What Happened to Magic of Memories After Shark Tank India?
What is Magic of Memories?
Magic of Memories is not your typical jewellery brand. How often you wanted to preserve something but you couldn’t? Have you ever wanted jewellery made out of someone’s DNA? Well, Magic of Memories made it possible.
Who is the Founder of Magic of Memories?
Preety Maggo is the founder of Magic of Memories. She’s from Delhi. She started Magic of Memories back in 2019. To date, she’s fulfilled 500+ orders.
How much money did she ask for Magic of Memories?
She wants to make DNA jewellery more popular in India. That’s why she came to Shark Tank India seeking ₹25 Lakhs in exchange for 5% equity in the company. Which gives the company a valuation of ₹5 Crores.
Magic of Memories Before Shark Tank India?
Preety Maggo is an optometrist. She used to work in optical shops and eye hospitals. She left her job in 2017 after giving birth to her daughter. In Germany, she saw the concept of DNA jewellery. She wanted to have her own DNA jewellery but it was getting very expensive. That’s when she decided to make DNA jewellery in India.
She did some courses in Australia and Germany. Finally, she started the business in 2019.
She came to Shark Tank India wearing her own breast milk jewellery.
Now with the help of Magic of Memories, you can have jewellery made with hair, breast milk, umbilical cord, tooth, and whatnot. This preserves your DNA and turns it into a custom art form. They make jewellery from pet DNA. They make jewellery from blood. They make jewellery from the deceased person also.
How to get Magic of Memories?
Magic of Memories has its own website. People can approach them through Facebook and Instagram.
Magic of Memories has 70k followers on Instagram and it drives the most sales for the company. She posts regularly and some videos have gone viral.
There are multiple videos on the Instagram page that show how she makes jewellery. She also has a secret formula which she uses to solidify breast milk.
When brands like this exist, people tend to make custom requests. 90% of customers of Magic of Memories are mothers.
What are the Annual Sales of Magic of Memories?
| Fiscal Year | Sales |
| 2019 – 2020 | ₹8 Lakhs |
| 2020 – 2021 | ₹17 Lakhs |
| 2021 – 2022 | ₹27 Lakhs |
| 2022 – 2023 (Till Date) | ₹24 Lakhs |
Which shark gave Magic of Memories an offer?
Peyush Bansal thought the business could be simplified. He wanted Preety to make jewellery with only hair. Because people can easily accept jewellery made of hair. But when it comes to breast milk, it’s really difficult to convert a customer.
Aman Gupta was out because he couldn’t relate to the business. He didn’t know how to scale this business.
Namita Thapar was out because she thought this business couldn’t be scaled.
Peyush Bansal wanted Preety to simplify the business. He was out because the business was too small to invest money in.
Vineeta Singh is out because she thought the business was not scalable.
Anupam Mittal thought Preety was an artist. But at the same time, he stated that he didn’t have any interest in that particular business. That’s why he was out.
| Company Name | Magic of Memories |
| Founder | Preety Maggo |
| Founder Expertise | Optometrist |
| Asked Amount | ₹25 Lakhs for 5% |
| Average Order Value | ₹11000 |
| Gross Margin | 55% |
| Net Profit | 50% |
| Final Deal | No Deal |
| Current Net Worth | ₹5 Crores |
| Company Website | www.themagicofmemories.com |
| Company Status | In Business |
What deal did Magic of Memories get in Shark Tank India?
Magic of Memories couldn’t score a deal with the sharks. But it’s a new category and a new category takes time to grow. Wishing Preety all the best for her unique DNA jewellery business.
