[clanking]
[table screeching]
[music playing]
[music concludes]
[theme music playing]
[theme music concludes]
- Hi, Sharks. - Hello.
In India, even today,
a middle-class family spends their entire life savings
on two things.
The first is a daughter's wedding.
And the second is buying and furnishing their dream home.
This daughter's wedding is done,
so let's focus on making and furnishing a home.
Chokhat is a brand
that makes nature and animal-inspired
as well as aesthetically pleasing apart from being budget-friendly.
but since I'm a product designer by profession,
how could I allow that?
I can proudly say
- The fruit basket is pretty. - Thank you.
that fulfils the smallest of your home furnishing needs.
We want to be a one-stop solution for everything,
from home furnishings to decor.
So, Sharks, I have come to your threshold today
with an ask of Rs. 50 lakhs for 7% of my company.
- Congratulations, Prachi. - Thank you.
Your bangles look lovely. When did you get married?
Today...
Exactly eight months ago. It has been eight months.
You shouldn't have taken such a long pause after "today"!
You had me there for a second.
- Yes, I know. - No.
And lovely brand name. Chokhat!
- Thank you. - It's very distinctive.
- Thank you. - Your tagline is great too.
You have a unique name for every product like Netra and Ananas.
We tried keeping names...
So, it's evident you're extremely passionate about design.
- Thank you. - Please tell us about your journey.
I started this journey in 2018.
I did a job for two years before this.
I graduated in product design.
I had an inherent interest in home decor and this field.
So, I took up internships and jobs in this field.
Where did you work?
My first job was with S&R Exports.
It was an export house in Gurugram.
What work did you handle there?
Similar products,
but we used to design products for companies in the US and UK.
My first job at the export house was as an assistant designer.
I worked there for a year.
I switched to a merchandiser in my second job.
When you're into designing,
they don't let you see the production process.
I worked there as a merchandiser.
There, I learned sales,
what production entails and what coatings are.
And there, I'd work for 15 to 18 hours
and sometimes, work all night too.
That's when it struck me
that if I started something of my own,
I might make more than my current salary.
On 13 September 2018...
It was Ganesh Chaturthi by chance.
I didn't know and it wasn't planned.
I sent an email saying I couldn't come because of an office situation.
Oh, nice.
- Yes. - Wonderful.
Wonderful.
- You've been working on this since 2018. - Yes.
- Have you been doing this alone... - Yes.
Or did you get a co-founder?
No. When I started in 2018,
I worked from home for two years.
I don't have a business background nor did I have any guidance.
I knew I had to keep the liabilities to a minimum
because I had only Rs. 1 lakh which was my two years' savings.
I designed ten products,
caught hold of a craftsman and pleaded with him to do it.
Somehow, I got my products ready by January 2019.
I got a basic website made for Rs. 15,000
and that's how I started selling.
This was the first year.
I did the photoshoot myself.
I was from a design college
where you're taught basic software like Photoshop
and also basic photography.
This is from my initial four years when I was all alone.
- Wow. - Amazing.
I felt awkward initially
because you don't see girls...
At least I haven't, not when I was little or after I grew up.
I still remember.
The first time I went to deliver an order, people were staring at me.
This was during the pandemic. I was crying under the mask.
I felt this was a man's job.
I did it once or twice and then was very confident.
I'd say, "Load the goods."
"Just tell me what to say to the police."
- "Just load them." - [laughs]
From there to here, it has been a remarkable journey.
Solid.
I was all alone for four years.
- You didn't hire anyone for four years. - No one.
Out of four, I worked from home for two years.
After that, I bought an office on sharing-basis
with one of my relatives.
I even ran the ads myself.
Just last month, I handed it over to a marketing agency.
Do you have some products... Have you brought us any gifts?
- Yes, definitely. I'll show them to you. - Fantastic.
- Bring them here. - Gifts! Hurrah.
- That's a cutlery holder. - Wow.
That's a bowl.
We sell the glass bowls separately.
Wow! Lovely.
- I love this. It's beautiful. - A candle holder.
- Thank you. - Very subtle.
- So, animals and nature... - That's a trivet.
Yes, totally.
- What's this? - That's a trivet.
You keep hot pans on it.
And that's a tissue holder.
Oh, thank you. Nice. Looks...
- The quality's good. - Thank you.
- What material is this? - Iron.
The finish is solid.
- Hmm. - The finish is great.
The distinctiveness of your brand
is that everything is nature...
- Animal-inspired, yes. - Animals...
- The designs are the USP. - Animals and birds.
who I've signed NDAs with.
"We will give you the design. You can't give it to anyone else."
- Are you manufacturing these in India? - Yes.
- All of it? - Yes.
Why do you only want to make animals?
What's the reason and story behind that?
Okay. The story is, I started somehow loving the theme.
And I realised
We've made our surroundings boring.
It's all very plain and bland now.
- I'm trying to revive... - That's a great insight.
This... This is something that can bring that...
It's both.
If you look at the market, you'll see two distinct categories.
One is very cheap,
products with really simple designs that are extremely affordable.
The other is, designer products like we call them,
but they come under the luxury price tag.
I bridge this gap
and try and provide affordable luxury.
Getting the first few customers is the toughest part.
It was very tough. When I made the website...
No one visited it for three months.
Yes, it's not magic.
Then I felt...
When I was 23 years...
That 23-year-old girl thought
that India was a country of 150 crore people
and she'd get 3 to 4 orders a day.
I started with that mindset.
When I launched my products, there was no traffic.
Not even two people visited it.
Then I realised I'd have to do marketing and run ads.
- I had no money to run ads. - Did you learn that?
- I learned how to run ads from YouTube. - Wow!
At that time, Rs. 40 per day was the minimum.
- Yes. - Going below that wasn't allowed on Facebook.
I started with that.
That would have been futile.
Rs. 40 would have got you one click.
Eight clicks.
You get only one ad and at least, I...
I thought my products would sell like hot cakes in Delhi and Gurugram
where my target audience is.
But when I ran the ads, over time, I realised my audience wasn't here.
My audience is mainly from Maharashtra and Karnataka.
- More in the South. - And why was that?
- Did you speak to customers and get an insight? - Yes...
From the insight I got, I thought that...
If you consider Delhi-NCR,
people love to show off.
- Plus they have markets like Chandni Chowk. - [laughter]
There are many people from Delhi here.
- Many Delhites. - Be careful.
- Yes, true. - I'm from Delhi myself!
We don't value handmade goods so much.
If you go to the South, they really value handmade goods.
They look for it.
- Prachi, I wish to ask you one thing. - Yes.
- You've been running the business for six years. - Hmm.
It's very difficult.
Tell us about your challenging moments during this period.
The challenging moments were in the initial stage
when I wasn't getting vendors.
I've strengthened my foundation in these six years.
