- 7 weeks ago
शार्कों की टंकी
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FunTranscript
00:00Chucks.
00:00Hello.
00:01Hi, brother.
00:01Hello, Kullu.
00:02You're being smart with us.
00:05Did you change my attention to the truth?
00:08I'm inspired by you.
00:09I like what you're wearing, Kullu.
00:11Thank you so much.
00:12Today, we're going to match up here.
00:16Today, we'll have four C's.
00:18Cut, color, clarity, and character.
00:22Nice.
00:23And maybe cash.
00:24Oh, yeah.
00:25It depends on you.
00:26I don't have it.
00:28Chucks, pressure is a very negative word.
00:30But today, we'll see the best thing from pressure.
00:34Diamonds.
00:37The two brands are going to deal with two lab-grown diamonds.
00:41One brand is two Bindas and Dramabas.
00:45And one brand is going to be a work of Guru Gram.
00:58I've been the one who really has been sacrificed to me, so, that I'm Sherry and I'm the founder of Emory.
01:12And because I'm Sherry and I'm the founder of Emory.
01:14Thank you so much.
01:14I'm the founder of Emory and I'm the founder of Emory.
01:16Hi Sharks, I am Parin Shah and this is our founder of True Diamond.
01:27Both brands will come together with Sharks and they will get equal amount of time.
01:32After the time is finished, this buzzer will break.
01:36As Sharks will listen to this buzzer, Sharks will be left only 5 minutes
01:40so that they can pitch their business here so that they can pitch their business.
01:47Sharks will listen to both pitches.
01:49After that, we will take a decision that Sharks will wear one ring, two rings, or two rings.
01:56Are you ready for the match-off?
01:58Let's do it!
01:59Now we will do the best part of Toss.
02:03Come here, Toss. You can see Toss. We are faithful.
02:10Emory has won the Toss.
02:13Let's go.
02:14And what will you choose?
02:15We will go first.
02:17First, Emory will pitch your business in front of you.
02:19And I will go back with two diamonds.
02:21Remember, I am the real hero of this set.
02:24Thank you so much.
02:30Hi Sharks.
02:31Hi.
02:32So, today we will play a true and false game with Aman.
02:35Let's do it.
02:36Aman, lab-grown diamonds are also real diamonds.
02:38But its value is 95% of its natural diamonds.
02:42True or false?
02:43True.
02:44Correct.
02:45Second, lab-grown diamonds' resale value is good.
02:48False.
02:49Wrong.
02:50Lab-grown diamonds' resale value is 90% of its natural diamonds.
02:54Sharks.
02:55In addition to all the benefits,
02:58Lab-grown diamonds are either unknown or misunderstood.
03:02Hi.
03:03I am Arushi Ren from Guru Gram.
03:05And I am with my brand Emery.
03:10Emery is a lab-grown diamond jewelry brand
03:12which offers 18-carat and 14-carat designs.
03:16After 2 years, we have made the buying experience of our customers.
03:23We have made zero risk of our lifetime warranty
03:26and the transparent pricing of many things.
03:29For today's consumers, jewelry is not just a product.
03:33It is a expression that they wear a day.
03:36And we are making their daily life.
03:41Sharks, after our first profitable store,
03:45we are ready to scale.
03:47Today, my ask is 75 lakhs in exchange for 1% equity.
03:53So Sharks, invest quickly.
03:56Because if you like it, you should put a ring on it.
04:00Arushi, a very nice pitch.
04:02Welcome to season 5.
04:04And I think that you have raised a very good point
04:06that the resale value of lab-grown diamonds is 90%.
04:09Even I didn't know that.
04:10But tell us more about yourself
04:12and then why did you think that this is what I want to do?
04:16So, I belong to Chandigarh.
04:18For the last 10 years, I lived in Gurgaon.
04:21I did my engineering at Punjab University at Chandigarh.
04:24After that, I did my MBA at I'm Calcutta.
04:26After that, my first job was in investment banking.
04:29So, I worked with Goldman Sachs in Bangalore.
04:32After that, I switched to a financial consulting firm in Gurgaon.
04:36After that, I switched to a political consulting firm
04:39where I got the opportunity to work in U.P. Assembly Elections
04:42in 2017.
04:44After that, I worked in OYO,
04:47where I did different roles,
04:49from business development to roads to marketing.
04:52Now, I got to learn a lot about consumer tech companies.
04:56And I got a lot of confidence
04:57that I can start something of my own.
04:59So, when did you start this?
05:01I started this in September.
05:03Sharks, do you have some gifts?
05:05Oh, nice.
05:06Gifts are even better.
05:07We like gifts.
05:08But I would have preferred real, but it's okay.
05:10Aman, lab diamonds are also real diamonds.
05:13He just said that.
05:14Yes.
05:15I know.
05:16Yes.
05:17He doesn't remember himself.
05:18Yes.
05:19I like this packaging.
05:21Very nice.
05:24Oh, wow.
05:25I like the packaging and the velvet and all.
05:30Thanks a lot, Namita.
05:32It's lit inside.
05:33Yes, yes.
05:34That's so cool.
05:35Thank you so much.
05:37And I love that you've given me a boat here.
05:39Boat.
05:40Yes, yes.
05:41Beautiful.
05:42So, Amit and Anupam are gifts for your wives.
05:44Because men's collection is our limited.
05:46Namita, your earrings are detachable studs.
05:49So, you can wear them as a dangler or just a stud.
05:53Yes, yes.
05:54This is so cool.
05:55How much is this?
05:56So, this is roughly around 35-40,000.
06:00How much would this be for?
06:01So, this ring will be around 45,000.
06:04I hope she likes it.
06:05I'm sure she will.
06:06It's beautiful.
06:08Arushi, this card that you've given us,
06:10is it regularly required or are you making it?
06:13No.
06:14It's not regularly required.
06:15But these are certified diamonds.
06:17And this is a diamond certification.
06:18And these are third-party certifications.
06:20Which we do from an external lab.
06:22But the price is rising every day.
06:25No, Amit.
06:26So, actually that is no longer true.
06:28This is another myth.
06:29So, the price of the lab grown diamonds has dropped in the past 2 years.
06:32But the last 2-3 months has increased.
06:34And now it's still stable.
06:35And you're saying that it won't go down from the past 1,000?
06:37At least in short term it won't go down.
06:39If there's a lot of technology improvements
06:41that we can produce more at the same time,
06:44then we can get in the future.
06:46But what is happening?
06:47There will be so many people coming.
06:48There will be IT like the jewel box.
06:50There will be so many players coming.
06:52How will you stand out?
06:53What is your core mode?
06:55What is the mode?
06:56I agree.
06:57There are many players coming.
06:58Because this category is creating so fast.
07:00But our first mode is our design.
07:02So, in today's rate, we have 600 more designs.
07:05Which makes us one of the largest in the online category in lab grown diamonds.
07:10But you're not a designer yourself.
07:11I'm not a designer.
07:12But I have a design team in house.
07:14Your core is business and business management.
07:16Right?
07:17That is the second mode.
07:18The execution.
07:19Right?
07:20In terms of online,
07:21we get a lot of keywords in SEO.
07:23In top 1, 2, 3 positions.
07:25And what is your company?
