Stanlee India Shark Tank India Pitch:
Stanlee India is a company that appeared in the Shark Tank India Unseen segment. The company specializes in manufacturing televisions and offers a wide range of products in this segment. They produce pocket-friendly smart LED televisions that offer 4K quality and come in sizes ranging from 24 inches to 75 inches. They sought ₹60 lakh for 3% of the company.
The company was launched in 2019, and they have generated ₹7.5 crores in revenue so far. They earned ₹2.5 crores in FY19-20 and ₹3.5 crores in the following year. Their year-to-date numbers for FY 21-22 stood at ₹1.5 crores. The family has invested 2-2.5 crores in the venture so far, all of which came from Amar, who, in exchange, took 50% of the company. The company’s vision is to eventually manufacture all parts in India, including screens, which only a few manufacturers have a monopoly over in that market. The founders shared that they have a 10% margin in the company.
Stanlee India Shark Tank Negotiations:
Peyush was the first one to step out because he mentioned that the only unique selling proposition (USP) for this product is the price, but that won’t be enough because this market is highly competitive. Anupam also mentioned that this is a crowded market, and they don’t see a long-term strategy; therefore, he goes out as well. Ashneer follows the other sharks’ lead and goes out, citing the same reason. Namita goes out citing the same reasons. Aman agreed with the other sharks and said he is open to mentoring the founders but is out for the same reasons other sharks shared as well.
Who are the founders of Stanlee India?
Stanlee India was founded by Nimit Luthra, who has a background in television sales. He worked in one of the popular markets in Chandni Chownk, Delhi, where he did over ₹10 crores in sales for a while with a label TV company. He is partnering with his brother and father, Nimit and Amar, in this venture as well. Amar has a successful venture already, and Mayank is working full time on Stanlee India.
How is Stanlee India doing after Shark Tank India?
Our research on the company revealed that despite not getting a deal on Shark Tank India, the company is still in business as of November 2023. Their website suggests that they have over 25 thousand happy customers and some amazing reviews for their product as well.
Source: Stanlee India Instagram
Here are other companies from Shark Tank India Unseen: