Intense Focus Update | Shark Tank India Season 03
The eyewear industry in India has a huge market size of about ₹30,000 crores, and 80% of this industry is still unorganized. Beyond the market size, the gross margin of eyewear products is about 70 to 75%.
Intense Focus is a brand that is looking to grab this opportunity and establish itself as a big player in the eyewear industry.
The founder of Intense Focus pitched in Shark Tank India (Season 03) with an ask of ₹5 crores for 5% equity. Will any sharks find this business investible? Find out in the Intense Focus Shark Tank update!
If you’re in a hurry and don’t have time to read the whole story, here’s a brief overview of what happened to Intense Focus after Shark Tank.
Manish Chauhan pitched on Shark Tank India with an ask of ₹5 crores for 5% equity in Intense Focus. Unfortunately, no sharks invested in their business, and Manish had to return without a deal. However, his brand has been featured in Yahoo and BNN Breaking.
Many youngster watches Shark Tank India and his brand got a lot of audience after airing this episode on SonyLiv. We hope that Intense Focus sales have been boosted and Manish will mold this opportunity in the right direction.
| Company Name | Intense Focus |
|---|---|
| Founders | Manish Ashokbhai Chauhan |
| Founded | 2006 |
| Products | Stylish eyewear |
| Ask | ₹5 crores for 5% equity |
| Deal | No deal |
| Sharks | No shark |
About Company
Manish Ashokbhai Chauhan is the founder of Intense Focus. It is active since 2006. They make design-focused eyewear for kids, adults, and youth.
Intense Focus provides a B2B product manufacturing service throughout India. They have a network of 17+ distributors and 3,000 retail outlets in more than 20+ states.
As expected, Intense Focus’s target is to occupy a huge chunk of the 80% unorganized eyewear sector. And they also have motivations to become a global eyewear brand.
To achieve this dream, Intense Focus needs a lot of investments and also expertise, which is why the brand reached out to experienced judges of Shark Tank.
Intense Focus Shark Tank India Pitch
The founder started the pitch with an ask of about ₹5 crores for 5% equity at a valuation of ₹100 crores. This is one of the biggest asks in this season of Shark Tank India.
Peyush: I liked your pitch. Tell us more about your vision and idea behind Intense Focus.
Founder: I am good at designing eyewear, and this is how I got the idea of starting a brand around my own designs. I want to scale my brand to the top like Luxottica did globally.
Peyush then asked about the current business of Intense Focus.
The founder said that they have currently invested about ₹5 crore in the brand. This year, their lifetime revenue will reach about ₹33 crores.
Intense Focus’s 2023 revenue was about ₹15 crore. Meanwhile, in 2022, they did sales worth ₹8.25 crores. They have a gross margin of about 60%.
Azhar: So, while we are talking about numbers, I want to ask about your profits.
The founder smiled and said that Intense Focus has an EBITDA of about 30%, and they are going to make a profit of about ₹5 crores this year. The sharks were impressed by this.
The sharks then tried Intense Focus’s glasses and had a positive opinion of it. Peyush liked the design sensibility and packaging.
Amit: What do these glasses cost? Tell me the rate.
The founder said that the glasses that Amit is testing cost ₹3,700 and ₹3,200, respectively.
Amit: The price seems extremely high. I have seen similar glasses on Lensekart at cheaper prices.
Founder: No, there is a difference in quality.
Peyush found it funny as the founder openly admitted that his product is better than the ones on Lenskart.
Peyush then explained to other sharks that these glasses actually don’t have a fixed price. There is a huge chain of distributors and retail stores involved who also have to make profits.
So, even if the manufacturing cost of the glasses is only ₹600 to ₹700, the buyers have to pay more due to the presence of so many middle players.
Namita: Okay, tell me what’s your USP then?
Founder: Our USP is designing and only designing.
Namita said that she still cannot see any uniqueness in Intense Focus’s designs. She went out of the deal as ₹5 crore for 5% was above her expertise.
Peyush: Also, there is a huge problem in your business as you are still doing wholesale, which requires a lot of working capital. So, there is a huge credit risk involved in your business.
The founder disagreed and explained that they are already doing collaborations with big brands like Levi’s, where they will design and manufacture products directly for Levi’s. This has a huge scalability potential.
Azhar wasn’t convinced by this. He also went out of the deal.
Azhar: I noticed that when Namita talked about your product’s designs you didn’t look receptive to it. I also noticed that when Peyush sir commented on your business, you, as a founder, still looked lenient.
Azhar said that he cannot add any value to Intense Focus as the founder is already sure about his views. And, this is the reason he would not be able to invest in Intense Focus.
Anupam: This category is exciting indeed. But, there are problems with your working capital. You should look for a new sustainable working capital. Also, your company’s structure is in a mess. So I won’t be able to join you. I am out.
Amit also went out of the deal. The deal wasn’t exciting enough to go after. However, he said that the people should be inspired by the Founder’s journey.
Peyush: I had thought that you would get investment today, but first, you will need to mold your ways. You should become more self-aware. Today, I will not be able to invest because I don’t think you are ready to work with someone.
Finally, all the sharks went out, and Intense Focus didn’t receive any deal in Shark Tank India.
More from Shark Tank India (Season 03):
Final Words
Shark Tank India is a strange platform where even brands losing money can get funds; meanwhile, highly profitable brands can return without a deal. Intense Focus got no deal on Shark Tank because judges noticed the founder’s behavior was a bit rude.
