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Shark Tank India Season 3: Candid Men vs. Flyrobe - A Showdown of Rental Fashion

In the recent episode of Shark Tank India Season 3, viewers witnessed a thrilling face-off between two rental fashion wear brands, Candid Men and Flyrobe, as they competed for investments from the Sharks. The episode showcased the entrepreneurial spirit of Shweta Poddar and Rishabh Poddar from Candid Men, and Aanchal Saini from Flyrobe, as they pitched their innovative business models to the panel of investors.

 

Candid Men, founded by Shweta and Rishabh Poddar, offers high-end fashion rental services exclusively for men. The company operates on a rental basis, allowing customers to access luxurious clothing items for temporary use before returning them. With stores in Delhi, Hyderabad, and Bangalore, Candid Men provides convenient access to their rental services, offering a wide range of clothing options at varying price points.

 

During their pitch, Shweta and Rishabh sought an investment of Rs 60 lakhs in exchange for a 2% equity stake in their business. They highlighted their unique selling proposition of phasing out clothing units every 1.5 years on average, ensuring freshness and exclusivity for their customers. The Sharks were intrigued by Candid Men's business model and expressed interest in their sales performance, which surpassed Rs 2 crore in the financial year 2022-23.

 

Amit Jain and Vineeta Singh showed interest in Candid Men and made an offer of Rs 60 lakhs for a 5% equity stake in the company. Additionally, they proposed a provision where 2% equity would be clawed back when the business achieves a Rs 2 crore profit this year. Shweta and Rishabh accepted the offer, securing a deal with Vineeta Singh and Amit Jain.

 

On the other hand, Flyrobe, led by Aanchal Saini, offers rental options for both men's and women's clothing, including Western wear, ethnic wear, and various accessories. Despite securing funding of 8 crores and exceeding sales of Rs 2.8 crore, the majority of the Sharks lacked confidence in Flyrobe's business model and opted out of investing.

 

Aman Gupta was the only Shark to make an offer to Aanchal Saini, praising her energy and determination. He offered Rs 50 lakhs for a 5% equity stake in Flyrobe. After negotiations, Aanchal proposed a counteroffer of Rs 50 lakhs for a 3% equity stake, to which Aman revised his offer to 4% equity. Ultimately, the deal was sealed with Aman Gupta for Rs 50 lakhs in exchange for 4% equity in Flyrobe.


 

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