The latest episode of Shark Tank India saw tensions rise as the founders of Palmonas, a demi-fine jewellery brand co-owned by actress Shraddha Kapoor, faced intense scrutiny over their ‘lifetime warranty’ claim. The husband-wife duo, Pallavi and Amol, presented their business in hopes of securing Rs. 1.26 crore for 1% equity, valuing their company at Rs. 126 crore.
Warranty Claim Sparks Debate
Pallavi and Amol boasted about Palmonas’ premium plating and skin-friendly jewellery. However, the conversation turned heated when Vineeta Singh questioned the ‘lifetime warranty’ claim. She expressed concerns over the misleading nature of the warranty, suggesting it was far from the comprehensive promise it appeared to be.
The founders shared that Palmonas was on track to earn Rs. 35 crore in revenue this year and had already secured Rs. 6 crore in angel funding. Despite this, the sharks were not convinced about the valuation. Aman Gupta expressed doubt, offering only Rs. 20 crore, much lower than the proposed Rs. 126 crore. Namita Thapar, on the other hand, matched the valuation but included a 1% royalty clause. This led to a disagreement with Pallavi, who rejected the royalty offer.
Kunal Bahl Exposes Warranty Flaw
The pitch took a dramatic turn when Kunal Bahl dug deeper into Palmonas’ warranty policy, revealing that it was far less generous than advertised. Instead of offering full replacements or refunds, the policy provided store credit after a certain period, leaving customers with only a small percentage of their original purchase value. This revelation shocked Vineeta Singh, who immediately called out the misleading practice. “This isn’t a lifetime warranty. When customers realise they’ve been misled, it will damage the brand,” she remarked, criticising the offer of Rs. 400 store credit for a Rs. 3,000 product.
Despite their efforts, the founders left the show without securing any investment. The sharks agreed that while the brand had potential, the lack of transparency and trust could harm its long-term prospects.
