- Entrepreneurs: Ananya Maloo & Anushree Maloo
- Business: Intimate Deo Spray
- Ask: ₹25 lakhs for 5% equity
- Valuation: ₹5 Crore
- Result: ₹25 lakhs for 20% equity
- Sharks: Namita Thapar, Aman Gupta, and Peyush Bansal
- Episode: Season 1 Episode 10
Shark Tank Pitch:
In the competitive and dynamic world of entrepreneurship, one of the keys to success is identifying a niche market and addressing its unmet needs. Ananya Maloo and Anushree Maloo, cousins hailing from Ahmedabad, did just that when they entered the Shark Tank India show with their innovative venture, Nuutjob. Nuutjob is not your typical men’s hygiene product brand; it’s a brand created by women that offers a range of unique and essential products tailored specifically to men’s intimate care needs. Their pitch on the show was nothing short of attention-grabbing, as they dressed as men and used humor to highlight the prevalent issue of itching and infection in intimate areas.
The Sharks’ Interest and Negotiations
The Nuutjob pitch immediately piqued the interest of the sharks, who were impressed by the innovative nature of their products and the potential market they could tap into. During the negotiations, the sharks delved deeper into the business, seeking insights into the co-founders’ marketing strategy, target audience, product differentiation, and scalability plans.
In the initial stage of negotiations, Ashneer Grover and Anupam Mittal made an offer of Rs 25 lakh for a 25% equity stake, expressing their enthusiasm for the product but also pointing out concerns about the valuation. However, the co-founders received a counteroffer from Peyush Bansal, Aman Gupta, and Namita Thapar, who proposed the same investment of Rs 25 lakh but for a slightly smaller equity share of 20%. Their counteroffer emphasized their belief in the potential of Nuutjob and their eagerness to provide mentorship.
After a brief discussion among themselves, Ananya Maloo and Anushree Maloo decided to accept the second offer from Peyush Bansal, Aman Gupta, and Namita Thapar. Their rationale was that having three mentors rather than one would provide diverse perspectives and valuable guidance for their growing business. This decision marked a pivotal moment in Nuutjob’s journey, as they joined forces with three experienced entrepreneurs who shared their vision.
How Is Nuutjob Doing After Shark Tank?
Our research about Nuutjob revealed that, the deal with the sharks never closed, the reasons for this are not disclosed. However, the entrepreneurs revealed in a podcast, “Secrets of Storytellers,” that they witnessed an astonishing 2000X boom in sales after the Shark Tank episode aired. This unexpected surge in sales highlights the tremendous impact that their appearance on the show had on their brand’s visibility and customer interest.
Since its appearance on Shark Tank India, Nuutjob by Suger Cosmetics has made significant strides in the market for men’s intimate hygiene products. The brand has quickly become a go-to solution for men seeking high-quality products to address their intimate care needs.
Nuutjob has not rested on its laurels; instead, it has continued to innovate and expand its product range. Beyond its initial line of men’s intimate care products, Nuutjob has introduced additional offerings, including hair removal and brightening products for both men and women. Furthermore, the brand has ventured into subscription boxes and gift sets, catering to the diverse preferences of its customer base.
Nuutjob’s commitment to engaging with its audience is evident in its strong online presence. With over 9,000 followers on Instagram and a plethora of positive reviews on its website, the brand has successfully cultivated a loyal and engaged customer community. Additionally, Nuutjob maintains a blog where it shares valuable insights and tips on intimate hygiene and grooming, positioning itself not just as a product provider but as an educational resource.
You can check Nuutjob Products by clicking the Amazon button below!
Source: Nuutjob Instagram
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