[music playing]
[theme music playing]
[music fades]
Sharks, how about something sweet before we begin the pitch?
We've kept it on your side tables.
[pleasant music playing]
- We need to call for spoons. - Jigar!
We forgot to keep the spoons.
Tissues, guys! Tissues! We didn't keep tissues either.
Their hands will get sticky!
[Anupam laughs]
Sharks, it's a real task
- to have some honey, isn't it? - That's right.
You've to open the jar, find a spoon
and then clean your fingers afterwards.
It's all a complete mess.
The world has seen some amazing packaging revolutions
that have changed the way we use certain products.
- Tea bags for instance. - Great example.
Or look at shampoo sachets.
We bring to you one such packaging innovation
with Honey Twigs.
[pleasant music playing]
Sharks, Honey Twigs is a great packaging innovation
that allows you to consume honey
anywhere, anyhow and at any time.
Be it your office
or packing your child's lunchbox...
- Hmm. - Or while travelling.
It's very simple.
All you have to do is tear,
squeeze and eat.
We give you mess-free honey,
All our honey is ethically sourced.
All the batches of our honey
are lab-tested for quality and purity.
We sell through our website, online marketplaces
Tell us about yourselves. What is your background?
Why did you choose this market?
I am from Delhi.
My father owns a business of cosmetic raw materials
in which the core product is beeswax.
- Hmm. - When I was a kid, I'd visit many apiaries with him.
My fondness for honey began from there.
So much so,
that when I did my Masters
from the University of Westminster, London,
my dissertation was also on honey.
I took that forward to convert it into a business model.
Nice. So, you're the main founder of this business.
- No. Paras and I are Co-founders. - Okay.
I grew up in Mumbai and studied there.
I went to London in 2008 to study for my Masters
where I first met Jigar.
In 2016, when Jigar shared this idea with us,
it piqued our interest.
We conducted our research
and learned that the use of honey as an alternative sugar
faces three major problems.
The first is, everybody thinks honey is messy.
What about you, Prafull?
I have 25 years of experience in the field of food,
non-food, FMCG and B2B business.
During my career,
I have been associated with Indian brands
such as Himalaya Herbals and VLCC.
Out of my last two assignments,
one was as a CEO of Middle East in Africa
for VLCC International.
Apart from that,
I was the Chief Business Officer of VLCC's South East Asia business
and was based in Singapore.
Prafull, what did you see in this business
that you decided to join this start-up?
This is a unique innovation in this category
which doesn't exist elsewhere.
Is this any difficult?
At the end of the day, you just need to pack it
This is no ordinary sachet.
If you compare it to tomato ketchup or other sachets,
opening them is not non-messy.
The USP of our sachets is
that not even a drop of honey
will come out without your instruction,
which is to squeeze the sachet.
However, mess-free honey in a squeezy tube
has been available for years now.
We are a portion pack.
This is one teaspoon which is 8 grams.
It isn't like by introducing sachets or packaging,
a new brand has disrupted an existing brand.
So, what makes you think you can establish a new brand
just because of packaging?
This problem isn't unique.
- Anybody could have solved it. - That's right.
Yet no one has done it to date.
There was a disruption opportunity which we noticed,
and took the plunge.
Second, if you look at honey consumption today,
the usage of honey
and its aspects are gradually changing.
For instance, you have lemon, water and honey every morning.
We have a variant called Lemon Infused Honey.
Whether it is Dabur you use or any other brand,
you need to cut a lemon into half,
squeeze out the honey
- unwitting of the portion... - Interesting.
This brings an element of convenience to lifestyle.
Third, coming to children.
If you give honey to children in a spoon,
it propagates a medicinal mindset among kids.
If you give it to them in this packaging,
it serves as a sweetener for children which is a replacement for candies.
Very interesting. Are the twigs available in Starbucks
made by you?
- Yes. - Yes.
Let us try them.
[pleasant music playing]
- Which one do I take? - Aman, you should try Lemon Infused Honey.
