1 00:00:09,840 --> 00:00:11,800 Hello, I am Rahul Dua. 2 00:00:12,040 --> 00:00:14,120 Welcome to Shark Tank season 2. 3 00:00:14,400 --> 00:00:17,240 Co-presented by Acko, Payments partner Cashfree payments. 4 00:00:17,400 --> 00:00:18,997 Ideas partner, Smallcase. 5 00:00:19,080 --> 00:00:20,480 Co-powered by PokerBaazi. 6 00:00:20,640 --> 00:00:23,640 Money partner 5 Money. Online food partner, Eatfit. 7 00:00:23,920 --> 00:00:25,400 Eyewear partner, Lenskart. 8 00:00:25,560 --> 00:00:26,440 Are you ready? 9 00:00:26,607 --> 00:00:29,557 Because pitchers, Sharks and hosts are all ready. 10 00:00:29,640 --> 00:00:31,600 [bubbling] [ethereal music] 11 00:00:48,440 --> 00:00:51,000 [inspirational music] 12 00:01:12,440 --> 00:01:15,360 [ethereal music] 13 00:01:24,800 --> 00:01:26,600 {\an8}Greetings, Sharks! My name is Siddhant. 14 00:01:27,280 --> 00:01:29,160 {\an8}Greetings! I'm Ambika. 15 00:01:29,360 --> 00:01:31,037 {\an8}Greetings, Sharks! My name is Vinita. 16 00:01:31,120 --> 00:01:33,037 {\an8}Greetings, Sharks! My name is Vibhor Agarwal. 17 00:01:33,120 --> 00:01:35,600 {\an8}Greetings, Sharks! I'm RK Choudhary. 18 00:01:35,840 --> 00:01:39,280 People don't recognise me by my real name but by my pet name Nanaji. 19 00:01:39,400 --> 00:01:41,157 [chuckling] 20 00:01:41,240 --> 00:01:43,317 - Sir, would you like to sit? - Yes, sir. 21 00:01:43,400 --> 00:01:45,400 You will find a chair at the back. 22 00:01:50,600 --> 00:01:54,080 - Welcome to Shark Tank. - Thank you! 23 00:01:54,800 --> 00:01:57,677 Sharks, Nanaji was fond of Ayurveda since childhood. 24 00:01:57,760 --> 00:01:59,357 [thrilling music] 25 00:01:59,440 --> 00:02:01,797 He wrote thousands of pages after his research. 26 00:02:01,880 --> 00:02:04,517 My mother experienced hair loss after the first Covid wave. 27 00:02:04,600 --> 00:02:07,197 She tried numerous products available in the market 28 00:02:07,280 --> 00:02:09,240 - but they didn't help. - Alright. 29 00:02:09,640 --> 00:02:13,077 I resolved to solve my daughter's problem 30 00:02:13,160 --> 00:02:15,797 of hair loss at any cost. 31 00:02:15,880 --> 00:02:17,240 Wonderful! 32 00:02:17,760 --> 00:02:20,320 So I prepared a formula 33 00:02:20,440 --> 00:02:22,040 after thorough research. 34 00:02:23,240 --> 00:02:25,720 I prepared a type of oil 35 00:02:25,840 --> 00:02:27,520 that has miraculous effects. 36 00:02:28,760 --> 00:02:31,040 It cured my hair loss problem. 37 00:02:31,160 --> 00:02:34,477 So we started distributing this oil for free 38 00:02:34,560 --> 00:02:36,237 to our family and friends. 39 00:02:36,320 --> 00:02:40,117 This oil became popular in our country as well as around the world. 40 00:02:40,200 --> 00:02:42,277 It turned my dad 41 00:02:42,360 --> 00:02:44,840 into a superstar overnight. 42 00:02:44,960 --> 00:02:46,680 [chuckling] 43 00:02:49,280 --> 00:02:50,517 My dad taught us 44 00:02:50,600 --> 00:02:53,997 that there's no age limit to start a business. 45 00:02:54,080 --> 00:02:55,717 Avimee's journey began this way. 46 00:02:55,800 --> 00:02:57,120 [ethereal music] 47 00:02:57,240 --> 00:02:58,317 Avimee is a brand 48 00:02:58,400 --> 00:03:01,040 {\an8}which is a mixture of Ayurvedic and modern ingredients. 49 00:03:02,320 --> 00:03:05,760 {\an8}Avimee makes haircare products and skincare products. 50 00:03:06,720 --> 00:03:09,317 {\an8}We believe in making result-oriented products 51 00:03:09,400 --> 00:03:11,760 so that our consumers market our products. 52 00:03:11,880 --> 00:03:13,437 [upbeat music] 53 00:03:13,520 --> 00:03:16,277 {\an8}When we started this brand 13 months ago, 54 00:03:16,360 --> 00:03:17,717 {\an8}we had only three products. 55 00:03:17,800 --> 00:03:19,760 {\an8}But now we have a range of 27 products. 56 00:03:21,560 --> 00:03:24,600 {\an8}I want to use my knowledge of Ayurveda and my passion 57 00:03:24,880 --> 00:03:28,677 to solve people's hair and skin problems 58 00:03:28,760 --> 00:03:30,557 and spread happiness. 59 00:03:30,640 --> 00:03:31,840 Alright. 60 00:03:32,480 --> 00:03:35,597 I have resolved to regrow people's hair at any cost. 61 00:03:35,680 --> 00:03:37,200 Awesome! 62 00:03:38,160 --> 00:03:40,757 Sharks, to fulfil Nanaji's vision, 63 00:03:40,840 --> 00:03:44,240 we need Rs. 2.8 crores for 0.5% equity. 64 00:03:44,400 --> 00:03:45,250 0.5? 65 00:03:45,360 --> 00:03:46,210 {\an8}Yes! 66 00:03:48,520 --> 00:03:49,437 {\an8}Wow! 67 00:03:49,520 --> 00:03:51,877 {\an8}- You asked for a big amount. - Rs. 560 crores is the valuation. 68 00:03:51,960 --> 00:03:53,597 {\an8}What could be the valuation? 69 00:03:53,680 --> 00:03:55,953 {\an8}- Rs. 560 crores! Yes! - So you already calculated! 70 00:03:58,680 --> 00:04:01,557 Sharks, will you support us in our journey? 71 00:04:01,640 --> 00:04:04,720 We'll try to support you. 72 00:04:05,280 --> 00:04:07,357 But let's understand your business first. 73 00:04:07,440 --> 00:04:09,880 {\an8}Nanaji, first of all, we want to know 74 00:04:10,400 --> 00:04:13,157 {\an8}how you became curious about Ayurveda. 75 00:04:13,240 --> 00:04:16,397 {\an8}Are you an Ayurvedic practitioner? 76 00:04:16,480 --> 00:04:19,157 - I was born in Bhagalpur, Bihar. - Okay. 77 00:04:19,240 --> 00:04:22,277 I completed my bachelor's degree in commerce stream there. 78 00:04:22,360 --> 00:04:23,637 What year are you talking about? 79 00:04:23,720 --> 00:04:24,837 1957. 80 00:04:24,920 --> 00:04:27,037 It means India was independent. 81 00:04:27,120 --> 00:04:28,277 I was ten years old. 82 00:04:28,360 --> 00:04:30,880 Wow! You must have seen British-era India. 83 00:04:31,360 --> 00:04:32,600 Amazing! 84 00:04:34,360 --> 00:04:35,277 Wonderful! 85 00:04:35,360 --> 00:04:37,360 Fabulous! 86 00:04:38,080 --> 00:04:41,557 {\an8}Nanaji, you looked handsome back then and even now. 87 00:04:41,640 --> 00:04:43,680 Thank you! [chuckling] 88 00:04:44,920 --> 00:04:46,160 Superb! 89 00:04:47,160 --> 00:04:48,480 I was fond of reading books 90 00:04:49,000 --> 00:04:51,760 since childhood. 91 00:04:52,560 --> 00:04:55,157 I was fond of Ayurveda specifically. 92 00:04:55,240 --> 00:04:57,637 - So we may call you a scientist. - Yes! 93 00:04:57,720 --> 00:05:01,237 {\an8}So you decided to experiment on your daughter's hair after Covid. 94 00:05:01,320 --> 00:05:03,757 {\an8}Either her hair will regrow or she'd lose all her hair. 95 00:05:03,840 --> 00:05:04,917 Something similar happened. 96 00:05:05,000 --> 00:05:07,797 Actually, when I finished making the oil, 97 00:05:07,880 --> 00:05:09,760 I asked her to apply it to her hair. 98 00:05:09,880 --> 00:05:11,237 She said, "no, dad. You apply it first." 99 00:05:11,320 --> 00:05:13,520 [laughing] [clapping] 100 00:05:14,440 --> 00:05:15,757 That's amazing! 101 00:05:15,840 --> 00:05:18,120 I oiled my hair for two months. 102 00:05:18,480 --> 00:05:20,397 One day my daughter said, 103 00:05:20,480 --> 00:05:23,797 "Dad, it seems there's some hair regrowth." 104 00:05:23,880 --> 00:05:25,440 It was shocking 105 00:05:25,560 --> 00:05:28,920 to have hair regrowth at 85 years of age. It was like a cricket pitch. 106 00:05:29,200 --> 00:05:30,320 Gosh! 107 00:05:32,040 --> 00:05:33,957 You said that you're 85 years old. 108 00:05:34,040 --> 00:05:35,917 - Now he is 86 years old. - Now I'm 86 years old. 109 00:05:36,000 --> 00:05:37,400 Wow! 110 00:05:37,800 --> 00:05:39,917 Amazing! Nobody will believe it. 111 00:05:40,000 --> 00:05:41,357 {\an8}Many people said to me, 112 00:05:41,440 --> 00:05:44,600 {\an8}"People retire at 60 years but you are 85 years old." 113 00:05:44,694 --> 00:05:46,357 {\an8}I answered, 114 00:05:46,440 --> 00:05:49,037 {\an8}- "I deleted the word 'retirement' from my dictionary." - Awesome! 115 00:05:49,120 --> 00:05:51,200 - Amazing! - My dad says the same thing. 116 00:05:52,680 --> 00:05:55,677 {\an8}My grandfather worked until the day he died. 117 00:05:55,760 --> 00:05:58,280 {\an8}You remind me of my grandfather. 118 00:05:58,400 --> 00:06:00,480 [ethereal music] 119 00:06:01,080 --> 00:06:02,437 I'm glad to know 120 00:06:02,520 --> 00:06:05,020 that you made a foray into entrepreneurship at this age. 121 00:06:05,840 --> 00:06:09,200 What roles do your family members play in Avimee? 122 00:06:09,640 --> 00:06:11,720 Sir, I handle the business operations. 123 00:06:11,840 --> 00:06:13,920 You may call me the brain behind Avimee. 124 00:06:14,760 --> 00:06:15,957 I'm a CA by profession. 125 00:06:16,040 --> 00:06:18,360 Ambika is a half-CA as she's my wife. 126 00:06:18,880 --> 00:06:20,357 What do you mean by half-CA? 127 00:06:20,440 --> 00:06:22,557 I didn't let her become a CA and married her instead. 128 00:06:22,640 --> 00:06:24,240 [laughing] 129 00:06:24,360 --> 00:06:26,077 She looks after the marketing department. 130 00:06:26,160 --> 00:06:29,037 She's a blogger on Instagram and she has around 4 lakh followers. 131 00:06:29,120 --> 00:06:30,597 - Wow! - Wow! 132 00:06:30,680 --> 00:06:33,160 Nanaji's invention was unbelievable. 133 00:06:34,200 --> 00:06:35,997 We just shared his journey 134 00:06:36,080 --> 00:06:37,920 on Instagram. 135 00:06:38,040 --> 00:06:39,880 People appreciated our work 136 00:06:40,000 --> 00:06:43,400 and people made enquiries. There was an overnight demand for oil. 137 00:06:43,520 --> 00:06:45,757 How popular was your reel? How much traction did you gain? 138 00:06:45,840 --> 00:06:48,160 Around 2.5 million people saw it. 139 00:06:49,960 --> 00:06:51,477 Organic! It was unpaid? 140 00:06:51,560 --> 00:06:54,957 We have never paid for advertisements until now. 141 00:06:55,040 --> 00:06:56,557 You are running your business organically. 142 00:06:56,640 --> 00:06:58,077 - Our advertisement expense is zero. - It's zero. 143 00:06:58,160 --> 00:06:59,757 We don't have an advertisement column on our balance sheet. 144 00:06:59,840 --> 00:07:00,960 - Wow! - Amazing! 145 00:07:01,080 --> 00:07:04,040 {\an8}It means your product is in itself a quality product. 146 00:07:04,680 --> 00:07:06,717 How are the four of you related to each other? 147 00:07:06,800 --> 00:07:08,520 He's my grandfather. She's my wife, 148 00:07:08,760 --> 00:07:10,317 that's my mother and he's my brother. 149 00:07:10,400 --> 00:07:13,157 Nanaji, what is the equity split between all of you? 150 00:07:13,240 --> 00:07:16,560 Are they just making you work or giving you a salary and equity too? 151 00:07:16,720 --> 00:07:18,400 I asked myself 152 00:07:18,920 --> 00:07:21,837 if I wanted to be their business partner. 153 00:07:21,920 --> 00:07:23,917 All of them are close to my heart. 