Nestroots Shark Tank Pitch:
Nestroots, a home furnishing and decor brand, gained attention after its feature on Shark Tank India Season 2 Episode 9. On their website, they offer a diverse range of affordable decorative items, kitchen decor sets, furniture, and more. They offer Unique, functional products at affordable prices. Their Unique Selling Proposition is Elegant aesthetics & Unique designs and are built with superior quality. They are also available across all marketplaces along with their website. Nestroots have sold over 1 Lakh products so far and their vision is to become a go to brand for home decor in India.
They have 5 major categories which also have additional 28 sub-categories under them. The first category is Furniture which is a best seller on Amazon, the second is kitchen & dining products, third is serveware. Additionally, they also have barware products and Furnishing. Furniture makes up 55% of their entire business.
Their monthly average sales are at ₹98 Lakh after GST. Around 25% of their sales comes from their own website and rest from marketplaces. Their gross margins are at 70-75%. Net profits are between 16-19%. Their net sales for FY21-22 was at ₹7.2 Crores with net profit of 15%. They are hoping to close this year at ₹15 Crores. The founders shared that they only spend 5% of revenue in the marketing. They have raised ₹35 lakh at ₹18 Crore valuation.
Nestroots Shark Tank Negotiations & Funding:
Vineeta goes out of the deal due to a conflict of interest with another company she invested in. Namita gives the first offer of ₹50 lakh for 2% of the company. Aman goes out after hearing Namita’s offer but he suggest that company should focus more on the marketing spend. Anupam thinks that it will get very competetive in future so he steps out of the negotiations. Peyush was interested and wanted the offer ₹50 Lakh for 5% which he didn’t because he thinks Namita’s offer is great. Chhavi accepted Namita’s offer without any negotiations and they shake hands on that.
Who is the founder of Nestroots?
Chhavi Singh founded Nestroots. She is from Delhi. He has 10 years of experience in the Industry. first 5 years she worked in sales and operations and the rest 5 years in training & development. She comes from a family of entrepreneurs.
How is Nestroots Doing After Shark Tank India?
Our research in the company revealed that despite their initial agreement on Shark Tank India show. Their Deal with Sharks did not close after the show aired. Despite that hurdle, The company continues to grow and move in the right direction. As of December 2023, They have over 80,000 Instagram followers.
Source: Instagram @nestroots
Here are other companies from Season 2 Episode 9.
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