‘Stop right there:’ Shark Tank India 4's Namita Thapar interrupts pitch, backs out from investing for THIS reason
In the latest episode of Shark Tank India 4, Namita Thapar backs out from investing in a skincare supplements brand. Read on to know what went wrong.
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In today’s (March 3) episode of Shark Tank India, the first pitch was from an advanced supplement brand focusing on skin care and beauty. The brand, founded by a sibling duo, asked for Rs 1 Crore for 1.5% equity.
The Sharks questioned the pitchers about how their products are unique, given there has been a boom in the supplement sector since last year. After hearing their background, Vineeta Singh asks the founders their ages. The younger sibling says he is 35, and his sister is 40. Surprised, Vineeta Singh says their collagen product has worked effectively on them, as they look very young.
The pitchers reveal that they have conducted clinical trials of their products and claim they have no side effects. Shark Kunal Bahl asks how long the users have to consume their products to see results. Pitchers say that they should take the capsules twice a day for at least 60 days, and for maintenance afterward, they should take them once a day. Once they stop consuming the products, the results stop showing.
The Sharks were taken aback hearing this, as they believe the price point is on the higher side, and gradually they will lose their customers. Vineeta Singh says that most indian households have additional expenses, and nobody will spend so much on consuming skincare capsules.
Kunal Bahl says, “Mujhe aab business samajh mein aa gaya (I have come to understand the business).” He says the founders spend an unnecessary amount on marketing, and their sales increase on online platforms because they push their products.
In response to Bahl, the pitcher explains how they reach out to cosmetologists and skincare and wellness brands to partner with them. Namita Thapar interrupts, “Shreyansh, stop right there. Kaafi der se I have been quiet. I 100% agree with Kunal.”
The pitcher refuses to believe he is marketing their brand as a push product. The Shark adds, “Unfortunately, I know this space too well,” and backs out from investing.
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