In Season 2, Episode 50 of Shark Tank India, Parul Gulati, the founder of Nish Hair Extensions impressed the sharks with her pitch for affordable hair extensions. Despite being not so good with the numbers, her charm won over the sharks, and she managed to secure a deal with Amit Jain, who offered ₹1 crore for 2% equity.
Let's dive deeper into Parul Gulati's journey and how Nish Hair managed to stand out in the competitive market of hair extensions.
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About Nish Hair Extensions
Founded in 2017 by Parul Gulati and her mother, Nish Hair offers DIY clip-in hair extensions for women. The name "Nishu" was given to Parul by her mother, which inspired the brand's name. Nish Hair claims to be India's first online company of hair extensions, providing the best clip-in hair extensions with the fastest delivery time in India and worldwide.
Who is the owner of Nish hair?
The founder of Nish Hair is Parul Gulati, who started the business in 2017 with her mother. Parul Gulati is an actor with experience in Punjabi films and Hindi web series.
What made Nish Hair Extensions stand out?
One of the factors that made Nish Hair stand out from the competition was its affordability. Hair extensions are often considered a luxury, but Nish Hair aimed to make them accessible to every woman by offering them at reasonable prices.
Moreover, the brand focused on educating its customers through social media promotions. Parul herself promoted and educated her customers about the product, which helped her gain their trust and loyalty. As a result, 80% of Nish Hair's sales come directly from its website.
More About Nish Hair Founder
Nish Hair Extensions on Shark Tank India
During her pitch on Shark Tank India, Parul asked for ₹1 crore in exchange for 2% equity. Despite being not so good with the numbers, her pitch won over the sharks. However, there was a similar startup in the same space called Hair Original from Shark Tank India season 1. Anupam invested in that, so he had to go out but wished her success.
Amit Jain, Vineeta, and Aman made offers to Parul, but she ultimately accepted Amit Jain's deal of ₹1 crore funding by giving 2% equity. Vineeta promised that she will get access to Sugar's team in Mumbai. Peyush was slightly concerned about the approach of bringing an external partner and if the pitcher would be happy with that or not. He was also going to invest in Hair Original.
After Shark Tank Updates
Since appearing on Shark Tank India, Nish Hair has garnered a lot of attention from celebrities like Huma Qureshi, Komal Pandey, Barkha Singh, Ahsaas Channa, and Sobhita Dhulipala. They have all used Nish Hair's extensions and promoted the brand on social media.
In FY 2021-22, Nish Hair recorded sales of ₹6.7 crores with a 30% net profit. This is a testament to the brand's growing popularity and its ability to stand out in the competitive market of hair extensions.
Nish Hair Extensions Reviews
Conclusion
Parul Gulati's Nish Hair is a prime example of how a unique and affordable product combined with effective marketing strategies can help a brand stand out in a crowded market. Her charm and passion for her product impressed the sharks, and she managed to secure a deal with Amit Jain on Shark Tank India.
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