Karan and Advita’s pitch for their exclusive concierge service catering to high-net-worth individuals.
- Pitch: Indulge is a digital concierge service for high-net-worth individuals (HNIs) and ultra-HNIs, offering personalized assistance for travel, dining, shopping, and special requests via WhatsApp.
- Ask: ₹50 lakhs for 1% equity (valuation: ₹50 crore).
- Background: Karan, a college dropout, started a luxury magazine before pivoting to concierge services. Advita, from a Marwari family, joined him to build the business.
- Financials:
- Revenue: ₹2.2 crore in 7 months, with a profit margin of 30%.
- Subscription model: ₹4 lakhs/year or ₹40,000/month.
- Outcome: No deal. The Sharks were concerned about scalability, transparency, and the high valuation. They also questioned the retention rate and the business model’s sustainability.
Karan and Advita (Indulge)
- Background:
- Karan is a college dropout who started a luxury magazine before pivoting to concierge services.
- Advita comes from a traditional Marwari family and joined Karan to build Indulge, a digital concierge service for high-net-worth individuals (HNIs).
- Together, they created a WhatsApp-first platform that offers personalized assistance for travel, dining, shopping, and special requests.
- Business:
- Indulge caters to ultra-HNIs, offering services like private jet bookings, luxury shopping, and unique experiences.
- The company operates on a subscription model, charging ₹4 lakhs/year or ₹40,000/month.
- Indulge has served over 25,000 requests and has 183 active clients.
- Key Achievements:
- Built a niche service for ultra-HNIs, focusing on exclusivity and personalized attention.
- Expanded operations to Dubai and Singapore, with plans to grow further.
- Despite challenges, they have maintained a loyal client base and continue to innovate in the luxury concierge space.
Q1: What is Indulge?
Indulge is a digital concierge service for high-net-worth individuals (HNIs) and ultra-HNIs, offering personalized assistance for travel, dining, shopping, and special requests.
Q2: How does Indulge work?
Indulge operates as a WhatsApp-first platform, where clients can message their requests, and the team handles everything from travel bookings to luxury shopping.
Q3: What is Indulge’s subscription model?
Indulge offers two subscription plans:
- ₹4 lakhs/year
- ₹40,000/month
Q4: Did Indulge get a deal on Shark Tank?
No, Indulge did not secure a deal. The Sharks were concerned about scalability, transparency, and the high valuation.
Q5: Who is Indulge’s target audience?
Indulge caters to ultra-high-net-worth individuals (UHNIs) who value exclusivity, personalized service, and convenience.
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