Shark Tank India 3: TURMS’ Breaks a Rs. 1.2 Crore Agreement With CEO Azhar of Inshorts
Shark Tank India 3
Shark Tank India 3: In season three of the business reality show “Shark Tank India,” the smart clothing brand “TURMS,” which makes clothes with anti-stain, anti-bacterial, anti-fungal, and anti-odour qualities, closed a Rs 1.2 crore deal.
The standout feature of TURMS’ pitch was its unique assortment, which includes, among other things, seven-day no-smell socks, fearless white cotton shirts, AC cool tech T-shirts, and 30-day no-wash jeans.
Shark Tank India 3: Customers of the brand include Indian cricketer MS Dhoni, who lends star power to the field.
A former client of TURMS, Surendra Singh Rajpurohit made a risky move in 2022 when he bought the business from its six co-founders.
Shark Tank India 3: He was addressed by Inshorts’ co-founder and CEO, Azhar Iqubal, who stated, “Your products are very interesting.”
Surendra went on to say that the clothing firm has prospered under his direction, selling an astounding four lakh articles of clot
He claimed to have worked in the automobile sector for ten years in the Middle East.
The testing of Surendra’s goods was then started by Aman Gupta, co-founder and CMO of BOAT.
Anupam Mittal, CEO of Shaadi.com, declared following Aman’s testing, “You will close the markets of the soap industries.”
After testing the “TURMS” items, Aman exclaimed, “Kuch to hai, baat to sahi hai.”
Surendra continued, “This company was operating quite well prior to Covid. The company’s founders, Rameshwar, Rohit, and the other four, believed they would no longer be able to lead it after Covid.”
When he bought the business, Iqubal requested him to elaborate on the circumstances and the time period.
The CEO and co-founder of Lenskart, Peyush Bansal, disclosed that he had previously made an investment in the business. “The company is at loss,” he declared.
In response, Surendra wrote, “Covid time was very tough, but their intentions were not bad.” He also gave further information regarding buying the brand with Peyush.
He revealed that 12.5 percent of the new company’s shares was acquired in exchange for financial payments totaling Rs 1.5 crores.
With a great pitch to change the fashion industry, Surendra entered the tank now. He requested Rs 1.2 crore in exchange for a 2% stock stake.
Anupam made him an offer of Rs 1.2 crore in exchange for 2% royalty and 4% equity up to Rs 1.8 crore being recovered.
In exchange for 4% shares, Azhar and Surendra reached a definitive agreement worth Rs 1.2 crores.
“The sharks were genuinely impressed by the remarkable turnaround we have achieved since acquiring the company, and its current success speaks volumes,” Surender said in reference to his experience on “Shark Tank India 3.” Having all of the sharks give us great comments at the end of the pitch was really encouraging.
“Their encouraging remarks are really inspiring, and I genuinely hope that we can keep going forward by pursuing fresh and creative endeavors. In addition to giving our cutting-edge clothing a stage, Shark Tank India helped us forge vital relationships with our target market,” he continued.