07:27What's your name behind it?
07:29Two Diamond.
07:30What is it?
07:31In my opinion,
07:32they are more offline first.
07:33We are more online first.
07:35Who is your biggest competitor?
07:36The biggest player in today's rate is Limelight.
07:39How big is Limelight?
07:40How big is Limelight?
07:41What's the revenue?
07:42Fy24 revenue was around 70 crores.
07:44Total industry lab grown.
07:46How big is the total sale of the year?
07:49So Amit,
07:50the market size in India is 3500 crores.
07:55In 3500 crores,
07:57you don't know about 70 crores in top players.
07:59That is the number 2 years ago.
08:01How much is it?
08:02The number is not found anywhere.
08:03To be honest.
08:04It will be around 250 crores.
08:05It will be around 250 crores.
08:06250 annual?
08:07That will be more.
08:08No.
08:09Aukera itself is doing between 200 and 300.
08:11Okay.
08:12There are some fragmented markets.
08:14There are many players.
08:15There are incumbent players,
08:17who are the old jewelers,
08:18who have started selling in their stores.
08:21Correct.
08:22And even big brands.
08:24In your category,
08:26how many people will be in your category?
08:28Oh God.
08:29There will be a lot.
08:30There will be more than 30 brands.
08:31There will be more than 30 brands.
08:32And Arushi,
08:34how do we compare it with jewel box?
08:36Our goal is that the jewel box is slightly different.
08:39Because they have more traditional designs.
08:42Our designs are more modern.
08:44Gen Z's and millennials.
08:46Second is that our online experience is better.
08:50So you are online first?
08:51Yes, we are online first.
08:52That is our big differentiation.
08:54Correct.
08:55Today's rate,
08:56we have an offline store.
08:57Our online business is 42%.
08:59And the remaining 58% is from our store.
09:02Where is the store?
09:04It is in Gurgaon,
09:05Sector 67.
09:06So what would be your strategy?
09:08Will offline stores scale?
09:10Fattak say,
09:11you are going to do it in a very measured manner.
09:13Anupam,
09:14we want to scale both.
09:16Because we believe,
09:17that discovery will be online,
09:18but conversion will happen offline.
09:20Today,
09:21our store's walk-in conversion is 45%.
09:24That is because,
09:25our customer already,
09:26our brand identifies,
09:27and comes to our store
09:29and purchases.
09:30So now,
09:31there are three other stores upcoming.
09:32One is in Noida,
09:33and two are going to come in Delhi,
09:35in like January and March respectively.
09:37And next financial year,
09:39we will open one store in Mumbai,
09:41Bangalore, Pune, Hyderabad,
09:42and Chennai.
09:43If you look at Tanish,
09:44BlueStone,
09:45they will open a store in one city,
09:46every 4-5-5-5 km.
09:48Absolutely.
09:49So why are you not seeing that as a strategy
09:50versus opening new towns?
09:52So Amit,
09:53if we open a store in Gurgaon,
09:55then the demand will cannibalize?
09:57No,
09:58I am a investor,
09:59and they also used to think the same way.
10:01They open at every 5-6 km.
10:03and they will open a store in New Itters.
10:05And this really works.
10:06It doesn't cannibalize.
10:07Rather, the whole thing increases.
10:08You should think over it.
10:09Okay.
10:10Sure.
10:11I'll definitely think over it.
10:12Yes.
10:13Arushi,
10:14I really like your designs.
10:16First of all,
10:17I've worn what you gifted me.
10:18Oh, lovely.
10:19It's very beautiful.
10:20Thank you for that.
10:21You're looking very lovely.
10:23And then even those earrings,
10:24very, very nice designs.
10:26I'll compliment you.
10:27Thank you so much.
10:28Now tell me about pricing.
10:29What is the cheapest
10:30and what is the most expensive?
10:31So,
10:32our prices start from 5,000.
10:34How much will I wear?
10:36This will be around 70,000.
10:3870?
10:39Yes.
10:40Expensive.
10:41It's beautiful.
10:42So,
10:43it starts from 5,000.
10:44Correct.
10:45And what is the most expensive thing?
10:47We have sets.
10:49For example,
10:50this necklace on top right.
10:51Correct.
10:52So, that is around 3,500,000.
10:54And the diamond necklace,
10:56that is also somewhere around 3 to 3,500,000.
10:59What is your repeat rate in customers?
11:01So, our 12 months repeat rate is 12%.
11:04What is your average order value?
11:0559,000.
11:0659,000.
11:07Yes.
11:08Do you know Tanishka how much is the average price?
11:10No.
11:11Tanishka doesn't know.
11:12The blue stone.
11:13Yes.
11:14The blue stone is 25,000.
11:15Exactly.
11:16The blue stone is 35,000.
11:17Correct.
11:18So, Amit, actually that's a very good point.
11:23Because we always want to see that our average order value is less.
11:27So, our channel will expand.
11:29I think the blue stone will also be less.
11:30The blue stone, all the off-line carat and all the off-line carat.
11:33Most of them.
11:34So, the difference.
11:35I'll tell you the difference.
11:36What is the difference?
11:37So, when people go there, they are looking for diamond jewelry.
11:40When we have today's date, they are looking for solitary diamond jewelry.
11:43That's right.
11:44So, people want to buy big diamonds.
11:46They want to buy one carat, two carat diamonds.
11:47That's a good point.
11:48So, that is why it is higher.
11:49I think you have 59,000 battery average.
11:50Correct.
11:51Correct.
11:52So, I have two questions.
11:53First, store economics.
11:54How much money did you make store?
11:56How much money did you make store?
11:57How much money did you make?
11:58How much money did you make?
11:59How much money did you make inventory?
12:00How much money did you make?
12:01How much money did you make store level?
12:02So, in store, our capex was 55,000,000.
12:05Okay.
12:06And we kept inventory of around 1.5 CR on cost.
12:09Which is around 2.25 CR in terms of sale value.
12:13You have told your margin too.
12:14Okay.
12:15Yeah.
12:16I mean, I'm very happy to tell you that our store's payback has come in 7 months.
12:20Very nice.
12:21And the store was from month 1 also.
12:24So, month 1 we did around 31 lakhs of revenue.
12:27And we've more than broke even.
12:29And we've always been profitable.
12:31How much money did that store last month?
12:32How much money did that store last month?
12:3393 lakhs.
12:34Well done.
12:35As we've talked about, a lot of people are coming in this segment.
12:38Given this significant competition,
12:405 years later Arushi,
12:41what are you leaders in the niche?
12:44Our niche is diamond jewelry which is affordable
12:47for millennials and Gen Z's.
12:49And we think that we'll stand out because of our online presence.
12:53So, how much of our peers' average price is Arushi?
12:56So, I'll tell my price first.
12:57Our 1-carat diamond.
12:59We retail at $32,000.
13:00Okay.
13:01Some of the other brands also retail it at $60,000, $55,000.
13:05And then there are certain brands that will do it at $28,000, $25,000 to $28,000.
13:09So, we sit somewhere in between.
13:11If you source this from the source,
13:13that 1-carat VSC 1 will cost you $15,000.
13:16It costs us around $10,000.
13:18Okay.
13:19There you go.
