Rubeina entered the Shark Tank India stage seeking ₹1 crore for 2.5% equity, valuing her company at ₹40 crore.
The sharks immediately dived into discussions about:
- Market Positioning – Competing with global and domestic brands.
- Financial Performance – Assessing revenue growth and profitability.
- Organic Certification – Verifying if the brand meets stringent organic standards.
The sharks acknowledged consistent growth, but they questioned whether the company’s profit margins were strong enough to justify its valuation.
A closer look at the brand’s unit economics revealed the following breakdown:
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- COGS (Cost of Goods Sold): 24%
- Direct Expenses: 15%
- Marketing Spend: 37%
- Fixed Costs: 27%
- EBITDA : 3%
While the business was generating revenue growth, the high marketing costs concerned the sharks.
Aman Gupta pressed Rubeina on whether she would ever consider adding non-organic products to increase margins.
She firmly refused, stating that her commitment to clean beauty was non-negotiable.
While Rubeina’s passion was undeniable, four out of five sharks backed out:
- Shark Namita Thapar: Concerned about competition from bigger brands.
- Shark Ritesh Agarwal: Questioned the long-term profitability.
- Shark Aman Gupta: Found the valuation too aggressive.
- Shark Vineeta Singh: As a beauty brand owner herself, she wasn’t convinced by the pitch.
Only shark Kunal Bahl saw long-term potential and made an offer. ₹1 crore for 10% equity – A significant drop from Rubeina’s original valuation.
Rubeina wasn’t ready to give up. She countered with ₹1 crore for 4% equity. This move sparked one of the most memorable moments of the pitch.
Vineeta advised her to revise her counteroffer to be closer to Kunal’s terms. Instead, Rubeina confidently responded, “I am the future Vineeta.”
The room erupted in laughter and surprise, with Aman Gupta playfully responding, “That’s so sweet. We would love to have you here.”
Kunal, known for avoiding aggressive negotiations, admitted that he liked Rubeina’s confidence. After further discussions, they closed the deal at:
- ₹1 crore for 8% equity
- New Valuation: ₹12.5 crore
While the valuation was lower than Rubeina’s initial ask, she secured a shark who believed in her vision.