Where's my camera?
How do I know which camera is facing me?
But you never need to look at the camera.
- I'm just curious about its location. - Okay.
Yes. Okay.
Amit, if there's a bidding war, just stay out of it.
[Sharks laugh]
Which one's my camera? Flash the light. Thank you.
Which one is mine?
Yours isn't set up!
[Sharks laugh]
- Please start. - Good to go. Roll.
[theme music playing]
[theme music continues]
[theme music fading]
Sunny!
- Do you know what grandma used to say when I was a kid? - What?
"Sayyam, apply some multani mitti on your face to get rid of the tan."
"Apply coconut oil on your hair. You'll get thick hair."
These remedies are out of date.
Doctors these days say,
"Don't step out of the house without applying sunscreen."
"Don't forget to apply a mask on your hair."
Oh! So, grandma's remedies were for the heck of it!
[Sharks laugh]
Don't get emotional.
Why don't we
combine grandma's home remedies and the doctor's prescriptions
to come up with a product?
Sharks, introducing Ghar Soaps.
[uplifting music playing]
Sharks, Ghar Soaps is a unique skincare brand.
It's a unique fusion of active chemicals
like salicylic acid and niacinamide
We offer products such as skincare, body care, hair care and others,
which you can buy on our website as well as other online platforms.
Sharks, our vision is
to take the fusion of ancient Ayurveda and modern science
- to the entire world. - Hmm.
- Sorry! - [Sharks laugh]
- What are you saying? - Sorry.
- Joke... - There's a story behind it.
Actually, we both are...
- We're stepbrothers. - Yes.
- Oh! - I see.
We met almost 10 to 12 years ago.
What are you saying?
Sir, first...
His mother passed away early.
[sentimental music playing]
His dad was my dad too.
His dad married my mom.
After around five years, even he passed away.
Darn!
My mom remarried.
She married my current father, who is my stepdad.
And they raised me.
My dad's elder brother, that is my uncle,
raised me along with my aunt.
Okay.
I see.
They sent me to Hyderabad and Bengaluru for studies.
- They supported me in Pune too. - Very nice.
- They helped me settle down. - Very nice.
We ran into each other in Pune one day.
His mom and he had come there.
We were attending a cousin's wedding.
I liked Pune.
I knew I could not clear twelfth grade.
You knew you wouldn't clear the exams!
- I'd come top of the class until eleventh grade. - Huh!
I had to prepare for the IIT entrance test.
I didn't want to do it.
So, I deliberately fared poorly in the exams
and told my family I wanted to do a digital marketing course in Pune
and I was going for four months.
What percentage did you score in eleventh grade?
98%.
No, sir. I was loving this. I knew I was made for it.
All that aside, pursuing an education is a must.
I'm talking about basic education.
[intense music playing]
My partner pulled a scam on me.
- A scam! - He scammed you.
Sir, we started the business together.
In six months, we made 1 million dollars.
Well done.
Tell us about the scam.
I was underage. So, I was using my mother's bank account.
The taxes and transaction fees in India are high.
My partner was in the US.
I transferred all the money into his account.
Tsk!
But I had made good connections.
I started from scratch again.
I started drawing a monthly salary this time around.
I made the same mistake.
I trusted my partner and was cheated again.
One mistake makes a person extra cautious in the future.
He was 18 years old.
- What happened after? - I started a services business.
For those into drop shipping, they need a website.
They have to do email as well as text marketing.
And also the shipping thing.
It takes 30 days to ship from China to the US.
I used to do it in seven days.
I was stable in that business.
I did that for about two years.
It became very competitive after that.
So, I did away with the fulfilment part,
and I am only providing services.
Tell us about Ghar Soaps.
When did you start this and why?
A friend and neighbour gifted some soaps to me.
We were impressed with the quality of her soaps.
We knew there was a big market for soaps.
That's how Ghar Soaps came into being.
[upbeat music playing]
We designed the website in a day and went live the next day.
- Right. - You need to figure out the factory, production and others.
We took a website and pictures and simply ran ads.
- You started a website with their inventory. - Yes.
That's what he did.
What are your sales per month?