We know you don't like honey.
- You watched last season's episode! - Yes, sir.
You're very clever, bro!
[both laugh]
[light-hearted music playing]
It is very easy to open.
You cracked it.
- Did it spill? - It didn't spill.
- Very good. - The packaging is very good.
This is a huge compliment for us
because since day one, we've wanted to give our honey to Aman.
You did. Can you imagine I liked it?
Apart from the packaging,
the taste is also a big differentiator.
And you know, flavours...
Why didn't you talk about it?
You've been only talking about the packaging.
No, both of them are differentiators for us.
Our idea behind it is to make healthy eating convenient.
We will introduce more products through our packaging model.
- Correct, exactly. - In which you also have infusions,
you are underselling that.
You have come up with your own recipes.
And your product in this looks very cool,
- very nice and very different. - I would love to gift this.
- Anyone else would like to gift this. - Yes.
So, coming to the honey-tasting audience.
Have you had them taste this?
- Yes. - What were their views?
Our variants are loved by kids especially.
When we launched the product,
we used to put up stalls at food fairs.
Kids who disliked honey have visited our stalls.
Their mothers said that they didn't eat honey at all.
We gave them Vanilla Honey.
The kids loved it so much that they bought a few packets.
We converted people into consumers of honey
with our variants.
Do you have a differentiation in sourcing?
These days, most brands claim their honey is natural.
Our honey is procured from the Uttarakhand-Himachal belt.
- Do you own that? - No, it is outsourced.
How do you know...
- We... - How the honeybees are treated?
In 2020, we bought a strategic investment
which is one of the largest suppliers of honey in India.
They maintain our relationship with the beekeepers.
Via that, we teach ethical beekeeping to beekeepers.
Also, as for the overall process of the product that lies with us,
we can have complete control over it.
The entire packaging is manufactured by us.
because everyone wants a healthy sweetener.
If we talk about the Middle East,
the markets over there
see a tremendous consumption of honey.
People consider it a religion
- and it is even used for religious purposes. - I see.
At what percent is it growing?
Okay, tell us about your sales.
Our sales for FY 2020-21 were Rs. 1.3 crores.
Our sales for FY 2021-22 were Rs. 2.6 crores.
- And our sales for FY 2022-23 were Rs. 4 crores. - Nice.
As for the last quarter,
our sales in June were Rs. 55 lakhs,
Rs. 18 lakhs in July
and Rs. 35 lakhs in August.
It was Rs. 35 lakhs in September as well.
Explain the dip.
You went from Rs. 55 lakhs to 18 and then to 35 twice.
We received an export order in June for Rs. 35 lakhs
which created a big increase.
If we exclude the exports,
what are your monthly sales from India alone?
About Rs. 20 to 25 lakhs.
65% of our sales is domestic.
What is the break-up of retail and HoReCa
in your domestic business?
60% is our HoReCa business and 40% is our retail business.
What is your projected revenue for FY 2023-24?
If we don't raise funding, then it is Rs. 6 crores,
and if we raise funds, then at least Rs. 9 crores.
One was an angel round very early in 2017
in which we raised Rs. 50 lakhs.
What valuation was that at?
It was at a valuation of Rs. 2.77 crores.
- Post money. - Pre money.
After that, we raised an investment of Rs. 1.5 crores in 2020
at a valuation of Rs. 12 crores.
We took Rs. 50 lakhs in cash
How much equity does each one of you hold?
We both have 36% equity each.
13% is held by our strategic investors.
And 15% is held by our initial investor
who are the angel investors.
At this point, Prafull has invested Rs. 1 crore in the business.
He holds 5% equity.
Wow! You've invested Rs. 1 crore of your own money as a co-founder.
- That's right. - Well done.
- A valuation of Rs. 20 crores. - Yes, sir.
You have such implicit faith in your business
that you invested your money at this valuation.
Hats off to your conviction.
Hey!
I decided I'd never invest in the honey business.
- [laughs] - I don't like it.
