JOIN OUR WHATSAPP CHANNEL
Shark Tank India 3: Anupam Mittal offers deal to non-profitable brand as other Sharks step back; Here’s why
In recent episode of Shark Tank India 3, Anupam Mittal offered deal to a brand which revealed that it is currently non-profitable. Hearing this, other Sharks stepped back.
In the latest episode of Shark Tank India 3, the final deal was from a cosmetic brand that mentioned that Shark Vineeta Singh’s business was their biggest competitor. All the Sharks backed out of the deal, but Anupam Mittal went on to offer them a deal. Read on to learn more about the pitch and find out what impressed Anupam Mittal.
Cosmetic brand founders share why they were anxious to come on Shark Tank India 3
Pranali and Vailina are the two founders of the cosmetic brand who pitched their business idea on Shark Tank India 3. They spoke about how they met in 2022 and how the business came to be founded. The Sharks seemed to be impressed with their pitch and asked them their thoughts on Shark Vineeta Singh’s cosmetic brand.
Watch the promo of the episode here:
Replying to the Sharks, Pranali shared, “Vineeta is our biggest inspiration, we were a little anxious while coming here but she is also our competitor. Her brand is so big.” The Shark replied and said, “Aap aapki compani ki malik hain, aapko kisise darna nahi chahiye. (You are the owner of your company, you shouldn’t be afraid of anybody)” 
The pitchers also added, “One thing that other companies don’t offer is colorful eyeliners, lip glosses, and more.” Hearing this, Vineeta Singh said that black eyeliners are the highest-selling product for all cosmetic brands in the Indian market.
But Anupam Mittal praised them for cracking the business idea and bringing to the market what the buyer wanted. Vineeta says that she liked the business idea and that what they are offering is good, but she advises the pitchers to reduce the pricing by 30-40% to stand out in the market.
Anupam Mittal offers a deal
After the conversation, the judges asked the founders about their current profits. Their reply shocked everyone as they said, “Our company is currently non-profitable.” This made Aman Gupta, Ritesh Garwal, Vineeta Singh, and Namita Thapar walk out of the deal.
However, Anupam didn’t give up and said, “I can give you guys 1 crore for 15% of equity. You guys are non-profitable but I want to help you guys with this.” The pitchers try to negotiate the deal. Anupam then told them that he was jumping in the pit with them as their business was not profitable currently. He expressed he doesn’t want to negotiate and stepped out.
ALSO READ: Aman Gupta to Namita Thapar: Check out first jobs of all judges of Shark Tank India
Latest Articles
