Image Credits: Shark Tank India
Last updated on 10 March 2023. Find everything about the pitch of Maisha Handcrafted Bags on Shark Tank India, its founders, and the latest updates about the company!
Maisha Lifestyle on Shark Tank India
This homegrown small business about handbags is now the choice of many women in this country.
Here are the key details about their pitch on Shark Tank:
| Name | Maisha Lifestyle |
| Founder | Esha Shah, Nayan Shah, Neel Vora |
| Episode | Season 2 Episode 49 |
| Ask | ₹75 Lakhs for 3% Equity |
| Deal | ₹10 Lakhs for 1% Equity + Debt |
| Sharks | Amit Jain |
| Status | In-business |
Maisha is a lifestyle brand that makes handcrafted bags for women in India. These are colorful, affordable as well as stylish, made from eco-friendly jute, cotton, and burlap.
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The family wanted ₹75 lakhs from sharks in return for a 3% stake in their brand.
But the first problem was there was no single design palette for creating a USP, as Vineeta Said. That’s why she and Anupam went out. They suggested creating their own unique collection.
The sales for FY 2021-22 were ₹2.9 crores after they launched their own website and started selling online directly to customers.
Overall, everyone was impressed with the thing they have created but it was still a competitive market and difficult to scale for an investor to get some big profits in their pockets. They all said goodbye except Amit. He saw some potential in it.
Watch the promo for this episode here:
Maisha Handbags got a deal from Amit Jain on Shark Tank India. He invested ₹10 lakhs for 1% equity and the rest ₹65 lakhs as a loan at 18% interest.
There was another handbag company that came on the tank in 1st season, called Modern Myth by Oshina Hans.
About The Founders
Esha Shah, Nayan Shah, and Neel Vora are the co-founders of Maisha Lifestyle. The business is headquartered in Ahmedabad, Gujarat.
Mr. Nayan Shah is the Head of Operations. He has BE in Mechanical Engineering and MBA in Marketing degrees. He joined her daughter’s business Maisha. Esha Shah is the creative head. He handles the complete design and social media part.
Neel Vora also has an MBA degree with 1-year experience as Relationship Manager at ICICI Bank. He is the husband of Esha and now handles marketing at Maisha.
After Shark Tank Updates
The team was very happy with their performance on the show. They also called it the most precious day in their journey, and also thanked Amit for being a part of it now.
As mentioned in the tank, Esha might become the CEO of Maisha soon. Peyush gave this advice because she is the main woman behind creativity.
These handbags are bought by celebrities like Sara Ali Khan, Kamya Jani, Manisha Rawat, Shweta Pal, and Soha Ali Khan.
According to an interview in Indian Express, Maisha might expand in the footwear category in the coming years.
By the way, other businesses featured in this episode were Forever Modest Clothing, Sahayatha Wheelchairs, and Wicked Gud Pastas.
We have some more information about their products here at the end: “Maisha’s products are handcrafted and handmade by local artisans from the finest weaves of cotton and jute. The products are designed keeping in mind the aesthetics and versatility that lie in cotton and jute and the fine woven textures they’ve been inherited with. They use minimal vegan leather instead of animal leather.”
Takeaways
So now you know about what went right for Maisha Handbags on the Indian Shark Tank. We wish them great success!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.