This silky hair.
These beautiful eyes.
People are living looking at them.
You all might have heard about
hair in old poems and bollywood songs.
But nowadays because of lifestyle issues
such as stress, pollution
and terminal issues
hairloss has become a very serious issue.
And millions are struggling.
What if
we had a magic mirror?
A magic mirror were we can see ourselves
the way we want us to look.
So far this magic mirror has been only a concept.
But today we are here
with that magic mirror.
Introducing hair originals.
My name is Piyush.
My name is Jitender.
My name is Ashish.
Hair Naturals is the first Indian brand
which manufactures 100 percent natural hair extensions.
Different kinds of hair extensions.
For example, permanent hair extensions
which is in high demand in the market.
Temporary hair extensions.
For example the DIY kind hair extensions.
And the wigs.
We manufacture hairs of all these categories.
And we make them reach the end consumer.
That's fine.
But if a small town girl of Uttar Pradesh
wants to get 100 percent natural
hair extension done
how she can do it?
Radhika can visit
our website from her home
and can purchase
her favourite hair extension.
Along with that
she can choose a saloon located in Aligarh from where
she can get the hair extension installed free of cost.
That means an end to end solution
at a price of one third of the market price.
Every year India exports hair worth millions of rupees
to the entire world.
Because India is the only ethical source of hair.
Those ethical sources are our temples
where people donate their hair.
Our vision is to turn hair originals
into a global brand by being at this source
and make our product reach people all over the world.
My request to the sharks is
Rs. 60 lakhs for 2 percent equity. - Wow!
We would like to show you a demo of our products
on a model.
Sure. - Sure. - I thought you'll use yourself as a demo.
in our business.
- No, this is original. - Are they natural?
- From where are you coming? - Hi, Sharks.
This is my hair.
Isn't it good?
Very beautiful.
Now let me show you my original hair.
Anupam, remove your hair too.
This is my hair which is very thin.
But thanks to hair originals
which gave volume to my hair.
- Very good. - Beautiful..
- Welcome to Shark Tank. - Thank you.
First I would like to know whose hair gave this idea.
I finished my B Tech from IIT Delhi
in 2008.
Then for eleven years
I worked in approximately 40 countries. - Wow!
When I stayed in Angola, France
US, etc
many of my colleague's wives requested me to bring
hair for them from India.
Our co-founder Mr. Ashish
is from IIT Kharagpur.
I called him from the USA.
I asked him a simple question.
'What will you do'
'if you find a lot of hair in front of your house?'
- The answer is obvious. - He said he will throw it away.
Didn't you disconnect the call?
He would've but he couldn't after hearing the next line.
I said, what's outside is silver.
The B to C cost
of this product in the USA market
is more than that of silver. - Wow!
- Per gram. - Per gram.
So, this is a high value
high margin product.
When we started working on this project
us and our team understood that we need more expertise
at departments such as manufacturing and other things.
We set up our manufacturing factory.
Piyush is my friend
and he had experience in manufacturing.
So this is how it started.
Extension market will replace hair colour?
- It can. - Yes, it can.
Because if you..
Perhaps you know better than me.
When a female applies colour on her hair..
Maybe she has used a good brand
but even after that, eventually, to some extent..
The problem is.. Shall I answer this question?
- It's an additional information. - Do you use hair colour? - Yes.
Because bright colours..
It's difficult to get highlighted on dark black hair.
It's my dream to colour my hair red.
But it's not possible on my hair.
What's your sales figure till now?
We.. Just before Covid..
We launched our product in the market in December, 2019.
Because that, we researched for around 2.5 years.
If we talk about this quarter, this financial year
in last 5 months
our sales figure is around 2.5 crore. - Wow!
- 2.5 crore. - Great! - 2.5 crore. Amazing!
- What about the last month? - Around 55 lakhs.
What's your source? And what's the costing
post manufacturing and sourcing? How much is the margin?
Okay. As far as the sourcing is concerned
our sources are primarily the temples of South India.
- I see. Wow! - We have set up
our manufacturing unit in Gurgaon.
As far as gross margin is concerned
- it's around 60 to 65 per cent. - Wow! Lovely!
Tell me one thing. Are you making money?
- We are making profit. - Do you draw salaries?
- Not yet. - We don't draw salaries.
