Shark Tank India Season 2: Pitcher says PM Modi wears my watch but still did not get a deal? Know the reason here

Shark Tank India Season 2: Gaurav Mehta came to present his ancient watch company, which use ancient coin designs in watches to make it more fashionable. He claimed that many big celebrities wear his watches. He said that PM Modi wears the watches of Jaipur Watch Company. But still he did not secure a deal from the Sharks. We will tell you the reason that why Sharks weren’t interested in investing the Jaipur Watch Company.

Shark Tank India Season 2: High Pricing Watches

Gaurav submitted his offer of Rs 50 lakhs for 2% equity, pursuing his aim of building a market place for an Indian luxury brand. Pret and Bespoke are the two watch categories offered by the brand. The former is priced between Rs 20,000 and 50,000, while the latter is priced between Rs 1.5 and 24 lakh. The pricing of the watch is one of the biggest reason behind his failed attempt. The pricing of the watches is very high and the consumer can buy watch of any big product instead of buying from a new product.

Branding is not to the point

The branding isn’t good even after providing the high price products to the consumer. The website is also unresponsive several times and logo is also normal as compared to a luxury brand and these are the big factors if you want to scale your business. Gaurav Mehta lacks these things and he failed to get a deal from the Sharks but Gaurav said in an interview that his sales are increasing after Shark Tank’s episode.

Also Read: Shark Tank India Season 2: What inspired Peyush Bansal to offer blank cheque to pitcher? Know Here

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