I don't have a big team
but I know that my manufacturing and foundation is strong.
If you go to Muradabad and those places,
- every other person is doing this. - Yes.
You've to carefully choose people. "What if he sells it?"
This happened to me initially when I was...
My first product was the elephant bowl.
The craftsman I gave the order to sold the product to someone else.
My products started getting copied.
That was a shock for me. I would say, the lowest point.
"I haven't made enough money"
"and people have started making copies."
How do you deal with it?
I realised I had to take a practical approach.
The products are bound to be copied even if I get a copyright.
We live in India.
I can't go to every alley and see who's selling copies.
Who did you send legal notices to?
Yes, there's a legal cost too.
I told myself, "This is going to happen."
"I need to focus on the products."
"They can sell what they see here but not what's in my head."
"So, make the distribution strong."
Look, I'm not attached.
I'll sell it for one year and forget about it.
- Prachi, do you even breathe? - [chuckles]
- When do you? - Everyone advised me to speak slowly.
No, I like it.
- You're really articulate. - Thank you.
You speak fast,
- but you're able to express yourself well. - Thank you.
Tell me something. You struggled quite a lot.
Where do you want to take this business?
What is your vision for Chokhat?
I heard Deepinder make a statement
which stuck with me.
It was, "A good brand is one"
"that seamlessly blends into the lives of your customers"
"without them having to put in any effort."
Let's say 5 or 10 years down the line,
Aman and Vineeta are talking.
They have to attend a birthday party for example.
Or a housewarming party.
And they were discussing that they didn't buy a gift.
So, they confidently say,
"We'll buy it from Chokhat on the way."
- "We'll get something nice." - Very good.
I want to hear that and see it become a reality.
- Can we get to the business then? - Yes.
What have you made in six years? What are your numbers?
Okay. When I just started, my first year's sales were zero.
- Nothing at all. - [chuckles]
Because I sold nothing.
In the second year, we clocked Rs. 4.5 lakhs.
After that, we clocked around Rs. 10 lakhs.
The year after that, my sales were only Rs. 11 lakhs.
I wondered what happened because the sales didn't increase.
I'd done something wrong.
Then I realised I needed more products.
I created more designs and introduced more products.
- The following year, we did Rs. 30 lakhs. - Good.
And last year, we did Rs. 55 lakhs.
We formed a private limited company in April
and sales started coming in after June.
In the last ten months, our net sales were Rs. 50 lakhs.
From April to September, we clocked about Rs. 50 lakhs
including October.
- Will you make Rs. 1 crore this year? - Definitely.
It was 8%.
What is the gross margin?
My COGS is 39%.
Then operations comes to about 13%,
which is salaries and others.
Then marketing is 17%.
2% goes to Shopify and Razorpay, 1% each.
And logistics and returns are 11%.
- Including returns? - Yes.
Okay.
Do you sell everything on your website now?
Yes. 100% website.
How many people are in the team?
There's me and two packers, one full-time and one part-time.
That's too few. You haven't made a team in four years.
After four years, I understood I needed a team.
However, there was also this thought.
If I hire someone, be it a help for packing,
I'm aware this is their livelihood.
After ten months, I can't tell them, "I can't pay you, sorry."
I didn't want to do that.
- Like this, you won't be able to hire anyone. - Yes.
No, the time has...
You can't be sure of when you need to hire people or fire them.
Yes, that is something I still need to learn frankly.
Because she was older than me. She was 35 or 36.
She handled operations.
Labels, managing inventory and feeding orders.
Basic work like making POs.
And some people have this mentality that it's just a 9 to 5 job,
but she worked 9 to 3 only!
If the office starts at 10:30 am, she'd come at 11 or 11:30 am.
I gave her multiple warnings to change but she didn't.
And when work started getting affected, I decided it was enough.
- What? - "This might be just a job to you."
- "My business is getting affected..." - How many months did she work?
Eleven months.
Forget about those who're gone.
Tell us who's the next highest paid and what they draw.
I have two employees other than me.
I see you're paying less than minimum wage to a packer.
I understand that I need a good team,
and a good team comes at a cost.
That is one reason I'm here
because I need funds to give them salaries.
Or create a runway for a year
giving them job security and assurance.
So, I know about that.
I'm well aware I currently lack it.
- Prachi, you built a good business in six years. - Thank you.
- Your people management worries me a little. - Okay.
I have no clarity on that front.
How will you make a team and manage it?
- After a level, people management is a big task. - Right.
I have so many employees today.
My company has 10,000 employees directly or indirectly.
Managing people
- is one of the biggest things I'm doing. - I know.
Unfortunately, I'd like to be out of this.
No problem, thank you.
Tell me something, Prachi.
What level do you want to go to in the next 3 to 5 years?
By 2026-27, I see my first store happening.
I've worked out a basic calculation to get to that level.
I'd like to clock Rs. 1 crore sales this year.
- You'll also need to do channel expansion. - Definitely.
List on marketplaces.
I've already done that.
I experimented with Amazon.
The return rates were very high.
I think because the consumers...
I don't know, but I think this was the reason.
They're habituated to using products and sending them back.
- Return it once the purpose is served. - Really!
It didn't work out for me, yes.
People do it.
They buy earrings. After attending the function, return them.
We started selling on Myntra also just this year in March.
They have this thing on Myntra where
if I sold this basket,
I got some other product as a return.
That was not okay with me.
I sold all the inventory and told them, "This is my problem."
"The returns are very high. I cannot accept it."
"Either list my product under the non-returnable category"
"or work on a return policy."
They have agreed to that now.
We'll go live on Myntra again.
See, your problem is your gross margin.
Your gross margin for a premium,
as you like to call it "affordable luxury" in home decor...
Apart from shipping,
it's impossible to run a business on a gross margin of 61%.
Okay.
- Because you want to build a brand. - Right.
And you'll need to invest in order to build a brand.
If you make your customer the enemy by saying,
"The customer is trying the product and returning it."
"The customer is cheating."
Then you'll never become a household name
- because the customer is after all the customer. - That's right.
Brands need to evolve to suit the customers.
So, in your gross margin,
you'll need to work out
the costs of the team, returns,
customer service as well as marketing.
- Otherwise, you'd have made a trading business... - Right.
- Not a brand business. - Okay.
At this moment,
your dream and execution are not matching.
For that reason, I'm out.
Okay, thank you.
Prachi, every founder has a superpower.
- I know what Aman's is, right? - [chuckles]
- Everyone sitting here has some or the other superpower. - Right.
- Clearly, yours is design. - Right.
But the business is in the early stages right now.
Okay.
The journey from selling a product
- to building a brand... - Hmm.
There's a big gap there
and a long way to go.
- So, you'll have to start selling on marketplaces. - Okay.
- Only then your reach will widen. - Right.
