NOOE is a premium lifestyle accessories brand founded by Piyush Suri and Neetica Prashant Pande. Known for its clean Scandinavian-inspired designs, the brand focuses on products like desk setups, stationery, and everyday essentials. Their commitment to sustainability is reflected in their use of high-quality materials, such as Munken paper, sourced from Sweden.

Click here to visit their official website : NOOE

NOOE’s products aren’t just functional; they’re designed to elevate the user’s daily experience. The CONFIG01 Desk Setup, for example, has won the prestigious Red Dot Design Award—a recognition often likened to the Oscars in the design world.

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From their origins in India, NOOE has expanded its presence to over 40 countries, with products available offline in nine of them. They’ve even made their way into Harrods, London’s iconic luxury retailer. While the brand proudly designs its products in-house, manufacturing takes place across India and China.

NOOE caters to premium audiences with a meticulously crafted lineup of lifestyle products. Here’s a breakdown of some of their offerings:

• Laptop Sleeve: ₹3,400
• Bento Box: ₹11,000
• Ease Keyboard Palm Rest: ₹2,499
• Laptop Bags: ₹4,500
• CONFIG01 Desk Setup: ₹15,000 (₹40,000 at Harrods)
• CONFIG02 Desk Setup: ₹17,000

These products are designed for durability and aesthetic appeal, with items like their Blade Alu Pen priced at ₹3,500 and diaries priced at ₹1,500.

In terms of revenue, NOOE’s growth has been promising:

• FY22-23: ₹1.3 Crores
• FY23-24: ₹2.7 Crores
• FY24-25 (Projected): ₹6 Crores (₹1.5 Crores earned by September 2024)

While 70% of NOOE’s revenue now comes from India, their early success was driven by exports, reflecting a 60-40 split. Gross margins stand at 40%.

• B2B Channels: 60%
• Marketplaces (e.g., Amazon): 15%
• Own Website: 25%

However, the company faces challenges. With a burn rate of ₹50 Lakhs by September FY24-25, their current bank balance stands at ₹22 Lakhs, while they carry a debt of ₹1.2 Crores.

• Piyush Suri (Co-founder): 55%
• Neetica Prashant Pande (Co-founder): 11%
• Early Employees/ESOPs: 6%
• Ex-Partner: 11%
• Friends and Angel Investors: 17%
• Total capital raised to date: ₹3 Crores.

The founders face a short runway due to inventory worth ₹2.7 Crores (at sale price) and a high MOQ (Minimum Order Quantity) requirement of 1,000 units per product.

The founders pitched NOOE to the Sharks with a clear ask: ₹8.5 Crores for funding, with no commitments from investors yet. The pitch revealed both the brand’s potential and its operational challenges.

• Kunal Shah: Opted out early, citing low gross margins and high complexity.
• Vineeta Singh: Declined due to concerns about market fit.
• Anupam Mittal: Advised the founders to focus, criticising their scattered approach.
• Aman Gupta’s First Offer: ₹3 Crores for 50% equity, restructuring ownership as follows:
  • 20% for Piyush
  • 20% for Neetica
  • 10% for ESOP pool
• Peyush Bansal’s Offer: ₹3 Crores for 51% equity, with no changes to the current structure.

The founders hesitated to give away controlling stakes, but Aman adjusted his offer to ₹2 Crores for 30% equity, valuing the company at ₹6.67 Crores. The counteroffer from the founders sought ₹5 Crores for 20% equity.

In the end, Peyush Bansal increased his investment to ₹5 Crores for 51% equity, and the founders accepted his offer.

The Sharks identified several obstacles that NOOE must overcome to sustain and scale:

• Low Gross Margins: At 40%, these margins are considered slim for a premium brand.
• High Burn Rate: Losses in FY23-24 reached ₹1.4 Crores.
• Operational Focus: The founders were advised to refine their focus to specific product categories.

Post-Shark Tank, NOOE faces the daunting task of optimising operations while scaling production. With the funding secured, the brand must:

1. Streamline inventory and reduce MOQ pressures.
2. Improve gross margins through cost efficiencies.
3. Focus marketing efforts on high-performing channels, especially B2B.

Their partnership with Peyush Bansal brings not just funding but also strategic mentorship, which could be pivotal for the company’s future.

NOOE’s journey is a case study in balancing ambition with practicality. Their premium positioning, global reach, and design ethos give them a competitive edge, but the operational challenges underscore the complexities of scaling a lifestyle brand.

With sustainability at its core and a dedicated team, NOOE has the potential to redefine lifestyle accessories for the modern consumer—one desk setup at a time.