JOIN OUR WHATSAPP CHANNEL
Shark Tank India 3: Vineeta Singh REACTS to seeing Taapsee Panu endorse pitcher’s haircare brand
In the recent episode of Shark Tank India 3, Vineeta Singh and Namita Thapar came together to offer a deal to the pitchers after saying that their business is dying.
In the recent episode of Shark Tank India 3, there was a haircare brand that caught everyone's attention. Surprisingly, they were already well-known in the market. The Sharks were taken aback by their presence on the show and couldn't help but ask them why they decided to come on Shark Tank India 3. Interestingly, Bollywood actress Taapsee Pannu has been their brand ambassador. Read on to know why they came on the platform and if they managed to secure a deal.
Sharks react to famous haircare brand on Shark Tank India 3
Before the pitchers entered the stage, the Sharks reacted by seeing the display of their brand. Seeing Taapsee Pannu on the display endorsing the brand products, Vineeta Singh reacted, "Itni badi company, yeh kaise aa sakta hai? (It’s such a big company, how can they come?)"
To this Namita Thapar replied, "Marketing ke liye, aur kis liye. (For marketing, what else?)"
Check out the promo from the episode here:
Pitchers Dhurv Madhok and Dhruv Bhasin share an interesting pitch with the Sharks leaving them entertained. They asked for Rs 1 crore for 1.25% equity, revealing they had Rs 50 Lakhs in the bank and Rs 4cr in inventory. They share their aim is to become India's best-selling and high-performing haircare brand.
Vineeta welcomes them and goes straight to the point. She asks them, “Your brand is already funded and huge. Taapsee Pannu has been your brand ambassador, so why have you come to Shark Tank? Is it just for marketing because you are not going to close the deal."
One of the pitchers then shares the plans they have for the growth of their business. They reveal that they want smart money and the experience of the Sharks. Aman Gupta shared that he had spoken to them before and he liked the shampoo they had sent him.
Anupam Mittal, Namita Thapar, and Vineeta Singh question them about the products, pricing, and other financial aspects of their business. They share the amount they have raised so far, the gross margin of each year, and previous financial rounds. When asked about the money they are left with Dhruv shared that they have Rs 50 Lakhs in the bank.
Aman was shocked and asked, "After raising Rs 28 crore, you are only left with Rs 50 Lakhs."
The sharks tell them that their business is dying. They point out that although their products are solid, something is pulling their business down. Vineeta Singh and Namita Thapar decided to come together for this deal and offer Rs 1 crore for 2% equity at a valuation of Rs 50 crore and it is non-negotiable.
Dhruv and Dhruv give a counteroffer of Rs 1cr for 1.33% equity and 0.67% advisory equity. The sharks agree and make a deal. Others back out and Aman Gupta tells them that he can help them outside the show.
ALSO READ: Aman Gupta to Namita Thapar: Check out first jobs of all judges of Shark Tank India
Latest Articles
