:10,880 that they have this spice box. 1005 00:50:10,960 --> 00:50:12,440 They didn't say that by looking at the brand. 1006 00:50:12,480 --> 00:50:14,120 They told you after seeing the spice box 1007 00:50:14,240 --> 00:50:16,200 - Right, sir. - He is talking about the brand. 1008 00:50:16,400 --> 00:50:18,200 I also think that ExclusiveLane 1009 00:50:19,880 --> 00:50:21,280 - is not... - Luxury... 1010 00:50:21,360 --> 00:50:23,400 More like a company that deals with roads, 1011 00:50:23,480 --> 00:50:25,520 as you've created a line at the bottom, 1012 00:50:25,640 --> 00:50:27,840 which usually divides roads, correct? 1013 00:50:28,000 --> 00:50:30,640 So, it's kind of odd for a category like that. 1014 00:50:31,440 --> 00:50:33,120 Sir, the first 4-5 years went by 1015 00:50:33,200 --> 00:50:35,440 - explaining to the artisans. - Yes. 1016 00:50:35,440 --> 00:50:36,760 When we entered this industry, 1017 00:50:37,000 --> 00:50:40,040 the artisans were not happy about the online marketplace. 1018 00:50:40,400 --> 00:50:42,440 "They used to think that we were a marketplace, 1019 00:50:42,520 --> 00:50:44,840 who will get an order of one piece and buy one piece from them. 1020 00:50:44,880 --> 00:50:46,320 The second biggest problem statement 1021 00:50:46,400 --> 00:50:49,040 that they used to counter often as there was no standardization. 1022 00:50:49,360 --> 00:50:51,000 Because we sell online, 1023 00:50:51,120 --> 00:50:52,320 we try to explain to them 1024 00:50:52,400 --> 00:50:54,160 that the photo of the product we have uploaded, 1025 00:50:54,200 --> 00:50:55,800 99% of the times, 1026 00:50:55,920 --> 00:50:57,760 despite the fact that it was made by hand, 1027 00:50:57,920 --> 00:50:59,160 it should look similar. 1028 00:50:59,400 --> 00:51:01,160 In the next 4-5 years of our journey, 1029 00:51:01,240 --> 00:51:03,960 we tried to scale up our system. 1030 00:51:04,240 --> 00:51:06,040 You tell the artisan 1031 00:51:06,080 --> 00:51:08,040 that you are not a marketplace. 1032 00:51:08,680 --> 00:51:10,320 You sell it as ExclusiveLane. 1033 00:51:10,440 --> 00:51:13,640 - Eventually, you are buying from them. - Yes, sir. 1034 00:51:13,720 --> 00:51:17,200 Basically, the inventory risk is yours. 1035 00:51:17,320 --> 00:51:18,680 - Right, sir. - The only difference 1036 00:51:18,720 --> 00:51:21,320 is that you claim to respect the artisans, 1037 00:51:21,400 --> 00:51:23,560 it just means you give a little more money to them 1038 00:51:23,640 --> 00:51:25,120 and talk to them nicely. 1039 00:51:25,440 --> 00:51:28,160 Sir, I would like to give you an example of a reputed company. 1040 00:51:28,240 --> 00:51:29,880 When we entered this industry... 1041 00:51:30,080 --> 00:51:32,160 - Fabindia. - We aimed to be like Fabindia. 1042 00:51:32,240 --> 00:51:35,240 The model was, Fabindia did offline for the last 60 years, 1043 00:51:35,400 --> 00:51:36,720 and we want to take it online. 1044 00:51:36,800 --> 00:51:39,040 When the artisans told us 1045 00:51:39,160 --> 00:51:41,160 that when they took their products to Fabindia, 1046 00:51:41,280 --> 00:51:43,200 they would be judged by their clothes, 1047 00:51:43,320 --> 00:51:47,400 beard, and state and were bargained with. 1048 00:51:47,640 --> 00:51:50,080 If the same product went through a designer, 1049 00:51:50,280 --> 00:51:52,000 they used to get their money. 