2/9/2025
In Episode 21 of Shark Tank India Season 4, we witnessed an inspiring pitch from Ruby’s Organic, a pioneering clean beauty brand in India. The founder, Ruben Karachiwalla, entered the tank with a mission to revolutionize the makeup industry by offering cosmetics made from plant-based and mineral-derived ingredients.
With a growing awareness of skin sensitivity, 36.7% of Indian women struggle to find safe cosmetic products. Ruby’s Organic aims to bridge this gap by providing makeup that is free from fossil fuel-derived pigments and instead uses natural alternatives like vegetable fibers.
Ruby’s Organic is one of India’s first D2C brands to pioneer the clean beauty category, offering safe, organic, and high-performance makeup products.
| Financial Year | Revenue (in ₹ Crores) |
|---|---|
| 2021-2022 | 2.2 Cr |
| 2022-2023 | 3.2 Cr |
| 2023-2024 | 4.5 Cr |
| 2024-2025 (Till Oct) | 3.87 Cr |
| 2024-2025 (Projected) | 7.5 Cr |
Ruby’s Organic was profitable from 2017 to 2022 but saw losses post-2022 after raising capital and expanding operations.
❌ Vineeta Singh: Out, stating the market is too small and suggested getting organic certification.
❌ Namita Thapar: Out for similar reasons.
❌ Aman Gupta: Out, advising the founder to scale faster before more competitors enter the market.
❌ Ritesh Agarwal: Out of deal.
✅ Kunal Bahl: Liked the product and initially offered ₹1 Cr for 10% equity, later closing at 5% equity + 3% advisory equity.
Ruby’s Organic has successfully carved a niche in the clean beauty industry by providing safe and natural cosmetics. While the company is currently running at a loss due to expansion and hiring, its future looks promising with a projected revenue of ₹7.5 Cr for FY 2024-25.
With the backing of Kunal Bahl, the brand now has an opportunity to scale its presence and solidify its leadership in the clean beauty market.