In the most recent episode of "Shark Tank India season 3", "Aretto," a firm with unique technology that allows it to make shoes for kids that grow with them, made a pitch. The capacity of their shoes to adjust in size to meet the needs of growing children is their unique selling proposition.
The founder and CEO of this footwear company, located in Pune, Satyajit Mittal, makes a presentation on the entrepreneurial reality program that has the potential to alter our perception of children's footwear.
He gave a compelling pitch, highlighting the brand's unique selling proposition (USP) and displaying children's shoes that can grow into three sizes independently. He went into detail about his accomplishments and asked for Rs 80 lakhs for a 1% stake at a valuation of Rs 80 crore.
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Arato Owner's Pitch For The Sharks
During his Shark Tank India season 3 appearance, Satyajit Mittal gave information about his shoe company and how it assists parents in finding the ideal shoes for their developing children. The entrepreneur began his presentation by discussing the problems that parents typically run across when their children develop quickly at a young age.
This necessitates regular show changes, and it can occasionally be challenging to find footwear that fits and feels comfortable for them. Aretto shoes include nature-inspired technology that addresses this issue by enabling sizing changes up to three stages in advance.
The creator claims that more than 20,000 pairs of shoes have been sold through their website and other online marketplaces in the last 11 months. Four months ago, they also launched their first Exclusive Brand Outlet in Pune, a huge success.
At an estimated worth of INR 80 crores, the entrepreneur requested INR 80 lakhs for a 1% share.
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What Did The Sharks Offer The Pitcher?
When Vineeta Singh and Anupam Mittal, two sharks, questioned Satyajit on the scalability of his footwear firm, he first veered off course and gave more of a sales pitch. The judges didn't give up and asked to see a product demonstration. When Anupam and Aman Gupta questioned Satyajit about how the sizes are controlled, he found it difficult to give a good response.
Shark Piyush Bansal Shared His Personal Experience While Addressing the Contestant
Shark Peyush Bansal talked about his own experience and expressed worries that his son's shoes may feel too tight after six months. Visibly irritated, Aman asked Satyajit to concentrate and give straight answers to queries. Satyajit originally misled Anupam by saying he had a co-founder, but he subsequently acknowledged there was only a founding member and no co-founder.
The Sharks ultimately declined the offer, and the pitch ended without a contract.
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