Greetings, ladies and gentlemen.
I'm Rahul Dua, the host of the show.
This episode of Shark Tank season 2 is ready for take off.
Co-presented by ACKO.
Payments partner, Cashfree Payments.
Ideas partner, Smallcase.
Co-powered by PokerBaazi.
Money partner, Fi Money.
Online food partner, Eatfit.
Eyewear partner, Lenskart.
Please fasten your seat belts
and remain seated until the show ends.
Let's go.
[music playing]
How will you define a successful person?
Somebody who has the power, status and wealth, right?
To me, a successful person is someone
who has the power of choice and freedom.
[music playing]
But after 75 years of independence,
do women have the freedom to wear clothes of their choice?
[music playing]
No.
Whether I wear an abaya or a sari,
modest clothes that cover my body
or revealing clothes.
It's my choice, right?
[music playing]
But does the fashion industry have choices for all?
No.
Forget hijab options,
if we talk about office wear,
modest casual wear,
sports or swimwear
then there is no choice.
So, by giving the power of choice
to empower with modest clothes, I started Forever Modest.
[music playing]
I'm from Aurangabad.
And I'm the founder of Forever Modest.
that have succeeded in the modest fashion industry.
But, for Indians, to purchase from that brand
falls very expensive.
[music playing]
My clothes are affordable, stylish, and trendy.
And we offer a wide variety in colours
You can buy our coats, abaya, corsets,
and the other products on our website
Wow.
I want to make Forever Modest a mainstream fashion category.
And I want to dominate it too.
Modest fashion doesn't cater to any specific community.
It's for everybody to wear.
[laughs]
- Nice. - Amazing.
Sana, welcome to the final week of Season 2.
Thank you.
Amazing!
- Is this you? - Yes.
Wow!
I've brought the sword too, if you want to see it.
- Yes. - Yes, of course.
Look, Sana. We have to fund you.
You're holding a sword now.
[laughs]
- It's the sword of empowerment. - Wow!
Well said!
Prêts? Allez!
Do it once.
On guard!
Oh!
- Oh! - Woah!
- Well done! - Thank you!
- Great job! - Good!
How old are you?
I'm 23.
Oh my, God!
So do you want to keep the sword or hold it?
Yeah, I'll keep it.
Bring it when we're negotiating in the end.
[laughs]
Sana.
You were going to tell us how you came up with this idea.
When I took up a sport,
I couldn't find sportswear easily.
[music playing]
They're usually skin-tight.
And the t-shirt length is not comfortable too.
So, girls who aren't comfortable revealing their body
they don't have a choice.
[music playing]
When did this thought strike you?
2017.
When did you start?
In 2021.
After I graduated as an engineer.
You directly started after
- college. - Yes, I have always.
My mom is a fashion designer.
My journey had started.
How will I learn if I don't get started?
- Oh, wow! - Good answer!
[music playing]
Sana, what I really liked
is that you've created modest clothes.
[music playing]
The colours are bright too.
- Yes. - As somebody who enjoys fashion,
- hats off to you! - Yes.
- Thank you so much. - Do you have an Insta page?
How many followers do you have?
- 15,000+. - Wow, not bad.
It's very good.
Oh, wow!
[music playing]
- Oh, wow! - Beautiful!
[music playing]
Got it.
And some models have come along
on whom I would like to showcase more designs.
- Please! - Sure!
- Oh, nice! - Oh, nice! Lovely!
[upbeat music plays]
Alright, girls!
- Well done! - Brilliant!
Beautiful!
Are you all from Aurangabad?
No!
You're from Aurangabad! Are you her friend?
She is my younger sister!
Alright!
Okay! Thank you, girls.
- Thank you! - Very nice.
Nice! What were your sales?
Sana, what were your sales last month?
4.20 lakhs.
So, are you alone or do you have a team?
I have a team.
My mom and a few of her fashion designers.
Few tailors.
We have marketing people too.
Sana, who is your consumer?
What other needs do they have?
Firstly, from 16 to
30 years of age, we receive most of the orders.
The consignments that I just mentioned
were foreign consignments.
In London and Serbia.
Do you want to build a brand in India or take it abroad?
