The most recent Shark Tank episode India starts with its initial pitch for a popular clothing line. The company’s founder, Siddharth Dungarwal, describes it as the fastest-growing men’s fashion brand in India. He discusses his goods and admits that his company was the first to introduce co-ord sets for males. Sharks are shocked by his sales and branding. When Namita inquires about his history, he replies, “I’m only a recent B Com graduate. I didn’t attend any IITs or IIMs. I’m simply a hustler, and since I was 14 or 15 years old, fashion has been my obsession. I used to assist my father in his jewellery store, but I had no interest in working there.
I persuaded my father to purchase the vacant shop next to his own so that I could open up shop of my own. While figuring things out and getting my own brand off the ground, I did have numerous ups and downs.
Aman is quite impressed with him after learning about the operations, sales, production, and costs of all the products. He expresses his admiration for the pitch, and Siddharth admits that the Sharks have been his mentors, teaching him everything he knows about the market through their blogs and YouTube videos.
Siddharth replies that he would like to give all of this to his father when Anupam inquires about his father’s opinion. He becomes emotional while relating a tale, and Anupam commends him. His request is for 0.5 equity at Rs. 1.5 crore. Aman says that in order to expand his firm, he also used YouTube videos to learn a lot. “The five of us would like to offer you Rs. 1.5 Cr. for 1.5% equity,” Peyush says. Aapne wohi kiya jo main foreign brands ke saath karne wala hu, says Siddharth, who also credits Aman as his inspiration. They all support the deal after Siddharth accepts it.
A life-size interactive fitness mirror is the second pitch. The Sharks are astounded by the founders’ discussion of their Virtual fitness mirror, Armaan Kandhari, Indraneel Gupta, and Vishal Chandapeta. They demand Rs 1.5 crore for I% equity. Peyush watches the mirror demo. Anupam inquires as to what is required for me to purchase this after learning that each mirror costs Rs 1.25 Lakhs. Indraneel provides a detailed description of their offering. Anupam makes an offer of Rs 1.5 Cr for 5% after analysing the marketing, sales, cash burn, and other factors. Vineeta makes proposals of Rs 50 Lakhs for 1% equity and Rs 1 Cr as debt at a 12% interest rate.They are at a loss; how will they pay your interest, asks Anupam. Together, Peyush, Namita, and Aman offer Rs 1 Cr for 2.5% ownership and Rs 50 Lakhs in debt. To the trio’s offer, Armaan counters with Rs 1.5 crore for 2.5% equity and Rs 1 crore in debt at 12% interest. The sale is concluded after the trio offers a final price of Rs 1.5 Cr for 2.5% equity and no debt.
