Two ambitious entrepreneurs, one hailing from Bengaluru and the other from Ghaziabad, took the Shark Tank India stage to present Glow Glossary, a wellness brand centered around matcha. The CEO, Pratishtha, shared that she had spent six years in New York, where she developed a deep appreciation for Japanese tea. However, she let her co-founder, Kavya, take the lead in the pitch, admitting that she was “extremely camera shy.”
Their business, launched just a year ago, aimed high. Kavya stated that they projected revenue of Rs 1.5 crore in their first year with a remarkable 45% profit margin. The duo sought Rs 60 lakh for 4% equity, valuing their company at Rs 15 crore.
But after this promising start, things took a different turn. Namita Thapar’s reaction to her first-ever sip of matcha was far from enthusiastic. She made a face, clearly not enjoying the taste. Kunal Bahl, however, appreciated the quality but was surprised to learn that Pratishtha had never been to Japan. His curiosity led him to ask, how they source the powder. Kavya explained that they imported processed matcha from Japan, where a friend of Pratishtha oversaw operations. Pratishtha added, “She’s like my sister.”
Anupam Mittal was not impressed. His tone sharpened as he remarked, “If you’ve come here to joke, I can also joke around with you. But if you’ve come here to raise serious investment, you have to be serious.” His skepticism deepened when he questioned Pratishtha’s reluctance to speak. He suspected her silence was due to a lack of business knowledge rather than stage fright.
Vineeta Singh acknowledged the strong financials but pointed out the founders’ lack of clarity on scaling up. “This isn’t investable at this stage,” she concluded. Anupam pressed further, asking, what they think about the potential of this business. Kavya confidently responded that they envisioned a Rs 300 crore business. She highlighted their existing high-profile clients, including Fig in Delhi and Soho House in Mumbai. They disclosed that their matcha sold at Rs 23,000 per kilogram.
Despite the product’s potential, Kunal noticed a problem, lack of focus. “While your matcha is actually good, your other products are ordinary,” he observed. Namita agreed, advising them to create a more streamlined product line with matcha as the core element.
One by one, the sharks dropped out. Just as it seemed the conversation was over, Anupam turned to Pratishtha and asked, “Have you had a job before?” She admitted she had never worked for anyone. Anupam nodded knowingly, responding, “I thought so.” She quickly clarified that while she hadn’t held a job, she had run a real estate business in New York.
Anupam’s final words were unexpected. “I’m going to wish you something that I don’t normally wish people. I wish you a lot of struggle. If you really want to build a big business, you have to fail.”
With no deal secured, the founders left the tank, carrying with them lessons that extended beyond funding.