- But for all these reasons, Prachi, today, I'm out. - No problem.
Thank you.
Who is your competition in this category?
Who's the number one brand?
I think there's a lot of competition in this field
because it's a very common category. If I were to take a few names,
one was on Shark Tank, Nestroots.
There are a lot of brands
- which I look up to. - How big would the biggest business be?
If I talk about the market size,
as far as I've read about it,
In the category of home furnishing and decor,
- there are no dedicated brands. - Vari is about Rs. 50 crores.
- Vari? - Yes.
- What do they do? - Nestasia too.
- Okay. - Nestasia is bigger.
- Nestasia is pretty big. Yes. - Rs. 100 crores.
Is there a saturation in this business, Vineeta,
at around Rs. 50 to 100 crores as per you?
Until now, a Rs. 1,000-crore home decor brand...
Even the Nicobar's of the world are in it.
The Bombay Store.
They do clothing as well.
Because of the fact that just home decor has a cap.
How do you plan on growing this?
Categories!
We can't stick to just a few categories.
Like I said, whatever the requirement in your home,
I want that...
For example, if you visit an Ikea store,
they have everything.
Do you want to be another Ikea or home furnishing?
I want to build an Ikea
but with everything that might be required inside the house.
Be it a carpet, furniture or lamps.
We will have to gradually explore category-wise
what is and what isn't working for me.
Anupam, your decision.
I like your learning agility
although you've taken a long time.
You're quite self-aware.
Thank you.
I personally like this category.
I think, as you said,
the market is set to grow in the next few years.
- Right. - A few brands will make it big.
I don't quite find some of the choices you made to be right.
Me neither.
[all laugh]
- And that is your strength. - There you have it.
That is your superpower, right? Your self-awareness.
And you need some help, right?
I'll make you an offer.
[triumphant music playing]
- I won't negotiate much. - Okay.
- Rs. 50 lakhs for 10% equity. - Okay.
But I will take a royalty of 3% on sales, right.
- 3% of your sales. - Okay.
Until I make 1.5 times my money.
What's your view on this offer?
I'll think and let you know.
Tell me now.
- Don't tell him. He's... - Okay.
- He's trying to understand what he should offer you. - Yes, exactly.
- You do what... - I was thinking of collaborating with you.
Why do you always think negatively?
[both laugh]
The problem is the pay scale,
a lot to learn... It'll take ten years,
but I am also willing to partner with you.
Thank you.
I think it'll take time, but you'll build something.
Thank you.
First, tell me if you want royalty or not.
No, I don't think so.
- I would not like to go ahead with royalty. - Good decision.
- I'll give you Rs. 25 lakhs for 10% equity. - Okay.
- And Rs. 25 lakhs debt... - Okay.
- When you need working capital. - Right.
- I want a 10% interest on the debt component, right? - Okay.
When you need it, you can draw down.
When you don't need it, you can give it back.
Let's set the tenure to draw down as 1 year
[tense music playing]
What have you decided?
I won't negotiate a lot but I have a counter offer.
Oh, you won't... [laughs]
I love it!
Okay, what is the counter offer?
I want both of you to come on board.
So...
[gripping music playing]
The counter is Rs. 30 lakhs for 10% equity
and Rs. 20 lakhs debt at 10% interest as you said.
Because both your superpowers will be needed to build this brand.
[gripping music playing]
It's a good offer.
- I think you've been fair. - Yes.
- I think... - I'm okay with this
if Anupam is okay with this.
- Let's do it. - Let's do it.
Thank you.
'Their superpower is my weak point.'
So, I think it's a good combination.
My designs
with their distribution and tech.
That combined, we can build a big company for sure.
[solemn music playing]
Hello, Prachi. How are you?
- I'm well. How are you? - Good.
- Great! Welcome to our PokerBaazi zone. - Thank you.
- How did it go inside? - Fantastic. It was great.
It was my first time with investors and I loved it.
Wow! That's great. You had a good experience.
You need to keep analysing your business
and sharpening your skills.
- I want to play a game with you. - Okay.
Based on their strength, Poker hands are ranked in a particular order.
The sequence is displayed here.
They are called hand rankings.
The top hand is Royal Flush
and the lowest winning hand is High Card.
- Today's hands in focus are these five. - Okay.
Every business has a couple of important functions.
Very nice.
- Three of a kind. - Then...
Then comes marketing.
- Interesting. - We'll go series-wise.
- After marketing, we have sales. - Hmm.
Then I think I'll go with logistics. Operations and logistics.
- Wow! At High Card. - Yes.
- Very interesting. Product at Three of a kind. - Right.
- And operations and logistics at High Card. - Yes.
Explain your winning strategy.
A product is something without which no business can start.
Be it the service business or any other,
you have to have a product.
And logistics because I'm in a product business
- in which logistics plays a major role. - Hmm.
It is hosted on PokerBaazi
- with a total prize pool of Rs 100 crores. - Sure.
You too download the PokerBaazi app,
use your strategies to make a winning hand.
Go and download the PokerBaazi app now.
I know you very well.
You want to give real-time feedback during cricket.
"This shot should have been played like that."
"He should have taken that shot."
"Sharks should have invested in this business instead of that."
If you have it in you, then do it in real time!
[music playing]
Wow! Coffee early in the morning.
- I don't mind, good. - Zenma.
I wish I'd known we were getting coffee.
- What is it? Oh, coffee! - Yes.
- Looks nice. - Had they told us, we wouldn't have had coffee.
[theme music playing]
[theme music concludes]
Sharks, it's quite evident that you love your coffee.
But there's no way one can make such high-quality coffee at home.
I'm sure you spent Rs. 250-300
and ordered it from a coffee shop, right?
What good is that instant mediocre coffee made at home?
If you want cafe-like coffee,
then you have to get one of those expensive coffee machines.
But if I told you
that we've come up with a revolutionary product
that will completely change your coffee-drinking experience,
would you,
in exchange for 3.5% equity,
give us an investment of Rs. 60 lakhs?
Nice.
Sharks, you have milk and water with you as per your preferences
along with a Medium Zenma shot.
All you need to do is peel, melt and pour.
Generally, they're frozen.
- We pre-melted them for you. - Got it.
If you want it hot,
you merely need to pour hot espresso into it.
And iced?
If you want to have iced, pour it on ice cubes.
[light-hearted music playing]
While you enjoy your coffee,
I want to ask you all a question.
What's the most important thing in a coffee shop?
A good-looking barista.
No! A good espresso machine
and the barista's skills.
And it's those very barista's skills
that we've essentially captured in our espresso pods.
Sharks, do you know
- that 80% of the coffee consumption in India is done at home? - No way.
And we've made this easier and tastier for home consumption.
Zenma Frozen Espresso Shots
can be stored in your freezer for up to a year.
