Karibo Cosmetics founders gave their appearance on the Shark Tank Season 3 as a customized Lipstick brand. It gave different shades and lipstick customization to their customers where they get a chance to create their own lipstick. Everyone is curiously looking for the Karibo Cosmetics shark tank journey and their pitch. They gave an appearance on Shark Tank with full enthusiasm. The best thing was their confidence. Even though they didn’t get any funding, they took it positively. Their approach seems to be a learning approach. Let us continue with Karibo Cosmetics Founders’ success story below.

Who Are Karibo Cosmetics Founders? Bhakti Bhanushali And Jasmin S Shah Age, Career, Education, Achievement, And Shark Tank Journey:

Karibo Cosmetics founders Bhakti Bhanushali and Jasmin S Shah reside in Mumbai, Maharashtra. They started Karibo while they were working on a company’s growth strategy.  Bhakti and Jasmin get the idea to start their own customized lipstick brand. If we talk about their education, Jasmin S  Shah was a student of Bachelor of Corporate Communications. She completed her post-graduation from Florida International University. Bhakti and Jasmin claim to be 25 years old.

Jasmin started working as a Project Manager Interm at Tata Projects for four months. Later, she shifts to another internship with Shorelight Education. During these internships, she learned about project building and business development. Her only full-time job was with Evoguemedia which she continued for 1 year.

While on the other hand, Bhakti Bhanushali completed his graduation from Mumbai University in 2019. She joined an internship at Hustle Media House as a Marketing Executive Intern. Later, she got a job at Evoguemedia as a Social Media Manager. The journey to Karibo Cosmetics started in Oct 2020. It’s been almost 3.5 successful years for the company.

Karibo Cosmetics Founder Success Journey:

Karibo Cosmetics Founder started their successful journey with Karibo Cosmetics products. It deals in customized vegan, kids-friendly, cruelty-free, and dermatological-tested lipstick in the country. Karibo Cosmetics gets its most sales from corporate events, weddings, kitty parties, bachelorettes, and others. Karibo has 12 mixologists to make the perfect shade you desire in your lipstick. Apart from that, around Rs. 45,000 per event cost takes place during the season, which also makes their 60% sales.

Karibo cosmetics revenue for the company is as follows:

2022-23 Rs. 80 Lakhs
2023-24 Rs. 1.65 Crores (projected)

Karibo Cosmetics made around Rs. 64 Lakhs by September 2023, this year. Let us look at their shark tank journey as well.

Karibo Cosmetics Shark Tank Journey:

Karibo Cosmetics Shark Tank’s journey has been amazing. Starting from a confident pitch, they represent Karibo Cosmetics very well. The company sees a rise in its revenue. Thus, the company is profitable. Karibo Cosmetics asked for Rs. 80 Lakhs for 5% equity at a valuation of Rs. 16 crores. However, they did not get any deal with sharks. Shark Aman gets out at first. He claims that the business is yet away from being on the right path. It’s more on the passion side of the founders. Later, Shark Radhika and Peeyush went out of the deal as well. They mention that the company needs to have its registration first.

Apart from that, Shark Peeyush also advised them regarding their business. Shark Ritesh proposes them for their registration processes but gets out of the deal. Later, Shark Vineeta also gets out of the deal. Thus, the company remains unable to get a deal. However, they appeared impressive to the sharks. They are also available on Instagram as @kariboforyou. Keep reading with Charcha Times for more.