Ravel Shark Tank India Pitch:
Ravel, a hair care brand established in 2021, has gained significant traction by offering personalized hair care solutions through a comprehensive science-backed test that customers fill out. This test covers diverse aspects such as gender, hair type, lifestyle, stress levels, specific hair concerns, and more. Unlike other brands relying solely on algorithms, Ravel combines customer input with the expertise of hair professionals, resulting in 50 billion unique product combinations. Their made-to-order approach crafts individualized blends of natural ingredients for each customer. All their products are made in India. They had over 2 Lakh customers so far and Ayush’s vision is to go global with this brand.
Their Current Annualized Revenue Run-Rate is of ₹5 Crores with last month’s(July 2022) sales at ₹41 Lakh. Ayush Shared that their sales between Jan’21 -March’22 were at ₹1.55 Crores and year to date for FY22-23 ₹1.4 Crores with only 4 months covered in this year so far. Their company is completely bootstrapped. Our of ₹41 lakh in last month, after taxes/discounts, their net comes to ₹35 lakh and they spent around ₹10 Lakh in marketing last month. They have 27% repeat rate at 3 month mark and 35% at 6 month mark. Their Net profit for last month was at ₹5.5 Lakhs.
For month-on-month growth, Ravel made ₹15Lakh in April’22 followed by ₹25 Lakh, ₹32 Lakh and ₹40 lakh in May, June and July respectively. All their sales come from their website and 100% come from Hair Care products. They are planning to launch in marketplaces in the next couple of months and have also just expanded into body-care products.
Ravel Shark Tank India Negotiations and Funding:
Aman comments that this company’s strategy seems like a half-baked cake and he recommends Ayush do more research on the company. Given that, he goes out of the negotiations. Namita goes out because of a conflict of interest with her other Shark Tank Investment, Auli Lifestyle. Vineeta goes out citing challenges in managing SKU and Inventory.
Peyush says that the brand is missing a wow factor and lacks product differentiator therefore he goes out of the deal as well. Anupam feels like Ayush needs to build a team and therefore profitability will take a hit. He asks what are the projections after 2 Months, Ayush shares that revenue will be ₹75 lahks with ₹7.5 lakhs in profits. Given that, Anupam offers ₹75 lakh for 10% with the condition that those numbers need to be accurate in 2 years. The company counters but Anupam refuses that he is going to stick with his offer and its non-negotiable. Ayush accept that offer after some thought.
Who is the founder of Ravel?
Ayush Mahesh Varma Founded Ravel in 2021. He comes from Amravati, Maharashtra. He has done engineering in Computer Science and always wanted to entrepreneur. Ayush thought of this idea while on his backpacking trip across India.
How is Ravel doing After Shark Tank India?
Our research into the company revealed that their Shark Tank India Deal with Anupam Mittal did indeed close after the show and the company is thriving. As of December 2023, the Company continues to grow and has over 60,000 followers on Instagram. while the financials of the Ravels are not yet public, we will update this article as soon as more information comes to light.
Source: Instagram @ravelcare
Here are other companies from Season 2 Episode 22.
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