Rohit Nandwani, Chand Bhatia and Rohit Singla came into Shark Tank India with their brand Hammer Lifestyle which started in 2019. The brand has been able to serve about 1.5 lakh customers till date and offers a range of products including Smart Watch, Bluetooth Headsets & Electric Toothbrush and more.
Ask: Rs. 30 lakh for 3% Equity
Since Gadgets are evolving and the market is huge, their is always a scope of sustaining in the market and thus with a vision to make these Gadgets available across India, the founders wanted to improve the lifestyle of people.
The Most Interesting Debate: Hammer vs boAt
An interested spark was added to the discussion when Peeyush asked whose headphones should be bought, boAt or Hammer? The answer though not the most interesting one, was based on utility.
The segment in which he categorized boAt and Hammer was, Cool Segments and Comfort Segment, Cool being the BoAt one and comfortable being for the Hammer Headphones.
Though it appeared that Rohit was caught a bit off-guard with boAt related questions and comparison but that’s how the Sharks test an entrepreneur and that’s how you improve, being confident and ambitious!
What Sharks had to Say?
Namita started of by saying a No as she didn’t wanted to enter into such a market and wished good luck! Peyush, though looked interested and offered some brilliant suggestions, but went ahead and said no to the offer.
Aman who stayed quiet initially started of by saying, in a market, you should come in with a product that’s unique and has better chances of capturing the market, for ex: Hammer’s Electric Toothbrush. Aman showed interest.
On the other hand, giant Ashneer and Anupam came together to offer a better deal which was Rs. 1 crore for 25% Equity. The discussion went to the next level when Ashneer said,
Tu jis taraf ja raha hai na, tu uss taraf apni position kharab kar raha as a BRAND! Ye kha jayega tere ko…
Coming back to the deal, Aman offered Rs. 1 crore for 75% Equity to which Rohit said No, and Aman revised it to Rs. 1 crore at 50% Equity. Ashneer counter offered Rs. 1 crore at 20% Equity which made it more tougher to reach to a decision for Rohit.
To close the discussion, Aman offered the same investment at 40% Equity as the last deal to which Rohit said YES!
Wow, a lot of debate and heated discussion but ended in a WIN-WIN for both Aman and the brand Hammer Lifestyle.