As of this month, we are crossing Rs. 1 crore.
- Wow! - Huh! Rs. 1 crore per month!
- Yes, this month. - This month.
Wow!
Yes, it's profitable.
How much are you left with out of Rs. 1 crore?
- Rs. 15 lakhs. - You'll make a profit of Rs. 15 lakhs.
How much do you spend on marketing?
25%, that's Rs. 25 lakhs.
What are your marketing streams?
70% performance marketing and 30% influencer marketing.
What is your equity split?
It's 50% each.
- Could you show us your products if possible? - Yes, sure.
[uplifting music playing]
- Wow. Smells good. - This is an ice roller.
- What's this? - This is a coffee ice roller.
- You can apply it to your face. - Oh, nice.
There's a simplicity in your brand
as is the minimalistic way of life.
Your products are good.
I've made my decision.
Your story is very heart-touching.
But I'd like to say
Tell me about the product in depth.
I still don't know what research went into making the product.
We don't know the science behind it, but I know what is required.
We used to order all the products in the market,
be it US or India.
I mean to say, we used to find gaps to see what we could add.
It takes manufacturers months to build a product.
They used to send samples, and they got rejected every time.
We'd launch the final product after getting multiple approvals.
You have still not answered Amit's question.
[intense music playing]
How do you know there's a gap?
First, we order products from inspirational brands in the US.
And then we see what's happening there.
May I ask a question?
Is the girl who gifted the soap to you as a present still involved?
Does she give you ideas?
- She's the manufacturer. - She's the manufacturer.
- We share a good bond. - Oh, she's the manufacturer.
Now I am beginning to understand things.
I really loved how you two bumped into each other one day.
You've become a strong digital marketer at the age of 21.
It's a very rare skill.
I really liked it.
The product you're pitching is Ghar Soaps.
I still haven't understood your product in depth.
[intense music playing]
I haven't heard anything about science or doctors
or the significance of Ayurveda in all of this.
I'm out for this reason.
But I wish you all the best and I know you'll make it big.
- Okay. Let's get back to your business. - Yes, sir.
- This is crazy. - From your website...
They're super digital marketers.
I see that.
- We partnered with Amazon quite late. - When?
- Six months ago. - Six months.
- What about Flipkart? - At the same time.
- Six months. We just started. - Okay, you started now.
Not on Nykaa?
We haven't been able to.
- Didn't you get the approval? - We did.
We're yet to receive purchase orders.
The 30% you're making from marketplaces
will double with Nykaa.
Making a profit in a business like this is tough.
- Ask any brand... - Yes, sir.
- Everyone talks just about burn. - Yes.
How can you make a profit in this business? It's astonishing,
For now, what we're doing is focusing on an accessory
and scaling it.
And selling the rest as an add-on.
We have a higher margin in accessorising.
Which accessories?
Like ice roller with the eye patch, which is a new innovation.
- This is an innovation. - Yes, it's reusable.
Yes, sir. No one else in India sells it.
I want to know your goal. What is your vision?
We're introducing technology.
A face recognition app that will detect skin issues.
Acne among other issues. And it will suggest a combo.
Such apps already exist.
[intense music playing]
You have CureSkin.
Sir, CureSkin has not covered North India.
Their ads only run in the south.
Alright.
How do you know so much, brother?
It's what he does all day!
What do you do?
His role is to offer support.
I oversee accounts, support and operations.
Sir, we've done the planning.
The biggest task is handling the supply chain.
I can do the strategising, but he oversees execution.
It's good that you appreciate each other's work.
Thank you, sir.
Can I ask a personal question?
You're stepbrothers and met after so many years.
Did you like each other instantly,
or was there a lot of friction in the beginning?
We've never fought to date.
[sentimental music playing]
What do you like about each other?
He is great at comprehending things.
Okay. What do you like about him?
If I tell him we need to introduce a product,
he will go the whole nine yards.
- Oh, wow! - He's tenacious.
What I like is you're a great hustler.
Building a 12-crore business just digitally is not easy.
But to make this an investable business,
you'll need to work on
defining a purpose and a vision, as to what you really want.
You might want to focus on a product and make something for acne,
or something else.