I really like all of you as founders.
- Thank you. - I think I can work with you.
The product is good, the taste is solid. I liked it.
Profitability is in your DNA.
Even after raising so much, you have not gone all out.
"Let's do this and this as well..."
So, here's my offer.
Rs. 45 lakhs for 3% equity
They approached Taj, Oberoi and others
and did sampling by giving them loads of products
at very affordable rates.
That created a high demand among the consumers
and they built a retail business.
If you look at it as sampling,
where you are using your brand to create an opportunity
to get the consumer to try the products, then it's brilliant.
I think the innovation is quite good.
You designed this very thoughtfully.
This has two sets,
which if you were to tear, the honey doesn't immediately...
- Ooze out. - Pop out.
I think you put a lot of thought into it
and I really love that.
- So, I'll make an offer to you. - That's lovely.
Ah!
Everybody copies me. Very bad!
Rs. 75 lakhs for 4% equity.
And at some point, if Aman wants to collaborate,
I'm happy to do a joint deal.
Vineeta made a great pitch for Ritesh and me.
If you try HoReCa sampling, it will help build your brand.
- After that, you should get into distribution. - [Sharks laugh]
I thought I'd go ahead without asking Ritesh.
I know what kind of a guy he is.
We've become friends in such a short time.
We'll offer you a dream deal, we'll meet your ask.
[gripping music playing]
Rs. 75 lakhs for 3% equity
along with HoReCa distribution sampling.
We did the same partnership with Biotique too.
So, I can't commit, but we will try
that for our in-room services,
we introduce you to our hotel owners.
I wish to join Ritesh and Anupam...
[tense music playing]
In this offer
which is Rs. 75 lakhs for 3% equity,
if they are okay with it.
Are you in?
Listen, Anupam. At least ask Ritesh.
- The poor guy doesn't want to go with you. - I'm asking him.
No, I said yes.
- Could you give us two minutes? - Quickly go and come back.
Our deal becomes a little non-competitive.
So, we'd like to revise it.
Let me tell you.
There are many hotels apart from OYO.
If you go with OYO, other hotels might not partner with you.
- Do you get what I'm saying? - Exactly.
Ritesh is one of the best gentlemen, right?
I like him.
I may not say the same thing about others,
- but I really like him, okay? - [laughter]
Let's ask him.
Even if you don't make the offer, will you still keep the samples
- in your hotel? - Will you do it?
He will.
He cares about the founders.
He wishes them luck when they leave. Don't you?
- Tell them. - I certainly do.
So, you will get OYO regardless, okay?
You will also get the other hotels.
You'll also get D2C, you know?
Vineeta and I will
together give you Rs. 75 lakhs for 4% equity.
We are kingmakers.
This is the kingmaker. Take your time to think, bro.
When you return, don't say, "We want everyone on board."
We don't want to collaborate with them.
- The cheque... - [hysterical laughter]
Don't do that.
[tense music playing]
Look, do you want intelligence or arrogance?
Intelligence, right?
- Oh! - Make your decision, please.
Have you watched Shark Tank?
Then I'm sure you know who is arrogant.
[music playing]
People offer deals, I offer my heart.
[tense music playing]
Pick one, guys. Come on. Let's go.
[suspenseful music playing]
Let me caution you.
In the Tank,
when you over-negotiate and when things go haywire,
the deals evaporate.
So, what have you decided?
We'd like to suggest two combinations.
One option is,
if all five of you wish to collaborate,
we could do Rs. 1 crore for 5% equity, Sharks.
is that we'd go with Ritesh, Peyush and Anupam's offer.
Let's do it. Rs. 75 lakhs for 3% equity.
- Done deal. - You have a deal.
[camera shutter clicking]
- All right! - Thank you.
- Amazing deal.
[music fades]
[theme music playing]
[music fades]
[clanking]
- Greetings. - Hello.
I used to be sad and morose.
Scrubbing this wok had sucked the joy out of my life.
Then I came across
a dish cleaner with the power of a hundred lemons.
