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Shark Tank India: Insights into how Vineeta Singh helped a hand-painted sneaker brand scale new heights
Malvica Saxena, the founder of The Quirky Naari, achieved a breakthrough on Shark Tank India by securing an investment from Vineeta Singh and Anupam Mittal. In an interview, Singh shared insights into strategies for scaling the brand.
Shark Tank was a breakthrough moment for Malvica Saxena, the founder of The Quirky Naari. In Episode 20 of Shark Tank India Season 1, she impressed the judges with a showcase of her unique products. Securing a deal with Vineeta Singh and Anupam Mittal, Malvica obtained an investment of 35 lakhs in exchange for a 24% stake in her company.
How did Vineeta Singh contribute to scaling the brand?
In an interview with Think School, Vineeta Singh shared how she helped scale Quirky Naari. Vineeta mentioned that she invested considerable time in working with the founder of The Quirky Naari to standardize the design process. Despite continuing the unique hand-painted shoe approach, which is their unique selling point (USP), there's no need for customization for every customer because that becomes a barrier to scaling.
Furthermore, she stated, "At the time of pitching, Malvica was earning 3-4 lakhs, and now she’s generating 50-55 lakhs a month. I think the economics are better; it’s a healthier business."
She added that many times founders just need to be introduced to certain marketplaces and investors, like What's Up Wellness, Dorje, and Superflora, who are either doing follow-rounds or have just completed them, to help them reach the next level. Singh emphasized, "Honestly, 99.99 percent is the founder's effort; an angel can probably add 0.1 percent impact."
About Shark Tank India:
Since it started in December 2021, many people have loved watching Shark Tank India. The show, now in its third season, isn't just about getting money and advice from the sharks; it's also a great way for startups to get noticed. In the first season, out of 62,000 Indian hopefuls who applied, 198 businesses got the chance to pitch their ideas. Among these, 67 brands successfully secured deals.
The third season of Shark Tank India started on January 22, introducing six new judges alongside the respected panel from the previous season. The new judges are Azhar Iqubal, Ronnie Screwvala, Radhika Gupta, Deepinder Goyal, Varun Dua, and Ritesh Agarwal. Additionally, Anupam Mittal, Vineeta Singh, Aman Gupta, Peyush Bansal, Namita Thapar, and Amit Jain have appeared in previous seasons. This business reality show is valuable for aspiring entrepreneurs, making it a must-watch.
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