Image Credits: Shark Tank India
Last updated on 17 January 2023. Find out everything about Paradyes hair color’s pitch on Shark Tank India, the founder, and the latest updates about the company!
Paradyes on Shark Tank India
This pitch will surely go down as the most heated argument between the sharks on the show.
Here are the key details about the pitch of Paradyes hair color on Shark Tank:
|Episode no.||Season 02 Episode 09|
|Ask||₹65 Lakhs for 1% Equity|
|Accepted Offer||₹65 Lakhs for 2% Equity|
|Sharks||Aman Gupta, Vineeta Singh|
Paradyes offer semi-permanent hair color dyes to young India. This means they will not stay there for a lifetime but will vanish after about 8 to 10 washes. So, you can apply them for some specific events and then get back to normal days easily.
They have 20+ colors, available on their website and online marketplaces. You can get it from Health & Glow stores as well. We found their trending Blue hair color dye on Amazon (*Affiliate Link):
Or buy it by clicking here: https://amzn.to/3w8Zsxj
*Affiliate Link means that we get a certain percentage from the sale when you purchase through our link.
The pitchers asked for ₹65 Lakhs for a 1% stake in their startup. The main thing they wanted it better marketing online. The FY 2021-22 sales were ₹3.5 Crores.
Every shark loved the pricing and packaging. Peyush made the first offer for 5%. Vineeta & Anupam offered the money for 4%. Then, Aman asked Vineeta to go with him.
All these led to a big Shark fight between Aman and Anupam. Watch the promo of it:
What happened is the pitchers specifically wanted Aman & Vineeta, which angered Anupam because he was left behind. In between all this, Peyush got up from his seat with the offer of 3% but all this led to chaos. He even went to 1%, which was the original ask.
But in the end, Anupam was out and even questioned the integrity of pitchers and fellow sharks.
Sharks Aman Gupta and Vineeta Singh closed the deal with Paradyes for ₹65 Lakhs for 2% Equity.
About The Founder
Yushika Jolly is the founder and CEO of Paradyes. She did her Bachelor’s degree in Fashion Design from NIFT and her Master’s from the London University of Arts.
Her family is already in the dye manufacturing sector, so running a business was in the genes. She started YushKa Cosmetics in 2020. Paradyes is a brand under YushKa. Her brother Karan Jolly is the CTO of the company.
Siddharth Raghuvanshi is the co-founder and COO of Paradyes, and also the husband of Yushika. They both met on Tinder.
Yushika manages the design & marketing, while Siddhart overlooks the finances. The startup is headquartered in Ahmedabad, Gujarat.
After Shark Tank Updates
After the episode aired, some viewers started trolling the founders for being arrogant. However, we don’t support this. They are doing business and they got the best deal. This is all an entrepreneur wants and they achieved it.
Yushika posted on Linkedin that their website saw 20 times more traffic and sales doubled in a few hours after the episode.
By the way, other businesses featured on this episode were NestRoots and Coezy Sleep.
In the end, here is their official company pitch: “Paradyes is India’s first semi-permanent hair color brand. Curated for all hair types with a combination of ayurvedic and herbal infusions, it’s your go-to product if you wish to add a unique layer of colors to your hair and get your dream transformation. Our aim is to get more and more people to color their hair and express themselves freely without any hesitation.”
So now you know about the pitch of Paradyes on Shark Tank and all the latest updates we got. Hope they have some more heat in profit now!
I am Ranish Chauhan a.k.a. Fulmino Fan, and I am also a fan of Shark Tank India.