1050 00:51:52,120 --> 00:51:53,680 So we always remained in the background. 1051 00:51:53,760 --> 00:51:55,920 So, we addressed that first. 1052 00:51:56,160 --> 00:51:57,840 We met the artisans directly. 1053 00:51:58,120 --> 00:52:00,400 - We met them... - You got rid of the middleman. 1054 00:52:00,560 --> 00:52:02,000 We eliminated the middleman. 1055 00:52:02,120 --> 00:52:03,520 Give me an example. 1056 00:52:03,680 --> 00:52:06,320 For how much did Party X buy this wooden box from artisans? 1057 00:52:06,400 --> 00:52:07,840 Suppose the wooden box costs Rs. 100. 1058 00:52:07,880 --> 00:52:08,880 - Yes. - Okay? 1059 00:52:08,920 --> 00:52:10,640 The artisan asked for Rs. 100, 1060 00:52:10,720 --> 00:52:12,000 which he should be given. 1061 00:52:12,080 --> 00:52:14,920 When they used to go to the retailer, 1062 00:52:15,120 --> 00:52:17,240 he didn't get the price he asked for. 1063 00:52:17,320 --> 00:52:18,400 He used to go back 1064 00:52:18,480 --> 00:52:19,760 and sell the same spice box 1065 00:52:19,880 --> 00:52:21,760 for Rs. 80 to the middleman. 1066 00:52:21,840 --> 00:52:25,160 The middleman used to give that to the retailer for Rs. 110 or Rs. 120. 1067 00:52:25,240 --> 00:52:26,520 How much do you buy it for? 1068 00:52:26,640 --> 00:52:29,080 We don't bargain with the artisans. 1069 00:52:29,160 --> 00:52:31,080 We buy it at the price they quote. 1070 00:52:31,280 --> 00:52:32,520 But once there is scale, 1071 00:52:32,680 --> 00:52:34,280 they used to agree to give it for Rs. 90. 1072 00:52:34,360 --> 00:52:35,760 There is a big game here, 1073 00:52:35,840 --> 00:52:36,640 and that game is, 1074 00:52:36,720 --> 00:52:38,160 as the scale increases, 1075 00:52:38,440 --> 00:52:40,480 - it is a little... - Volume... 1076 00:52:40,640 --> 00:52:41,800 - It depends on volume. - Yes! 1077 00:52:41,960 --> 00:52:44,320 There is no common thread in this brand 1078 00:52:44,440 --> 00:52:48,000 or the products of this brand. It lacks distinctiveness. 1079 00:52:48,280 --> 00:52:51,440 If I look at any product from any category, 1080 00:52:51,880 --> 00:52:53,200 is there one characteristic 1081 00:52:53,320 --> 00:52:54,600 that helps me identify that this is a product from 1082 00:52:54,640 --> 00:52:56,400 - ExclusiveLane? - You are right, sir. 1083 00:52:56,560 --> 00:52:58,600 We deal with 22 art forms. 1084 00:52:58,920 --> 00:53:01,000 It is not practically possible for us. 1085 00:53:01,080 --> 00:53:02,200 Take Warli art for example. 1086 00:53:02,280 --> 00:53:03,640 If you look at Warli products, 1087 00:53:03,720 --> 00:53:05,600 you will understand that these are wall plates, 1088 00:53:05,680 --> 00:53:08,520 vases, lamps, or coffee mugs. 1089 00:53:08,600 --> 00:53:13,000 There is distinctiveness. There is a theme and design. 1090 00:53:13,200 --> 00:53:16,160 When the customer thinks of ExclusiveLane, 1091 00:53:16,720 --> 00:53:20,800 - what should they think about according to you? - Home. 1092 00:53:23,040 --> 00:53:24,560 Sir, there are 75,000 1093 00:53:24,640 --> 00:53:28,400 daily searches of our brand on Amazon. 1094 00:53:32,560 --> 00:53:33,680 Please share the revenue. 1095 00:53:33,840 --> 00:53:36,000 In FY19-20, it was Rs. 8.5 crores. 