Paradyes is an Indian brand offering semi-permanent, vegan, and cruelty-free hair coloring products. Their products allow users to experiment with their hair without causing damage.
Unique Offerings:
Unique Offerings:
The brand is known for its “Color of the Month” program, where customers vote on the hair color to be available each month. Their products are enriched with herbal extracts like Brahmi, Amla, Bhringraj, and Aloe Vera, all made in India.
Shark Tank Pitch:
Shark Tank Pitch:
On Shark Tank India, Paradyes founders pitched for an investment of ₹65 lakh for 1% equity, valuing the company at ₹65 crore. The strong supply chain and marketing impressed the sharks.
Investment Offers:
Investment Offers:
Peyush Bansal offered ₹65 lakh for 5% equity, valuing the company at ₹13 crore. The founders eventually accepted an offer from Vineeta Singh and Aman Gupta for ₹65 lakh for 3% equity, valuing the company at ₹32.5 crore.
Shark Insights:
Shark Insights:
Aman Gupta highlighted his experience with boAt, emphasizing value over valuation. Despite higher valuation offers, the founders chose Gupta and Singh’s offer. Bansal and Mittal expressed doubts, while Namita Thapar supported the founders' decision.
Market Expansion:
Market Expansion:
Paradyes has expanded its market presence, selling products in 35 Health & Glow stores, as well as online on Amazon, Flipkart, and their own website. They have built a strong Instagram following with over 80,000 followers.
Future Plans:
Future Plans:
The company plans to expand its product range in permanent and temporary hair color categories by collaborating with industry experts, focusing on versatile, affordable, and safe hair coloring products.
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