Introduction
The founders’ narrative clearly impressed the sharks, despite the fact that they were unable to reach a contract. The main goal of Shark Tank India is for its sharks to identify and support the growth of investable businesses. BeUnic, the most recent company to debut on Season 2 of the programme, made an impression on the judges despite failing to land a deal.
Sharks were moved by the mother-son team that founded the company, Simmi Nanda, Aashish Chopra, and Vishesh Chopra.
Microsoft, Starbucks, and Walmart are just a few of the notable companies that Beunic India Business has worked with. Beginning with a footwear company, the online marketplace business journey will inspire fresh optimism and teach startup companies about new challenges. Beunic India Business works with and supports LGBTQ+ queer businesses to advance production that is soul-driven and queer-created.
About the brand
Simmi Nanda, one of its founders, was motivated to create a safe haven for the LGBTQ+ community by her son Aashish Chopra.
Ashish Chopra is the 2018 Mr. Gay India first runner-up. There are 21 LGBTQ business owners and designers under his brand “BeUnic.” He started by fusing his knowledge with his own struggle to manage such a business when he left home at the age of 18.
BeUnic Business has connections to some of the top NGOs, support organisations, and LGBT persons that require assistance in India. A community-focused e-commerce site called BeUnic enables LGBTQ designers and artists to market their goods and services. BeUnic Business layoffs result in a broad range of initiatives, including LGBT literature, community programming, legal guidance, and help for mental health.
Sales and Valuation
Beunic India was established in 2019. Beunique has increased in popularity by 10,000 new customers in the year 2022.
In 6 months of starting the business only ₹ 20 thousand were earned from footwear.
In the year 2020, sales of ₹ 50 lakhs have been earned from this business. It has been told by an internet source that the LGBTQ+ community market can be up to $200 billion.
Beunic monthly sales
March 22 – ₹1 lakh
April 22 – ₹5.5 lakh
May 22 – ₹5.5 lakh
June 22 – ₹6 lakh
FY 21 – 22 sales were ₹50 lakh. Sales go up and down due to corporate orders, but her other sales remain stable.
Deal or no-deal?
The founders’ tale touched each shark, but they didn’t think there was much reason to invest in the business. Aman Gupta, a co-founder of BoAt, was the first to withdraw, saying that BeUnic looked to be the founders’ “side project.”
Vineeta Singh, a co-founder of Sugar Cosmetics, withdrew because she believed it would take 3–4 years to integrate the community and business aspects of BeUnic and that the firm was still too young for her to invest in. Singh was supported by Namita Thapar, executive director of Emcure Pharmaceuticals.
Shark Peyush Offer: ₹25 Lakh for 25% Equity, Valuation – ₹1 Crore & ₹75 Lakh Debt
Conditions: He should make this business not a market place business but a D2C brand and the business pitcher will work full time in it.
But Business Pitcher doesn’t accept the deal.
Conclusion
As a young company, Beunic India supports and promotes minority communities. Businesses encounter several difficulties. Shark Tank India Season 1 demonstrated the expansion of companies like Kiner Service and Glee. Many social departments are inspired by such businesses to develop into self-sufficient, responsible societies. These companies are outstanding examples of the potential of a new company. Every person is given the chance to experience the splendour of this road by being given the chance to live their life according to this method.
Where to Find Beunic
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