1. COSIQ (The intelligent cosmetics)
- Business Name: COSIQ
- Owner Name: Kanika and Angad
Kanika and Angad are both from New Delhi. They meet each other at a wedding ceremony and they fall in love with each other. Angad proposed to Kanika after 1.5 years and they got married. Kanika worked with a cosmetic manufacturing company 2 years back and had a sound knowledge about cosmetics products. So both of them started their journey, established the intelligent cosmetics brand COSIQ.
COSIQ is a brand that manufactures cosmetic products which are different from other brand’s products as they tried to make the products ethically and with intelligence. They are mainly in the business of making skin care products and they focused mainly on safety, soft skin and right products for right customers. Their best sellers are the COSIQ serum sunscreens and the vitamin c serum. They showed their samples asked by the sharks.
The main characteristics of their sunscreen lotion is that it vanishes after 10 minutes of applying leaving no white patches on skin. They also added that they had no lemon in their Vitamin C serum as lemon does not make the skin glow and soft. The Vitamin C serum is the India’s first serum with only with ingredients. Angad manages the finance ,sales and marketing where as Kanika is more into the products development and research. They launched these products three months ago.
Gross Profit, Sales and Revenue of COSIQ:
The valuation of the company is 6.67 crore.They are selling their products mainly through online platform(Amazon) and doesn’t come in traditional selling. In 4 months they have generated a sales of 11 lakhs. They said the last month sales was about 3.5 lakhs rupees and this month they are looking to end with 4.5 lakhs rupees. Kanika added that their gross margin is about 75 percentage and net profit is 20 percentage.
Ask By Pitchers of COSIQ:
Angad and Kanika asked for 50 lakhs for 7.5% equity.They said they need to raise this fund for paid marketing.
Offer and Counter offer for COSIQ:
Anupam Mittal counters a deal of 50 lakhs for 20% equity. Vinneta Singh again counters the offer and wants 20% of equity for 20 lakhs and 30 lakhs rupees debt. Namita Thapar was out as she told that she did not find any difference about the products and found the sunscreen lotion to be sticky. Aman Gupta boAt co founder also backed off giving a reason that he has invested in such companies recently so it is not possible for him to invest in this deal. Ashneer Gover counters for one third of the company for 75 lakhs.Ashneer praised that these products have a potential to catch the international market.
The pitchers took a few minutes to discuss among themselves. They returned back and agreed to close the deal with Anupam Mittal of 50 lakhs for 20% equity. Anupam had an alternate offer of 50 lakhs for 25 percent equity and they will have vineeta singh with them. Pitchers again counter for 20 percentage equity for 50 lakhs. Ashneer counters again for 25% equity for 75 lakhs.
Final Offer for COSIQ:
Finally the deal was done with Anupam Mittal and Vineeta Singh.The deal was of 50 lakhs for 25% equity in the company.
- Business Name: Bummer
- Owner Name: Sulay Lavsi
27 years old from Ahmedabad stated his journey in the venture of making underwears. This idea came to his mind as their family has been in textile business for the last 50 years. So he decided to make a change and started his own venture Bummer.
Bummer, the company was founded in the year of 2020.The company spent a span of 15 months visiting factories in finding the proper materials, choosing products. Then they launched their products in the year of 2021. According to the pitcher the quality of the underwear is the main key to success. The quality is so soft, comfortable and made with micro modal fibre. Micro modal fibre is obtained from the skin of Beech tree and is quite natural products. Shark Anupam asked about the industry setup, Sulay replied that their industry is not in ludhiana. They are currently working with a big factory in Delhi which deals with good quality products. Bummer invested 10 lakhs rupees in the machinery cost and in return the factory decides to fix a margin for the coming 12 months.
Bummer has the exclusive designs and bold colours which target the age group between 18 to 24 years. Namita asked whether there is a craze among female buyer or not.In reply Sulay said that this is interesting that they have the 50-50 market among both males and females. hey had introduced pair underwear which bring them a great sales in the market. Their advantage is that they have a larger female audience. Asked about the unique selling proposition Sulay said they are more into the fit and softness of the underwear and the main focus is on the weight of the underwear.The weight is around 60gm.
Gross Profit, Sales and Revenue of Bummer:
The valuation of the company is 18.75 crore.Binext and four angels were their investors beforehand and the company has raised a 9 crore of revenue from them. Bummer has generated a sales of rupees 15 lakhs last month.They have indulged in a sales of 80 lakh rupees for last 6 months. They had 15000 customers on board and they only sell their products through their website www.bummer.in. They are not in any ecommerce site like Amazon, Flipkart till date. The average order value is about 1100 rupees where it is 330rs. cost making, 70rs. is shipping cost, 550rs. is marketing and the net profit is 110rs. The average gross margin is 70%.
Ask by Pitchers of Bummer:
Sulay pitched an offer of 4% equity for 75 lakhs.
Offer and counter offer for Bummer:
Ashneer was annoyed by the attitude of the pitcher and with his behavior while the pitcher told that he wanted a Direct to customer kind of investor to work with and he asked for Aman Gupta and Vineeta Singh. Ashneer also added that previously Bummer has raised revenue from two fintech companies. Vineeta Singh backed off as she was not so convinced by the quality of female underwear. Anupam was not interested to invest in the company.
Shark Namita thapar and Aman counter offer of 15% equity for 75 lakhs. Pitcher counter offer of 6% equity for 75 lakhs. Aman and Namita counter for 10% equity for 75 lakhs. Pitchers took time and again to counter for 6.5% for 75 lakhs.
Final Offer for Bummer:
The final deal was 7.5% equity for 75 lakhs.This deal was done by Aman and Namita.
3. Jhaji(The achari brand)
- Business Name: Jhaji
- Owner name: Kalpana Jha of 52 years old and Uma Jha of 51 years old.
They are from Darbhanga in a small village of Bihar. They are the unique pair of ‘Nanad’ and ‘Bhabi’.
About the Jhaji:
People of Bihar are very fond of pickles. They always enjoy pickles on their plate in any meal. The taste of their pickles is quite different from others. And Kalpana and Uma wanted to carry this tradition of pickles and present it in front of the world. This led to the opening of Janji pickles. They started their business in April 2021.
They make different types of pickles. They are sun-dried, lack any chemical preservatives and artificial colour. For this, they smell and taste so well. They have sold their products to 2500 customers in just 3 months. She served three different varieties of pickles to judges. Kalpana has learned these pickle recipes from her mother. Her husband and son have helped in funds and marketing. She has a youtube channel called Jhaji Store.
Gross Profit, Sales and Revenue of Jhaji:
Her last month sales are around 5.14 lakhs in which ₹ 80k are from re-customers. Her average order value for one bottle of pickle is ₹600. Out of which she spends ₹180 for marketing, ₹ 170 for packaging and raw materials, ₹140 for courier, and remaining₹110 left as margin value per bottle of pickle. She explained how she will spend the fund she demanded.
The amount she demanded will be used in current orders, few amount on machineries, warehouse, inclusion of dry foods of Mithila and left for advertisement purposes. She has given 20% equity to her son and Uma Jha’s husband has 12%equity of her company.
Offer by the Pitcher of Jhaji:
Pitchers asked for 50 lakhs for 10% equity.
Final Offer for Jhaji:
No sharks were interested in this venture to invest and buy the equity. So the pitchers didn’t have a deal with the sharks.
Shark Lesson of the Day
Lesson of the day is given by shark Vineeta Singh. She explained the term “Customer Acquisition Cost”. CAC is the added up the costs associated with gaining new customers. It is the amount spent on marketing and sales then divided that amount by the number of customers you acquired.