Invogue Shark Tank India Episode Review
Invogue appeared on Shark Tank India Season 5, Episode 22, with 25-year-old founders Maadhav Saxena (entrepreneur since age 12) and Ragini Saxena (dating since school) from Delhi seeking ₹50 lakh for 2% equity (₹40 Crore valuation) and successfully closed a deal for ₹2 Crore for 15% equity (₹13.33 Crore valuation) with Shark Aman Gupta after most Sharks opted out.
The New Delhi-based D2C innerwear/shapewear brand launched 2023 offers “fashion-first” empowering foundational garments with Invogue Intense (high compression) and Invogue Essentials (daily wear) lines featuring breathable skin-friendly fabrics, tummy control, seamless fit, durability maintaining shape/color after washes, and health-conscious design preventing blood circulation issues, growing to ₹5 Crore+ revenue with 1,427 monthly organic visitors and Bollywood actress Malaika Arora as brand ambassador. Sharks reacted critically—Namita criticized product finishing/finances, Kanika/Vineeta found Malaika “unrelatable” ambassador for shapewear, Anupam expressed concern over low Amazon ratings (3.6-3.8) and slow growth, though Aman appreciated founders’ young hustle despite operational mistakes.
Operating in Indian lingerie market valued at $5.06 billion (2024) projected to reach $9.57 billion by 2030 (11.2% CAGR) with shapewear as fastest-growing sub-segment (24.3% CAGR D2C e-commerce) within $190 billion apparel market by FY30 and $53.13 billion women’s segment, Invogue targets contemporary women (22-45) in Tier 1/2 cities—working professionals, brides-to-be, fitness enthusiasts viewing shapewear as “empowerment tool”—within $591 million online lingerie market amid consumer “rotational shift” spending more on fashion/functional innerwear than food driven by social media and urban lifestyles.
Website Information
- Website:- Invogue
- Build on Shopify
- Poor SEO Performance, SEO Improvement Needed.
- ORGANIC TRAFFIC: 1427 visitors per month
The Founders of Invogue
- Invogue was founded by 25-year-old entrepreneurs Maadhav Saxena and Ragini Saxena from Delhi.
- The duo, who have been dating since their school days, bring a youthful energy to the brand.
- Notably, Madhav has been involved in entrepreneurship since the age of 12.
- Their journey with this specific brand began in 2023, positioning them as young disruptors in the apparel industry.
Invogue Brand Overview
- Invogue is a New Delhi-based direct-to-consumer (D2C) brand specializing in innerwear and shapewear.
- The brand adopts a “fashion-first” approach, focusing on empowering women through high-quality foundational garments.
- Their extensive product range includes body shapers, bodysuits, mid-thigh shapers, and lingerie, all designed to enhance natural curves while catering to diverse body types.
Invogue Shark Tank India Appearance & Ask
- During their appearance on Shark Tank India, the founders of Invogue initially sought an investment of Rs 50 lakhs for 2% equity, which placed their self-valuation at Rs 40 crores.
- They highlighted their rapid entry into the market and revealed that Bollywood actress Malaika Arora serves as their brand ambassador to boost visibility.
Season and Episode Air Date
- Season: 05
- Episode: 22
- Episode Air Date: Tuesday, 03 February, 2026
Invogue Product Overview
- The Invogue product line is built on the promise of being seamless, lightweight, and supportive.
- The collection features two primary lines: the Invogue Intense line for high compression and the Invogue Essentials range for daily wear.
- The products are designed to be worn under various outfits, from traditional sarees to Western gowns, ensuring a sophisticated appearance without impeding movement.
Invogue Investor Reactions
- Reactions to Invogue were mixed among the Sharks.
- Namita Thapar criticized the product finishing and finances, while Kanika Tekriwal and Vineeta Singh felt that Malaika Arora was an “unrelatable” ambassador for shapewear.
- Anupam Mittal expressed concern over low Amazon ratings (3.6–3.8) and slow growth.
- However, Aman Gupta appreciated the founders’ hustle at a young age, despite noting their various operational mistakes.
Invogue Customer Engagement Philosophy
- The Invogue philosophy centers on making women feel unique, stylish, and empowered.
- By prioritizing online accessibility and secure payments, they aim to make purchasing shapewear a simple, stress-free experience.
- They believe in building confidence through products that provide a “perfect fit,” ensuring that every woman feels comfortable in her own skin.
Invogue Product Highlights
- Breathability: Invogue uses skin-friendly, breathable fabrics that prevent irritation even after long hours.
- Durability: The material maintains its shape and color even after multiple washes, offering value for money.
- Health Conscious: The design ensures that blood circulation is not affected, making it safe for prolonged use.
- Functionality: Key features include Tummy Control and a Seamless Fit that enhances the body’s natural shape.
Invogue Future Vision
- The future vision for Invogue Fashion is to become a reliable wardrobe staple for the contemporary woman.