Now, my life is, predictably, full of happiness.
[laughs]
Sharks, have you been brainwashed into thinking that too?
"It destroys 99.9% germs."
"Three times cleaner..." And so on and so forth.
I can't say whether they kill 99.9% of the germs or not,
but this is how conventional cleaners
are coating your homes with harmful chemicals.
So, I present to you Koparo.
[light-hearted music playing]
We are present on major e-commerce sites,
because my father was in the Indian Army.
The road to college
took me from Delhi University to LSC in London
followed by ISB in Hyderabad to pursue my MBA.
I passed out in 2006 from ISB.
- Okay. - So, I've had 15 years of work experience before Koparo.
After I completed my MBA, I started working at McKinsey.
I moved on to Star and Hotstar.
My last big assignment was with Star.
I oversaw the revenues for Hindi GEC channels.
By revenue, you mean sales.
- Yes. - Okay.
I was the CEO of Juggernaut Books before I started Koparo.
Wow! All right.
- You oversaw sales again. - Yes.
- So, basically a sales... - A business person.
A Business, sales person.
I understand revenue and monetisation.
How did you plan to start Koparo?
You had such a great professional career.
How did you leave that and begin your journey of entrepreneurship?
During the pandemic, we were all locked up at home.
Work from home, study from home, homeschooling, all was on.
At home, my husband and my 5-year-old daughter
were helping me clean.
Then I got interested in
the ingredients of these cleaning products.
I was both surprised and sad
that they have a lot of toxic chemicals.
Hmm.
And I felt that we must bring a solution for the Indian market
which makes these products eco-friendly, child and pet safe.
And if my five-year-old wants to clean,
I can give her my products without any hesitation.
I'm sure that you've studied the market size and opportunity.
My training at McKinsey,
and my business training in the media industry,
I built a top-down market view.
When these two numbers, bottoms-up and top-down
start to match,
you're sure that your estimate of market sizing is correct.
There's a new wave of D2C brands, but they are few.
And it's a white space, an opportunity.
I understand women's power.
What's coconut power?
Every cleaning product has a surfactant base.
Surfactant is what causes the froth.
So our surfactant
Is there any data to prove that when you wash your clothes,
Um-hmm.
with a washing powder of an average brand.
Right.
So, how will it impact your health?
Is there any study or data?
If you study the ingredients,
bleach, a common ingredient in laundry detergents.
There are many medical studies
to prove that it can trigger dermatitis, eczema,
and various eye irritations.
Thanks to the beauty industry.
Bleach, phosphates, ammonia, there's a lot of awareness about it.
That these chemicals are not good for us.
But in the beauty industry, 80 per cent use SLS, SLES.
Too far-stretched.
Firstly, in this entire category,
where you can create an in-road is your dish-cleaning.
Because it's assumed that it touches your vessels
and if there's toxic residue, then you're ingesting it.
So, it's in-me platform.
So whatever you're putting into yourself,
you will get the fastest growth there.
And yes, dishwashing liquid is my hero product.
that all chemicals are bad for you.
There's no scientific conclusion to it yet.
It's a positioning game.
Like you started your pitch
and it has become a new story.
I'm not a believer that all chemicals are bad.
I'm also not a believer that your efficacy be compromised.
So, we only launch products whose internal lab study satisfies us
that these natural cleaners are equally effective
if not, better, in terms of cleaning.
But then FMCG companies can also do the same, right?
- What is stopping them? - It's already happening.
It will happen in this industry too.
- Yeah. - But how does that matter?
Because they have distribution.
- Doesn't matter. - No.
- They're not interested - We...
in this because your price point must be high
and it's a small market for them.
If this trend is mainstream, it will surely grow.
Within 4-5 years, they will surely enter this market.
Until then, we can build a big brand here.
But your opinion on price points.
So, I'd like to tell you that we're not 2x or 3x premium.
As the pack size increases,
the premiums become more attractive.