154 00:07:24,000 --> 00:07:25,520 - Yes! - So cute! 155 00:07:26,920 --> 00:07:29,080 How can I be their business partner? 156 00:07:29,200 --> 00:07:30,437 I raised them. 157 00:07:30,520 --> 00:07:33,280 They belong to me so everything is mine. 158 00:07:33,640 --> 00:07:35,000 There aren't two entities. 159 00:07:35,120 --> 00:07:37,000 A partnership requires two people. 160 00:07:38,480 --> 00:07:40,480 You remind me of my grandfather. 161 00:07:41,200 --> 00:07:43,760 I want to touch your feet. 162 00:07:44,160 --> 00:07:46,240 My grandfather used to say the same thing. 163 00:07:48,160 --> 00:07:52,000 [mellow music] 164 00:07:54,720 --> 00:07:56,320 He is so sweet. 165 00:07:58,040 --> 00:07:59,880 Is your company a private limited firm? 166 00:08:00,000 --> 00:08:00,797 It's a private limited company. 167 00:08:00,880 --> 00:08:02,637 {\an8}Vibhor has 33.3% equity. 168 00:08:02,720 --> 00:08:05,280 {\an8}My mom has 33.3% equity and Ambika also has 33.3% equity. 169 00:08:05,400 --> 00:08:06,837 {\an8}- What about you? - I'm the managing director. 170 00:08:06,920 --> 00:08:10,000 {\an8}It was a family decision to make equal splits. 171 00:08:10,120 --> 00:08:11,557 Please tell us about your business. 172 00:08:11,640 --> 00:08:13,917 {\an8}Tell us the sales figures and when you started. 173 00:08:14,000 --> 00:08:14,877 {\an8}What are the yearly sales? 174 00:08:14,960 --> 00:08:16,920 - Their sales must be astounding. - Yes! 175 00:08:17,080 --> 00:08:19,517 Sir, we started in August 2021. 176 00:08:19,600 --> 00:08:23,317 Between August 2021 and March 2022, 177 00:08:23,400 --> 00:08:25,917 {\an8}- our net sales were Rs. 6.5 crores. - Wow! 178 00:08:26,000 --> 00:08:26,917 {\an8}Very nice! 179 00:08:27,000 --> 00:08:29,797 {\an8}Our sale in April was Rs. 95 lakhs. 180 00:08:29,880 --> 00:08:31,757 {\an8}For the months of May and June, it was Rs. 1.25 crores. 181 00:08:31,840 --> 00:08:32,957 {\an8}In the months of July and August, 182 00:08:33,040 --> 00:08:35,157 {\an8}it was Rs. 1.75 crores and Rs. 1.65 crores respectively. 183 00:08:35,240 --> 00:08:37,317 {\an8}How much will be the sale this year? 184 00:08:37,400 --> 00:08:39,877 This year, we'll make a sale of around Rs. 20 crores. 185 00:08:39,960 --> 00:08:41,277 {\an8}The sale can surpass this number 186 00:08:41,360 --> 00:08:42,877 {\an8}because our products are approved by Dubai. 187 00:08:42,960 --> 00:08:44,597 {\an8}Dubai is a huge international market. 188 00:08:44,680 --> 00:08:47,760 And our very first order has a net worth of Rs. 1 crore. 189 00:08:47,880 --> 00:08:49,037 Okay! 190 00:08:49,120 --> 00:08:50,717 These are the minimum figures we are sharing with you. 191 00:08:50,800 --> 00:08:52,117 We are in the bestseller category 192 00:08:52,200 --> 00:08:54,200 of Amazon within a month. We're ranked ninth. 193 00:08:55,200 --> 00:08:57,960 Please split the sale of Rs. 1.65 crores. 194 00:08:58,080 --> 00:08:59,357 How much did you sell on each platform? 195 00:08:59,440 --> 00:09:01,557 {\an8}Sir, around 88% of our sale is through our website 196 00:09:01,640 --> 00:09:03,595 {\an8}and 12% of the sale is from the marketplace. 197 00:09:04,120 --> 00:09:07,880 {\an8}- Please show us the products. We'll talk about your business too. - Yes! 198 00:09:08,400 --> 00:09:10,317 Let's check their packaging and other things. 199 00:09:10,400 --> 00:09:12,837 It's our highest-selling product, Keshpallav Hair Oil. 200 00:09:12,920 --> 00:09:15,357 - Which is your second bestseller? - It's a serum. 201 00:09:15,440 --> 00:09:16,397 It's a bestseller nowadays. 202 00:09:16,480 --> 00:09:17,757 - Show me the oil, please. - Here you are. 203 00:09:17,840 --> 00:09:19,437 All of them want the oil! 204 00:09:19,520 --> 00:09:20,357 I'll go and bring more. 205 00:09:20,440 --> 00:09:22,357 Please bring one for me. My mom will be elated. 206 00:09:22,440 --> 00:09:24,877 - What's this? - It's a soap. 207 00:09:24,960 --> 00:09:27,480 [upbeat music] 208 00:09:29,120 --> 00:09:32,477 You are holding our new face wash. It has been sent for approval. 209 00:09:32,560 --> 00:09:34,317 We also have Ortho CP Oil 210 00:09:34,400 --> 00:09:36,637 which was made by Nanaji for my granny 30 years ago. 211 00:09:36,720 --> 00:09:39,837 You are holding our shampoo which is one of the highest-selling items. 212 00:09:39,920 --> 00:09:43,077 What is the intellectual property that defends your oil? 213 00:09:43,160 --> 00:09:45,797 - We have the formula and the process of making it. - Correct! 214 00:09:45,880 --> 00:09:49,117 {\an8}What's the basis of Rs. 560 crores valuation? 215 00:09:49,200 --> 00:09:50,120 {\an8}[suspenseful music] 216 00:09:50,240 --> 00:09:53,117 {\an8}Sir, our GP is nearly 69%. 217 00:09:53,200 --> 00:09:53,997 What does GP stand for? 218 00:09:54,080 --> 00:09:55,717 {\an8}- Gross Profit! - Our gross profit is 69%. 219 00:09:55,800 --> 00:09:58,357 {\an8}Please explain it in simpler terms. If a product worth Rs. 100 is sold, 220 00:09:58,440 --> 00:10:00,717 how much was the cost? And give us the cost breakdown. 221 00:10:00,800 --> 00:10:04,117 {\an8}Sir, 50% of the sales are of Keshpallav Oil. It costs Rs. 550. 222 00:10:04,200 --> 00:10:06,757 {\an8}Rs. 100 of its cost is spent on GST. 223 00:10:06,840 --> 00:10:08,877 {\an8}We get a net profit of Rs. 450. 224 00:10:08,960 --> 00:10:11,600 {\an8}Rs. 135 is our material cost. 225 00:10:12,280 --> 00:10:14,200 {\an8}Rs. 5 is our labour cost. 226 00:10:14,880 --> 00:10:16,317 {\an8}Packaging costs Rs. 10 227 00:10:16,400 --> 00:10:18,317 {\an8}and Rs. 95 is incurred as shipment charge, 228 00:10:18,400 --> 00:10:20,837 {\an8}establishment cost, staff salary and all the other things. 229 00:10:20,920 --> 00:10:24,200 {\an8}- So you spent Rs. 250 in total and you saved Rs. 200. - Yes! 230 00:10:24,320 --> 00:10:26,457 {\an8}This economics is just for 50% of your business. 231 00:10:27,120 --> 00:10:29,677 - It's 50% of the business. - What do you sell in the remaining 50%? 232 00:10:29,760 --> 00:10:33,840 {\an8}Another 30% of our sales are of Hair Tone Scalp Spray. 233 00:10:34,040 --> 00:10:35,397 {\an8}And 10% of our sales include the remaining products. 234 00:10:35,480 --> 00:10:38,480 {\an8}It helps us make a gross profit of 80%. 235 00:10:38,600 --> 00:10:41,680 {\an8}- So two of your products comprise 80% of the sale. - Yes! 236 00:10:41,800 --> 00:10:45,237 - And the remaining 25 SKUs comprise 20% of the sale. - Yes! 237 00:10:45,320 --> 00:10:47,440 Then why do you have the remaining 25 SKUs? 238 00:10:47,560 --> 00:10:48,997 [tense music] 239 00:10:49,080 --> 00:10:51,437 You needn't foray into skincare 240 00:10:51,520 --> 00:10:53,920 when you're known for haircare. 241 00:10:55,160 --> 00:10:57,237 Did you calculate your repeat usage? 242 00:10:57,320 --> 00:11:00,240 The data from June till now shows a 32% repeat ratio. 243 00:11:00,360 --> 00:11:01,877 {\an8}- Let's come back to valuation. - Yes. 244 00:11:01,960 --> 00:11:04,360 {\an8}How did you estimate a valuation of Rs. 560 crores? 245 00:11:04,640 --> 00:11:06,797 Sir, I conducted a PR review. 246 00:11:06,880 --> 00:11:09,957 I read the review of a company called Vedic. 247 00:11:10,040 --> 00:11:13,917 They have Rs. 4.5 crores PAT for a revenue of Rs. 55 crores. 248 00:11:14,000 --> 00:11:15,682 And their valuation is Rs. 400 crores. 249 00:11:16,840 --> 00:11:18,800 And if we see the listed companies, 250 00:11:18,920 --> 00:11:21,397 minimum 30 times of the profit is considerable. 251 00:11:21,480 --> 00:11:24,960 We'll earn a net profit of Rs. 9 crores this year after tax. 252 00:11:25,160 --> 00:11:27,437 And the next year, our profit would be Rs. 20 crores. 253 00:11:27,520 --> 00:11:29,197 We estimated our valuation accordingly. 254 00:11:29,280 --> 00:11:31,200 Even if you calculate that way, 255 00:11:31,320 --> 00:11:33,957 your demand is high. Your revenue is less than half. 256 00:11:34,040 --> 00:11:35,760 [sweeping music] 257 00:11:36,200 --> 00:11:39,480 Sir, I think the valuation is always forward-looking. 258 00:11:39,880 --> 00:11:43,397 The next year, we'll earn a net profit of Rs. 20 crores. 259 00:11:43,480 --> 00:11:45,440 How will the Sharks earn, my friend? 260 00:11:47,840 --> 00:11:50,960 How can you make a forward-looking projection at this stage? 261 00:11:51,080 --> 00:11:55,037 We can't be sure if half of these categories will exist the next year. 262 00:11:55,120 --> 00:11:57,880 The forward-looking valuation is done for mature businesses. 263 00:11:58,000 --> 00:12:00,040 You used multiple concepts 264 00:12:00,160 --> 00:12:02,517 of private equity and public equity 265 00:12:02,600 --> 00:12:04,800 and made the best valuation with it. 266 00:12:04,920 --> 00:12:06,640 [thrilling music] 267 00:12:07,840 --> 00:12:10,317 Sir, I can assure you 268 00:12:10,400 --> 00:12:13,160 that I'll double the money invested 269 00:12:13,400 --> 00:12:14,720 by any one of you. 270 00:12:15,160 --> 00:12:16,997 [laughing] 271 00:12:17,080 --> 00:12:19,277 Even if your sale grows ten times, 272 00:12:19,360 --> 00:12:21,880 our money can't be recovered with 0.5% equity. 273 00:12:23,480 --> 00:12:24,520 Yes. 274 00:12:24,640 --> 00:12:25,797 I understand. 275 00:12:25,880 --> 00:12:27,108 How will you use the money? 276 00:12:27,640 --> 00:12:29,557 - Right now we are using a building on rent. - Okay. 277 00:12:29,640 --> 00:12:32,437 The premises are too small to manufacture for next year's sales. 278 00:12:32,520 --> 00:12:35,237 So we need to build our own factory. 279 00:12:35,320 --> 00:12:38,457 And we need Rs. 5 crores to Rs. 6 crores capital expenditure for that. 280 00:12:39,120 --> 00:12:41,600 So you need the money to establish a factory. 281 00:12:41,720 --> 00:12:42,811 For capital expenditure. 282 00:12:43,160 --> 00:12:44,837 Nanaji, what do you have to say about it? 283 00:12:44,920 --> 00:12:47,277 Is Siddhant right? Or your grandson is immature? 284 00:12:47,360 --> 00:12:49,280 My father used to say, 285 00:12:49,400 --> 00:12:51,757 "If you want to sell a horse, please keep four donkeys beside it." 286 00:12:51,840 --> 00:12:54,160 [laughing] 287 00:12:55,920 --> 00:12:57,557 Are you referring to these four people? 288 00:12:57,640 --> 00:13:00,240 No! They are my heroes. 289 00:13:02,720 --> 00:13:04,120 I have made my decision. 290 00:13:05,920 --> 00:13:08,837 I'm impressed by Nanaji 291 00:13:08,920 --> 00:13:12,240 as he started a new business at such an old age. 292 00:13:12,360 --> 00:13:13,797 It's commendable. 293 00:13:13,880 --> 00:13:16,237 But I want to be out of it today 294 00:13:16,320 --> 00:13:18,440 because your business is vast. 295 00:13:19,200 --> 00:13:21,437 You are making a profit of Rs. 8 crores to Rs. 9 crores. 