1096 00:53:36,680 --> 00:53:37,960 Rs. 9.5 crores. Sorry! 1097 00:53:38,040 --> 00:53:39,960 And the year after that, it was Rs. 12 crores. 1098 00:53:40,080 --> 00:53:41,080 Rs. 15 crores. 1099 00:53:42,200 --> 00:53:43,760 And then our revenue was Rs. 18 crores. 1100 00:53:44,120 --> 00:53:45,560 The year after that was Rs. 22 crores. 1101 00:53:45,600 --> 00:53:47,320 Last year our revenue was Rs. 14 crores. 1102 00:53:47,560 --> 00:53:49,000 - Huh? - Rs. 14 crores. 1103 00:53:49,080 --> 00:53:50,680 - It came down to Rs. 14 crores from Rs. 22 crores. - Yes. 1104 00:53:50,720 --> 00:53:51,560 - We will talk about that. - That's fine. 1105 00:53:51,640 --> 00:53:53,280 - What is the run rate? - Will get to that and finish it. 1106 00:53:53,320 --> 00:53:55,960 - What is the current run rate? - Last month, in September, 1107 00:53:56,040 --> 00:53:58,320 our revenue was Rs. 1.66 lakhs. 1108 00:54:08,280 --> 00:54:09,320 We started doing B2B, 1109 00:54:09,400 --> 00:54:13,760 which is why the invoice value decreased by around 42%-43%. 1110 00:54:14,400 --> 00:54:16,840 Tell us about profitability. 1111 00:54:43,640 --> 00:54:44,880 40% is retail. 1112 00:54:45,320 --> 00:54:46,160 - Got it. - Okay. 1113 00:54:46,280 --> 00:54:48,480 We operate both P3P and 3P models, sir. 1114 00:54:53,480 --> 00:54:56,280 Be it B2B, B2C or anything else. 1115 00:54:56,400 --> 00:54:57,840 The same is happening with us. 1116 00:54:57,920 --> 00:54:59,040 Something is happening 1117 00:54:59,200 --> 00:55:00,800 that you are unable to communicate. 1118 00:55:01,200 --> 00:55:03,080 The revenue dip you're seeing 1119 00:55:03,240 --> 00:55:05,640 is because when we invoice retail partners, 1120 00:55:05,720 --> 00:55:09,680 it's 42% lower due to their margins and commissions, 1121 00:55:09,760 --> 00:55:11,040 which we have to pass on to them. 1122 00:55:11,080 --> 00:55:13,520 If you consider that billing, 1123 00:55:13,760 --> 00:55:16,960 the revenue from last year would be around Rs. 20 crores. 1124 00:55:17,320 --> 00:55:18,680 It is still flat. 1125 00:55:18,760 --> 00:55:20,440 - Yes. - Why is it not growing? 1126 00:55:20,840 --> 00:55:23,520 - Sir, last year we made some mistakes. - What? 1127 00:55:23,760 --> 00:55:26,040 We started a furniture category as well. 1128 00:55:26,160 --> 00:55:27,600 Oh no! 1129 00:55:27,920 --> 00:55:30,640 - We started selling organic honey. - Hmm! 1130 00:55:38,200 --> 00:55:39,720 No, sir. We are being honest. 1131 00:55:39,800 --> 00:55:41,640 You should've said it earlier. Because if we... 1132 00:55:46,320 --> 00:55:47,840 You should have just said it clearly. 1133 00:55:48,440 --> 00:55:50,760 The honey business is very different from this business. 1134 00:55:51,120 --> 00:55:53,840 Sir, ultimately, our vision... 1135 00:55:53,920 --> 00:55:55,480 - Fabindia... - Just like Fabindia, 1136 00:55:55,680 --> 00:55:58,800 we want to enter lifestyle and home products. 1137 00:55:58,880 --> 00:56:00,640 The lifestyle products include spices, 1138 00:56:00,760 --> 00:56:04,120 - fragrances, apparel... - Will you enter these categories? 1139 00:56:04,960 --> 00:56:07,600 Ultimately, the plan is to enter apparel. 1140 00:56:08,000 --> 00:56:09,640 - Oh! - Listen, Dhruv. 