13:21You're talking about Gen Z millennials.
13:23Okay?
13:24But if you look at your store,
13:25it doesn't feel so much Gen Z millennial vibe.
13:27So, let's see your website.
13:30Yeah, sure.
13:31So, this is our banner.
13:36And these are the categories that we operated.
13:38It's boring.
13:39So, rings, earrings.
13:40Boring website.
13:41But we want to keep it clean.
13:43But if you look at Gen Z and millennials' purchase pattern,
13:48they don't just go and see the product.
13:50They want to understand the story.
13:51And after the story, you are selling it.
13:53Because you are selling 1,000,000 people.
13:55So, what is your storytelling skills weak?
13:58So, I think Aman, that is not correct.
14:00So, to create trust.
14:02Right?
14:03We don't want to give a very...
14:04To create trust, you can only see the product.
14:07You have only seen the product.
14:08No, no, no.
14:09Because if you go to our product page,
14:11I think it has been missed here.
14:12So, you will see there is a full detailed diamond breakup
14:15and price breakup.
14:16Can we go back to the website?
14:17If you look on Instagram,
14:19you follow the grid structure.
14:21Instagram, I agree.
14:23But that design philosophy flows everywhere.
14:27Okay, Aman, we will work.
14:30There is no reviews.
14:32Now, we take all reviews from Google.
14:34So, that can create trust.
14:35Yeah, but you can integrate that.
14:37Yeah, okay.
14:38So, if you first look at our images.
14:40These are very high quality images,
14:42which are very close to the real product.
14:44The brand has such quality images.
14:46The brand website and product website is different.
14:48And if we go to the price breakup,
14:51you can see the full price breakup.
14:53No, Arushi.
14:54I expected more.
14:55I had a little expectation.
14:56Aman, I will take your feedback.
14:58It's a point to me.
15:00You need to understand your unit economics.
15:02Okay.
15:03Yeah, sure.
15:04Don't forget that.
15:05I will talk about the blended level.
15:06Our cogs are 62%.
15:07Our cogs are 62%.
15:08Our other direct costs are 3%.
15:10Our gross margin is 35%.
15:1235%.
15:13Yeah.
15:14After that, our salaries are 20%.
15:16Our marketing is 8%.
15:19And our rent and admin is 8%.
15:22And it's 1% miscellaneous.
15:24So, if I'm talking about YTD,
15:25if I'm talking about minus 2% EBITDA.
15:28But last financial year,
15:29we had plus 0.8% EBITDA.
15:31And this financial year,
15:32we expect that we will get 6% EBITDA.
15:35Plus…
15:36How much was the sale last year?
15:374.5 crore.
15:38This year?
15:39So, this year, YTD is 6.2 crores.
15:41But we are expecting,
15:42full year,
15:43we will get 13 crores safe side.
15:46We will generate EBITDA?
15:48Correct.
15:49Yes.
15:50And how much cash do we have?
15:5130 lakhs in the bank.
15:54And what is your funding history?
15:56Do you think you bought your money?
15:58No.
15:59No?
16:00We have no money.
16:01Everything is bootstrapped.
16:02Wow.
16:03Amazing.
16:04How much inventory is your return?
16:05What amount of inventory is your return?
16:06RTS is 50% ready to ship,
16:08and it's 50% make-you order.
16:10How much inventory is your return?
16:11So, what amount of inventory is your return?
16:12Its 10.
16:13Amazing.
16:14It is not true.
16:15Insane.
16:16In jewelry.
16:18Inventory turnover
16:20says this metric,
16:21that a company,
16:22how many times,
16:23their inventory is sold
16:26and is refilled again?
16:28High turnover means
16:30that the company is sold very quickly
16:32and low turnover.
16:33and low turnover means that the inventory is in idle company.
16:38Why is the value of 75 crore?
16:40Aman, this year we will exit from ARR to 16 crore.
16:44So, we will take a multiple of 5X to 75 crore.
16:475X? Multiple? On a gross margin of business, 35%.
16:51Why didn't you take a multiple?
16:53Why do you want to do it? What are you trying to prove to whom?
16:57I am not trying to prove anything to anyone.
16:59I think that I want to do it for myself.
17:01Because it was my dream to be my own business.
17:05Why?
17:06Because there are all businesses in my family.
17:08Well answered. Well answered, Arushi.
17:11So, my extended family lives in Surat.
17:14And when I was in Surat, when I was in Surat,
17:16the Surat Diamonds was a thing.
17:18Arushi, well done. I want to congratulate you.
17:20You have bootstrapped and stood up.
17:22It's impressive.
17:23Thank you. I learned a lot from Ritesh.
17:28What is the eventual goal?
17:31We have to make a big business in public.
17:34We have to make a big business in 5 years.
17:35How do you think about M&A?
17:37How do you think about M&A?
17:38No, Ritesh.
17:39I definitely want to make a big business in public.
17:41I am here in this for the long run.
17:43So, in 5 years, how much revenue and profits are we made here?
17:47So, 5 years later, we are expecting that this business will be $1,300 crore revenue.
17:52Wow.
17:53You can see 5 years ahead to 1,300 crores.
17:56Yes.
17:57And how much income is $1,300 crores?
17:58So, we are targeting 10% of the pack.
18:00In Table Street.
18:01Yeah.
18:02So, that is what we are doing.
18:03$130 crore.
18:04Correct.
18:06Thank you so much.
18:07Amazing business build.
18:09Let me go.
18:10No, no.
18:11It's a bad idea.
18:12Don't do it.
18:13Don't do it.
18:14Don't do it.
18:15Namita Ji.
18:16Wow.
18:17My God.
18:18You haven't seen this aquarium in this aquarium like this.
18:34Oh, thank you.
18:35I know.
18:36I know.
18:37I know.
18:38This heart, this hand and this ring are only for you.
18:41Ooh.
18:42Will you accept my proposal?
18:43My God.
18:44Of course, I do.
18:45By the way, what is the proposal?
18:46We will come to that.
18:48We will accept it.
18:50I accept it.
18:52There will be anything for diamonds.
18:55There will be anything for diamonds.
18:56There will be anything for diamonds.
18:58Okay, brother.
18:59Love it.
19:00Your job has been done.
19:01You take it and take it back.
19:04This is not a regular diamond.
19:06This is a Portuguese true diamond.
19:09There are three times more shine, sparkle and fire compared to regular diamonds.
19:13My God.
19:14Nice.
19:15Shaks.
19:16Shaks.
19:17You may be afraid of saying it.
19:18But this ring is genuinely solid.
19:20Not only this ring.
19:21True Diamond is the most innovative ring specialist.
19:28Shaks.
19:29Shaks.
19:30Shaks.
19:31Shaks.
19:32Shaks.
19:33Shaks.
19:34Shaks.
19:35Shaks.
19:36Shaks.
19:37Shaks.
19:38Shaks.
19:39Shaks.
19:40Shaks.
19:41Shaks.
19:42Shaks.
19:43Shaks.
19:44Shaks.
19:45Shaks.
19:46Shaks.
19:47Shaks.
19:48Shaks.
19:49Shaks.
19:50Shaks.
19:51Shaks.
19:52Shaks.
19:53Shaks.
19:54Shaks.
