‘Can’t say Vineeta Singh was threatened by me,’ says Ruby’s Cosmetics’ Rubeina Karachiwalla after Shark Tank India experience: ‘Knew there would be friction’

Entrepreneur Rubeina Karachiwalla, founder of the organic beauty brand Ruby’s Organics, recently pitched her company on Shark Tank India Season 4. Given that one of the sharks, Vineeta Singh, is the CEO and co-founder of Sugar Cosmetics, a competing beauty brand, there were expectations of a potential conflict of interest. However, in a recent interaction with ETimes, Rubeina spoke about her experience on the show, particularly with Vineeta, and shared surprising insights.

While many assumed that Vineeta would refrain from investing in Ruby’s Organics, Rubeina revealed that despite being a competitor, Vineeta supported her throughout the pitch. She acknowledged that while she was well-prepared for her presentation, Vineeta’s reaction was beyond her control. However, she was pleasantly surprised by Vineeta’s approach. “I really can’t say that she was threatened by me or I was uncomfortable. Within the first two minutes she made me so comfortable. I was lucky enough to be on her good side.” She also revealed that Vineeta actively helped her secure a deal with Kunal Bahl, another shark on the panel.

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Rubeina further clarified that during her pitch, she was careful not to criticise or demonise other beauty brands to avoid unnecessary friction with Vineeta. Instead, she focused on highlighting the unique ingredients used in her products., “In the pitch, I had clearly said that I am not here to demonise any chemicals or other brands. I knew there would be friction.”

 

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During the investment negotiation in the Tank, Kunal Bahl made an offer to Rubeina. She initially sought Rs 1 crore for a 2.5 percent equity stake, valuing her company at Rs 40 crore. However, Kunal countered with Rs 1 crore for 10 percent equity, a Rs 10 crore valuation. Refusing to settle for less, Rubeina boldly negotiated, and they eventually reached an agreement at Rs 12.5 crore for an 8 percent stake.