I want to take it abroad too.
But firstly,
my priority is India.
Out of your sales,
- have you received B2B orders? - Yes.
What was the value of that?
Around 3.1.
B2B.
Yes.
Your maximum revenue is generated from exports.
Yes.
Sana, I have a question.
Are there other brands in India too?
There are no brands.
There are many brands abroad.
Nike also recently launched modest sportswear.
DKNY, Mango.
This looks similar to Adidas.
- Not your brand's. - Design.
No!
No, it's from my brand.
These three stripe lines.
He's right.
Okay.
Be careful about this.
Because they hold a patent for that design.
Okay.
It affects brand influence.
[music playing]
If we look at the global market,
the market is growing.
Yes, according to a recent survey,
it will be worth 2.5 trillion dollars.
By 2024.
[music playing]
Huh? No, not 2.5 trillion dollars.
- It's too much! - Yes.
India's GDP is 3.4 trillion.
Modest clothing. No, I'm talking about the worldwide market.
- Yet, it can't be. - Yes.
[music playing]
In India,
how big is the market?
Where is it spread?
Is there a need across the country?
I think there's a need across the country because
so many girls love wearing pants and loose jackets.
Everyone loves that!
The ratio of my customers
from the community
and outside of it, is almost the same.
- Okay, they're there too. - Yes.
Sana, I want to make an offer to you.
Wow!
Firstly, your story inspires me.
- I'm inspired by you. - Especially...
Yes, both of you, ma'am.
Thank you. We share a mutual love.
So sweet! Your expression is running through my mind.
Power of choice.
[music playing]
The problem is that it will be difficult to scale it.
Given how cluttered the market is.
So, to be very honest,
it will take me time to earn.
[music playing]
So, as a token and mentorship,
I would like to offer you 5 lakhs
for 5% equity.
[music playing]
And the remaining 15 lakhs as debt
Namita has made you an offer too.
It's a good offer.
I'm out for now.
[music playing]
But, I would like to suggest that
sometimes, when you start
doing well, big brands start noticing you.
That is where you can't,
you have to be careful about the design,
trademarks they might be having.
[music playing]
- But I wish you all the best. - Thank you.
I have a question for you. In your last month's revenue,
what was your profit?
It's up to 3000.
Which is the cheapest and the most expensive here?
The green one is the cheapest.
We sell it for 1499.
what do you wish to do with this brand?
My target for this year is
at least 50 lakhs.
I want to...
Say it. Don't worry. You're a go-getter.
I want to build a multi-billion company.
- Multi-billion dollar? - Yes.
Wow!
[music playing]
Sana, it was a pleasure meeting you.
You're confident and inspirational.
[music playing]
I see India's future in you.
You found a white space in the clothing category,
modest clothing.
Through you, I would like
to promote entrepreneurship in India.
I support women entrepreneurs.
[music playing]
Half the country come into the workforce.
I would certainly like to support you.
We have to convert it into B2C.
We have to use marketplaces
and have a larger vision.
The foundation is weak now but we'll make it strong together.
I would like to offer you 20 lakhs as per your ask.
[music playing]
At 20%. I've valuated you at 1 crore.
Wow!
[music playing]
So, Sana, I agree with Amit.
- modest clothing. - Yes.
It's powerful.
But your preparation is weak.
[music playing]
I think you get distracted.
When you said that you want to build it in India and abroad.
You started by saying that there are many brands abroad.
[music playing]
We're making it for India.
India is a big opportunity.
We can't get distracted so quickly.
[music playing]
Having said that, I can help your brand.
- Wow! - Amazing!
So, I don't mind joining him.
- If he's okay with that. - Yeah, of course.
So, Amit and I offer you
20 lakhs as per your ask
Personally, I feel
that you must target a particular consumer segment.
[suspenseful music]
The segment which relates to this clothing.
And then you may launch more products
- in that consumer segment. - Yes.
Otherwise, the target market size
will become limiting.
[dramatic music]
You'd need a lot of guidance.
I think you have good offers.
So I want to be out for now.
Sana, look.
I'm a bit disappointed.
[adventurous music]
The fact that you fail to do preparation for the market.
