Shark Tank India Season 4, currently streaming on Sony LIV, has seen a range of intriguing business pitches. Recently, a sibling duo from Delhi introduced their company, Beautywise, which specializes in supplements for skin, hair, and body.
During their pitch, the founders revealed plans to enter the slimming solutions market. They sought an investment of ₹1 crore from the Sharks in exchange for 1.5% equity, valuing their company at ₹66.67 crore.
Namita Thapar Raises Concerns Over Slimming Solutions
When questioned about their slimming solution pills, Namita Thapar expressed strong reservations regarding their approach.
“I have a huge problem with how you are pitching your product,” she said, as reported by Indian Express.
She further pointed out that some of the ingredients listed on the label are commonly used by diabetics. Expressing concern over the growing trend of weight-loss solutions, she remarked:
“People are getting injected by such products at kitty parties.”
Thapar also warned about the potential health risks, emphasizing that such products can be extremely harmful to the body.
Concerns Over Clinical Trials and Business Model
The founders claimed they had conducted six clinical trials involving 60 patients, reporting an average weight loss of 1.4 kg along with waist size reduction. However, Namita Thapar found the sample size insufficient, stating:
“The sample size to be too small.”
Additionally, the Sharks discovered that these trials were not conducted in India. When Thapar learned that the product was primarily sold at skin clinics, where a significant portion of the revenue was going to these clinics, she decided to step out of the deal.
Another Shark, Vineeta Singh, also opted out upon realizing that the company was spending heavily on marketing.