- By leveraging the Shark Tank India investment, the brand aims to accelerate its D2C growth, expand its reach, and continue evolving its product line to meet the needs of every occasion, from daily office wear to special events.
Invogue Deal Finalized or Not
- Yes, a deal was finalized for Invogue.
- While most Sharks opted out, Aman Gupta showed interest in the founders’ potential.
- After a series of counter-offers regarding equity and capital, the founders eventually locked a deal with Aman for Rs 2 crores in exchange for 15% equity.
| Category | Details |
|---|---|
| Website | Invogue (Built on Shopify) |
| SEO Performance | Poor SEO performance; strong improvement needed |
| Organic Traffic | ~1,427 visitors/month |
| Founders | Maadhav Saxena & Ragini Saxena (25 years old, Delhi-based) |
| Founder Background | Dating since school; Madhav has been an entrepreneur since age 12 |
| Brand Started | 2023 |
| Business Model | D2C (Direct-to-Consumer) |
| Category | Innerwear & Shapewear |
| Brand Positioning | Fashion-first, confidence-driven shapewear for women |
| Core Products | Body shapers, bodysuits, mid-thigh shapers, lingerie |
| Product Lines | Invogue Intense (High Compression), Invogue Essentials (Daily Wear) |
| Use Cases | Sarees, gowns, ethnic wear, Western outfits |
| Key Product Features | Seamless fit, lightweight, breathable, tummy control |
| Fabric Quality | Skin-friendly, breathable, durable, color-retentive |
| Health Aspect | Does not restrict blood circulation; safe for long wear |
| Customer Philosophy | Empower women through comfort, confidence & perfect fit |
| Shark Tank Ask | ₹50 Lakhs for 2% equity |
| Implied Valuation | ₹40 Crores |
| Brand Ambassador | Malaika Arora |
| Shark Reactions – Negative | Namita: poor finishing & finances; Vineeta & Kanika: ambassador unrelatable; Anupam: low Amazon ratings (3.6–3.8) & slow growth |
| Shark Reactions – Positive | Aman Gupta liked founders’ hustle despite mistakes |
| Amazon Ratings | 3.6 – 3.8 |
| Final Deal Status | ✅ Deal Finalized |
| Final Deal Details | ₹2 Crores for 15% equity |
| Investor | Aman Gupta |
| Indian Market Size (Lingerie) | $5.06B (2024) → $9.57B by 2030 |
| Market CAGR | 11.2% |
| Shapewear Growth | Fastest-growing segment; D2C CAGR ~24.3% |
| TAM (India Apparel) | ₹16 Lakh Crore (~$190B) by FY30 |
| SAM | Women’s apparel: $53.13B |
| SOM | $591M online lingerie (premium shapewear niche) |
| Target Audience | Women aged 22–45 |
| Cities Focus | Tier-1 & Tier-2 (Delhi NCR, Mumbai, Bangalore, etc.) |
| Audience Type | Working professionals, brides-to-be, fitness enthusiasts |
| Marketing Gap Identified | Over-reliance on aspirational celebrity branding |
| Recommended Influencer Strategy | Mix Malaika Arora with size-inclusive, real-life creators |
| Content Strategy | Styling reels, educational content, outfit-based demos |
| UGC Campaign Idea | #InvogueConfidence |
| SEO Strategy | Target keywords like “best shapewear for sarees”, “tummy tucker India” |
| Performance Marketing | Meta Ads, Amazon Ads with problem-solution creatives |
| Social Commerce | Instagram Shop, Snapchat filters for Gen Z |
| Distribution – D2C | Shopify store with AI size finder |
| Marketplace Strategy | Amazon, Nykaa Fashion, Myntra |
| Offline Expansion | Experience centers / shop-in-shop formats |
| Key Advantages | Shapewear-only focus, Aman Gupta mentorship, 22% historical EBITDA |
| Key Challenges | High burn rate (10–12%), low ratings, China manufacturing |
| Revenue Track Record | ₹5 Cr+ |
| Return Rate Mitigation | Strict size verification pop-ups |
| Quality Improvement Plan | Partial supply chain localization |
| Future Roadmap – Year 1 | Fix SEO, improve ratings to 4.2+, stabilize EBITDA |
| Future Roadmap – Year 2 | Launch maternity & post-surgical shapewear |
| Future Roadmap – Year 3 | Middle East (UAE) expansion |
| Valuation Goal | ₹100 Cr+ (3–4× revenue multiple) |
Invogue Shark Tank India Business Plan
1. Invogue Business Potential in India
The Indian lingerie and shapewear market is undergoing a massive transformation.
- Market Growth: The Indian lingerie market is valued at approximately $5.06 billion (2024) and is projected to nearly double to $9.57 billion by 2030, growing at a CAGR of 11.2%.