I'll work on it.
Secondly,
I also feel
that your business fundamentals are weak.
Okay.
For instance, your positioning
is all over the place.
Clarity is of utmost importance in the beginning.
Sharpness is crucial.
She must be searching for her sword.
[laughing]
Maybe it's there.
Attack Anupam with your sword.
[laughing]
I feel that you are innocent,
diligent and goal-oriented too.
Now you have a mother in Namita.
The M-word is with you.
[sweeping music]
One more M-word will join you, Mittal.
Oh, my!
But, Namita, if you want,
I think we must get rid of the debt at this stage
and make it Rs. 20 lakhs for 20% equity.
[sweeping music]
I have two offers.
- '- Which one are you going for?' - Which pair
should I choose? I'm clueless.
Because I love them all!
[suspenseful music]
Sana, tell us your decision!
My first counteroffer is...
What do you mean by the first counteroffer?
Are you going to give multiple counteroffers?
[laughing]
[dramatic music]
I want all four of you to join me.
How much valuation do you want?
I'm okay with Rs. 20 lakhs for 20% equity.
- Are you three okay? - I'm in.
'100 DEALS'
- It's the hundredth deal! - It's the hundredth
- deal! - Oh my God!
[exhilarating music]
- How do we stand with it? Please show us. - Like this.
This...
The hundredth deal of Shark Tank India season 2.
- Amazing! - Yes!
[exhilarating music]
- How do we do it? - All Sharks!
Whatever suits you.
[photo clicking]
Download PokerBaazi app on your phone and showcase your skill.
Because remember, you hold the cards in poker.
[bubbling]
[dramatic music]
[ethereal music]
Sharks, when we were born,
our parents took care
of all our needs happily.
For instance, they happily cleaned us up after excretion and urination.
But we often experience role reversals in life.
When parents need help from their children for the same activities,
their dignity is compromised.
[mellow music]
I witnessed such an incident
when I visited a hospital.
I saw a mobility-impaired patient
who wanted to use a toilet.
He had two daughters on either side
to lift him,
place him in the wheelchair
and take him to the toilet.
Then he was picked up from the wheelchair
and seated on the commode.
The toughest part comes here.
Who would clean the patient?
[mellow music]
When one of the daughters went inside to clean,
the patient started crying.
He said,
"I have become a burden to my daughters."
[melancholic music]
It doesn't just happen in old age.
Anyone could become immobile.
A minor accident
can make us completely dependent.
[melancholic music]
need help to go to the toilet.
Every year, around 4% of patients die
while going or coming from the toilet.
Does it have a solution?
Yes, of course!
[motivational music]
Sahayatha
is the support for mobility-impaired patients.
Sahayatha is the world's first wheelchair
Sahayatha helps
in reducing the number of caretakers
after 5 years of research
is to increase the quality of life
of mobility-impaired patients with the help of Sahayatha.
[ethereal music]
Completely immobile
and bedridden people
are helped by Sahayatha
to move from the bed.
[suspenseful music]
Ma'am, we needn't take the patient to the bathroom
because they can relieve themselves sitting in the wheelchair.
- How? - Let me show you.
The Sahayatha Wheelchair has a lid.
Once we remove it,
and washes the body after urination and defecation.
It's completely battery-operated.
Where does it get collected?
Let me show you.
[inspirational music]
It's a 3-litre can
You have given attention to detail.
- Very smart thinking. - Very smart!
You made it on your own.
Yes, ma'am. It's a patented product.
We have filed an Indian patent,
design patents,
Those are patent pending.
They are at the final stage of being granted.
[motivational music]
- Sruthi, right? - Yes.
Welcome to Shark Tank.
Your product demo was amazing.
You said that you worked with your dad for 5 years to make it.
How come you teamed up with your dad? What's the story?
Actually, I'm a biomedical engineer.
And, sir, my dad is a mechanical engineer.
My dad
was a special-purpose missionary manufacturer.
I always idealised him as a hero.
- I'm sorry because... - No problem.
I lost him recently.
- Oh! - I'm so sorry!
Uh-oh!
I'm really sorry for your loss, Sruthi.
- I'm extremely sorry. - That's okay, sir.