If you draw salaries, it will be loss, right?
No. Approximately..
We have calculated our PAT. It's around 15 per cent.
How much.. How much do you earn in terms of value?
- Around Rs. 7.5 to 8 lakh. - Yes.
Is the company in your name?
- Yes. - Anyone else..
No, initially, we raised angel round funding.
Funding amount?
We raised around Rs. 1 crore.
- And.. - Rs. 10 crore. - For that..
- The valuation was Rs. 10 crore. - What's this brand name?
Will you be able to protect?
These are generic words. Hair Originals.
How will you make it a brand?
We have registered the trademark.
Okay, but you will face challenges.
It's a good business.
You can crack it. You were from IIT.
You are talented people. You have a good team.
But you need someone who can make it a brand.
Don't you think so?
When they came, you said the brand is not good.
- Yes. - It's a good brand.
Please let me put the red hair.
- Do it later. - Go for it. Let her do this.
- Let her.. - It's my childhood dream, Aman.
Let her fulfil her dream.
Wow.. I love the look.
- I love the look. - Awesome! I love it.
- It's fantastic. Keep it.. - See in the mirror.
- Amazing.. - I can feel I am looking good.
Mind-blowing!
Vineeta and I want to give you an offer.
We think your old valuation is fine.
We want to match the valuation.
- Say the percentage. - Rs. 60 lakh. - Rs. 60 lakh.
For 10 crore valuation.
- So it comes.. - 6 per cent. - 6 per cent. - 6 per cent.
- Equity. - Done.
- Rs. 60 lakh. - For 5 per cent - Three.. - 5 per cent.
There are three sharks.
- Peyush, Anupam and me. - You don't need them. - And..
- The technological angle.. - I know.
- You will make it. - You know.. - Don't worry. - Technology..
- We will make it a brand. - And in D2C
I can help you.
We will sell as BNPL. Buy now pay later.
Your consumers are young girls.
Who are my consumers? Exact the same.
Young girls. - And I don't need to say about me.
- No, Jiten.. - Listen to me.
- You.. - Please stop for a while.
You are smart. Look
You know validation is important.
You have come here.
Five sharks have validated this.
Okay? On TV.
Nothing is left. Branding is done.
- Cheque is ready.. - What I want to tell you..
- Cheque is ready.. - You have two offers.
- One offer is.. - Yes. - There are three sharks.
Anupam, Peyush and Ashneer.
Rs. 60 lakh for 5 per cent equity.
On the other side, Vineeta and I.
Same offer. Rs. 60 lakh for 6 per cent equity.
Now you give a counter offer.
Go outside and discuss.
Come back and think
who will be the most useful for you.
Please go.
Hey, Vineeta. Don't let them go.
Yes. - They will be convinced We will fight.
- They will come back. - Yes.
We will fight if it's needed, okay?
Okay.
If we say 4 per cent, they will accept it.
If we say 3 per cent, they won't accept.
Shall we offer 4 per cent?
If we offer 4 per cent, how much it will be?
But there are three persons..
I see.
Till yesterday, you were fighting with Vineeta.
- You said.. He knows.. - 'I won't deal with you.'
I see. 'If Vineeta makes a deal'
- 'I will break that.' - No, I don't have.
Everything has changed now!
- All right, guys. - Wow..
- What have you decided? - What have you decided?
Will you make a brand or..
Or you won't do anything?
I want to ask Ashneer and the rest of you
if we can make a counter offer
- of four percent of the equity. - Of course.
Vineeta and I will make a counter offer.
You can have both of us for four percent.
Do you accept?
- Deal? - Vineeta and I..
- Don't you want Vineeta? - Since it's a counter offer
- can you tell us.. - Four percent.
- Vineeta and I. - Four percent.
- Let him make a counter offer. - Hear him out first.
Yes or no? Vineeta and I for four percent.
This is unfair. You cannot force them.
Give him respect.
Are you going to make a deal with an investor
who doesn't respect you?
Wait. Make a counter offer first.
- The original one.. - Vineeta and I
for four percent.
Ashneer, Anupam, and Peyush..
Do you accept the counter offer of four percent?
- Accepted. - Done.
- Okay.. - Okay. - Well done.
Congratulations.
Silence.. Aman, Silence is golden.
