The latest episode of Shark Tank India 2 saw Sharks skipping investment in as many as 3 pitches out of 4. They were not convinced about different aspects of the business that founders pitched for and one of them was a cheese brand.
Pitch 1:
Rajas Dhote introduced his authentic and premium quality Italian gourmet cheese that is made from 100 percent fresh milk. He boasted of having a variety of flavourful cream cheese, burrata, jalapeno sour cream etc. His ask was Rs 91 lakh for 1.5 percent equity. Sharks tasted his products and learnt more about his business and pricing. Aman Gupta told Rajas he thinks cheese consumption could be ‘ameero ke chochle’ but Anupam Mittal countered by saying it’s an aspirational business that is bound to grow with time. They tried to understand its market size. But Rajas’ numbers didn’t match up. Aman asked him if it is his co-founder who handles finance and Rajas admitted it’s true. Aman opted out due to his ‘dheeli pitch’. Amit Jain said, “Dhandhe wala sharpness nahi hai.” Anupam wasn’t convinced with the marketing price power. Even Namita Thapar chose to skip investing.
Pitch 2:
Next, Desmond Nazareth walked in with Conrad Braganza and introduced his brand of premium Agave spirit that was first launched in Goa in 2011. They have different categories of spirits, liquor and cocktail blends. Desmond shared how he worked on Mahua spirit that’s mostly made by tribals. He revealed to Sharks what actually paved the way for the brand and his motivation to create India’s first craft distilling company. It’s field to bottle and forest to bottle brand. They asked for Rs 1 crore for 1 percent equity. Desmond explained his sales, customers, stores, net profit among other things. Even though they have remained debt free, sharks learnt his 76 percent equity is with investors. Namita felt they wouldn’t be able to scale the business. Peyush opted out due to opportunity cost and conflict of interest. Anupam and Amit followed suit. Aman suggested they…
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