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Turms: Shark Tank India Season 3

Prachi Sharma

By Prachi Sharma

  • 5 mins read
  • 6th February, 2024
Turms: Shark Tank India Season 3

Introduction

Turms, an innovative apparel fashion brand established in 2016, boasts a distinctive product range with unique features. Originally founded by someone else, the brand underwent a revival in 2022 under the current owner, Surender Singh Rajpurohit. Offering apparel for both men and women, Turms' notable products include Anti-stain Shirts, Anti-stain/odor Polo T-shirts, 30 Days No Wash Jeans, and 7 Days No Smell Socks. You can also enroll in the stitching and tailoring course at Alippo.

StartupTurms
FounderSurender Singh Rajpurohit
Ask₹ 1.2 Crores for 2% equity
Deal1.2 Crores for 4% equity
Sharks OnboardedAzhar Iqubal

All About the Pitch

Surender Singh Rajpurohit, the founder of Turms, sought funding on Shark Tank India. He clarified that he acquired only the brand, not the business, and urged investor Peyush Bansal to contact the old founders for funding updates. During the pitch, Surender showcased his products, impressing the sharks with their quality and technology.

Post-pitch, Turms' founder requested INR 1.2 Crores for 2% equity at a valuation of INR 60 crores. Notable interactions with the sharks included Azhar Iqubal inquiring about the acquisition process, Peyush Bansal questioning the old founders' lack of response, Vineeta Singh wanting to understand the technology, and Anupam Mittal expressing reservations about the designs.

Despite multiple offers from Aman Gupta, Anupam Mittal, Azhar Iqubal, and Vineeta Singh, Surender Singh opted for Azhar Iqubal's deal of INR 1.2 Crores for 4% equity at a valuation of 30 Crores. This deal was sealed with Azhar Iqubal, the founder and CEO of Inshorts.

Takeaways from the Pitch

From this pitch, we can discern five key skills demonstrated by Surender Singh Rajpurohit, the founder of Turms:

1. Effective Communication

Surender showcased adept communication skills by clearly addressing the change in ownership and emphasizing the importance for potential investors to connect with the old founders for funding updates.

2. Strategic Negotiation:

Surender demonstrated negotiation prowess during the funding discussions, securing a deal that aligned with Turms' valuation and equity requirements.

3. Product Demonstration:

The founder effectively showcased Turms' products, highlighting their unique features and quality, which played a crucial role in impressing the sharks.

4. Adaptability and Resilience

Surender's ability to revive Turms after acquiring only the brand, not the business, reflects adaptability and resilience in navigating challenges associated with the brand's history.

5. Business Acumen:

Surender exhibited a keen understanding of business dynamics by explaining the distinction between acquiring the brand and the entire business, showcasing a strategic approach to brand revival and growth.

Faq's

Frequently Asked Questions

What sets Turms apart in the apparel industry?

Turms distinguishes itself with innovative features like anti-stain and anti-odor technologies in their shirts and polo T-shirts. Additionally, their product range includes unique items like 30 Days No Wash Jeans and 7 Days No Smell Socks.

Surender Singh Rajpurohit is the founder of Turms. He acquired the brand in 2022 and successfully revived it after addressing challenges from the past. Surender's strategic approach and effective communication played a pivotal role in securing a deal on Shark Tank India.

During the pitch, Surender Singh Rajpurohit showcased Turms' products, impressing the sharks with their quality and technology. Despite initial challenges with the old founders, Surender secured a deal of INR 1.2 Crores for 4% equity at a valuation of 30 Crores with Azhar Iqubal, the founder and CEO of Inshorts.

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