'Where culture and elegance come together'
'that place is called Lucknow.'
'We the people at 'Isak' are from these streets.'
'We give people their identities through fragrance.'
Greetings to all the Sharks.
I am Vidushi Vijayvergia
from 'Isak Fragrances', Lucknow.
I belong to a family in India
who has been making perfume for the past 160 years.
Where there is fragrance, there is health.
I grew up in a perfumery
and around its ingredients and composition.
This is a leather skin bottle. Actually, it is camel skin.
Two hundred years ago, when glass bottles were
not popular, these bottles were used.
In fact, I can say that more than the smell of a kitchen
I connect with the fragrance of perfumes in a lab.
This is 'Khus'.
This bottle must be at least 100 years old.
After getting married, when I relocated to Switzerland
with my husband, I researched about French perfumery market
and their trends, during my two years there.
- Wow! - I found their business model
very interesting.
And I realised that 150 years ago, we were doing the same.
We were making perfumes for the rulers and noble men.
After spotting that gap, I started my own business
using the knowledge received from my family
and my experience, and named it 'Isak Fragrances.'
In the first column, these labels will be put.
Okay.
This one..
Can you empty this one?
This has a bubble in it.
If you squeeze it out
- there will be no bubble. - It will come out.
In the past four years, we have developed a range
of customisable, collection based artisanal
and genderfluid perfumes and attars
which can be used by anyone.
We are selling them through our online store
and a select few retail stores.
Today, we have established the product-market fit.
But now we want to scale the business.
For that, Sharks, I ask for fifty lakh rupees
in exchange for eight percent equity in my company.
Hi, Vidushi.
Welcome to 'Lenskart'.
Welcome to..
Sorry.
- Oh my God! - You are obsessed
- with marketing. - I was..
- You should take a break. - Oh my God!
Take a break.
He will make even your perfumes wear glasses.
Hi, Vidushi.
- Welcome to 'Shark Tank'. - Thank you.
Tell us why you started this business separately?
Why didn't you join the family business?
I started this business separately
because I belong to a 'Marwadi' family.
As you might know, being part of the family business
was out of question.
Because, according to them, only boys
should be allowed to carry on with it.
Daughters married into another family and sent off.
The ideas that I got from Switzerland and France
were shared with my family.
But they did not want to change their way of operating.
Initially, my father resisted it.
He asked me why I must do this.
Why do I want to run such a business?
This does not work anymore.
Our business in Lucknow is the only one that works.
When you faced the initial resistance
did you think about dropping this idea?
I thought about it many times.
If fact, that is why I started very late.
Before starting this, I was in the business of embroidery.
That was also based in Lucknow.
But I was living in Bangalore and working on it.
That was because, I could not
get into this business back then.
Finally, I took the plunge
around 2016 or 2017.
And I decided that I must do it.
Even today, my family sees me as a competition. - Oh.
Although, my dad took a U-turn.
Now he supports me.
I am going to give you a mixed range of perfumes and attars.
Love.
- Yes. - 'Isak' means love. - Right.
My God! It's very strong.
- Namita, what you are trying is.. - I am trying 'Ittar'.
'Ittar' is always very strong. That is the thing about it.
- Is this perfume? - This is perfume.
What is its price?
It's the signature collection worth 3,200.
This is quite expensive compared to newer brands. - Yes.
How much does it cost for you to make it?
Anywhere between 350 to 600 rupees.
- Okay. - Ninety percent margin.
And secondly, our perfumes are very long lasting.
We make them according to Indian climatic conditions.
You didn't mention
the long lasting aspect of it anywhere.
It's clearly a U.S.P.
As far as I understand, 'Ittar' or attar
has declining market.
And the perfume market is either stable or increasing.
So, do you have any opinion or data about it?
and those who are not buying it despite visiting your website?
I don't have the data on the numbers.
But you are right.
One reason is the marketing.