19:55Shaks.
19:56Shaks.
19:57Shaks.
19:58Shaks.
19:59Shaks.
20:00Shaks.
20:01Shaks.
20:02Shaks.
20:03Shaks.
20:04Shaks.
20:05Shaks.
20:06Shaks.
20:07Shaks.
20:08Shaks.
20:09Shaks.
20:10Shaks.
20:11Shaks.
20:12Shaks.
20:13You are not my purse.
20:15Oh my God.
20:16Before that, we accepted our proposal already.
20:19Who is that?
20:19Who is that?
20:20That is Mr. Kunal.
20:22Oh, I thought I'm not your first about something else.
20:27Accepted, you mean he's an investor?
20:29Yes.
20:30Okay.
20:31How did he invest in his business?
20:33Sir, when he invested in the first round, he invested in the post money valuation.
20:37And when he invested in the second round, he invested in the post money valuation.
20:40Okay, so he came to this value?
20:41Yes.
20:41And how much did you raised both?
20:44Sir, in the first round, we raised 8.35 crores.
20:47And in the second round, we raised 25.92 crores.
20:50Total.
20:51Tell me, I expected that this is also lab-grown diamond.
20:56What is the insight that you have lab-grown natural diamonds, other types of stones positioned
21:05in a time where everybody is running after this lab-grown diamond business?
21:09Actually, exactly what it is.
21:11Everybody is running behind that.
21:13Right.
21:14So, there is no differentiation in it.
21:16We wanted to own something more, something deeper.
21:19And we thought that if we can become a category specialist or a category master, that's a better positioning to have.
21:25So, you both do?
21:26We offer the customer both.
21:28So, you had the start as well as you did with the start lab-grown.
21:32And you pivoted it.
21:33We did with the start lab-grown.
21:35Okay, that's all right.
21:36And then we saw that this is not long-term sustainable.
21:39Because many brands are saying that story.
21:41Yes.
21:42It's a cluttered market.
21:43There's so many jolas.
21:44There's no differentiation.
21:45Now, what's your positioning?
21:46Today, our positioning is that we are a content-first innovative ring specialist.
21:54You will make rings very good.
21:55By the way, I love this.
21:56Thank you so much.
21:57This double ring and this, I really like it.
22:01It's called a three-lover's ring.
22:02Three-lover's ring.
22:04Oh.
22:05This is a beautiful design too, guys.
22:06Thank you so much.
22:07Yes.
22:08But this is a very good ring.
22:09I really like it.
22:10What's this ring?
22:12Oh, that's the stairway to heaven.
22:14Stairway to heaven?
22:16It's a very opener type.
22:17Sir, this is very cut.
22:19But some of these rings are great from a marketing story or position.
22:22Look, this is a very common ring.
22:24It's a very normal ring.
22:26I'm looking at it from childhood.
22:27Intentionally, it was completely cut and completely regular.
22:30To show that we eventually do both.
22:35Your story.
22:36How did you get it?
22:37How did this start?
22:38I'm a Chartered Accountant by qualification.
22:41I was in an investor role.
22:44With whom?
22:45Equanimity Ventures.
22:46Mumbai based.
22:47Got it.
22:48Almost five years I spent there.
22:49After that, I joined a brand for half a year.
22:51Rene Cosmetics.
22:52Ashatosh?
22:53Yes, you're right.
22:54And then January last year is when we started.
22:56Understood.
22:57I'm a marketeer from my heart.
22:59I started my career at L'Oreal.
23:00I spent almost six years at L'Oreal across various brands.
23:03After that, I joined Mariko in the strategic new business team.
23:07Interesting.
23:08And in my last stint, in almost four years, I was a men's grooming brand, Beardoka.
23:12Marketing head and online business head.
23:14And you didn't study?
23:15I studied?
23:16I mean, I'm a chemical engineer.
23:20I've actually studied Cosmetics and Perfumery.
23:23Oh, wow.
23:24Where did you study?
23:25In Italy and France.
23:26Okay.
23:27You look like you come from Italy.
23:29Yes, correct.
23:31Yeah.
23:32But as you said, these rings are different.
23:35There are cocktail rings.
23:36They are also very bold and different.
23:41People buy drinks.
23:42They buy?
23:43Cocktail collection is meant, sir, for a lot of marketing.
23:47Contribution-wise, the solitaire rings are the most.
23:51So, cocktail rings won't be much bigger.
23:53No.
23:54Engagement rings is the largest category.
23:56How much?
23:57What percent of your total sales?
23:58Overall, about 65 to 70% of our…
24:0065 to 75% is engagement rings?
24:03Rings.
24:04Yes.
24:05Total rings.
24:06But are you selling rings?
24:07No.
24:08We focus on rings and marketing.
24:11We are known as a rings brand.
24:12But we don't know the customer.
24:14We don't know the customer.
24:15What do you sell the balance of 25%?
24:17If you've come, you want to sell it.
24:19No.
24:2075% of your sales is rings.
24:22What do you sell the balance of 30%?
24:2415% is earrings.
24:26About 10 to 15% are pendants.
24:28End rest is bracelets.
24:29Small necklaces, etc.
24:30And what is the most expensive and expensive thing?
24:32And what is the average order value?
24:34The average order value is 1 lakh for us.
24:351 lakh.
24:361 lakh.
24:37And the most expensive and expensive thing?
24:38Typically, under 30,000-40,000, you'll get very little.
24:42Expensive can go up to 5, 7, 10 lakh rupees.
24:44How much is this for?
24:45This will be about 7 to 7 and a half lakh.
24:477 to 7 and a half lakh.
24:48Wow.
24:49And this?
24:50You want to go and check?
24:51This is about 1.8 lakhs.
24:55And this will be about 1.5.
24:56This is about 4 and a half.
24:57The Portuguese cut.
24:58This is 4 and a half.
24:59The Portuguese cut is significantly more expensive.
25:004 and a half, and this is 1 and a half.
25:011 and a half.
25:02The diamond really, or not?
25:04These are all lab-grown.
25:05All lab-grown lab-grown.
25:06How much is this?
25:07This one will be about 2 and a half.
25:10I love the designs.
25:11Very beautiful.
25:12How much is this?
25:14This will be about 1.8 lakhs.
25:18Now, you will also say that this is all lab-grown.
25:22I have a lot of confusion.
25:23Sir, we keep all lab-grown in inventory because it is more capital-efficient.
25:27But customers like the design.
25:29I like the design.
25:30But I will buy it in natural.
25:32So then we give them a quotation for lab-grown and natural.
25:35And then they can choose what they want.
25:37Okay, so this is a new twist.
25:40You started out saying that you have all types of stones, particularly diamonds,
25:45and you had these exotic names for your diamonds.
25:47Now, you are saying that we only carry lab-grown.
25:50But if the customer wants, give them something else.
25:55Is that, are you still holding to that?
25:56100%.
25:57How much is lab-grown in total sales?
26:00Sir, about 95% is lab-grown.
26:035% is natural.
26:04Bro, then the story doesn't match what you are selling.
26:08You are saying that you are doing this.
26:10Then you are doing this.
26:11Then you are selling more.
26:12Then you are saying that you don't do lab-grown.
26:13Then you are saying that you are doing everything.
