In the latest episode of Shark Tank India, the duo behind the demi-fine jewellery brand Palmonas, Pallavi and Amol, showcased what might be the most fitting pitch of the season. They explained that demi-fine jewellery sits between fine and costume jewellery, highlighting that their pieces feature a thicker layer of gold plating compared to cheaper options. Pallavi reassured the sharks that their jewellery is skin-friendly, unlike some budget alternatives. They also revealed that Bollywood star Shraddha Kapoor holds a 21% stake in Palmonas and is a co-founder. The couple valued their business at Rs 126 crore and sought Rs 1.26 crore for a 1% equity share.

Shraddha Kapoor's investment in Palmonas

When the "sharks" probed Pallavi about Shraddha's absence, she revealed that she had suggested the star skip the show because she wasn't quite ready to pitch. Vineeta Singh then asked how they managed to get the actor involved, and Pallavi shared an interesting tale. While scrolling through Instagram, she stumbled upon Shraddha's jewelry—a piece from Palmonas. After a fan praised her necklace, Shraddha mentioned she had bought five more because she loved it so much. While going through her orders, Pallavi found out that S. Kapoor was one of the buyers, completely unaware that Shraddha was shopping from them. Fingers crossed, the reel they made with the caption "Shraddha wears Palmonas" would reach her. And it did! Pallavi even made a trip to Mumbai to meet the actress when she was eight months pregnant, and it turned out great.

The company has secured Rs. 6 crore in an angel investment round, bringing its valuation to Rs. 126 crore. Pallavi shared with the "sharks" that they’re aiming for Rs. 35 crore in revenue this year. Even though Aman Gupta admitted he couldn't match that valuation, he still wanted to take a shot at it. Namita Thapar found his Rs. 20 crore offer amusing. In return for just one percent of the equity, Namita offered the founders the exact valuation they were looking for. However, Pallavi made it clear that they couldn't agree to any royalties. Namita reassured them that the cost would be negligible compared to the value she could bring.

Discussion about stock

Kunal Bahl was grilling Pallavi about her claim of a "lifetime warranty" and discovered it wasn't entirely accurate. The co-founder explained that they only refund a part of the purchase price when items are returned, and after a certain number of years, customers get back 15% as store credits.

Vineeta was taken aback by this revelation. She pointed out that if they misled customers into thinking it was a lifetime warranty, it could seriously hurt their brand. She remarked, "When customers realize they've been duped with this lifetime warranty gimmick, it’s going to affect the brand." In the end, a store voucher worth Rs. 400 is pretty much useless if someone spends Rs. 3000 on a product; nothing in their store is priced at Rs. 400.

Last agreement

Kunal and Vineeta both decided to back out of the deal. Meanwhile, Ritesh Agarwal stepped up to collaborate with Namita. Pallavi and Amol asked for a little time to discuss things among themselves. Kunal warned Namita not to let the royalties jeopardize her business, especially since they were in the outdoor sector. He suggested she shouldn’t push for royalties, as they could easily make ten times their investment. But Namita wasn’t worried; she told Ritesh to take a firm approach and negotiate, believing she would come around in the end. She told him to hang tight while letting Pallavi and Amol know that she was worth more than Rs 50 lakh when they came back, but they insisted they couldn’t offer royalties. To everyone’s surprise, Pallavi agreed. Aman crossed his arms and looked at Namita, saying, "You’re the real shark."

Shark Tank India Season 4 is currently streaming on Sony LIV (OTTplay Premium).

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