Shark Tank India Magic Of Moments
Shark tank India season 2 is here with quite a different business idea of making jewelry from DNA. Will this unusual pitch bag a deal? Keep reading till the end.
|Company name||Magic of Memories|
|Ask||25 lakhs rupees for 5% equity|
Magic of Memories Founders
Priti Magoo is from Delhi. She is an optometrist and has worked for an eye clinic and eye hospital. She left her job when her daughter was born in 2017. She used a concept that is popular in Germany. She has completed courses from Germany and Australia based on this technology.
About the company Magic Of Moments
Magic of Memories launched in 2019, is a company that is based on making jewelry from the DNA of human beings. For e.g. a mother wants her umbilical cord and breast milk to preserve memories and this company will help you to make it possible by making any type of jewelry from them. They also made jewelry from human blood. The company has 60,000 followers on its Instagram page and have successfully delivered 500+ orders. They also have their presence on Facebook and have their own website.
Ask By The Owners Of Magic Of Moments
The pitcher asked for 25 lakhs for 5 % equity in the company.
Other information about the company- In FY 19-20 from August the sale was 8 lakhs rupees, in FY20-21 the sale was 17 lakhs, in FY 21-22 the sale was 27 lakhs and to date, the sale is 24 lakhs. The last month’s sale was 4.17 lakhs rupees. The average order value is 11,000. The Gross margin is 55% and the net profit is 50%. 90% of the customers are mothers.
Offers and counter offers
As no sharks showed interest, there were no offers and counter offers.
Magic Of Moments Final Deal
No deal was finalized.