New Delhi: Entrepreneur Jeevika Tyagi, co-founder and CEO of the athleisure (sports and leisure apparel) firm Aastey, has retaliated against Namita Thapar, a judge on Shark Tank India season three, over her comments regarding the brand's marketing expenditures on the most recent episode of the show.
Jeevika on Namita Thapar
Jeevika made an appearance alongside her co-founder Kanupriya Mundhra in an episode of Shark Tank India. Vineeta Singh criticised the pair during the programme, claiming that businesses that "easily" secure finance lacked "financial discipline." The two founders told the judges their bank balance is nil when they inquired about it. According to Aman Gupta, “To hum invest kisme kar rahe hai? Business kaha hai? Maal bhi bikk nahi raha (So, where will we invest, where there is no business? Your products are not even selling)”. Vineeta had continued, saying, "Ye jo financial indiscipline aapne dikhaya hai, that is confusing me (I'm confused by the financial indiscipline you've demonstrated)."
A snippet of the programme that Jeevika shared starts with Namita Thapar saying, “You took Rs 10 cr from the investors and spent the amount primarily on marketing? I am out.”
Jeevika went on to argue that the episode's selective editing was dishonest because it gave the start-up a different impression.
“Even though the episode is called ‘Celebrating Entrepreneurial breakthroughs’, the theme poster reads, ‘Is this financial indiscipline?’ I think Namita this is a very big ‘financial indiscipline’ that you could not understand a simple thing. If everyone is discussing about our inventory, why we are not selling our inventory– where did that come from?”
“We spent the entire Rs 10 cr on marketing? Where did the money for our inventory come, where is the inventory stored, where is the money for the team, business operations– the entire part and its breakdown was edited out by Sony, what about that? I will keep giving you insights like these,” she said in the video.
Jeevika's Shark Tank experience
Jeevika wrote a lengthy article a few days ago about her experience on Shark Tank India. She stated that she spent two hours filming the programme but was unaware that it would be "packaged into just a 10 minute episode."
“Standing strong in front of the camera with my most vulnerable self. A new mom, a business, a flight that I had to take from Delhi because of some major family emergency leaving my kid behind. Not once, was I asked about me but was indirectly pushed to bring out my baggage. 🧳 I was pushed to give back, say something or at least shed a tear. Honestly, it was humiliating. I did shed tears deep inside. But in that moment, I was clear. This is not me.”
“Bringing some drama so they choose to air us, is not me! We have nurtured and given everything too- including our personal finances, family commitments with pure hard work & honesty. I just didn’t want to use a PR machinery to talk about my family struggles. Anyways, that’s a personal choice. So just answering a very simple question. How was our ‘Shark Tank’ experience? Oh it was magical for the brand #aastey. 🤩🫰🏻 How was my personal experience? 😶 A choice all good #entrepreneurs know they don’t have! The brand & you become the same people, as you live it, day in & out. So I have no words to express my experience,” Jeevika’s long post read.