Haircare and Skincare
Ayurveda
Season 2 Episode 17
| Brand | Avimee Herbal |
| Company Name | Avimee Herbal Pvt. Ltd. |
| Founders | Siddhant Agarwal, Ambika Agarwal, Radha Krishna Choudhary, Vinita Agarwal, Vibhor Agarwal |
| Original Ask | 2.8 crores for 0.5% equity at the valuation of Rs. 560 crores |
| Deal | No Deal |
About the Product
Avimee Herbal prides itself on crafting a harmonious blend of Ayurvedic wisdom and modern ingredients to offer a range of products that not only enhance beauty but also contribute to overall health. Among the best sellers is the Keshpallav Hair Oil, a potent solution that not only reduces hair fall but also promotes robust hair growth. Infused with Rosemary, Castor, Amla, Brahmi, and Bhringraj oils, it is meticulously crafted and free from mineral oil, ensuring the utmost care for hair.
Their acclaimed Avimee Herbal Hair Tone takes hair care to the next level by fighting grey hair with the goodness of Indigo, Henna, Beet Root, and Hibiscus extracts. Providing daily nutrition for hair, this product is designed to keep the locks vibrant and healthy.
For those seeking relief from joint and nerve pain, the Herbal Ortho CP Massage Oil is a natural solution. Enriched with Castor Oil, Gaultheria Oil, Eucalyptus Oil, Arnica Oil, and Myrrh Oil, it offers holistic care for joint and nerve-related discomforts.
At Avimee Herbal, they believe in holistic well-being, and their product range extends beyond individual offerings. Explore their combos and various other products designed to cater to a spectrum of health and beauty needs. Embrace the goodness of Ayurveda and modern ingredients for a healthier, more vibrant you.
Founders & their story
- Radha Krishna Choudhary
- Vinita Agarwal
- Siddhant Agarwal
- Ambika Agarwal
- Vibhor Agarwal
Nicknamed Nanaji, Radha Krishna Choudhary, born in 1957, hails from Bhagatpur, Bihar, and holds degrees in Commerce and Law. Inspired by his daughter’s hair fall issue during the first wave of Covid, Nanaji, an avid Ayurveda enthusiast, developed a transformative brilliant oil through extensive research. Providing the oil for free to family and society, its success catapulted Nanaji into a national and international Ayurvedic sensation. This sparked the birth of Avimee in 2021, a brand marrying Ayurveda with modern ingredients, offering 27+ haircare and skincare products. Nanaji, a living example that entrepreneurship knows no age, aims to solve hair and skin issues, spreading happiness with results-oriented products.
The core team includes Siddhant (CA, Strategy), Ambika (pursuing CA, influential blogger), and Vinita, each holding a 33.3% stake, while Siddhant serves as the Managing Director. With an organic marketing approach, Ambika has garnered 4 lakh followers on Instagram and 2.5 million views on her introductory reel, embodying the idea that consumers are the brand’s best advocates.
About the company:
Radha Krishna Choudhary’s Ayurvedic journey led to the birth of Avimee Herbal in 2021, a brand fueled by passion and a commitment to public welfare. With a library of 2500 Ayurveda books, Nanaji’s Ortho CP Massage Oil and hair fall solution became the foundation for the brand. Launched on Instagram with a mission of public welfare, Avimee Herbal quickly gained popularity through word-of-mouth marketing. Nanaji’s granddaughter-in-law’s social media post turned him into an overnight sensation, and the brand now boasts a massive following. Avimee Herbal, standing out for its honesty, has achieved remarkable sales and success. Starting with a gross profit of 69%, the brand’s products are well-appreciated and recognized among thousands of users. Nanaji’s uncommon success at the age of 85 is a testament to his grit and determination, making Avimee Herbal a symbol of authenticity and excellence.
Revenue:
From August 2021 to March 2022, net sales amounted to ₹6.5 crores, followed by monthly revenues of ₹95 lakhs in April, ₹1.25 crores in both May and June, ₹1.75 crores in July, and ₹1.65 crores in August. The projection for fiscal year 2022-23 anticipates a substantial growth to ₹20 crores in net sales.
Key revenue drivers include a significant order from Dubai amounting to ₹1 crore, a strong presence on Amazon as a best seller, and a robust 88% direct sales contribution through the website. The product mix comprises Kesh Pallav Oil (50%), Hair Tone Spray (30%), and other products (20%). With a repeat rate of 32%, customer loyalty is evident.
Financially, a healthy gross profit margin of 69% is maintained, and after factoring in costs like GST, materials, labor, packaging, and shipment charges, profit before tax stands at ₹205. Overall, the business exhibits solid growth, a diverse product portfolio, and effective financial management.
Founders’ Ask
2.8 crores for 0.5% equity at the valuation of Rs. 560 crores.
Offers:
Amit: 1 crore for 2.5% equity at the valuation of Rs. 40 crores and 1.8 crores debt at 12% interest.
Anupam: 70 lakhs for 2% equity at the valuation of Rs 35 crores and 2.1 crores debt at 15% interest.
Founders’ Counteroffer:
2.8 crores for 1.5% equity at the valuation of Rs 186.67 crores.
No Deal
Reasons for No Deal:
Piyush: He believed the business was sufficiently profitable, and his intervention wouldn’t have added value. They blended elements of public and private firms in valuation, emphasizing forward-looking projections suited for mature businesses.
Anupam: He held firm on his offer and didn’t engage in further negotiations.
Amit: He held firm on his offer and didn’t engage in further negotiations.
Aman: He considered the valuation to be too high.
Namita: She recommended a “less is more” approach, suggesting a narrow product range with a focus on bestsellers. Additionally, she advised against mixing hair and skin product.