It is declining due to poor marketing.
International brands do not make attars.
They make perfumes.
We are influenced by their ads.
Attars can be a little expensive
when compared to perfumes.
Why is it expensive?
It is concentrated.
So, the main juice which provides the fragrance
is the most expensive ingredient.
It is a hundred percent pure in attar
while in perfumes, it is around twenty to twenty five percent.
Got it. Thank you.
How much revenue do you make?
In the last six months, we made around 18 lakhs.
How much did you make last month, Vidushi?
Last month, around 3.5 lakhs.
Then how can you say that you have achieved
product-market fit and you want to scale the business?
With just three to four lakhs worth monthly sales
I don't know if that is a product-market fit yet.
Vidushi, did you test your price point with the consumers?
Those who are buying your product
and those who are not buying it despite visiting your website?
- Right.. - Because, honestly I feel that
the price point is quite high.
We realised it when we people were
buying our 'Discovery Packs'.
The idea was that whenever a person tries this box
they can buy the perfume of their choice
once they like a fragrance.
We noticed that some people were buying
only the 'Discovery packs' through our website.
- I see. - When we phoned them
they said that they like the fragrance.
But they cannot spend
- that much at once. - What is its price?
This costs 650.
Wow!
You should try this.
They have this one called 'First rain'.
It's the fragrance of natural soil.
It smells like petrichor.
I have never.. When I lived in the U.S.
I have never heard anyone talking about
the fragrance of wet soil or the first rain's smell.
- But in India, people love it. - Yes.
It probably reminds them of their childhood.
It's a great product.
It's a natural product.
What do you mean by that?
It is extracted from the soil and made on a sandal wood base.
- Oh! - Wow!
Vidushi, I'm very interested in your business.
Thank you.
I'm sure that there is no bad baby smell
in your family.
- That's true. - That's great.
Tell me something.
What's your educational background.
I feel that you are weak when it comes to business.
Yes. - Please tell me about yourself.
Yes, I finished my MBA
- SCMHRD Pune. - Okay.
But I don't think you retained that knowledge.
I'll tell you honestly. - Okay.
You are creative
but little weak when it comes to business.
Is that true?
Maybe.
If I were you
I would've kept
a universal brand name.
And I will have a theme on my website
with a range called Isak.
The Lucknow based Artisanal Fragrances.
But it won't be the brand.
I don't think Isak as a brand
can compete with the international
or western skincare market.
If you say that this lipstick will stay for 12 hours
it will be easy to scale on the Instagram quickly.
But if you try to sell by talking about
the heritage experience
it will be limiting.
That's what I feel. That's why I'm out.
I consider this as a very big opportunity.
But right now I don't see it as a business.
I'm sorry. I'm out for now.
But good luck. This is a great category.
One last thing.
Many had stopped me too
when I left my dad's business.
Okay. - And what 'Shaadi' Dot Com today is
because of my persistence.
So, don't lose your persistence.
But find a direction.
Like Mr. Anupam said you've to work a lot
on the business aspect.
- Okay. - So for now I'm out.
But all the best for the future.
I think it is tough to scale this business.
Brand building seems tough.
So for that reason I'm out.
I think
it is an interesting category.
Also, you are a great entrepreneur.
You have a detail orientation.
Do it yourself is there.
- Intelligently.. - Give me an opportunity.
But you neither have a team nor a vision.
We can do it but
I want to be an equal partner.
- Equal! - Yes.
I'm the first female
in my family who is trying to take our one and
a half year old family business perfumery forward.
And I'm trying to create
an identity in a new way.
Initially I had very limited funds.
My aunt supported me financially.
And my uncle supported me in the aroma aspect
of this business. He is very good detecting good aroma.
Check it Vidushi.
This is very close, Uncle.
A girl of our family should definitely be successful.
This is our family business.
Since her childhood they share a very good bond.
So, we decided to move forward with it.
How much equity does your aunt have?
