Shark Tank India 3: Shoe Wear brand leaves Sharks unimpressed; Aman Gupta calls founder ‘Oversmart’
In the latest episode of Shark Tank India, judges were unimpressed with a footwear brand whose USP is growing organically to fit kids' feet. Aman Gupta called the founder 'over smart'.
Shark Tank India 3 has witnessed captivating pitches spanning diverse sectors. In a recent episode, three brands representing footwear, arts and crafts, and Ayurveda aimed to captivate the judges. However, the footwear brand's pitch took an unexpected turn, leaving the Sharks unimpressed, particularly Aman Gupta, who labelled the founder 'over smart.' Unfortunately, the deal didn't materialize, and Peyush Bansal disclosed that the brand had previously approached him for investment, elaborating on the reasons for its previous rejection.
The COO and founder of the footwear brand, Satyajit Mittal from Pune, kicked off his pitch on a positive note, emphasizing his brand's unique selling point - kids' shoes that organically grow up to three sizes. Seeking Rs 80 Lakhs for 1% equity at a valuation of Rs 80 crores, Satyajit shared accolades and details about his product.
However, when probed by judges Vineeta Singh and Anupam Mittal about the scalability of his brand, Satyajit veered off-topic, delving into salesmanship. The judges requested a glimpse of the products, prompting Aman Gupta and Anupam to inquire about size management. Shark Peyush Bansal shared his personal experience, stating concerns about tight shoes for his son. Satyajit's response failed to address the issue adequately, leading Aman to express frustration, urging him to be concise and answer questions directly.
Inconsistencies emerged as the Sharks delved into financial details, sales, and store expenses. Satyajit initially claimed to have a co-founder but later admitted there wasn't one, referring instead to a founding member. Aman Gupta, visibly irritated, remarked, "Nervous nahi, oversmart hai," expressing his dissatisfaction with the pitch. Eventually losing his composure, Aman stated, "Mereko banda tu bilkul pasand nahi aaya, tu nautanki laga bohot bada. Tune kisi ki nahi suni. I am not saying you might not do well, you might be the next big brand I don't care." The Sharks collectively decided to withdraw after the discussion, and the pitcher left without securing a deal.
Shark Tank India 3 airs Monday to Friday at 10 PM on Sony LIV, showcasing the challenges and dynamics of entrepreneurial pitches and the discerning judgment of the esteemed panel.
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