1141 00:56:10,120 --> 00:56:13,240 I... Kaushal, I asked you a question in the beginning. 1142 00:56:17,840 --> 00:56:20,680 You gave a one-word reply, 'home'. 1143 00:56:21,760 --> 00:56:23,800 I am disappointed with that answer. 1144 00:56:24,520 --> 00:56:27,320 Whenever I meet a founder who is creating a brand, 1145 00:56:27,400 --> 00:56:29,880 I often ask them, 'What do you want the customer to think?' 1146 00:56:30,520 --> 00:56:32,200 I see their eyes light up. 1147 00:56:32,320 --> 00:56:35,080 They just want to talk to you for one hour 1148 00:56:35,280 --> 00:56:37,800 about what they think the brand should mean to the customer. 1149 00:56:38,720 --> 00:56:41,200 I think there is no brand thinking. 1150 00:56:42,320 --> 00:56:44,040 We also run a huge marketplace. 1151 00:56:44,160 --> 00:56:45,920 Home is a big category for us. 1152 00:56:46,000 --> 00:56:48,160 We sell millions of such products. 1153 00:56:48,240 --> 00:56:50,560 And a lot of artisans make them. 1154 00:56:50,920 --> 00:56:53,040 But I noticed one thing 1155 00:56:53,160 --> 00:56:54,480 those who sell online, 1156 00:56:54,560 --> 00:56:58,200 either you're building a brand like boAt 1157 00:56:58,520 --> 00:56:59,920 or you're simply clearing the goods. 1158 00:57:00,680 --> 00:57:01,960 There's no harm in that. 1159 00:57:02,800 --> 00:57:04,360 But the mindset is quite different. 1160 00:57:05,280 --> 00:57:08,360 I think we've been clearing the goods for 12 years. 1161 00:57:09,560 --> 00:57:12,520 And... I know you want to make a brand. 1162 00:57:12,720 --> 00:57:14,880 But you either lack capability, 1163 00:57:14,960 --> 00:57:18,000 capital or patience. 1164 00:57:18,800 --> 00:57:20,960 There could be other compulsions. 1165 00:57:21,480 --> 00:57:23,120 There is a lot of work to do 1166 00:57:23,240 --> 00:57:24,800 to almost pivot the business 1167 00:57:25,000 --> 00:57:26,680 into what you actually want to build, 1168 00:57:26,800 --> 00:57:29,160 which is Fabindia 2.0. 1169 00:57:29,520 --> 00:57:31,160 For these reasons, today I am out. 1170 00:57:32,320 --> 00:57:33,680 Kaushal and Dhruv! 1171 00:57:34,360 --> 00:57:35,840 Why do you want investment? 1172 00:57:35,960 --> 00:57:37,520 To grow, obviously. 1173 00:57:37,640 --> 00:57:39,840 We want to expand internationally. 1174 00:57:40,160 --> 00:57:44,080 We were already selling in the Middle East and the US in 2014-2015. 1175 00:57:44,160 --> 00:57:45,880 We want to restart that. 1176 00:57:50,760 --> 00:57:53,480 Did you think if you did that we would feel connected? 1177 00:57:54,720 --> 00:57:55,920 Not a bad move. 1178 00:57:56,160 --> 00:57:58,040 But these nameplates 1179 00:57:58,360 --> 00:58:01,200 are found in every corner. You know that. They exist. 1180 00:58:01,400 --> 00:58:03,240 It barely takes two days to make them. 1181 00:58:03,320 --> 00:58:05,880 Do you expect me to look for a brand while buying this nameplate? 1182 00:58:06,560 --> 00:58:07,560 No! 1183 00:58:08,400 --> 00:58:09,600 We know a little. 1184 00:58:10,480 --> 00:58:13,320 If you continue down this path, 1185 00:58:13,880 --> 00:58:16,200 you can achieve 20%-30% growth 1186 00:58:16,280 --> 00:58:18,360 by pushing the vehicle with effort, 1187 00:58:18,440 --> 00:58:21,200 and opening different distribution points. 