Move over, Silicon Valley startups - Indian brands are taking center stage on the Indian version of Shark Tank. One such brand is Avimee Herbal, a company specializing in ayurvedic haircare and skincare products.
While the sharks on the show didn't bite on their proposal of ₹ 2.8 Crores for 0.5% equity, Avimee Herbal still managed to make a splash. Following their appearance on the show, the brand experienced a 3-5X spike in daily purchase volumes on ecommerce marketplaces. That's right - just appearing on the show caused a massive surge in sales.
But Avimee Herbal isn't the only Indian brand making waves on Shark Tank. Two other companies - Paradyes and Flatheads - have also pitched their products on the show. Paradyes, a semi-permanent hair dye brand, secured a deal of 65 lakh for 2% equity with investors Vineeta Singh and Aman Gupta on January 12th. Flatheads, on the other hand, asked for 75 lakh for 3% equity on January 6th, but ultimately didn't receive a deal. We saw some movement as well for these brands (maybe more on that later).
What does this all mean for the Indian ecommerce market? Well, it's clear that being on a high-profile show like Shark Tank can have a significant impact on a brand's sales. Even if a deal isn't secured, the exposure alone can drive up demand and create a lasting buzz around a company. And for Indian brands looking to break into the ecommerce space, this kind of exposure could be the key to unlocking a whole new level of success.
It's also worth noting that Avimee Herbal's 86 year old founder, Radha Krishna Choudhary, has dedicated his life to spreading the benefits of ayurvedic medicine and promoting natural, sustainable products. His vision and passion have undoubtedly played a role in the brand's success. It’s incredible to see founders of all ages to affirm that entrepreneurship is for all ages!
So, who knows? The next big thing in Indian ecommerce might just be the product pitched on the next episode of Shark Tank India. Stay tuned! For d2c brands and ecommerce businesses looking to stay ahead of the curve, Vumonic is the go-to source for market intelligence and insights on the latest trends in the Indian ecommerce sector.
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