Deeply.
Especially because you worked
- with him to make this device. - Do you need water?
[mellow music]
Thank you!
[sniffling]
Sir, I was participating in an expo
and I got a call from home.
"Dad is unwell. Please come home soon."
[sobbing]
But I couldn't reach home on time.
[mellow music]
I was shattered.
[mellow music]
[gasping]
When we worked together,
we lost track of time.
[mellow music]
Sruthi, may I know when it happened?
January 5th.
And after three days,
I decided to go back to the office.
[gloomy music]
I had to take over the responsibility of my family.
After a short period of 3 months, I decided to launch Sahayatha.
You are a strong woman.
[melancholic music]
Your loss is devastating. I can feel your pain. I'm sorry.
Really sorry about this.
It's okay.
Sahayatha is available in two variants.
The S100 model has a reclining feature.
The S200 model is for people
who have some mobility.
How much does an ordinary wheelchair cost?
The cost of an ordinary wheelchair starts at Rs. 5,000.
Ma'am, normally, people buy ordinary wheelchairs.
Then one needs to buy a commode chair
for an immobile patient.
Moreover, they'd need two caretakers.
One caretaker demands
Rs. 1,000 per day.
The yearly expenses are astounding.
Keeping that in mind,
we validated the expenses
bearable by the patient during the clinical validation.
[suspenseful music]
I faced this problem first-hand when my grandmother was ill.
She's no more.
She was immobile during her last ten years of life.
I took care of her and assisted her as you said.
It was too difficult for her.
I didn't find such a chair back then.
I think it's a useful thing as every family has elders.
Your attention to detail is thorough.
Your work is laudable. You are a fighter and a strong woman.
Personally, I always ask about the sales figures.
Today I won't ask because your product is just four-months-old.
This product is a necessity and it is saleable.
We can achieve a good margin. I'll help you with the distribution.
You asked Rs. 1 crore for 10% equity.
I won't negotiate and give you Rs. 1 crore for 10% equity.
you must withdraw a monthly salary of Rs. 1 lakh after I invest.
It'll help you focus on the product and its sales.
We'll build a big company together.
- Okay. - Congratulations!
- Good one, Sruthi! Congratulations! - Very good offer. Well deserved!
How are you funding yourself right now?
During CSIP Fellowship,
The total investment is Rs. 1.16 crores.
Yes, sir. In the last four months,
we sold nearly 12 units.
Ten devices were sold to the hospitals.
The patients who go home after using it in the hospital
- order from us. - Okay.
Also, there are more orders in the pipeline
from the state government and also from the central government.
- Okay. - Sruthi, I have a few questions related to the product.
- Yes, sir. - Shower wheelchairs are available in the market.
We can move that wheelchair into the bathroom
and park it over the pot.
And the patient can relieve themselves on the pot.
But why do it in the room?
A Shower Wheelchair is used for defecation and you may flush too.
But still, you need assistance to clean up.
Sir, not just that.
Our target consumers
belong to the low-income and middle-income groups.
They can't afford a Shower Wheelchair.
Did you assess the market size
of wheelchairs in India?
The market size for wheelchairs is Rs. 800 crores.
I want to market it globally. That's one of the reasons
we filed a PCT covering 140 countries.
- Got it. One more question. - Yes.
- You said that you have made it for poor people. - Yes, sir.
But your price point is Rs. 40,000.
- It's a big stumbling block. - Yes.
What is your opinion about it?
Sir, we want to follow the financial model for this product for now.
We have tied up a deal with Bajaj Finserv.
And in due course of time, we will make it affordable such that,
it will sell at the cost of a normal wheelchair.
- Okay, Sruthi. - Yes.
I've made up my mind.
The most striking thing
is that you
have directed your pain towards a cause.
[music playing]
Your energy got conveyed!
You're a combination of guts,
spark,
and hunger.
So, I would like to back you up.
My grandpa underwent this too.
- Hmm. - But I was not so lucky
to be able to help him.
So, I might be able to make up by joining Amit.
- He understands this problem so closely. - Yeah.
- So, all three of us. - Yeah.
We will offer you 1 crore for exactly 10%, as you asked.
