In the premiere episode of Shark Tank India Season 4, entrepreneurs Karan and Advita introduced their luxury concierge service, Indulge, which aims to cater to India’s ultra-high-net-worth individuals. Their venture offers personalised services, including bespoke travel experiences, exclusive shopping, and fine dining arrangements. But what caught the sharks’ attention was their Rs 4,000 Coke delivery to a remote Himalayan village. While the Sharks passed on the opportunity, the pitch ignited widespread discussion about the extravagant demands of India’s elite and the unique business model designed to meet them.
Sharks’ reaction
Karan and Advita’s pitch raised concerns among the judges regarding the ethical and practical aspects of their business model. Anupam Mittal questioned the lack of transparency, asking why clients were not informed about the back-end commissions. In response, the entrepreneurs defended their approach, stating, “Our clients don’t need to know about this.”
The duo did highlight their impressive portfolio of 183 high-profile clients and significant revenue generated through monthly subscriptions and brand partnerships. They sought an investment of Rs 50 lakh for a 1% equity stake in their business. However, despite their compelling pitch, the Sharks decided not to invest.
Coke for Rs 4000: Concerns Over Transparency and Financial Clarity
The entrepreneurs shared an example of the lengths their service would go to, including delivering a can of Diet Coke to a remote Himalayan village for Rs 4,000. This story sparked mixed reactions, with Aman Gupta exclaiming, “Rs 4,000 for a can of Coke?” While the story highlighted their dedication to serving clients, it failed to convince the judges. Despite being a frequent traveler who appeared to be a potential client, Namita Thapar chose not to invest.
The sharks went on to question the transparency and financial clarity of the business. Anupam Mittal pointed out that the numbers didn’t align with the pitch, saying, “Your numbers don’t match the picture you’re presenting.” Aman Gupta and Vineeta Singh also criticized the pitch, describing it as unclear and disjointed.
Peyush Bansal’s Change of Heart
Although Peyush Bansal showed initial interest, he decided to withdraw after learning more about the company’s background. The entrepreneurs disclosed that billionaire investor Nikhil Kamath had previously invested Rs 75 lakh in seed funding but had since exited, which raised concerns for Peyush and prompted him to back out.
Entrepreneurs’ Response
Despite leaving without a deal, Karan and Advita’s pitch made an impact on the sharks. Advita voiced her frustration with the judges’ scrutiny, while Karan remarked, “Maybe it will be a learning experience for them if we succeed.” The tale of the Rs 4,000 Coke continues to spark discussions about the lengths to which luxury services will go to meet their clients’ demands.