296 00:13:21,520 --> 00:13:24,677 I don't think I can help you much. 297 00:13:24,760 --> 00:13:27,877 So, I'm out. But your business is great and you must continue. 298 00:13:27,960 --> 00:13:30,160 [sweeping music] 299 00:13:30,400 --> 00:13:32,760 Firstly, Nanaji, you are an inspiration. 300 00:13:33,160 --> 00:13:34,560 Thank you! 301 00:13:34,680 --> 00:13:36,317 I'm inspired 302 00:13:36,400 --> 00:13:38,997 to see you and hear your thoughts. 303 00:13:39,080 --> 00:13:41,437 My number one principle 304 00:13:41,520 --> 00:13:44,077 for my brands in Emcure is, 305 00:13:44,160 --> 00:13:46,160 less is more. 306 00:13:47,400 --> 00:13:49,757 The focus, for one, 307 00:13:49,840 --> 00:13:52,040 when you think about "less is more", 308 00:13:52,160 --> 00:13:53,760 - that's important. - Yes, ma'am. 309 00:13:53,960 --> 00:13:55,440 And I find it missing. 310 00:13:56,680 --> 00:13:58,680 For that reason, I'm out. 311 00:14:00,720 --> 00:14:02,560 The valuation is Rs. 560 crores. 312 00:14:03,800 --> 00:14:06,880 It's a bit high for me. 313 00:14:08,000 --> 00:14:09,397 Let me give you a piece of advice. 314 00:14:09,480 --> 00:14:10,840 Focus on marketing. 315 00:14:11,080 --> 00:14:15,677 The sooner you market your products and grow your brand, 316 00:14:15,760 --> 00:14:17,040 the better it'll be for you. 317 00:14:17,720 --> 00:14:18,557 Yes. 318 00:14:18,640 --> 00:14:22,080 Your valuation is beyond my understanding, to be frank. 319 00:14:22,840 --> 00:14:25,237 In my opinion, the valuation of the business falls roughly 320 00:14:25,320 --> 00:14:26,717 between Rs. 40 to 50 crores. 321 00:14:26,800 --> 00:14:28,360 Rs. 560 crores seems implausible. 322 00:14:28,520 --> 00:14:29,370 Okay. 323 00:14:29,640 --> 00:14:30,800 If I make you an offer… 324 00:14:33,000 --> 00:14:34,228 I will give you Rs. 1 crore 325 00:14:35,760 --> 00:14:38,037 at Rs. 40 crores valuation. The rest would be debt. 326 00:14:38,120 --> 00:14:39,077 {\an8}Okay. 327 00:14:39,160 --> 00:14:41,680 {\an8}So, I am asking you for around 2.5% equity. 328 00:14:42,320 --> 00:14:43,200 {\an8}Okay. 329 00:14:43,440 --> 00:14:45,760 {\an8}Okay, let me make you an offer too. 330 00:14:45,880 --> 00:14:48,000 [intense music playing] 331 00:14:48,440 --> 00:14:50,320 I'll give Rs. 70 lakhs equity. 332 00:14:51,960 --> 00:14:53,877 At Rs. 35 crores valuation. 333 00:14:53,960 --> 00:14:55,677 Your dilution will be 2%. 334 00:14:55,760 --> 00:14:57,397 I will give you the rest in debt 335 00:14:57,480 --> 00:15:00,760 - so that you can invest it in a manufacturing plant. - Okay. 336 00:15:01,000 --> 00:15:03,480 My interest rate would be 15%. 337 00:15:03,600 --> 00:15:06,040 {\an8}That's my offer. The decision is up to you. 338 00:15:08,360 --> 00:15:09,840 {\an8}His valuation is lower. 339 00:15:11,040 --> 00:15:11,890 {\an8}Yes. 340 00:15:12,000 --> 00:15:14,040 And he is charging interest at 15%. 341 00:15:14,280 --> 00:15:16,880 My interest rate is 12%. I'm sorry I forgot to mention it. 342 00:15:17,000 --> 00:15:18,917 My interest is lower by 3% 343 00:15:19,000 --> 00:15:20,877 {\an8}and my valuation is higher by Rs. 5 crores. 344 00:15:20,960 --> 00:15:22,080 {\an8}The decision is yours. 345 00:15:22,240 --> 00:15:24,040 {\an8}[intense music playing] 346 00:15:24,240 --> 00:15:26,277 {\an8}He wasn't going to quote a lower interest rate, 347 00:15:26,360 --> 00:15:28,200 {\an8}he did it to one-up me. 348 00:15:28,400 --> 00:15:30,237 - [unanimous laughter] - He didn't mention it before. 349 00:15:30,320 --> 00:15:32,320 Later, he'd have quoted 25 to 30%! 350 00:15:34,360 --> 00:15:36,120 You may make your decision now. 351 00:15:36,240 --> 00:15:37,437 May we step out? 352 00:15:37,520 --> 00:15:38,677 - Certainly. - Yes, please. 353 00:15:38,760 --> 00:15:42,200 [tense music playing] 354 00:15:45,160 --> 00:15:47,237 {\an8}- We shouldn't take debt. It'll be an issue. - Yes. 355 00:15:47,320 --> 00:15:48,957 {\an8}- It'll just put pressure. - Yes. 356 00:15:49,040 --> 00:15:50,197 {\an8}- Do away with it. - Yes. 357 00:15:50,280 --> 00:15:52,160 {\an8}- Skip debt and agree to the rest. - Okay. 358 00:15:52,400 --> 00:15:54,120 {\an8}[tense music playing] 359 00:15:54,880 --> 00:15:56,157 Welcome back. 360 00:15:56,240 --> 00:15:57,077 - Thank you. - Thank you. 361 00:15:57,160 --> 00:15:58,960 Welcome once again. 362 00:16:01,520 --> 00:16:03,800 - We don't wish to opt for debt. - Okay. 363 00:16:03,920 --> 00:16:07,797 Our counteroffer for both of you is Rs. 2.8 crores for 1.5% equity. 364 00:16:07,880 --> 00:16:09,200 {\an8}- Okay. - Gosh! 365 00:16:10,280 --> 00:16:12,597 {\an8}The valuation comes up to Rs. 186 crores. 366 00:16:12,680 --> 00:16:13,677 Tell me one thing. 367 00:16:13,760 --> 00:16:15,757 Why are you so against taking debt? 368 00:16:15,840 --> 00:16:18,597 You are in need of debt at the moment. 369 00:16:18,680 --> 00:16:21,197 You never put equity in setting up a manufacturing plant. 370 00:16:21,280 --> 00:16:22,317 It's really expensive. 371 00:16:22,400 --> 00:16:24,120 [intense music playing] 372 00:16:24,560 --> 00:16:26,877 Taking debt puts you under continuous pressure 373 00:16:26,960 --> 00:16:29,120 of repaying the money. 374 00:16:29,240 --> 00:16:31,320 You start a business for your peace of mind. 375 00:16:31,440 --> 00:16:32,757 It shouldn't put you under pressure. 376 00:16:32,840 --> 00:16:34,117 [Sharks laugh] 377 00:16:34,200 --> 00:16:35,397 - I agree. - You are right. 378 00:16:35,480 --> 00:16:36,760 You deserve peace. 379 00:16:38,560 --> 00:16:40,720 I will stand by my offer 380 00:16:40,840 --> 00:16:42,522 {\an8}because I feel I made you a fair offer 381 00:16:43,280 --> 00:16:44,757 {\an8}based on my past experiences. 382 00:16:44,840 --> 00:16:46,640 {\an8}I have seen many D2C businesses through. 383 00:16:47,680 --> 00:16:48,600 You, Anupam? 384 00:16:48,720 --> 00:16:50,000 Yes, I am out. 385 00:16:50,480 --> 00:16:53,040 I can't accept your counteroffer. 386 00:16:53,280 --> 00:16:54,560 Okay. What are your views? 387 00:16:54,720 --> 00:16:57,040 [intense music playing] 388 00:16:58,600 --> 00:17:00,917 - Sorry. I can't go any lower. - Alright then. 389 00:17:01,000 --> 00:17:02,677 - No problem. - Thanks for coming on Shark Tank. 390 00:17:02,760 --> 00:17:04,200 Thank you so much. 391 00:17:04,320 --> 00:17:06,866 - All the best. - Mr. Choudhary, it was nice to meet you. 392 00:17:06,960 --> 00:17:08,117 I seek your blessing, sir! 393 00:17:08,200 --> 00:17:09,760 [chuckling] 394 00:17:10,360 --> 00:17:11,997 I'd like to say something before you go. 395 00:17:12,080 --> 00:17:14,797 This business should be divided into four shares. 396 00:17:14,880 --> 00:17:17,397 - Mr. Choudhary should get 25% equity. - Okay. 397 00:17:17,480 --> 00:17:19,357 Whether he asks for it or not, give it to him. 398 00:17:19,440 --> 00:17:20,760 - Thanks… - That's my advice. 399 00:17:20,880 --> 00:17:22,717 Continue to stay as a joint family. 400 00:17:22,800 --> 00:17:24,357 - It was nice to meet you. - Thank you. Bye. 401 00:17:24,440 --> 00:17:25,360 - Bye. - Thank you. 402 00:17:25,480 --> 00:17:27,720 - Thanks. - Thank you. Bye. 403 00:17:28,080 --> 00:17:30,200 [music playing] 404 00:17:30,760 --> 00:17:34,437 Sir, I am impressed to see the bond your family shares. 405 00:17:34,520 --> 00:17:38,997 What do you say to strengthening the process of online payments? 406 00:17:39,080 --> 00:17:41,157 Cashfree Payments gives you 407 00:17:41,240 --> 00:17:44,077 {\an8}free credits for transactions worth Rs. 50 lakhs. 408 00:17:44,160 --> 00:17:46,957 {\an8}India's high-growth starters use Cashfree Payments 409 00:17:47,040 --> 00:17:48,240 {\an8}for smooth transactions. 410 00:17:48,400 --> 00:17:50,437 {\an8}Let me register your account. 411 00:17:50,520 --> 00:17:51,917 Cashfree Payments gives you 412 00:17:52,000 --> 00:17:53,357 out-of-the-world payment solutions 413 00:17:53,440 --> 00:17:55,000 for your out-of-the-world ideas. 414 00:17:55,240 --> 00:17:56,077 Congratulations. 415 00:17:56,160 --> 00:17:58,397 Free credits worth Rs. 50 lakhs added to your account. 416 00:17:58,480 --> 00:17:59,844 Sir, you may also take a look. 417 00:18:00,400 --> 00:18:02,920 {\an8}Grow your ideas into a business with Cashfree Payments. 418 00:18:03,120 --> 00:18:05,640 [bubbles rising] 419 00:18:06,400 --> 00:18:07,360 [music playing] 420 00:18:07,520 --> 00:18:09,397 {\an8}'Last year, from a small town, ' 421 00:18:09,480 --> 00:18:12,522 {\an8}'with a solution to the problem of the hearts of millions of people' 422 00:18:12,605 --> 00:18:14,920 'came the founders of Sunfox Technologies.' 423 00:18:16,800 --> 00:18:19,237 - This is our heart. - Aw! 424 00:18:19,320 --> 00:18:21,760 It jumps for joy when it's happy. 425 00:18:23,040 --> 00:18:25,400 And when it's sad, it sinks. 426 00:18:25,520 --> 00:18:26,920 - Oh, my! - [chuckles] 427 00:18:27,120 --> 00:18:29,037 But it's a heart after all. 428 00:18:29,120 --> 00:18:31,637 - And hearts don't have brains. - No. 429 00:18:31,720 --> 00:18:33,717 And a small mistake 430 00:18:33,800 --> 00:18:37,360 can prove fatal for it as well as you. 431 00:18:38,200 --> 00:18:41,277 {\an8}'They made a pocket-sized invention.' 432 00:18:41,360 --> 00:18:43,717 Spandan is a pocket-sized ECG device 433 00:18:43,800 --> 00:18:46,120 that can be used by anyone and anywhere. 434 00:18:47,120 --> 00:18:49,280 All of us will give you a consolidated offer. 435 00:18:49,680 --> 00:18:51,440 - This happens very rarely. - Correct. 436 00:18:51,560 --> 00:18:53,237 'The product was so fantastic' 437 00:18:53,320 --> 00:18:57,040 'that the Sharks made an All Shark deal to them.' 438 00:18:57,160 --> 00:18:58,317 Whoa! 439 00:18:58,400 --> 00:18:59,840 After we came on Shark Tank, 440 00:18:59,960 --> 00:19:02,160 {\an8}within 20 minutes, we were out of stock. 441 00:19:03,800 --> 00:19:06,480 When I saw Spandan on Shark Tank India, 442 00:19:06,564 --> 00:19:08,757 I felt that with the help of this device, 443 00:19:08,840 --> 00:19:12,160 I could go to faraway villages within Uttarakhand itself, 444 00:19:12,280 --> 00:19:14,840 and help people by conducting their ECGs. 445 00:19:15,880 --> 00:19:17,997 The percentage of heart attacks in India 446 00:19:18,080 --> 00:19:21,517 will go down from 40% to 38 or 37%. 447 00:19:21,600 --> 00:19:25,360 Spandan will be one of the biggest reasons to bring that change. 