You're really a phenomenal entrepreneur.
[music playing]
I won't be able to help you much in this cause.
You have received the offer that you asked for.
And three Sharks who
are equally passionate about it.
So, at this moment, I'll wish you the best. I'm out.
- It's okay. - But if you ever need help
- I'm just a call away. - Thank you, ma'am.
Sruthi, you are a...
I always preach, and it's written here too.
Hustle hard and stay humble.
You have both.
[music playing]
Why won't we back you up then?
I'm also in with these guys. Three of them.
- Okay. - Cool.
So, Sruthi, I understand this industry very well.
I have five investments in mobility already.
Okay.
I know this product in detail and I even have the network.
Nothing sells for 50,000 rupees in this industry.
But she's promising to reduce the cost.
And if you wish to make a dual-purpose wheelchair
then we will have to work on the design.
On the aesthetic factor.
- Definitely, yeah. - Right?
So, I would like to join
- Just the deal you asked for. - The deal is done!
Congratulations!
Thank you so much.
Congratulations once again on the five-Shark deal, Sruthi.
Through Sahayatha,
how do you plan on bettering the lives of the patients
and their families,
and making their lives more dignified?
What change will you bring about?
The change we wish to bring
through Sahayatha is not just to improve the quality of life,
- but also increase the lifespan of patients. - Yes.
That will bring some respite to the families of the patients.
- Absolutely. - And even the patients
will see a change in terms of living their lives independently.
That's a wonderful change for the society
and ACKO welcomes such change.
We want you to write a small and lovely message
on our ACKO Change Makers wall.
With its 24-hour claim settlement policy
and excellent offerings of zero commission and zero paperwork,
ACKO has changed the world of insurance.
May you positively improve and change the lives of people
with your hard work.
Wish you the very best.
[ethereal music]
Sharks, I want to eat delicious pasta and noodles today
but all of us know it's unhealthy for our bodies.
[chuckling]
I'm addicted to tasty and fattening food.
My name is Mr. Wicked.
I eat only healthy food
and my name is Mr. Good.
[laughing]
We may stick to a boring diet for just one day.
The real happiness lies in eating pasta and noodles made with maida.
[laughing]
A cheat day has turned into a cheat week.
Pick salads now at least.
Guys, stop fighting.
Why can't we have the best of both worlds?
Let's eat food which has healthy ingredients of dal and rice
along with the delicious taste of pasta and noodles.
It'd uplift your mood. Presenting Wicked Gud.
[motivational music]
Whoa!
- Greetings, Sharks! I'm Soumalya Biswas. - I'm Bhuman Dani.
We replaced the core ingredient maida
used in pasta and noodles
Our instant noodles
are manufactured with SCAD technology.
The products of WickedGüd
will be readily available in the grocery stores of six cities
by March 2023.
Our ask is Rs. 50 lakhs for 1% equity.
[joyful music]
- I'm an investor in your company. - Yes, that's right.
- Really? - Are you asking them or telling them?
- I'm informing. - Have you met them before?
- I didn't meet them because... - But still, you invested.
[laughing]
Hold on! He wants to crack a joke.
I request you to laugh at his joke. Go on.
So I can't be a part of this panel.
There could be a conflict of interest.
All the best. I'll meet you later.
- You must have brought some food items. - Yes.
- Please give me some. I'll take them with me. - He's gluttonous.
[chuckling]
[laughing]
I want you to double my money today!
[laughing]
By the way, they have doubled already.
Are they? Very good!
[chuckling]
He said his money doubled. At what valuation did Aman invest money?
He invested in the pre-seed round at Rs. 17 crores post-money valuation.
'Alright. We got the point.'
Lovely packaging. Lovely branding.
Very good.
I've been born and brought up in Mumbai.
I did mechanical engineering from BITS Pilani.
I did my MBA from INSEAD.
I got placed in the Boston Consulting Group in London.
In 2016, I returned to India
and I launched my first startup.
It was in premium tea and coffee space.
- 18 crores ARR. - Great!
- And you're the CEO. - Yes.
To launch this time,
we wanted to start with a slightly wider audience.
