Table of Contents
Shark Tank India Nestroots
In this episode of Shark tank India a decor and furnishings startup came to pitch the business idea. Will this Indian brand get a deal from sharks?
|Ask||50 lakhs rupees for 1% equity|
Chhavi Singh is from Delhi and the founder of the company Nestroots. She founded her company in 2016. She had a long 10 years industrial experience. She had worked with Arvind in Sales and Operations and the next 5 years in training and development. Her father, mother and brother all three have succeeded with three different businesses.
About the company Nestroots
Inspired globally, Nestroots is a proudly Indian brand. In nestroots, one can find decor, dining, and all kinds of furnishing products. The unique selling proposition of the brand is Elegant aesthetics and unique designs. The products are known for their utility-based superior quality and affordable pricing. Products are available on more than 25+ online platforms including their own website and marketplaces like Amazon, Flipkart, Myntra, Tata Cliq etc. The customer base has reached to more than one lakhs. Aim of the brand is to make this as a go to brand and make such products to compete against the International market. There are mainly 5 categories of products available at their store: Furniture, Kitchen and Dining products, Serveware & Tableware, Barware, and Furnishing.
Ask by the Owners Of Nestroots
The pitcher asked for 50 lakhs rupees for 1% equity in the company.
Other information about the company- Major sales contribution is from the furniture category which is about 55%. The average monthly sales is 1.1 cr. rupees after returns. The net sales excluding GST is Rs. 98 lakhs rupees. 25% of their sales is from their website and 75% is from the marketplaces. The gross margin is about 70-75% and the contribution margin(CM) is 10% on average. The company is making a profit and the net profitability is 16-19%. In FY 21-22 the net sales were 7.2 crore rupees and net profit was 14%. Projected sales for FY 22-23 are 16 crore rupees. The company is spending 5 to 6 lakhs among 1.1 cr. rupees for marketing. Chhavi and her father both are shareholders of the company. Chhavi has raised a debt of 35 lakhs rupees with debt and debt has been paid off. She raised a fund of 35 lakhs rupees at a valuation of 4.5 crore rupees.
Shark Tank India Atypical Advantage
Offers and counter offers
Namita offers 50 lakhs for 2% equity. As all the remaining sharks were not interested so there were no counteroffers.
Nestroots Final Deal
The deal was finalized with Namita for 50 lakhs for 2% equity in the company.