Adil Qadri, a luxury perfume entrepreneur from Gujarat, impressed the Sharks with his pitch for his brand of attars, which are natural fragrances derived from flowers, herbs, and spices. Despite having a debt of Rs 6 crore and dropping out of school in sixth grade due to asthma, Adil managed to secure a deal with Vineeta Singh, the CEO of Sugar Cosmetics, for Rs 1 crore with 1% equity and 1% royalty.
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What is Adil Qadri Perfumes & Attar?
Adil Qadri Perfumes & Attar is a brand that offers long-lasting attars with premium packaging that appeal to the younger generation. Adil started his business in 2019 with an initial investment of Rs 5 lakh and a team of four people. He claims to have processed 10 lakh orders, with an average of 3,000 per day, and to have a projected revenue of Rs 80-90 crore by the end of FY 2024.
Adil’s attars are made from natural ingredients and are free from alcohol, chemicals, and animal products. He sources his raw materials from various places, such as Kannauj in Uttar Pradesh, which is known as the perfume capital of India. He also has a range of products, such as perfumes, body mists, deodorants, and beard oils, that cater to different customer segments and preferences.
Why did Vineeta Singh invest in Adil Qadri Perfumes & Attar?
Vineeta Singh, who is also the co-founder of FabBag, a beauty subscription service, was impressed by Adil’s passion, vision, and growth potential. She saw an opportunity to tap into the niche market of attars, which is estimated to be worth Rs 2,000 crore in India. She also appreciated Adil’s innovative approach to branding and marketing, which included creating viral videos on social media, collaborating with influencers, and offering personalized customer service.
Vineeta offered Adil Rs 1 crore for 1% equity, along with 1% royalty until the investment amount is recovered. She also suggested some strategies to reduce Adil’s debt, such as renegotiating with his suppliers, optimizing his inventory, and increasing his margins. Adil accepted Vineeta’s offer, making it one of the biggest deals on Shark Tank India 3.
What are the challenges and opportunities for Adil Qadri Perfumes & Attar?
Adil Qadri Perfumes & Attar faces some challenges, such as competing with established brands in the perfume industry, maintaining the quality and consistency of his products, and managing his cash flow and debt. He also needs to expand his distribution network, scale up his production capacity, and diversify his product portfolio.
However, Adil also has some opportunities, such as leveraging Vineeta’s expertise and network in the beauty and cosmetics sector, exploring new markets and customer segments, and creating a loyal and engaged fan base. He also has a unique selling proposition, which is offering natural and affordable attars that resonate with the Indian culture and heritage.
What is the future of Adil Qadri Perfumes & Attar?
Adil Qadri Perfumes & Attar has a bright future, as it has shown remarkable growth and innovation in a competitive and crowded industry. Adil has proven himself to be a resilient and resourceful entrepreneur, who has overcome many challenges and obstacles. With Vineeta’s support and guidance, he can take his brand to the next level and achieve his vision of becoming the ‘Badshah of Attar’.
Adil Qadri Net Worth
Adil Qadri’s estimated net worth is $2 million, which is equivalent to 16.6 crores. His primary source of income is the Adilqadri perfume enterprise, but he may also have other market investments.