The founders of Aastey, an athleisure wear company for women, pitched their brand on Shark Tank India. They highlighted Aastey’s focus on size-inclusivity and sustainability, using recycled materials. Despite claiming good initial sales, the company is currently struggling. Sharks were unimpressed by the drop in sales, high inventory levels, and questioned the founders’ marketing strategy and financial management.
Table Of Contents
- About The Company – Aastey
- About The Pitcher
- Aastey Pitch Details
- Solutions Offered By The Business
- Lesser Known Facts About Aastey
- FAQ's
- 1. What makes Aastey unique in the athleisure market?
- 2. Did Aastey impress the Sharks with their sales figures?
- 3. Why might Aastey have so much unsold inventory?
- 4. Despite impressive backgrounds, why did the Sharks criticize the founders?
- 5. What did the Sharks' critique reveal about the fashion industry?
- Business Profiles
- Video
About The Company – Aastey
| Startup / Company Name | Aastey |
| Industry | Fashion Industry |
| Founder | Jeevika Tyagi and Kanupriya Mundhra |
| Product / Service | Leggings, Sports bras, Tank tops, and Others |
| Revenue | 3.2 Crore |
About The Pitcher
| Number of Presenters | Two presenters |
| Name of Presenters | Jeevika Tyagi and Kanupriya Mundhra |
| Pitchers City | Mumbai and Bangalore |
| Pitchers State | Maharashtra and Karnataka |
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Aastey Pitch Details
| Shark Tank Episode | Episode No. 23 |
| Original Ask Amount | ₹80 Lakhs |
| Original Ask Equity | 2% Equity |
| Original Valuation | 40 Crores |
| Offer Received | NA |
| Final Deal Amount | NA |
| Total Deal Equity | NA |
| Sharks in Deal | NA |
Solutions Offered By The Business
the detailed solutions offered by the business, Aastey, are a little unclear due to their current financial struggles. However, we can glean some information about their original goals and potential solutions based on the Sharks’ critiques.
Original Solutions Offered by Aastey:
- Size-Inclusive Athleisure Wear: Aastey aims to address the gap in the athleisure market by offering a wider range of sizes to cater to more women.
- Sustainable Clothing: They use recycled materials to create a more environmentally friendly product.
- Stylish and Comfortable Clothing: Aastey positions itself as offering clothes that are both fashionable and practical for various activities.
Potential Areas for Improvement (based on Sharks’ feedback):
- Marketing Strategy: The Sharks suggest that Aastey’s marketing efforts haven’t been very effective. They need a strategy that generates sales and fosters brand loyalty, resulting in repeat customers.
- Inventory Management: Aastey has a significant amount of unsold inventory. They need to develop a plan to sell this excess stock, possibly through discounts, strategic partnerships, or other creative methods.
- Financial Discipline: The Sharks believe the founders may not have strong financial management skills. Aastey would benefit from strategies to improve cash flow and profitability.
Possible Solutions Aastey Could Implement:
- Targeted Marketing Campaigns: Aastey could focus their marketing efforts on reaching their target audience more effectively. This might involve social media marketing with relevant influencers or strategic collaborations with fitness centers or yoga studios.
- Discounting or Sales Promotions: To move excess inventory, Aastey could offer discounts or promotions to incentivize purchases.
- Product Bundles: Creating product bundles that combine different Aastey items at a discounted price could also be an option.
- Building Brand Loyalty: Aastey could implement a loyalty program to reward repeat customers and encourage brand advocacy.
- Seeking Mentorship: The founders might consider seeking mentorship from experienced business professionals to improve their financial management and brand-building skills.
By addressing these areas and implementing some of these solutions, Aastey may be able to overcome their current challenges and achieve sustainable growth.
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Lesser Known Facts About Aastey
Here are some interesting facts about the Aastey pitch on Shark Tank India:
- Sustainable and Size-Inclusive: Aastey focuses on a unique niche in the athleisure market, combining size inclusivity with sustainable practices by using recycled materials.
- Questionable Marketing Strategy: Despite initial success, their sales dropped significantly, raising questions about the effectiveness of their marketing efforts.
- High Inventory Levels: The company struggles with a large amount of unsold inventory, which might be due to a mismatch between production, marketing, and consumer demand.
- Founder’s Backgrounds: Both founders come from impressive academic backgrounds, with studies at prestigious universities and work experience at well-known companies.
- Sharks’ Criticism: The feedback from the Sharks highlights the importance of financial discipline, strategic marketing, and inventory management in the fashion industry.
- Debate on Profitability: While the founders claim to have made some profit recently, the overall financial situation seems concerning to the Sharks due to dropping sales and high inventory.
- Future of Aastey: The pitch leaves the future of Aastey uncertain. Whether they can overcome their challenges and secure investment or need to pivot their strategy remains to be seen.
FAQ’s
Business Profiles
Video
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