Recode Studio Shark Tank India Update (Season 2)

Recode Studio is a cosmetic business that sells premium international product quality cosmetic items in India at Indian prices. This brand has an online cosmetic marketplace where products from multiple brands are listed.

The company is associated with leading manufacturers from all over the world, mainly Germany and Taiwan. This company aspires to become the world’s largest platform for multiple beauty and lifestyle brands.

Recode Studios Pvt Ltd Company was launched in 2018 by Founder Dheeraj Bansal and Rahul Sachdeva in Punjab. They launched their Cosmetic Brands Market Marketplace 2021 and by January 2023, there are 60+ brands on their marketplace.

Dheeraj and Rahul appeared in Shark Tank India Season 1 Episode 2 with their company Recode Studio and asked for ₹1 Crore for 1% Equity at a ₹100 Crore valuation from Shark.

What Is Recode Studio?

Recode Studio is a cosmetics brand and marketplace. They have their cosmetic product line and sell various brands of products on their marketplace, including Wow Skinscience, Colorbar, Indulgeo Essentials, Power Gummies, and many more.

This brand sells different cosmetic products like Eyeliner, Kajal, Hydrating Moisturizer, and many more. The price of their products ranges from ₹200 to ₹600.

The brand has 3 franchise stores in Delhi, Hyderabad and Raipur. The products of this brand are also listed on India’s two most popular e-commerce platforms Amazon, and Flipkart.

Company NameRecode Studio Pvt ltd
FounderDheeraj Bansal and Rahul Sachdeva
BusinessIndia cosmetic brand and marketplace
Asked For₹1 Crores for 1% equity
Final DealNo Deals
SharkNo Sharks
Episode (Shark Tank India)S2 E1
Air DateJan 2, 2023
Business StatusIn Business
WebsiteVisit Now
HeadquartersLudhiana, Punjab, India
Go To AmazonBuy Now

 Another Shark Tank Pitch

Who Is The Founder Of Recode Studio?

Dheeraj Bansal and Rahul Sachdeva are the co-founders of Recode Studio. Both of them come from different backgrounds, and Dheeraj handles the management of this company.

Rahul is a B.Com student and has done his marketing studies at Xavier’s High School. He mainly handles the research and marketing part of the company.

How Was The Shark Tank India Pitch Of Recode Studio?

Dheeraj and Rahul both entered Shark Tank India and demanded ₹1 crore for 1% equity from the shark. They explained their product to Shark and told how they started this business.

This brand’s products are available in 250 shops pan India and on its website & app. They have opened 3 franchises in Faridabad, Delhi and Raipur.

In 2021, they launched their cosmetic marketplace place, and apart from their brand, 60+ other brands are available in that marketplace.

Aman Gupta said that he had seen the product of the Recode brand and he did not like the packaging of this brand.

Namita Thapar said that she does not invest in her friend’s competitor, then she is out. The total sales for the financial year 2021-22 was ₹15 crores. Has done ₹11.5 crores sales till January of the financial year 2022-2023.

The brand has 236k+ followers on its social media handle Instagram. Last year their profit after tax was 6% with approx ₹65 lakhs. By the end of 2023, they will have annual sales of ₹30 crores.

Aman Gupta said that he cannot invest in his friend’s competitor then he is out. Peyush Bansal said that he cannot add value to the ecosystem of this brand, so he is out.

Vineeta Singh said that she is already doing this business, so she will not be able to partner with Recode, then she is out. 50% of their revenue comes from the marketplace.

The founder said that they did the marketplace out of compulsion, Due to the COVID-19 pandemic, their business is going to be completely closed and running at a loss. They started selling expired products in flash sales for Rs 1. Anupam Mittal said that he is out due to valuation and chemistry.

Finalize: Recode Studios didn’t get the deal on Shark Tank India.

Recode Studios Shark Tank India Update

Recode Studios didn’t get the deal on Shark Tank. But the sharks were completely impressed after listening to the annual sales and business strategy of the company.

Peyush and Aman said that they will use this strategy in their business. Dheeraj and Rahul gave a very good pitch in the shark tank and they were successful in impressing the sharks.

After Shark Tank India, this brand has launched a mega loot sale on its market place and this sale is up to 75% discount.

The reason given by Aman and Namita for not investing in this cosmetic brand was not considered a valid reason by the viewers of Shark Tank India.

The founder said that they are expecting to do annual sales of ₹30 crores by the end of 2023. At present, this company is running in profit and the profit margin is 6%.

Recode Studios did not get investment in Shark Tank India but after Shark Tank, many people were surprised by the sales of this company on social media.

In 2022, the annual sales of this company was ₹11.5 crores. From 2021 to January 2023, this company has made a total revenue of ₹26.5 crores.

We’re following Dheeraj Bansal and Rahul Sachdeva along with their company for further updates.

What Is Recode Net Worth?

Recode Net Worth is estimated at Rs 75 crore.

The estimated market size of India’s cosmetic industry in 2023 is $6.27 billion and this industry is growing continuously.

This company only provides premium quality products at the lowest prices. This brand’s product price matches a middle-class family’s affordable.

Yes, Recode Studio is still in business as of April 2024.

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