- Founder: Ravinder Singh & Jaspreet Kaur Walia
- Business: Skateboards
- Ask: ₹50 Lakhs for 2% Equity
- Valuation/ Networth: ₹25 Crores
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 4 Episode 25
Skate Supply India Shark Tank India Pitch:
Skate Supply India is a multi-brand platform which has exclusive rights to sell skateboard products of over 20 international brands pan-India. The company have served over 4,000 customers in last 1.5 years. The founders sought an investment of ₹50 Lakhs in exchange for 2% equity in the brand, valuing the company at ₹25 Crores.
Skate Supply India’s founders have a good relationship with all the popular skate brands, and they shared that 80% of those skates are manufactured by them. Also, with their multi-brand platform, the company also sells their in-house manufactured products under the brand name Hearty.
Skate Supply India shared that India has over 5 Lakh active skateboarders. Their skateboards start at ₹1,000 and go up to ₹50,000. The pricing of their best-selling skateboard is between ₹5,000 to ₹6,000. The company is competing with Decathlon and the founders added that their pricing is competitive.
Skate Supply India’s Financials & Revenue during Shark Tank India:
Skate Supply India’s unique selling proposition is their variety and their quality. The company made a revenue of ₹85 Lakhs till November for their FY24-25. The brand made ₹57 Lakhs of revenue from June 2023 to December 2023. The company is projecting to close this year with ₹2 Crores of revenue with 9% net margin. Last year, they burned money.
Hearty makes up 78% of the total revenue for the corporation. Interestingly, 30% of the company’s revenue comes from just Mumbai & Pune. 40% come from Delhi NCR. 50% of total sales are also from walk-ins at their Chandigarh warehouse. The founders are aiming at ₹500 Crore revenue in 5 years.
Skate Supply India Shark Tank India Negotiations & Funding:
Namita wasn’t confident that this sport would pick up in India; therefore, she went out. Viraj suggested the founders not to take an investment, so he went out as well. Anupam offered ₹50 lakhs for 5% equity and 2% royalties on sale until he makes 2X of his investment.
Kunal went out due to small TAM. Aman offered ₹50 Lakhs for 5% and 2% royalties until he makes his investment back. Anupam matched Aman’s offer. The founders countered sharks at ₹50 Lakhs for 3% and they added that they would not make a royalty deal. The sharks countered with 4% but with same royalty terms. The founders countered at ₹50 lakhs for 3.5% but no royalties. The sharks went back and forth about royalties but the founders didn’t budge and decided to walk out of Tank without a deal.
Who are the founders of Skate Supply India?
Ravinder Singh & Jaspreet Kaur Walia founded Skate Supply India. Ravinder is from Tarn Taran, Punjab and Jaspreet is from Chandigarh. The founders have been part of this industry for 20 years as skateboard manufacturers.
How is Skate Supply India doing after Shark Tank India?
Our research in Skate Supply India revealed that while they did not get a deal on Shark Tank India. Their appearance on the show had a positive impact on the business. Currently they are experiencing the Shark Tank Effect and you can check out their products by clicking the Amazon button below!
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