They don't contain any preservatives or additives.
We currently have four variants.
We've sold over 70,000 shots in the last 12 months
Our mission is to see Zenma in every freezer in India
which is possible with your expertise and investment.
Aman, did you get a kick?
Karan! Sheena! Welcome to Shark Tank.
- Thank you. - Thank you.
- The coffee is good, bro. - It's yum.
The coffee is great and I wish to say one more thing.
I have your coffee every day.
Wow!
Actually, it's very good.
- Yes, it's very nice. - Very good.
I think I can feel the depth because this is Medium Roast.
- Thank you. - I have a problem.
I said in the last season
that I drink the Nescafé coffee which comes in a pouch.
- I find it the best. - Okay.
- After that, this is my next favourite. - Thank you.
We were unsure about you.
[all laugh]
The coffee is good,
but the Nespresso shots have a very distinct taste.
- It blends with water... - Blends...
- And the cream that forms inside, it has... - Crema.
That's a great point.
In Nespresso pods, you seal ground coffee
whereas we flash-freeze the coffee in Zenma pods.
Which means it's frozen to very low temperatures
so that its aroma and flavour stay locked in.
The layer of crema is basically gas.
If you froth this with steam,
you'll see a layer of crema too.
No, who'll go through the trouble?
Generally speaking, that doesn't happen.
This is a convenience product.
- So, it's not replacing machine coffee. - Correct.
This is replacing instant coffee.
Let's hear it from them.
- Tell us your story first. - Sure.
We're both from Delhi.
- Where? - Heinz, the ketchup company.
[all laugh]
I saved up some money then.
I was always intrigued by coffee.
- In North India, mostly everybody drinks instant coffee. - Right.
Instant coffee is made by first grinding the beans
and then, dehydrating it and converting it into a powder form.
That takes away the aroma, complex flavours
and any complexities.
Does it contain preservatives?
If you get a smell, know it is added.
All of them have a smell.
They shouldn't because it is dehydrated coffee.
But the taste is not the same.
I'd visit a coffee shop every day and spend Rs. 250 to 300.
So, I wanted to learn that.
So, I saved up, went to Rome and underwent a barista course.
- No way! - Wow.
- Yes. - Wow!
After going there, I realised
that people hold Indian coffee in such high regard
whereas we drink low-quality instant coffee at home.
When I came back, I realised there was a gap.
So, we set up a coffee kiosk in the same building.
This was back in 2019.
Same building as in?
- Where you lived? - Where I used to work.
So, you set up a shop in your office building
- while you were working. - Yes.
After I quit.
- Okay, after you quit. - Yeah!
- As Zenma? - No! It was Sixteen Grams.
- Okay! - Karan was in college back then and he joined me then.
And that's when we started our first coffee shop.
We also started the second coffee shop that very year.
But due to COVID, we had to shut down both the coffee shops.
Because ours was a bootstrapped business.
To survive the brand, we shifted that business online
and we were selling beans and ground coffee.
As the impact of COVID lessened, we gathered a lot of feedback.
People have stopped using their machines
because it is too much effort.
We were unable to explain to the new customers
that they had to dissolve it, buy a machine, and then buy the coffee.
After getting the feedback, we realised
that fresh coffee might not grow right now in India.
So, how do we get that espresso coffee at home?
Because India's palate is evolving due to coffee shops.
75% of people drink coffee with milk.
Cappuccino, Latte
and even Americano, which is an espresso.
How will you bring that espresso home?
Even if we make a convenient machine, that is also a problem.
- No one will pay Rs. 15,000 for a machine. - It's a barrier.
So, when did we start Zenma?
September 2023 is when we launched the product.
Cometeer is a brand in the US.
They are not freezing espresso, they are just making a concentrate.
That is where we started testing.
Your recipe is different, but the form factor is the same.
The form factor is the same.
How is that company doing?
They've raised 120 million dollars.
I think their revenue has crossed 100 million dollars.
But their management was fired six months ago.
Why? Because they couldn't make money or...
You had to purchase a subscription.
- All right! - You had to buy 5-6 boxes.
That is when you could consume their coffee.
It has many variants,
which I believe became difficult to explain to the customer.
It can't be that. Karan, I disagree.
There is a coffee machine in every household in the US.
That's why the CAC to LTV ratio didn't align there.
We would like to get into quick commerce.
Here, your competition is instant coffee.
The palate of people is evolving.
There are so many coffee shops opening up.
If you visit coffee shops, you'll see that cold coffee sells the most,
which is not really coffee.
- It has a lot of sugar. - It's a dessert.
The Indian market,
as you say, is 80% home consumption.
- But probably 99% of that 80% is instant coffee. - Absolutely!
How will you create this market?
The base of coffee shops is espresso.
And nobody has gotten espresso conveniently to anybody's home yet.
In our country, we are evolving
- from traditional coffee to proper coffee. - Correct.
And you are...
It gets difficult to pronounce.
At home...
Honestly, if you hadn't told me what you were selling,
- I would've assumed it's cream. - Ice cream brand.
Zenma's adoption is easy because it's a convenient product.
But the point is very valid, Sheena.
What have you mentioned 'frozen crema'?
- Your process is frozen crema, right? - Hmm!
That is very different from what the consumer perceives.
I was also confused.
If it's 'frozen' should I have it with ice and not hot water?
- So... - Why are you making your process your positioning?
That's good feedback. We will consider it.
- Espresso! You should just write Zenma Espresso Shots. - Yeah!
- Frozen Espresso. - Yeah!
- Get rid of 'frozen'. - Yes! Espresso shots!
- Fair! - You guys are smart.
Didn't you consider this earlier,
or were you waiting for Anupam's feedback?
We went with 'Frozen crema'
because the top layer on espresso, as Peyush mentioned,
is called 'crema'.
- So, Zenma... - But not everyone knows that.
- That's... - It raises curiosity, they might ask us questions.
- On events... - It can raise curiosity and confusion.
People came up to ask us.
We had to explain how we came up with the name Zenma.
Because Zenma is also derived
from 'Zen' in frozen and 'Ma' from Crema.
- Say it as it is, why beat around the bush? - Zenma!
- The first time... - Just be direct.
Karan, can you show us the packaging?
Yes!
[music playing]
- It will spoil by the time we take it to Delhi. - Thank you!
- We will ship frozen coffee to you. - Take this.
Oh, this has to be stored in a refrigerator.
- Freezer! - Freezer.
- I didn't realise that. - You are slow.
It has 'frozen crema'. The story is over...
Despite drinking so much coffee, you are not awake.
The story is over and he is asking whose son Karan is.
Your normal consumer will be like me.
- They've evolved a lot. - Not true.
- We will face this problem. - You were sleeping.
