Despite impressing Anupam Mittal and getting an offer from the shark, Karishma Kewalramani, founder of FAE Beauty, turns down his offer.
Shark Tank India Season 4 premiered on January 6, 2025, and the viewers have already gotten to see three dramatic pitches. Entrepreneur and founder, Karishma Kewalramani appeared on the show to pitch for her inclusive beauty brand, FAE Beauty. Her pitch was able to impress all of the five sharks on the panel, including co-founder and CMO of BoAt lifestyle, Aman Gupta, executive director of Emcure Pharmaceuticals, Namita Thapar, co-founder and CEO of Lenskart, Peyush Bansal, co-founder and CEO of Sugar Cosmetics, Vineeta Singh and co-founder and CEO of People Group, Anupam Mittal.
During the pitch, Aman Gupta even seemed to flirt with the FAE Beauty founder, Karishma Kewalramani. The entrepreneur mentioned that she had previously worked on film sets and TV as a makeup artist after returning from the US. Aman responded with a smile, "You didn’t work at Shark Tank?" Karishma had asked for Rs 1 crore in exchange for 1 per cent of the equity in her company. However, she revealed that it was because she previously diluted 38 per cent of her company in funding.
Peyush Bansal was impressed by the founder's dedication to keep her company running at any cost. Namita asked Karishma how she planned on competing with foreign brands like Estée Lauder, which planned on launching more affordable products in the Indian market. Karishma's response left the sharks impressed. She was quoted saying:
"Pehle toh main darti nahi hoon"
Karishma Kewalramani's pitch for her brand Free And Equal (FAE) Beauty impressed all the sharks. Vineeta Singh, who runs a successful cosmetic brand herself, shared that she has heard of the brand herself and was impressed with their packaging and branding. However, she opted not to invest in the brand, citing that she found no sense in investing in a brand for such low equity. Nonetheless, that didn't stop the other sharks from placing their bids.
Aman and Namita put forward a joint offer to Karishma of Rs 1 crore for 3per cent equity, which Peyush matched. Anupam, on the other hand, offered Rs 1 crore in exchange for 3.3 per cent equity. Karishma, though looked torn between the choices, opted to counter their offer, asking for Rs 1 crore in exchange for 1.3 per cent. She revealed that she didn't want to dilute herself further. Anupam offered her Rs 1.5 crore for 3 per cent, and Namita and Aman countered by offering Karishma Rs 1 crore for 2 per cent. After some further negotiations, Karishma accepted Aman and Namita’s offer, and the deal was finalised at Rs 1 crore in exchange for 1.5 per cent equity.
Karishma Kewalramani said that for four years, her company suffered immense losses, but things turned around last year. She revealed that her brand, FAE Beauty, had become profitable for the first time. She also shared how she took FAE from registering losses as high as Rs 2.5 crore in one year to generating Rs 1.2 crore in profits. In her post-pitch interview, Karishma stated how being profitable for the first time empowered her to stand up for what she felt she deserved.
What are your thoughts on Karishma Kewalramani's pitch on Shark Tank India 4?
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