Recode Studio is a cosmetics brand and marketplace that offers its own product line alongside a variety of products from other brands, including Wow Skin Science, Colorbar, Indulgeo Essentials, Power Gummies, and more.
The brand sells a range of cosmetic products, such as eyeliner, kajal, hydrating moisturizer, and others, with prices ranging from ₹200 to ₹600.
Recode Studio operates three franchise stores located in Delhi, Hyderabad, and Raipur. Additionally, its products are listed on two of India’s most popular e-commerce platforms, Amazon and Flipkart.
| Company Name | Recode Studio Pvt ltd |
| Founder | Dheeraj Bansal and Rahul Sachdeva |
| Founded | 2018 |
| Business | India cosmetic brand and marketplace |
| Asked For | ₹1 Crores for 1% equity |
| Final Deal | No Deals |
| Shark | No Sharks |
| Episode (Shark Tank India) | S2 E1 |
| Air Date | Jan 2, 2023 |
| Business Status | In Business |
| Website | Visit Now |
| Headquarters | Ludhiana, Punjab, India |
| Go To Amazon | Buy Now |
Another Shark Tank Pitch
Who Is The Founder Of Recode Studio?
Dheeraj Bansal and Rahul Sachdeva are the co-founders of Recode Studio. They come from different backgrounds, with Dheeraj overseeing the company’s management.
Rahul is a B.Com student who completed his marketing studies at Xavier’s High School. He primarily focuses on the research and marketing aspects of the company.
How Was The Shark Tank India Pitch Of Recode Studio?
Dheeraj Bansal and Rahul Sachdeva entered Shark Tank India seeking ₹1 crore for 1% equity in their company. They explained their product offerings and shared the story behind starting the business.
Recode Studio’s products are available in over 250 shops across India, as well as on their website and app. They have opened three franchises in Faridabad, Delhi, and Raipur.
In 2021, they launched their cosmetic marketplace, which features their brand alongside more than 60 other brands.
Aman Gupta noted that he had seen Recode’s products but did not like the packaging. Namita Thapar stated that she does not invest in competitors of her friends, and therefore, she is out. The total sales for the financial year 2021-22 reached ₹15 crores, with ₹11.5 crores in sales reported by January 2022 for the financial year 2022-2023.
The brand boasts over 236,000 followers on its Instagram account. Last year, their profit after tax was approximately ₹65 lakhs, representing a 6% profit margin. By the end of 2023, they project annual sales of ₹30 crores.
Aman Gupta reiterated that he cannot invest in a competitor of his friend, so he is out. Peyush Bansal mentioned he cannot add value to the brand’s ecosystem, resulting in his exit. Vineeta Singh, who is already involved in a similar business, also opted out.
Notably, 50% of their revenue comes from the marketplace. The founders explained that they established the marketplace out of necessity due to the COVID-19 pandemic, which had nearly caused their business to shut down and run at a loss.
They even resorted to selling expired products in flash sales for ₹1. Anupam Mittal expressed that he is out due to concerns about valuation and chemistry.
Finalize: Recode Studios didn’t get the deal on Shark Tank India.
Recode Studios Shark Tank India Update
Recode Studios did not secure a deal on Shark Tank India, but the sharks were thoroughly impressed by the company’s annual sales and business strategy.
Peyush and Aman mentioned they would incorporate aspects of this strategy into their own businesses. Dheeraj and Rahul delivered a compelling pitch, successfully capturing the sharks’ attention.
Following their appearance on Shark Tank India, Recode Studios launched a mega loot sale on its marketplace, offering discounts of up to 75%.
Many viewers felt that the reasons provided by Aman and Namita for not investing in this cosmetic brand were not valid.
The founder mentioned that they expect to achieve annual sales of ₹30 crores by the end of 2023. Currently, the company is operating profitably, with a profit margin of 6%.
Although Recode Studios did not secure investment on Shark Tank India, many people were surprised by the company’s sales performance on social media after the show aired.
In 2022, the company recorded annual sales of ₹11.5 crores. From 2021 to January 2023, Recode Studios generated a total revenue of ₹26.5 crores.
We will continue to follow Dheeraj Bansal and Rahul Sachdeva, along with their company, for further updates.
What Is Recode Net Worth?
Recode’s net worth is estimated at ₹75 crore. The estimated market size of India’s cosmetic industry in 2023 is $6.27 billion, and this industry continues to grow.
Yes, Recode Studio is still in business as of April 2024.