You can microwave it for 30 to 40 seconds
and you will get a melted pod and you can mix it with milk or water
- and make any coffee. - Won't the microwave emit radiation?
That is the microwave's issue, what can they do?
[laughing]
If the power goes out and the freezer stops, this will spoil.
If the temperature of the refrigerator is 3-4 degrees,
add hot water, and drink it at work.
Even if they take it as it is, it will melt as they reach.
The barrier I see in your category
is logistics and storage.
The quick commerce ecosystem in India
is not yet guaranteed to maintain the same temperature.
You know that ice cream will melt.
- People are not that conscious. But in this... - Good point.
- Suppose I went to a grocery shop. - Yeah.
This will be in the freezer.
By the time I go home, there are chances of this getting spoilt.
How do you ensure that this is always in the best shape?
The challenge of the frozen supply chain
is more difficult for small brands.
But once you scale up, your supply chain builds up.
I will call this a challenge and not a barrier.
The challenge is that we won't be able to deliver in every small city.
But we believe that our market is tier 1 cities
where the number of coffee shops is growing.
Currently, we store in every central warehouse
and then it caters to the entire city.
- Total market size? - Rs. 9,000 crores.
How big is at-home coffee?
Rs. 6,000 crores is instant coffee.
One shot costs Rs. 60.
How much does one cup of Bru and Nescafé's coffee cost?
Nescafé Gold will cost you Rs. 18.
Davidoff will cost around Rs. 22.
And this is for Rs. 50.
This is for Rs. 60.
I think, if we look at 7 years,
- people have been investing in many coffee shops. - A lot!
I refuse to believe that we'll drink the coffee with the same taste...
I think the problem is this.
The market that buys this product at this price point
can afford a coffee machine with a pod for Rs. 15,000.
And the instant coffee market that's for Rs. 2,000 crores,
that costs us Rs. 20 per cup.
So, somewhere there is a gap.
You can't replace this.
It applied to me too. For example, I am an avid coffee drinker.
And I use the Nespresso machine.
Will I use this?
As a novelty, most certainly.
But as a habit, very doubtful.
But I feel the majority still thinks twice
before buying a machine worth Rs. 15,000.
Buddy, I don't agree with you.
Look, you are talking about Rs. 15,000
as if it's a huge sum.
The machine now costs around Rs. 6,000.
People don't think that these things are expensive.
If they are value-conscious, then they will use instant coffee.
Because it costs around Rs. 20.
But here, we are entering no man's land.
We've heard from a lot of our customers
who've moved from Nespresso to Zenma.
Why? Because they get a single shot from Nespresso.
And they want some strength from caffeine coffee.
But that is not your proposition.
- Your proposition is frozen coffee at your convenience. - Right!
That's the disconnect I am having.
Tell us the numbers.
In the last FY, our revenue was Rs. 5 lakhs,
- from September to March. - That's the partial year.
In April, it was Rs. 1.5 lakhs.
- And then, in May, our revenue was around Rs. 3.5 lakhs. - Good.
This is only D2C.
We were speaking with a tea chain for B2B.
That's fine. Let's get to September. How much was it?
In September, our revenue was Rs. 8 lakhs.
How much B2B and how much...
- 2% is B2B, 10% is quick commerce. - Quick commerce.
And 88% is D2C.
What is the unit economics?
- Our box retails for Rs. 599. - Okay!
Rs. 91 is the tax.
Rs. 56 is a discount per box.
We have around Rs. 450.
- We sold it for Rs. 452. - Okay!
In September, one box was for Rs. 275.
- Cost of Goods sold, Rs. 275. - COGS.
- Rs. 66 was our shipping. - Okay!
- And roughly a transaction charge of Rs. 12. - And marketing?
Around Rs. 4.5 lakhs. So, roughly 50%.
- 50%. - Percent of the net revenue.
Tell me about the unit economics.
Rs. 99 for the box.
- Approximately Rs. 200. Let me tell you! - Rs. 200.
Rs. 200 for marketing.
- You are losing money behind every box. - Right!
Let's finish unit economics first.
Are you trying to solve a problem that does not exist?
Because Aman likes what he is drinking.
We like what we are drinking.
For those who are exposed to coffee shops
and keep frequenting them, this is a problem for them.
He frequents the coffee shop because he likes to do so.
Nowadays, coffee shops like
abCoffee and SLAY charge Rs. 80 for a coffee.
But they want to drink it at home too.
80% of people are consuming coffee at home.
- But is this a problem at home? - It's evolving.
- That is what we think. - Okay, I think
- there is a disagreement. - This is something to think about.
Hold on! Your cash that you invested in Sixteen Grams
and Zenma, is it your savings?
- We raised a funding in June. - Wow!
- How much? - Rs. 1.25 crores for 15%.
- Who did you raise it from? - 100X.
And the full investment for Sixteen Gram was your own.
- Roughly Rs. 13 lakhs in CapEx had to be invested. - Rs. 13 lakhs.
And Rs. 8 lakhs for marketing and branding.
Accumulated loss is Rs. 51 lakhs.
Does your family have the capacity to invest so much?
We have investors now and not family.
- There is no... - The investor invested only Rs. 1 crore.
That will be exhausted within 10 months.
About the Rs. 10 lakhs burn,
we've already reduced it in October to Rs. 5-Rs.6 lakhs.
And the Rs. 50 lakhs write-off you took,
was it from your parents or your own savings?
Write-Off! A write-off happens when you make an investment
that doesn't yield any benefit.
As the term suggests, 'write-off'
means to completely nullify its value.
So, whatever investment you made is now considered to have zero value.
This is called writing off your investment.
- I took from my parents... - I used some of my savings.
Do they have no issue?
Our parents are very supportive,
but eventually, they want the business to work.
We were bothered...
Do they have equity?
- They don't have equity in Zenma. - Okay!
Karan and Sheena, you are catering to a market
that you don't know is a market or not.
The consumer is very small.
A lot of people are after it.
I don't know which brand will survive and which won't.
So, as an investor, I think it's very risky for me.
But as a consumer, I will be your consumer.
Thank you! Unfortunately, I am out.
- Thank you, Aman. - Thank you.
You are persistent and your branding is good.
You've done a course in coffee, which gives you an edge.
The issue is that you need to have a better strategy.
You have to know your consumer. Why do people drink coffee
and what problem are you solving?
The biggest USP is speed.
Right! You can actually open a kiosk model that you had started.
Where a cup of Rs. 100 can be given to you in 2 minutes.
Do you know how Nespresso grew?
Because they have these fancy stores where they do trials.
When you go to luxury hotels,
there are coffee machines which people don't know how to use.
I sincerely think
you should understand what your USP is.
If you unlock that, you will be able to make this big.
Currently, I am out.
Because I think you need to figure that out. Best of luck.
Thank you, Peyush.
