- Founder: Himanshu Adlakha & Nikita Adlakha
- Business: Personal Care Appliances
- Ask: ₹ 1 Cr for 4% Equity
- Valuation/Net worth: ₹25 Crores
- Result: ₹ 1 Crore for 10% Equity
- Sharks: Anupam Mittal And Vineeta Singh
- Episode: Season 2 Episode 5
Winston Shark Tank India Pitch:
Winston Electronics was established in 2021 to provide women with personal care appliances. They also offer a range of skincare essentials that integrate high-end technology to deliver an optimal salon experience at home.Currently, they offer 8 products and sell them through their website and e-commerce platforms.
All of their products are manufactured in China and labeled in India. Currently, they have two vendors in China. Winston shared that, In the fiscal year 2021-22, they achieved INR 1.2 crores in sales, and by July of the fiscal year 2022-23, they had already exceeded INR 1.5 crores in sales. They also shared that they aim to close the fiscal year 2022-23 with INR 6 crores in sales, with a significant portion of their sales (46%) coming from face and eyebrow trimmers. Additionally, They are hoping to do 18 Crore in FY 2023-24.
In July 2022, they recorded MRP sales of INR 42 lakhs. The breakdown of which comes with the cost of the product was 30%, and they offered a 30% discount. They allocated 15% for marketing, 5% for salaries, and 5% for other expenses. Therefore, resulted in a profit of INR 3.44 lakhs. Their also shared that their complaint rate is under 0.5%.
Winston Shark Tank India Negotiations:
Namita was the first Shark to opt out due to concerns about Chinese products and trust in Chinese quality. She also adds that the products are gimmicky. Peyush also chose to opt-out because he thinks its a tough category and Aman may be a good investor for them. Aman also goes out citing that he already invested in the brand which would be competing with them. He later clarifies that the brand is going to be Misfit by boAt which would sell trimmers. Anupum and Vineeta offered INR 1 crore for 10% equity, and the deal was finalized.
Who are Winston Founders:
Winston was founded by Himanshu Adlakha & Nikita Malhotra who hails from Fridabad. Nikita know after college that she is going to start her own business so she started Importing international products which were not available in india and sell them through Instagram. She also brought her dad in the business and turn that into a skincare brand. Himanshu’s family background is in electronics so he learned everything about electronics by his family. They started Winston a month after their marriage. They were arranged for their marriage.
What happened to Winston after Shark Tank India:
Our research into the company revealed that their Shark Tank deal with Vineeta and Anupam went through, and the company is thriving in 2023. The company’s founder, Nikita Adlakha, shared on a podcast, Adorn Talks, that they had a once-in-a-lifetime experience on Shark Tank, and they felt like celebrities after that. Nikita mentioned that the visibility of their product and the acceptance from customers after the show was overwhelming. She also expressed her satisfaction with the edited version of the pitch that aired.
She mentioned that right after the show aired, they achieved a month’s worth of revenue in just a few hours. At one point, their website traffic experienced a 30x growth. She also mentioned that, despite being well-prepared, they still ran out of stock for some of their products. She said that even though they didn’t discuss blow brushes on Shark Tank, that product also went out of stock. As of summer 2023, Winston had 20 SKUs available on their website.
Source: Winston Instagram
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