50 per cent. Together they both..
How much did they invest in it?
They invested Rs. 8 lakh
and I invested Rs. 9 lakh.
You gave them 50 per cent equity? - Yes.
But you are the one who do all the work, right?
So, how can she take 50 per cent equity for Rs. 8 lakh?
I've an advice.
Return her Rs. 8 lakh
with 12 per cent interest.
Well, Peyush, my aunt
supported me when there was no one else to support.
Only two decision makers should be there.
You and me.
I won't be able to invest in this business if your
aunt's involvement is going to be there.
Your aunt must exit this business
and that's the condition.
So, my offer is Rs. 50 lakh for 50 per cent equity.
Can I give you a counter offer?
Can you give Rs. 50 lakh
in exchange of 30 per cent equity? - No.
I won't be able to go below 50 per cent.
I'll two minutes. - Sure. - Thanks.
It will require a lot of money.
Indeed. Also, I'm doubtful about how cool
it is to buy the Isak brand's perfume.
That will change.
How can she answer without knowing such context?
Everyone wants to become successful.
Peyush is ready to invest Rs. 50 lakh
but he wants 50 per cent equity.
It lasts for 16 hours. So I'll buy for sure.
We can discuss if we are equal partners.
We can't compel anyone to do anything but yes..
We will sell it to you.
Yes. - You'll buy it from us for Rs. 10 Crores.
Peyush, you get the deal.
- Wow! - Wow!
- Congratulations. - Congratulations.
I'll give you the cheque. - Well done.
Amazing.
Huge congratulations.
- Thank you. - I didn't expect it.
- Congratulations. - Oh, my God!
Peyush is now an 'Isakzada'.
- Congratulations. - We will make it big.
Thank you. - Thank you. - Oh, God!
I'm very happy to meet all of you.
- Same here. - Thank you.
Spread your fragrance all over the world.
This deserves a shake hand. - Congratulations.
Yes, quite a deal. - 50 per cent.
I'm unable to believe.
She definitely is a strong
as she could reach here. - Yes.
And it seems she is receptive to feedbacks.
Yes. - She didn't say that she is her favourite.
My aunt supported me a lot.
And she must get her due amount.
I didn't wanted to take away that.
But Peyush can help me take the business to new levels.
Peyush, you are the real shark.
It's the first time. - Good job.
50 per cent. You're the co-founder now.
What about the Lenskart?
How much equity do you have there?
Hereon he will be known as
the co-founder of Isak.
So far many entrepreneurs came
to the sharks.
But our next entrepreneur is here to launch
his product in our show.
Let's see if their product
succeeds in impressing the sharks or not.
Greetings, sir.
- Greetings. - I'm Ramesh Patel.
I'm Chandrakanth Patel.
And I'm Jai Umretia.
As we all know our house's atmosphere becomes
joyful when a baby is born in our house.
But along with that parents get a responsibility.
For example, feeding the baby
bathing the baby
making the baby sleep
and entertaining the baby.
And parents must give their hundred per cent
attention at this.
Something similar happen to Mr. Ramesh
when his daughter was born.
His wife used
to handle feeding the baby.
But for swinging the cradle
she had to wake up at night.
And this used to annoy her.
She came to me and asked
if I can do something
to make the cradle swing automatically.
They kept saying this for one and a half years.
Then I worked on this idea.
Then this cradle took birth
after seven years.
Sir, I belong to a farmer family.
I'm so happy to launch our cradle
in the presence of all of you.
- Wow! - Wow!
Our request is Rs. 50 lakh
for 10 per cent equity.
So, Sharks, would you like to see our innovation?
- Sure. - Sure, please show us.
This cradle is connected to the bluetooth.
We can operate this cradle using this mobile phone.
We can activate the swing control
if we want to switch on the cradle.
Wow! - It will start swinging
at its full speed in just 15 seconds.
Wow! - Will the speed increase?
