What Happened to Elitty After Shark Tank India?

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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,

  1. 22 colored eyeliners
  2. Lip glosses
  3. Nail paints
  4. Makeup kits

Who is the Founder of Elitty?

Pranali Janbandhu & Vailina Tulsani are the founders of Elitty.

Equity split of Elitty

Vailina Tulsani40%
Pranali Janbandhu25%

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.

TimeMoney RaisedValuation
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 margin36%
B2C gross margin75% ~ 80%

Price of Elitty products

Nail paints₹199
Lip gloss₹499

What are the Annual Sales of Elitty?

Fiscal YearAnnual 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 DealNo Deal
SharkNo 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.

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