26:14I am a little confused.
26:17Sir, we have never said that we don't do lab-grown.
26:19It is not about being literal.
26:21It is about giving the impression.
26:23Just because you have used the word.
26:26Technically you may be right.
26:27You can claim plausible deniability.
26:29Okay, we can do that.
26:31But we are sitting here for a reason.
26:33We will accept that.
26:34So, what impression you gave was something very different.
26:36Okay.
26:37Why?
26:38We offered the customer the choice.
26:39Just to convey this.
26:40I think you are too focused on drama much.
26:43Yeah, I agree.
26:44Let's start talking the real facts.
26:47Sure.
26:48Sure.
26:49What is true diamond?
26:50What is true diamond now?
26:51The name?
26:52The name we wanted to keep it very, very simple.
26:55Of what we stand for.
26:56The name of the brand was Beard.
26:57Everyone knew the name of the brand.
26:58So, that's why we keep the name of the brand.
26:59The name of the brand was Beard.
27:00Everyone knew the name of the brand.
27:02So, that's why we keep the name of the brand.
27:04It is simple.
27:05But there will not be mis-selling when people come and buy it.
27:08And they know that there are all lab-grown diamonds.
27:10That's false diamond.
27:11It's not real diamond.
27:12No.
27:13Actually, lab-grown diamond is also real and true diamond.
27:15That's what I do technically understand.
27:17No, I think it's about how do you communicate to the brand.
27:20How do you tell customers?
27:21If you're telling them that this is your brand.
27:25But your name, true diamond, actually means that it is not a lab-grown.
27:29Frankly speaking.
27:30Okay, guys.
27:31Should we get to the business?
27:32What's actually happening?
27:34Sure.
27:35Can you tell us about the profit?
27:36So, we started in January 2024.
27:39In the financial year of 2024-2025,
27:42we had revenue of 11.7 crores in the first year.
27:44In the first year, we lost about 60 lakh rupees.
27:46In 2024-2025.
27:47In 2024-2025.
27:48In the first full year of operations.
27:49In 2025-2026, up to November, we have about 11 crores revenue.
27:54Our expectation is that we will end this year in the range of 22 to 25 crores.
27:58Loss?
27:59Yes, sir.
28:00Our negative 1.5 crores is now.
28:02And we are expecting that eventually through the year,
28:04we will be about, let's say, minus 2 or 2.25 crores.
28:06Channel split?
28:07So, we are a very online first.
28:09Marketing, discovery and funnel of the entire thing.
28:13While the conversion can happen significantly at the store.
28:16So, for example, as we talked about in November,
28:18our total revenue was about 2 crores.
28:21In 2 crores, our almost 1.5 crores was through the stores.
28:25Right?
28:26And the end sale happened at the store.
28:28While the discovery actually still happened online,
28:30a WhatsApp discussion and then the conversion.
28:32So, you are online first.
28:33Yes, absolutely.
28:34The money you're talking about 50 lakh rupees,
28:36you're talking about online,
28:38what is the CAC and economics?
28:43On an average, it's just not online.
28:45We are marketing.
28:46Performance marketing, for example,
28:48total about 8 lakh on an average monthly.
28:51My friend, you are telling me
28:52that 50 lakh sales is online per month.
28:55Is that right or wrong?
28:56First, tell me the truth.
28:57First, clarify, sir.
28:59On-line, there's nothing to do with the website.
29:02There's nothing to do with the website.
29:03There's nothing to do with the website.
29:04The definition of online is that
29:06the customer has come
29:07and our conversation has been on WhatsApp.
29:09Without visiting a store,
29:11it's been closed.
29:12Is it that you're not understanding
29:14if there's an issue in our understanding,
29:16that you are actually not true?
29:19Because every thing you're saying,
29:22when the second or third drilldown happens,
29:25it turns out it is not true,
29:27unlike your brand.
29:31No, this is not true, sir.
29:32I will also understand our misunderstanding.
29:34When we say online,
29:36we are not pure play,
29:38e-commerce, or a DTC.
29:40The definition of online is clear.
29:41What is online or what is offline?
29:42Actually, when we started our business,
29:44we had no stores.
29:46We had reached 70-80 lakhs without any store.
29:50We were talking online,
29:51but it was not online.
29:53It was not e-commerce.
29:54It was assisted selling.
29:55We referred to that as online.
29:57You said yesterday,
29:58I'm a consumer tech company,
30:00because I think of myself as consumer tech.
30:02It doesn't matter.
30:03What do you think?
30:04What matters is what the world knows as reality.
30:07Agreed, agreed.
30:08We can call this 100% offline.
30:09Offline?
30:10Correct.
30:11Okay, so be clear about that.
30:13Emory's repeat rate was about 12%.
30:16What is your repeat rate?
30:17On a monthly basis,
30:18about 20-25% of our business
30:21comes from repeat buyers.
30:22People who have already bought it.
30:23Monthly, 20-25%?
30:24Yes, you're right.
30:25To set up a store,
30:26Emory takes about 2 crores.
30:27How much do you take to set up a store?
30:28It's about 3.5 crores.
30:30How many stores do you have?
30:32Currently,
30:33we have got one full-fledged store in Noida.
30:35We have got a boutique in Dadar.
30:37And we have got a small kiosk in Hyderabad.
30:39And just 10-15 days ago,
30:41we have got a small store in Oberoi and Gorega Mall.
30:43So, malls too?
30:44Yes.
30:45So, you have a total of 3 stores.
30:46Yes, you're right.
30:47So, malls' rentals are more than first-door cost?
30:49Yes.
30:50Of course, in KPEX,
30:52there are also intricacies that
30:53there are certain guidelines
30:54that you can use this material.
30:56Do you have economics?
30:57Sir, about 35% is our gross margin.
30:59All direct expenses are covered.
31:01About 10-15% of marketing,
31:04which includes performance and branding, etc.
31:07About 5%…
31:08No, no.
31:09You said 15% of marketing,
31:10about 2 crores sales.
31:11Yes.
31:12You said 8 lakhs a little bit earlier,
31:13about the marketing cost.
31:14Now, it's about 30 lakhs.
31:15How did you change that number?
31:16No, sir.
31:17I told you the last year.
31:18Last month was very good, right?
31:19So, we didn't spend so much,
31:20but our revenue firm is better.
31:21No.
31:2215% of marketing,
31:2310 to 15.
31:24Yes.
31:25You said 10 lakhs,
31:26lower side.
31:2720 lakhs.
31:28You said 8 lakhs a little bit earlier.
31:30No, sir.
31:31No, sir.
31:32Marketing is not a performance marketing.
31:33We also do a lot of content or brand building.
31:35Yes.
31:36Your numbers are all over the place.
31:37Trust me.
31:38If you don't even know about the truth,
31:40we don't trust your numbers here.
31:43It's all over the place.
31:4535% gross margin.
31:47Yes.
31:48About 10 to 15% is our marketing spend,
31:50which includes performance and branding both.
31:52All marketing has come.
31:53Right?
31:54About 5% is rental expenses.
31:5510% is the salary cost of the staff at the stores.
31:58And how much is your salary?
32:00We don't have to draw anything.
32:01Okay.
32:02Since we started.