If I get into laundry liquid,
That's the point. The world has adopted it
and it's native to us, yet we're behind.
But are there coconut cleaners abroad or just coconut food?
No, definitely. Whoever makes natural cleaners
use coconut or sugarcane based surfactants.
And internationally, there are big companies.
- Name a global company. - Seventh Generation, the biggest.
- Same? Based on coconut? - Yes.
Please show us your products.
[music playing]
Thank you.
That's an air freshener. You can pick up a fragrance strip.
Ah, nice.
And what is this? Don't tell me that you're launching t-shirts.
No, we're not. This is a t-shirt washed in our laundry care.
- Ah. - So, I wanted you to see it.
That's an all-purpose cleaner.
- Okay. - And handwash. This is a detergent.
[music playing]
This all-purpose cleaner smells clean and fresh.
Yes.
It doesn't feel chemical.
Your air freshener smells great.
I tried it on the strip.
You suddenly moved from cleaning to fresheners.
Isn't it a segment diversion?
Uh, our air care helps us a lot in our offline activation.
- Okay. - People can touch and feel it.
And over the last 2.5 years, fragrances have become our USP.
But hand wash is too stretched.
People believe that something used to wash vessels,
or wash clothes,
I won't use that brand to wash my hands.
There are rare brands that have been able to move
from vessels, clothes, to handwash.
Actually, our hand wash adoption is pretty strong.
We are making a category brand.
But if I feel 18 months later,
that in this portfolio,
only 2 or 3 ranges must be kept, then we shall do it.
I see.
Are there many competitors around you in India today?
If they are, then how ahead of them are you?
In terms of market share, presently.
There's a brand called Herbal Strategi.
Hmm.
- There's a brand called PureCult. - There's Born Good.
So, we have many points of differentiation.
PureCult's products are
- two times pricier than us. - Expensive.
Some of them are loaded with essential oils.
They have added colours too.
What's the difference in market share?
But we're bigger than them.
You're bigger than all of them?
Not bigger than Herbal Strategi.
They have been in the market
- for a long time. - Been long.
They have been in the market for 10-12 years.
But we are bigger than the other two.
How big is Herbal Strategi?
They do business worth
- 300-400 crores. - Okay.
What's your revenue?
Last month, we made Rs 80 lakhs.
Not bad.
- Revenue last year? - Rs 4.5 crores.
- And this year projected? - Rs 12 crores.
Because the space is not crowded in natural care yet.
You have so much guts that Surf's price point
which is the market leader,
you've almost matched it. That's phenomenal.
I will make you an offer. Rs 70 lakhs for 2 per cent.
- Thank you. - I'll enjoy working with you.
Simran, do you have anybody on your cap table yet?
- I have my investors. - You raised 2-3 rounds.
I have raised two rounds.
The first round was raised in November 2021.
And then I raised a round in February 2023.
And that was Rs 12 crores.
At a valuation of Rs 57 crores.
So, I asked for a valuation
- of Rs 70 crores. - That's not an unfair ask.
Not an unfair ask.
What's the margin in business?
Our gross margin is 66 per cent.
What's your spend on marketing currently?
So 66 per cent.
takes up 28 per cent.
What was last month's loss and burn?
So, last month, our loss was Rs 21 lakhs.
And our burn was around Rs 27 lakhs.
- You have the raised capital. - Yes.
Is your sale on credit, cash, through which channel?
So, 45 per cent is through my website.
40 per cent through Amazon.
7 to 8 per cent is Big Basket.
And the rest is a long tail which includes quick commerce.
How do you plan to scale it? Will you go offline or sell online?
We have cracked a national deal.
With Reliance stores.
We have to bring it to a level of CM2 8 to 10 per cent.
So that this can stand till the end.
You have to increase the margin for that.
We have to increase the margin for that.
We have to implement pricing strategies for it.
We have to keep close relationships with e-commerce sites.
You will do it, Simran.
Let's be fair to you and raise your valuation.
So, my offer is at Rs 60 crores.
