How is Aretto doing after Shark Tank India?

Founders: Satyajit Mittal
Business: Footwear
Ask: ₹80 Lakhs for 1% Equity
Valuation/ Networth: ₹80 Crores
Funding: No Deal
Sharks: No Deal
Episode: Season 3 Episode 6

Aretto Shark Tank India Pitch:

Aretto, a shoe brand, engineers shoes that naturally expand up to 3 sizes. These shoes showcase three distinct features. First, the Super Grooves technology, inspired by nature, seamlessly adapts to the growing feet of children. The second feature is the Infiknit fabric, a 3D netted fabric known for its stretchability and durability. The third feature is the Squishy Foam, dynamically adjusting to the foot’s shape, delivering both support and flexibility. The development of this technology involved two years of active research and development (R&D) and has received patent approval.

Aretto Financials during Shark Tank India:

In the last 11 months, Aretto has sold 20,000 pairs of shoes through its own website and has recently expanded its presence to various marketplaces. Additionally, they have opened an exclusive brand outlet in Pune. Currently, they boast an 8% repeat customer rate.

In November ’23, the company achieved sales of ₹60 lakhs with ₹11 lakhs burn. Out of this, ₹30 lakhs in sales were generated through their own website, ₹12.5 lakhs through the outlet, ₹10 lakhs from events and exhibitions, and ₹5-6 lakhs from marketplaces. For December ’23, they anticipate sales of ₹72 lakhs.

For the fiscal year ’23-24 (up to November), Aretto has achieved ₹3 Crores in sales, and they project to close the year with an impressive ₹6-7 Crores. The average order value is ₹2000, with a gross margin of 57% and an EBITA of 20%.

Who are the founders of Aretto?

Aretto is founded in 2022 by Satyajit Mittal. He is 31 year old. He is the winner of IF design Award(Germany), Red dot design award and Good design award(Japan).

Aretto Shark Tank India Negotiations & Funding:

Aman expressed disappointment with the founder, citing unclear answers as the primary reason for his decision to opt out. Additionally, Peyush, who had previously worked with the company during its initial phase, faced challenges that prevented the deal from closing, ultimately leading him to opt out of negotiations. Namita voiced concerns about the scalability of the shoes from a consumer perspective. She noted that children prefer more attention-grabbing footwear; consequently, this influenced her decision to opt out. Similarly, Vineeta decided to opt out due to the high production costs of the shoes and uncertainties about the future. Concurrently, Anupam, considering various factors, made the decision to opt out as well.