That's where I see a gap.
Yes, we'll both come on board.
I think if you focus on building a brand...
He mentioned you should focus on a product.
I say focus on both.
You're not only a product company, you also have to become a brand.
I'll make you an individual offer.
[Namita chuckles]
You've just partnered with Amazon and Flipkart,
but I am a king at it!
Decide whether you need help with Amazon or tech.
[intense music playing]
If you wish to make technologies like CureSkin,
I can help you a lot.
I know it in depth.
Besides, our business is technology-based.
[intense music playing]
Many companies that he started must have closed down.
He doesn't know what he's saying.
Think and let us know your answer.
He's just trying to counter me.
- Yes, he is all-knowing. We know nothing! - Okay? You...
- We're naive and ignorant. - You admitted it yourself!
- Sir knows everything. We know nothing. - Of course!
You're bound to realise it if you talk rubbish.
- I'm caught in the crossfire. - They're at it again.
- Please take a moment to decide. - Crossfire...
[intense music playing]
Sharks, we have a counteroffer.
Oh, my!
Didn't you as for Rs. 60 lakhs earlier?
Sir, we raised the equity also.
What have you... [laughs]
Let's try to understand this.
What matters to you? Percentage, valuation or amount?
- Valuation. - Valuation.
Rs 20 crores is the maximum valuation you can go to.
- Yes, sir. - Yes.
- Your counteroffer is a bit too high. - Yes.
We reduced the valuation by Rs. 10 crores.
No.
- The net worth of your business is worth Rs. 15 crores. - Hmm.
- 12. - Rs. 15 crores. 12 crores.
What is next year's projected sale?
By the end of this year, we'll do Rs. 12 to 15 crores.
If you guys come on board, then maybe more.
Okay, I think it's fair.
One-time valuation is not bad, but I can give you Rs. 15 crores.
[intense music playing]
You can take your time to think
because you have the same offer from both.
If you step out to decide, I'll revoke my offer.
Oh!
[intense music playing]
- [indistinct murmur] - It's up to you.
[indistinct murmur]
Good job, man. Let's build this.
The skincare thug!
[euphoric music playing]
[bubbles rising]
[theme music playing]
[theme music fading]
Congratulations!
Get ready to welcome a new member to the family!
Oh, my!
Sharks, when we hear this news,
there's an air of happiness in the house.
The mother is ecstatic, but at the same time,
she is equally stressed and anxious about the baby in her womb.
You never know when this joy might turn into sadness.
Sharks, even today, in India,
113 mothers die per 1 lakh live births
If I only talk about babies,
Sharks, during the last trimester as well as labour,
if the mothers and the unborn babies are regularly monitored
and the right decision is made at the right time,
then more than 80% of deaths and complications can be prevented.
That is why I bring to you Janitri.
[buoyant music playing]
And I am the founder of Janitri.
At Janitri, we make
and continuously transfer data to the doctor's mobile app
helping the doctor make the right decision at the right time
in preventing any complications.
Our vision is to ensure that no mother or baby,
whether during pregnancy, delivery or post delivery,
succumbs to death or faces any lifelong complications.
So, Sharks,
Are you ready to take Janitri to every mother and baby?
- Arun, welcome to Shark Tank. - Thank you.
This product is very close to my heart.
But before we delve into the product,
I want to know your background.
I am from Alwar, Rajasthan.
- I studied there. - Okay.
After that, I got a chance
to pursue BTech Electronics from VIT, Vellore.
- Then I came to the south. - Very nice.
I had a dream
to solve the grassroot level problems in healthcare
through technology.
I'm sure you know that the infant mortality rate...
- Huge! - And maternal mortality rate
- in India were high 20 years ago. - Yes.
I heard my grandmother's story.
- They were six siblings. - Yes.
She mentioned one of her siblings died within a year of birth.
There were trigger points.
The dots connected when I did my BTech in Electronics.
Then I deduced that this was a huge problem globally,
and that technology hasn't yet countered this.
I took up a job for two years to survive.
Which job?
Sir, I worked as a patent analyst,
an intellectual property analyst in the healthcare domain.
Very good.
