- Founder/Owner: Shelly Bulchandani
- Business: Hair Extension Brand
- Ask: ₹30 Lakhs for 3% Equity
- Valuation/ Net worth: ₹10 Crores
- Funding: ₹30 Lakhs for 3% Equity
- Sharks: Aman Gupta
- Episode: Season 3 Episode 32
The Shell Hair Shark Tank India Pitch:
The Shell Hair, an Indian startup, was featured on Shark Tank India Season 3 Episode 32. Their products, made from 100% natural Remi Hair, include hair extensions, toppers, bangs, colorful streaks, and more. They distribute their products through both offline and online channels, offering them at prices 30%-40% lower than those of their competitors. Additionally, many of Shell Hair’s customers are alopecia patients.
The Shell Hair Financials & Revenue during Shark Tank India:
In FY 22-23, they achieved ₹36 lakhs in sales. However, in Aug ’23, sales decreased significantly to ₹12 lakhs, further dropping to ₹7 lakhs the following month. Nonetheless, their sales rebounded in Oct ’23, reaching ₹9.73 lakhs. They maintain a healthy 35% margin. The price for the Shell Messy Bun Scrunchie is ₹1,895, which is notably lower than the ₹3,000 price tag of other brands. Additionally, the average order value of Shell Hair is ₹5,000. As for customer acquisition, 82% come through the website, 8% from Amazon, and 10% from exhibitions.
Who are founders of The Shell Hair?
Shell Hair was founded by Shelly Bulchandani, a 24-year-old from Ajmer, Rajasthan. She is pursuing a Master of Science in Information Technology from Aryan College, Ajmer. Shell Hair started in Aug ’20 with an initial investment of ₹2,000.
The Shell Hair Shark Tank India Negotiations & Funding:
Anupam made the initial offer of ₹30 lakhs for 10% equity. In contrast, Aman offered ₹30 lakhs for 5% equity. Nimita expressed concerns about the product quality and advised the founder to focus on improving quality and design and sideline from negotiations. Ritesh believed that the founder needed additional funds to execute the strategy effectively and proposed ₹60 lakhs for 6% equity. Amit opted out, citing concerns about the product’s inferiority. Anupam revised the offer to ₹30 lakhs for 3% equity. Aman also revised the offer, matching Anupam’s terms. The founder ultimately chose to strike a deal with Aman, and the agreement was finalized.
How is The Shell Hair doing after Shark Tank India?
Our research into The Shell Hair revealed that while they did secure a deal on Shark Tank, whether that deal closed is still unclear. It could be because they are still in the due diligence phase.
As of March 2023, The company is experiencing growth due to the shark tank effect, and they currently have 17.9K Instagram followers. We will update this article with financials and deal closure once more clarity comes to light. In the meantime, you can check out their products through Amazon by clicking the button below!
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Source: Instagram @theshellhair
Here are other companies from Season 3 Episode 32.