Quirksmith Shark Tank India Episode Review

Quirksmith Shark Tank India Episode Review

• Brand Overview:
  • Brand Name: Quirksmith
  • Website: Quirksmith
  • Platform: Shopify
  • SEO Success: Contesting on 7000+ keywords, generating 55,000 organic traffic visitors.

• Quirksmith Poetic Jewelry Vision:
  • Vision Statement: Quirksmith envisions individuals expressing emotions, art, and thoughts through their poetic jewelry.
• Founders:
  • Founders: Divya Batra and Pragya Batra.
  • Background: Divya is a NIFT ’04 graduate with a gold medal in jewelry designing. Pragya holds a degree from IIT Delhi and INSEAD, with experience in strategy and operations.
• Shark Tank India Episode:
  • Episode Number: Season 3, Episode 17.
  • Air Date: February 13, 2024.
  • Ask: ₹80 lakhs for 1%.
  • Deal: No deal.
  • Investors: No deal.
• Business Statistics:
  • Market Presence: Reached 3+ lakh individuals in 7 years.
  • Sales Projection:
    • FY 19-20: ₹3.7 crores.
    • FY 20-21: ₹2.5 crores.
    • FY 21-22: ₹5 crores.
    • FY 22-23: Projected ₹6 crores (Net Profit: ₹24 lakhs).
  • Monthly Sales (Jun 2023 – Aug 2023):
    • June: ₹65 lakhs.
    • July: ₹58 lakhs.
    • August: ₹75 lakhs.
  • Website Traffic: 1.2 lakh monthly visitors.
• Business Pitch and Poetry:
  • The founders presented their business pitch on Shark Tank India, introducing their jewelry inspired by poetry.
  • Highlighted a poetic verse to convey their brand essence.
  • Positive feedback from Shark Namita Thappar and Shark Aman Gupta.
• Shark Judges’ Feedback:
  • Niche Market: Considered a niche market, scalability concerns raised.
  • Occasion Wear: Acknowledged the unique selling proposition but emphasized challenges in scaling.
  • Debt and Royalty Deal: Rejected due to misalignment with the brand’s ethos.
• Post-Pitch Statistics:
  • Company Valuation: ₹80 crores.
• Conclusion:
  • Shark Tank Impact: All sharks positively influenced, but no investment made.
  • Business Evaluation: Suggested audience to consider investment cautiously.
  • Womanpreneur Recognition: Sharks Namita Thappar and Vineeta Singh expressed enthusiasm.
• Future Considerations:

• Evolution: Emphasized the brand’s continuous evolution.
• Market Expansion: Potential growth avenues in regular wear.
• Global Brand: Recognition of the brand’s potential on a global scale.

11. Analysis and Invitation:

• Analysis: Highlighted the brand’s evolution, financials, and Shark Tank experience.
• Invitation: Encouraged comments and opinions on whether to invest in Quirksmith.

Brand Overview
Brand Name	Quirksmith
Website	Quirksmith
Platform	Shopify
SEO Success	Contesting on 7000+ keywords, generating 55,000 organic traffic visitors.

Poetic Jewelry Vision
Vision Statement	Quirksmith envisions individuals expressing emotions, art, and thoughts through their poetic jewelry.

Founders
Founders	Divya Batra and Pragya Batra
Background	Divya is a NIFT ’04 graduate with a gold medal in jewelry designing. Pragya holds a degree from IIT Delhi and INSEAD, with experience in strategy and operations.

Shark Tank India Episode
Episode Number	Season 3, Episode 17
Air Date	February 13, 2024
Ask	₹80 lakhs for 1%
Deal	No deal
Investors	No deal

Business Statistics
Market Presence	Reached 3+ lakh individuals in 7 years
Sales Projection
FY 19-20: ₹3.7 crores <br> FY 20-21: ₹2.5 crores <br> FY 21-22: ₹5 crores <br> FY 22-23: Projected ₹6 crores (Net Profit: ₹24 lakhs)
Monthly Sales (Jun 2023 – Aug 2023)
June: ₹65 lakhs <br> July: ₹58 lakhs <br> August: ₹75 lakhs
Website Traffic	1.2 lakh monthly visitors

Business Pitch and Poetry
The founders presented their business pitch on Shark Tank India, introducing their jewelry inspired by poetry. <br> Highlighted a poetic verse to convey their brand essence. <br> Positive feedback from Shark Namita Thappar and Shark Aman Gupta.

Shark Judges’ Feedback
Niche Market: Considered a niche market, scalability concerns raised. <br> Occasion Wear: Acknowledged the unique selling proposition but emphasized challenges in scaling. <br> Debt and Royalty Deal: Rejected due to misalignment with the brand’s ethos.

Post-Pitch Statistics
Company Valuation	₹80 crores

Conclusion
Shark Tank Impact	All sharks positively influenced, but no investment made. <br> Business Evaluation

Future Considerations
Evolution	Emphasized the brand’s continuous evolution. <br> Market Expansion

Analysis and Invitation
Analysis	Highlighted the brand’s evolution, financials, and Shark Tank experience. <br> Invitation