How is aastey Doing After Shark Tank India?

Founder/Owner: Jeevika Tyagi & Kanupriya Mundra
Business: Apparel Brand
Ask: ₹80 lakhs for 2% Equity
Valuation/ Networth: ₹40 Crores
Funding: No Deal
Sharks: No Deal
Episode: Season 3 Episode 23

aastey Shark Tank India Pitch:

aastey is India’s first sustainable and size-inclusive athleisure wear company. They appeared on Shark Tank India Season 3 Episode 23. Their product line includes sports bras, leggings, tank tops, and other products. Their leggings come in 3 lengths and 8 different sizes. aastey also manufactures their products with 100% recycled polyester to support sustainability. The founders’ vision is to make clothing for all women regardless of weight and size. To fulfill this, they sought an investment of ₹80 lakhs for 2% of the company, valuing the venture at ₹40 Crores.

aastey started in 2021, and the founders spent 1 year in research and development to create high-quality recycled polyester products. They started about a year and a half before their pitch through their own website, and they are now also available on marketplaces. They have sold over 20,000 units by the time of their pitch. The company also had over 2 lakh followers on their Instagram account. The founders added that their first manufacturer who made their EUL leggings is also the manufacturer of the Canadian giant Lululemon. Also, Some of their products are manufactured in India.

aastey Revenue & Financials during Shark Tank India:

aastey has priced their products in the range of ₹1,200-2,500. The founders added that they are targeting the mid-luxury segment of this market. Also, As their sales started in 2022, they have a lifetime sales of ₹3.2 Crores. As their pitch was shot in December 2023, they have done ₹15 Lakhs in revenue in the 3 months prior to that.

aastey has already done an investment round where they raised ₹10 Crores at a ₹40 Crore valuation. This round was finalized and closed in February 2022 when the company was still in the pre-revenue stage. In November, aastey made revenue of ₹1.7 Lakhs. Further, The founders added that they have spent all the money raised already on products and marketing and have no more runway left. Moreover, They currently have an inventory worth ₹1.52 Crores which has been sitting for about 6 months. However, They have liabilities of ₹1 Crore which they need to pay, and they have ₹30 Lakhs in receivables.

aastey Shark Tank India Negotiations & Funding:

Aman felt like the Indian consumer is not yet accepting the brand and founders need to realize that. Due to this, He choose not to invest. Namita also shared the same sentiment and suggested the founders rethink their business model. Therefore, she also chose not to move forward with the investment. Peyush added that the company needs another co-founder, not an investor, therefore he also bows out of these negotiations. Vineeta goes out because she felt like the founders didn’t do much to move their inventory. Anupam goes out because he felt like the founders are still learning the commercial side of businesses. aastey walked out of the Tank without a deal.

Who are the founders of aastey?

Jeevika Tyagi & Kanupriya Mundra founded aastey. Jeevika’s hometown is Delhi but she is currently based in Mumbai, and Kanupriya’s hometown is Mumbai but she lives in Bangalore. Jeevika has a dual degree in finance and marketing from Drexel University in Philadelphia, USA. Kanupriya studied marketing at Columbia University in New York.