- Congratulations. - Our money got saved.
- I will write the cheque. - Thank you.
I won't return the hair.
- I will take it home. - Yes.
Let's take a photo.
And we will bring deals from Aman's brand too.
- Thank you. - All the best.
- Thank you.
Vineeta, whenever we have teamed up, I have lost.
- Hello, my name is Aditi. - Hello.
I am the founder of 'Essentially Happy Marketing'.
I am 44 years old and I am a resident of Mumbai and Dubai.
We have launched India's first pre-toilet spray.
Pre-toilet spray is used before using the toilet.
Like how we use air fresheners and aerosols
after going to the toilet, hoping that it will
reduce the bad odour.
But maybe, that does not happen.
But still, we use it.
Because, it is embarrassing to have a smelly toilet.
And getting caught is devastating.
Introducing 'Poo De Cologne'.
It has hundred percent pure essential oils.
Before using 'Poo De Cologne'
spray it a few times in the toilet bowl's water.
Its essential oils will make a layer on the surface.
This layer will lock the bad smelling gases beneath it.
It will not allow it to spread in the air.
You can make it smell great
in just five to six sprays.
And you will get the confidence of having a fragrant toilet.
'Poo De Cologne' is not only meant for domestic use.
It should be used in restaurants, cafes, malls
co-working spaces, and co-living spaces.
It is useful during travelling.
And it is a must for honeymooners.
Currently, we have five variants.
The floral variant is 'Poopsie Daisie'.
Our minty variant is 'Poops A Lot'.
'Mask A Poo' is the woody variant.
The pine variant is 'Poop Essentials'.
And the citrus variant is 'Pooparazzi'.
Love the names.
To make 'Poo De Cologne' the most widely used
pre-toilet spray in the world
I want your mentorship
and 75 lakhs for five percent of my company shares. - Wow!
So, are you ready to make 'Poo De Cologne'
the number one solution for the problem of number two?
- Amazing. - Great pitch.
Very good presentation, Aditi.
We will get to the product later.
But first, tell us how you came across this toilet seat
during your journey between Mumbai and Dubai.
I have experienced this product in Europe.
I have worked in advertising and marketing.
I have always wanted to launch my own brand.
When I saw this product
I thought that India needs it.
Because, it's a heavily toilet sharing market.
When did you start this job?
This was launched in February of 2021.
- Did you just start it recently? - Yes.
That's great. How do you come up with the names?
Did you come up with those?
Or is there anyone helping you with it?
My daughter and I.
My daughter says that the men's range should be pooper man.
Cool!
How old is she?
- She's 12. - 12?
- Okay. - Waking up in the morning
and before we go for it we must perform the procedure.
Then we can go. Is that how it works?
Yes. Especially, if you're sharing the toilet.
Or if you are in a hotel that has a small toilet
and lacks ventilation.
Even guests have to use toilet at home.
It can be used in every condition.
Atleast after a Biriyani dinner for sure.
Biriyani... Indian food
usually is very flavourful.
Lot of aromatics are used.
That's true.
I have seen this product in the US.
- Okay. - I liked it.
- Yes. - The problem
is that like Aman said it has to used frequently.
That's what even I felt then.
Start a version which can be attached to WC.
Layer itself with the flush water.
Isn't that a better product as against
spraying it everytime. It call for behavioural change.
It needs a spraying mechanism to create the later.
I have a solution that is for the next level.
A box on the side that works on the basis of sensors.
If you're urinating you don't have to touch the sensor.
Further ahead, you must touch sensor and it will work.
There's one mechanic that works that way. But that's level 2.
Once you got this idea
executing it in a category
is a big deal.
Looking for a new thing searching for suppliers
- is a big deal. - Right. - Congratulations for that.
Thank you.
But this is not business.
As per me this product won't work after a level.
Will be a bit gimmicky.
Hence, I would opt out of the business.
The fact that if it works in
US it will work in India... - Yes.
That usually doesn't work
because using Indian consumer mentality
one must see and products are too unique.
Hence, I would like to opt out of it this time.
What are you numbers? Sales numbers...
Leaving corona's 3 months
we have made a sale of 4.5 lakhs.
What was the last month's sale?
A monthly average sales of 75, 000.
