NOOE Breaks Records on Shark Tank India S4 with ₹5 Crore Deal
- ByStartupStory | January 10, 2025
The Japandi-inspired brand NOOE has made headlines on Shark Tank India Season 4 by clinching a record-breaking ₹5 crore deal with Peyush Bansal, despite a challenging pitch. Known for its high-end products that blend Japanese minimalism and Scandinavian functionality, NOOE caught the attention of all five sharks, including Anupam Mittal, Vineeta Singh, Aman Gupta, Kunal Bahl, and Peyush Bansal.
The founders of NOOE entered the tank seeking ₹50 lakh for 1% equity at a valuation of ₹50 crore. Highlighting their presence at the iconic British retail store Harrod’s, the founders aimed to showcase the brand’s international appeal. However, the pitch stumbled when the founders revealed that high shipping costs to the UK wiped out their margins, making the Harrod’s deal more about prestige than profit.
Financial concerns mounted as the sharks learned that NOOE had only ₹22 lakh in the bank and debts exceeding ₹1.2 crore. Despite these setbacks, the sharks were impressed by the brand’s design and quality, though its sustainability remained a concern.
Anupam Mittal expressed shock when co-founder Piyush Suri disclosed that a product priced at ₹15,000 in India was sold for ₹40,000 at Harrod’s. Aman Gupta didn’t hold back, stating, “Suri’s lack of business acumen had held NOOE back from reaching its full potential.”
Three sharks—Bahl, Singh, and Mittal—bowed out, citing the need for a comprehensive business overhaul. Gupta made an aggressive offer of ₹3 crore for 50% equity, suggesting a complete restructuring of the company.
Peyush Bansal countered with an offer of ₹3 crore for a controlling 51% stake, admitting, “I hadn’t fully thought it through, but I’m willing to take a chance on the brand.”
Initially hesitant to relinquish control, the founders rejected offers that reduced them to employees in their own company. Gupta eventually withdrew his offer after revising it to ₹2 crore for 30% equity. This led to a pivotal moment when co-founder Nitika Pandey encouraged Suri to make a bold counteroffer: ₹5 crore for a controlling stake in the company.
Peyush Bansal accepted the counteroffer, securing the deal and breaking records on the show. As Gupta expressed disbelief at the outcome, Peyush reassured the founders, emphasizing their potential. In a dramatic closing, Peyush remarked to Pandey, “If you ever need a job, you can always come to me.”
Reflecting on the experience, Piyush Suri shared, “My biggest learning from the Shark Tank India experience has been watching how the team behind the show operates. That entire machinery is a masterclass in running a creative production at scale. As a consumer brand founder and a creative entrepreneur, it was incredible to see how they think about every detail—the narrative, the granularity, and how they produce something that millions of people love. Being part of that process was an immense learning experience for me.”
NOOE’s journey on Shark Tank India showcased the importance of resilience, adaptability, and bold decision-making. The record-breaking deal not only highlights the potential of the Japandi-inspired brand but also marks a turning point in its journey toward global recognition.
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