Swadeshi Blessings Shark Tank Pitch:
Swadeshi Blessings, a Udaipur-based company featured on Shark Tank India Season 2, specializes in earthenware cooking utensils and home decor crafted by local artisans in Kankroli, Udaipur. Seeking Rs. 50 Lakh for 5% equity during their pitch, the founders impressed the Sharks with their dedication to providing environmentally friendly, all-natural cooking alternatives. They have delivered over 25000 products across India and 25 other countries. The founders shared that there is no glazing involved in their products.
Swadeshi Blessings shared their numbers that the monthly breakage of their products is only at around 3%. They started in 2020 and made ₹30 Lakh in their first financial year of FY20-21. This was followed by 500% growth in FY21-22 where they closed the year at ₹1.8 Crores. Their year to date for FY22-23 were at ₹1.2 Crores with projections to hit ₹3.6 Crores. Swadeshi Blessing’s Average price in India is at ₹900 and export price is around ₹7,700. Their gross margin is at 60% and net comes to around 15%. Their Last months sales were at ₹28 Lakh which after all expenses gave them ₹4 Lakhs of net profit. 65% of revenue comes from exports and rest from India.
Swadeshi Blessings Shark Tank Negotiations & Funding:
Peyush gave feedback that the company should work on branding for their products. He added that there were other sharks on the panel which could help the founders better therefore he stepped out of the deal. Anupam liked the founders and the impact they were creating but he didn’t see the market in India therefore he went out of the deal. Aman goes out of the deal citing that there is more branding opportunity and he didn’t see how this business will scale in long term.
Vineeta and Namita give their first offer of ₹25 Lakh for 5% of the company and ₹25 Lakh as debt at 12% interest. The offer was conditional that Dattatreya would need to leave his job and come work in this business full time. Namita added that she would collaborate the Swadeshi Blessings with Rare Planet, Her other investment from Shark Tank. The founders counter at 4% for the same amount with conditions which sharks refuse therefore, The company accepted their initial offer of ₹25 Lakh for 5% and rest as debt and they shake hands on that.
Who are the founders of Swadeshi Blessings?
Madhavi Paliwal, Dattatreya Vyas & Sunita Vyas founded Swadeshi Blessings based in Kankroli, Udaipur, Rajasthan. Madhavi is an MBA graduate from Amity University and takes care of Product sourcing and business development in the business. Dattatreya is a Electrical engineer and takes care of marketing and business operations of Swadeshi Blessings.
How is Swadeshi Blessings doing after Shark Tank India?
Our research in the company revealed that their Shark Tank India deal with Namita and Vineeta did not close after the show aired. Despite that setback, The company is still thriving as of December 2023. They have expanded internationally and Exports still make a major business of their total revenue. Important to note that they are offering free worldwide shipping on their products.
Source: Instagram @swadeshiblessings
Here are other companies from Season 2 Episode 23.
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