In my experience, if
someone is spending more than 15-20% on performance marketing
before reaching Rs. 1 crore per month,
it indicates a product-market fit issue.
Clearly, a very specific niche has emerged in between.
My suggestion is
to run this as a slow-burn, niche, profitable business
that can grow
to Rs. 100 crores over time, which is a great business.
But don't get on the investor-driven treadmill of pressure.
As an investor, it is not investable now.
For that reason, I am out.
- Thank you! - Thank you, Vineeta.
Look, what I love is that you found innovation
in a market that's so competitive.
Something that gave you an entry point.
But I think that is the extent of it.
You fell in love with innovation.
So, even the way you've positioned it, 'frozen crema'
doesn't put consumer thinking first.
I don't think this will work in India.
I can see that from your cost structure.
I am out today. Good luck!
- Thank you, Anupam. - Thank you, Anupam.
Karan and Sheena, I generally use this phrase.
Laughably small TAM.
Investors ask for a big TAM.
Rs. 10,000 crores! Rs. 1 lakh crores.
I see it completely differently.
Whether this is just a tiny sliver of the market.
Because if you dominate a tiny sliver
then the customer gives you the opportunity
- to expand into more categories. - Yeah!
This is a laughably small TAM.
However, the customer love is not strong.
I believe you should explore the B2B angle.
There are restaurants and hotels
that serve bad coffee from machines,
but they also don't want to invest in an expensive
barista, machine, etc.
- This could be a middle path for them. - Hmm!
You haven't given that a try, I can't take a bet on it.
But for these reasons, today I am out.
- Thank you, Karan and Sheena. You guys were amazing. - Thanks.
- This is a format creation. - Correct!
It has a form factor.
In an existing category that is contemporary and growing rapidly.
As a normal Indian consumer, it will take time to understand.
If not for their pitch, I wouldn't know about 'frozen crema'.
I think it's a category.
I didn't really know what they were making.
When instant coffee was introduced,
it took time for people to understand it.
Without it, they would have been drinking something else.
So, as the frozen category is gradually adopted
and understood, all challenges will be addressed.
- Hello, Sheena! Hello, Karan! - Hi!
How was your experience pitching your business?
It was interesting. It would have been better if we had closed a deal.
That's fine. You'll make the money. It's fine.
We are from Delhi NCR. We'll do well.
Even when we have less, we pretend to have more.
- That's true. - It's fine.
I go blank.
Didn't you feel like taking a sip of coffee during the pitch?
- 'I want my Zenma break!' - Yeah!
- You did? - We felt so after the pitch.
Pitch...
No, you will have it.
I was thinking of ordering something to have with coffee.
So, I opened Swiggy Instamart.
And I've ordered croissants,
cookies and rusk. And look, they delivered it in 10 minutes.
- Thank you so much! This is for you. - Thank you!
- Yes! Do you prefer some snacks with coffee? - Biscuits.
Biscuits! Okay. I'll order that from Swiggy Instamart.
- It will be here in 10 minutes. - Perfect.
It's not just us who will keep ordering; you can order too.
It will be delivered in 10 minutes. Order now. Now!
Order! I am right here.
Seriously! What's with the typo?
That will be my first question.
It's not a typo. It's deliberate.
How can you have a brand name...
There will be a discussion on the logo and brand.
Elevated Infant?
[music playing]
Hi!
Wow! She looks busy.
Hey, she is back on the mobile phone.
Where can I purchase high-quality, expensive toys on a weekly basis?
Also, we don't have storage space left.
So, I gave her the mobile phone. Do you have any other solution?
Sharks, does this happen to you?
It does!
All of us know how quickly children get bored.
One of our surveys found
that a child loses interest in a toy within 16 days.
My daughter gets bored in 4 days.
Have you come up with a way
to give your children new toys every week
without cluttering your home,
emptying the wallet or leaving the house?
EleFant is India's first mobile app-based toy library.
Where you can become a member
and buy toys and books for your children.
And when they are done with it,
you can return it in exchange for something else.
This is a modern-day toy and book library,
where you get more than 600 options from more than 70 top brands.
All our toys are expert-curated,
top-quality, and completely safe.
We operate through 68 library centres
in more than 17 cities in India.
We deliver the toys to customers in a day.
We want to bring this solution to every home in India.
For this, our ask is Rs. 60 lakhs for 1% equity.
[music playing]
So, Sharks! Would you like to join The EleFant
and make parents and children happy?
[laughing]
All right, guys! Sourabh and Shristi,
welcome to Shark Tank India Season 4.
- Thank you! - Before I say something
and Vineeta interrupts me.
[laughing]
I will ask you this for her sake because she is growing impatient.
What's with the F word?
I don't know!
This comes from 'Elementary' and 'Infant'.
Toys are a part of a child's life from infancy to elementary school.
That's why it's The EleFant!
The elephant is the most intelligent and humble animal.
Children love elephants.
Even parents love elephants.
Where are the Sharks on the intelligence scale?
[laughing]
Are you a family?
You didn't share that, but I am assuming.
Yes! Ira is not our daughter.
Ira is our best friend's daughter.
Our daughter Ahana is 3.
- If she were here, you would be here and she would be there. - Oh!
- And how old is Ira? - Ira is 6.
How did you come up with this idea?
I mean, sharing exists in every segment this is no different.
But how did you start it?
Our daughter Ahana is the reason why we started this.
We always wanted to be good parents.
I mean like any other parent nowadays.
We read a lot of parenting books.
We got to learn one thing from them.
Children want change to ensure their learning and development.
In the initial years, toys are the best way for children to learn.
At that time, Sourabh was working at Chai Point.
So, he used to be in Bengaluru for half of the month.
Therefore, whenever he used to return, he used to get lots of toys.
But one day what Shristi did was she threw a toy at me in anger
and asked, 'Where do I keep this?'
I made a new wardrobe in two days.
I said, 'This is where we will store things.'
Shristi came to me with a calculator
and said, 'You are a chartered accountant, right?'
'Let me teach you math.'
We live in Kandivali, Mumbai.
She said you blocked around 60 sq ft.
Multiply this by Rs. 40,000.
That is the value of this space that you've encroached.
I am a Marwari Jain.
We realised what was happening.
My daughter is not using them. You get disappointed.
We didn't intend to open a toy library.
As you rightly said, Anupam.
This model exists and these hacks are available in our community.
So, we decided to enrol.
We visited a toy library.
She said, 'Come on Tuesday between 10 am to 5 pm,'
'and we will exchange the toy.'
I said, 'I am a working man, I can't do that.'
So, that got cancelled.
Then we found someone who said they deal on WhatsApp.
I thought that was good.
They sent 200 images at once and asked me to select them.
I texted them around 3 am.
'Ma'am, give me any three available out of these six.'
She replied the next morning,
'Sir, you can't message at 2 am.'
