- Entrepreneurs: Radha Krishna Choudhary
- Business: Hair and skincare products
- Ask: ₹ 2.8 Crores for 0.5% Equity
- Valuation: ₹560 Crore
- Result: No Deal
- Sharks: No Deal
- Episode: Season 2 Episode 17
Avimee Herbal Shark Tank India Pitch:
Avimee Herbal, a startup founded by 86-year-old Radha Krishna Choudhary, specializes in creating hair and skincare products that blend Ayurvedic and modern ingredients. Launched in August 2021, the startup has rapidly expanded its product line from three to 27 offerings. These products are accessible through the company website and major online marketplaces like Amazon.
Remarkably, Avimee Herbal reported sales of INR 6.5 crore in FY22. The monthly split was at 95 Lakh, 1.25 Cr, 1.25Cr, 1.75 Cr, 1.65 Cr for the months of April May June July and August 2022 respectively achieved without any marketing expenditure. Their products were approved in Dubai at the time of filming so they were expecting the sales to be over 20 Cr by the end of the year. 88% of their sales come from their own website and the rest comes from Marketplaces. Their repeat rate is at 32%.
The team, which included Choudhary, his daughter Vinita Aggarwal, his grandsons Vibhor and Siddhant Aggarwal, and Siddhant’s wife Ambika Aggarwal with Vibhor, Ambika, and Vinita each having 1/3 of the equity and Siddhant being the managing director. In their pitch, they sought an investment of INR 2.8 crore in exchange for a 0.5% equity stake, valuing the company at INR 560 crore.
Avimee Herbal Shark Tank India Negotiations:
The sharks were visibly impressed by the team’s unwavering passion, particularly Radha Krishna Choudhary’s lifelong dedication and vision. They commended the startup not only for its innovative products but also for its significant social impact, providing employment opportunities to rural women involved in product manufacturing. However, the sharks expressed concerns about the company’s scalability, profitability, and regulatory compliance. They questioned the valuation, deeming it high for a relatively new venture, and requested evidence of the product’s effectiveness, safety, customer feedback, and testimonials.
Peyush, Namita, and Aman go out citing the valuation is too high, Amit gives his offer at ₹1Cr for 2.5% equity and 1.8 Cr as debt@12% valuing the company at 40 Cr. Anupam offered 70 Lakh for 2% of the company and the rest as a debt @15% valuing the company at 35 Crores. Ultimately, the team decided to decline both offers, believing that they were relinquishing too much equity. The episode concluded with the team leaving the tank without a deal, but they departed with respect and admiration from the sharks. The sharks wished them success in their future endeavors and encouraged them to continue pursuing their dreams.
How is Avimee Harbal doing After Shark Tank India?
Our research on Avimee Herbal has unveiled that notwithstanding their inability to secure an agreement on Shark Tank, the company is experiencing robust growth. They have cultivated a formidable online presence and have garnered recognition as the foremost hair care brand on Amazon in India. Moreover, Avimee Herbal has successfully distributed its products to a global customer base spanning over 100 countries and has fostered a community exceeding 600,000 users on Instagram. Their product range is accessible through various online marketplaces as well as their website.
In February of 2024, Avimee herbal founders claimed that they were offered ₹500 Crore for their business which they refused because of their commitment to quality instead of profits.
To stay informed about the latest developments concerning Shark Tank-affiliated companies, we encourage you to subscribe to our newsletter. Here are the other companies from Season 2 Episode 17!
2 thoughts on “Avimee Herbal Founder, Net Worth and After Shark Tank Update”