High-Quality, Natural Hair Extensions for Women | Hair Originals

Hair Originals is a startup founded by Piyush Wadhwani, Jitendra Sharma, and Ashish Tiwari, all of whom have graduated from esteemed engineering institutions in India. With a combined experience of 11 years working in 40 different countries, Piyush and Jitendra bring a wealth of knowledge and expertise to the company, while Ashish brings his engineering background from IIT Kharagpur.

AIM

The aim of Hair Originals is to manufacture high-quality, natural hair extensions made from original human hair protein. The company's founders recognized the demand for high-quality, natural-looking hair extensions in the market, and they sought to create a brand that would meet this need. Hair Originals aims to provide customers with a range of hair extensions, including Permanent Hair Extensions, Temporary Hair Extensions, and Wigs, that are made from natural, ethical sources and are affordable.

Hair Originals is committed to ethical and sustainable manufacturing practices. The company sources its raw materials from temples in India where people donate their hair, ensuring that their manufacturing process is ethical and sustainable. By doing so, Hair Originals aims to set itself apart from competitors in the hair extensions market and appeal to customers who are concerned about the ethical implications of their purchases.

Another key aim of Hair Originals is to make hair extensions accessible to more people by offering end-to-end services at 1/3rd the cost of the market price. The company's unique business model allows customers to order hair extensions directly from their website and select the city and salon where they want to set up their permanent hair extensions. By doing so, Hair Originals aims to remove barriers to entry and make it easier for customers to enjoy natural-looking hair extensions.

BUSINESS MODEL

The business model of Hair Originals is unique and innovative. The company manufactures high-quality, natural hair extensions made from original human hair protein and sends finished goods directly to end-users. Hair Originals offers three types of hair extensions, including Permanent Hair Extensions, Temporary Hair Extensions, and Wigs.

Customers can order hair extensions directly from the Hair Originals website and select the city and salon where they want to set up their permanent hair extensions. End-to-end services are provided by the company at 1/3rd the cost of the market price, making it affordable for more people to enjoy natural-looking hair extensions.

One of the key aspects of the business model is that the company sources its raw materials from temples in India where people donate their hair. This ensures that their manufacturing process is ethical and sustainable, and it also sets Hair Originals apart from competitors in the hair extensions market.

Hair Originals aims to establish its brand worldwide, and the company's unique business model makes this goal achievable. By manufacturing high-quality, natural hair extensions at an affordable price and providing end-to-end services to customers, Hair Originals aims to appeal to a wide range of customers and establish itself as a leading brand in the hair extensions market.

TARGET MARKET

The target market of Hair Originals is women who are looking for high-quality, natural hair extensions. The company's products cater to women of all ages, races, and hair types who want to enhance the length or volume of their hair. Hair extensions are particularly popular among women who are experiencing hair loss, thinning hair, or baldness due to medical conditions, chemotherapy, or alopecia.

Hair Originals aims to provide affordable hair extensions that are made from natural, ethical sources. As such, the company's target market includes women who are concerned about the ethical implications of their purchases and want to support companies that prioritize sustainable manufacturing practices.

The company's business model also appeals to women who want to set up their permanent hair extensions at home or at a salon of their choosing. This provides customers with more flexibility and convenience than traditional hair extension services, which often require customers to visit a specific salon or hairdresser.

Hair Originals' focus on affordability, ethical sourcing, and natural-looking hair extensions make it an attractive option for a wide range of women. The company aims to establish itself as a leading brand in the hair extensions market by providing high-quality products that meet the needs and preferences of its target market.

SALES AND REVENUE

Hair Originals had a valuation of 30 crores in the past. In the financial year 2021-22, the company had sales of approximately 2.50 crores. The sales in the last month were around 55 lakhs rupees, which indicates that the company is experiencing steady growth in sales.

The company sources its raw materials mainly from temples in south India, and its manufacturing units are located in Gurgaon. The gross margin for the company is around 60-65%, which suggests that the company is able to maintain a healthy profit margin on its products. The Profit After Tax (PAT) value for Hair Originals is around 7 lakhs, which indicates that the company is generating profits.

To support its growth and expansion plans, Hair Originals has raised 1 crore rupees in investment from angel investors. This investment will enable the company to invest in marketing and advertising, product development, and other key areas that will help it to establish itself as a leading brand in the hair extensions market.

FUNDING IN SHARK TANKS INDIA

Hair Originals appeared on Shark Tanks India with a pitch asking for 60 lakhs for a 2% equity stake in the company. After the initial pitch, two counter-offers were made. Aman and Vineeta offered 60 lakhs for a 6% equity stake, while Ashneer, Anupam, and Peyush jointly offered 60 lakhs for a 5% equity stake.

Vineeta Singh and Aman then jointly countered with an offer of 60 lakhs for a 4% equity stake. The Hair Originals team then asked Ashneer, Anupam, and Peyush if they would accept the counteroffer of 4% equity for 60 lakhs or not.

In the end, Ashneer, Anupam, and Peyush jointly made the final offer, agreeing to invest 60 lakhs for a 4% equity stake in Hair Originals. The deal was accepted by the Hair Originals team, and the startup secured a valuable investment to help grow and expand their business.