I said, 'I am really sorry.'
And then she said, 'These toys are not available currently,'
'I'll send you a list again. Let me know in half an hour.'
That was the tipping point.
Because I was a Supply Chain Director
who delivered fresh milk every morning at 8000 locations.
And you are telling him that there is no solution
where I can order toys at my convenience
and send them back at my convenience.
So, we did a survey.
Almost 1,000 parents in 10 cities.
hardly anyone knew.
And those who were aware faced similar issues as us.
Convenience, quality and home delivery.
that you were a CA and involved in the supply chain.
Could you elaborate on that?
I am a Chartered Accountant, passed out in 2010.
I was in EY for four years.
In 2014, I started a company with my partner, Protune Consulting.
I am a namesake Director.
But my partner handles everything. I am completely out.
In 2020, I joined Chai Point as a Supply Chain Director
with a clear vision to both
establish and manage their processes.
I came up with this idea in 2022.
I spoke to the founders and this is what I am parallelly working on.
You can't be on two boats.
So, we took a call and that's where the EleFant came in.
Shristi, what is your background?
I am a company secretary and a lawyer.
Oh! Both!
Oh my! Your governance and compliance must be solid.
[laughing]
So, right now, I am
working as a Company Secretary and Chief Compliance Officer
at Ashv Finance, which is an NBFC.
During the weekends
I work for The EleFant.
I am a Director in the company but non-executive.
How does this model work and what is the scale?
- Can I give you the app demo? - Sure.
This is what our app looks like.
We have neatly categorised everything
for parents to choose
the category of toys that they want to give their child.
You can click on any product
and see the images and details.
What skills it provides your child and details of the product
along with certain other recommended products.
You can 'add to bag'.
We have two plans.
Ultimate Playtime Plan which is a 12-month plan.
What is the scale of the business?
As of today, we deliver toys to more than 2,000 subscribers.
You can call it our backend centres.
They are our librarians.
In a way, we are making an impact on women entrepreneurs.
Educated women who have prioritised their families over their careers.
We make them the librarians.
- At their home? - There are toy stores in their homes.
They become our pseudo-investors also.
They handle the entire backend operation.
The next day, our delivery partner will collect the toy
from their house and hand it over to the customer.
The returned toys will be handed to the librarian in the evening.
The librarian will check the toys, clean and sanitise the toys
and keep them back.
- Like this? - Yes!
They are placed at homes in racks.
They do all the investment.
How do you tackle this?
We uniquely pack the toy in a box every single time
and gift wrap it
so that whenever the child opens it, they can experience the unboxing.
- We know that children enjoy unboxing. - Nice!
Beyond that, they are fine if there are scratches.
What is the cash rotation in this business?
Ours is a library model.
Currently, we've invested Rs. 7.54 lakhs.
Where the library gets 600 toys
worth the value of approximately Rs. 6 lakhs.
Rs. 50,000 is their setup cost.
Around Rs. 1.25 lakhs is our franchisee fee
for joining the brand.
- Rs. 6 lakhs at retail price? Just to clarify. - That's right.
In Rs. 7.5 lakhs, our current margin on the gross level is about 52%.
So, we give them Rs. 25,000 risk-free income.
Whether they get the order or not, we guarantee them Rs. 25,000
IRR, or Internal Rate of Return,
is a financial metric
that helps standardize and compare
returns across different types of investments.
Here's a simple example,
if you invest Rs. 1 lakh
and receive Rs. 30,000 back over two years,
meaning Rs. 1.3 lakhs.
Then your IRR
is approximately 15% per year.
You are giving them Rs. 25,000
- and they've invested Rs. 7 lakhs, right? - Correct! Rs. 7.5 lakhs.
They will recover the money in 3 years.
If we only consider the fixed and variable payback,
- the money will be recovered in about 18-19 months. - Two years.
How? There are ongoing expenses as well, there's also the Opex.
It's being run from home, there's no extra infrastructure.
- But you are assuming there is no opportunity cost for it. - Yes.
you're giving them Rs. 25. How much are you earning?
Our price is Rs. 10,000.
With the offer, we are selling for Rs. 8,400.
- Okay! - 18% is GST.
So, our cost is almost Rs. 7,150.
After that, our three major costs
are the library variable fee, Rs. 25,
Rs. 20 is our packaging,
and Rs. 52 is our logistics.
The total cost is Rs. 97.
Let's say Rs. 100.
Then you have
It’s a bit different.
our profit is 53% after removing the logistic cost.
Till March, we were bootstrapped.
- Shristi and I funded around Rs. 1.25 crores. - Wow!
- Wow! - And then we have raised a round of about Rs. 5.5 crores.
Well done! How much?
Venture Catalysts and Malpani Ventures.
Dr. Aniruddha Malpani is our lead investor.
- Okay! - Manipal Group, Dr. Sudhakar Pai.
- Amazing! Then we have IVY Growth. - What was the valuation?
This was Rs. 26 crores post-money.
What has the trajectory been like in the last one year?
In March, we had 545 users.
In July, we had 995 users.
By the end of September, we had 2007 users.
How many subscribers and centres
do you think it will take for this business to break even?
to cover logistics and other costs in order to break even.
Currently, we have 33 subscribers per library.
They are dreaming of materialising it
because no one has seen the third year.
Correct! Out of Rs. 7.5 lakhs,
we gave them products worth Rs. 6 lakhs.
Even if they sell these products at a 50% discount,
they will not incur a loss.
The maximum loss they could face
would be around Rs. 50,000 to Rs. 1 lakh.
They are taking that much risk in the business.
Before Sugar,
I started a subscription business called FAB BAG.
Beyond 20,000 subscribers,
the model becomes complex,
especially because you take an advance payment
for the entire year.
So, India has a specific resistance
to advance payments and scaling.
So it's easy to get early users.
Secondly, there are 50 toys here.
If I have to keep 600 toys in my house,
we're not even factoring
in the space rent cost, like Shristi said.
Rs 25,000 is the ROI of their investment.
The third issue is that not many people
want to buy new toys
for their children every week.
So, it is not investible right now. I am out.
You told me about the franchise.
The payback for those toys will take two years.
Will they use the same toys for two years?
They have a life of three years.
But more toys will be required.
the money will return in 18 months.
But that's not the reality. Right?
You've earned Rs 3 lakhs from those Rs 6 lakhs.
But the franchise is doomed in this model.
You will get him to do it.
But once he takes a loan, it will be a lifelong problem.
That is the problem in your business.
These toys are bound to be refreshed
and ruined. In a non-ownership model,
nobody cares about that product.
If I can answer you,
we will take Rs 1 lakh towards the end of the year.
In exchange for that, they get 10 per cent extra.
So, Rs 25,000 becomes Rs 27,500.