Like, noodles. Good point.
within 5 years then
I will need a great team.
So, I met Monish through a common friend.
And Somalya on Linkedin.
I completed my BBA with specialisation in IT.
I did MBA in marketing and PR.
After that, I joined Hindustan Times as a management trainee.
I worked there for 4.5 years.
By the time I left, I was the key accounts lead.
HUL, Mondelez,
Parle, I got the opportunity to work with such
legendary companies.
Then what did he do?
[laughs]
Engineering, MBA, work experience.
I'm a literature student.
Storytelling flows in my blood.
I've done masters in consumer behaviour.
Well done!
I've launched Volkswagen in India.
Between 2009 and 2011.
You have strong sales and marketing pillars in your team.
Who is interested in food technology?
- There are three more advisors. - Good.
They help us with R&D initiatives.
You used a term at the start of your pitch,
- SCAD technology noodles. - Yes.
Tell me more about it.
- Really? - Yeah.
There might be one or two companies
in the startup space, working on this.
But if you compare our pricing with theirs,
we are very economically priced.
In comparison with Maggi, the dominant player,
We started with pasta and launched noodle 3 months ago.
Within 3 months, we've sold more than 50,000 noodle packets.
What is your monthly growth?
Shall we understand the unit of economics
to understand if there is profit being made?
Around 50 lakhs EBITDA negative.
- Per month? - Per month.
- And sales worth 35 lakhs. - Correct.
Oh my!
What are you doing?
You must've raised a lot of funds in Aman's round.
We raised 13.25 crores.
He has raised so much.
This market is very cluttered.
As an investor, I don't see a path to profitability.
And for that reason, I'm out. But delicious pasta.
I have a quick question. Around you,
do you notice what's going on for the last 2-3 months?
- Particularly, food. - Absolutely.
Companies are not able to raise funds.
Correct.
- Companies are shutting down. - Correct.
Because there is no proposition.
You all are extremely smart and very qualified.
So, I can understand that until 2-3 months ago,
you were following a growth model.
- Because the market was supporting i and funding you. - Correct.
But since 2-3 months,
why didn't you pivot it
and steer it towards profitability?
[music playing]
Look, all that's happening around us,
an entrepreneur must adapt and respond to it.
- Correct. - That demonstrates agility.
I find the road ahead very difficult.
[music playing]
I don't think I can join hands with you yet.
So, I'm out. Good luck to you.
Thank you.
You said that you want to build
a 10,000-crore brand.
I think the fundamental motivation
is the faltering point.
You're chasing the money
like people who want to become a unicorn.
[music playing]
If it isn't your motive then never say that again.
It's not my goal.
But you've said it. So, I've to take that.
- So, I'm out for that. - Of course.
- Okay. - I want to be out too.
I think the valuation
is way off the tangent.
So, I won't be able to make a deal now.
For that, I'm out.
Okay.
You have raised so much funds quickly.
So you've stopped innovating.
[music playing]
You're spending 200 rupees on marketing per order,
it turned me off right there.
Reset your business. Don't run it this way.
Your company will shut down if this continues.
[music playing]
I want to be out now.
I'm not able to align with you.
Spend time with Aman.
I hear Aman.
I hear his footsteps.
Where was the energy?
If I heard your pitch as an investor
then I wouldn't invest too.
[music playing]
As Peyush said, why are you chasing investments?
Grow this.
They said that the food was tasty.
- Leverage that. - Correct.
- Thank you. - Perfect, thank you.
You doubled my money. Let's make it four times.
- Okay, thank you. - Thank you, everyone!
- See you! - Thank you.
But, Aman, they should've been agile in the last 2-3 months.
You should tell them.
I should help them more.
Team WickedGüd.
You've introduced such healthy alternative to pasta and noodle.
other customers will also buy from your website.
Your increasing online transactions
Cashfree payments give you out of the world payment solutions
for your out-of-the-world ideas.
The account has been created. You have been registered.
You have credits for transactions worth up to 50 lakhs.
- Congratulations! - Thank you.
India's high-growth startups have accepted Cashfree
for hassle-free transactions.
Grow your ideas into business with Cashfree Payments.
Once again, wishing you all the very best for your future.
