The one thing that stood out in Singh Styled pitch was the founder’s passion for his business. The identity of Sikhs, bestowed upon them by their Guru includes their trademark turban, well-groomed beard, and kada, the pride that the founder felt for this identity shone through the pitch.
In order to groom their beards the Sikhs use gum and hairspray. These hairsprays are alcohol-based, which is harmful to skin and respiration so much so that it could lead to asthma too. The founder too developed Asthma, because of it.
Nowadays Sardars are health and brand-conscious. This is where Singh Styled comes into the picture. It was launched in 2016.
Singh Styled Brand
They sell products in two categories:
*All their products are Alcohol and Gum Free.
They are currently shipping in 130 countries and have catered to more than 60K customers.
SKU’s
Beard- 6
Accessories- 4
Turban- 100 shades
Namita Thapar wanted to know what is different about their products from other beard grooming brands that too are alcohol-free. To which the founder replied that the Sikhs have a different way to maintain the beard. They don’t have oil to grow the beard, rather they have a nourisher because using hair spray all day makes the beard rough. At night when the beard is open they can use the oil for healing the beard hair.
Namita Thapar wanted to know that traditionally the Sikhs use unbranded turbans, then would they switch to branded ones? The founder replied that the turbans available in the market are not always pure cotton and the color too fades quickly. Whereas they only sell pure cotton turbans, whose color does not fade easily. He only gets 8% profit in his turbans and his main intention behind selling turbans is to do seva.
Singh Styled Founder
Chiranjeev Singh Savla is the founder of Singh Styled. He came to the show with his operations team head Ashwath Pujari. When Aman asked that people usually bring their co-founders, why did he bring the operations head?
The answer that he gave is the mark of the true entrepreneur. He said that from 1st day all his employees are partners in the company, he could be the founder but without Ashwath he could not function.
He is so passionate about this that he took 4 1/2 years to make the formulation because he did not want to put gum in his products.
This is what he has to say about his brand “Brands spend billions of dollars to create a brand identity. We Sikhs have been blessed with an identity that is unique, yet global by our Gurus, which is free. We just need to preserve this identity and respect it by maintaining it. And that is the mission of Singh Styled to offer Turbans, beard, and hair care products to help every Sikh Gentlemen to maintain the identity with ease.”
Singh Styled Shark Tank India
The founder had asked for ₹50 lakhs for 5% equity.
Sales Split: 40% from turbans and 60% from personal Care
(2019-20)- ₹12 lakhs
(2020-2021)- ₹14 lakhs
(2012-2022)- ₹33 lakhs
(2022-2023)- ₹42 lakhs
Their September 2022 sales were ₹7.5 lakhs.
They are profitable, but profits are a little above the breakeven point.
They had raised the first round at ₹1 crore for 20%
On Instagram, they have 8K followers, which according to the sharks is too less. Peyush Bansal pointed out that the reason is that they have a gap in the team. To build an investible and high-growth business, building a team is important.
The founder clarified that they are planning to hire a digital marketing team, who will understand their story and put it into the content.
Anupam Mittal was out because the beard market in itself is small and add to that the beard market for Sikh is even smaller. There are too many players and the market is too small.
Namita explained that they should focus on building their fundamentals because ₹7 lakhs business for a 6-year-old brand is too less.
Vineeta Sigh and Aman Gupta too were out.
Peyush Bansal wanted to know what he wanted from sharks, to which the founder replied that he wanted an advisor, a mentor who could guide him. Peyush later gave him the offer of ₹50 lakhs for 20% equity and explained that he will be an active investor and help him with marketing, structuring ESOP, etc.
The founder said that he could not give more than 10% equity.
Peyush revised his offer with a condition that he would initially give them ₹50 lakhs for 10% equity and in the future, he will invest another ₹75 lakhs to take his equity to 25% and the deal was secured.
Where can you find them?
Instagram | Website | Facebook | Twitter | YouTube | Pinterest
Concluding Remarks
I would like to end the blog with some of the inspiring Entrepreneurial qualities of the Founder Charanjeev Singh.
- In-depth R&D
He took 4 ½ years just to come up with the perfect formulation which does not contain gum for his beard setter.
- Treats Employees With Respect
He believes that all his employees are partners in the company and without their contribution, he cannot function.
- Combined Passion with Service
He is very passionate about maintaining the identity bestowed upon the Sikhs by their gurus. To serve his fellow Sikhs, he is selling good quality turbans at a minimal profit margin.
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