- Where do you sell it? - On Amazon, Flipkart
- and Trell. - I am an investor at Trell.
- Yes, Trell... - I'll find out now.
What is the monthly growth?
Since we are trying different things
there have been ups and downs.
- That needs to be monitored. - Gross margin?
Production cost is Rs.65 and we sell it at Rs. 555.
Wow... How long does it last?
400 sprays per bottle.
Can be used for 80 times.
A family of three can use it for a month.
Rs. 500 for a month?
Rs. 555. - One can get a phone connection at half the price.
People are buying. You will be surprised.
I thought it will wok only in a metro city.
But if you see even tier one and tier two towns
has equal demands and we see repeat purchases there.
Okay, thank you. Let me think.
Thanks.
I have made my decision too.
I am out of it too.
You must pursue it but I don't find it investible.
Specially this category.
I decide to opt out too.
I would be interested if you had a different version.
The automated version but not with this.
So I am out.
While I am interested
I feel it is too soon.
- You must work harder. - Okay. - Prove yourself more.
Then you may go for funding.
Hence, I am out. But I wish you the best.
I think you'll do well.
thank you very much.
What happened?
Can't you see? I am suffering from stomach ache.
This is what will happen if you eat junk food.
Don't accuse me. Just give me a solution.
Wait!
Good actors.
Have papaya.
How can I eat it like that? Who will peal and chop it?
Don't worry, friends. We have Falahari.
Falahari is the biggest fresh fruits brand of India.
You may order more than 200
fruit salads, juices
'lassi' and yoghurt.
And a lot more.
It will be delivered to your place in 35 minutes.
Greetings, Sharks. I am Gulshan!
I am Rahul.
I am Dhruv.
We are Team Falahari.
We are here
to offer 2 percent equity at 50 lakhs investment.
Welcome to Shark Tank.
How do you guys know one another?
Are you siblings or friends?
We are friends.
I am passed out as a mechanical engineering
from Punjab University in 2013.
I graduated from IIT Bombay in 2013
in Electrical Engineering.
I worked in McKenzie for 2 years.
From 2013, Gulshan and I stayed together in Gurgaon.
Gulshan was working on a technology start-up.
V-stick services private limited.
After 2 years we realised
we must do something we have hands-on experience in.
Something that is problem solving.
That's how Falahari was established.
Rahul was my batchmate from IIT Bombay.
I finished my Electrical engineering from there in 2012.
I finished my MBA from IIM Bangalore in 2013-2015.
Wow... - I was working as a strategic consultant in Dubai.
I kept interacting with this very nice friend
from engineering
I got connected to Gulshan and I got connected to Falahari.
I was Falahari's first investor in 2020. - Okay.
We have been looking at Falahari's growth this year.
From a few centres in Gurgaon to other cities in the nation
I joined in as a growth in-charge.
and we are taking it to new heights this year.
Would you like to try the products? - Fruits?
We have had enough fruits.
- No, a prepared product. - Bring it on.
Let us taste. Tell me this.
- Gulshan... - Yes.
Who among you is the CEO? You or Rahul?
- I am the founder and CEO. - Let's have juice.
Falahari is trying
to get 25 exotic premium seasonal fruits
that are available in the market
in a customised form to the end customer.
What is the problem statement?
- What are you solving? - There's a problem statement.
I too need fruits when I am sitting at work.
I can order it then. That is the problem statement.
Office... - Office...
I want to to understand the business model.
We can get it from the cart in the market.
Who does that while at work?
Who will chop the fruits at work?
Coming back to it.
I sold 35 crores of fruits in a month in Grofers.
- Okay. - No one thinks about the fruit.
I think about the fruit.
I need fruits in the evening at work.
A complicated process. I am interested.
- Don't talk there. - I am interested. - Me too.
Tell me your numbers. What have you done? And why?
- That's it. - Around fresh fruits
no brand has been built in the market.
- There is. - I would like to know.
There's one in Delhi but I don't remember the name.
I used to buy fruits from them
but I don't see their commercials now.
I doubt if this business will end up in a loss.
You were explaining that fresh fruits have no brand.
- It so... - I remember the name.
Fruit Smith.- They deliver whole fruits.
- They deal with that. - If I chop the fruit
I can manage that.
Do you have 400 grams of fruits every morning?
