Glow Glossary’s Pitch on Shark Tank India

Glow Glossary, a brand focused on wellness that specializes in matcha-based products, recently sought Rs 60 lakh for 4% equity on Shark Tank India, which would value the company at Rs 15 crore. Unfortunately, the founders, Pratishtha and Kavya, left the show empty-handed after the sharks criticized the business’s clarity and structure.

Feedback from the Sharks

During the presentation, Anupam Mittal, the founder of Shaadi.com, provided blunt feedback regarding the entrepreneurs, particularly focusing on Pratishtha’s insufficient business acumen and self-assurance. He expressed his sentiments openly, implying that facing challenges is essential for growth and learning in the world of entrepreneurship.

Mittal’s feedback followed concerns from him and other sharks about the scalability of Glow Glossary and the limited industry knowledge of its founders. The brand, which obtains its matcha from Japan, aimed to generate Rs 1.5 crore in revenue during its first year and expected a profit margin of 45%. Nevertheless, the investors were not convinced by these ambitious figures due to the absence of a solid financial strategy.

Concerns Raised About Backgrounds

Another significant issue raised was Pratishtha’s background. Although she mentioned that her passion for matcha began during her six-year residence in New York, she conceded that she had never visited Japan, where their matcha is sourced. Kunal Bahl queried, “Then how do you source the powder?” to which Kavya responded that a Japanese friend oversees the supply chain. While Bahl recognised the quality of their matcha, he deemed their other products as “ordinary.”

Vineeta Singh also shared her doubts. Despite acknowledging the financial data, she concluded that the venture was “not investable at this stage,” highlighting the necessity for a more defined strategy.

Pratishtha’s Experience Under Scrutiny

Mittal continued to press Pratishtha regarding her work history, inquiring, “Have you had a job before?” Her negative reply led him to quip, “I thought so.”

The founders envisioned Glow Glossary as a Rs 300 crore enterprise, aspiring to collaborate with clients like Fig in Delhi and Soho House in Mumbai. However, the absence of a polished business strategy and industry experience ultimately dissuaded the investors from supporting their venture.