Shark Tank India Season 2: Sharks come together to guide 'masoom' entrepreneur to stand for his rights

Shark Tank India Season 2: Sharks come together to guide 'masoom' entrepreneur to stand for his rights

Amit Jain, co-founder of CarDekho Group and Aman Gupta, co-founder of boAt ask him to leave his co-founder and start a business with them.

FPJ Web DeskUpdated: Tuesday, February 07, 2023, 12:09 PM IST
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Shark Tank India Season 2: Sharks come together to guide 'masoom' entrepreneur to stand for his rights | Twitter - Sony TV

The latest episode of Shark Tank India Season 2 saw some bizarre turns of events with the sharks coming together to guide a 'masoom' (innocent) pitcher to separate from his co-founder and do something on his own, showing that it's not just all about the money.

The first pitch for the episode on Monday, was from Kishore Jairamaka and Ashutosh Roy, the founders of Gavin Paris, which is a streetwear fashion brand for youngsters. The brand has a line of gender-neutral, and trendy clothing, with comfortable apparel and oversized t-shirts as their main focus. The products impressed all of the sharks as the quality of the products was high, with 100 per cent premium cotton fabric used for the t-shirts that cost around Rs 599.

The founders said that they hired interns from the fashion industry in order to stay trendy in the market. The brand's lifetime sales was at Rs 1.4 crore with all of them being done from the website. The gross margin was recorded at 60 per cent with a profit of 18 per cent. They ended with asking for Rs 50 lakhs for 5 per cent equity.

Disparity in stake

But with the arising questions from the Sharks it became clear that the team had ventured into the business scene without any proper planning or preparations. What was even more shocking about the sharks was that Ashutosh, who did most of the talking, had a stake below 10 per cent. From the pitch, it was clear to the sharks and the viewers that it was Ashutosh's digital marketing strategies that helped the brand achieve profits. This made the sharks question Kishore's intentions as Ashutosh's contribution was barely getting the credit it deserved.

Offer by Sharks

Anupam Mittal, founder and CEO of Shaddi.com, backed out of the offer due to a lack of answers and clarity. Even the other sharks agreed with him that the equity split was unfair, and they felt that Kishore wasn't able to grasp the importance of his co-founder. In the end, Vineeta Singh, co-founder of SUGAR Cosmetics, makes an offer on the condition that Ashutosh is given 40 per cent equity. But in the end, Kishore turned down the offer, which was something the sharks had expected.

Amit Jain, co-founder of CarDekho Group, and Aman Gupta, co-founder of boAt, asked Ashutosh to leave his co-founder and start a business with them.

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