I began meeting healthcare stakeholders in my free time.
I began attending healthcare hackathons.
I visited over 100 hospitals across India.
I witnessed live deliveries and C-section deliveries,
and understood the process of mother and child healthcare in detail.
Let's get to the product. What is it?
Janitri offers three products.
Keyar patch,
Daksh, which is a software,
and Navam wearable
which is used to monitor fetal movement.
It's in the prototype stage. It hasn't been launched yet.
- Where do you wear Navam? - On the wrist.
Can fetal movement be tracked from here?
Keyar patch is a patch made of plastic and silicone
that can be attached to the stomach of a pregnant woman.
If you permit, may I play a video?
- Sure. - Please do.
This is the patch.
You have here consumables, cables and an Android phone.
When you open the consumables, it will contain five electrodes,
one double-sided medical tape,
and a skin exfoliation tape.
Peel off one end of the double-sided tape
and stick it on the patch.
Repeat on the other end and stick it on the skin.
Input the patient's data in the mobile application.
Then simply connect the cables to the device
as well as the phone, and it starts capturing readings.
Do you use this for three months which is the last trimester?
Or just for two days before delivery?
Both.
During delivery, it stays on continuously until the baby is born.
In the last trimester,
when the pregnant woman visits the hospital
or the doctor as an outpatient,
- Yes, that was my question. - Yes.
When a woman goes into labour,
it wouldn't strike her that she has to wear this device.
Is there no system in existence for all of this?
A device has existed in the market for the last 30 to 40 years
known as the cardiotocography machine.
In simple terms, it's a fetal monitor.
It has two probes.
After identifying the positions of the unborn baby,
you then attach the probes to the belt.
You need to relocate the probes from time to time
until she delivers.
It's a lot of work for a nurse.
The nurse has to adjust the probe every 30 minutes to an hour.
Those probes are connected with wires to a big box,
which isn't even digital.
It produces a graph in a thermal print.
Also, the doctor has to visit
that particular room to read the print
- because the data is printed using a thermal printer. - Yes.
In this case, the data is transferred to the doctor's phone
whether he's in a conference or the OPD.
They can take a decision regardless of where they are.
Another thing.
Because the data is digital,
the device uses additional algorithms
to automatically interpret data from the graph,
something that doctors did in their minds until now.
The decision used to vary
because of the experience from doctor to doctor.
What we have done is extracted the parameters from the graph itself
so it's easier to take a decision.
Is your technology patented?
No, sir. It has been done by a couple of other start-ups
who are in a similar field.
What is the cost difference between traditional devices
in the market as compared to yours?
Sir, the traditional devices sold by big brands
like GE, Philips and others start at Rs. 1.5 to 2 lakhs.
Alright.
The average brands start at Rs. 1 lakh.
Our sales for FY 21-22 were Rs. 1.03 crores.
- What was it last month? - Rs. 10 lakhs.
What is your monthly burn?
Sir, around Rs. 15 lakhs.
When did you start sales?
It took us five years for R&D,
clinical trials, improvements and regulatory compliance.
We finally started sales in March 2021.
How did you manage funds? Who funded this?
We have raised almost Rs. 7 crores until now.
Wow!
50% grants and 50% is equity.
At what valuation?
In the seed round that took place in February 2020,
Wow!
There must be around 200 to 300 hospitals,
but there are a lot of nursing homes in our country.
Even today, pregnant women prefer going to nursing homes.
- This category is your customer base. - Right.
Because it's B2B.
I am the queen of this category.
- You won't get a better partner than me. - Right.
Your previous round was at a valuation of Rs. 15 crores.
So, I will offer you Rs. 75 lakhs for 5%
at a valuation of Rs. 15 crores.
And Rs. 25 lakhs debt.
We're raising a pre series A round funding.
We are raising Rs. 5 crores,
and we have a commitment of Rs. 2.5 crores at that valuation.
[tense music playing]
'Pre series A is an early stage round'
'which is a mid-round between seed and series A.'
'It is conducted'
'when the product market fit starts becoming visible, '
'but is not completely established.'
It's in the SHA process now.
But it isn't done yet.