- Yes. - Wow!
We've attached a fan and lights inside too.
I'll switch it on.
When in automatic mode
they'll start just as the cradle stops swinging.
As soon as the cradle is swung again
the fan gets switched off.
We've included a weighing scale
to help the parents weigh their baby in the cradle.
Wow..
When the measure button is pressed
the app and the screen on the cradle
will display the child's weight.
Wow..
If the child start crying
they could sing a lullaby
to their child through their phone.
Wow..
The cradle's app will notify the parents in their phone
when their baby wets itself.
The negative reading of wet detection will read 'yes'.
Wow..
We've attached more physical features.
Like tyres to move the cradle around
if you ever want to. - You've put a lot of thought into this.
Wow.. - It's a cradle plus a babysitter..
- A lot of thought. - When the tyre are enabled
one person can easily move the cradle.
The child could sit in the cradle and swing
and you can open this side of the cradle.
A baby of up to six years old can swing in this. - Lovely..
Wonderful..
Ramesh, Chandrakanth and Jai
how are you guys? Are you well? We'll doing well..
We call it 'Hinchko' in Gujarati, right?
Yes, 'Hinchko'.
I want to say that it's a speciality of Gujaratis
that in whatever corner of the world they are in
they'll have a swing in their house.. - Yes..
And it keeps on swinging..
I have one at home too, by the way. - That's a 'Hinchko'?
- 'Hinchko'.. A swing.. - A swing..
Tell me, did this help you in bringing up your child
or did you always want to make a business out of this?
I didn't think of the business, sir. - I see.
It wasn't useful for my baby, either.
Not at all.
Well, it's just that I'm very attached to things.
- I see. - I don't care
- what the result it. - So you're a stubborn farmer.
Yes.. - Do you have had any sales so far?
No, there's some issue with compliance certification.
- So this is a prototype? - Yes.
And you've made only one prototype?
And that's what you've brought today. Right? - Right..
Have you been working jobs for the past seven years
or have you been working on this? - Well, he's a farmer.
- He still does farming. - Okay..
Chandrakanth used to manufacture OEMs
like regulators..
- Like LED lights.. - Yes..
I have an engineering background
having studied telecom.
So you've quit your jobs?
And now.. - No.. - So you're doing those..
This is a bootstrap start-up. We have no revenue.
We've come to you sharks.. If we're able
to go further with this venture
- we'll be able to quit our jobs.. - Quit jobs..
Have you tested this product with children?
Yes, we have.
We put my nephew in it
and observed his actions..
We noted down everything
like the places he touched
and what could trouble him..
Did you take feedback from his mother or father
The customers who would use the product?
Or your wife? About the swinging and.. - No, ma'am.
I'm not married yet.
I see. - Yes.
- Have you asked your wife.. - No, I've maintained
this a secret with this wife. She doesn't know..
- A secret.. - She doesn't know..
A secret cradle.
You're a smart man.
You're quite a secretive man.
My wife doesn't know that I've come here.
Oh..
She might find out when she watches the show.. - I don't
know about that..
What will you do when you go home?
I mean, I've come here for a vacation.
Oh, wow..
I see.. You're amazing..
Are you scared of her?
I'm not scared but women can't keep a secret.
That's why I've not informed her..
That's amazing..
How much did you spend in making this?
We've spent Rs. 25 Lakhs in total.
You spent Rs. 25 Lakhs in making this?
Yes, this is our seventh model.
We've made patents for this..
So.. - So you've patented it? - Yes, we have.
- You spent Rs. 25 Lakhs.. - Yes.
Do you have lots of earning
and this is a little project for you
or did you spent your entire life savings?
I've put my entire life earnings on it.
- Oh, my God.. - Seven years..
Was it easy to put Rs. 25 Lakhs on this?
- No.. - It's been stressing us..
Do you have any money left or have you spent everything?
- No, we don't. - We don't have anything left.