32:03And the rest of the overheads,
32:04which is in the range of 15 to 20%.
32:06Right?
32:07How big is the overhead?
32:09We are very clear that if we expand,
32:11we have to ready infrastructure.
32:13So, we've got, let's say,
32:14a head of production,
32:15a head of trading,
32:16because training is very important at the stores.
32:18How do you present manufacturing in-house?
32:20No, sir.
32:21It's not in-house.
32:22It's a job work outsource manager.
32:23So, sir.
32:24How much is the overhead?
32:25No, sir.
32:26It's all about your travel expenses and stuff like that.
32:28Really?
32:2940,000,000 euros.
32:30Italy is going?
32:31No, sir.
32:32I told you,
32:33if you get 10% of this month,
32:34it's 10%.
32:35It's going to Italy.
32:36I wish.
32:37I wish.
32:38You've raised 8 crores before,
32:4025 crores,
32:4133 crores.
32:4235 crores.
32:43No, sir.
32:44No, sir.
32:45No, sir.
32:46Perfect.
32:47So, now we have 18 crores in the bank.
32:50We have 12 crores in the bank.
32:52So, that's 30 crores.
32:53We have 1 crore security deposit.
32:56We have 1 crore GST refundable.
32:58And we have 8.5 crores in our capex.
33:00How much is the inventory?
33:01Sir, in today's history,
33:03it's almost 1.8 to 2 times.
33:05Per year?
33:06Per year, for an annual basis.
33:07America's inventory turn is 10.
33:10Maybe we can learn more from people,
33:12but right now,
33:13what we understand,
33:14we are not very bad.
33:15That's what we feel.
33:161.5 is definitely bad.
33:173 is still decent for jewelry industry.
33:20Fair.
33:21Maybe we'll learn more.
33:22And how much do we want to make this for 5 years?
33:25The target is that we have 1,000 crores revenue,
33:27profitable,
33:28and a brand which people think about
33:29and can recall.
33:30That's a personal ambition.
33:32But you yourself don't know what your brand is.
33:34So, what do we recall?
33:38If I choose one,
33:40two things that are good for you.
33:43Their designs are good.
33:45They work on different categories.
33:46Their store's interior is also good.
33:48We thought it was nice.
33:49Yeah.
33:50Our differentiation,
33:51we are also clear on.
33:52What is the differentiation?
33:54So, our content is very, very unique.
33:57I wish I could show that to you.
33:58Show it to us.
33:59Look at this.
34:00Sorry.
34:01It might be a little censored.
34:02I hope it's okay too.
34:03Phone.
34:04Okay.
34:07I love you, mommy.
34:10We had someone from Delhi come in last week.
34:12I'm looking for a discount.
34:14Where are your fortuners?
34:16There's no place.
34:18Saoirse,
34:19we have arrived.
34:20I'm looking for a diamond.
34:22Here's something from a new collection.
34:23Saoirse,
34:24get the biggest ring we have.
34:26This is funny.
34:27This is our finest 10 carat diamond ring for men.
34:29I love you.
34:30So, is there anything else we can get you?
34:31Maybe something for your wife?
34:32Yes, of course.
34:33I want a badge discount.
34:34Oh, we don't do that.
34:35Surely a man of your stature doesn't look at prices.
34:37Let alone discount.
34:38Yes, I don't look at discounts.
34:39Discounts.
34:40Discounts.
34:41Discounts.
34:42Discounts.
34:43Discounts.
34:44Discounts.
34:45Discounts.
34:46Discounts.
34:47Discounts.
34:48Discounts.
34:49Discounts.
34:50Discounts.
34:51Discounts.
34:52Discounts.
34:54Discounts.
34:55Discounts.
34:56Discount looks at me.
34:57Dilli waale SISRs.
35:01Nice content.
35:02Okay we get your vibe.
35:05It's different from what normal marketing is.
35:07То actual możơ его общем connected to the culture.
35:08So majority inquiries hear them though.
35:09Makes sense.
35:15I am Arushi Jain and I am Emery's founder.
35:43It is a lab-grown diamond jewelry brand that offers designed in 18-karat and 14-karat.
35:49I am Parin Shah and we are the founder of True Diamond.
35:53True Diamond is the most innovative ring specialist.
35:56So you are not just lab-grown?
35:58No, we started from lab-grown and then we saw that this is not long-term sustainable.
36:03Today my ask is 75 lakhs in exchange for 1% equity.
36:081.08 crores for 1% equity.
36:12Our prices start from 5,000 lakhs.
36:15We have sets in the most expensive.
36:17That is around 3.5 lakhs.
36:21You will get a lot of things below 35-40,000.
36:24Expensive can go up to 5-7-10 lakhs.
36:27But this is very expensive.
36:29I don't know how much it is.
36:30It is a lot of opener types.
36:31It is not a diamond.
36:32About 95% is lab-grown.
36:345% is natural.
36:36Then your story doesn't match what you are selling.
36:39That is our lab-grown business.
36:40What is your average order value?
36:4359,000.
36:44Average order value is 1 lakh for us.
36:46You are online first.
36:47Yes, absolutely.
36:48In my opinion, we are more offline first.
36:51We are more online first.
36:53Is that right or wrong?
36:54First, tell me the truth.
36:56Online means nothing.
36:57There is nothing on the website.
36:58There is no sale on the website.
36:59There is no sale on the website.
37:00Every thing you are saying,
37:02it turns out it is not true.
37:05Unlike your brand.
37:06Agreed, agreed.
37:07We can call this 100% offline.
37:08How much is the sale?
37:10So, this year YTD is 6.2 crores.
37:12Full year, we will save 13 crores.
37:15We have about 11 crores revenue.
37:18We will end this year in the range of 22-25 crores.
37:20We will expect that we will add 6%.
37:23Through the year, we will be about, let's say,
37:25minus 2 or 2.25 crores.
37:27How much inventory is there?
37:28It's 10.
37:29Amazing.
37:30I don't know.
37:31It's almost 1.8 to 2 times.
37:331.5 is definitely bad.
37:35Our content is very, very alert.
37:38Look at this diamond that people know
37:40that I have a car, money, money.
37:43Nice content.
37:44These are the categories that we operate in.
37:46It's boring websites.
37:47What are your storytelling skills weak?
37:49What are your storytelling skills weak?
37:57Welcome back to Shark Tank India.
37:58Co-presented by Canva and OPPO.
38:00Co-powered by Lahore Zira.
38:01And partners, Raison Solar,
38:03Fixed Derma,
38:04Payment Gateway,
38:05and White Gold.
38:06It broke,
38:07but the tension is still there.
38:08Will you see a mind-blowing pitch?
38:10Or a mind-blasting blunder?
38:11Let's see.
38:12Let's see.
38:24Welcome back.
38:30So, I think I love the way you've built a business.
38:33You've built a lot of bootstraps.
38:35A seven-month payback is unheard of in this industry.
38:38And the inventory turns are mind-blowing.
38:40Can inventory turn is crazy.
38:42Massive, yeah.
38:45And repeat rates are like amazing.
38:47So, I would definitely love to make you an offer
38:49and partner with you.
38:53I would offer 75 lakhs that you asked for.
38:56For two percent.
38:57Okay.
