Vineeta Singh Calls Out Shraddha Kapoor’s Palmonas’ Marketing Strategy on Shark Tank India: ‘This Isn’t a Lifetime Warranty’

In the most recent episode of Shark Tank India, the husband-and-wife team behind the demi-fine jewelry line Palmonas made an appearance, making what could be considered the most on-brand pitch of the season.

### The Pitch and Shraddha Kapoor’s Stake

Pallavi and Amol defined demi-fine jewelry as falling somewhere between fine and artificial jewelry, highlighting that their products are distinguished by a heavier layer of gold plating compared to more affordable artificial jewelry. Pallavi assured the panel of “sharks” that their products have no adverse effect on the skin. The couple disclosed that Shraddha Kapoor holds a 21% stake in Palmonas and is a co-founder. They valued the company at Rs 126 crore and sought Rs 1.26 crore in exchange for 1% equity.

### Shraddha Kapoor’s Involvement

When the “sharks” inquired about Shraddha’s absence, Pallavi explained that she recommended the star to forego the show due to her lack of experience in pitching. When asked by Vineeta Singh how they brought Shraddha on board, Pallavi shared an intriguing story. While perusing Instagram, Shraddha came across Palmonas jewelry and purchased several pieces. Pallavi discovered Shraddha was one of their customers after reviewing orders. They prepared a reel stating “Shraddha wears Palmonas,” which reached the actor. Pallavi traveled to Mumbai to meet Shraddha during her pregnancy, leading to a successful partnership.

The company raised Rs 6 crore in an angel round, valuing it at Rs 126 crore. Pallavi informed the “sharks” that they expect Rs 35 crore in revenue this year. Despite the high valuation, Aman Gupta expressed interest. Namita Thapar, offering the exact valuation the founders were hoping for, proposed Rs 1.26 crore for 1% equity. However, Pallavi rejected the idea of royalties.

### Debate Over Lifetime Warranty

Kunal Bahl questioned Pallavi about their “lifetime warranty” and found it misleading. The co-founder explained they offer a portion of the purchase price back in store credits after a specific number of years. Vineeta Singh expressed shock, stating, “This isn’t a lifetime warranty,” and warned that misleading customers could harm the brand. She emphasized that a store voucher worth Rs 400 is useless if a customer spends Rs 3000 on an item.

### Final Deal

Kunal and Vineeta withdrew from the agreement, but Ritesh Agarwal volunteered to work with Namita. During their deliberation, Kunal advised Namita not to let royalties threaten the business. Namita remained firm and confident, advising Ritesh to adopt a tough stance. When Pallavi and Amol returned, they reiterated their refusal to offer royalties. Pallavi’s consent to proceed without royalties shocked everyone. Aman Gupta praised Namita, declaring, “You’re the real shark.”