Take care.
[music playing]
I'm from Delhi. I'm a publisher of a publishing startup.
I know that the world of founders is scary.
[scoffs]
All of India's founders
if they find a mentor,
a mentor who is so sharp
that can inspire the nation.
Now, where will we find this mentor?
Sharks, I want to make my pitch to you.
The Ultimate Book for the Indian Founder.
Wow!
The name of this book
is called the Shark Tank India's
Guide to Launching a Startup.
- Wow! - It will feature all of you.
Incredible!
Let's see the cover.
Wow!
Now, may I invite you
to come and please sign on this beautiful cover.
Alright.
This book will include everything.
There will be tips, strategies,
and many more stories.
And the idea is that an entrepreneur can read it
and get reassured
that they can be great too like the Sharks on this page.
[music playing]
[water bubbling]
Happy birthday, Esha!
Look what I got for you!
What is this, Dad?
It's such a boring, regular office bag.
But what do I do?
Only such bags are available in the market.
[music playing]
Sharks, this is the problem.
Bags are an important part of our styling and attire.
But in the market, you find dull black
or brown leather bags.
If I want to buy something unique and colourful,
then there are expensive designer bags
that burns your pocket.
Whether it's for makeup or sanitary products,
keys or cash, bags are a woman's lifeline.
In the category of bags,
why doesn't anybody introduce trendy, colourful bags?
Don't worry. Maisha is here.
[music playing]
Maisha is a lifestyle accessory brand.
our bags will give you a bold and beautiful style statement.
These bags are made with eco-friendly materials
like cotton slug, jacquard,
Yeah!
But in Maisha, we gave it a fashionable twist
by making bags out of this.
Also, you will see pouches,
duffel bags,
and a wide variety of products.
Wow!
We have more than 25,000 customers.
Generally, traditional businesses
are handed over from generation to generation by parents.
But I've taken a new-age approach
and joined my daughter's business.
- Woah! - Wow!
- Very nice! - We built this together.
A powerful, new-age brand.
Our vision is
to be a part of every lady's wardrobe
and ensure they own at least one Maisha bag.
We're asking for
- Wow, nice! - Lovely.
I am curious! I have a question.
After a certain age,
there is a difference of opinion between the parent and the child.
I hold my own.
- "- This is what I want to do." - Very good!
- Nice! - I don't usually back out.
- He knows you are the boss. - Yes.
I play a big role in their creativity.
[laughing]
Let me tell you about my role.
Vineeta and Namita will immediately come to know what I want to say.
[regional language]
[laughing]
What does it mean?
"I don't go against her."
"I don't dare to go against her." Right?
Right.
No prizes for guessing that Esha is the CEO.
[laughing]
No!
- My dad is the CEO. - Okay, we didn't know it.
What are your responsibilities in the company?
She's the creative head.
She has two main responsibilities.
Starting from the concept to the pilot production,
she handles everything.
We have a strong presence on social media.
Content creation on social media
is her responsibility.
I handle operations.
Neel handles marketing strategy.
- I'm assuming that you are a bootstrapped company. - Yes!
[exhilarating music]
[joyful music]
The quality
and appearance of the bag are nice.
I have just one question.
The design language
and the aesthetic style of a brand
seem to be confusing.
Because some of your designs are ethnic.
Some of them are modern designs.
There are houndstooth prints that are currently trending.
Don't you think the designs are confusing?
Where you might lose focus on the consumer?
If you look at all our bags
they are made from woven textured fabrics. Every bag!
But that by itself is not a differentiator.
- It is not a monopoly market! - Correct!
If you see a famous designer's bag,
you'd recognise the brand from afar.
A design language helps create branding.
At least I can't see that in your product.
[sweeping music]
- Can we see your Insta page? - Of course!
It's our Instagram page.
- We have around 2,40,000 followers on Instagram. - Wow!
Awesome.
What about the engagement?
All our reels
- get 50,000 to 2.6 million views. - Very nice engagement, guys.
- Wonderful. - It's crazy.
- And I'm extremely passionate about... - It's amazing! I love it.
Please show one of your reels.
[happy music]
Your focus is the story behind the brand.
