Girgit’s ₹ 20 Lakhs for 20% Equity Win On Shark Tank India

Girgit is an innovative clothing brand that can change color in the sun or when it gets wet. Their unique products have delighted 1800 customers who purchased 3000 items in the past year. The company caters to both children and adults and sells its items through its website, retail locations, and online platforms.

Click here to visit their official website: Girgit

Seeking an investment of ₹20 lakh in exchange for a 10% stake, Girgit has achieved an impressive revenue of ₹58 lakh with a gross margin of 79%. Their color-changing materials are sensitive to temperature, adapting to their environment to produce captivating effects. In August 2022, Girgit experienced a notable increase in sales, reaching ₹8.5 lakh, compared to ₹7.5 lakh in July and ₹5 lakh in June.

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Pooja Bajaj Shah is the mastermind behind Girgit. At just 30 years old, she is a budding entrepreneur residing in Mumbai with her husband, Benoy Shah. Previously, Pooja held roles as a teacher and coordinator at a renowned international school. After tying the knot, she took a break from her career and developed a keen interest in colors. With a family background in the textile industry and a passion for children, Pooja birthed the idea for the brand Girgit. Following her appearance on Shark Tank India while pregnant, she welcomed a daughter named Veda into the world.

Peyush was the first one to say no, expressing concerns about the company’s ability to grow, especially since it relies heavily on just one feature. Aman, Vineeta, and Anupum also decided to pass for similar reasons. Anupam added that he thought it was all just a trick.

Namita, however, saw potential in the business because of its use of low-cost materials and high profits. She offered INR 20 lakhs for a 20% share of the company, also suggesting that the company should focus more on products for kids up to 15 years old, and expand its range to include bags, hats, and slogan t-shirts. Benoy offered INR 20 lakhs for a 15% share, but Namita stuck to her offer of 20% stake. Eventually, the deal was sealed with Namita getting a 20% stake in the company.

Our investigation into the company disclosed that the partnership with Namita did not materialize, yet the company remains operational. As of October 2023, they have amassed over 14 thousand followers on Instagram, with continuous growth. It was also uncovered that the company chose to stick with their original plan and continue selling products for individuals of all age groups.

In a podcast, Pooja revealed that appearing on Shark Tank had a remarkably positive impact on their business. She mentioned that the exposure from the show resulted in numerous valuable connections, with the 10 minutes of TV time equating to about 5 years’ worth of marketing. Additionally, she shared that even before participating in the pitch show, it helped them envision the future of their brand and establish a deeper connection with it. Pooja emphasized that the show contributed to building trust in the brand, resulting in a significant boost in sales. Following the episode’s broadcast, Girgit managed to sell three months’ worth of products within just two weeks, showcasing the enduring effects of their Shark Tank appearance.