This is shark tank India episode number 23. In this episode of shark tank India Namhya foods-an ayurvedic brand in preventive healthcare, Urban Monkey-a streetwear brand, Guardian Gear- a bike riding gear brand and Modern Myth- a bag selling brand are the pitches.
1. Namhya Foods
- Owners: Ridhima Arora from Jammu & Kashmir.
About Namhya Foods
Namhya is India’s first ayurvedic brand in preventive healthcare.The company is in the manufacturing of tea blends, breakfast cereals and lattes.There is no preservative added in their products and they are all natural coming directly from farmers.The recipes are 70+ old and were made by Ridhima’s grandfather.
Ridhima wants to take her brand to a world class level.Out of every 12 people 1 people suffer from diabetes and from every 5 women 1 women is suffering from PCOD.So Namhya looks to provide them with ayurvedic preventive measures.The women who are suffering inconsistent period cycle can be cured by taking the bark of Ashoka tree and the company has a product made out of it.
Namhya Foods Gross Profit and Sales
The company’s valuation is 20 crore rupees.36% of sales are from the website and from them 50% are repeat customers.Ridhima has invested 25 lakhs to start the business.The printed price is 579 rs wherein the making cost along with the operational cost it costs about Rs.140. The company generated a sales of Rs.54 lakhs in FY 21-22 and for the last month is about Rs.16 lakhs. The net margin is about 35%.
Asks by the Pitchers of Namhya Foods
Pitchers approach with a ask of Rs.1 crore at an exchange of 5% equity of the company.
Counter offers for Namhya Foods
Ashneer backed himself because of the commodity business issue and Peyush also backed himself as he was worried about the distribution. Anupam and Vineeta jointly counter offers 50 lakhs for 30% equity and 50 lakhs debt. Aman counter offers 50 lakhs for 30% equity and 50 lakhs rupees debt.
Pitcher counter offers for 7% and the rest of the equation remains the same. Aman counter offers for 12% equity. Anupam and Vineeta were out. Pitcher counter offers 8% for 50 lakhs rupees and 50 lakhs rupees debt.
Final Offer for Namhya Foods
The final deal was finalised by Aman Gupta for 10% equity in the company in exchange of 50 lakhs rupees and 50 lakhs rupees in debt.
2. Urban Monkey
- Owners: Yash Gangwal.He was born and brought up in Hong Kong.
About Urban Monkey
Urban Monkey is such a brand whose vision is to make fashion for communities.They are dreamers, believers, hustlers and gamechangers.The company is only the OG level of streetwear in India.The company was started in the year 2014 with caps, wallets and bags.Now they have 10+ categories and 500+ products.They only sell their products in their website and are not present in any e-commerce marketplace like Flipkart and Amazon.The main problem of their company is maximum time many of their products get out of stock.
Urban Monkey Gross Profit and Sales
The company’s valuation is 100 crore rupees.When they first introduced the caps at that time there was no one in the market to sell such types of caps. The retailers and distributors were all old fashioned.The selling price of one type of spectacle is Rs.1200.From the categories, 30% of the eyewear is sold; caps accounts for 40% and others category for 30%.About 30% of their total sales is generating from the direct searches in the search engine. The sales in the FY 21-22 is Rs.5 crore and their projected for this year is 12 crore rupees. In FY 20-21 the sales was 3.4 crore rupees.Their projected sales in FY 22-23 is 25 crore rupees. The business is profitable; last year the profit was 15% and this year till date it is 25%.
Asks by the Pitcher of Urban Monkey
Pitcher approached with a ask of 1 crore rupees in exchange of 1 % equity of the company.
Counter offers for Urban Monkey
Anupam mittal backed himself because he was not happy with the supply chain. Vineeta was also out of the deal. Peyush counter offers 5 crore rupees in exchange for 50% equity in the company. He gave one condition that till the 5 crore rupees is becoming 50 crore rupees the company has to sell only caps and eyewears and not other categories.
Aman and Ashneer jointly counter offers 1 crore rupees for 10% equity in the company. Peyush counters and matches the offer. Pitcher counter offers for 1 crore rupees in exchange for 1.33% equity in the company. Pitcher again counter offers 1 crore rupees in exchange for 1.53% equity in the company.
Final offer for Urban Monkey
No deal was done as all the sharks stepped out.
3. Guardian Gears
- Owners: Ismail Badri and Tasneem Badri
Ismail Badri and Tasneem Badri are the founders of this enterprise and they are life partners.
About Guardian Gears
Guardians Gear is based out of Sikandrabad and the journey was started in the year 2013. The company is based on manufacturing bikes gears and they launched their first product in the year 2015 in the brand name of Gear Up Your Motorcycle.Meeting with the riders communities they felt that there is a lack in the luggage carrying part. So in 2018 the Guardian Gears was born and the company is in the manufacturing of Tank Bags, Tail Bags, Saddle Bags, Backpacks, and Tank Pouches.They are proud in saying that 30,000+ customers have appreciated the quality of the products. The products are available across online marketplace like amazon, Flipkart, on their own website and 70+ physical stores across the country.They want to establish their brand as an international brand.
Guardian Gears Gross Profit and Sales
The company’s valuation is 6 cr. They sell around 25k to 30 k per year.Last year the sale was about 1.50 crore rupees, and this year the projected sales will be around 2.50 crore rupees. One of the backpacks starts around Rs.500.Their gross margin is about 50% on maximum products.Their business is profitable business. In this current year they have generated a sales of Rs.1.25 cr till date and the net profit is around 12-15%. The company sales in FY 21 was 18 lakhs rupees in the month of June, in July it was Rs.21 lakhs, in September the sales was about 30 lakhs and the last month it was 21 lakhs rupees.
Asks by the Pitchers of Guardian Gears
Pitchers approach with a ask of 30 lakhs at 5% equity of the company
Counter offers for Guardian Gears
Peyush, Vineeta and Anupam’s offer is for 30 lakhs for 30% equity of the company along with some conditions as;
- Shut the offline store
- Change the logo
- Hire Someone for branding
Founders give a counter offer of 30 lakhs at 15% equity.
Final Offer for Guardian Gears
Sharks didn’t accept the counter offer and they all stepped out. No final deal was done.
4. Modern Myth
- Owners: Sourav Tokas and Oshina Hans.
Both Sourav Tokas and Oshina Hans are 28 years old and came from Delhi. They started their brand in 2019. They have known each other since school days.
About Modern Myth
Modern Myth is the company based on manufacturing handbags, office bags, sling bangs and many more with their unique designs.In the year 2019 they started with 4 workers and with a product catalogue of 30. They have now 140 designs and the products can be bought from their own website modernmyth.in and marketplaces. The company wants to take their company to every corner of the world and explore the untagged market of designer bags. All the products are vegan.
Gross Profit and Sales of Modern Myth
The company’s valuation is 15 cr. The sales without marketing and marketplaces is Rs.2.50 crore till date. In the last month the sale was 14 lakhs rupees. The average selling price of the bag is Rs.600.
Asks by the pitchers of Modern Myth
Pitchers approach with a ask of 75 at 5% equity of the company.
Final offer for Modern Myth
All the sharks stepped out and no final deal was done.
Shark Lesson of the Day
Shark Peyush Bansal gave a lesson about Ebitda which means net income excluding the four components. They are interest, taxes,depreciation and amortisation.
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