Raise a round with me first.
I will make it double.
Instead of Rs. 15 crores, I'll make it Rs. 30 crores.
- Oh, wow! Just like that! - [indistinct murmur]
But that's final.
Rs. 60 lakhs for 2% equity
I loved one thing.
That you're out to challenge
the global players in medical devices.
I believe they have the monopoly.
The cost of machines is in lakhs and even crores.
I am delighted to hear
this product is made in India and is an indigenous innovation.
You are challenging giants,
and I believe you will make India proud.
[euphoric music playing]
But today, despite all that, I am out,
because I don't think I can help you the way Namita can.
Thank you. Thank you, sir.
All the best.
Arun, do you know what I like best about you?
You hustled.
You pushed yourself. You were at it for six years.
I was ready to make you an offer for that reason.
And I would have.
But, you know?
Namita is the perfect Shark for you is what I believe.
- So, I leave it to you and Namita. - Don't take a lot of time.
- I'm out. - Accept the offer and move on.
Let me tell you something. This is a personal story.
My cousin lost her newborn infant.
So, it's something that's very close to my heart.
So, the day pharma and technology join hands,
we can create magic.
- Pharma and tech power, right? - Yes.
[unanimous laughter]
So, two Sharks are out.
- Three are still in... - Okay.
- You have one offer. - Have you made your decision?
- Peyush and Amit? - I have a question.
She did the math quickly. I would like to understand this.
Your revenue has been stagnant for a year.
You said it is a revolutionary product.
Why haven't nursing homes
lapped up your product in a span of one year then?
It isn't stagnant, sir.
We made Rs. 1 crore in the last financial year.
- You still make Rs. 10 lakhs a month. - Yes, 10 lakhs.
But I have big deals in the pipeline which will take us to Rs. 4 crores.
These are all signed deals.
Actually, our market consists of Southeast Asia,
the African continent countries and South America.
We have begun exporting devices as well.
We will work with regional distributors there.
Arun, I have said this in season 1 many times,
and I will reiterate it for you.
I hope you know we're present in 70 countries.
Right, I know.
- She's present in 70 countries even though she's here! - Right.
She's a master of illusion!
See!
I'll offer you Rs. 1 crore for 5% equity.
- If Namita wishes to join... - I want to go solo.
[intense music playing]
This is my deal.
You said Rs. 4 crores this year.
Next year, how much revenue will you make for sure?
Sir, if I finalise the deal with Namita...
With Namita, Rs. 50 crores.
Without Namita, Rs. 8 crores. Tell him!
What is the revenue you can achieve without Namita's help?
[intense music playing]
A minimum of Rs. 20 crores.
- A minimum of Rs. 20 crores... - And Rs. 50 crores with me.
[intense music playing]
You have asked for Rs. 1 crore and you wish to dilute 2.5%.
We're willing to give you what you asked for.
[intense music playing]
What are the projected sales
you so confidently quoted for the next year?
- Rs. 20 crores. - 20 crores.
If you don't achieve it, we'll take 5% equity.
[intense music playing]
- This... - For having the courage to take on me!
I'm trembling like a leaf!
I mean seriously!
They are so brave! So very brave!
We're from Rajasthan.
We understand business. Do you want to grow your business?
I don't agree.
Don't bring Rajasthan into this.
Don't play the community card!
Gujaratis are just as good.
The innovation bit is taken care of..
Let's work on how to monetise
- the business... - Let me summarise the deal for you.
Peyush and Amit made you a combined offer
of Rs. 1 crore for 2.5% equity at a valuation of Rs. 40 crores.
Contingent or conditional.
I, on the other hand, made you two deals.
Deal number one.
[intense music playing]
- Even in India. - Well done.
[camera shutter clicks]
Good job.
[epic music]
[ethereal music]
The strength of iron increases
with the extent to which it is heated.
And gold shines brighter the more it burns in the fire.
A diamond's shine increases with the number of cuts.
[epic music]
Earthenware is baked
- before becoming useful. - Wow!
Sharks, time is powerful.
And today I want to ask you for some of your time.
[epic music]
Greetings!
[upbeat music]
Nice!