38:58That's my offer.
39:00Thank you so much for your offer.
39:01Arushi,
39:02I think your focus on designs is very good.
39:08So, I'll make you an offer too.
39:10Would you like to take more capital?
39:13We can take more capital.
39:15I'll give you 50 crores.
39:17You asked for 75 lakhs.
39:20Yes.
39:21So, I'll give you 1.5 crores.
39:23Okay.
39:24Okay.
39:25So, that's three percent.
39:26Hmm.
39:27That's my offer.
39:29Arushi.
39:30Yes.
39:31Execution outstanding.
39:33Pathetic on brand building and story telling.
39:37And I think you don't need investment.
39:39I think you need intervention.
39:41Intervention on your brand building and story.
39:43So, I'll give you an offer.
39:441.5 crores for two percent.
39:45Okay.
39:46Plus, I'll take another one percent.
39:47Shit.
39:48For being a brand builder who will have to work closely with you.
39:49So, my total offer will be 1.5 crores for three percent.
39:52Same as Anupam.
39:53Same as Anupam.
39:54Same as Anupam.
39:55Yeah, but two plus one.
39:56Make it one plus one plus one.
39:59Right?
40:00And take back one and a half percent for tolerating his bullshit.
40:04What I like is a little bit of your spunk.
40:07Like you've asked what you are trying to prove.
40:12And I was eagerly awaiting your answer to how you will give your answer.
40:14So, how you get up?
40:15You will get up.
40:16But you so calmly and confidently said that I'm not trying to prove anything to anyone.
40:19What I liked is a little bit of your spunk.
40:22Like I asked you what are you trying to prove.
40:25And I was eagerly awaiting that you will give me the answer.
40:28That you will get out of here.
40:29But you so calmly and confidently said,
40:32I'm not trying to prove anything to anyone.
40:34I think I want to do this for myself.
40:36Because I was dreaming of my own business.
40:40Why?
40:41Because I have all my family in my family.
40:43And I think that actually won my heart.
40:46So I'm going to make you an offer.
40:53Which is 75 lakhs and 1.5%.
40:56Which gives you the 50 crore valuation.
40:59But at a lesser dilution.
41:01Okay, thank you.
41:03It's always very special for me.
41:06It almost feels like somebody from the family has gone out and done a great job.
41:10So congratulations.
41:12I'll give you an offer.
41:1675 lakhs for 2%.
41:17Okay.
41:21I want to summarize the offers for you.
41:23Ritesh and Amit's offer is the same.
41:25Which is 75 lakhs for 2%.
41:27I'm 75 lakhs for 1.5%.
41:31And these two offers are 1.5 crore for 3%.
41:35And by the way, I've seen my earring on my earring.
41:37I mean, I didn't notice it, but that was so sweet.
41:42So thank you for that.
41:44All right, Arushi.
41:46What are we going to do now?
41:46Decision time now.
41:47Decision time.
41:48Five offers.
41:48So we need a lot of capital in this business.
41:53So I'm going to give you a counter.
41:572.5 crores for 5%.
41:59And all of you come together.
42:03Do it.
42:17I'll be fine for it.
42:19Wait one second.
42:21Let Anupam drive this.
42:24Yeah, Ismay.
42:25Are you being profitable this year?
42:28Yes, we will be profitable.
42:30But what about when you become 10% profitable?
42:34Maybe you have 1% of sales you can give us in royalty.
42:37Until we make back the principal.
42:40Plus you get a five shark deal.
42:43This season's first five shark deal.
42:46It doesn't have a tank today.
42:47It doesn't have a tank.
42:49Look, DDSJ.
42:52No, I won't.
42:55You didn't have a five shark deal.
42:57I won't.
42:57I can give you the same deal.
43:01But all of them are giving without roy.
43:07Amin, why don't you rewind?
43:09I think there will be a lot of equity.
43:11I'll pay more equity and pay more money.
43:15So I can give you the same offer without roy.
43:21So we have two offers.
43:23One offer is 2.5 crores for 5%.
43:26Okay.
43:27We don't have to take royalty.
43:29Why don't I drop royalty?
43:32So we're going to 4 without royalty.
43:352.5 crores for 5%.
43:37No, I'm not.
43:38I don't have that 1% deal.
43:40I'm not that interested.
43:43I'm going to ask you,
43:44if you want to increase your investment in the same deal,
43:47for higher equity,
43:48we can do that too.
43:49Yeah, I want at least 3%.
43:51So if you're okay with that,
43:52let's close the deal.
43:53Yes, I will increase the investment.
43:54So we are saying 3 crores for 6%.
43:59That's what we are doing?
44:00That's right.
44:00For us first.
44:02For four of them,
44:03not me,
44:04and no royalty.
44:06And my offer is 2 crores,
44:084%,
44:09no royalty.
44:10You are 3 crores,
44:116%,
44:12no royalty,
44:12only me.
44:14What are you doing?
44:15What are you doing?
44:16Look at how many of you are doing.
44:17Arushi,
44:17make a decision.
44:19I've made my decision.
44:20What's your decision?
44:21What's your decision?
44:22What's your decision?
44:23Arushi, what's your decision?
44:28Avan, thank you for the offer.
44:29But Ritesh,
44:30Lamita,
44:31Unforb,
44:31and Amit,
44:32deal paki.
44:33Thank you very much.
44:34Quick decision making.
44:35I like that.
44:36I'm putting in 1.5.
44:37Yes.
44:38I got it.
44:38Arushi,
44:39you will know quickly
44:40quantity and quality.
44:42You don't have to worry about
44:43the other three.
44:44I have more expertise.
44:45You have quality and quantity.
44:47Okay, okay.
44:48Quantity and quality
44:49are known for 6 years.
44:53My preference is that
44:54sharks can be more and more.
44:56So in the future,
44:57we will make a big company
44:58and help in the future.
44:59The more people will get
45:01more support,
45:02more access to resources.
45:06That's why I have
45:06chosen a deal
45:08over Raman.
45:08I am super happy
45:10with the deal.
45:23Guys,
45:24welcome back.
45:25I was telling you
45:26that I like your drama
45:28and your sense
45:29of the Jawa the Vibra
45:30and there's nothing wrong
45:31with it.
45:31But with that drama,
45:32there's a very strong
45:34attention to detail
45:36and grasp on numbers.
45:38It's necessary to be
45:40there.
45:41You've slipped a little bit there.
45:43Sure.
45:44So for that reason,
45:45I'm out.
45:45But thank you
45:46for a lovely pitch.
45:49Your designs are
45:50very good.
45:51But I don't have a trust
45:54in the whole pitch.
45:56Like I was playing,
45:57I said something,
45:59I corrected something,
46:00I corrected something,
46:00I corrected something.
46:01I corrected something.
46:02I'm out for now.
46:04Thank you very much.
46:05Thank you very much.
46:06Thank you very much.
46:07Marketing is solid.
46:08And I think that will
46:10attract the consumers
46:11quickly,
46:12especially agencies
46:13and millennials.
46:14But what happens
46:16that you send a product
46:18to a customer?
46:19to a customer.
46:20But if your product
46:21is good,
46:22then the customer
46:23will come back and forth.
46:24It will become a brand.