- Segment Opportunity: Shapewear is the fastest-growing sub-segment within intimate wear, driven by a 24.3% CAGR in the D2C e-commerce sector.
- Consumer Shift: There is a notable “rotational shift” where consumers are spending more on fashion and functional innerwear than food, influenced heavily by social media and urban working lifestyles.
2. Invogue Total Addressable Market (TAM)
- TAM (Total Addressable Market): The overall Indian apparel market is expected to reach ₹16 lakh crore ($190 billion) by FY30.
- SAM (Serviceable Addressable Market): The women’s apparel segment leads at $53.13 billion, with the “Organized Branded Lingerie” market serving as a core target.
- SOM (Serviceable Obtainable Market): Invogue Fashion targets the $591 million online lingerie market, specifically focusing on the premium, solution-oriented shapewear niche.
3. Invogue Ideal Target Audience and Demographics
Invogue Fashion focuses on “Contemporary Women” who prioritize both silhouette and comfort.
- Primary Demographics: Women aged 22–45 living in Tier-1 and Tier-2 cities (Metros like Delhi NCR, Mumbai, Bangalore).
- Psychographics: Working professionals, brides-to-be, and fitness enthusiasts who view shapewear as an “empowerment tool” rather than just a garment.
- Occasion-Based Users: Women seeking specialized wear for sarees, gowns, and ethnic outfits where a seamless look is mandatory.
4. Invogue Marketing & Content Strategy
To overcome the “unrelatability” feedback from the Sharks, Invogue Fashion must diversify its narrative.
- Celebrity & Influencer Mix: Maintain Malaika Arora for “aspirational glamour” but balance it with “Curvy & Real-Life” influencers (size-inclusive models) to showcase daily wearability.
- Educational Content: Create “How-to-Style” reels showing Invogue Fashion under different outfits (Saree vs. Jeans).
- UGC (User Generated Content): Launch a campaign titled “#InvogueConfidence” where real customers share unfiltered reviews to boost the brand’s 3.6–3.8 Amazon rating.
5. Invogue Digital Marketing Strategy
Given the current 1,427 monthly organic visitors, a massive SEO and SEM overhaul is required.
- SEO Optimization: Target high-intent keywords like “best shapewear for sarees,” “tummy tucker India,” and “seamless bodysuits” to move beyond the current poor SEO performance.
- Social Commerce: Leverage Instagram Shop and Snapchat Filters (highly effective for Gen Z) to drive impulse purchases.
- Performance Marketing: Use Meta and Amazon Ads focused on “Problem-Solution” creatives (e.g., “Get the perfect saree silhouette in 30 seconds”).
6. Invogue Distribution Strategy
- D2C Website: Enhance the Shopify store with AI-based “Size Finders” to reduce return rates (a major burn factor).
- Marketplace Dominance: Improve presence on Amazon, Nykaa Fashion, and Myntra through optimized listings and high-quality product photography.
- Omnichannel Trial: Explore “Experience Centers” or shop-in-shop formats in major malls to allow customers to touch the “breathable fabric” before buying.
7. Invogue Advantages & Challenges
| Invogue Fashion Advantages | Invogue Fashion Challenges |
| First Mover Focus: Exclusive focus on shapewear vs. general lingerie. | High Burn Rate: Current 10-12% burn needs immediate correction. |
| Aman Gupta’s Mentorship: Access to boAt’s scaling and marketing playbook. | Low Ratings: The 3.6–3.8 Amazon rating indicates product/fit issues. |
| High EBITDA History: Demonstrated 22% EBITDA in the past, showing profitability potential. | Manufacturing Origin: Shark concerns regarding China-based manufacturing vs. “Made in India.” |
8. Invogue Success Reasons & Mitigation Strategies
- Why it can succeed: The founders are young (25) and agile, operating in a high-margin, high-growth niche with a proven revenue track record of ₹5 Cr+.
- Mitigation for Returns: Implement a “Strict Size Verification” pop-up on the website to ensure the customer orders the right fit, reducing logistics costs.
- Mitigation for Quality: Invest a portion of the ₹2 Crore investment into localizing a part of the supply chain to improve “finishing” and quality control.
9. Invogue Future Roadmap & Valuation Growth
- Phase 1 (Year 1): Fix SEO, improve Amazon ratings to 4.2+, and stabilize EBITDA.
- Phase 2 (Year 2): Launch a “Maternity & Post-Surgical” line under Invogue Fashion to expand the medical-benefit niche.
- Phase 3 (Year 3): International expansion into the Middle East (UAE) where the demand for premium shapewear is high.
- Valuation Target: By doubling revenue to ₹10-12 Cr and maintaining a positive EBITDA, Invogue Fashion can aim for a Series A valuation of ₹100 Cr+ (3-4x Revenue Multiple typical for D2C fashion).
Invogue Shark Tank India Episode Review