448 00:19:26,720 --> 00:19:29,800 {\an8}We are in Sonprayag now, which is at the Kedarnath base camp. 449 00:19:30,160 --> 00:19:32,877 In association with Emcure and Spandan Foundation, 450 00:19:32,960 --> 00:19:34,680 we are holding an ECG camp. 451 00:19:36,600 --> 00:19:40,040 {\an8}If you don't get food on this land, it is alright. 452 00:19:40,160 --> 00:19:43,840 {\an8}But if your body isn't healthy, then liberation won't be any help. 453 00:19:44,760 --> 00:19:46,440 272, a common number. 454 00:19:47,080 --> 00:19:50,237 But to us, this number denotes the number of lives we have saved 455 00:19:50,320 --> 00:19:51,960 ever since we came on Shark Tank. 456 00:19:53,240 --> 00:19:55,957 Every time I ask him for an update, 457 00:19:56,040 --> 00:19:58,757 he updates me on the number of lives he saved. 458 00:19:58,840 --> 00:20:01,597 He's one of those people… He's a gem. 459 00:20:01,680 --> 00:20:04,117 He's so busy trying to change the world. 460 00:20:04,200 --> 00:20:05,837 I feel so proud. 461 00:20:05,920 --> 00:20:09,520 That is my number one investment in Shark Tank season 1, 462 00:20:09,720 --> 00:20:11,797 in terms of the impact it is creating, for sure. 463 00:20:11,880 --> 00:20:14,997 {\an8}'Spandan mobile ECG machine. It is very handy.' 464 00:20:15,080 --> 00:20:16,917 {\an8}'This is an amazing innovation.' 465 00:20:17,000 --> 00:20:20,160 {\an8}'We can save many lives using this.' 466 00:20:21,120 --> 00:20:23,357 It started with an Indian problem and was an Indian solution. 467 00:20:23,440 --> 00:20:26,757 But we are now a global solution and saving lives globally. 468 00:20:26,840 --> 00:20:28,680 [upbeat music playing] 469 00:20:28,800 --> 00:20:31,000 We exported to 11 countries. 470 00:20:32,560 --> 00:20:34,357 {\an8}I'm a cardiologist in Turkey. 471 00:20:34,440 --> 00:20:37,997 This is the device and this is my PC's mouse. 472 00:20:38,080 --> 00:20:39,640 It can be used very easily. 473 00:20:40,920 --> 00:20:44,237 {\an8}Earlier, we had the capacity to manufacture 500 units a month. 474 00:20:44,320 --> 00:20:46,440 {\an8}We are producing more than 5000 units today. 475 00:20:47,440 --> 00:20:50,000 {\an8}Our team has almost tripled. 476 00:20:51,600 --> 00:20:53,200 If I talk about sales, 477 00:20:53,320 --> 00:20:56,917 say for example we did Rs. 1 lakh revenue pre-Shark Tank. 478 00:20:57,000 --> 00:20:59,917 {\an8}After Shark Tank, you can say, we went 30x. 479 00:21:00,000 --> 00:21:01,400 {\an8}Sales shot up to Rs. 30 lakhs. 480 00:21:02,560 --> 00:21:04,800 {\an8}People from 20 to 25 countries reached out. 481 00:21:05,560 --> 00:21:07,960 We also came up with a European partnership. 482 00:21:08,400 --> 00:21:10,197 The journey has just begun. 483 00:21:10,280 --> 00:21:11,797 There is a lot to do. 484 00:21:11,880 --> 00:21:13,720 Go, Spandan! [in unison] 485 00:21:14,880 --> 00:21:17,680 [laughs] 486 00:21:20,120 --> 00:21:21,320 What is it? 487 00:21:22,080 --> 00:21:23,120 What is the brand? 488 00:21:23,240 --> 00:21:24,880 - Oh my God! - Eyenic! 489 00:21:25,000 --> 00:21:26,757 - Oh my God! - This will be fun. Send them in. 490 00:21:26,840 --> 00:21:28,080 - Even we will… - Whoa! 491 00:21:28,200 --> 00:21:29,837 - We have competition. - This will be fun. 492 00:21:29,920 --> 00:21:31,760 We will have lenses too. 493 00:21:32,560 --> 00:21:34,957 - This is better than Lenskart. - Invest in it. 494 00:21:35,040 --> 00:21:36,757 - Let's see how good I'll look. - Check this out. 495 00:21:36,840 --> 00:21:38,917 - I want sunglasses. - Put it on. 496 00:21:39,000 --> 00:21:40,640 This one, bro? 497 00:21:41,160 --> 00:21:42,160 How am I looking? 498 00:21:44,760 --> 00:21:45,800 Guys, come. 499 00:21:48,400 --> 00:21:51,680 [theme music playing] 500 00:22:14,320 --> 00:22:17,160 [theme music fading] 501 00:22:18,840 --> 00:22:21,720 Hey, we've reached the set of Shark Tank. 502 00:22:21,840 --> 00:22:23,560 But I don't see the Sharks. 503 00:22:23,680 --> 00:22:25,680 [whimsical music playing] 504 00:22:25,880 --> 00:22:28,240 Hey, wear your glasses! 505 00:22:28,360 --> 00:22:29,880 [Anupam laughs] 506 00:22:30,200 --> 00:22:31,746 The sharks are sitting right here. 507 00:22:32,200 --> 00:22:34,077 - Hi. - Glasses are a blessing 508 00:22:34,160 --> 00:22:36,720 for those in need of vision correction 509 00:22:36,920 --> 00:22:39,560 and those who start their day by wearing a pair of glasses. 510 00:22:39,680 --> 00:22:40,920 This sounds familiar. 511 00:22:41,040 --> 00:22:42,280 [chuckles] 512 00:22:43,360 --> 00:22:47,280 In India, 35% of the population needs vision correction. 513 00:22:48,360 --> 00:22:51,197 {\an8}As per the weather, people wear different glasses. 514 00:22:51,280 --> 00:22:53,080 {\an8}Kids get their own pair too. 515 00:22:53,200 --> 00:22:55,997 And those who wear turbans have a different set of requirements. 516 00:22:56,080 --> 00:22:58,880 And all of this should come in a pocket-friendly price. 517 00:22:59,680 --> 00:23:03,720 Today, India has over 40,000 optical stores. 518 00:23:04,720 --> 00:23:08,837 {\an8}Every person with glasses has a favourite optician 519 00:23:08,920 --> 00:23:11,517 from whom he gets his glasses. 520 00:23:11,600 --> 00:23:14,157 - Yes. - But it's the online era. 521 00:23:14,240 --> 00:23:16,037 And we have started to forget them. 522 00:23:16,120 --> 00:23:19,680 Today, we are well connected with optical stores 523 00:23:19,800 --> 00:23:22,400 owing to our family business. 524 00:23:23,360 --> 00:23:27,037 When everyone is growing, why should we leave them behind? 525 00:23:27,120 --> 00:23:29,917 Sharks, Eyenic is an eyewear brand 526 00:23:30,000 --> 00:23:31,397 that has been curated 527 00:23:31,480 --> 00:23:33,477 keeping the needs and problems of Indians in mind. 528 00:23:33,560 --> 00:23:35,200 Eyenic is not some useless brand. 529 00:23:35,320 --> 00:23:37,037 It is a brand made for Indians 530 00:23:37,120 --> 00:23:39,440 which is affordable, durable and good-looking. 531 00:23:39,560 --> 00:23:42,280 Because what looks good, sells! 532 00:23:43,920 --> 00:23:47,040 But why is it so dark in here? 533 00:23:47,160 --> 00:23:50,760 Take off the sunglasses attachment from your glasses, brother! 534 00:23:51,080 --> 00:23:52,280 It isn't sunny here. 535 00:23:54,320 --> 00:23:57,720 {\an8}Sharks, we started Eyenic in 2017-18. 536 00:23:58,800 --> 00:24:02,517 {\an8}We are present in over 300 retail stores across five states. 537 00:24:02,600 --> 00:24:05,277 {\an8}We have sold over 1.25 lakh glasses. 538 00:24:05,360 --> 00:24:07,837 Users can buy our glasses on our newly-launched 539 00:24:07,920 --> 00:24:10,440 online platform, eyenic.in. 540 00:24:10,560 --> 00:24:13,517 Just as Maggi is the most demanded noodles brand, 541 00:24:13,600 --> 00:24:16,440 we want to be the most-demanded brand in eyewear. 542 00:24:17,680 --> 00:24:20,400 I am Piyuesh Kalra and I am Sunil Chhabra. 543 00:24:20,520 --> 00:24:23,000 [Sharks laugh] 544 00:24:23,440 --> 00:24:25,357 Is your name really Peyush? 545 00:24:25,440 --> 00:24:28,440 - Peyush with a Pi, right? - It's Piyuesh. 546 00:24:29,160 --> 00:24:32,040 {\an8}- Oh! - We're the co-founders of Eyenic eyewear. 547 00:24:32,160 --> 00:24:34,437 - You're not brothers? - We're cousins. 548 00:24:34,520 --> 00:24:36,517 Cousins. So, family business. Okay. Understood. 549 00:24:36,600 --> 00:24:39,037 Sharks, our ask is Rs. 75 lakhs 550 00:24:39,120 --> 00:24:42,157 {\an8}in exchange for 6% equity in our company. 551 00:24:42,240 --> 00:24:43,440 {\an8}- Wow! - Wow! 552 00:24:46,040 --> 00:24:47,517 Welcome to Shark Tank. 553 00:24:47,600 --> 00:24:48,437 - Thank you. - Thank you. 554 00:24:48,520 --> 00:24:51,000 Tell us about your journey. 555 00:24:51,120 --> 00:24:52,397 What have you studied? 556 00:24:52,480 --> 00:24:54,677 How did the idea of launching this brand occur to you? 557 00:24:54,760 --> 00:24:57,120 I did engineering from Punjab University, Patiala. 558 00:24:57,760 --> 00:25:00,317 I joined Eicher Volvo, a truck company, 559 00:25:00,400 --> 00:25:02,357 - in their R&D department. - Nice. 560 00:25:02,440 --> 00:25:05,597 I worked in product design and development for three years. 561 00:25:05,680 --> 00:25:10,400 Our family has been in the optical retail business for almost 50 years. 562 00:25:11,240 --> 00:25:14,720 - Overall, our family owns over 50 shops. - Wow! 563 00:25:14,840 --> 00:25:16,157 They all have different names. 564 00:25:16,240 --> 00:25:18,437 I've been involved in the business 565 00:25:18,520 --> 00:25:21,640 since childhood helping my dad in my free time. 566 00:25:22,560 --> 00:25:24,917 {\an8}I quit my job after three years and came back. 567 00:25:25,000 --> 00:25:30,040 {\an8}I decided to work in the industry that I had immense knowledge of. 568 00:25:30,280 --> 00:25:33,520 {\an8}I spent another two years here in research and development. 569 00:25:34,040 --> 00:25:35,157 I travelled to Italy. 570 00:25:35,240 --> 00:25:38,517 I met famous designers and attended exhibitions. 571 00:25:38,600 --> 00:25:39,677 I travelled to China. 572 00:25:39,760 --> 00:25:42,677 I met up with all the Indian manufacturers. 573 00:25:42,760 --> 00:25:45,400 We incepted this business in 2017. 574 00:25:45,520 --> 00:25:48,320 We began with the pilot stage and making prototypes. 575 00:25:48,440 --> 00:25:50,560 We started sales in 2018. 576 00:25:52,000 --> 00:25:55,277 We don't wish to fight with the existing optical industry. 577 00:25:55,360 --> 00:25:57,240 We want to make them our strength. 578 00:25:57,360 --> 00:25:59,117 There's a huge network. 579 00:25:59,200 --> 00:26:01,200 80% of them are unorganised though. 580 00:26:01,320 --> 00:26:04,517 We want to give them hope apart from a platform and products 581 00:26:04,600 --> 00:26:08,160 that can help them become the king of the industry. 582 00:26:09,000 --> 00:26:10,520 - Great. - Nice. 583 00:26:11,720 --> 00:26:14,960 Who is the king in the industry now? 584 00:26:15,080 --> 00:26:17,120 Sir, we're the emerging kings. 585 00:26:17,240 --> 00:26:19,280 [Sharks laugh] 586 00:26:20,440 --> 00:26:23,117 The market is huge and it has a lot of scope. 587 00:26:23,200 --> 00:26:24,397 There is no king. 588 00:26:24,480 --> 00:26:27,400 Lenskart is also a retailer and it can also buy products. 589 00:26:27,720 --> 00:26:28,877 - Technically. - Yes. 590 00:26:28,960 --> 00:26:31,280 Opticians affix their own lenses in the frames. 591 00:26:31,400 --> 00:26:33,200 You are not into lenses. 592 00:26:33,320 --> 00:26:34,917 We have started lenses too. 593 00:26:35,000 --> 00:26:38,117 - We have a few SKUs, but we did make a start. - Got it. 594 00:26:38,200 --> 00:26:41,160 But going up against Lenskart is a big deal. 595 00:26:42,760 --> 00:26:44,717 Ma'am, first of all, it's such a big industry. 