That's why we haven't gone over to production.. - We've not..
It's been ready since 2019.
What will it cost you to make this
and how much will you sell a unit for?
Once we get a positive response
we intent to put up
kick-starters, wish lists and stuff online..
And then.. If we get the order in multiples of 10
the price will be around Rs. 45,000 to 50,0000..
It'll be our cost.
For one? - Yes, in making multiples of 10.
We want to go for multiples of 100. - Yes..
It'll go down to Rs. 40,000.
If we make it in multiples of 1000
the cost will be around Rs. 35,000.
- I get it.. - It's like that..
Wow.. How much will you sell them for?
Our plan to sell them for around Rs. 80,000 to One Lakh..
Oh, God..
I've arrived at a decision.
Adding all those features
you want to sell a cradle of Rs. 1 Lakh to young people.
They won't care about difference between this
and a normal cradle.
People who could afford this will have AC in a room
for their baby, they won't use that fan.
Even the lullabies..
I mean, with all these extraneous features, you've made
excuse me for this, a white elephant
with lots of features
that the consumer won't need.
This is a passionate pet project
you've invested Rs. 25 Lakhs in.
I find that very inspiring.
The approach of cramming lots of features
into a single product to make it expensive
doesn't make a lick of sense as a business.
Hold on. I've also made my decision
but I'd like to say something before I tell you.
People with dreams of entrepreneurship..
It's very important that before investing
their life savings
they conduct a customer survey
to gauge the need.
Secondly, you need to gain an understanding
of pricing and costing.
Ask yourself, will the people pay the price?
Your product has passion and energy
and I'm inspired. Great.
However, a cradle of Rs. 1 Lakhs..
If you scale this product up
no one in India will pay this price.
Passion is one thing.
As I said, the journey between hope and sales
is very long.
For this reason, I'm out.
Okay. - Sharks, this is actually our high-end model.
It's what we were allowed to bring.
We've put all the features we came up with in this.
It doesn't mean we'll only sell this model.
All the features are modular.
Like, the fan.
It doesn't have to come with every manufactured unit.
It can be removed easily.
Even if you remove features
you could only go down to Rs. 80,000 or 70,000.
Can you sell it in Rs. 10,000? That is the question.
It could have three or six variants
converted as the demand in the market..
Then, we can sell it for Rs. 25,000.
If you remove everything, no feature
will remain.. - Automatic features will remain.
The app.. - A lot of products have that feature.
I have a four years old baby.
She too has a similar cradle
and it's not to sleep.
- It's only to sit. - Okay.
It swings on its own the entire day.
It's not a big deal.
It cost around just Rs. 8,000.
I've also reached a decision.
I suggest that you guys approach a company..
You have a patent now.
It can't be stolen.
- A public.. - Approach a company
that knows to sell such products.
- International companies.. - Good idea..
Give them this design
and form a partnership with them.
You could form a royalty agreement
but you'll get money for every sold unit.
You could make a lot of money out of this.
Or they could give you a one-time payment.
For Rs. 25 Lakhs, they could offer you Rs. 1 Crores or 2
and buy your design and the patent.
Your pet project would've been successful
as well as your hard work for seven years
and start working on next project.
I don't think it's too bad.
However, I'm out for now.
I don't believe this product is at the point that
I'll buy it for Rs. 1 Lakh for my child.
- I'm out for today. - Okay.
It was nice to meet you guys.
Actually, I don't agree with the panel on something.
That this product is bloated.
As I said, I have a four years old daughter.
All the problems I've faced..
You've solved exactly those.
You've put quite a lot of thought into this.
That's what I believe.
However, the problem is
that your cost and selling price are too high.
You could pursue licensing
however, before that
you need to reduce the cost dramatically.
- Think about that. - Yes, Shark.
For this reason, I won't be able to fund you now.
Okay. - But I want you to achieve great success.
We will follow your feedback.
