Conscious Chemist stands out as a skincare brand dedicated to delivering a comprehensive range of products addressing various skin concerns, including acne control, hyperpigmentation treatment, pore reduction, and serums for radiant skin and body pigmentation. Their commitment extends beyond individual skin well-being, aiming to create products that are not only safe for diverse skin types but also environmentally friendly. You can also enrol in the skin care formulation online course at Alippo.
Conscious Chemist, founded by Robin Gupta and Prakher Mathur has a direct-to-consumer (D2C) approach, offering functional and highly effective skincare solutions. Rather than presenting an alternative, the brand positions itself as a fundamental choice for today's informed and conscientious consumers. With a scientific foundation, Conscious Chemist provides evidence-based solutions across a diverse product line. This encompasses face masks, sunscreens, body creams, performance serums, gifting items, and more.
|Robin Gupta and Prakher Mathur
|₹ 60 lakhs for 2% equity
All About the Pitch
Interactions with the sharks revealed varying opinions. Namita Thapar praised the SPF-50 sunscreen, highlighting its fast absorption and effective hydration. Vineeta Singh commended the product packaging and hinted at potential investment interest from her network. Aman acknowledged the product quality but noted a deficiency in promotional efforts, while Amit Jain expressed dissatisfaction with the brand's marketing strategies. Despite having served an impressive customer base of over 3 lakh individuals, the founders faced challenges in convincing the sharks to invest.
Ultimately, Conscious Chemist failed to secure an investment in Shark Tank India, as the founders sought INR 60 lakhs for a 2% equity stake at a valuation of INR 30 crores. Anupam Mittal, suggesting an alternative route, advised the founders to explore fundraising opportunities outside the show with their previous investors. Despite the setback, Conscious Chemist remains a notable player in the skincare industry, committed to delivering scientifically-backed products with a conscious edge.
Takeaways from the Pitch
From the founders' pitch on Shark Tank, we can glean several key skills and lessons:
Communication Skills: The founders effectively communicated their brand's unique selling points. Clear and articulate communication is crucial in conveying a compelling pitch.
Product Knowledge: Demonstrating an in-depth understanding of their skincare products, the founders highlighted the science-backed nature of their brand. This showcased their expertise and confidence in the efficacy of their offerings.
Market Awareness: The founders showed awareness of the market by positioning their products not just as alternatives but as fundamental choices for informed consumers.
Sales and Customer Numbers: Sharing the impressive statistic of serving over 3 lakh customers provided evidence of market traction. Demonstrating strong sales and a substantial customer base adds credibility to the business.
Valuation and Negotiation: The founders presented a clear valuation and equity proposition. Despite not securing a deal, their negotiation skills were evident in putting forth a specific ask and valuation, showcasing confidence in their business worth.
Resilience: Facing rejection from the sharks, the founders remained composed and resilient. Resilience is a crucial entrepreneurial trait, especially in situations where securing investments or deals may not go as planned.
Adaptability: Anupam Mittal's suggestion to explore funding outside the show showcased the founders' adaptability. Being open to alternative paths and strategies is crucial in the ever-changing business landscape.
These skills collectively contribute to the founders' ability to present a compelling case for their business, navigate challenging questions, and showcase the potential of Conscious Chemist as a viable and impactful skincare brand.