1188 00:58:21,440 --> 00:58:23,080 But if you want investment 1189 00:58:23,280 --> 00:58:24,960 the direction will need to change entirely. 1190 00:58:25,200 --> 00:58:26,680 Whether it's about building a brand 1191 00:58:26,920 --> 00:58:29,040 or creating a scalable, repeatable model. 1192 00:58:29,240 --> 00:58:31,720 Doing great work, helping artisans 1193 00:58:31,840 --> 00:58:33,720 and making money for yourself, you can achieve all of that. 1194 00:58:33,760 --> 00:58:34,760 I have no doubt. 1195 00:58:35,080 --> 00:58:36,920 But will you make this investable? 1196 00:58:37,040 --> 00:58:38,440 I have serious doubts. 1197 00:58:38,520 --> 00:58:39,760 For this reason, I am out. 1198 00:58:39,960 --> 00:58:41,520 - Good luck! - Thank you. 1199 00:58:41,600 --> 00:58:43,920 Your vision is clear, that you want to create a brand. 1200 00:58:50,560 --> 00:58:53,120 or invest in that direction as actively as you should have. 1201 00:58:53,840 --> 00:58:57,000 The artisans you are exclusively partnering with today 1202 00:58:57,560 --> 00:59:00,360 are your core competency. 1203 00:59:00,480 --> 00:59:02,720 I believe if you associate a brand with that, 1204 00:59:03,040 --> 00:59:04,480 you'll not only achieve growth 1205 00:59:04,560 --> 00:59:05,920 but also fulfil your aspiration 1206 00:59:06,000 --> 00:59:08,040 of ensuring that great craft doesn’t go to waste 1207 00:59:08,200 --> 00:59:09,320 and becomes successful. 1208 00:59:09,960 --> 00:59:13,160 Today, I feel that you haven't fully ventured down that path, 1209 00:59:13,280 --> 00:59:15,360 which is why I am out. All the very best. 1210 00:59:16,080 --> 00:59:19,160 I genuinely want to tell you that your designs 1211 00:59:19,440 --> 00:59:21,440 don't stand out. 1212 00:59:22,400 --> 00:59:23,480 But this does. 1213 00:59:24,160 --> 00:59:25,600 Right? This stands out. 1214 00:59:26,000 --> 00:59:27,480 I've always believed 1215 00:59:27,560 --> 00:59:29,440 that you should double down on your strengths. 1216 00:59:34,480 --> 00:59:36,240 and not just other things. 1217 00:59:36,520 --> 00:59:39,160 You should know what to say 'no' to. Say 'no' to honey 1218 00:59:39,240 --> 00:59:41,800 and other things that don't have differentiation. 1219 00:59:42,000 --> 00:59:43,160 And instead, 1220 00:59:43,240 --> 00:59:45,600 you need to double down on your strength. 1221 00:59:45,920 --> 00:59:49,080 I don't see that clarity in you. 1222 00:59:49,440 --> 00:59:51,000 For that reason, I am out. 1223 00:59:51,600 --> 00:59:54,160 But I found you very genuine. 1224 00:59:54,320 --> 00:59:56,560 Not just saying that for the sake of it. 1225 00:59:56,720 --> 00:59:58,800 You really care about the artisans 1226 00:59:58,960 --> 01:00:00,560 and that's really fantastic. 1227 01:00:00,680 --> 01:00:01,720 - Thank you. - Thank you! 1228 01:00:01,920 --> 01:00:05,040 I have seen these products a lot in places like Dilli Haat. 1229 01:00:05,200 --> 01:00:06,240 Everyone has seen them. 1230 01:00:06,360 --> 01:00:08,160 This is exploding the category, boss. 1231 01:00:08,240 --> 01:00:12,160 You should do something if you can. Push yourselves towards growth. 1232 01:00:12,240 --> 01:00:13,680 As we mentioned, 1233 01:00:13,760 --> 01:00:15,240 make it a brand. 