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Shark Tank India 3: Vani Chugh and Richa Kapila open up on dealing with Vineeta Singh’s feedback
In a recent episode of Shark Tank India, founders Vani Chugh and Richa Kapila pitched their women's innerwear brand, D'chica, to investors including Anupam Mittal, Vineeta Singh, and Namita Thapar.
In a recent episode of Shark Tank India, the panel of investors, including Vineeta Singh, Anupam Mittal, Aman Gupta, Amit Jain, and Namita Thapar, listened to a pitch from an enthusiastic founder from Delhi. Vani Chugh and Richa Kapila introduced their women’s innerwear brand, D’chica, to the show. While the pitch received positive feedback, Vani talked a lot during the pitch, which annoyed Vineeta and Anupam. Aman also had issues with the founders and couldn't see himself working with them.
Securing the deal
Richa and Vani secured a deal with Namita Thapar and Vineeta Singh, investing Rs 80 lakhs for 2.5 percent equity and 1 percent royalty. In an interview with Indian Express, the founders shared their experience and how they're using feedback positively. They also discussed how the show is helping their business.
Reflecting on the experience, Vani expressed, “The pitches are usually longer, ours was about an hour long, and there is a lot of open conversation with the sharks. It seems very intimidating when you walk in, but these guys are very candid, they try to make you feel very comfortable, and they laugh a lot and joke.”
Handling criticism and implementing feedback
When asked about the Sharks' criticism, especially regarding Vani's talkative nature, the D'chica co-founder said, “As an entrepreneur, you have to have thick skin to handle all kinds of feedback.” Vani added, “You do feel bad momentarily, but when you are looking for fundraising, it is all water under the bridge, you should see if you can take something positive from the feedback.”
Talking about who made them nervous during the pitch, Vani said, “Anupam can be a bit intimidating. He asks tough questions to everyone, that's his style.” Richa added, “We felt there were some aspects that weren't addressed but should have been. After the episode, we took the feedback seriously, especially regarding inventory management.”
Post-Shark Tank growth
Richa also mentioned that their business has been growing overall since appearing on Shark Tank India. Vani said, “Our conversion rate has grown immensely. The conversion has become faster. Unlike some people, we have not seen a 4x or 5x jump in revenues, but there is a sustained increase.” Vani said that when Anupam told her 'You talk too much', they felt worried. But then, Vineeta and Namita offered them a deal. Vani also shared that two weeks later, Vineeta and Namita's teams contacted them. She added, “I have heard so much about Shark Tank India that the investors don’t reach out, teams ghost you, but it was very professional with us, and paperwork has been closed.
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