“Being on Shark Tank India again was a very emotional moment for me” – Offmint founder Ashutosh Roy

Ashutosh Roy has the distinction of being that one pitcher who appeared on Shark Tank India twice. Ashutosh first made an appearance on the second season of the show in 2022. In Shark Tank India 4, he faced the Sharks again, this time to put forward a pitch for his brand, Offmint.

Designed as a fast-fashion brand, Offmint specializes in offering clothing items that are stylish and affordable at the same time. The official website of the brand offers one a wide of products to choose from including jackets, dresses, t-shirts, cord sets and bracelets. The offerings by Offmint cater to youngsters who wish to up their fashion game while sticking to a stipulated budget.

You are the only pitcher to have appeared on Shark Tank India twice. That itself makes your journey unique and different from others. How was your experience of being on the show this time around?

Being on Shark Tank India again was a very emotional moment for me. I got flashbacks of the things which had happened the last time. I was as nervous as I was the last time I was on the show. I feel privileged about the fact that I am the only pitcher to have got the opportunity to be on the show twice. This time, of course, I was representing another brand. The experience, therefore, was different.

A lot has happened since you first appeared on the show. You suffered from a major personal loss. You launched a new brand in the form of Offmint. How have the last few years been for you?

The last few years have been like a roller-coaster ride for me. When I came to represent another brand in the second season of the show, I was not very serious about my career. I was younger and not thinking much about my future then. The day the episode was going to be aired, I lost my dad in a train accident. That incident compelled me to introspect and figure out what I will do in life next. I had many responsibilities to shoulder and was not sure how I would go about things. Luckily, I met Rani Ahluwalia from London during this phase. She called me after watching the episode of Shark Tank India in which I was featured. She came to India to meet me. Soon, things started moving and I launched Offmint. After appearing on Shark Tank India 2, I got offers from several companies. Many investors, too, reached out and asked if I would want to build something new. I wanted to work with somebody who would have the same wavelength as me. Rani and I had similar ideas and that is why we decided to work together. Rani wanted to start something in the Indian market. That is how Offmint happened.   

What are some of the challenges you faced while building this brand?

It is a very competitive market to enter. Rani and I mutually decided to do something in fast-fashion which would be sustainable. As a fast-fashion brand, you can’t be 100% sustainable. We thought of replenishing goods as one of the options. Through responsible sourcing and eco-friendly packaging, we have remained focused on sustainability. Since I had prior experience of creating a brand, I did not face the kind of challenges a new entrepreneur faces. I had to do the same thing again. However, when you start a new business, you face a fresh set of challenges every day.

On the show, your ask was Rs. 10 for 10% equity. What kind of mindset or objective you had as a pitcher?

My objective was getting guidance and expertise from the Sharks. Rani had already invested in the brand. We had the money but not the kind of experience which the Sharks had. Instead of asking for money, I asked them for expertise. I was expecting one or two Sharks to come on board. However, I ended up getting an All-Sharks deal. Together, I believe, we can ensure exponential growth for the company.

Anupam gave you a very good compliment on the show. He said that people like you have made this stage much bigger and better. He stated that you added a lot of value to Shark Tank India. You managed to get an All-Shark deal. How do you plan to take the brand forward now?

Wherever I am right now in life, it’s because of the guidance I got from the Sharks on Shark Tank India 2. I implemented the guidance and feedback I received with the help of Rani while building Offmint. We are now planning to step into the retail sector. We also have plans to explore quick commerce and expand our business overseas. We are already available on premium marketplaces and have one physical retail store in Delhi. We want to open more retail outlets and have an overseas franchisee also. Rani has lived in the UK for more than four decades and understands that market very well. She has hotels and properties where we can open our outlets.

You are from Samastipur, a small city in Bihar. Does Bihar has a good start-up ecosystem today?

At the moment, Bihar does not really have a robust start-up culture. It takes time for a community to build something. As far as the start-up culture is concerned, Bihar is getting better. It will take a while for it to reach the kind of level at which the start-up ecosystem exists in the megacities. The government is supporting start-ups. Right now, we are running Offmint from Noida.