Shyle, a silver jewelry brand, impressed both viewers and investors on Shark Tank India Season 4, Episode 11, securing a deal with its innovative designs and compelling business approach.
Founded in 2017 by Astha Katta Sirohiya and Radhesh Sirohiya, Shyle is based in Jaipur, Rajasthan, and specializes in high-quality silver jewelry.
The brand is dedicated to preserving the rich heritage of Jaipuri craftsmanship while incorporating modern design elements to appeal to contemporary tastes.
The founders sought ₹70 lakhs for 1% equity, valuing the company at ₹70 crore during the show. They emphasized Shyle’s unique selling points: affordable pricing, distinctive designs, and a seamless blend of traditional craftsmanship with modern aesthetics.
Namita Thapar and Ritesh Agarwal initially offered ₹70 lakhs for 1.5% equity, coupled with a 1% royalty until the investment was fully recouped. Meanwhile, Anupam Mittal countered with a ₹1.4 crore investment for 5% equity and suggested structuring the royalty in a “Marwadi” style.
The discussion turned tense when a misunderstanding arose. Anupam interpreted the phrase “baadmein dekh lenge” as dismissive, prompting him to withdraw from the deal.
Vineeta Singh stepped in, cautioning the founders that such remarks could damage their reputation. Anupam sternly stated, “I am 100% out. You just said ‘baadmein dekh lenge,’ which is absolutely unacceptable.”
The founders clarified that the statement was a misinterpretation and reiterated their respect for the panel. Following this, Namita explained the revised deal terms, including a 0.5% royalty. The founders reassured her, saying, “Ma’am, we are people of our word.”
After further discussions, Shyle successfully closed a deal with Namita and Ritesh.
The final agreement included an investment of ₹70 lakhs for 1.5% equity and an additional 0.5% royalty until the initial amount was recovered, valuing the company at ₹46.67 crore.
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Shyle’s product line showcases a unique blend of traditional handcrafting techniques and innovative designs, ensuring exceptional quality and global resonance.
The founders emphasized their mission to elevate Jaipuri artistry on a global stage while maintaining strong profitability.
