Shark Tank India has returned with its second instalment on Sony Entertainment Television and Sony LIV with the motto “Entrepreneur ki Leher Ek Baar Firse”. Shark Tank India Season 2 episode 5 premiered on January 6, 2023 during the 10-11PM IST time slot. Payel Seth is the show’s creative director, while it’s been produced by Studio NEXT, with Ravikesh Vatsa as its writer.
The show is hosted by comedian Rahul Dua, and graced by six judges, better known as sharks – Anupam Mittal Founder-CEO of Shaadi.com – People Group; Aman Gupta, Co-Founder-CMO of boAt; Namita Thapar, Executive Director of Emcure Pharmaceuticals; Vineeta Singh, Co-Founder-CEO of SUGAR Cosmetics; Peyush Bansal, Founder-CEO of Lenskart.com and Amit Jain, Co-Founder-CEO of CarDekho Group and InsuranceDekho.com.
Himanshu Adlakha & Nikita Adlakha make a bang-on entry and open the doors for the new episode with their company ‘Winston’ that introduce a line of beauty appliances that can be used at home, thus cut down on one’s rounds to the salon. Following the 3S motto – Smart, Sturdy and Super easy – their brand has 8 products on their website as well as other e-commerce platforms.
Coming forth with their ask of Rs. 1 crore for 4% equity, their products are actually made in China, and then imported here. Namita tries on their LED therapy mask, which allows for skin detoxification, helps settle skin irritation, anti aging and more. From the line-up, their two models of face cleansers are priced at Rs. 2090 and Rs. 2990, the face eyebrow trimmer is worth Rs. 2490. While its drawback of being expensive is raised, the trimmer is detailed out to be electric and having a 1 year replacement warranty.
‘Winston’s complaint rate is made out to be even lesser than 0.5 %, with last year’s sales standing at Rs. 1.2 crores and the current year’s sales are projected to reach Rs. 6 crores. July’s monthly sales soar high with the company making a profit of Rs. 3.44 lakhs.
However, Namita is clear with her decision that she won’t be using these appliances due to them being manufactured in China, which reels in the factor of the being “trust deficit”. On the other hand, Vineeta and Anupam offer them Rs. 1 crore for 10 % equity, while Aman, who already has a competing business in his line-up, backs out due to the conflict of interest. The couple come back to accept Vineeta and Anupam’s deal, and the stage is cleared up for the celebratory dance.
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For the second pitch, Ganesh Balakrishnan’s ‘Flatheads’ brings in his range of comfortable shoe wear weighing less than 500 gm with sustainable and eco friendly material that keeps yours feet refreshed even inside the shoes. Having launched in 2019, the company now has 20,000+ customers, and makes shoes from scratch in India with a price range between Rs. 1000 – 5000
He presents his ask of Rs. 75 lakhs for 3% equity. The linen sneakers are tried on by the sharks, which demonstrates that they can be slipped on and off easily, while they after care only requires them to be washed in a washing machine.
With several prototypes of climate-sensitive shoes already on the way, the brand, however, is fatefully nearing the end of its runway. Last month’s sales were recorded at Rs. 15 lakhs with monthly burns standing at Rs. 5.5 lakhs. The founder conveys the reality of the company without sugarcoating it and the sharks are overwhelmed by his authenticity. Having previously started another business, both his attempts have failed till now, but the sharks applaud him for keep going through the hardships.
Aman talks about the basics – the 4 Ps i.e. Product, Price, Promotion and Place – and how some of them are missing from their business model. Due to the arising gap between the B2C (Business-to-Customers) model, the company can be shut down soon as well. Namita applauds his honesty and “no nonsense” work ethic, but confesses that it’s hard to revive a business like that which is already on the fall, and nearing its inevitable end.
On being asked by Vineeta as to how the new funds of his ask will be put to use, Balakrishnan confirms that an inventory will be sent into the international market. Aman then shares his own experience of restarting and rebuilding his business and affirms that it’s okay to take a step back in such a situation and re-evaluate one’s priorities. Anupam too picks up on the same note and brings the aspect of one’s responsibility towards one’s family as well. He forwards an offer for him to land back on his feet with an open job ready for him, after which he can give his business another go.