Rs 70 lakh investment for 1.16 per cent of your company.
Simran, after DDLJ, I wanted to call you Simran.
So, Simran.
You're so smart. The sales are great, what can we add?
Aman, I'm not flattering you but
your knowledge of digital, native brand building
- I don't think anyone... - You're flattering him.
- Flatter him if you want the deal. - Oh!
I was waiting to hear this.
[laughing]
- No, but on a serious note. - I'm a solo founder.
The experience that you guys have, the highs and lows that you've had
even if you're one phone call away, once a quarter,
it's very valuable to me.
I had you. When you said that your premium is not much.
That was the best part.
The day your price started moving
- towards equality. - Yeah.
You will nail it!
Vineeta, you want to do it with me?
Rs 70 lakhs for 1 per cent.
- It's a deal, Vineeta and Aman. - Alright.
[laughing]
She's clear, bro. She wanted Aman.
[music playing]
- Thank you. - You're great.
Thank you. Good job!
Congrats! All the best!
Congratulations!
I couldn't conclude it.
But I'd like to tell you that your
products have significant opportunity.
We are the biggest buyers of cleaning products
especially floor cleaning.
- Yes. - So, I invite you to meet us.
- And we will try to support you. - We will come.
- Thanks, bro. - Thank you.
Means a lot. Thank you.
[music playing]
- The founder is powerful. - Yeah, she's good.
Exceptional founder. She's experienced.
Professional, clarity of thinking,
- understands business grounds. - Humble.
One of the best founders on Shark Tank.
Let's meet the first pitcher of the first season.
Greetings, Sharks. I'm Aditi Bhutia Madan.
I was born and raised in Darjeeling, Himalayas.
People also know me as Momo Mami.
It's Shark Tank India's first season and I'm the opener.
It was impactful.
It inspired hope.
- Your momos are delicious. - Yes.
- Very nice. - Thank you, Sharks.
Your name, Momo Mami,
I loved it.
It was my dream to have a fine dining restaurant or outlet.
Our new dining shop is being opened at Karol Bagh.
And I'm very excited.
After Shark Tank India
my momos were in great demand.
It used to be considered junk food.
It has been adopted as staple food.
Our Sharks, Aman Sir, Vineeta Ma'am,
they supported me and were very happy
that we opened outlets at a high footfall area.
Everyone was recognising my work
and the efforts that I've put in with my venture.
We have more than 40 employees
and mostly females.
We have increased our storage capacity.
We had a storage capacity of 20,000 pieces.
Now, we have an in-house storage capacity of 1.5 lakh pieces.
Apart from our 35 in-house variants,
we added 40 more variants.
Three years ago, when I see myself as an entrepreneur
or even our product or brand, Momo Mami.
There was not much recognition.
But the place I'm at today,
Aditi Madan, Momo Mami and BluePine Foods.
I'd just like to thank Shark Tank India
for bringing the change in me.
- Momo Mama. - Mami.
- And I'm Momo Uncle. - [laughing]
Momos have become a meal.
She is a very good human being.
I'm sure she'll do well.
[camera clicks]
[music playing]
Aman, you must've heard about Crime master Gogo.
He used to pull out eyes
- and play with them. - Play with them.
But we are not here to discuss that.
We're here to discuss something that a man's future depends on.
If it gets kicked, it hurts.
You must've understood who we are and what we're here for.
Whether it's summer, winter, or monsoon, we're always stuck.
Bras were made for women's support years ago.
But who will support our brothers?
Due to the current design of underwears,
It becomes embarassing in public.
Also, women feel very uncomfortable.
Absolutely.
Enough!
We can't stay stuck.
- It's time to break free. - [laughing]
Will you separate it?
[music playing]
- Oh! What a relief! - But how come three?
What's this?
[laughing]
Greetings, Sharks. My name is Ankit.
[music playing]
Along with that, it also provides relief
from discomforts like chaffing, rashes and itching.
We use the Modal fabric
obtained from Beechwood to make our underwear
but antimicrobial too.
