Shraddha Kapoor’s jewellery brand Palmonas recently featured on Shark Tank India Season 4. Co-founders Pallavi Mohadikar and Amol Patwari pitched their D2C jewellery business, seeking ₹1.26 Cr for 1% equity. While the sharks praised the products, Vineeta Singh criticized the brand for what she felt was a misleading “lifetime warranty” offer.
How Shraddha Joined
Pallavi shared that Shraddha Kapoor organically became a fan of Palmonas before becoming an investor. She noticed Shraddha wearing their jewellery on Instagram and found that someone named “S Kapoor” had placed several orders. After a fan pointed out the jewellery, Shraddha replied saying she had bought more because she loved it. The founders created a reel hoping to catch her attention — and it did. Pallavi, while 8.5 months pregnant, met Shraddha in Mumbai, and the partnership came to life. Shraddha now owns a 21% stake in the brand.
Shark Offers & Concerns
The sharks were impressed with the design and quality, likening it to gold jewellery. The brand projected ₹35 Cr in revenue for the year. Namita Thapar offered ₹1.26 Cr for 1% equity with a 1% royalty on sales until recovery.
However, Kunal Bahl raised concerns over the “lifetime warranty.” The founders explained that customers could return products within:
- 6 months for 50% of the order value,
- 6–12 months for 25%, and
- after a year, receive 15% as store credit for life.
Kunal pointed out this was not a true lifetime warranty. Vineeta Singh was more direct, saying such a policy could damage customer trust. She argued that a ₹450 voucher on a ₹3,000 purchase felt misleading, especially since there was little or nothing in-store at that price point.
Vineeta opted out, while Aman Gupta countered with a ₹20 Cr valuation. Eventually, Namita Thapar and Ritesh Agarwal jointly offered ₹1.26 Cr for 1% equity with a reduced 0.5% royalty, which the founders accepted.
