HairOriginals: Ethical Hair Extensions Thrive Post Shark Tank India Deal

Hair Originals is a leading manufacturer and exporter of a wide range of premium hair extension products, headquartered in Gurgaon, India. Founded in 2018 by an IIT alumnus, the company focuses on ethical sourcing of natural Indian Remy hair from temple donations, ensuring end-to-end quality control and a customer-centric approach. Hair Originals offers a diverse product portfolio including clip-in extensions, permanent extensions, hair toppers, wigs, and accessories, catering to both women and men. The brand is committed to honesty, ethics, and helping customers achieve their desired hairstyles, with a network of experience centers across India and a 24/7 customer support. The brand’s products became very successful and their sales increased after they appeared on the TV show Shark Tank India. Three investors on the show, Ashneer Grover, Anupam Mittal, and Peyush Bansal, decided to invest 60 lakhs of rupees in the company. After this deal, the high-quality hair extensions from Hair Originals started being used at many international events.

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Jitendra Sharma’s career journey, starting from his early days as a theatre artist in school, building a reputation in Punjabi plays, and then moving into the Punjabi film industry, where he has found success as both an executive producer and an actor. He has progressed in the direction of Punjabi cinema to make a dent in the world of cinema as an Executive Producer and Actor. Jitendra Sharma, realized that there was a strong demand for wigs and hair extensions in the global market. This made him decide to start selling a line of wigs and hair extensions that were made entirely from 100% real human hair. These products are completely natural and do not contain any chemicals.

HairOriginals is a company that operates in the retail and consumer goods market segments, which means they sell products directly to individual consumers (B2C) rather than to other businesses. This allows them to cater to the needs and preferences of end-users in the hair care and beauty industries.

HairOriginals is associated with a legal entity called KRISORIGINALS PRIVATE LIMITED. This is a private company that was incorporated (officially formed) on August 5, 2018. As of March 31, 2023, the company had the following financial details:

• Revenue (total income): $930,000
• Net Profit (profit after expenses): -$520,000 (a loss)
• Employee Count: 652 people

HairOriginals has raised a total of $3.24 million in funding over 5 different funding rounds. The company’s first funding round was on March 30, 2021. The most recent funding round was a Seed round on April 7, 2023, where they raised $1.5 million. This latest Seed round was led by investors like Anicut Capital, Kesh Kala Family Office, LetsVenture, Dexter Angels, and JITO Incubation & Innovation Foundation. A total of 15 investors participated in this round.

HairOriginals has received investment funding from various sources. The company has 19 institutional investors, which are organizations or funds that invest in businesses. Some of the key institutional investors in HairOriginals include:

• Anicut Capital: This is the largest institutional investor in HairOriginals.
• LetsVenture: Another institutional investor that has provided funding to HairOriginals.
• JITO Incubation & Innovation Foundation: This is an organization that invests in and supports new businesses.

In addition to the institutional investors, HairOriginals also has 40 individual angel investors. Angel investors are typically wealthy individuals who provide funding to startups and new companies. One of the angel investors in HairOriginals is Anoop Taneja.

HairOriginals has a total of 3 competitors in the market. It ranks 1st among these competitors. One of HairOriginals’ competitors is funded, while the other two are unfunded. In total, HairOriginals and its 3 competitors have raised over $3.24 million in funding across 5 funding rounds. This funding involved 69 different investors. None of the companies in this competitive landscape are considered “Unicorns” – private companies valued at over $1 billion. The other two competitors of HairOriginals are:

• Gemeria Hair – An online platform offering a variety of hair extensions. It was founded in 2019 and is located in Noida, India. It is currently unfunded.
• The Gorgeous Hair – An online platform offering natural hair extensions. It was founded in 2018 and is located in Mumbai, India. It is also currently unfunded.

According to the latest ownership report as of September 22, 2023, the Founders of HairOriginals hold the majority stake in the company, owning 38.72% of the shares. This means the Founders own the largest portion of the company. In addition to the Founders, the other shareholders and their ownership percentages are:

• Fund: 23.68%
• Angel: 17.39%
• Other People: 6.58%
• Other Investors: 4.62%
• Enterprise: 2.69%