Nuutjob
Initial Ask – Rs.25 lacs for 5% equity at a valuation of Rs.5 Cr.
About the Company
This is a male intimate hygiene product brand, whose parent company is Manscape Inc. Under the brand name, 3 paraben free products including Nuutwash, Nuutfresh and a liquid talc are being manufactured for breaking the taboo in the country. Still in a concept phase, this brand was born due to a huge demand in the sector. For suiting every Indian skin type, they carry out their operations with the help of a third-party manufacturer.
Their purpose is not solely dependent on selling the units under this brand, they even aim to educate people about their cause, and want to challenge the taboo.
Past performance of the Company
With the cost of Rs. 114 and a selling price of Rs. 399, they’ve made sales of 500 units till now, of which October saw sales of 150-160 units. These numbers promise a good gross margin of 70%.
Industry Overview
Being a taboo, male intimate hygiene does not have a proper market in India. However, having understood the potential of this market by its huge demand, manufacturers believe they have a long way to go. Thus, paraben and sulfate free intimate hygiene products have been gaining huge traction recently. However, Covid has disrupted the manufacturing segment. Along with this, the adoption rate for these products is quite low, for which education is very important. This company is the first to launch a talc and a deodorant for this purpose. Seeing the demand
Offers made, and the one accepted:
1. Ashneer Grover and Anupam Mittal started off by offering Rs. 25 lacs, as per their ask, but in exchange for 25% equity.
2. This was challenged by Aman Gupta, Peyush Bansal and Namita Thapar by offering the same amount for 20% equity.
3. To this, Ashneer and Anupam came down to 15% equity by offering the same amount.
However, the founders closed the deal with Aman, Peyush and Namita.