596 00:26:44,800 --> 00:26:48,040 For one big player to exist is not good for consumers. 597 00:26:49,200 --> 00:26:50,557 [laughs] 598 00:26:50,640 --> 00:26:52,720 - Well said. - [Aman laughs] 599 00:26:54,880 --> 00:26:56,197 Just to clear the confusion. 600 00:26:56,280 --> 00:26:59,477 - Your model is not to open retail stores. - Right, sir. 601 00:26:59,560 --> 00:27:01,280 Your business deals into frames. 602 00:27:01,400 --> 00:27:03,880 Sir, 85% of our sales come from frames. 603 00:27:04,000 --> 00:27:04,877 {\an8}Okay, got it. 604 00:27:04,960 --> 00:27:06,317 {\an8}15% comes from lenses. 605 00:27:06,400 --> 00:27:08,757 {\an8}As far as I know, there's more margin in the lens. 606 00:27:08,840 --> 00:27:12,200 {\an8}- We'll come to that later. Give us a demo. - Yes, sir. 607 00:27:14,080 --> 00:27:15,917 I had worn this when you came. 608 00:27:16,000 --> 00:27:17,837 Sir, this is a night vision polarised glass. 609 00:27:17,920 --> 00:27:19,757 - Looks good. - Especially for driving cars. 610 00:27:19,840 --> 00:27:21,880 This is with the sunglasses attachment. 611 00:27:23,360 --> 00:27:24,397 These are blue light filter lenses. 612 00:27:24,480 --> 00:27:26,753 - To protect from blue rays and UV. - This is good. 613 00:27:27,360 --> 00:27:29,280 [intense music playing] 614 00:27:29,400 --> 00:27:31,840 - These are the lenses we mentioned. - Nice! 615 00:27:33,600 --> 00:27:35,717 - They're made in India. - This is in-house. - Got it. 616 00:27:35,800 --> 00:27:37,557 Peyush, will you try on glasses by Eyenic? 617 00:27:37,640 --> 00:27:39,997 Yes, why not? I can wear any brand. 618 00:27:40,080 --> 00:27:41,157 But you don't let us! 619 00:27:41,240 --> 00:27:43,320 - Show me that. - [Sharks laugh] 620 00:27:45,560 --> 00:27:48,397 - That's my love for you. - Oh, my! 621 00:27:48,480 --> 00:27:50,437 Why the sudden love for us today? 622 00:27:50,520 --> 00:27:52,080 [laughs] 623 00:27:56,028 --> 00:27:57,665 Tell us about your supply chain. 624 00:27:57,748 --> 00:27:59,785 Where are your products manufactured 625 00:27:59,868 --> 00:28:01,825 and what is different about your brand? 626 00:28:01,908 --> 00:28:05,108 {\an8}Sir, 60% of our production is done in China. 627 00:28:05,748 --> 00:28:07,065 {\an8}30% is done in India. 628 00:28:07,148 --> 00:28:10,385 {\an8}- And 10% of our SKUs are made in Turkey. - Great. 629 00:28:10,468 --> 00:28:12,505 {\an8}Our key differentiators are 630 00:28:12,588 --> 00:28:14,348 {\an8}that we're well connected 631 00:28:14,588 --> 00:28:18,065 to the optical industry comprising over 40,000 shops in India. 632 00:28:18,148 --> 00:28:20,308 And we understand the end consumer. 633 00:28:21,108 --> 00:28:26,105 {\an8}For instance, we have over 50 SKUs for people who wear turbans. 634 00:28:26,188 --> 00:28:28,148 {\an8}How many glasses do you sell in a month? 635 00:28:28,388 --> 00:28:30,508 {\an8}Sir, we currently sell 5000 to 6000 glasses. 636 00:28:30,628 --> 00:28:33,468 What is the number of turban wearers? 637 00:28:33,708 --> 00:28:34,748 Around 1000. 638 00:28:35,068 --> 00:28:39,628 - So, 20% of your market is from turban wearers. - Yes. 639 00:28:39,748 --> 00:28:41,112 Could you show me the glasses? 640 00:28:41,228 --> 00:28:43,228 [intense music playing] 641 00:28:44,348 --> 00:28:45,945 - Sir, if you see… - Yes? 642 00:28:46,028 --> 00:28:47,465 We have given bends here. 643 00:28:47,548 --> 00:28:49,465 The angle and the shape are crafted to precision. 644 00:28:49,548 --> 00:28:52,265 It's hard to take glasses off after the turban has been worn. 645 00:28:52,348 --> 00:28:54,668 [intense music playing] 646 00:28:57,148 --> 00:29:00,305 Sir, we have come up with a range in Eyenic called Airman. 647 00:29:00,388 --> 00:29:01,265 Airman. 648 00:29:01,348 --> 00:29:03,185 This one, Airman. 649 00:29:03,268 --> 00:29:04,905 Okay, Airman. Nice. 650 00:29:04,988 --> 00:29:06,345 Our Airman range 651 00:29:06,428 --> 00:29:09,545 {\an8}is priced approximately between Rs. 500 to 1200. 652 00:29:09,628 --> 00:29:12,825 {\an8}Eyenic starts between Rs. 1200 to 2500. 653 00:29:12,908 --> 00:29:14,828 {\an8}The pricing is okay, it's competitive. 654 00:29:16,548 --> 00:29:19,305 We were focusing on the optical scope. 655 00:29:19,388 --> 00:29:22,905 Our intent was for them to compete with online brands. 656 00:29:22,988 --> 00:29:24,665 Why didn't you add it to the same brand? 657 00:29:24,748 --> 00:29:26,265 [intense music playing] 658 00:29:26,348 --> 00:29:28,105 Why didn't you launch it as Airman by Eyenic? 659 00:29:28,188 --> 00:29:31,145 Certain detailing that we use in Eyenic 660 00:29:31,228 --> 00:29:33,668 can't be incorporated into Airmac's budget. 661 00:29:34,708 --> 00:29:36,625 Let's take a pair of Eyenic glasses for instance. 662 00:29:36,708 --> 00:29:38,585 The quality of acetate used in it 663 00:29:38,668 --> 00:29:41,425 is far better than the acetate used to make Airman. 664 00:29:41,508 --> 00:29:45,148 It'll be HD. We've used 100% cellulose plastic. 665 00:29:45,388 --> 00:29:47,908 But we need to dilute it when it comes to Airman. 666 00:29:48,028 --> 00:29:49,508 [intense music playing] 667 00:29:49,628 --> 00:29:51,985 How much does a pair of Lenskart's similar glasses cost? 668 00:29:52,068 --> 00:29:55,065 Sir, we compete directly with some of Lenskart's brands. 669 00:29:55,148 --> 00:29:59,068 Their Vincent Chase is in the same price category as Airman. 670 00:29:59,228 --> 00:30:01,028 Then come John Jacobs. 671 00:30:01,148 --> 00:30:05,388 Eyenic falls between the price range of Vincent Chase and John Jacobs. 672 00:30:05,548 --> 00:30:06,745 Got it. 673 00:30:06,828 --> 00:30:08,665 The only difference, for your knowledge, 674 00:30:08,748 --> 00:30:11,948 is that all our products are made of 100% cellulose acetate. 675 00:30:12,068 --> 00:30:13,025 Nice. 676 00:30:13,108 --> 00:30:14,927 For 10 years, we have never sold plastic. 677 00:30:16,668 --> 00:30:20,148 Could you tell us your revenue and margins? 678 00:30:20,748 --> 00:30:22,425 Sir, from 2018 until now, 679 00:30:22,508 --> 00:30:24,785 {\an8}we've generated a revenue of over Rs. 4 crores. 680 00:30:24,868 --> 00:30:25,625 {\an8}Last year? 681 00:30:25,708 --> 00:30:27,988 {\an8}Our net sales for last year have been Rs. 1 crore. 682 00:30:28,108 --> 00:30:29,188 {\an8}[chuckles] 683 00:30:30,428 --> 00:30:34,748 {\an8}This year, we've made around Rs. 75 lakhs already. 684 00:30:34,868 --> 00:30:36,865 {\an8}- And last month? - Around Rs. 15 lakhs. 685 00:30:36,948 --> 00:30:39,308 {\an8}- What's your gross margin? - It's 45%. 686 00:30:40,588 --> 00:30:41,465 {\an8}Are you making profits? 687 00:30:41,548 --> 00:30:42,545 {\an8}Sir, we're profitable. 688 00:30:42,628 --> 00:30:43,785 - Okay. - How much is the profit? 689 00:30:43,868 --> 00:30:47,068 We follow the bootstrap model and we're reinvesting all the money. 690 00:30:47,908 --> 00:30:50,705 Our net margin is approximately 21%. 691 00:30:50,788 --> 00:30:53,708 {\an8}- You're taking home Rs. 3 lakhs every month. - Yes. 692 00:30:54,148 --> 00:30:55,108 Okay. 693 00:30:55,388 --> 00:30:56,585 From one retailer… 694 00:30:56,668 --> 00:30:58,905 As far as I've understood, 300 stores and five states. 695 00:30:58,988 --> 00:31:00,145 Your revenue is Rs. 15 lakhs. 696 00:31:00,228 --> 00:31:03,468 Your revenue per store is low. It's hardly Rs. 5000 per month. 697 00:31:04,508 --> 00:31:07,348 So, I don't understand where the challenge is. 698 00:31:08,508 --> 00:31:11,868 Sir, one of the challenges is that they stock other brands. 699 00:31:11,988 --> 00:31:15,068 We want to try and make an entry into more products. 700 00:31:15,188 --> 00:31:17,825 Are there months when you don't get orders from shops? 701 00:31:17,908 --> 00:31:20,828 We visit the shops. Our cycle is every three months. 702 00:31:22,188 --> 00:31:24,305 Last month's sales are Rs. 15 lakhs. 703 00:31:24,388 --> 00:31:28,025 It's not like we get bulk orders from all the 300 shops. 704 00:31:28,108 --> 00:31:31,825 This is mostly the orders we received from 30 to 50 outlets. 705 00:31:31,908 --> 00:31:34,681 - What about the remaining 250? - Sir, we make regular visits. 706 00:31:35,228 --> 00:31:36,868 If we visit an outlet today, 707 00:31:36,988 --> 00:31:39,145 {\an8}we'll make our next visit after three months. 708 00:31:39,228 --> 00:31:41,065 {\an8}How much worth of goods do you sell in one visit? 709 00:31:41,148 --> 00:31:43,948 {\an8}On average, Rs. 50,000 or 1 lakh. 710 00:31:44,068 --> 00:31:46,625 {\an8}So, you sold to 30 shops this month and your sales are Rs. 15 lakhs. 711 00:31:46,708 --> 00:31:47,585 As an example. 712 00:31:47,668 --> 00:31:49,585 Not an example, I'm talking real numbers here. 713 00:31:49,668 --> 00:31:51,708 [intense music playing] 714 00:31:51,908 --> 00:31:54,588 Out of 300 shops, only 10 order from you every month. 715 00:31:54,748 --> 00:31:56,385 Don't you sense something wrong here? 716 00:31:57,388 --> 00:31:59,865 Sir, nothing is wrong. Our team is quite small. 717 00:31:59,948 --> 00:32:01,665 You can hire more people provided there's a demand. 718 00:32:01,748 --> 00:32:03,505 The sales cost is too low. 719 00:32:03,588 --> 00:32:05,825 Definitely. We plan on… 720 00:32:05,908 --> 00:32:06,988 So, there's no demand. 721 00:32:07,108 --> 00:32:08,385 Sir, the demand is there. We… 722 00:32:08,468 --> 00:32:10,308 Then why don't the numbers justify it? 723 00:32:11,228 --> 00:32:14,505 We have limited capital to make our inventory. 724 00:32:14,588 --> 00:32:17,145 We have to manage with the production we have. 725 00:32:17,228 --> 00:32:19,585 Look. Your old offline work, 726 00:32:19,668 --> 00:32:22,148 in which you physically go to stores and sell products, 727 00:32:22,268 --> 00:32:24,585 versus the new trend in which you sell direct to consumers, 728 00:32:24,668 --> 00:32:28,068 the element I find missing in it is a co-founder. 729 00:32:28,228 --> 00:32:29,545 [intense music playing] 730 00:32:29,628 --> 00:32:32,705 I think you need a co-founder who is a technology king. 731 00:32:32,788 --> 00:32:37,628 Someone who can understand the practicalities of the business. 732 00:32:39,148 --> 00:32:42,465 How to convert offline to online and vice versa, right? 733 00:32:42,548 --> 00:32:44,228 That's the missing link. 734 00:32:45,828 --> 00:32:47,465 You're working on a small scale for two years. 735 00:32:47,548 --> 00:32:49,465 The revenue has only been Rs. 15 lakhs. 