What Happened to Nestroots After Shark Tank India?

Nestroots is an Indian brand that provides decor, furnishings, kitchenware, dining, and other furniture products. Their products offer elegant aesthetics and unique design. Nestroots products have utility-based superior quality at affordable pricing.

More About Nestroots

Before Nestroots, Chhavi worked in the industry for 10 years. She worked with Arvind brands for the first 5 years in sales and operations. Post that, she worked in training and development for 5 years.

Chhavi got married in 2015. She decided to buy furniture and other necessary household items for her house decoration. She didn’t want old-style products; instead, she wanted modern and affordable options. She had to check tens of shops and scroll through hundreds of websites.

But she couldn’t find an Indian brand that had products to her liking and needs. That’s how she came up with the idea of Nestroots and founded the company in 2016.

Nestroots is available on over 25 different platforms, including own website and marketplaces like Amazon, Flipkart, Tata Click, and Myntra.

Nestroots products are already used in more than 1 lakh Indian houses. Chhavi’s vision is to transform Nestroots into Indian households’ go-to brand in its category. They also want to compete against international brands with their design and elegance.

Chhavi’s father is a retired businessman. And her mother owns an ethnic-wear label.

Nestroots has 5 major categories with 28 subcategories.

1. Furniture – ottomans, pouffes, stools, side tables
2. Kitchen and dining products –
3. Serveware and tableware
4. Barware
5. Furnishings

Nestroots Shark Tank Pitch and Updates

Chhavi Singh appeared on Shark Tank India Season 2 Episode 9 seeking INR 50 lakhs rupees for 1% equity at a valuation of INR 50 crore.

Furniture contributes to 55% of the total business. Their monthly average is INR 1.1 crore in sales. These are net sales after returns. Deducting 12% GST, sales come to around INR 90-98 lakhs. 75% of their sales come from the marketplaces, and the rest 25% come from their website. Their gross margin is 70-75%. Almost 10% goes into logistics annually.

Their business is profitable, with a monthly net profit of 16-19%. Their total sales in FY22 were INR 7.2 crore, with a net profit of 14%. They were projecting INR 16 crore in sales in FY23. However, they are only contributing INR 5-6 lakhs for marketing each month. Chhavi and her father hold all the equity in the company.

Vineeta had to get out of the deal because she had invested in a similar business a while back. However, Namita gave Chhavi an offer of INR 50 lakhs for 2% equity at a valuation of INR 25 crore. Aman decided to get out because he believed Namita’s offer was really great.

Anupam felt there would be a lot of competition in the category, and that’s why he was out too. Peyush wanted to offer INR 50 lakh for 5% equity, but he said Namita’s offer was already better. So, he also decided to get out of the deal.

Nestroots got a deal of INR 50 lakhs from Namita Thapar for 2% equity at a valuation of INR 25 crore on Shark Tank India Season 2.

Frequently Asked Questions About Nestroots

After their appearance on Shark Tank India Season 2, people were trying to find more information about Nestroots. Here are some of the frequently asked questions about them.

1. Who Is The Founder of Nestroots?

Chhavi Singh is the founder of Nestroots.

2. Is Nestroots profitable?

Nestroots is profitable.

3. Why Sharks did not invest in Nestroots?

Vineeta couldn’t invest because she had already invested in a similar other company. Peyush and Aman liked Namita’s offer and didn’t want to counter it. Anupam felt there would be lots of challenges in the business.

4. What happened to Nestroots after Shark Tank?

Nestroots got INR 50 lakhs for 2% equity in Shark Tank India Season 2. After the episode was aired, they started a 10% off sale on their website. We are following them for more updates in the future.