In the latest episode of Shark Tank India season 4, Swati Singh from Mumbai pitched her brand Aseem Shakti, introducing the “Ready-to-Wear Pocket Saree,” a unique innovation that left the Sharks impressed. These sarees are designed to fit the wearer perfectly, eliminating the need for a petticoat. The concept, which includes a built-in lining, allows customers to wear the saree with ease, without the hassle of traditional draping. The saree also features a large pocket, which caught the attention of Vineeta and Namita, who both called it a game changer. They were particularly impressed with how the product blends modern convenience with traditional attire.
Swati’s entrepreneurial journey began in 2018 with a mission to bring sarees into modern spaces like boardrooms and dinner dates. Aseem Shakti has sold over 10,000 sarees, and the brand’s future goal is to expand its reach globally. Swati’s pitch on Shark Tank India sought Rs 50 lakhs for 2.5% equity, valuing her company at Rs 20 crores. To help her present the product, Swati even demonstrated draping a saree in front of the Sharks, receiving applause for the innovative design. She also shared a video showcasing her vision of empowering women to be the primary providers in their homes, not just nurturers, a cause that resonates with the Sharks.
Swati’s story began in an unexpected place. She started as a teacher, teaching spoken English to underprivileged students. However, her passion shifted when she began preparing for the UPSC exams and discovered the concept of Self-Help Groups (SHGs). Inspired, she gathered women from her community, including relatives and neighbors, to explore starting a business. She fondly referred to them as “Pushpa and Gang.” During this time, Swati realized that the women in the group faced financial difficulties. She recalled a tragic incident where one of the women lost her ear during a cosmetic patch test. This event drove Swati to create a safer environment for these women and led her to develop the ready-to-wear saree concept.
The brand made headlines in 2021 when one of its videos went viral. Since then, sales have been steadily growing, with the company’s website accounting for 95% of the sales. They also launched on Myntra in September 2024. Swati shared that between April 2024 and the present, her company made Rs 1.3 crores in revenue. In FY 2023-24, the revenue was Rs 65 lakhs, and for FY 2022-23, it was Rs 22 lakhs. The profit margin stands at a solid 20%. Sarees are priced between Rs 3,100 to Rs 6,000, with the cost per ready-made saree being Rs 720. Swati employs 18 women and partners with an NGO that has 17 women, directly impacting 35 women in total.
Despite the promising numbers, Swati struggled to communicate her vision clearly. She lacked confidence when discussing the company’s numbers, prompting Sharks to emphasize their importance. Namita, in particular, advised her that execution is crucial, and that an entrepreneur must be “investor-ready” with clear figures to scale the business.
Peyush Bansal expressed concern over Swati’s unclear vision, noting that while she started the business to help women, her current goal seemed to be building a Rs 100 crore company. He felt this lack of clarity was a major issue and decided to opt out. Vineeta, however, disagreed, stating that Swati had a clear sense of purpose but needed to focus on delivering more value to the customer. Viraj Bahl also expressed his doubts, pointing out that Swati’s business lacked a solid foundation. He chose to back out as well.
In a dramatic turn, Anupam Mittal stepped in, offering Rs 50 lakhs for 10% equity, valuing the company at Rs 5 crores. He remarked, “I want to treat you as a businesswoman.” Swati, relieved by the offer, accepted the deal. Anupam praised Swati for her honesty and clarity, while also acknowledging that she needed help in marketing and finance. He offered to bring in experts to address these challenges, offering a long-term vision for growth.
To add a bit of humor, the Sharks watched as Anupam tried on the saree, drawing laughs and playful remarks. Namita jokingly exclaimed, “Hey Bhagwan, bas yahi dekhna baki tha!” before complimenting him, saying, “Gorgeous you are looking, Anupam.” Viraj also commended Anupam for being a good sport in the situation. This lighthearted moment added a fun touch to the otherwise intense pitch session.
In the end, Aseem Shakti’s story stands as a testament to resilience and the power of innovative thinking. Swati’s journey from a teacher to an entrepreneur is inspiring, and with Anupam’s backing, her brand now has the potential to grow even further.