736 00:32:49,548 --> 00:32:52,548 You fail to pivot on the right opportunities to capture the market. 737 00:32:53,268 --> 00:32:55,132 I don't wish to take a risk at this point. 738 00:32:56,388 --> 00:32:58,225 But I wish you all the best, guys. I'm out for now. 739 00:32:58,308 --> 00:32:59,988 [intense music playing] 740 00:33:01,428 --> 00:33:04,988 As an investor, I won't be able to help you much. 741 00:33:05,108 --> 00:33:07,428 This is not my area of expertise. 742 00:33:07,628 --> 00:33:09,308 And for that reason, I'm out. 743 00:33:10,828 --> 00:33:13,148 Piyuesh and Sunil, I am out. 744 00:33:13,948 --> 00:33:15,505 Let me tell you your positives. 745 00:33:15,588 --> 00:33:18,065 What I liked about you 746 00:33:18,148 --> 00:33:20,785 is that you're the kind of entrepreneurs who're not afraid. 747 00:33:21,188 --> 00:33:23,588 These are the kind of people every industry needs. 748 00:33:24,428 --> 00:33:27,188 Your good quality is you understand the consumer. 749 00:33:27,428 --> 00:33:30,748 But I am out because I see just one problem. 750 00:33:30,868 --> 00:33:32,687 You haven't been able to create any pull. 751 00:33:33,868 --> 00:33:37,348 Until now, you're going to retailers and pushing the product. 752 00:33:38,348 --> 00:33:40,705 Make some investment towards ensuring 753 00:33:40,788 --> 00:33:44,385 that the customer comes back and asks only for Eyenic. 754 00:33:44,468 --> 00:33:46,385 [intense music playing] 755 00:33:46,468 --> 00:33:48,665 And build the brand at the earliest. 756 00:33:48,748 --> 00:33:51,065 - Sir, I'd like to say something. - Sure. 757 00:33:51,148 --> 00:33:54,028 Our product expertise is unparalleled. 758 00:33:54,148 --> 00:33:55,105 We need help. 759 00:33:55,188 --> 00:33:58,708 - If you come on board, we could rule the… - Help with what? 760 00:33:58,908 --> 00:33:59,908 What help do you need? 761 00:34:02,628 --> 00:34:06,345 Sir, we need help with brand building and capital. 762 00:34:06,428 --> 00:34:08,865 You've built successful brands. We need that help from you. 763 00:34:08,948 --> 00:34:10,945 I think your business model is flawed. 764 00:34:11,028 --> 00:34:12,868 [intense music playing] 765 00:34:13,148 --> 00:34:14,745 What you're doing right now is 766 00:34:14,828 --> 00:34:17,745 going to retailers with your goods and taking orders. 767 00:34:17,828 --> 00:34:19,692 This is an obsolete way of doing business. 768 00:34:20,788 --> 00:34:22,185 No one has ever scaled by doing that. 769 00:34:22,268 --> 00:34:23,265 What's your problem here? 770 00:34:23,348 --> 00:34:24,945 Even if you do sell the frame, 771 00:34:25,028 --> 00:34:27,505 when the consumer visits the shop, he won't buy your lenses. 772 00:34:27,588 --> 00:34:29,134 You're not physically at the shop. 773 00:34:30,348 --> 00:34:35,268 The optician will sell a lens in which he gets the highest margin. 774 00:34:36,108 --> 00:34:37,105 It stands true even today. 775 00:34:37,188 --> 00:34:39,265 I'm sure it is and people are doing it. 776 00:34:39,348 --> 00:34:41,105 But in that, scaling is tough, 777 00:34:41,188 --> 00:34:43,985 as are cross-selling and upselling. 778 00:34:44,068 --> 00:34:45,948 Customer transparency… 779 00:34:46,068 --> 00:34:48,108 Understanding the customer journey is tough. 780 00:34:49,308 --> 00:34:52,628 This existing business of B2B, selling through opticians, 781 00:34:52,748 --> 00:34:54,548 in my opinion, should cease. 782 00:34:54,860 --> 00:34:56,500 [intense music playing] 783 00:34:56,758 --> 00:34:58,675 Do you sell to retailers on credit? 784 00:34:58,758 --> 00:35:00,515 - Sir, that's right. - What's the period? 785 00:35:00,598 --> 00:35:01,597 Around 60 days. 786 00:35:01,681 --> 00:35:02,681 {\an8}Firstly, 787 00:35:02,798 --> 00:35:05,075 {\an8}let me clarify 788 00:35:05,158 --> 00:35:07,558 {\an8}that I do invest in eyewear companies. 789 00:35:07,718 --> 00:35:10,918 As the co-founder of Lenskart, we invest in eyewear companies. 790 00:35:12,118 --> 00:35:14,235 I believe that very soon 791 00:35:14,318 --> 00:35:17,158 India will need D2C brands more 792 00:35:17,318 --> 00:35:20,918 because eyewear is a category that hasn't experienced much evolution. 793 00:35:22,198 --> 00:35:23,955 I want to be out of your business 794 00:35:24,038 --> 00:35:27,395 because I don't see a fundamental differentiation 795 00:35:27,478 --> 00:35:29,315 in terms of quality and the supply chain. 796 00:35:29,398 --> 00:35:31,275 [dramatic music] 797 00:35:31,358 --> 00:35:33,878 Piyuesh, your design sense is good. 798 00:35:34,238 --> 00:35:36,555 You have done innovations for sure. 799 00:35:36,638 --> 00:35:39,395 Your product design sense is nice too. I think you must 800 00:35:39,478 --> 00:35:41,155 bring some differentiation in the quality. 801 00:35:41,238 --> 00:35:43,193 I think there's a gap that you need to fill. 802 00:35:44,798 --> 00:35:46,795 Also, as you're working on the credit system, 803 00:35:46,878 --> 00:35:50,158 you need to be cautious because it's the biggest challenge 804 00:35:50,318 --> 00:35:52,958 in the eyewear industry. Particularly, in B2B services. 805 00:35:54,518 --> 00:35:57,395 You give them 60 days but there's no commitment, right? 806 00:35:57,478 --> 00:35:59,555 People must be paying you in 90 days or 120 days. 807 00:35:59,638 --> 00:36:01,478 So in an emergency like Covid, 808 00:36:01,598 --> 00:36:04,875 your core business could be at risk. 809 00:36:04,958 --> 00:36:06,915 This is my feedback for you. I want to be out today 810 00:36:06,998 --> 00:36:09,038 but you're doing great. Keep going. 811 00:36:09,158 --> 00:36:11,998 If you show some differentiation, I'd surely invest. 812 00:36:12,158 --> 00:36:13,838 [suspenseful music] 813 00:36:14,278 --> 00:36:16,835 Would you like to try another business model? 814 00:36:16,918 --> 00:36:20,158 Either the B2B marketplace or only a D2C brand. 815 00:36:21,478 --> 00:36:23,315 We would like to try both models. 816 00:36:23,398 --> 00:36:26,078 Boss, you must choose or else, it won't be of any good. 817 00:36:27,718 --> 00:36:31,638 Sir, we want to choose B2C while using the optical network. 818 00:36:31,798 --> 00:36:34,195 If you want to foray into the B2B marketplace, 819 00:36:34,278 --> 00:36:36,118 I could make an offer. 820 00:36:36,238 --> 00:36:38,238 [dramatic music] 821 00:36:38,518 --> 00:36:39,955 But you'll have to move your focus away 822 00:36:40,038 --> 00:36:41,998 from your current business. Do you agree? 823 00:36:42,158 --> 00:36:44,075 Sir, we're definitely interested in B2B. 824 00:36:44,158 --> 00:36:45,431 But you want to do this too. 825 00:36:45,518 --> 00:36:46,518 Yes! 826 00:36:49,038 --> 00:36:50,998 No. That won't work for me. 827 00:36:52,318 --> 00:36:56,318 I'm out but I appreciate your courage. I wish you all the best. 828 00:36:58,038 --> 00:36:59,635 - Thank you, guys. - All the best, guys! 829 00:36:59,718 --> 00:37:01,558 - Thank you, Sharks! - Thank you! 830 00:37:04,358 --> 00:37:05,955 If your business idea has potential 831 00:37:06,038 --> 00:37:08,838 you have a last chance to be in Shark Tank. 832 00:37:08,958 --> 00:37:10,718 Quickly download or update Sony Liv app 833 00:37:10,838 --> 00:37:13,429 and be a part of 'Happilo presents, gateway to Shark Tank. 834 00:37:13,558 --> 00:37:15,358 I'm telling you, send your entry today. 835 00:37:16,438 --> 00:37:18,238 [ethereal music] 836 00:37:46,020 --> 00:37:48,500 Before we begin, I have a quick question for you. 837 00:37:49,020 --> 00:37:50,457 Do you know her? 838 00:37:50,540 --> 00:37:52,620 [ethereal music] 839 00:37:53,940 --> 00:37:56,017 No! I don't know her. 840 00:37:56,100 --> 00:37:57,860 But you must be knowing her. 841 00:37:58,620 --> 00:38:00,777 No. Maybe I saw her somewhere. 842 00:38:00,860 --> 00:38:02,257 - Who is she? - She looks like a familiar face. 843 00:38:02,340 --> 00:38:03,820 I think it's someone we know. 844 00:38:03,940 --> 00:38:04,980 Yes. We feel the same. 845 00:38:05,100 --> 00:38:07,660 And you must be aware of her too. 846 00:38:10,660 --> 00:38:11,940 What is this game? 847 00:38:12,140 --> 00:38:13,740 All of them are superwomen. 848 00:38:13,900 --> 00:38:15,617 The world is aware of the stories of some of them 849 00:38:15,700 --> 00:38:17,377 and you'll know about the rest of the stories soon. 850 00:38:17,460 --> 00:38:19,860 All these females are independent. 851 00:38:20,020 --> 00:38:22,100 They fulfil all their roles amazingly well. 852 00:38:22,300 --> 00:38:24,260 Some of them were our artisans 853 00:38:24,420 --> 00:38:25,940 and she's my mom. 854 00:38:27,820 --> 00:38:29,137 Sharks, as a woman 855 00:38:29,220 --> 00:38:32,060 we tend to underestimate our worth. 856 00:38:33,660 --> 00:38:36,017 What does a woman's life look like? 857 00:38:36,100 --> 00:38:38,860 After their studies, their family asks them to get married 858 00:38:39,020 --> 00:38:41,700 and be good wives and good mothers. 859 00:38:42,380 --> 00:38:44,740 But we are more than that. 860 00:38:44,900 --> 00:38:46,780 My mom is exceptionally talented. 861 00:38:46,900 --> 00:38:49,980 But she failed to break the traditional cycle of thoughts. 862 00:38:50,220 --> 00:38:53,740 We experienced a tragedy that changed our life completely. 863 00:38:54,100 --> 00:38:57,900 Then we decided to do something for female empowerment. 864 00:38:59,300 --> 00:39:01,057 I broke this cycle 865 00:39:01,140 --> 00:39:03,980 by replacing my wedding dress with a business suit. 866 00:39:04,260 --> 00:39:07,417 {\an8}- Greetings, Sharks! I'm Aishwarya and I'm 26 years young. - Greetings! 867 00:39:07,500 --> 00:39:11,980 {\an8}Greetings, I'm Minakshi Jhawar and I'm as young as 51 years. 868 00:39:12,260 --> 00:39:13,500 [laughing] 869 00:39:13,620 --> 00:39:14,497 Wonderful! 870 00:39:14,580 --> 00:39:15,897 We are from Kota 871 00:39:15,980 --> 00:39:17,937 and the name of our brand is ekatra. 872 00:39:18,020 --> 00:39:19,460 [ethereal music] 873 00:39:19,700 --> 00:39:22,617 Ekatra is a sustainable artisanal brand 874 00:39:22,700 --> 00:39:25,540 which makes stationery and lifestyle products. 875 00:39:26,820 --> 00:39:31,137 {\an8}Handmade is generally classified in the luxury segment. 876 00:39:31,220 --> 00:39:33,380 {\an8}But we make handmade items affordable. 877 00:39:33,540 --> 00:39:37,297 {\an8}Our brand is available on 19 online marketplaces 878 00:39:37,380 --> 00:39:38,977 {\an8}and we own a website too. 879 00:39:39,060 --> 00:39:41,020 {\an8}Five of them are global spaces. 880 00:39:41,140 --> 00:39:45,340 {\an8}We have collaborated in 20 plus retail stores pan-India. 