We launched this in 2023.
Today, we sell our products through our website
and two marketplaces.
[Sharks laugh]
Sharks, our vision is
to provide comfortable underwear to all the men in the world
so that they can feel comfortable and confident in every situation
and they never have the need to adjust their pants.
I play cricket.
You wear a groin guard while playing the sport.
If an underwear were to offer that kind of support,
you'd feel really comfortable and wouldn't have the need to adjust.
We did extensive research,
but no such product is available in the Indian market.
That was the idea behind it plus we identified a gap.
What did you all do before this?
I'm an electronics and telecommunications engineer.
- From where? - IET DAVV, Indore.
I did a job for a year and then started my own business.
What business were you into?
IT services.
I now work here full-time.
What about you?
I've done engineering too. We're college friends.
After that...
My relatives run a business, they own a fuel station.
It's a fuel pump.
So, I joined them.
After that, we started 2Ballz.
And what about you?
I joined my family business after completing my engineering.
Our family business
is into the trading and procurement of foods.
What do your families say now?
- Comfortable... - Now that you switched businesses.
They're comfortable...
That's because they wear your underwear,
but what do they have to say about your business?
I explained the real problem to them.
- Initially, they didn't take it seriously. - Okay.
Then they seriously felt
that it was a problem and there was a huge gap...
[laughs] Gap!
- Gap... - [Sharks laugh]
And I should carry on with it.
- I... Can I show it to you? - Yes, please show it to us.
Basically, this is our 2Ballz pouch.
When you wear this as regular underwear,
it keeps the testicles and the male organ
separate from the body.
That lowers the temperature of the crotch area
providing relief from sweating, rashes and itching.
Plus, it gives ample support all day long
without constricting them.
Yes.
Did you read up on the science?
Uh, yes.
- You have discussed this with doctors. - Yes.
So, your product is safe to use.
- Yes, sir. - A lot of doctors use it too.
Could you show us the product?
- Yes. - Yes.
You can take it there.
Thank you.
Your designs are really bad.
[tense music playing]
Including the colours and feel.
If you've seen, nowadays...
There was a brand called Bummer that came in Season 1.
Then there are good brands like XYXX also.
We've introduced eight new colours.
Along with that, we are dealing in solids.
Let's talk about your USP.
Don't you think everybody has this design option?
How will you compete in the market?
How will the differentiation stay?
I think the market is big enough for everyone.
Dollar, Dixcy and Jockey were already there.
DaMENSCH, XYXX and Bummer also made a place for themselves.
- You're an innerwear company. - Yes, comfort-oriented.
I mean, such in-your-face branding companies
just do not scale.
So, you kept your USP as your brand name!
And an in-your-face name like 'Ballz' is a big no.
You could have named it Left And Right also.
There were two reasons why we thought of this name for branding.
Firstly, the market was already too crowded.
We needed to keep such a name
that if you hear it once, you can recall the brand.
- And... - It doesn't bring seriousness...
- Yes. - It doesn't lend seriousness to your business.
Who will say, "I wear underwear by 2Ballz"?
You're indirectly telling your customers
not to buy your products.
[tense music playing]
We currently deal in three categories.
The MRP of our briefs is Rs. 699
and that of our trunks is Rs. 799.
The MRP of our boxers is Rs. 849.
I could get Jockey for that price.
Yes, but...
We deal in the premium segment too
and deliver products of good fabric and quality.
If Jockey gives me the same product, I'll buy from them.
Jockey doesn't offer a pouch.
- Not currently, but they might in future. - True.
If the sales increase.
Sir, that's the case with every product.
If you look from that angle, competition exists everywhere.
Let's see if you have your eye on the ball.
Your numbers will tell us
what you're doing...
They've sold only 1,000 units. What numbers?
Just 1,000 units!
When did you start?
In January 2023.
Okay. What were last month's sales?
Our sales in August were Rs. 1.64 lakhs.
I see. What was the growth before that?