1234 01:00:15,640 --> 01:00:19,320 You can do it. Currently, the growth seems stagnant. 1235 01:00:19,680 --> 01:00:21,000 And for that reason, I am out. 1236 01:00:22,080 --> 01:00:23,760 - Thank you, Sharks. - Thank you! 1237 01:00:23,840 --> 01:00:24,680 - All the very best. - All the best. 1238 01:00:24,760 --> 01:00:26,240 - God bless. - Keep the purpose going. 1239 01:00:26,360 --> 01:00:29,720 That's your exclusive lane to exit. 1240 01:00:29,920 --> 01:00:30,920 - Thank you, - Thank you, sir. 1241 01:00:30,960 --> 01:00:32,240 - All the very best. - Thank you. 1242 01:00:32,520 --> 01:00:35,440 [music playing] 1243 01:00:44,200 --> 01:00:46,800 Dhruv and Kaushal, welcome to PokerBaazi Zone, 1244 01:00:48,400 --> 01:00:50,560 We will do something unique today. 1245 01:01:16,680 --> 01:01:17,680 these five. 1246 01:01:18,000 --> 01:01:20,920 What you have to do is, there are business functions in business. 1247 01:01:21,040 --> 01:01:23,000 You have marketing, product, 1248 01:01:23,080 --> 01:01:25,760 there are operations and logistics specifically in your business. 1249 01:01:26,000 --> 01:01:28,520 So, you have to rank your top five for us. 1250 01:01:28,720 --> 01:01:30,480 Which is your first one? The straight! 1251 01:01:30,640 --> 01:01:32,000 I think, Human Resources. 1252 01:01:32,120 --> 01:01:33,920 Human Resource. Next! 1253 01:01:34,160 --> 01:01:35,680 - Next would be the product. - Product. 1254 01:01:35,800 --> 01:01:37,040 Product, okay. 1255 01:01:37,040 --> 01:01:39,480 - Then comes Marketing. - Okay! 1256 01:01:40,200 --> 01:01:42,040 - Next! - Sales. 1257 01:01:42,200 --> 01:01:43,200 Hmm! 1258 01:01:43,880 --> 01:01:45,360 And then, Business Ethics. 1259 01:01:45,520 --> 01:01:48,640 Business Ethics is your High Card. 1260 01:01:49,120 --> 01:01:52,200 This is quite interesting because, for the first time, 1261 01:01:52,280 --> 01:01:54,240 someone gave HR so much importance 1262 01:01:54,360 --> 01:01:55,680 to place it first. 1263 01:01:55,880 --> 01:01:57,440 Could you explain why? 1264 01:01:57,760 --> 01:02:01,320 - I think HR plays an important role in any organisation. - Yes. 1265 01:02:01,400 --> 01:02:05,480 - The team you have is what defines the company, right? So... - Hmm! 1266 01:02:05,640 --> 01:02:07,000 The company is a reflection of 1267 01:02:07,080 --> 01:02:09,280 - what people or teams we work with. - Hmm! 1268 01:02:09,360 --> 01:02:11,480 So, that's why I think it's the most critical role before 1269 01:02:11,520 --> 01:02:13,120 - Product, Marketing, Sales and Business Ethics. - Wow! 1270 01:02:13,120 --> 01:02:16,880 - So, I am assuming that culture is crucial in ExclusiveLane. - Yes. 1271 01:02:42,720 --> 01:02:44,840 would like to give you a ticket as an appreciation 1272 01:02:44,960 --> 01:02:49,240 to the National Poker Series 2025 worth Rs. 1 lakh. 1273 01:02:49,480 --> 01:02:51,000 It's hosted on PokerBaazi. 1274 01:02:51,120 --> 01:02:53,120 And the total prize pool 1275 01:02:53,240 --> 01:02:55,520 - is Rs. 100 crores. Here you go. - Thanks. 1276 01:02:55,600 --> 01:02:58,320 If you have the skills and strategy, 1277 01:02:58,400 --> 01:03:00,640 then visit PokerBaazi and make your winning hand. 1278 01:03:00,840 --> 01:03:02,080 Go and download the app now. 1279 01:03:02,240 --> 01:03:04,840 [music playing] 1280 01:03:07,360 --> 01:03:09,960 Jaquar presents Bringing Good Ideas To Life. 1281 01:03:14,160 --> 01:03:16,800 Be it impactful community-driven ventures 1282 01:03:16,880 --> 01:03:20,320 or even fun, energetic or quirky businesses. 