- Founder: Parul Gulati
- Business: Hair extensions for women
- Ask: ₹ 1 Crore for 2% Equity
- Valuation: ₹50 Cr.
- Result: ₹ 1 Crore for 2% Equity
- Sharks: Amit Jain
- Episode: Season 2 Episode 50
Nish Hair Shark Tank India Pitch:
Nish Hair is a hair extension brand that addresses various hair-related issues and offers styling versatility for women. 60% of women in India have hair loss problems. Founded by Parul Gulati, an actress known for her role in the web series “Girls Hostel,” the brand caters to those dealing with hair loss, damage, thinning, or who enjoy experimenting with different hairstyles. During the finale of Shark Tank India Season 2, Parul Gulati pitched Nish Hair, seeking a Rs 1 crore investment for a 2% equity stake. Nish Hair products are available for purchase through their own website and Amazon.
The brand was started in 2017. They made 80 Lakh in sales for the month of Oct ’22, 79 Lakh in Sept ’22, and 64 Lakh a month before. They closed FY21-22 at 6.7 Crores, with a net margin of 30%. Their projections for FY22-23 are 15 crores. Nish Hair has 2.45 Lakh followers on Instagram, and Parul also promoted the brand on her personal account, which has 12 Lakh followers. Most of their sales come directly from their own website. Their marketing spend is at 1.3 Lakh per month. Long hair extensions sell for 1300, and short hair extensions for 850. The cost is 350 and 300, respectively. The average customer spend is at 5000.
Nish Hair and Shark Tank Negotiations:
Namita goes out because she was not interested in the market and did not have the expertise to help the brand. Anupam goes out because he is an investor in another Shark Tank company, Hair Originals, which is a direct competitor. Peyush goes out, citing that the journey may be difficult as Parul wasn’t willing to dilute the company in the long run. Amit puts in an offer for exactly what she asked for. While both Aman Gupta and Vineeta Singh offered the same amount for 3% equity, Amit Jain decided to meet her requested terms, and she accepted his offer.
Do you think it was the right deal for Nish Hair and Amit Jain? Let’s find out!
How is Nish Hair doing after Shark Tank India?
Our research on Nish Hair revealed that the deal with Amit closed and the company is thriving! As of September 2023, they have over 5 Lakh followers on Instagram, and their product has been linked to many celebrities like Priyanka Chopra and Madhuri Dixit. Parul shared on Instagram:
“All heroes don’t wear capes & he is my real-life hero. I have immense respect & regard for this man @amitjain_cardekho. I can’t describe in words how much you inspire me & how I wish I can build an empire, a legacy like you’ve built.”
Instagram: @gulati06
Image Sources: Nish Hair Instagram
Here are the other companies from Season 2 Episode 50!
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