Offmint on Shark Tank India: ₹10 for 1% Equity? Offmint’s Founder Shocked the Sharks

Fast fashion dominates the clothing industry, but few brands prioritize sustainability. Offmint, a unisex, multi-category fashion brand, is challenging that norm with an eco-friendly twist.
Founded in January 2024 by Ashutosh Roy, Offmint integrates sustainability into fashion by ensuring each order includes a pen embedded with seeds, promoting environmental consciousness among consumers.
But what truly makes Offmint stand out is the story behind its founder—a tale of resilience, betrayal, and an unwavering will to succeed.

Ashutosh Roy’s first appearance on Shark Tank India should have been a life-changing moment, but it came with devastating news.

On the same day his first pitch aired during Season 2, his father tragically lost his life in an accident. Despite his heartbreak, Ashutosh chose to keep moving forward, driven by his father’s dream of seeing him succeed.

After his initial Shark Tank India experience, his co-founder refused to give him equity, leaving him with nothing from the venture they built together. Instead of giving up, Ashutosh took matters into his own hands and started Offmint from scratch.

Rani Ahluwalia, a London-based Shark Tank India fan, saw his story and believed in his vision. She became one of Offmint’s first investors, helping Ashutosh establish the brand.

This combination of loss, betrayal, and unexpected support shaped Ashutosh’s determination to build something meaningful.

Even before the Shark Tank India pitch, Offmint had been gaining momentum.

Offmint’s Monthly Sales Growth

• July 2024: ₹29 lakh
• August 2024: ₹32 lakh
• September 2024: ₹40 lakh
• October 2024 (Projected): ₹48 lakh

Offmint’s Sales Breakdown

• 80% from their own website
• 20% from online marketplaces

With a direct-to-consumer focus, Offmint has been able to control branding, build customer relationships, and maintain strong profit margins.

Despite being a new brand, Offmint maintains healthy unit economics:

• COGS (Cost of Goods Sold): 30%
• Delivery: 7%
• Payment Gateway & AI Tools: 3%
• Rental & Salaries: 15%
• GST: 12%
• EBITDA (Profitability): 13%

With scalability in mind, Ashutosh plans to use the sharks’ guidance to optimize operations and expand strategically.

When Ashutosh walked into the tank for the second time, he wasn’t there for money. He stunned the sharks with an unconventional offer ₹10 for 1% equity, valuing Offmint at just ₹1,000.

His reasoning was “I’m not here for money. I’m here to seek your expertise.”

Ashutosh’s emotional story, combined with his unique ask, left the sharks deeply moved.

Respect for His Perseverance

• Despite facing personal tragedy and professional betrayal, Ashutosh refused to give up.
• His commitment to honoring his father’s memory through Offmint resonated with every shark.

Impressed by Offmint’s Sustainable Approach

• The brand’s eco-friendly initiative, offering seed-embedded pens with each order, was seen as an innovative touch.
• It positioned Offmint as a socially responsible fashion label in an industry known for wastefulness.

Recognition of His Business Acumen

• The sharks acknowledged that Ashutosh wasn’t just emotional—he was also a sharp entrepreneur.
• His ability to bounce back and build a new brand from the ground up proved his business instincts were strong.

For the first time in the show’s history, all the sharks came together to offer him a collective deal.

Instead of the ₹10 for 1% equity, the sharks made a counteroffer, ₹10 lakh for 4% equity in Offmint.

This rare moment of unanimous investment underscored:

1. Their belief in Ashutosh as a resilient entrepreneur.
2. Their confidence in Offmint’s long-term potential.
3. Their desire to guide him towards sustainable business growth.

Ashutosh gladly accepted the deal, marking one of the most inspiring moments in Shark Tank India history.

With funding secured and mentorship from some of India’s most successful entrepreneurs, Offmint’s next moves include:

Expanding Product Lines

• Introducing new designs and categories to cater to wider fashion audiences.
• Strengthening the brand’s sustainable initiatives.

Strengthening Marketing & Distribution

• Leveraging the sharks’ networks to expand into offline retail and premium e-commerce platforms.
• Increasing investment in digital marketing to scale direct-to-consumer sales.

Scaling Up Production & Logistics

• Setting up additional manufacturing hubs to support growing demand.
• Optimizing delivery speed and supply chain efficiency.

1. Resilience is Everything – No matter how many setbacks you face, persistence and belief in your vision matter most.
2. More Than Money – The Right Mentorship Can Change Everything – Sometimes, guidance from the right people is more valuable than cash.
3. Sustainability Sells – Consumers are increasingly choosing eco-conscious brands, proving that responsible fashion has a bright future.

Ashutosh Roy’s second appearance on Shark Tank India wasn’t just about business—it was about redemption.

From losing his father on the day of his first pitch to being betrayed by a business partner, his determination to rise again with Offmint inspired millions.

With the backing of all the sharks, Offmint is set to become one of India’s most exciting sustainable fashion brands.

Ashutosh didn’t just walk away with a deal.
He walked away with the ultimate validation of his vision, strength, and entrepreneurial spirit.