The companies which you want us to connect..
Which can be licensed.
If we can talk to them
we can.. - Do you need help to contact them? - Yes.
I think they will call you after this show.
But if you need help
I am ready to help you outside.
- Thank you. - If the patent is published
just do aggressive campaign.
Go to Kickstarter.
- Go to social media. - It's a very good idea.
Go everywhere. Promote it.
People will contact you.
- Absolutely! - Don't hide yourselves.
It's already seven years.
So we wish you the very best.
- Thank you. - Thank you.
- Greetings. - All the best. - Thank you.
Since we have come to this show, we are able to meet them.
Otherwise, we meet the candidates from IITs and IIMs.
They can't meet us. They can't reach us.
India is full of entrepreneurs.
Every household runs a small business.
- Exactly.. - They are entrepreneurs.
Greetings, Sharks. I am Ranodeep.
Greetings, Sharks. I am Vijaya Kumar.
Greetings. - We are the co-founders of Rare Planet.
Sharks, can you tell us
the difference between these two clay pots?
Both are prepared by the same artisan.
But its selling price is Rs. 10.
And its selling price is Rs. 450.
This was prepared using ordinary process.
And this one was specially prepared by the artisan.
In our country, language is changed after every 100 km.
Dress is changed. Art and culture are changed.
But art and culture which are changed after every 100 km
can't reach to the customers at the correct price.
Rare Planet gives the artisans a platform
to showcase their talent.
Currently, we sell our products through four airport locations
and our online platform.
We sell terracotta, ceramic
copper, studio pottery.
Currently, 10,000 artisans are associated with us.
Sharks, our vision is, through Rare Planet
we want to touch all the artisans of the country.
We want to make them self-dependent.
And we want to grow along with them.
Today, against 1 per cent share of our company
we ask for Rs. 65 lakh investment. - Wow!
Please show us your products.
This is microwave safe, dishwasher proof.
You can wash it any number of times.
The paint won't go off.
- Wow! - Great products.
The quality is very good.
Tell us the price of your products.
- Ma'am, our copper bottle.. - Yes.
- Its selling price is Rs.1799. - Wow!
Mr. Ranodeep and Mr. Vijaya Kumar.
- Greetings. - You can call it a coincidence.
I was in Goa airport 2 days ago.
There were so many stalls there.
But I went to your stall.
And I spent a lot of time there.
- Oh! - It's called destiny.
How long have you been working?
It's an interesting story.
When I was doing my engineering in 2015..
Actually, my family's financial condition was not good.
I used to paint on clay pots and sell in fairs.
I funded my engineering with that money. - Wow!
I became an engineer later.
I am a Bengali first.
And my parents used to make me do paintings
in my childhood.
I went to one village.
When I met the artisans. It was the eureka moment for me.
I felt that I should work with them as a family.
First 7 to 8 months, it were very difficult.
Products were not getting sold.
Then I decided to sell in retail.
There is a book stall in Park Street.
I got a small place there.
In the first month, I sold products worth Rs. 1.5 lakh.
I covered all the book stalls gradually.
Then I realised
that these products will be sold more in airports.
Then I started searching for a retailer
who sells such items in airports.
My co-founder, Mr. Vijaya Kumar
had been associated with airport retail since last 10 years.
This is how I met him.
We really feel proud that our clay
can command on a par with China's ceramic.
You are encouraging our artisans.
You are doing a great work.
So very good purpose driven brand.
- Thank you, - I want to know
what's your total SKUs.
And what's the sales percentage in airports which is offline?
And what's the online sales percentage?
And what's your vision?
We have around 6000 SKUs.
Including four airport locations and online sales..
last month's sales revenue was Rs. 1 crore.
- Wow! - Wow! - Well-done!
Thank you so much.
Around Rs. 78 lakh from retail
and the rest was from digital.
Did you have any investor before
or we are the first investors?
In 2019, we raised our first round of funding.