1283 01:03:20,400 --> 01:03:23,400 Everyone has impressed the Sharks with their ideas 1284 01:03:23,480 --> 01:03:26,160 and taken advantage of their 'expertise'. 1285 01:03:26,400 --> 01:03:28,640 Guys, is it too overwhelming? 1286 01:03:28,720 --> 01:03:30,400 Don't worry, I am here. 1287 01:03:30,600 --> 01:03:32,560 This recap will remind you of everything. 1288 01:03:33,240 --> 01:03:35,440 'NearBook is a platform' 1289 01:03:35,520 --> 01:03:38,160 'where we can sell our old books' 1290 01:03:38,240 --> 01:03:40,320 'and buy them if we want to.' 1291 01:03:40,600 --> 01:03:42,640 'We've created GoPadFree,' 1292 01:03:42,800 --> 01:03:46,800 'which is India's first 2-in-1 period product.' 1293 01:03:46,880 --> 01:03:48,600 'It is leak-proof' 1294 01:03:48,720 --> 01:03:51,320 'and can be used up to 50 times.' 1295 01:03:51,400 --> 01:03:53,360 'Thank you, man. You did a great job.' 1296 01:03:53,440 --> 01:03:56,840 'Our flagship product is Moderate Calorie Crusher.' 1297 01:03:56,960 --> 01:03:59,320 'It gets rid of up to 40%' 1298 01:03:59,440 --> 01:04:03,240 'of carbohydrates and associated calories.' 1299 01:04:03,280 --> 01:04:04,680 'What you're claiming' 1300 01:04:04,760 --> 01:04:08,200 'could make this a revolutionary drug.' 1301 01:04:08,880 --> 01:04:10,240 'We've made Madmix,' 1302 01:04:10,320 --> 01:04:11,920 'which is baked, not fried,' 1303 01:04:12,040 --> 01:04:14,200 'less in fat and no added sugar.' 1304 01:04:14,280 --> 01:04:16,440 'Oh, my God! This is delicious!' 1305 01:04:17,200 --> 01:04:18,000 'I love 'paan'.' 1306 01:04:18,080 --> 01:04:21,360 'It tastes like raisin and feels like 'paan'.' 1307 01:04:22,200 --> 01:04:24,400 'Welcome to the world of demi-fine jewellery.' 1308 01:04:25,080 --> 01:04:27,280 'Along with our third co-founder, Shraddha Kapoor,' 1309 01:04:27,360 --> 01:04:29,160 'we're building India's most loved' 1310 01:04:29,240 --> 01:04:31,400 'demi-fine jewellery brand, Palmonas.' 1311 01:04:32,080 --> 01:04:33,160 'Why didn't Shraddha Kapoor come?' 1312 01:04:33,160 --> 01:04:34,280 'Your third co-founder?' 1313 01:04:34,360 --> 01:04:36,920 - 'She was very excited to come on the show. - Then?' 1314 01:04:37,120 --> 01:04:39,280 'But I told her that it was not her expertise.' 1315 01:04:39,360 --> 01:04:41,160 [laughing] 1316 01:04:41,280 --> 01:04:42,960 'I will drink my hair oil.' 1317 01:04:43,080 --> 01:04:43,800 'What?' 1318 01:04:44,080 --> 01:04:45,640 'Hair will start growing inside you.' 1319 01:04:46,520 --> 01:04:48,120 [gagging] 1320 01:04:48,280 --> 01:04:51,400 'Did you study where and why it failed?' 1321 01:04:51,560 --> 01:04:53,440 'Yes. I studied it' 1322 01:04:53,560 --> 01:04:55,080 'and was disappointed.' 1323 01:04:55,400 --> 01:04:56,520 [laughing] 1324 01:04:56,640 --> 01:04:59,000 'The investors were also disappointed.' 1325 01:04:59,800 --> 01:05:02,160 - 'My wife and I always watched it. - What?' 1326 01:05:02,360 --> 01:05:03,960 - 'Shark Tank. - What were your thoughts about it?' 1327 01:05:04,000 --> 01:05:06,600 - 'My wife liked it more than me. - Is it?' 1328 01:05:07,960 --> 01:05:10,720 'I'd ask her what she was understanding.' 