Singh Styled Shark Tank Pitch:
Singh Styled is a brand which makes Turbans and personal care products for Sikhs. Charanjeev shared that all products from Singh Styled are non-alcoholic and gum-free. They have shipped their products across 130 countries and served over 60,000 customers so far. They sought an investment of ₹50 Lakhs for 5% of the company. Charanjeev shared that it took them 4.5 years to finalize the formation which was wax and alcohal free. At the time of the pitch, Singh Styled had 6 SKUs in beard care, 4-5 SKUs in Accessories and over 100 shades of Turbans. 40% of their business comes from Turban sales.
Their first sales year was FY19-20 where they made ₹12 Lakhs in sales. This was followed by ₹14 Lakhs in FY20-21. Singh Styled made ₹33 lakhs in Financial year 21-22. Charjeev shared that company have done ₹42 Lakhs in revenue for FY22-23 so far with month of September closing at ₹7.2 Lakhs. They were breaking even at the time of pitch. The company have also raised a round of ₹1 Crores for which they diluted 20% of the company. Singh styled had over 8 thousand Instagram followers at the time of pitch.
Singh Styled Shark Tank Negotiations & Funding:
Anupam was the first shark to go out of the deal because of its small market size. Namita follows his lead due to the lack of a marketing team and low sales for a 7-year-old venture. Vineeta goes out citing it is not investable at this stage of business.
Peyush gives the first offer of ₹50 lakhs for 20% of the company. Aman goes out citing the company already has another good offer. Peyush adds that he would be an active investor in this company and help lead the venture to success. The founders counter Peyush at ₹50 Lakhs for 10% which Peyush accepted with a condition that he would have an option to invest another ₹75 lakhs at same valuation. Charanjeev agreed to that and they shook hands on that deal.
Who is the founder of Singh Styled?
Charanjeevi Singh Salva founded Singh Styled in 2016. Ashwath Poojari was also present during the pitch and he leads the operations team in the company and Charanjeev is the CEO and founder.
How is Singh Styled doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Peyush Bansal did not close after the show aired. Despite this hiccup, Shark Tank show gave a lot of exposure and validation to Singh Styled as a brand and they have been thriving since their appearance in Season 2. As of December 2023, Singh Styled has around 30 thousand Instagram followers and have made a strong place in market for personal care products for Sikhs. While their Financials are still unknown, we will update this article as soon as more information comes to light!
Source: Instagram @singhstyled
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