What Happened to Elitty After Shark Tank India?
What is Elitty?
Elitty is a teenage makeup brand. Teenagers can own & flaunt this makeup brand because this is targeted only to them.
Elitty makes products with skin-friendly materials. It uses witch hazel & avocado oil.
Some of the popular products are,
- 22 colored eyeliners
- Lip glosses
- Nail paints
- Makeup kits
Who is the Founder of Elitty?
Pranali Janbandhu & Vailina Tulsani are the founders of Elitty.
Equity split of Elitty
| Vailina Tulsani | 40% |
| Pranali Janbandhu | 25% |
| Investors | 35% |
Elitty Before Shark Tank India?
They started the company in August 2022. Elitty has processed more than 30,000 orders.
Currently, 80% of their sales come from eyeliners. The top-selling eyeliner shades are white, yellow, and lilac.
They do content marketing on Instagram. Teenagers make graphic eye looks using eyeliners. Elitty has 21k followers on Instagram.
How much money did they ask for on the pitch?
They came to Shark Tank India seeking ₹1 Crore for 4% equity in the company Elitty. Which gives the company a valuation of ₹25 Crores.
How much money did they raise for Elitty?
Elitty has raised ₹5.3 Crores in 2 rounds.
| Time | Money Raised | Valuation |
| August 2021 | ₹2.1 Crores | ₹10 Crores |
| March 2023 | ₹3.2 Crores | ₹23.2 Crores |
How to get Elitty?
A teenager can get Elitty products from their main website. They are also available in different marketplaces.
The market size of the teenage makeup market
The teenage makeup market ranges from ₹2000 ~ ₹2500 Crores in India.
Unit Economics of Elitty
It’s not a profitable company. But Elitty is going towards contribution margin 1 positive state.
But what is contribution margin 1? Well, let’s find out.
Contribution margin 1 = Sales – Making cost – payment gateway cost – Logistics cost
Contribution margin 2 = Contribution margin 1 – Performance marketing cost
Contribution margin 3 = Contribution margin 2 – Branding cost
| B2B gross margin | 36% |
| B2C gross margin | 75% ~ 80% |
Price of Elitty products
| Category | Price |
| Eyeliners | ₹499 |
| Nail paints | ₹199 |
| Sunscreen | ₹799 |
| Lip gloss | ₹499 |
What are the Annual Sales of Elitty?
| Fiscal Year | Annual Sales |
| 2022 – 2023 | ₹49 Lakhs |
| 2023 – 2024 | ₹2 Crores Projected |
Which shark gave Elitty an offer?
Namita Thapar was out. She couldn’t justify the valuation based on a loss-making company.
Vineeta Singh was out. She thought the price could be reduced.
Anupam Mittal offered them ₹1 Crore for 15%. He valued the company at ₹6.67 Crores.
Ritesh Agarwal was out.
Aman Gupta was out. He thought the company didn’t have enough money in the bank to solidify the brand like Aman wanted.
| Offer 1 |
| Anupam Mittal – ₹1 Crore for 15% |
The founders politely ignored the offer.
What deal did Elitty get in Shark Tank India?
Elitty didn’t get any deal in Shark Tank India.
| Company Name | Elitty |
| Founders | Pranali Janbandhu & Vailina Tulsani |
| Asked Amount | ₹1 Crore for 4% |
| Final Deal | No Deal |
| Shark | No Shark |
| Company Net Worth | ₹25 Crores |
| Company Website | elittybeauty.com |
| Company Status | In Business |
What is the net worth of Elitty?
The net worth of Elitty is ₹25 Crores.
Is Elitty still in Business?
Yes, Elitty is still doing business in the teenage makeup industry.