1329 01:05:11,680 --> 01:05:13,400 'She'd applaud how inspiring it was' 1330 01:05:13,480 --> 01:05:14,480 'and ask me why I wasn't doing anything.' 1331 01:05:14,520 --> 01:05:15,720 'Oh! Superb!' 1332 01:05:17,760 --> 01:05:19,760 'You have a gold mine product.' 1333 01:05:19,960 --> 01:05:20,960 'Just go very deep.' 1334 01:05:21,040 --> 01:05:22,320 'No need to do 20 other things.' 1335 01:05:22,360 --> 01:05:24,240 'In the last two years,' 1336 01:05:24,400 --> 01:05:25,600 'the level of entrepreneurship has gone up.' 1337 01:05:25,640 --> 01:05:27,360 'The quality of entrepreneurs, ' 1338 01:05:27,440 --> 01:05:30,400 'business plans and ideas' 1339 01:05:30,520 --> 01:05:32,160 'is remarkable.' 1340 01:05:33,960 --> 01:05:35,640 'Not only India!' 1341 01:05:35,720 --> 01:05:38,400 'I believe global entrepreneurs will now come from India.' 1342 01:05:38,480 --> 01:05:39,520 - 'Absolutely! - Right.' 1343 01:05:41,400 --> 01:05:43,080 'You will build a global company.' 1344 01:05:44,480 --> 01:05:46,560 'Hats off! I salute you from the bottom of my heart.' 1345 01:05:51,160 --> 01:05:53,680 All the pitchers proved one thing. 1346 01:05:53,760 --> 01:05:56,400 Proudly made in India for the world, 1347 01:05:56,560 --> 01:05:57,880 just like Jaquar. 1348 01:05:58,240 --> 01:06:01,200 'Shark Tank India, co-presented by Acko Insurance,' 1349 01:06:01,280 --> 01:06:03,320 'PokerBaazi and Swiggy Instamart,' 1350 01:06:03,400 --> 01:06:06,040 'co-powered by Adani and Jaquar Bath and Lights,' 1351 01:06:06,160 --> 01:06:09,920 'partners Rayzon Solar, ICICI Direct and Lenskart.' 1352 01:06:17,560 --> 01:06:19,520 The founder with us today 1353 01:06:19,600 --> 01:06:22,440 talks Hindi so beautifully that his Hindi teacher 1354 01:06:22,520 --> 01:06:25,240 would study at home out of fear of his questions. 1355 01:06:25,360 --> 01:06:28,880 Mr Ritesh Agarwal, Founder and Group CEO at OYO, is with us. 1356 01:06:32,680 --> 01:06:34,080 I am excellent. 1357 01:06:34,160 --> 01:06:35,320 That's excellent. 1358 01:06:35,400 --> 01:06:38,440 You've vowed to converse well today. 1359 01:06:38,520 --> 01:06:41,560 I came for a discourse. But if you want to converse... 1360 01:06:41,680 --> 01:06:43,000 We can do it. Sure! 1361 01:06:43,080 --> 01:06:46,240 I want to say it briefly 1362 01:06:46,640 --> 01:06:48,920 - if you allow. - Sure! You're permitted. 1363 01:06:49,000 --> 01:06:51,680 Today's question was asked by Abhinav Singh, 1364 01:06:51,760 --> 01:06:53,520 who is from Pune and is 32 years old. 1365 01:07:12,720 --> 01:07:14,040 His question is, 1366 01:07:14,200 --> 01:07:17,200 how long can companies thrive with a loss? 1367 01:07:17,880 --> 01:07:19,720 So, our business was always profitable 1368 01:07:19,840 --> 01:07:22,840 when we started OYO at a hotel level. 1369 01:07:23,080 --> 01:07:26,320 However, we invested more in fixed costs 1370 01:07:26,440 --> 01:07:29,400 like marketing and technology to scale up. 1371 01:07:29,600 --> 01:07:32,480 - There are two types of companies. You must've heard on Tank. - Yes. 1372 01:08:06,800 --> 01:08:09,560 See you in our next Ask the Shark with a new question and a new shark.