Prime info about Shraddha Kapoor-backed jewelry model Palmonas that featured on Shark Tank India

The next are some info about Palmonas and its look on Shark Tank.

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Shraddha Kapoor didn’t create the model however joined later

Pallavi Mohadikar and Amol Patwari are the founders of the model, whereas Shraddha owns a 21% stake in it. The actress’ funding into the model and being appointed as its co-founder occurred after the founders got here to know that she was the truth is, a loyal buyer and reached out to her.

‘Demi-fine’ jewelry

The model focuses on demi-fine jewelry. Demi-fine jewelry right here refers to jewelry made with surgical-grade stainless-steel that’s plated with 18k gold vermeil (An alloy of sterling silver and gold), coupled with semi-precious stones, making it extra reasonably priced for the plenty, whereas additionally not being cheaper imitation items.

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Fast development

Initially based in 2022, the model claims it has a present development of 200% year-on-year. It has additionally launched 5 retail shops in simply three months and ships its merchandise worldwide.

Vineeta Singh referred to as its lifetime guarantee deceptive

When Shark Kunal Bahl, the co-founder of Snapdeal questioned the lifetime guarantee of the merchandise, the co-founders defined that “it is a depreciating asset, but when within the first six months you come the product, we provide you with 50% of the order worth. After 6-12 months, we give 25% of the acquisition worth, and after that, for a lifetime, we give 15% of the acquisition worth as retailer credit score.”

To this, Bahl responded, saying “However this isn’t a lifetime guarantee.” Sugar Cosmetics founder Vineeta Singh added that when clients realise that they’ve been misled by the promise of a lifetime guarantee, it can impression the model. “If I purchase one thing price ₹3,000 and in return get a ₹450 present voucher, it holds no actual worth,” she mentioned.

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Shraddha Kapoor did not come on Shark Tank to pitch the model

When the sharks identified Shraddha’s absence, Pallavi responded saying, “She was very excited to come back on the present. I advised her, yeh tumhari experience nahi hai (this isn’t your experience)”. The panel burst out in laughter on the reference to Namita Thapar’s phrase.