When Parul Gulati from Haryana came to the Shark Tank India, she addressed herself as the Queen of Nish Hair. As I continued watching the episode, I understood why she said that. Because she literally owned everything in that episode.
Parul Gulati is an actress and has worked in multiple TV shows and OTT serials. She was always confident at stage presentations. It was reflected in her pitches.
Her product is hair extension and she was literally wearing it. It’s an online hair extension brand. India has 66 Crores of women, and among them, 60% have hair loss problems. So, there’s no question about the market. The market is quite big.
Nish Hair has a variety of products. Such as hair extensions, hair toppers, frame my face, color strands, etc.
She came asking ₹1 Crore in exchange for 2% of her company. Which gives Nish Hair a valuation of ₹50 Crores.
When the judges asked her about the name of the company, she said it was given by her mother. As her mother used to call her Nishu. So, from Nishu to Nish Hair.
Parul Gulati is an actress and still working on different projects. Judges were really shocked when they found out she was doing 2 things full-time.
Parul thought of this business in 2016, launched the website in 2017, and sales started kicking in much later in 2019.
Before the pandemic hit, she was working on multiple web series. All those web series started airing during the pandemic and it was the perfect time to work on Nish Hair because everyone was home doing nothing, and being online watching products online was the only thing people could do.
Parul Gulati made some bold statements during her pitch. Like the one on Hair Originals.
If you don’t know about Hair Originals, it was a pitch from Season 1.
So, Parul said Hair Originals couldn’t crack D2C even with Peyush Bansal on board. And they spent crazy amounts on marketing, which Parul Gulati doesn’t do. I mean, I understand. She has a big following herself. She can promote the product with her own audience.
|October 2022||₹80 Lakhs|
|September 2022||₹79 Lakhs|
|August 2022||₹64 Lakhs|
|2021 – 2022||₹6.7 Crores|
|2022 – 2023||₹15 Crores|
She makes tons of content on social media. Her presence is noticed in every Nish Hair video.
One thing that sets her apart from the rest of the people is she is very confident when it comes to talking about the product. She makes videos on how to use hair extensions, how to repair hair clippers, how to style hair extensions etc.
Most people don’t do that. But Parul Gulati is very passionate about her product that’s why making content comes naturally to her.
She’s spending ₹8 Lakhs months and bringing ₹80 Lakhs in sales. Her average ticket price is ₹5000. That’s like insane.
Namita and Vineeta both tried Nish Hair products. They were equally impressed, as the products are very good quality.
|Product Name||Making Cost||Selling Price|
|Long Hair Extension||₹350||₹1800|
|Short Hair Extension||₹300||₹1300|
|Scalp Line Topper||₹4000||₹12000|
Amit Jain was the first one to give an offer. He gave the exact same thing Parul asked. He offered ₹1 Crore for 2%.
The 2nd offer came from Vineeta Singh and Aman Gupta. Which was ₹1 Crore for 3% of the company.
|Offer 1||Offer 2|
|Amit Jain – ₹1 Crore for 2%||Vineeta Singh and Aman Gupta – ₹1 Crore for 3%|
Namita Thapar wasn’t interested in this product. She doesn’t have any expertise either. That’s why she was out.
Anupam Mittal is a direct investor in Hair Originals. Which is a direct competitor of Nish Hair. That’s why he was out.
Peyush Bansal is also a direct investor in Hair Originals. Also, he felt that Nish Hair couldn’t grow more than a 100 Crores company as Parul doesn’t want to dilute more than 20% of her company in the near future. She wants to keep 80% of the company to herself. That’s why Peyush was out.
Parul had 2 offers on the table. And she wanted a bit more time from the Shark which Amit Jain said would be able to provide.
So, it was a no-brainer that she would take Amit’s offer as he’s asking for less equity and giving more time. She chose Amit Jain and diluted 2% of her company.
That was really an interesting episode and that’s the fun of Shark Tank. You never know what will happen the next moment.
|Company Name||Nish Hair|
|Asked Amount||₹1 Crore for 2% (50 Crore Valuation)|
|Final Deal||₹1 Crore for 2% (50 Crore Valuation)|
|Current Net Worth||₹50 Crores|
|Company Status||In Business|