- We started out in the year 2013. - Hmm!
Today, our watches don't just tell time,
in fact, we endeavour to tie a part of Indian history
on our customers' wrists with the help of our limited-edition watches.
Today, our client list includes
Indian celebrities,
film stars, sports stars
and numerous corporate personalities.
[ethereal music]
Sharks, I have a simple question for all of you.
How many luxury brands are founded in India until now?
Brands which became famous all around the world.
[joyful music]
My dream is,
India plus luxury is equal to global.
I need your help to fulfil my dream.
We welcome you to Shark Tank.
In the year 2013, what incident
inspired you to start this business?
Usually, people don't think about starting this business.
Sir, I'm fond of watches and coins since childhood.
My personal collection has more than 300 watches.
Gosh!
In the year 2012,
- I was tinkering with a watch. - Okay.
Just a few moments back, I had received a coin through a courier.
- It was a coin of the British era which has a hole in it. - Yes.
It's the only coin in the history of Indian coinage having a hole.
I collected coins too, so I'm aware of that.
Out of the blue, I decided
to fix that coin inside the watch to see how it looked.
Then I fixed it in the watch and started wearing that watch.
- Many people were inquisitive as to where I bought it from. - Oh, my!
I said, "I made it." So they said, "Please make one for us."
So I got positive feedback from people.
And I wasn't enjoying the job I was doing at that time.
I had only one passion.
I couldn't get a better opportunity to fulfil both my passions.
[ethereal music]
What did you do before? And what is your age?
- Please share... - I'm 38 years old.
You are 38 years old. Where did you grow up? What about your studies?
I hail from Jaipur.
In which school did you study? I'm from Jaipur too.
I studied at SMS school and you studied at St. Xavier's.
- St. Xavier's! Yes! - Alright.
I'm originally from Jaipur but now I'm settled in Mumbai.
You're from Rajasthan.
- Alright. - And I go to Jaipur for outings.
[chuckling]
- I completed my Master's degree in risk management. - Okay.
I did a job for eight months but then I realised I couldn't continue.
[chuckling]
- Then I started my insurance broking firm. - You started alone?
- That's right. - Alright.
I ventured into the watch business
- during that time. - Do you belong to a jewellery family in Jaipur?
No. My father was a chartered accountant.
I'm a first-generation entrepreneur.
Alright!
Who designs your watches?
I make the initial design.
[dreamy music]
- Can we see the products? - Yes!
[motivational music]
I can see a stamp.
It's a postal stamp of 1938.
Okay.
This is the watch I made coincidentally.
[motivational music]
- These are innovative watches. - All of them are unique.
Very nice!
Gaurav, please give us a few watches to examine. If you don't mind.
Thank you!
It's a beautiful watch having a picture of a tiger.
Did you fix it later?
Sir, this tiger picture isn't painted.
Actually, it's the last coin of British India.
- Wow! - It was minted in the year 1947.
- Very nice! - Fabulous! Is it the most expensive watch you have?
In the Pret collection? Yes!
We work in two categories.
One is Pret and the other one is Bespoke.
[suspenseful music]
Pret categories are pre-made collections
Nowadays, people are buying smartwatches too.
- It is in pipeline. - Good!
We want to make a hybrid smartwatch.
A smart band would be attached
to a normal mechanical watch.
[dramatic music]
Our last year's sales were Rs. 1.07 crores.
Our sales from April to 20th August
is Rs. 1.20 crores.
Our Pret collection contributes
- 80% to our sales. - Okay!
And Bespoke contributes 20% to our sales.
What is your profit?
The gross profit is 75%
and the net profit is 25%.
How do you acquire customers? Do you have a showroom?
We use various models.
For instance, our website contributes 65% to our business.
- So people buy your product online? - Yes!
We have a standalone store in Jaipur.
Yes.
in one year. Approximately, 150-200 watches.
Yes. From the Pret collection.
But why are your sales less?
[tense music]
Let me share the reason.
In the watch business,
especially if you want to present yourself as a luxury watchmaker,
you need deep pockets.
- Or Kapoor Watch Company. - The Kapoor Watch Company.
I approached the watch retailers.