- Okay. - I see. - How much did you raise?
Rs. 1.25 crore.
- At valuation? - At valuation of Rs. 6.5 crore.
What was your revenue then?
Around Rs. 4 to 5 lakh per month.
Around Rs. 4 to 5 lakh.
Then we raised again in August, 2020.
- Wow! - We raised Rs. 2.5 crore.
- Rs. 2.5 crore. - Yes.
As far as I know, this work has two different levels.
First, a lot of people are doing
small businesses in handicrafts.
There is a company Bombay Store..
And there is Fab India, which has gone public.
This work can also be done in that scale, right?
What is so special about your approach
- that you can reach there.. - One is B2B section..
Okay. - There are others which we sell from our website.
And then, we have corporate gifting.
We're targeting airports because when COVID happened
a lot of concessioners left. If we enter right now..
There were limited people flying.
If we can generate revenue in that field..
And the number will constantly grow.. - Excuse me.
Rs. 1 crore sell happened because of the festive season
- as the gifting was very big. - Yes, sir.
Without this, do you think a crore can be maintained?
Sir, more than that.. - Sorry. Numbers are also a platform.
- Today, if the market opens.. - Right.
If one goes with full capacity..
Right now, our service is at four airports.
Today, around 10:30
we won one more tender in another airport.
- Congratulations! - Wow! - Fantastic!
- Are all airports profitable? - 100 percent.
From day one, business is guaranteed. - Very nice!
We're having talks with 11 airports.
- In a month and a half from now.. - Actually..
I'd like to interrupt as I want to give you an offer.
- Wow! - Wow! - Cool.
I'll not be a passive investor. I'll contribute my networks
time and expertise. So, my offer is
Rs. 65 lakhs but for five percent equity
for me to feel that even I'm a part of it.
This is a pure nationalistic purpose.
Though my husband and I were very successful
in the US in our jobs. We came to India
for a certain nationalistic feeling. - Okay.
Even I can see that zest in you.
There are lot of coincidences.. Destiny.. If you say..
Only lack of coincidences is 13 crores versus 65 crores.
But.. But let me tell you..
Other investors you'll get are passive.
They were giving an answer. Let them just finish that.
You were telling your plans
as to how you're going to become one of the top.
- The approach and plan.. - Before telling the plan
please remember, someone has given you an offer.
How much is your conviction in your thoughts and passion.
Remember that before taking a decision.
After that, you can explain. I'm quiet now.
The offer is for your numbers and not you.
There are so many materialistic people with numbers..
- Actually.. - They aren't like me.
I think from the heart. - We talk straight and not nonsense.
I don't talk nonsense!
Tell your plan as I'm interested in that and also you.
Once the airport game is done.
We've slowly started coming to mall stores as well.
We have not yet started, yet to start with city capital.
- Very good. - Hyderabad. - Lovely mall.
First mall where we will try the concept ion 200 sq ft.
Will you work on clothes and furniture in future?
We hope to enter the clothes market in next five years.
To make scalable we must go beyond the art side.
Yes, it has to be an omnipresent brand
which will not only sell this.
- Fragrances, clothes, spices. - Now we are talking.
- Home and living. - Yes. - Home and living.
In ten million, what is your profit?
In the last month? In the last month..
- About 12 to 13 lakhs. - Net revenue.
So why did you laugh?
We actually.. - We expected in the back that
Sharks will ask this question. I thought you won't.
He said you would.
You are here in Shark tank. Shark is a predator.
- Am I right? - Yes. - We are the prey.
What per cent of revenue goes to the airport?
Sir, it depends on airport to airport
but on an average it is about 30 per cent.
So airport takes 9,00,000 out of 30,00,000.
Correct. - Do you not think a big chunk goes for rent?
It is what it is.
But that is the cost we have to bear to build a brand
before we come into malls.
Consumers coming to mall
is there for self-consumption and not for gifting. - Yes, sir.
