What Happened to Avimee Herbal After Shark Tank India?
Siddhant Agarwal, Ambika Agarwal, Radha Krishna Choudhary, Vinita Agarwal & Vibhor Agarwal came to Shark Tank India as a family to pitch their business.
From childhood, Radha Krishna Choudhary was fascinated by Ayurveda. He got a chance to show his talent when he saw his daughter losing her hair post covid time. He wanted to make something using herbal and help his daughter. He’s 86 years old and he showed you can start doing business any time in your life. Age is not the limit.
Who is the Founder of Avimee Herbal?
Radha Krishna Choudhary is the founder of Avimee Herbal.
He researched a lot and created a formula. He made an oil, which started giving fascinating results. They started giving this magical oil to their family members and neighbors. It was only a matter of time before everyone around them was using it. They named the company Avimee Herbal.
Avimee Herbal Before Shark Tank India?
They started the company back in 2021 with only 3 products, but at the moment they have 27 products on their shelves.
Avimee mixes Ayurvedic & modern ingredients and creates hair & skincare products.
How much money did they ask for Avimee Herbal?
They came to Shark Tank India seeking ₹2.8 Crores for 0.5% equity in the company. Which gives the company a valuation of ₹560 Crores.
Roles of the family members.
Siddhant Agarwal takes care of the business side of Avimee. He’s the managing director of the company.
Ambika is Siddhant’s wife and an Instagram influencer. She has a 1 million followers. She does marketing for Avimee.
Equity split of Avimee Herbal
| Vinita Agarwal | 33.3% |
| Vibhor Agarwal | 33.3% |
| Ambika Agarwal | 33.3% |
The marketing spend of Avimee Herbal is zero. The product is so good that it sells on its own.
What are the Annual Sales of Avimee Herbal?
| Fiscal Year | Annual Sales |
| 2021 – 2022 | ₹6.5 Crores |
| 2022 – 2023 | ₹20 Crores Projected |
The sales are coming from their own website. 88% of sales are coming from the brand website, and only 12% are coming from marketplaces. Repeat customers are 32%.
Unit Economics of Avimee Herbal
| Price | ₹550 |
| GST | ₹100 |
| Material Cost | ₹135 |
| Labor Cost | ₹5 |
| Packaging | ₹10 |
| Shipment and overhead charges | ₹95 |
| Profit before Tax | ₹205 |
80% of sales were coming from only 2 products of the company. It was kind of a no-brainer that they didn’t need the rest 25 products.
The sharks were impressed by the product, but they were not impressed with the valuation they were asking.
Which shark gave Avimee Herbal an offer?
Peyush Bansal was out because he thought they already had enough money in their bank account and he couldn’t add any extra value himself.
Namita Thapar was out because she thought they were dealing with too many products whereas they should only be concentrated on top 2 selling products.
Aman Gupta was out because the ₹560 Crores valuation was too much for him to digest.
Amit Jain gave the 1st offer. He offered ₹1 Crore for 2.5% equity. The rest ₹1.8 Crores will be debt at 12% interest. The valuation will be ₹40 Crores.
Anupam Mittal offered ₹70 Lakhs for 2% of the company. The rest will be debt at 15% interest. The valuation will be ₹35 Crores.
| Offer 1 | Offer 2 |
| Amit Jain – ₹1 Crore for 2.5% & ₹1.8 Crores debt at 12% interest | Anupal Mittal – ₹70 Lakhs for 2% & ₹2.1 Crores debt at 15% interest |
They came back with a counteroffer. They offered ₹2.8 Crores for 1.5% equity, but they didn’t want any debt. The company valuation will be ₹186.67 Crores.
| Company Name | Avimee Herbal |
| Founder | Radha Krishna Choudhary |
| Asked Amount | ₹2.8 Crores for 0.5% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹560 Crores |
| Company Website | avimeeherbal.com |
| Company Status | In Business |
What deal did Avimee Herbal get in Shark Tank India?
They didn’t take the offer. No deal happened.
