Shark Tank Avimee Herbal
In this episode of Shark Tank India Avimee Herba, a haircare and skin care product made from a mixture of ayurveda and science, present their pitch. Will they get a deal from the sharks? To know about the deal read till the end.
| Company name | Avimee Herbal |
| Founders | Siddhant Agarwal, Ambika Agrawal, Radha Krishna Choudhary, Vinita Agrawal and Vibhor Agarwal. |
| Ask | ₹2.8 crores for 0.5% equity |
Avimee Herbal Founders
Siddhant Agarwal, Ambika Agrawal, Radha Krishna Choudhary, Vinita Agrawal and Vibhor Agarwal. RK Chaudhary was born in Bihar and did graduation in commerce from there. Siddhant looks after the operations in the company. Ambika looks after the marketing work of the company and she herself has 400000 followers on Instagram. Ambika, Vinita and Vibhor have 33.3% equity in the company.
About the company Avimee Herbal
RK Agarwal has always been interested in Ayurveda and has done much research on it in past years. Seeing Ambika’s hair fall post covid RK Agarwal decided to solve this problem. And hence he made oil from his research. Avimee is a mixture of ayurvedic and modern science. They made a range of hair care and skin care products. They started the company in 2021 and today they have 27 products in the market. Their vision is to solve the hair and skin problem of people. On Amazon, they are at 9th on the bestseller list. Out of total sales products, 50% of sales come from kesh pallav oil, 30% of sales come from hair tone spray, 20% sales come from other products. The repeat rate is 32%. Currently, they are on rental premises for coming years sales they need to set up a factory for 5 to 6 crores.
Ask by the Owners Avimee Herbal
The owners made an ask of 2.8 crores for 0.5% equity of the company at a valuation of 560 crores.
Avimee Herbal Sales And Revenue
In FY 21 to 22 the net sales are 6.5 crores. The sales in April 22 is 65 lakhs, in May and June it’s 1.25 crores, in July 1.75 crores and in August 1.65 crores. In FY 22 to 23 projected sales are 20 crores which may increase as they get orders from Dubai. Dubai is one of the largest international markets and the first order from Dubai is worth 1 crore. Out of total sales 85% comes from their own website and the rest comes from the marketplace. Gross margin is 69%. The cost price of one bottle of Kesh pallav oil is ₹550, out of this GST is ₹100, net sale is ₹450, material cost is 135, labor cost is 5 packaging cost is 10, shipment charges and overhead is 95. So the profit before tax is 200.
Shark Tank Solinas
Offers and counter offers
Amit gave an offer of 1 crore for 2.5% equity of the company at the valuation of 40 crores and 1.8% debt at 12% interest rate
Anupam Anupam gave an offer of 70 lacs for 2% equity of the company at the valuation of 35 crores and 2.1 crore debt at 15% interest rate
The founders gave a counteroffer of 2.8 crores for 1.5% equity.
Avimee Herbal Final deal
The founders didn’t accept any deal so no deal was finalized.