Founded in India, Sayonara made its Shark Tank India Season 2-episode 18 appearance. The creator revealed that this is a ground-breaking and creative invention meant to improve the quality of life for Indian women. The company valuing ₹10 Crores requested an investment of ₹1 Crore in return for 10% equity.
Sayonara aims to re-innovate the petticoat used in Indian society for 500 years. The originator said that since no one worked to improve this from its inception, the women have been battling with this for millennia.
Sayonara petticoat has two key advantages: first, the customer would not have to hold their clothes like the conventional products; second, they would have free hands all the time which they could use to hang on to objects in washrooms or operate their phones.
Company Name: Sayonara
Founder: Sahil Shaha
Product: Petticoat
Highlights
1. Sayonara is particularly focused in petticoats made for comfort, particularly for saree wearers.
2. Modern Fit & Design: More fashionable and suited for better fit than conventional petticoats, these are
3. Premium Fabric & Elastic Band: The brand emphasises on premium materials and a waistline with ease of mobility.
4. Unique Market Positioning seeks to modernise a neglected segment of Indian cultural apparel.
5. Shark Reactions: Though it did not get an investment, the proposal captivated the sharks.
Pitch Details
Ask: ₹1 crores for 10% equity, valuing the company at ₹10 crores.
Deal: After negotiations, deal couldn’t happen
Investors: NO DEAL
Conclusion: Emphasising comfort and sophisticated style, the Sayonara pitch on Shark Tank India Season 2 took a fresh approach on petticoats. Although the concept sought to address a serious issue in ethnic wear, the sharks thought it funny and were dubious about its scalability and market appeal. The brand finally got no funding. Still, the proposal focused on the creative possibilities in conventional clothing categories.
Key Takeaways from the Episode
1. Valuation Matters: Entrepreneurs should align their valuations with investor expectations to increase chances of securing a deal.
2. Flexible Financing: Be open to alternative deals (e.g., debt and equity combinations) as investors might prefer non-equity-based agreements.
3. Market Potential: Clearly communicate your business’s market potential, especially if it caters to niche needs.
4. Negotiation Skills: Be prepared to adapt and negotiate terms that might differ from your initial ask.