Our sales in July were Rs. 1.65 lakhs.
In June, our sales were Rs. 1.8 lakhs.
- You said you owned an IT services company. - Yes.
How much would you make per month?
Rs. 3 to 5 lakhs.
Whoa!
- What was your salary, Ankit? - Rs. 45,000.
Rs. 45,000. What about you?
It was my family business, so I didn't draw a salary...
- You must have made something. - About Rs. 80,000 to 90,000
- would come to me. - That's Rs. 1.5 lakhs.
3.5 lakhs...
- Let me add yours also... Rs. 5 lakhs a month... - Yes.
So, even though you were making good money,
you decided to quit your businesses and start this.
We don't understand what you saw in it.
We didn't quit completely.
We worked there part-time during the initial days.
We incorporated this company in 2019,
the reason being
we wanted to register the design for the pouch.
- So, we incorporated... - Forget about the design.
Tell me something.
Something must have happened for you to suddenly feel
like this business is in trend
and your products would sell like hot cakes!
- That happened to us. - That's why Rs. 5 lakhs...
You said your sales were Rs. 1.5 lakhs. When did it happen?
- How did it happen? - In January...
We launched with a small MAQ in the market.
Within a few days of our launch,
our hero product, the trunks, went out of stock.
Even now it is out of stock.
Do you men think this is solving the problem?
No, there is no such problem.
The majority of the feedback we got had one common point.
People were happy that such a product
would be entering the Indian market.
Let me tell you something.
Instead of 2Ballz,
launch underwear by the name 1Ball, okay?
Many people will give you the feedback
that your product is amazing.
So, will you start that business?
I don't find this business investable right now.
It's too early.
I also don't think you need money right now.
So, I am out, but best of luck.
This is a bad business in my opinion.
That's fine.
- It seems like a gimmicky product. - Okay.
It will not be a serious business ever.
I'm out.
In my opinion, this is obscene and disgusting.
You make one adjustment and feel it's a product-market fit
and your business will do well.
I am out, good luck.
I believe that if the product is good and the price is low,
only then it will sell in India.
You don't seem to have figured out the product-market fit properly.
Please pursue it further and see where the road takes you.
Best wishes to you.
- Thank you. - I'm out.
Let us suppose that your technology works,
then all the brands will have it too within six months.
My suggestion is that you approach them
and if you could sell this to them and make some money, do that.
Building this business with this brand name,
logo and product seems implausible.
I'm out, best of luck.
- Okay. - Okay, thank you.
Come on, prove us wrong. Good luck.
- Thank you. - All the very best.
Good luck.
Look. I also support entrepreneurs a lot, okay?
I like them too,
but guiding them in the right direction is our duty.
When you tell them that no business is wrong,
- then you're wrong. - No.
There's no problem with it.
Innerwear business is a good business. They just can't..
This is not a good business!
Underwear is a good business... I have two underwear brands!
It's a cluttered market.
- That's not the point. - They're confused.
- The problem is... - They started it for television fame, a 100%.
Friends, welcome to Ask The Shark.
Joining us today
is the Co-Founder and CMO of boAt, Mr. Aman Gupta.
- What's up? - Do you like juice? How about some juice, sir?
- Yes, I drink orange juice. - Orange juice.
Sir, the question is related to juice.
It is by Nusrat Jamal from Uttar Pradesh.
- You'll notice there is so much creativity in India. - Yes.
It leaves me surprised.
"There's so much creativity in this country."
- "People have such amazing ideas." - Yes.
If you ask me,
our marketing team loves to try new things.
- I tell them to go ahead. - Yes.
If you try ten things, one or two might work,
but those things will bring unimaginable results.
It's very impactful.
If you look at it, the first AI video
- was done by us. - Yes.
We brought AP Dhillon to India.
We also brought Speed to India.
It gave rise to so much viral content.
Then we did an event with The Quick Style.
We hosted a metaverse concert.
We get really creative when it comes to marketing
We'll see you next time. You stay tuned.