Hair extensions are a popular beauty product, but applying them can be a hassle. The Shell Hair, a contestant on Shark Tank India Season 3, pitched a solution with their innovative hair extensions. Here's a breakdown of their pitch, the investment ask, and the latest update on their deal.
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The Shell Hair's Pitch And Ask
According to the latest episode from Shark Tank India season 3, Namita's hair extension demo was deemed "Shark Approved," and Shark Anupam called her product genuine. You must have recalled Nish Hair Business Pitch and Hair Originals. With the aid of hair extensions, Shell Hair Vision aims to offer a stylish solution for both hair beauty and confidence. Shelly Bulchandani attended Sophia Girls College to get a bachelor's degree in computer applications. Following that, he completed an internship at Nimap Infotech in software testing before landing an internship at REDJEE Software Labs in social media marketing. She is currently in charge of The Shell Hair thanks to these experiences.
The Investment Ask: Seeking Funding for Growth
According to reports, the owners of The Shell Hair asked for ₹30 Lakhs, in return for 3% equity in their business for valuation 10 crore. It is uncertain what exact proportion of stock they offered.
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Deal Update: The Verdict from the Sharks
If we talk about the deal, the first shark Anupam Mittal made his offer in which he valued it at Rs 30 lakh for 10% equity at Rs 3 crore. Subsequently, shark Aman offered Rs 30 lakh for 6% equity, and countering the offers from both these sharks, shark Ritesh Aggarwal offered The Shell Hair Rs 60 lakh for 6%. After this, Shark Aman Gupta retaliated by offering Rs 30 lakh for 3%, the valuation of which was Rs 10 crore. With this counteroffer, Shelly Bulchandani, owner of The Shelly Hair, accepted the offer from shark Aman Gupta.
Conclusion
Shell Hair pitch Shark Tank and gets a deal with shark Aman Gupta, appearing on Shark Tank India can provide valuable exposure for startups. The experience and feedback from the Sharks can be instrumental in refining their product and business strategy.