881 00:39:45,660 --> 00:39:48,380 {\an8}Within just 1.5 years of operations, 882 00:39:48,500 --> 00:39:50,537 {\an8}we worked with Netflix, Fabindia, 883 00:39:50,620 --> 00:39:53,540 Etsy, Salesforce and other such brands. 884 00:39:55,940 --> 00:39:59,340 {\an8}Do you know that 80% of the female population 885 00:39:59,503 --> 00:40:03,617 {\an8}- in India doesn't have a stable source of income? - Alright. 886 00:40:03,700 --> 00:40:07,300 {\an8}That's the reason, all the products of Ekatra are made by females. 887 00:40:07,420 --> 00:40:09,660 Sharks, we need your expertise 888 00:40:09,780 --> 00:40:11,657 to grow our business. 889 00:40:11,740 --> 00:40:14,100 Our ask is Rs. 40 lakhs for 10% equity. 890 00:40:14,420 --> 00:40:15,820 {\an8}[joyful music] 891 00:40:16,220 --> 00:40:19,220 {\an8}Are you ready to create more women bosses? 892 00:40:19,340 --> 00:40:20,620 {\an8}[chuckling] 893 00:40:21,185 --> 00:40:23,065 So, woman boss Aishwarya 894 00:40:23,465 --> 00:40:25,585 and woman super-boss Minakshi, 895 00:40:25,825 --> 00:40:28,865 - we welcome both of you to Shark Tank. - Thank you! 896 00:40:29,065 --> 00:40:31,825 {\an8}You raised an important point 897 00:40:31,945 --> 00:40:36,745 {\an8}that 80% of women don't have a stable income. 898 00:40:37,105 --> 00:40:40,345 We are 50% of the total population. 899 00:40:40,825 --> 00:40:43,665 Then why is our percentage only 20% in the workforce? 900 00:40:44,025 --> 00:40:46,662 You shared an important statistic with us 901 00:40:46,745 --> 00:40:49,225 and I want to thank you for that. 902 00:40:51,065 --> 00:40:55,105 Your brand name is Ekatra. What does it mean? 903 00:40:55,265 --> 00:40:58,465 It's a Sanskrit word which means a collection. 904 00:40:58,705 --> 00:41:00,625 - Okay! - A collection of thoughts... 905 00:41:00,745 --> 00:41:03,782 - Memories, feelings and people. - Our memories, feelings and people. 906 00:41:03,865 --> 00:41:07,425 {\an8}Aishwarya, I want to know how you joined your mom. 907 00:41:07,625 --> 00:41:11,545 Shark, actually, I got this idea when I was in college. 908 00:41:12,345 --> 00:41:14,982 As per my education, I'm an urban planner. 909 00:41:15,065 --> 00:41:17,705 Because of that, I had to work with various communities. 910 00:41:17,865 --> 00:41:19,665 The idea stemmed from there. 911 00:41:19,785 --> 00:41:21,662 As I was working with the communities, 912 00:41:21,745 --> 00:41:24,505 I worked with innumerable females on the ground level. 913 00:41:24,745 --> 00:41:28,425 I observed that they had time and talent but they lacked a platform. 914 00:41:28,865 --> 00:41:31,302 I started this business during my college. 915 00:41:31,385 --> 00:41:33,985 Later on, I participated in the HCI conference. 916 00:41:34,185 --> 00:41:35,905 They spotted me. 917 00:41:36,025 --> 00:41:38,945 {\an8}And they immediately ordered 1,000 journals. 918 00:41:39,145 --> 00:41:42,105 {\an8}We completed that order by bringing two more people on board. 919 00:41:42,225 --> 00:41:43,542 {\an8}We completed that order successfully. 920 00:41:43,625 --> 00:41:47,422 {\an8}In late 2020, Fabindia spotted us. 921 00:41:47,505 --> 00:41:48,302 Wow! 922 00:41:48,385 --> 00:41:49,905 So they gave us an order 923 00:41:50,025 --> 00:41:52,702 and we became a full-fledged brand. 924 00:41:52,785 --> 00:41:54,542 I want to say something. Our country 925 00:41:54,625 --> 00:41:57,865 is so focused on STEM subjects and engineers 926 00:41:58,145 --> 00:41:59,625 that very few people 927 00:41:59,825 --> 00:42:02,422 choose to study the field you chose. 928 00:42:02,505 --> 00:42:04,862 - Ms. Minakshi, I must give you the credit. - Definitely! 929 00:42:04,945 --> 00:42:06,382 You encouraged her. 930 00:42:06,465 --> 00:42:10,105 Maths and engineering only solve logical problems. 931 00:42:10,425 --> 00:42:14,465 But the multi-discipline activities lead to miracles. 932 00:42:15,025 --> 00:42:18,465 Our country needs more such fields of study and disciplines. 933 00:42:19,345 --> 00:42:21,065 Can we see some of your products? 934 00:42:21,305 --> 00:42:22,385 Of course! 935 00:42:22,545 --> 00:42:24,945 [dreamy music] 936 00:42:29,105 --> 00:42:29,982 What is it? 937 00:42:30,065 --> 00:42:31,145 It's a tote bag. 938 00:42:31,345 --> 00:42:33,665 [inspirational music] 939 00:42:39,985 --> 00:42:41,542 It has a brown tag. 940 00:42:41,625 --> 00:42:42,945 It's made of bamboo paper. 941 00:42:43,065 --> 00:42:44,745 How much does this pouch cost? 942 00:42:45,225 --> 00:42:46,222 It costs Rs. 150. 943 00:42:46,305 --> 00:42:48,262 - What about the Laptop Sleeve? - It's for Rs. 450. 944 00:42:48,345 --> 00:42:50,905 No. The Laptop Sleeves start from Rs. 700. 945 00:42:51,625 --> 00:42:52,865 Ms. Minakshi and Aishwarya, 946 00:42:53,025 --> 00:42:54,982 {\an8}these products have been in the market for years. 947 00:42:55,065 --> 00:42:57,585 {\an8}So it isn't something new, right? 948 00:42:59,425 --> 00:43:03,585 {\an8}- I'm from Jaipur. Such prints are quite common over there. - Correct! 949 00:43:03,745 --> 00:43:07,265 Such prints are a fad in this belt. 950 00:43:07,385 --> 00:43:09,582 Aishwarya, they want to know 951 00:43:09,665 --> 00:43:12,985 how you are different from the competition. 952 00:43:14,105 --> 00:43:16,262 If you see the designs of our products, 953 00:43:16,345 --> 00:43:19,985 one aspect is that they are handmade. 954 00:43:20,145 --> 00:43:22,422 But the designs are intentional. 955 00:43:22,505 --> 00:43:24,665 For example, the day planners. 956 00:43:24,785 --> 00:43:28,182 They have layers of thought process like gratitude, 957 00:43:28,265 --> 00:43:29,705 self-care and movement 958 00:43:29,825 --> 00:43:32,342 which help in our daily activities. 959 00:43:32,425 --> 00:43:34,782 I think the branding of Ekatra 960 00:43:34,865 --> 00:43:37,422 can be felt even by the tags they use. 961 00:43:37,505 --> 00:43:40,225 - The experience is different. - Yes! 962 00:43:40,345 --> 00:43:42,745 Their communication is extremely good. 963 00:43:42,865 --> 00:43:45,342 - I agree. They have a thought. - So the brand-building factor 964 00:43:45,425 --> 00:43:47,982 {\an8}isn't mentioned by Aishwarya 965 00:43:48,065 --> 00:43:50,793 {\an8}- but this feel-good factor will contribute a lot. - I agree. 966 00:43:51,905 --> 00:43:55,342 You said that you work with women. 967 00:43:55,425 --> 00:43:56,905 So tell us more. 968 00:43:57,025 --> 00:43:59,905 We connected with other people through word-of-mouth. 969 00:44:00,065 --> 00:44:02,345 Currently, we have 23 females with us. 970 00:44:02,465 --> 00:44:05,785 {\an8}And in the next two months, we'll reach 40. 971 00:44:06,865 --> 00:44:09,062 {\an8}But now we are training more people. 972 00:44:09,145 --> 00:44:12,102 Within 500 kilometres, we identified 300 people 973 00:44:12,185 --> 00:44:16,022 who are connected to National Rural Livelihood Mission. 974 00:44:16,105 --> 00:44:18,022 They are being trained in basic stitching and sewing. 975 00:44:18,105 --> 00:44:22,505 So they're helped from both sides as the government is looking for people 976 00:44:22,625 --> 00:44:27,225 to employ them and we want to leverage their time and skills. 977 00:44:28,025 --> 00:44:30,102 Do they work in your factory or... 978 00:44:30,185 --> 00:44:31,622 Sir, it's both ways. 979 00:44:31,705 --> 00:44:34,462 We have a small setup in our factory. We're still building it. 980 00:44:34,545 --> 00:44:37,822 But mostly, these females can't afford domestic help 981 00:44:37,905 --> 00:44:39,862 and they have a family and kids to look after. 982 00:44:39,945 --> 00:44:42,065 So they work when they are free. 983 00:44:43,105 --> 00:44:44,560 Please tell us about your sales. 984 00:44:44,705 --> 00:44:47,222 {\an8}In the initial year, it was just Rs. 90,000 985 00:44:47,305 --> 00:44:48,865 {\an8}as we are a 1.5-year-old company. 986 00:44:49,025 --> 00:44:51,182 {\an8}The following year, we increased it up to ten times. 987 00:44:51,265 --> 00:44:53,862 {\an8}Last financial year, it was Rs. 10.5 lakhs. 988 00:44:53,945 --> 00:44:56,102 {\an8}Last quarter was Rs. 10.4 lakhs 989 00:44:56,185 --> 00:44:58,465 {\an8}and the last month's sale was Rs. 5.4 lakhs. 990 00:44:58,585 --> 00:45:00,942 {\an8}You said that you made sales of Rs. 10.5 lakhs in the last quarter. 991 00:45:01,025 --> 00:45:03,145 {\an8}How much did you sell directly to the consumer? 992 00:45:03,265 --> 00:45:05,862 {\an8}- It must be around 60% to 65%. - 60%! 993 00:45:05,945 --> 00:45:07,102 {\an8}What's the margin in your business? 994 00:45:07,185 --> 00:45:10,022 {\an8}How much are the product cost and profit in Rs. 10 lakhs? 995 00:45:10,105 --> 00:45:13,185 The net profit is 27% and the gross margin is 80%. 996 00:45:13,345 --> 00:45:15,985 {\an8}- Our cost of goods is 20%. - 20%! 997 00:45:16,105 --> 00:45:18,905 {\an8}We spend 16% 998 00:45:19,025 --> 00:45:21,302 {\an8}on overheads, salaries and other such things. 999 00:45:21,385 --> 00:45:24,782 {\an8}And the different kinds of commissions we pay to stores 1000 00:45:24,865 --> 00:45:26,825 {\an8}and online platforms comprise 25%. 1001 00:45:27,105 --> 00:45:28,545 {\an8}We pay tax too. 1002 00:45:28,785 --> 00:45:30,625 {\an8}And 27% is our profit margin. 1003 00:45:30,745 --> 00:45:31,702 {\an8}What about marketing? 1004 00:45:31,785 --> 00:45:35,625 {\an8}Right now our budget is Rs. 10,000 to Rs. 15,000 for Amazon ads. 1005 00:45:35,745 --> 00:45:37,582 {\an8}What's your sale on Amazon? 1006 00:45:37,665 --> 00:45:40,665 {\an8}The last month's sale on Amazon was Rs. 75,000. 1007 00:45:41,065 --> 00:45:43,582 How many reviews of your products are available on Amazon? 1008 00:45:43,665 --> 00:45:46,742 Our most popular product on Amazon is the Roll Up Case. 1009 00:45:46,825 --> 00:45:48,545 It got over 83 reviews. 1010 00:45:48,665 --> 00:45:51,422 It's an Amazon Choice product 1011 00:45:51,505 --> 00:45:53,865 and we are number one in the Roll Up Cases category. 1012 00:45:53,985 --> 00:45:55,302 And what is the rating? 1013 00:45:55,385 --> 00:45:56,505 It's 4.5. 1014 00:45:56,625 --> 00:45:59,102 What is the sales figure on your website? 1015 00:45:59,185 --> 00:46:00,622 We made 20% of the sales last month. 1016 00:46:00,705 --> 00:46:02,662 You must have made a sale of around Rs. 1 lakh. 1017 00:46:02,745 --> 00:46:04,518 - A little more than Rs. 1 lakh. - Okay! 1018 00:46:05,065 --> 00:46:07,022 So, Aishwarya and Minakshi, 1019 00:46:07,105 --> 00:46:09,865 I think your business is too small. 1020 00:46:10,065 --> 00:46:11,022 Correct! 