Rs. 1800 is a high price point.
It goes for a luxury brand.
What worked for you here is the sales at airport
since there people are in a pressure to buy gifts.
They do not think much over the price.
since there people are in a pressure to buy gifts.
Self consumption and digital scaling seems shaky.
It can be done once you establish a brand.
Hence this is not a good for me.
So for this reason, I am out. Very impressed watching you.
Thank you, Ma'am.
I agree with Vineeta on this.
You have beautiful products.
I would like to keep this bottle at home.
But I do not get to see what brand it is.
If someone were to copy your design tomorrow
then such a small brand name written over here..
I do not know how you will stand out.
People may or may not recognize or buy your product.
These are doubts that I have.
For those reasons, I am out. I am sorry.
I have made my decision.
I find this airport dependency as a negative aspect.
Good luck.
and some ground in online then I will be very happy
to come into this but for today, I am out.
So he is out.
Today you have a ten per cent margin.
What is you GA cost?
How big is your corporate team? Just you two?
No, sir.
There are around 13 persons who control
- from corporate office. - How much is the cost?
Including everything.. Mr. Vijaya. - Rs. 3 lakh.
That's the problem. Since your cost is less
your margin is 10 per cent.
In this model, your margin will be 2 to 5 per cent.
Generally, I consider 3 to 4 things.
I call it 3Ts or 4Ts, you can call anything.
One is TAM, Total Addressable Market.
Whether the market is big or not.
The market is very big. It has been proved.
The timing too.. Everyone is going back to organic
to earthy stuff. Right?
The timing is fine too.
But when I am seeing the team
I don't think branding is your strength.
Until you strengthen your brand
you won't be able to make good margin.
So I am very sorry.
Love what you are doing. But I am out today.
Good luck.
- Thank you, sir. - I am still there.
And my cheque is ready.
He has explained you the reasons.
He told you about the weaknesses.
And I totally agree with him.
You need to work more
to scale up this business in India
and make it export driven.
And I am ready to give you that time.
Think about my offer.
Firstly, thank you for giving us the offer.
He said 'firstly'. He will give counter.
And we have a counter offer.
To be honest, we really want you.
And 5 per cent is okay. We are ready to take 5 per cent
but for Rs. 2 Crores.
- I mean, for Rs. 2 Crores.. - Double!
No, Rs. 2 Crores instead of Rs. 65 lakh! - Yes.
- Ma'am, 5 per cent is constant. - I won't go beyond Rs. 65 lakh.
The old valuation which was Rs. 40 Crores..
We are okay with that.
We don't even want a hike.
But you have come to Shark Tank.
- You have got a big platform. - Yes.
You will have to be flexible.
My cheque is ready.
You tell me. I think 5 in my mind
for what I bring is a fantastic offer.
2.5 to 3 is still..
Let's close it at 4 per cent.
Neither yours nor mine, right in the middle. - Ma'am.
Please 3 per cent. - 3 per cent is also Rs. 21 Crores.
- Still less than the last round. - 3 per cent is enough.
- Please. - Half of the last round.
- 3 per cent. - We have a deal.
- Congrats! - Congratulations!
- Superb! Congratulations! - I am very excited.
Because this is the business
which I am very passionate about.
- It means a lot. - It means a lot to me too.
- And you are doing fabulous job. - Thank you so much.
I can't wait to make it a big Pan India
and global brand.
- Right? - Thank you so much. - Lovely!
Well-done! - Good deal! Congratulations!
- Congratulations! - Well-done..
They do business worth Rs. 12 Crores in a year.
You take it for Rs. 21 Crores.
- This brand will do very well. - Yes. - Not bad.
I think you have got a good deal.
- Yes. - It's a good deal.
Sharks, thank you for your help
in convincing him to take my number.
Because it wasn't easy for him.
- They are good operationally. - You have helped me.
Thank you for that.