The entrepreneurs show Shark Tank India has come up with Season 2 with sharks like Namita Thapar, Aman Gupta, Peyush Bansal, Vineeta Singh, Amit Jain, and Anupam Mittal. In the new season’s first episode, a product-based company called Recode Studios came to pitch their deal.
Recode Studios is a brand of makeup products that can be used daily. Dheeraj Bansal and Rahul Sachdeva are the co-founders of the company. Presently, they have a pan India presence covering 250 shops. They started using e-commerce platforms in 2021 and recently launched three franchise stores in cities like Delhi, Raipur, and Faridabad. Dheeraj Bansal, the co-founder of Recode Studios, also stated that their company was not liked by the whole of India, and he could do nothing about it. Although the company had a sizeable presence, it still needed help to get funds for itself.
There was a soar in equity for Recode Studios in the social media platforms after sharks had refused to invest in the company. This decision of sharks was based on the fact that it was a rival company to one of the sharks, Vineeta Singh. Aman Gupta and Namita Thapar used it as a significant reason to be out of this particular investment. The company’s revenue target is 30 Crores for the financial year 2023 which was 15 Crores last year.
Cosmetics and makeup is a domain that is particularly loved by women. We, the team of Alippo, motivate women who want to own their own business through our courses which include everything from cosmetics, skincare, and haircare formulations to baking and whatnot. Not only do we teach skills, but we also aid in starting their own venture. If you are someone who wants to have your own brand name, this is the story that you need to know. Although the brand could not bag a deal, it gained a lot of popularity for its pitch and products.
While sharing the journey of Recode Studios, Bansal shares that they have worked on the packaging of the products using different designs to make them look more luxurious; they were towards the minimalist side when they started, which could have given them better results. They offered to raise Rs 1 Crore for one percent equity at a valuation of Rs 100 Crore. According to these business owners, many brands like Sugar, Juicy Chemistry, Mamaearth, and so on are overvalued by ten times, so it’s just fair enough for them to raise such a deal. The co-founders have revealed that they have gained immense popularity from being on-screen on Shark Tank India Season 2. Although they could not come on board, they plan to reach out to venture capital firms and angel investors.