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Shark Tank India 3: Fashion wear brands battle for investment; disrupt clothing norms
The latest promo of Shark Tank India 3 teases two fashion-wear brands, Candid Men and Flyrobe, presenting their business concepts to the Sharks. Read to know more.
Shark Tank India Season 3 is gaining attention for its exciting episodes, giving entrepreneurs a chance to pitch ideas and secure funding. A new promo on the show's social media offers a sneak peek into one of the pitches, building anticipation for viewers eager to see innovative ideas and business deals in action.
Face-off between fashion-wear companies
Shark Tank India 3 has witnessed several startups and business ventures appearing on national television. This time, the business reality show is all set to feature two fashion-wear brands, Candid Men and Flyrobe, pitching their business ideas to the Sharks and seeking investment.
Candid Men is a high-end fashion rental company that provides men with the opportunity to access and wear exceptionally luxurious clothing without the need for a significant purchase.
Whereas Flyrobe specializes in both men's and women's fashion wear. The founder of Flyrobe says, “Maine Flyrobe found nahi kiya hai, maine iss space mein jo largest player tha, usko acquire kiya hai. (I have not found Flyrobe, I have acquired the largest player in this space).”
Insights from the pitches
Amit Jain asks founders of Candid Men if they designed it by themselves, to which the founders respond and say, “50 percent hum khud hi karte hain or 50 percent hum wholesalers se sourcing bhi karte hain. (We design 50 percent of it ourselves, and the remaining 50 percent, we also source from wholesalers).” Aman Gupta questions whether they have secured funding, and Candid Men founders shares that they haven’t raised any funding yet, whereas Flyrobe has raised 8 crores till now. Candid Men’s pitchers emphasize that their sales exceeded Rs 2 crore during the financial year 2022-23. Additionally, the pitcher of Flyrobe stated that their sales surpassed Rs 2.8 crore.
Sharks offers and valuation discussion
Vineeta Singh questioned the appeal of renting clothes, stating, "Bhaade main kapde pehene ka bhi ek stigma hai (There is a stigma associated with wearing rented clothes)." The pitchers respond by noting that this stigma is gradually diminishing in India. Namita Thapar adds that operating this business is a huge challenge.
The Sharks express interest and make offers. Amit Jain and Vineeta Singh make an offer. Anupam Mittal laughingly says, “Aapko thodi si thes pahuchi itni low valuation sun kar (You felt a little hurt hearing such a low valuation.),” to which Vineeta responds, “Don't worry, vo abhi ye solve kardenge, acchi valuation de kar. (Don't worry, they will solve this now, giving a good valuation).”
Namita adds, “Vo aapko bahut acha offer denge kyuki vo aapko thes nahi pahuchana chahte. (He will offer you a very good deal because they don't want to hurt you).” Aman presents his offer and says, “Ye log bahut gandi valuation de rahe hain. (They are offering a very low valuation).” Anupam says, “Sometimes sharks are unfair.”
The promo has the caption that reads, “Ultimate match-off between two rental clothing businesses - #CandidMen & #Flyrobe and a graphic design collective #Creativehatti on the other side, all in the race to secure a deal! Let's see who makes it to the funding round with the Sharks tonight!”
About Shark Tank India 3:
Shark Tank India 3 premiered on January 22, introducing six new judges alongside the panel from the previous season. The newcomers include Azhar Iqubal, Ronnie Screwvala, Radhika Gupta, Deepinder Goyal, Varun Dua, and Ritesh Agarwal. Also, Anupam Mittal, Vineeta Singh, Aman Gupta, Peyush Bansal, Namita Thapar, and Amit Jain have appeared in previous seasons. This business reality show holds significant value for aspiring entrepreneurs, making it a must-watch for enthusiasts and innovators alike.
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