One who wants to eat eats it.
You can't give it to the one who doesn't want to eat.
Then you can stay out. We will talk to them.
I will be out. What's the hurry?
- What is your scale? - Last month
we have generated a revenue of 20 lakh rupees.
Oh no!
Last to last month it was 17 lakhs.
- Very bad. - So, roughly you generate
five lakhs in one city.
Okay be it six, seven or eight or ten lakhs..
What's your marginal profit in this 20 lakhs?
There's no profit. Right?
Profit.. 25 percent is the margin. - The margin.
Now we are investing in discounts
- and marketing costs.. - What's the price of this jar?
250.
- 250 per jar? - Yes, 250.
- Okay. - What's your current wastage?
It's less than five percent, sir.
If you buy the stuffs from someone and store them
and again if you shift that stuff..
You will have five percent wastage there only.
The wastage of the peel is different..
The rotten ones.. - I'm not talking about the peels.
- It's about the rotten one. - The rotten ones.. Yes.
I will tell you two things.
Firstly, it's really tough to make a brand in this sector.
Because this is fruits' business.
So you can't create that differentiator.
Forget about the brand.
Maybe you can used such a technology
and break the supply chain in such a way.. - Yes.
...that you can sell the fruits in the minimum rates.
If that's the case then explain.
Sir, let me explain it once in details
about who we are and what we are selling.
Okay, for two minutes we will not say anything.
- Okay. - Okay? Two minutes.
- For two minutes we'll not talk. - Yes, you have two minutes.
Time starts. - First thing, we are not fruit sellers.
We generate 90 percent of our revenue
from the innovation we have done in our recopies..
From the juices health drinks and our health oriented
fruit clinic products.
We have done four main innovations.
First, procurement.
We manage one product in different ways.
If it's raw then we use it for the salad.
It it's a little ripe then we make juice.
If it starts melting then it will be blended.
If any brand in India makes only smoothies
or only sells fresh fruits..
Or if they make it only a juice brand..
...then there will be a wastage of 40 to 50 percent.
Until and unless..
One fruit brand..
As the fruits age, as they become ripe and then melt..
If that brand doesn't introduce products accordingly
then they can't bring down the wastage to five percent.
From a few centres in Gurgaon to other cities in the nation
that we can't bring down the wastage to five percent.
We have cracked this in procurement.
Second is our innovation in the product.
We have managed the taste of all these products
for over six years with lot of innovation.
Rate at which we get repeat customer is surprising.
70 percent of the daily customers are repeat customers.
So, we could survive the COVID wave
or any other disruption due to that stickiness.
Rahul has particularly worked so advanced in the tech
that we have completely cracked two main problems
regarding fruits.
One, fruit is a matter of varying prices.
Our pricing in 'Zomato' or 'Swiggy' dynamically changes
so that the old fruits get sold first.
The send thing is a matter of choice.
I need 25 different fruits. I need exotic fruits.
I want to eat dragon fruit.. I want to eat two slice of kiwi.
This option is not available.
So according to the choices of the customers
our tech detects..
Suppose you eat watermelon daily.
Why don't you subscribe?
Ma'am, you keep a fast on every Saturday
when you eat one diet.
We will give you one fasting special offer
as a subscriber, as a discount.
Once the repeat rate increases
we make them our subscribers and increase
our direct customers.
And we are working through our tech
in this model, in this journey.
- Okay. Great sells pitch. - Very nice. - You..
You quit and make him the CEO.
You remember the monologue of Kartik Aryan
in 'Pyaar Ka Punchnama'.. He delivered it like that.
- Very good. - Now, I'm impressed. - Dhruv..
You invested the money, right?
Yes. - That's why you could give this speech.
How much money have you invested?
I have invested only five lakh rupees, sir.
What's the burn rate?
- Five percent burn.. - Rate per month?
One to 1.5 lakh per month.
You don't invest your salary?
We have included our salaries in the expenses.
How much is the amount?
- 50 thousand. - 50 thousand rupees.
- 50 thousand. - It's too low.
Look, they are taking so much time.
I am obviously interested in you, as entrepreneurs
and there is problem.
That people want to eat fruits but they are not available.
But your model and scale are rubbish.
So, this is the current situation.
