The latest episode of Shark Tank India 4 delivered high drama and groundbreaking deals, with Peyush Bansal making history by offering the largest cheque ever written on the show. The spotlight was on NOOE, a premium lifestyle and accessory brand co-founded by Piyush Suri and Niteeka Pandey. Known for its minimalist designs and Japanese-Scandinavian-inspired desk sets, the brand has earned global acclaim, including the prestigious Red Dot Design Award, and is sold in nine countries.
Vineeta Singh, intrigued by the brand’s unique name, inquired about its meaning. Piyush shared that NOOE is inspired by the palindrome “never odd or even,” symbolizing symmetry and universal appeal. The brand’s premium products are retailed at luxury stores like Harrods in London, with international prices set at eight to ten times higher than the Indian market rates.
As the founders revealed their journey, they admitted to facing significant challenges despite a fast-moving inventory. Piyush explained that the business was struggling financially, with a debt of ₹1.2 crore and operating at a cash loss margin. This raised concerns among the sharks, particularly Aman Gupta, who questioned how the brand intended to sustain operations with no funds left.
Anupam Mittal and Kunal Shah debated why the founders sought funding at a valuation as low as ₹50 lakhs, highlighting the disconnect between their premium positioning and their financial reality. Niteeka acknowledged the clutter within the brand’s operations and elaborated on what needed to change for the business to thrive.
Kunal praised the brand’s potential but emphasized the need to limit product offerings and focus on profitability. He suggested increasing prices to preserve the brand’s premium image and improve margins. Despite appreciating the concept, Kunal decided to step back from the deal. Vineeta also opted out, expressing doubts about the Indian market’s readiness for such high-priced products.
Peyush, however, pointed out a critical flaw. He stated that while the designs were excellent, the founders had yet to transform their products into a recognizable brand. Offering ₹3 crores, he assured them that he would clear their debts and bring in other investors to rebuild the business. Peyush asked for time to finalize a deal that justified such a substantial investment.
Meanwhile, Aman commended the designs but identified an issue with ownership disputes over the moulds. He presented an offer of ₹3 crores for 50% equity, proposing the remaining equity be split between the founders and allocated to an ESOP pool. However, Peyush countered with ₹3 crores for 51%, securing a controlling stake.
Piyush hesitated at the idea of giving up control. Peyush explained that his involvement and the additional investments required to restructure the business would ultimately benefit the founders financially. Aman revised his offer to ₹2 crores for 30% equity, hoping to strike a balance.
The negotiations intensified as Piyush proposed a counteroffer of ₹5 crores for 20% equity. Aman refused, citing the high valuation, and exited the deal in frustration. He expressed disappointment, saying he had been willing to increase the valuation, but the founders’ indecision had wasted an opportunity.
Peyush seized the moment to explain the value of his controlling stake offer, assuring the founders that it would enable them to achieve long-term success. After some deliberation, Piyush and Niteeka agreed to Peyush’s terms, finalizing the deal at ₹5 crores for 51%.
The episode concluded with Peyush calling it his largest cheque ever, marking a monumental moment for both the brand and the show. For NOOE, this deal could pave the way for a transformative journey toward global recognition and sustainability.