Shraddha Kapoor’s Jewelry Brand Accused of Misleading Customers—Shark Tank India Reacts!

In a recent episode of Shark Tank India Season 4, Palmonas, a demi-fine jewelry brand co-founded by Bollywood actress Shraddha Kapoor, sought investment to expand its operations. The pitch, however, led to intense discussions among the sharks, particularly concerning the company’s warranty policies.

The Pitch and Investment Details

Founders Pallavi Mohadikar and Dr. Amol Patwari presented Palmonas to the sharks, seeking an investment of ₹1.26 crore for a 1% equity stake, valuing the company at ₹126 crore. Despite initial concerns, sharks Namita Thapar and Ritesh Agarwal decided to invest, aiming to support the brand’s growth in the demi-fine jewelry market. Notably, Shraddha Kapoor holds a 26% equity stake in Palmonas.

Controversy Over Warranty Policies

During the pitch, shark Vineeta Singh scrutinized Palmonas’ “lifetime warranty” claim. Upon investigation, it was revealed that the warranty offered was not a full replacement or refund but rather a percentage of the order cost as store credit after a certain period. Vineeta expressed concern, stating that such a policy could mislead customers and potentially harm the brand’s reputation.

Shraddha Kapoor’s Involvement in Palmonas

The sharks were curious about Shraddha Kapoor’s role in the company, especially given her absence during the pitch. The founders explained that Shraddha discovered Palmonas organically through social media, purchased multiple items, and later joined as a co-founder. Her absence was attributed to pitching not being within her comfort zone.

Conclusion

Palmonas’ appearance on Shark Tank India has brought attention to the importance of transparent business practices, especially concerning customer warranties. As the brand moves forward with new investments and celebrity backing, addressing these concerns will be crucial to building and maintaining customer trust in the competitive jewelry market.