So, in this way, their overall return after three years
becomes Rs 9.93 lakhs, purely on fixed.
which means you've not considered that place's opportunity cost.
That is a wrong assumption, to begin with.
Neither will they have any overheads.
You're running the franchise on the borderline.
But considering your burn of Rs 54 lakhs,
you may not be able
to even out your liability of Rs 25,000.
That franchise will shut down in that case, as well.
Please think about the franchise,
and their money like your own money.
Secondly, think of a simpler model like a Cashify model
because your logistic cost in this business right now
is more than the cost of the toy.
This problem in India has been solved
multiple times by buying and selling second-hand things
in a managed second-hand marketplace,
where you can ensure the quality of the toys.
That is my feedback. I am out of this for now.
Fundamentally,
this is not a value-for-money proposition for the customer.
I find it expensive.
On the other hand, there is a big question mark
for librarians.
It has not been long enough to factually figure out
what will happen in the future.
But generally, we've seen this in business.
- Whatever can go wrong usually goes wrong. - It will go wrong.
Right? You don't have a buffer for that
because your revenue is almost as much as the loss.
The money will be over in ten months,
if not sooner.
- So, I am out today. - Sure.
But I wish you all the best. Thank you, guys.
- Thank you. - All the best.
Sourabh and Shristi,
I don't have a problem with your business model.
My problem is with the subscription.
Giving a subscription is too challenging.
People don't buy gym subscriptions. That, too, gets wasted.
Unfortunately, I have an issue with the subscription, not the model.
So, for now, I am not convinced
That is my perspective.
Unfortunately, that is why I am out right now.
All right. This idea,
conceptually, is very powerful.
Just say one word, 'Toy Library'.
'The kids won't need new toys.'
'There will be no wastage. We will create franchises.'
'Women entrepreneurs! Zero wastage!'
Oh, man! It intrigues people. Everybody wants to invest.
But as you peel the onion,
there are several moving parts in this model.
You need to optimise numerous things.
You have to manage franchises,
So, instead of figuring out just one thing,
which is shifting customers' behaviour
from buying toys to renting toys,
we are engineering the entire process.
That won't ensure our win because of the moving parts.
You cannot make money there. You're losing Rs 52 lakhs.
Right? On a cash flow basis.
You will be out of money soon.
It cannot be done this way.
How do we build it in a way that customers stick to it?
Thinking about that is essential. Invest your time there,
not to optimise your supply chain and distribution.
It needs to be a full-stack model.
So, I am out.
- Unfortunately! - Thank you, Sourabh and Shristi. - Best of luck.
- Thank you. - I hope The EleFant proves the sharks wrong.
- Yes. - Ma'am, absolutely yes.
- Thank you so much. Bye. - Thank you.
- Thanks. - Bye, sharks. - All the best, guys.
They said we were betraying the owners of the franchise.
I am clear
that we are neither betraying anyone nor letting anyone lose money.
The model is built in that way. From a learning point of view,
we need
to use the minutes carefully to avoid raising doubts.
This is definitely the need of the hour.
Someone will succeed at it if not us, but it will happen.
It will definitely take place.
'Acko Welcome Change.'
Welcome to Acko Changemakers,
where we really welcome change.
We've seen its beautiful portrayal on our Changemakers' wall.
We're making a digitally-empowered and sustainable future
by using innovation and connectivity.
- Welcome. - Thank you. - Thank you.
- How is it? - It was great.
- Was it a good experience? - Yes.
Your product is great. You're lending toys on subscription.
It's an innovative product. Good thinking!
You've brought about a lovely change.
You're working towards women's empowerment.
What I found interesting
was that you're promoting the saving culture.
You're pushing sustainability with your idea.
We really appreciate it.
We have a question on behalf of our audience,
especially the young and new parents.
What should they do daily
to do their parenting sustainably?
So, if you observe these days,
mothers are keen on sustainability.
We all know that children's products don't have a long life.
They might look new if you don't use them for a long time.
If you share and reuse them,
you can do something similar to what we're doing at EleFant
for other products.
I think that's one of the best ways
to impact the environment sustainably.
That's for sure. Together, we'll bring a change.
Similarly, Acko's revolutionary offerings
are bringing about a change in the insurance landscape.
Acko's health insurance plan
has no limit on hospital room rent.
This means that the bill is covered no matter which room you choose.
That's not all. You need not worry about surcharges
for doctor's visits and medical tests.
We want to give you a gift
on behalf of Shark Tank and Acko for your change and time.
- Thank you. - Thank you.
Thank you.
[camera shutter clicking]
Namaste. I welcome you to this special segment
of Invest Smart with ICICI Direct.
I am your wealth buddy.
Today, we will be discussing some crucial investment aspects with you.
They will help you make informed
and confident investment choices.
So, let's begin.
So, we have Mr Akhilesh Thota with us today
from the brand Easy Kart.
When you invest,
what is your usual strategy and expectation?
I ask my friends, advisors and mentors for suggestions.
Based on that, I will make my decisions.
Okay? But there is a challenge.
I borrow funds
from friends, parents,
relatives or other sources.
But I will tell you another option.
If you want to build your personal investment in the stock market,
It takes place within snaps.
Let me show you how.
By using MTF with ICICI Direct,
you can still book your profit without paying the money.
- Isn't it interesting? - It is.
You, too, can use the ICICI 3-in-1 account
Welcome to Ask the Shark. My name is Aashish Solanki.
Hello, Aashish! It's good to see you.
- Which... - What is the secret of your skin?
- Sir, two companies. - Two companies?
- I see. - Yes, sir. Which two will you give me?
Oh! I have two in NCLT. I will give you those.
Is that good or bad?
Find out what NCLT is.
I see. You will ensure my skin deteriorates.
Sir, today's question is from Lucknow.
Ms Geeta Menon has asked this.
- Sharks tell the pitchers to hire a CEO. - Yes.
You must've not heard me say it
because I don't believe it.
I believe every company has a journey.
You start the company and help it reach a point.
When you get the product market fit, it is called zero to one journey.
Then, you scale it a little.
So, it is called one to ten.
Then, you make it a big company, and it is called 10 to 100.
In all these three stages,
my personal bias is
the one with the founder attitude
- can never be a professional CEO. - Okay.
I believe you should hire a professional CEO
when the company is mature.
Humans have a life cycle. We start with childhood,
grow into youth, and enter middle and old age.
Similarly, companies go through a life cycle.
When they reach maturity,
that is the right time to consider
bringing a full-time CEO. Many companies do that.
If you hire
a professional CEO
in a startup environment,
it is not generally their expertise.
They are good at managing things, keeping things the way they are,
Do you see it in my eyes?
I can't see your eyes.
I see. I just wanted to say I am a greedy person.
See you in the next Ask the Shark
with a new question and a new Shark.