A recent episode of Shark Tank India saw a team of entrepreneurs pitch their footwear business to the judges. Despite impressing the sharks with their huge revenue, they couldn’t get the deal they wanted. They described their company, Bacca Bucci, as a Gen-Z focused fast fashion footwear brand, but received criticism for its ‘design language’. The founders tried to convince the sharks that they are indeed a profitable business, but need some guidance to take the venture to new heights.
The founders asked for Rs 2.5 crore for 1% equity in their company, valuing it at Rs 250 crore. As soon as the pitch started, Anupam Mittal questioned the absence of any “style language” in their products, and pointed that none of the shoes on display looked like they belonged to the same brand. He mentioned that companies like Nike and Adidas have the same logo everywhere, and when the Bacca Bucci founders said that every line of product in their company has a separate logo, the sharks did not look impressed.
Deepinder Goyal also questioned the lack of consistency in their branding and gave them a “2 out of 10” for their design language. Goyal pointed out aesthetic errors in the company’s logo and was shocked to find that the founders had no idea about this.
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Aman Gupta, Vineeta Singh and Namita Thapar also made similar observations, and were not impressed by the designs. Namita mentioned that the brand did not have a USP, which made her question why anyone would choose their product over another company’s. When the founders mentioned that their price was the biggest differentiator, the sharks were in agreement that they can’t offer a deal on the basis of this one factor. Even after all the other sharks had opted out of the deal, Anupam took some time to make up his mind, but ultimately backed out.
Shark Tank India streams on Sony LIV.
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