Shraddha Kapoor Skips Shark Tank Pitch, Pallavi Says “Not Her Expertise”: Palmonas on Shark Tank India

Jewellery is often seen as either luxury or imitation, leaving a gap for high-quality yet affordable designs. Palmonas, founded in 2022 by Pallavi Mohadikar and Dr. Amol Patwari, set out to bridge this gap by introducing demi-fine jewellery—pieces that combine luxury aesthetics with everyday wearability.

The brand quickly gained traction, standing out with its modern, internationally inspired designs while keeping prices competitive through its India-based supply chain. Palmonas is now available in over 200 countries, showing strong global ambition.

But what truly made headlines? Bollywood actor Shraddha Kapoor joining as a co-founder.

Click here to visit their website – Palmonas

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Shraddha Kapoor’s association with Palmonas started unexpectedly—through an Instagram post.

She had shared a picture wearing jewellery, and a fan’s comment led her to discover Palmonas. After purchasing from the brand multiple times, she became a loyal customer.

Impressed by the quality and vision behind the brand, Shraddha Kapoor didn’t just continue as a customer—she officially joined as a co-founder.

Speaking about her involvement, Shraddha shared, “Luxury jewellery should be accessible without compromising quality or harming the environment.”

Her belief in sustainable and ethical fashion aligns perfectly with Palmonas’ mission.

Palmonas has a well-defined revenue model, operating across multiple channels.

Palmonas’ Equity Split

• Shraddha Kapoor: 21%
• Pallavi Mohadikar: 50%
• Amol Patwari: 29%

Palmonas’ Revenue Growth

• FY22-23: ₹3.8 crore
• FY23-24: ₹6 crore
• FY24-25 (Till Nov): ₹13.5 crore
• FY24-25 Projected: ₹35 crore

Palmonas’ Sales Channels

• Own Website: 70%
• Marketplaces (Amazon, Flipkart, etc.): 20%
• Retail Stores: 10%

Palmonas relies heavily on direct-to-consumer (D2C) sales, ensuring higher margins and brand control.

Palmonas’ Unit Economics

• COGS (Cost of Goods Sold): 24%
• Commissions, Logistics, etc.: 11%
• Marketing: 40%
• Fixed Expenses: 10%
• EBITDA: 15%

EBITDA Over the Years

• FY22-23: -15%
• FY23-24: -8%
• FY24-25(till Nov): 12%

Despite early losses, profitability improved in FY24-25, with an EBITDA shift from -15% to +12% by November.

The founders entered Shark Tank India with a ₹1.26 crore ask for 1% equity, valuing the company at ₹126 crore.

Before discussions even started, shark Aman Gupta joked, “Shraddha Kapoor didn’t come?” Pallavi laughed, responding, “She was excited but I told her, ‘This isn’t your expertise.’

Shark Vineeta appreciated the jewelry but felt uncertain about the brand’s long-term valuee and was not enough confident to invest.

Shark Kunal Bahl hesitated, feeling the brand had crossed the level of its early stage and he liked to invest in the businesses in their early stages.

Shark Aman Gupta was interested, offered 40 lakhs for 3% + 86 lakhs debt @12% interest for 3 years.

That left Namita and Ritesh Agarwal as the most interested sharks. The biggest sticking point was royalty.

Initially, Namita offered ₹1.26 crore for 1% equity, with a 1% royalty until ₹1.25 crore was recouped.

The founders, however, refused to agree to high royalty demands. After multiple rounds of negotiations, Namita revised her offer:

• ₹1.26 crore for 1% equity.
• 5% royalty until ₹1.25 crore was recovered.

With sharks Ritesh Agarwal joining Namita, the founders sealed the deal, keeping their valuation at ₹126 crore while securing both funding and mentorship.

Despite the concerns raised by other sharks, Namita and Ritesh saw potential in:

1. A Strong Brand Identity – The association with Shraddha Kapoor provided instant credibility.
2. High Growth Potential – Sales had doubled within a year, and ₹35 crore revenue was projected.
3. Global Scalability – Selling in 200+ countries showed international demand.

Their investment wasn’t just about funding—it was about helping Palmonas refine its business strategy for long-term success.

With funding and mentorship secured, Palmonas needs to focus on execution.

1. Strengthening Brand Awareness

• Leverage Shraddha Kapoor’s influence to expand marketing efforts.
• Increase celebrity and influencer collaborations to build trust.

2. Expanding Retail Presence

• While 70% of sales come from D2C, physical retail stores could enhance visibility.
• Testing pop-up stores and experience centres to attract premium customers.

3. Improving Profitability

• Reduce marketing spend from 40% to a sustainable level.
• Optimize logistics and production to lower COGS.

Entrepreneurs looking to pitch on Shark Tank India can learn from Palmonas’ experience:

1. Be Prepared for Tough Negotiations – Investors will challenge every financial detail before making a deal.
2. Valuations Must Be Justified – A ₹126 crore valuation made sense due to sales growth, but sharks still questioned pricing strategies.
3. Branding Helps, But Business Fundamentals Matter More – Shraddha Kapoor’s involvement was a bonus, but sharks wanted a strong business model, not just celebrity backing.

Palmonas came to Shark Tank India with a clear mission: affordable luxury jewellery with international appeal.

The sharks questioned profitability, pricing, and scalability, but in the end, the brand secured a strategic deal.

With the right moves, Palmonas has the potential to become a global leader in the demi-fine jewellery space—proving that great branding, strong business fundamentals, and smart mentorship can take a company far.