I requested them to keep my watches.
They replied, "we don't keep
Indian watches. We deal only in Swiss brands."
[sweeping music]
To break this mindset,
I entered the market through five-star hotels.
We are planning something for scaleability.
We will introduce the concept of instant Bespoke watches.
In this concept, we'll make a customised watch
within 15 minutes at our stores live.
Please have a look.
How much does this watch cost?
This watch costs Rs. 55,000.
Gaurav, I have an issue.
If you are selling watches for Rs. 20,000
and for Rs. 25 lakhs too,
it creates a differentiation in the brand strategy.
You can't target different categories of consumers.
[tense music]
Sir, you're right.
But when we start a business,
we employ some strategies for survival.
- No! Not in this business. - We don't agree.
I mean when I started out.
- When I started my business. - I agree that you do it for survival.
You sold cheap watches for survival
and later on, you start selling shirts. You can't do that.
No. That can't be done.
You created confusion in your mind
as well as the consumer's mind about your identity.
Gaurav, I have made my decision.
[sweeping music]
I'm interested in the watch industry.
There are two types of customers in this industry.
Either they want convenience.
As Aman pointed out, they want wearables and smartwatches.
The second one is the aspirational class.
Right? An aspirational class is the one
who saves money
to buy an expensive piece of jewellery.
And ego plays a huge factor in it.
Alright.
For that reason, you could scale up
to an extent for sure.
- I think you should open stores. - Okay.
You should fine-tune your branding.
For example, your design, logo
and inscription on the watches.
Many watches were inscribed nicely but others weren't so impactful.
Detailing matters in a premium brand.
[tense music]
Today I want to be out of it because
the path to building a big business
isn't clear in your case. But I want
- you to make a luxury brand in India. - Okay.
So best of luck! I want you to be successful and I hope you will.
you achieved a yearly sale of Rs. 2.50 crores.
Sir, the run rate is Rs. 4 crores this year.
Alright. I accept that you earned Rs. 4 crores this year.
I believe that the company name you chose isn't right.
I think you're the designer.
You should name it Gaurav Mehta.
If you do that,
it would become aspirational. "I want to buy a Gaurav Mehta Watch."
But your product is a designer's product.
It's an artist's product.
I don't think it's an investible company.
So I want to be out today.
[suspenseful music]
But I wish you the best.
My final advice would be
if you want to cater to both categories of customers,
increase the price of the super-luxury brand at least.
And sell the cheaper watches under a different name.
- Okay? All the best to you. - Thank you!
The company's strategy isn't clear. Sometimes it appears to be B2B.
It would be a lumpy business. As you may get orders or you may not.
There's an exit barrier because it isn't easy to exit this business.
But I want to tell you
that India would succeed if you succeed.
If you make Jaipur Watch Company a global company,
it would be great to hear the name of our city.
I mean I'll be the biggest cheerleader.
I'm out for now. But all the best. Bring glory to Jaipur.
Thank you!
Bring glory to India and not just Jaipur.
[sweeping music]
It's not that India never launched luxury brands.
I love Oberoi Hotels and Taj Hotels.
I like their hospitality more than any other hotel in the world.
[suspenseful music]
That's right.
So luxury brands are being launched and will be launched in future too.
But I'd like to help you in making a brand strategy.
I won't help you here by investing.
But I'll help you outside this place.
I'll discuss your business with you.
It's a great endeavour and it can scale up.
- Thank you so much, Gaurav! Bye! - Thank you so much!
- Thank you so much, Gaurav. - Thank you!
Bye! All the best!
[ethereal music]
'Let's watch Shark Xperience.'
'Hi, Amit. Jayanti from Visakhapatnam'
'has a question for you.'
'Shark Tank season 1 was a super hit.'
'When you came to know that you are the new Shark in season 2,'
'what was your reaction? And what preparation did you do?'
I was excited
because I was getting a chance
to bring the wisdom of running a business for 15 years to Shark Tank.
I didn't do any preparation.
First of all, I watched all the episodes of the last season.
Earlier, I watched them from a different perspective.
This time, I watched it as a Shark.
Businesses of varying dimensions come here.