Make your own lipstick
Experience
Season 3 Episode 36
| Brand | Karibo |
| Company Name | Karibo Cosmetics |
| Founders | Bhakti Bhanushali, Jasmine Shah |
| Original Ask | 80 lakhs for 5% equity at the valuation of Rs. 16 crores |
| Deal | No Deal |
About the Product
Karibo Cosmetics offers the opportunity to create custom blend lipsticks, allowing individuals to tailor their makeup to their preferences. Their products are cruelty-free and adhere to clean beauty standards, free from harsh chemicals that may be harmful. With a focus on safety, Karibo ensures their cosmetics are suitable for all, including children. In addition to their customizable lipsticks, Karibo also provides the option to host swatch parties, adding a vibrant touch to personal events. Their experienced experts bring the lipstick-making experience directly to customers’ doorsteps, ensuring convenience and satisfaction.
Among their standout products are the Shabaab and Tamasha bullet lipsticks, known for their rich colours and long-lasting wear. For those who prefer liquid lipsticks, Karibo offers the Rajkumari and Adah collections, providing a variety of shades to suit every style and occasion.
Founders & their story
- Bhakti Bhanushali
- Jasmine Shah
Karibo Cosmetics, a beacon of bespoke beauty, invites patrons to embark on an odyssey of self-expression through personalized lipstick creation. Since its inception in October 2020, Karibo has blossomed into a sanctuary where individuality thrives and desires are meticulously crafted into reality. Each event hosted by Karibo Cosmetics is a symphony of innovation, drawing in a captivated audience of 300 enthusiasts. Whether nestled within the embrace of domestic gatherings or spanning the distances of intercity and international rendezvous, Karibo graciously accommodates with a minimum order quantity tailored to the occasion — 6 lipsticks for domestic affairs and 25 for journeys beyond.
Swatch parties, a clandestine affair of colour and creativity, find their stage predominantly in private events, where guests revel in the opportunity to explore the boundless palette of possibilities. With over 500 events under their belt, Karibo Cosmetics boasts a team of 12 skilled mixologists, artisans of the alchemical fusion that transforms dreams into reality. The crescendo of each event culminates in sales that reach the zenith of 45,000 during peak seasons and a steadfast 25,000 during the quietude of off-seasons.
The veritable tapestry of Karibo’s sales channels reflects the multifaceted nature of their clientele’s preferences — events command a lion’s share at 60%, while the intimate realm of WhatsApp whispers accounts for 35%, leaving a modest 5% for other avenues of acquisition. Karibo Cosmetics understands the value of loyalty, with each customer returning an average of three times to indulge in the enchanting world they’ve curated. Amidst this kaleidoscope of engagement, individual lipsticks become ambassadors of empowerment, with 1500 finding new homes to grace.
As they march forward towards formal incorporation, Karibo remains steadfast in their commitment to customization, offering patrons the ability to craft not only shades, but textures and scents as well. Their products, a testament to their ethos of compassion and quality, are vegan, child-friendly, cruelty-free, and dermatologist-approved. Embracing sustainability, Karibo’s refillable packages echo their dedication to both the environment and the artistry they embody. For those seeking not just a lipstick, but an experience — Karibo Cosmetics stands as a beacon of possibility, where the canvas of self-expression awaits its next masterpiece.
About the company
Karibo Cosmetics places quality above quantity, dedicating time and resources to craft customized lipsticks of the highest calibre. Their commitment to organic, safe, and transparent development processes ensures that their products are not only visually appealing but also trustworthy. Embracing a mission to seamlessly blend cosmetics with skincare, they invite you to be a part of their journey. At Karibo, diversity and uniqueness in beauty are celebrated, rejecting predefined standards of shade, shape, or form. Their ethos revolves around creating beauty in its purest form, achieved through the exclusive use of natural, food-based ingredients.
Revenue
In the fiscal year 2023-2024, Karibo Cosmetics achieved sales of 64 lakhs by September, showing resilience despite challenges. Projected sales for the year are an impressive 1.65 crores. With a solid gross margin of 61% and a net margin (excluding partner’s remuneration) of 50%, Karibo continues to demonstrate strong financial performance. In the previous fiscal year, net profit reached 40 lakhs, reflecting their commitment to sustainable growth and profitability.
Founders’ Ask
80 lakhs for 5% equity at the valuation of Rs. 16 crores.
No Deal
Reasons for no deal
Amit: 60 lakhs for 2.5% equity at the valuation of Rs. 24 crores.
Aman: The business needs a cofounder who knows the business.
Peyush: The business is not investible right now.
Radhika: The concept has to translate into a scalable business.
Ritesh: The company needs a few years to set up the business.
Vineeta: Experimental products do not scale well. Keep it as a service business and not a product business.