Shark Tank India 5 Witnesses Spirited Clash Over Spiritual Wearables Deal
Shark Tank India's fifth season delivered a dramatic episode featuring a spiritual wearables brand. The pitch sparked intense debate among the sharks, particularly around ethics and superstition.
Japam Founder Seeks Rs 150 Crore Valuation
Ritoban Chakrabarti from Mohali presented his brand Japam to the sharks. He requested Rs 1.5 crore for just 1 percent equity, placing his company's valuation at a staggering Rs 150 crore. The founder shared an interesting childhood anecdote during his introduction.
"An astrologer once told me I would do 'do numbri ka kaam'," Ritoban revealed. "I later realized this meant becoming an entrepreneur." His business focuses on selling rudraksh, spiritual beads, and various stones. He projected closing the financial year with approximately Rs 60 crore in revenue.
Authenticity Questions and Spiritual Commerce
Namita Thapar immediately questioned the entrepreneur about spirituality versus superstition. "Fear and spirituality are very interconnected," Ritoban admitted. He argued that his mission involved promoting authenticity in an unorganized market.
Vineeta Singh examined his products and questioned the authenticity certificates. Ritoban explained that Japam selects laboratories to certify products, then issues its own certificates. This unusual practice raised eyebrows but didn't receive deep scrutiny from the sharks.
Ethical Concerns Divide the Panel
Viraj Bahl expressed strong reservations about commercializing spiritual products. "I wear a black thread from a temple that holds great meaning for me," he shared. "But it was free. I cannot profit from making people believe spending money brings wellness."
Ritoban defended his business model cleverly. "The question about what's real hasn't been answered for decades," he countered. "There's a reason people go on pilgrimages and donate money." He couldn't explain why his products were more valid than others but emphasized his ambition to build a billion-dollar enterprise.
Sharks Debate Investment Merits
Vineeta Singh and Kunal Bahl both opted out of negotiations. They noted that Ritoban already ran a profitable business with sufficient cash flow. Viraj Bahl was the first to exit, calling the venture "against my belief system."
Namita Thapar surprised everyone by expressing interest despite her anti-superstition reputation. "India has many superstitions," she acknowledged. "A real player needs to emerge here." She partnered with Varun Alagh to present a joint offer.
Unusual Negotiation Dynamics Unfold
Ritoban turned the tables by asking the sharks to pitch themselves. "What will you bring to the table?" he questioned. In a rare moment, both Namita and Varun detailed their strengths and how they could assist the brand.
Their initial offer involved Rs 1.5 crore for 1 percent equity with 1x royalty. This royalty provision meant they would eventually recover their entire investment. Ritoban immediately recognized the implications.
Kunal Bahl Challenges the Deal Structure
"Then what have you actually put on the table?" Ritoban asked pointedly. Kunal Bahl, though out of negotiations, couldn't resist commenting. "Good answer," he applauded. "I was thinking you're so commercially savvy. How haven't you realized this?"
Namita Thapar appeared visibly irritated by this intervention. "You are out," she told Kunal sharply. "Why are you talking?" She then revised her offer to Ritoban, reducing the equity stake to 0.5 percent while keeping the royalty terms.
Final Agreement Reached Amid Tension
Kunal jumped in again, noting this created "zero risk for the sharks." Namita clapped back firmly. "You don't listen to those who are out," she asserted. "We are putting in our money. Listen to us."
The negotiations concluded with Ritoban accepting Rs 1.5 crore for 1 percent equity with 1x royalty. This maintained the Rs 150 crore valuation while ensuring the sharks would recover their investment through future royalties.
The episode highlighted fundamental questions about commercializing spirituality in modern India. It also demonstrated how even successful entrepreneurs face tough scrutiny when their business models intersect with personal beliefs and cultural practices.