1021 00:46:11,105 --> 00:46:13,782 I'm out for now, but all the best. 1022 00:46:13,865 --> 00:46:15,502 - No problem. Thank you. - Thank you. 1023 00:46:15,585 --> 00:46:17,182 I've made my decision too. 1024 00:46:17,265 --> 00:46:20,545 I don't think you need investors at the moment. 1025 00:46:21,545 --> 00:46:22,705 So, I'm out. 1026 00:46:22,825 --> 00:46:25,462 But I want to give you feedback. 1027 00:46:25,545 --> 00:46:30,982 Out of your product range, pick two or three hero products 1028 00:46:31,065 --> 00:46:34,945 that people will be excited to see. 1029 00:46:35,145 --> 00:46:37,102 - That's my only feedback. - Correct. 1030 00:46:37,185 --> 00:46:38,905 - We'll take… - But great job. 1031 00:46:40,865 --> 00:46:44,742 What's your vision for this company? What do you ultimately want to do? 1032 00:46:44,825 --> 00:46:46,742 And why have you come here? What do you want from us? 1033 00:46:46,825 --> 00:46:50,705 We want to make Ekatra an omnipresent brand. 1034 00:46:50,865 --> 00:46:54,542 Right now, the current focus is to establish ourselves. 1035 00:46:54,625 --> 00:46:57,382 We need to build brand loyalty, costumers and equity 1036 00:46:57,465 --> 00:46:59,105 on online platforms. 1037 00:46:59,385 --> 00:47:01,462 Next would be to delve into exports. 1038 00:47:01,545 --> 00:47:04,305 The market for handmade goods in exports is huge. 1039 00:47:04,425 --> 00:47:08,342 Right now, we don't envision having our own stores. 1040 00:47:08,425 --> 00:47:10,785 But definitely, more store collaborations. 1041 00:47:12,465 --> 00:47:15,702 I'd like to say you're quite smart and honest. 1042 00:47:15,785 --> 00:47:17,545 Your design sensibility is very high. 1043 00:47:17,665 --> 00:47:20,182 But the focus of your business is ambiguous. 1044 00:47:20,265 --> 00:47:23,782 You talk about export one minute and D2C the next. 1045 00:47:23,865 --> 00:47:27,385 The vision you mentioned about being omnipresent 1046 00:47:27,705 --> 00:47:29,502 doesn't seem like a strong vision to me. 1047 00:47:29,585 --> 00:47:31,065 [intense music playing] 1048 00:47:31,425 --> 00:47:34,465 Aishwarya, if I do invest, I'd like to make many changes. 1049 00:47:35,545 --> 00:47:38,545 Playing in so many products is disastrous in my opinion. 1050 00:47:39,745 --> 00:47:41,985 I had invested in a company called DailyObjects. 1051 00:47:42,145 --> 00:47:43,582 - Yes. - They made the same mistake 1052 00:47:43,665 --> 00:47:45,182 of expanding into 25 categories. 1053 00:47:45,265 --> 00:47:46,422 Then they cut down to 15. 1054 00:47:46,505 --> 00:47:49,382 By the time you understand, you'd have lost 1055 00:47:49,465 --> 00:47:51,585 a good 2 to 3 years in this business. 1056 00:47:51,705 --> 00:47:53,251 Because it's a competitive market. 1057 00:47:54,545 --> 00:47:56,262 I mean, you can hear the others. 1058 00:47:56,345 --> 00:47:59,342 First off, everybody is very impressed with you guys. 1059 00:47:59,425 --> 00:48:02,102 I want to support these causes. 1060 00:48:02,185 --> 00:48:04,465 We are trying to put 10 million women back to work. 1061 00:48:04,585 --> 00:48:06,345 But I sit here 1062 00:48:06,545 --> 00:48:09,065 wearing the hat of a Shark as an investor 1063 00:48:09,185 --> 00:48:11,502 to see how I will make money once I invest in it. 1064 00:48:11,585 --> 00:48:15,345 But I don't see your path clearly now. 1065 00:48:16,425 --> 00:48:18,305 I am out. Wish you all the best. 1066 00:48:19,145 --> 00:48:20,705 I'd like to make an offer. 1067 00:48:22,825 --> 00:48:24,945 I see you have a fighting spirit. 1068 00:48:25,065 --> 00:48:29,425 I love investing in businesses 1069 00:48:29,765 --> 00:48:32,038 that solve a larger problem like the one India has. 1070 00:48:32,265 --> 00:48:36,462 Second, I'll be frank. You have really common products. 1071 00:48:36,545 --> 00:48:40,665 But I hope you'll figure something out given your fighting spirit. 1072 00:48:41,025 --> 00:48:42,662 I agree with what Peyush said. 1073 00:48:42,745 --> 00:48:45,742 If a founder does every little thing, he doesn't find the time. 1074 00:48:45,825 --> 00:48:46,985 Focus on only one thing. 1075 00:48:48,105 --> 00:48:49,462 I'm an expert on technology. 1076 00:48:49,545 --> 00:48:53,342 I can help you with your website, repeat behaviour and other things. 1077 00:48:53,425 --> 00:48:55,342 I will make an offer only on the condition 1078 00:48:55,425 --> 00:48:58,225 that you'll first focus on building a D2C brand. 1079 00:48:59,745 --> 00:49:03,665 I'd like to offer you Rs. 20 lakhs for 20% equity. 1080 00:49:05,185 --> 00:49:06,625 And Rs. 20 lakhs in debt. 1081 00:49:07,265 --> 00:49:09,585 {\an8}- Okay. - He stole my offer. 1082 00:49:10,065 --> 00:49:12,022 {\an8}- I've written it down. - Me too. 1083 00:49:12,105 --> 00:49:13,785 Your sales are Rs. 40 lakhs. 1084 00:49:13,945 --> 00:49:15,262 At Rs. 1 crore valuation, 1085 00:49:15,345 --> 00:49:17,382 I'll offer Rs. 20 lakhs for 20% and Rs. 20 lakhs debt. 1086 00:49:17,465 --> 00:49:20,425 - I think it's a good offer. - Peyush, do you want to partner up? 1087 00:49:20,545 --> 00:49:22,145 [intense music playing] 1088 00:49:22,545 --> 00:49:23,825 Okay, I am in. 1089 00:49:24,505 --> 00:49:28,465 Rs. 10 lakhs each for 20% equity and 20% is debt 1090 00:49:30,185 --> 00:49:34,105 {\an8}with the condition that we will build a D2C brand 1091 00:49:34,785 --> 00:49:37,465 for the cause of women's empowerment. 1092 00:49:37,585 --> 00:49:40,425 This is a non-negotiable offer on my end. 1093 00:49:41,905 --> 00:49:43,702 Just to understand this better, 1094 00:49:43,785 --> 00:49:47,902 you told me what you're going to bring to the table. 1095 00:49:47,985 --> 00:49:50,142 Peyush, if you can guide us… 1096 00:49:50,225 --> 00:49:51,465 [Sharks laugh] 1097 00:49:51,625 --> 00:49:53,745 - No, just to understand… - I love it. 1098 00:49:53,865 --> 00:49:55,302 - Peyush… - You've become a Shark! 1099 00:49:55,385 --> 00:49:59,385 No, just to understand the areas where we lack 1100 00:49:59,505 --> 00:50:01,985 and where we could seek your help. 1101 00:50:02,105 --> 00:50:03,862 - It's good that you're asking these questions. - Good question. 1102 00:50:03,945 --> 00:50:05,742 {\an8}It makes me want to do this more. 1103 00:50:05,825 --> 00:50:08,185 {\an8}You have indeed built a good brand. 1104 00:50:08,345 --> 00:50:11,622 {\an8}My goal would largely be 1105 00:50:11,705 --> 00:50:15,985 {\an8}to bring in manufacturing expertise and make a moat. 1106 00:50:16,185 --> 00:50:19,022 {\an8}I fundamentally believe you ought to have a moat. 1107 00:50:19,105 --> 00:50:23,505 {\an8}Your branding is quite interesting as are you. 1108 00:50:23,865 --> 00:50:25,625 {\an8}Tell us your decision. 1109 00:50:26,185 --> 00:50:28,385 {\an8}[intense music playing] 1110 00:50:32,545 --> 00:50:35,385 {\an8}- Yes, let's do the deal. - Well done. 1111 00:50:35,625 --> 00:50:37,762 {\an8}- Well done. - Congratulations, Peyush and Amit. 1112 00:50:38,225 --> 00:50:39,502 {\an8}Thank you so much. 1113 00:50:39,585 --> 00:50:41,902 {\an8}You are an amazing entrepreneur I must say. 1114 00:50:41,985 --> 00:50:43,062 {\an8}Congrats and great pitch. 1115 00:50:43,145 --> 00:50:45,265 {\an8}Thank you so much for trusting us. 1116 00:50:48,025 --> 00:50:50,625 You two came here but are leaving Ekatra (together). 1117 00:50:50,985 --> 00:50:53,182 - Oh! Nice! - Thank you. 1118 00:50:53,265 --> 00:50:54,720 - Thank you so much. - Thank you. 1119 00:50:54,825 --> 00:50:57,505 [euphoric music playing] 1120 00:51:01,225 --> 00:51:02,302 Minakshi and Aishwarya, 1121 00:51:02,385 --> 00:51:06,705 we salute the business idea of 1122 00:51:07,065 --> 00:51:12,145 moving ahead with everyone together. 1123 00:51:12,265 --> 00:51:14,705 What turn will it take on Shark Tank today? 1124 00:51:14,945 --> 00:51:18,825 We are true believers that if you want to make an impact 1125 00:51:18,945 --> 00:51:22,105 you can't do it by yourself. You have to create a community. 1126 00:51:22,345 --> 00:51:25,742 This will speed it up where we can 1127 00:51:25,825 --> 00:51:28,462 get more people on to our team 1128 00:51:28,545 --> 00:51:30,905 - we'll be able to create more impact. - Nice. 1129 00:51:31,065 --> 00:51:34,345 I really hope the impact you are trying to create 1130 00:51:34,545 --> 00:51:36,821 is created soon. But nonetheless, you 1131 00:51:36,905 --> 00:51:39,945 are trying to get a great change in society. 1132 00:51:40,145 --> 00:51:42,425 And Acko welcomes this change. 1133 00:51:42,585 --> 00:51:46,225 We want you to write a small message and sign 1134 00:51:46,425 --> 00:51:48,585 our Acko Change Makers wall. 1135 00:51:48,985 --> 00:51:50,545 [dramatic music] 1136 00:51:50,785 --> 00:51:52,745 I am very impressed with you both. 1137 00:51:53,025 --> 00:51:54,966 Like Acko insurance's 0% commission policy 1138 00:51:55,050 --> 00:51:57,806 your attitude is a game changer too. 1139 00:51:58,385 --> 00:52:01,265 Just believe. Very powerful message. 1140 00:52:01,356 --> 00:52:02,782 Congratulations on the deal. 1141 00:52:02,865 --> 00:52:04,782 Thank you for coming here and congratulations 1142 00:52:04,865 --> 00:52:05,545 for being on Shark Tank. 1143 00:52:05,705 --> 00:52:06,905 Thank you. 1144 00:52:07,745 --> 00:52:09,422 'Today's Shark Xperience' 1145 00:52:09,505 --> 00:52:11,062 'features a question by Raj from Warangal.' 1146 00:52:11,145 --> 00:52:15,265 'Anupam, you're very successful and have achieved so much.' 1147 00:52:15,385 --> 00:52:17,825 'Have you considered retirement?' 1148 00:52:17,985 --> 00:52:19,225 [chuckles] 1149 00:52:19,705 --> 00:52:22,145 You know, my dad told me something one day. 1150 00:52:22,265 --> 00:52:23,305 'The day…' 1151 00:52:24,305 --> 00:52:28,265 'Give me retirement the day you want me to die.' 1152 00:52:29,105 --> 00:52:30,742 He said it in jest of course. 1153 00:52:30,825 --> 00:52:32,665 But it has a profound message. 1154 00:52:33,225 --> 00:52:36,105 {\an8}A man needs to keep himself occupied. 1155 00:52:36,305 --> 00:52:39,065 {\an8}Work is worship in a way. 1156 00:52:39,385 --> 00:52:41,105 {\an8}If you have no work, 1157 00:52:42,305 --> 00:52:45,942 {\an8}then you grow extremely restless. 1158 00:52:46,025 --> 00:52:47,822 {\an8}At least I do. 1159 00:52:47,905 --> 00:52:49,625 {\an8}I don't understand anything. 1160 00:52:50,985 --> 00:52:52,462 {\an8}My mind is no longer in control. 1161 00:52:52,545 --> 00:52:55,705 {\an8}And it throws you completely off balance. 1162 00:52:56,105 --> 00:53:00,145 {\an8}The word retirement isn't in my dictionary. 1163 00:53:00,625 --> 00:53:04,553 {\an8}I don't think I will ever retire.