Shark Tank Ravel
In this episode of Shark Tank India Ravel, a brand that makes customized hair care products based on the type of hair, goal etc presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Founders||Ayush Mahesh Verma|
|Ask||₹75 lakhs for 2.5% equity|
Ayush Mahesh Verma is from Amravati, Mumbai. He came to Mumbai to study computer science engineering. He decided not to opt for a job after completing graduation.
About the company Ravel
It is a very common problem for women to have different types of hair and taking care of the hair is a major concern. Some have oily hair, frizzy hair, etc. It is a cumbersome process for women to buy different products for one reason. To solve these problems he started his company. Ravel is such a brand that makes customized hair care products based on the type of hair, goal etc. Their products are Sulphate and paraben free. They have served more than 2 lakh customers. The company was launched in January 2021.
Ask by the Owners Ravel
Pitchers asked 75 lakhs for 2.5% equity in the company.
Ravel Sales And Revenue
The current annualized revenue run rate is 5 crore rupees. Last month the sales were 40 lakhs rupees. From January 2021 to March 2022 the sales were 1.55 cr. In FY 22-23 to till date, the sales were 1.4 cr. rupees. The GMV is 40 lakhs rupees and net sales is 35 lakhs rupees. The marketing expenditure is around 10 lakhs. They have 20% of repetitive customers. In April 2022 the sales were 15 lakhs rupees. In May ’22 the sales were 25 lakhs rupees, in June ’22 the sales were 32 lakhs rupees and in July ’22 the sales were 40 lakhs rupees. Net revenue is around 10%.
They have worked 100% with the skin care products and their sale is from their own website. The repeat cohort is 25% for 3 months and 35% for 6 months. Their monthly net profit is around 5.5 lakhs rupees.
Offers and counter offers
Anupam offers 75 lakhs for 10% equity in the company with a condition that Ravel will generate 7.5 lakhs rupees monthly profit in two months.
Pitcher counter offers 75 lakhs for 3.5% equity in the company.
The pitcher again counters 75 lakhs for 7.5% equity in the company.
Ravel Final deal
The deal was finalized with Anupam for 75 lakhs rupees in exchange of 10% equity at a valuation of 7.5 crore rupees with a condition that Ravel will make a monthly profit of 7.5 lakhs rupees in two months.