Avimee Herbal Shark tank India season 2 episode 17

Avimee Herbal produces skin and hair care products in India. It uses a mixture of Ayurvedic and modern ingredients. In this episode of Shark Tank India Avimee Herbal, a haircare and skincare made from a mixture of Ayurveda and science, presents their pitch.

Source: sharktank.co.in

Company name:

Avimee Herbal is the name of this brand-new hair and skin care brand.

Founders:

From founders who are working mothers to college goers, people of all age groups have joined Shark Tank India S2. But Radha Krishna Choudhary stands apart from the rest as he is 86 years old and the oldest entrepreneur to be considered. The rest of the people are Siddhant Agarwal, Ambika Agarwal, Vinita Agarwal, and Vibhor Agarwal.

Siddhant Looks after the operations of the company whereas Ambika looks after the marketing work and she has 400000 followers on Instagram. Vinita and Vibhor have 33.3% equity in the company.

About Company:

RK Choudhary has been researching Ayurveda and hair fall for over three decades. He was always interested in and passionate about Ayurveda. He focused on solving the problem after seeing Ambika’s hair fall post covid. And hence, he started making oil from his research. Avimee Herbal is a mixture of Ayurvedic and modern science. His statement in Business Insider says “ Through my knowledge and passion for Ayurveda, I want to solve people’s hair and skin problems and spread happiness. I have resolved to regrow people’s hair”.

When did the company Avimee Herbal start?

Source: fulminofan.com

Avimee Herbal is a Gujrat-based company that started back in August 2021 with only three products. Currently, the company has 27 products on offer and is all set to launch in Dubai. All the products are available on the main website and online stores like Amazon. They are on the 9th bestseller list on Amazon. 50% of sales come from Kesh Pallav oil, 30% of sales come from the hair tone spray, and 20% of sales come from their other products out of total sales products. The repeat rate is 32%. Although Avimee Herbal is on its rental premises, it will set up a factory for 5 to 6 crores in the coming years.

Current Revenue of Avimee Herbal:

The net sales are 6.5 crores in FY 21 to 22. In April 2022 the sales were 5 lakhs, it was 1.25 crores during May and June, 1.75 crores in July, and 1.65 crores in August. The projected sales between 2022 and 2023 are 20 crores and there is a high chance that it will increase as they get orders from Dubai. Dubai is one of the largest international markets and the first order from Dubai is worth 1 crore. Avimee herbal earns 85% of its total sales from the main website and the rest comes from the marketplace.

Current profit of Avimee Herbal:

The projected sales between 2022 and 2023 are 20 crores and there is a high chance that it will increase as they get orders from Dubai. Dubai is one of the largest international markets and the first order from Dubai is worth 1 crore. Avimee herbal earns 85% of its total sales from the main website and the rest comes from the marketplace.

Ask:

The founders of Avimee Herbal asked for an investment of 2.8 crores for a 0.5% equity stake. The founders claimed the valuation of the company to be forward-looking but ultimately the valuation left them shocked. The three investors Bansal, Aman Gupta (boAt co-founder), and Namita Thapar (Emcure Pharmaceuticals’ executive director) backed out from the company. They explained that RK Choudhary was an inspiration but the business is too vast in its offerings with an extremely high valuation. 

Two different offers were made by Anupam Mittal, founder of Shaadi.com but those were the combinations of debt and equity. 1 crore for equity and 1.8 crores debt at 12% interest, bringing the company’s valuation to 40 crores, offered Jain. Mitta; offered 70 lakhs for 2%  equity and 2.1 crores at a 15% interest rate, valuing the company at 35 crores. 

After getting all the offers, the founders stepped back from taking on debt and revised their valuation to 186 crores. They further asked for an investment of 2.8 crores for 1.5% equity. 

Source: avimeeherbal.com

Summary:

Avimee Herbal produces skin and hair care products in India. It uses a mixture of Ayurvedic and modern ingredients. From founders who are working mothers to college goers, people of all age groups have joined Shark Tank India S2. But Radha Krishna Choudhary stands apart from the rest as he is 86 years old and the oldest entrepreneur to be considered. Avimee Herbal is a Gujrat-based company that started back in August 2021 with only three products.

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Andrew

Andrew is a professional writer with 7+ Years of experience. His style and uniqueness inspire and educate readers throughout the world.

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About the Author: Andrew

Andrew is a professional writer with 7+ Years of experience. His style and uniqueness inspire and educate readers throughout the world.

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