- Investment: £50,000
- Investor: None
- Equity Offered: 15%
- Business: Delicious - an all-natural, vegan, cruelty-free Ayurvedic-inspired skincare brand
- Target Audience: Environmentally-conscious consumers seeking natural skincare solutions
- Challenges: Sales decline during COVID-19, packaging issues, and a high view-to-sale conversion rate challenge
The Pitch:London-based entrepreneur Zara Salim presented her skincare brand, Delicious, on Dragons' Den, seeking a £50,000 investment in exchange for a 15% equity stake. Drawing from her family's Ayurvedic knowledge, Zara developed a range of body scrubs using Indian Black Tea as a key ingredient. She highlighted her business's quick growth and significant achievements, including a deal with the Hutt Group and a successful supply of 100,000 units to Glossybox. Zara aimed to use the investment to expand her product range and scale the business with the dragons' help.
Financials and Offer:Zara shared the financial journey of Delicious, noting a first-year turnover of £64,000 and a dip to £25,000 during the COVID-19 pandemic. However, the current year's figures showed promise with £45,000 in the first five months, projecting an annual turnover of £150,000 with a net profit of £66,000. Despite these numbers, Zara did not receive any offers from the dragons.
Challenges Highlighted by the Dragons:
- Packaging Issues: Peter Jones struggled with the functionality of the product's push-up packaging, raising concerns about its design and usability.
- Sales Decline During COVID-19: Stephen Bartlett and Peter Jones questioned the significant drop in sales during the pandemic, highlighting the need for resilience and adaptability in an entrepreneur.
- High View-to-Sale Conversion Rate: Despite viral TikTok videos, the dragons were skeptical about the low conversion of views to sales, suggesting potential issues with the product's market appeal or effectiveness.
- Market Competition: Deborah Meaden pointed out the saturated skincare market, expressing doubt that Delicious could stand out among numerous competitors.
Conclusion:While Zara's pitch was passionate and her business showed potential, the dragons decided not to invest. The primary concerns were the product's packaging, sales performance during the pandemic, and the overall market competition. Despite leaving the den without a deal, Zara remained optimistic about Delicious's future and committed to continuing her efforts to grow and refine her brand.