The episode we are discussing today was aired on 4 January 2023 in Shark Tank India Season 2, Episode 3.
About the brand
Girgit Store developed with a concept in the epidemic about making a little sunshine go a long way. and its colour-changing apparel goods. Pooja Bajaj Shah, the company’s creator, started looking for a means to capture her concept in a way that everyone could enjoy anytime they went outdoors in the sunshine and dove into the oceans. She pursued her concept from sunrise to sunset, and after 3 months, she founded the Girgit Store firm. India’s first store selling products that change colour is called Girgit Store.
Like the brand’s namesake, its products likewise change colour. When the items come into touch with natural factors like sunshine, air, or water, they become active.
The brand entertains users of all ages by utilising the timeless appeal of colour! No matter your age or where you’re from, colours, and particularly shifting colours, never fail to catch your attention.
There is no animal testing throughout production. Therefore, the goods won’t just help you look beautiful; they’ll also make you feel wonderful.
They can manufacture temperature-sensitive prints with a set of unique photocromatic colours because they have direct access to inexpensive raw materials and are benefiting from growing their family business. They have used their eyesight on many items, including watches, watch bands, shoes, and more, which they give to the sharks to inspect.
Contact info, address, Insta account, coupon code etc
Use Coupon code Sharktank10 to avail 10% off on all products
Contact information: email@example.com +91 98331 34222
Valuation of the company: 2 Crore INR
Girgit Store has sold 3000 products so far and has 1800 customers till now. Girgit Store Kids Shoes cost around ₹2000 and Girgit Store Adult Shoes cost around ₹3000. Girgit Store Total Sales has been ₹ 58 lakhs. Its Gross Margin is 79% (Girgit Store Gross Margin – 79%). The business had sales of ₹ 8.5 lakh in August 2022, ₹ 7.5 lakh in July 2022 and ₹ 5 lakh in June 2022.
Shark’s offer to GIRGIT STORE
Namita Thapar made the first offer of ₹20 lakh for 20% equity, valuation ₹1 crore. Business Pitcher Counter Offered for ₹20 lakh for 15% equity, valuation ₹1.33 crore. Finally Girgit Store Business Deal is finalised at Namita Thapar’s ₹20 Lakh for 20% equity, valuation ₹1 Crore.
Please share your thoughts on if you plan to utilise a product from the Girgit Store from Shark Tank India Season 2. This is a brand-new category, thus a lot of forecast information and estimation will be needed. By bringing your viewpoint to the advice of the sharks, you may make business studies even more precise. While writing reviews for Shark Tank India, we frequently came to grasp the consequences of not doing more than we should have in business.
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