Yes. That has always been...
- Uncle, what kind of headphones are you using? - Sir, it's boAt's.
Very good. [laughing]
- Right answer! - Your cheque is ready.
What's your monthly marketing cost?
Do 20% of customers come organically without paid marketing?
Are they attracted through paid marketing?
- No, sir. The repeat is organic. - The repeat rate is organic.
Please tell me the cost of your products.
The bag you are holding costs Rs. 1,449.
Nice.
All the bags are in the same price range. Right?
I want to know from you two.
Is this bag cheap or expensive?
- What is your view? - It's affordable.
- Rs. 1,450 for this bag is good. - It's good enough.
Please share your sales figures.
in sales from Rs. 73 lakhs to Rs. 2.92 crores?
Before Covid,
we sold our products only through exhibitions.
Post-Covid, we launched our website by the end of 2020
- and we achieved sales of Rs. 73 lakhs. - Wow!
- What were your sales for the last month? - Rs. 47 lakhs.
What was your growth in the last three months?
- Have you maintained the average of 10% all along? - Yes, sir.
Okay, got it.
How much inventory do you have right now?
Our inventory is for 40 days.
So you are selling through almost all your products.
I have made my decision.
I liked your family dynamics. It's very nice.
The handbag market is too cluttered.
I visit many exhibitions and stores
for gifting items.
I don't find a uniqueness of design or a USP in your product.
[tense music]
I'm sorry for now but I'll be out.
- Thank you! - Thank you, Aman.
Firstly, your revenue and your profit
are phenomenal in light of your scale till now.
But your content game outperforms it.
People follow the same old pattern in the branding of bags.
They post pictures of an influencer carrying the bag.
But you showed the story
of the origin of the bag
and your community who made the bag.
[sweeping music]
It's unique and differentiated.
I think the young generation
can be attracted
genuinely with the help of such content.
I have invested in a company
- called Zouk. You must be aware. - Yes.
They earn 4 to 5 crore rupees per month.
There can be multiple brands
- but Zouk has already occupied a pole position. - Correct!
And it makes brand creation
tougher for you.
and build a bigger brand.
[dramatic music]
I want to be out for now.
I think your biggest challenge will be family dynamics.
Your business earns just 7 to 10 crore rupees now.
To raise capital and make your business worth Rs. 100 crores,
you'll have to sort out the equity structure and ownership.
- I genuinely think, Esha, you'd have to become the CEO. - Okay.
You need to do it to raise capital in the private markets.
It's not because he isn't capable enough
but this brand belongs to you.
You know, it's your baby.
And eventually, you'd have to
take charge of the ship
to grow it in future when it reaches a certain scale.
- I'm out today and phenomenal job. - Thank you!
I'm still not convinced
about the fact
that you have a democratic decision-making process.
I don't buy it.
[suspenseful music]
Why? I can't explain it. It could be my instinct or whatever.
I think it isn't equitable.
And you could face problems in future.
So think about it. I'm out, guys.
- Thank you! - Thank you!
I liked meeting you.
I always look for a spark in a founder
and your Instagram engagement is unparalleled.
Achieving stupendous organic marketing while sitting at home
- is a rare thing. - Agreed.
Your achievement is laudable.
[dramatic music]
My main concern
when I'd join as an investor
is that it appears to be a family business.
It doesn't appear to be scaleable and an investible enterprise.
[sweeping music]
But still, I want to join you
because I think I can give you mentorship
- to make it an enterprise at least. - Definitely.
My offer is Rs. 75 lakhs.
I'll give Rs. 10 lakhs for 1% equity at a valuation of Rs. 10 crores.
CEO, what's your decision?
The new CEO will tell you.
[laughing] Amazing!
That's more like it.
If you said it before, you'd have received two more offers.
Amit, we'd like to accept it.
- Alright, guys. All the best! - Well done!
You grew 10 times in two years. Great job.
[exhilarating music]
Did you like the Sharks?
'Vineeta, in today's Shark Xperience, '
'Hansa from Silvassa has a question for you.'
'I never saw you writing'
'in your diary on Shark Tank India.'
'But you remember everything.'
'How do you do it?'