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Vineeta Singh accuses Shark Tank India pitchers of manipulating their sales figures, says they’re being duped by their family: ‘Daal mein kuch kaala hai’

Shark Tank India 4: Vineeta Singh refused to believe a couple of sibling entrepreneurs, whose skincare company is doing Rs 20 crore in sales every year.

shark tank india 14Vineeta Singh on the fourth season of Shark Tank India.

A confrontation broke out between Vineeta Singh and a couple of sibling entrepreneurs on the latest episode of Shark Tank India, which returned for a fourth season this week. Vineeta sensed ‘daal mein kuch kaala hai’ in the figures that the pitchers presented to the ‘sharks’, which telling them about their skincare brand Personal Touch. Vineeta was joined on the episode by Aman Gupta, Kunal Bahl, Azhar Iqubal and Ritesh Agarwal. The entrepreneurs, Aditi and Ashish Jawa, asked for Rs 1.2 crore in exchange of 1% equity, valuing their company at Rs 120 crore.

Ashish said that he has no background in the pharmaceutical sector, but launched a pharma company some years ago. The business shut down shortly afterwards. A second business shut down as well. But Personal Touch took off. They increased sales from Rs 1.5 crore to over Rs 20 crore in just a year. They also organised a concert with B Praak, which resulted in Rs 2.7 crore in sales. But after just a little digging, the ‘sharks’ found holes in their stories. Vineeta wasn’t convinced by the authenticity of their social media numbers. The pitchers showed the ‘sharks’ a Reel that accumulated 2 million hits, but had only 700 likes. Azhar said that this isn’t possible, while Vineeta and Aman said that the post has been boosted. The pitchers stressed that it wasn’t.

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Later, Azhar didn’t get a satisfactory response when he asked them what percentage of their sales are organic. “How do you not know attribution analysis of your marketing?” Azhar asked. Kunal was shocked that the pitchers didn’t have this information at the ready. “I’m very disappointed that you don’t know the details,” Aman said, backing out of the deal. Kunal and Azhar backed out as well, while Ritesh offered to give them some tips over a meeting at a later date. Vineeta however, said that the others were being too kind.

“I’m struggling to give you credit,” she said, noting that “daal mein kuch kaala hai.” She pointed out that the cost of their product shouldn’t be as high as it is; they are selling something that costs less than Rs 200 for Rs 2000. She speculated if the pitchers are being taken for a ride by their cousin, who manufactures the products for them. “Cousin aapko loot raha hai,” she said, giving them the benefit of the doubt. But Vineeta also didn’t shy away from implying that the pitchers are fudging numbers. Determined to prove her wrong, they offered to show her their Shopify dashboard. They insisted that they use the ‘drop’ model, and make customers wait for new product launches, which explains the jump in sales on specific days in the month. But Vineeta still wasn’t convinced.

She said, “From what I know, consumers don’t wait for one specific day in three months to shop. I feel they are entering sales themselves, that can either be genuine or they can be fake. They could also be taking orders on calls on launch days. It’s impossible to show 100% increase in sales for an online business.” The pitchers left without striking a deal.

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