Shark Tank Singh Styled
In this episode of Shark Tank India Singh Styled, quality turbans and personal care products for Sikhs present the pitch. Will the founder get a deal from the sharks? To know about the deal read till the end.
|Company name||Singh Styled|
|Founders||Charanjeev Singh Salva and Ashwath Pujari|
|Ask||₹ 50 lakhs for 5% equity|
Singh Styled Founder
Charanjeev Singh Salva, founder and CEO and Ashwath Pujari is from Mumbai; Operation Head.
About the company Singh Styled
Sikh people has mark their identity by their turban and well-groomed beard which has been portrayed by their spiritual gurus. They should be proud of that but in 400 years no such brand has came out with the idea of providing high-quality turbans. To maintain a well-groomed beard they have to use skin care products which can be alcohol based and can cause chronic diseases like asthma etc. Keeping this in mind they started Singh Styled in the year 2016. They are specialised in quality turbans and personal care products, especially for a beard which is alcohol-free as well as gum free. They are delivering across 130+ countries worldwide and have successfully served 60000 customers. The differentiating factor is that they are not promoting themselves as beard-growing oil, they promote as beard nourishers and beard setters. SKUs are:
- Beard Care – 6 products
- Accessories – 4 products
- Turbans – 100+ shades
Ask by the Owner Singh Styled
The owner asked 50 lakhs for 5% equity at a valuation of 10 crore rupees.
Singh Styled Sales And Revenue
40% of sales are from turbans and 60% are from personal care. In the financial year 19-20 the sales were 12 lakhs rupees, in FY 20-21 the sales were 14 lakhs rupees, In FY 21-22 the sales were 33 lakhs rupees. This financial year till date they have made a sales of 42 lakhs and last month the sales were 7.5 lakhs rupees. They are profitable but only by a margin. They have raised 1 crore rupees with a dilution of 20% equity.
Subhang Shark Tank
Offers and counter offers
Peyush offers 50 lakhs for 20% equity with a condition that he would be an active investor in the business.
Pitcher counters 50 lakhs rupees for 10% equity.
Peyush agrees to invest 50 lakhs for 10% equity with the condition that he will invest 75 lakhs more at the same valuation.
Singh Styled the Final deal
The deal was finalized with Peyush.