On the contrary, Peyush makes a non-negotiable offer of Rs. 75 lakhs for 33.3% equity, under the condition that he’ll do whatever it takes to build back the brand’s foundation without shifting the sales to America. Vineeta joins in on this offer for a collaboration, which leads the founder to rethink his options.
Taking a moment to himself, he later comes back and acknowledges his need to sort out the priorities at hand, and the need to go out into the world and learn the ways of the B2C model by working under another company and gaining enough experience. Adding on, he mentions that he’s been re-evaluating his business choices for a while now, but never got the chance to clear things up and take the initiative to break the chain of cons.
Talking to the sharks helps him recenter his perspective and grants him the much-needed courage to clear things up in his mind. Having gained that added touch of clarity, thanks the sharks for their support and declines Peyush and Vineeta’s offer to start anew.
‘Organic Smokes’ makes a bang on entry with the Chhabra brothers – Nitin, Piyush and Gaurav – taking the Shark Tank India set by storm with their signature offbeat relaxed pitch for their ayurveda therapy based alternative to nicotine. Bringing forth a patented formulation approved by AYUSH Mistry with tulsi leaves and other herbs, they hope to disseminate the same satisfaction as gained after smoking to their customers, but without any health hazards.
The team’s ask of the day is for Rs. 1 crore for 1% equity. The “disruptive entrepreneurs”, as Peyush calls them playfully, recorded their last month sales with a profit of 10% EBITDA. Having marketed their products majorly through exhibitions, they now have 45 suppliers and their ayurveda therapy is being sold over various pharmaceutical stores. Keeping the formula herbal through and through, they’ve replace nicotine with caffeine in their mix.
Anupam takes a step back and doesn’t agree with their claims of it not having any harmful effects, as essentially, the product will have to burnt for consumptions, thereafter its fumes will be inhaled. However, the team declares their projected sales to go up to Rs. 5 crores this year. Nevertheless, Anupam stay firm with his decision because the formulation isn’t a 100% scientifically proven concoction. The other sharks follow in suit, and ‘Organic Smokes’ returns home without a deal, and bids farewell, sporting its happy-go-lucky and smiling face.
Shark Tank India Season 2 Episode 5 Review
Like I’d mentioned after yesterday’s episode, “The key is to balance both the aspects – the business and the story of the soulful faces behind that business”, the fifth episode exhibits that distinction clearly. There is a right time and place for everything, even for delving into emotions while bringing out the business aspect on top. The first team of the day came out all bubbly and jolly with their products with an impressive pitch, but then the sharks switched the POV by talking about their arranged marriage and made just a big deal out of it.
Soon, a typical musical choice, usually heard blaring at North Indian weddings starts playing in the background. This disrupts the momentum of a reality show branded for its “business pitches”, so why is the show now tapping into their marital status as a marketable entity? Conversely, with Flatheads, the raw display of emotions works well by staying true to the inherent foundational reality of the company founder’s story and journey, and the on-screen translation of the same will further act as a softening comfort for other entrepreneurs stuck in a similar chokehold of a situation as well.
People who’re driven by their vehement apprehension of the show failing at its core need to see through the right placement of these supposed dramatic strategies. Not all of it is good, but on the same note, not all is fiercely bad either. It all comes down to one’s subjective choice about giving it another chance, but we need to be accepting and empathetic of the fact that real people are working behind the taglines of these businesses.
While some factors clearly denote the working in of calculated strategies on the production level, on other accounts, where things have been worked out with a balanced approach, they’re aiding the process of humanising the individuals whose identities have now been solely consolidated as the founders of an enterprise.
Shark Tank India Season 2 episodes will be broadcasted on Sony Entertainment Television and live-streamed on SonyLIV from Monday to Friday at 10 PM IST.
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