In a recent episode of Shark Tank India Season 4, Vinish Arya and his daughter Angel Arya, the founders of the family-operated brand Go Devil, pitched their garment business to the investors, seeking Rs 80 lakh in exchange for a 2% equity stake. With a brand valuation of Rs 40 crore, their journey since launching in 2022 has been filled with both triumphs and struggles.
Vinish, who has been in the garment and leather goods industry since 1998, shared the hurdles he’s faced over the years, from the fallout of the 2008 global recession to the challenges posed by the 2020 pandemic. Reflecting on his experiences, he remarked, “Life mein hi up down chala hai” (Life has been full of ups and downs). His frankness about his journey resonated with the sharks, especially when Peyush Bansal acknowledged Vinish’s sharp design acumen.
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When it came to financials, Vinish presented the growth of Go Devil, noting they had earned Rs 1.44 crore in their first year, Rs 2.45 crore in the second, and Rs 2.75 crore in just the first half of the current year, with a projected Rs 8 crore for the year’s end. Although these numbers showed promise, the sharks were skeptical about the brand’s unit economics and questioned the sustainability of the business practices, suggesting that the figures didn’t reveal the complete picture.
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The emotional weight of the pitch became evident when Vinish disclosed that he had sold his house and invested Rs 2.5 crore into the business. To keep things running, he had also borrowed Rs 3 crore from friends. This raised alarm among the investors, with Anupam Mittal expressing his concern, calling the risk “dangerous” and cautioning Vinish against taking such a precarious financial route.
