Thea and Sid is a jewelry startup got in Shark Tank India. This article will tell you about how Thea and Sid rings are priced, sold, and the whole journey of this startup. Focuses on thea and sid jewellery, thea and sid shark tank, thea and sid owner, thea and sid shark tank india, thea and sid kumkum bhagya, thea and sid, thea and sid rings, and Shark Tank India
Thea and Sid | Shark Tank India
|Company Name||Thea and Sid|
|Founders||Aditi and Ashwini|
|Business Category||Proposal Rings and Jewelry|
|Net Worth||2 Crore|
|Funding Asked||Rs80 Lakhs for 7% Equity|
|TV Show||Shark Tank India – EPISODE 32|
This startup is a complete proposal solution. Aditi Minda(36) and Ashwini Gadia are the founders of Thea and Sid.
When we find rings online either they are the traditional ones or they went out of our budget. For the Proposal, we need a ring which should be stylish and for life long duration.
They make 925 sterling silver and 6A Grade Cubic zirconia excellent quality rings. This company also offers us a ring sizer, After-sales service, Dating/ Proposal advice, and Inspirational real-life love stories.
What is their ask for investment from Sharks?
Thea and Sid have asked for Rs80 Lakhs in exchange for 7% Equity. The company’s valuation is Rs11.43 Crores.
QnA | Sharks asking Thea and Sid | Shark Tank India
Do the founders belong to Jeweler Family?
Founders and CEOs of this startup belong to a Diamond Family as her father is a diamond manufacturer and her husband is a diamond trader.
How was this idea raised to start
When she came from the USA after completing her course so she had a huge debt on her and her house was mortgaged because of her education loan. Due to the recession, she decided to come back to India. She was gone there for screenplay writing.
In Hollywood, they require sterilizing diamond necklaces so they got an idea from there to start this business.
They had thought to start a jewelry unit and set up the same online. They started with Adastra Jewelry PVT Ltd which they used to export heavy necklaces and earrings. Their business was going well in America and they thought to start the same in India.
In India Sterling silver is liked by only the younger generation and the proposal market is getting kicked. The proposal rings in India is having a great market gap and they wanted to make the jewelry buying business more vibrant.
When did they start this Proposal Rings brand?
Thea and Sid were started 5 Months back and Adastra was started 5 years ago.
Their packaging is not attractive but inside the box, it is very attractive.
Is Adastra going on?
At present, the founders of this startup have automated the Adastra and their mother is managing that Business. They are sitting on the business.
What is the networth and sales of Adastra Jewelry?
Their lifetime sales of the business are 12 Crores, In a covid year they made 2 Crores and last month their sales was of Rs10 Lakhs
What is the selling and cost price of rings?
They sell the rings in the range between Rs1500-Rs6500 and the cost price of same comes to Rs 350-850
What are profit margins of this business?
The gross margin of this rings business comes to 75%-90% and their net margin is 30% which is very good in business terms
What is the revenue and networth of Thea and Sids?
Their one-month revenue comes to Rs1 Lakh 30 Thousand.
Who buys rings from Thea and Sids?
The main age group of boys who are not having jobs at that time is buying proposal rings from them. 80% Of their sales come on Valentine’s day.
Sharks review on this startup
Anupam “If I proposed with this ring then I might be got rejected”
Ashneer “Whenever someone is getting proposed so her/he expects to get an expensive item to be a special occasion”
Founders reply to sharks
Engagement and Proposal are two different occasions. Millennials buy rings from them on Proposal which is of medium price and they gift expensive rings on Engagement.
1:1 | Sharks investing in Thea and Sids | Shark Tank India
He agrees that Millineals of the new generations are looking for everyday jewelry in silver/gold. Their product and finish is very good and they should make a jewelry ring in which engagement rings will automatically sell and brand value will also build simultaneously. Anupam does not feel that they are ready for the products so he is out.
Anupam also watched the other jewelry product.
Jewelry is a category which is a high category and the new project being tried by the founders is half baked. Ashneer explained how they are doing a trial that if they get funding for their new business so they will dedicate less time to their old business which will not be possible. For this reason, he is out.
Namita Thapar- Executive Director at Emcure Pharmaceuticals (Shark)
She said that their pitch was started by lifetime proposals, then as you change your girlfriend for valentine products and then it moved to other jewelry products. Namita is unable to understand the value proposition that’s why she is out from pitch.
Understanding the age group of 18-24 is one of the tough tasks. Aman thinks that their business model is perfect and their target audience is buying their products, He asked founders to convince him to invest in this startup in one line.
He said that everything is good but he is not getting kicked so for this reason he is out from this pitch.
Peyush Bansal – Founder Lenskart (Shark)
Peyush is not interested in the jewelry industry and will not be able to add value with much passion so for this reason he is out.
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