Shark Tank India Season 4 has already made waves with its dramatic pitches, bold valuations, and unforgettable moments. One standout incident that has taken the internet by storm is when Devansh Jain, co-founder of Culture Circle, appeared on the show wearing sneakers worth a whopping ₹10 lakh.
His choice of footwear not only turned heads but also fuelled heated discussions about luxury, business, and entrepreneurship.
Devansh (26) and Ackshay Jain (27), IIM Ahmedabad graduates, introduced Culture Circle, a platform dedicated to reselling luxury and designer apparel, shoes, bags, and accessories. With an audacious valuation of ₹240 crore, they sought ₹1.2 crore for just 0.5% equity. This ambitious ask was complemented—or overshadowed—by Devansh’s eye-catching Dior Air Jordan sneakers, which quickly became the focal point of the pitch.
Shark Aman Gupta, co-founder of boAt, couldn’t help but comment on the pricey kicks. “The shoes that Devansh is wearing are worth ₹10 lakh,” he announced, leaving fellow Sharks stunned. Namita Thapar exclaimed, “What?” while Kunal Bahl humorously added, “Even if I combine the price of all my shoes, it won’t be ₹10 lakh.”
Devansh revealed that the sneakers were Dior Air Jordans, which retailed ₹10 lakh in the luxury marketplace. He quickly plugged Culture Circle’s competitive pricing, quipping, “On Culture Circle, you can get them at ₹6.5 lakh.” The comment sparked laughter among the investors but also demonstrated the company’s unique value proposition.
Despite the levity, the valuation left some Sharks unimpressed. Vineeta Singh, co-founder of Sugar Cosmetics, criticised the proposal as “waahiyaat” (outrageous) and accused the entrepreneurs of using Shark Tank India to gain free publicity for a business that already had ₹17 crores in bank reserves. Singh ultimately declined to invest, sparking a bidding war among the other Sharks.
In the end, Kunal Bahl and Ritesh Agarwal joined forces, offering a combined ₹3 crore for 3% equity. This reduced the startup’s valuation to ₹100 crore, a far cry from the founders’ initial pitch but still a substantial endorsement.