46:26I have a problem here.
46:27Your marketing is good,
46:28your product is good,
46:29but after buying the product,
46:30the customer will come back
46:31again.
46:32Because I don't trust
46:33in your product.
46:35You lost me on the product,
46:36so unfortunately
46:37I'm out.
46:39Hi guys,
46:40three sharks out.
46:41Ritesh.
46:42When we started listening
46:43to your pitch,
46:44there was a lot of excitement
46:45because you identified
46:46the problem statement
46:47correctly.
46:48But there is a patch
46:49of an upgrade to that
46:50problem statement.
46:51You have to own your business.
46:53You have to own your identity.
46:54Absolutely.
46:55Like in our business,
46:56people say,
46:57is your company
46:58domestic in India
46:59or global?
47:00I myself say
47:01that our global business
47:02is 70% of our revenue
47:04from India.
47:05Now there are
47:06benefits and challenges.
47:07In that way,
47:09when you ask
47:10if you are lab grown
47:11or not,
47:12you have to say
47:13that I will do both
47:14which is technically
47:15true.
47:16But until we
47:18don't own our identity
47:19100% on our
47:20sleeve,
47:21I will find
47:22struggle
47:23in becoming partners
47:24from that current.
47:27Guys,
47:28this industry
47:29is very exciting.
47:31And the growth
47:32is just tremendous.
47:33US numbers
47:34we all know.
47:3540-50%
47:36by volume
47:37in diamonds
47:38are now lab
47:39grown diamonds.
47:40So,
47:41I always see
47:42that I invest in
47:432-3-4 companies
47:44because it's very
47:45hard to tell
47:46who exactly
47:47will win.
47:48And this is not
47:49a winner-takes-all.
47:50Multiple people
47:51can win.
47:52So, I'm very excited.
47:53I am very excited
47:54about you guys.
47:55But for me,
47:56truth and transparency
47:57are critical in founders.
47:58So, if I give
47:59two diamonds
48:00then I say
48:01it's coming.
48:02But you're not
48:03living up to your name.
48:04And I think
48:05the fundamental
48:06issue
48:07is to move
48:08from a sales mindset
48:09to a builder's mindset.
48:11Sure.
48:12When we live
48:13in sales mindset
48:14we say
48:15if you want this
48:16customer,
48:17you can sell it.
48:18That's why
48:19the WhatsApp stuff,
48:20that's why
48:21selling non-lab prone.
48:22Right?
48:23That's why
48:24you're doing
48:25all these things.
48:26But a builder's mindset
48:27is how do I win the race?
48:28And out execute
48:29everybody
48:30on that position.
48:31That's why
48:32you haven't found it.
48:33You're still looking for it.
48:34So, I think you may not
48:35have found PMF.
48:36For all those reasons,
48:37I'm out.
48:42Our way to tell
48:43maybe
48:44could have been better.
48:45I think
48:46trust
48:48has been lost.
48:49They didn't trust
48:50what we were saying.
48:51It's just a way
48:52how you...
48:53But learning here
48:54is for us to learn
48:55story telling
48:56and numbers
48:57and numbers
48:58and numbers
48:59hopefully bounce back
49:00in a much stronger way.
49:07Friends,
49:08you're very happy
49:09in the make-your-moment zone.
49:10We'll talk about
49:11how you can be
49:12authentic,
49:13authentic
49:14and yourself.
49:15My name is Arushi Ji.
49:16I'm Emery's founder.
49:17We'll talk about
49:18which moments were in
49:19their journey
49:20and which moments were in
49:21the tank.
49:22Congratulations, ma'am.
49:23How are you?
49:25I'm a brother too.
49:26I'm a brother.
49:27I want to know
49:28that you're a solo founder.
49:29In your brand journey,
49:30there will be a lot of
49:31highs and lows.
49:32Which highlight
49:33is your defining moment
49:34that you thought
49:35I have made it?
49:36So I think
49:37when our first store
49:38started,
49:39and it was profitable
49:40from the first month,
49:41I think that was
49:42my defining moment.
49:43When I thought
49:44that customers
49:45like our product
49:46they love us
49:47and now
49:48this journey will go.
49:49In the inside,
49:50your personality
49:51and your business
49:52also liked
49:53too.
49:54I'd like to know
49:55how you're authentic
49:56in your business.
49:57How do you try
49:58that your brand
49:59will stand out
50:00from the other brands?
50:01I think my biggest
50:02fund is that
50:03you'll see more data.
50:04What's happening?
50:05What's happening?
50:06What's happening?
50:07What's happening?
50:08What's happening?
50:09What's happening?
50:10What's happening?
50:11What's happening?
50:12What's happening?
50:13What's happening?
50:14I think that's my secret.
50:15We celebrate every moment.
50:17So I'd like to capture
50:18this moment
50:19in my OPPO Reno 15
50:20in which
50:21200 Megapixel camera
50:22and AI portrait glow
50:23are more than their heroes.
50:25We will shine today.
50:26Are you ready, ma'am?
50:27Yes, absolutely.
50:28Let's go.
50:33Look,
50:34in life,
50:35highs and lows
50:36but in Shark Tank India
50:37there are highs
50:38and highs.
50:39Sometimes high valuation,
50:40sometimes high drama.
50:41These highlights
50:42are the smartest way
50:43to show me
50:44Canva.
50:45In Canva,
50:46I've added all the action
50:47in Canva's video editor
50:48I've added all the action.
50:49The rest of the work
50:50I've done Canva AI.
50:51Let's see.
50:58The near-space aerial vehicles
50:59will be protected
51:00from Kalam Labs
51:01from near-space aerial vehicles
51:02from the country
51:03not from the earth
51:04but from the earth.
51:05We have to create
51:06a big company from Lockheed Martin.
51:08I love it.
51:09It's a great vision.
51:10In India,
51:11no one can't use food
51:12in India.
51:13That's right.
51:14That's why
51:15we've made
51:16Goat Life.
51:17High-protein oats
51:18which are only
51:19in 30 seconds.
51:20This is a complete meal.
51:21I think you know
51:22your stuff well.
51:23I think you know
51:24Gen Z's well.
51:25You're not better.
51:26You're wide better.
51:27LUPI is a modern
51:28design-first
51:29baby gear brand.
51:30Our strollers
51:31fold in a single flick.
51:33MV,
51:34which offers
51:3518-carat
51:36and 14-carat
51:37designs.
51:38You're the most
51:39innovative
51:40ring specialist.
51:41diamonding
51:42probably not
51:43in the market.
51:44This is a fully
51:45automatic
51:46technology
51:47which works
51:48with our patented
51:49fog phonics technology.
51:50Easy.
51:51$7.5,000,000
51:52by paying
51:53these shawkin
51:54and ameers.
51:55How will it
51:56come again?
51:57You don't burn
51:58much.
51:59How much money?
52:00It's all about
52:01your travel expenses
52:02and stuff like that.
52:03Really?
52:04$4,000,000.
52:05I don't know
52:06what is wrong.
52:07Your pitch
52:08probably went wrong
52:09or you're going
52:10wrong.
52:11Whatever you're doing
52:12you're doing
52:13fine.
52:16Isn't that super cool?
52:17Designing
52:18is now
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