Shark Tank India season 2 is getting more interesting with each passing episode. From innovative pitches to sharks trying to crack the deal, the season has it all. In the latest episode, the founders of the haircare brand Manetain presented their pitch to the sharks. They wanted Rs 75 lakhs for a 2.5% equity stake. The pitchers demonstrated their products before continuing to discuss sales, earnings, and other technical aspects of the company.
The founders, Yuba Mohammed Romin Aga and Hinshra Manadath Habeeb, claimed that this was a one-stop solution for people with curly hair. Shark Vineeta Singh looked visibly shocked as soon as the products were presented. She also looked a little disappointed after focusing on the item’s price tag of Rs 1250. As a result, Vineeta withdrew from the pitch after pointing out that the execution flaw is yet another setback for their brand. Anupam agreed and added that they lack entrepreneurial spirit.
Meanwhile, Namita Thapar found it too early to invest in the brand. Amit Jain also scrutinised them brutally and told them their branding was ‘bekaar’ (bad). Further, he remarked, “Aap log timepass kar rahe hain (You guys are not serious about it.)” Namita tried to stop Amit from being harsh on the pitchers, but he continued and questioned why the two founders were based in two different cities. “I want to be harsh. Saath mein aao pehle, phir junoon aayega (Come together first, then you will get the spirit to work),” he added.
On the other hand, Aman approached the pitchers in a different way. In contrast to Amit’s tougher and more direct criticism, the boAt co-founder encouraged them by taking a softer approach and pointed out their shortcomings in a subtle way. He also said he was willing to work with them to enhance their brand image.
Aman made them an offer of Rs 75 lakhs for 10% equity, with the caveat that they enhance the setup of their brand and hire staff who can work with them as the CMO/co-founder and advance their positioning. The pitchers attempted to make a counteroffer of Rs 75 lakhs for 7.5% equity, but after various justifications, Aman’s offer prevailed.
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