It's not rubbish, it doesn't exist. - So..
On the basis on that.. Because your business
doesn't have any scale..
I was thinking of giving you 50 lakh for 10 percent.
But now, after seeing
that others are also interested
I will offer you eight percent.
I'll offer Rs. 50 Lakhs for eight per cent..
- You're making the offer? - Yes.
Well done. Very good offer!
I'll speak to stop you from getting too happy
after getting that offer.
Shut up for a while.
If you open a fruit juice stall
outside an ITO, and that's it
you'd make more money.
You're all wasting your lives.
You have no business.
- You do We're not.. - Let me finish..
You have no business.
You were working in McKinsey!
Anything you get into
even if you join a start-up
you'll make crores a year.
- What's this you're doing? - He's doing well.
I'm out of this
and I tell you not to accept
any offer you get here. Stop this business.
You don't have a fruit business. It's a fool business.
- Correct. - You're fooling yourselves.
Correct.
Look from a higher perspective
and you'll see that this business isn't scalable.
For this reason, I'm out.
I wish you the best.
I've made my decision too.
I'm out of this.
I don't get who between you three is the CEO.
- I'm the CEO. - You're the CEO
however, he's selling the business.
I'm confused who will talk to the investor
you or him.
That's a good feedback. What stake do you three have?
Mine is 75 per cent.
Yours is 75 per cent.
- Mine's 15 and Rahul.. - For this reason, I'm out..
- And yours is 10? - 1.5 per cent.
- 1.5 per cent? - Yes.. - And you have
the best pitch. It's an even bigger problem.
Let me tell you something.
You three stand at the starting point
and you've already decided
that one's 25 per cent better than one
and the other is five per cent better?
To give one guy 75 per cent of equity?
I don't get this.
Why aren't you giving them equity?
Why should one dedicate their life for 1.5 per cent of equity?
You're going to divide them!
Poor guys.. - That's correct. They should have a fight!
This thing about equity isn't over some greed, sir.
How not? You're the greediest here.
He's just joined.. - What have you accomplished so far?
Your business is still zero.
Rs. 20 Lakhs is very little sales for this business.
- You've made an offer, though. - Yes, I have
but it has a condition that he should get
at least 15 per cent of equity.
Talk only to Vineeta and me now.
I had a cheque ready
when I found out that you have 1.5 per cent of equity
and suddenly, my head's spinning.
What the heck are you?
Sir, my percentage of equity
isn't because of my founding role
or employment roles.
I bought this 1.5 per cent with Rs. 5 Lakhs.
The most important factor is that
90 per cent of equity is with us founders.
We've only diluted 10 per cent
and raised Rs. 1 Crore with that.
Now, we have 90 per cent.
Why didn't you inform us before? Where did you sell it?
Our first investment raising was in January 2020
on the valuation of Rs. 5 Crores.
We raised Rs. 20 Lakhs. In that round, Druv had
invested Rs. 5 Lakhs.
And in the October of last year
we raised Rs. 17.6 Lakhs
for the valuation of Rs. 10 Crores.
Against for the valuation of Rs. 10 Crores, we raised
Rs. 31. 4 Lakhs in March 2021.
And later in August, we raised Rs. 31 Lakhs
for the valuation of Rs. 25 Crores.
Oh, God.. How are our investors valuating you guys?
So your biggest round is going to be on 'Shark Tank'?
Which is gone.
I.. Let me tell you, I'm out of this.
My conditional offer stands. Think and tell me.
We'll talk about it.
Please.
- What's wrong with you? - They got an offer..
I find this category interesting.
No matter how good an entrepreneur
if they can't sell their business
they'll never have a business.
Exactly!
- Tell us. - Go ahead, Mr. CEO.
No.
Okay. - I understand where you're coming from.
Best of luck.
- Thank you. - Please solve this problem
with fruits for lazy people like me.
Don't solve any problem.
- Find another problem to solve. - No, this is a problem.
- I disagree. - You're going to be finished.
My blood is boiling
that you've wasted three degrees.
No, you guys are doing well.
Go ahead.
Thank you.
We're disappointed that we didn't get the deal.
This has taught us a lot, though.
We'll learn from this experience and use it
in our business.
We'll increase our efforts and..
Let's hope that
things go well for us after this experience.