Image Credits: Shark Tank India
Last updated on 21 January 2022. Find out everything about the Modern Myth pitch on Shark Tank India, founder Oshina Hans and the latest updates about her company!
Modern Myth on Shark Tank India
The company was founded in 2019 and is featured on the first season’s episode 23.
Here are the key details about their pitch on Shark Tank India:
|Business Name||Modern Myth|
|Founders||Oshina Hans and Saurabh Tokas|
|Episode no.||Season 01 Episode 23|
|Ask||₹75 Lakhs for 5% Equity|
|Accepted Offer||NO DEAL|
Modern Myth is a Delhi-based startup that sells lifestyle bags for women and men. They sell Handbags, Slings, Clutches, Totes, Laptop Bags and Pouches. All are made from Vegan leather and are animal cruelty-free.
Their USP is that their designs are unique, stylish and modern. That is why they have sold ₹2.5 crores worth of bags before the pitch.
These bags are available on their website and many other online marketplaces. Here is their Modern Tropical Bag on Amazon India (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3nKDL2Z
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
They asked for ₹75 Lakhs against 5% Equity. They will use the money for marketing as well as launching new products in untapped markets.
But maybe it was not the lucky day for the entrepreneurs as Ashneer said that he can easily get the same bags in Delhi’s famous markets like Rajouri Garden, Sarojini Nagar or Janpath. He was also worried about their relationship risk.
Entrepreneurs explained that they wanted to go into the Fast-fashion market but Peyush warned them that it is too competitive. He was out because he thought that there is still a lot of work required.
Anupam seemed a bit interested but he thinks that it is too early to be investable as their marketing strategy is not clear. Vineeta advised them that they need to focus more on quality rather than designs.
In the end, they left the tank without a deal from the sharks.
About Oshina Hans
Oshina Hans is the Director and Creative Head of Modern Myth India Tradex Private Limited. She is a Bachelor in Design graduate from NIFT and also had 3 years of experience as Textile Designer in companies like BIBA Apparel and Noorjehan Exports.
Saurabh Tokas was her boyfriend and both hold 50% shares of the company.
After Shark Tank Updates
One good thing they did for the viewers is that they were giving a 10% discount on their products after the episode aired on television with coupon code ‘SHARKTANK’.
Also, they posted on their website that their bags are ‘Not from Sarojini’. This shows that they took the criticism happily as also seen from their Instagram post where they shared memes about their pitch:
We also learned that they want to expand to home furnishing and lifestyle products in the coming years.
By the way, other businesses pitched in this episode were Namhya Foods, Urban Monkey and Guardian Gears.
At last, here is their official company pitch: “Modern Myth is an international brand for handcrafted vegan bags for both men and women known for its edgy, yet functional designs.”
So now you know about the Shark Tank India pitch of ‘Modern Myth’ bags and its founder Oshina Hans with Saurabh Tokas. We wish them success for their future endeavours!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark tank.