- Entrepreneurs: Malvica Saxena
- Business: Apparel
- Ask: ₹35 lakhs 5% Equity
- Valuation: ₹7 Crore
- Result: ₹35 lakhs for 24% equity
- Sharks: Anupam Mittal and Vineeta Singh
- Episode: Season 1 Episode 21
The Quirky Naari Shark Tank Pitch:
Quirky Naari, a dynamic startup at the intersection of digital platforms and technology, is dedicated to promoting unique fashion trends among millennials and Gen-Z. Established in 2018 within Malvica’s bedroom, it has rapidly evolved into India’s premier printed denim brand. This innovative company, specializing initially in fully customized products, has expanded its horizons to include standardized items. Impressively, Quirky Naari has garnered endorsements from numerous celebrities, including a standout shoutout from Priyanka Chopra on Instagram.
At the time of the pitch, Quirky Naari boasted an impressive following of over 26,000 on Instagram, with a revenue of 15 lakhs for the current year.
The Quirky Naari Shark Tank Negotiations:
During the pitch, Quirky Naari’s footwear line captivated Vineeta, leading to a thoughtful gesture by Malvica: custom-made shoes featuring the campaign slogan “Bold And Free,” which resonated with Sugar Cosmetics’ motto. She also gifted custom T-shirts to the other sharks. Collectively, Vineeta, Aman, and Peyush advised Malvica to focus exclusively on footwear, as the clothing line did not meet their criteria.
Vineeta extended the first offer, proposing 20 lakhs in equity and 15 lakhs in debt for a 20% stake. Anupam contemplated a separate offer but ultimately chose to align with Vineeta, recognizing her invaluable expertise. Peyush opted out of negotiations, given his primary interest in the custom product segment. Aman also withdrew his interest, expressing the belief that Malvica’s primary focus was on Vineeta. Ashneer, while withdrawing his offer, underscored Vineeta’s potential to assist Malvica in building a thriving business. Aman suggested that Malvica should consider partnering exclusively with Vineeta and dismiss Anupam.
Anupam and Vineeta subsequently adjusted their offer to 35 lakhs for a 25% stake, valuing the company at 1.40 Crores. Following further negotiation, they reached an agreement at 35 lakhs for a 24% stake. Now, let’s explore whether the sharks made the right investment choice.
How is The Quirky Naari doing After Shark Tank:
Our research reveals that Quirky Naari has continued to flourish since its appearance on Shark Tank They closed their Deal with Sharks as well. As of October 2023, the company boasts a robust Instagram following of over 80,000 and maintains a consistently updated online presence. Notably, Malvica and the sharks appear to have successfully implemented the strategies discussed in the Tank. The brand has now strategically refocused on footwear, with the exception of customizable T-shirts.
Picture source: The Quirky Naari Instagram
Here is how other companies from Season 1 Episode 21 are doing.
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