The latest episode of Shark Tank India saw fireworks as Vineeta Singh confronted the founders of Palmonas, a demi-fine jewellery brand co-owned by Shraddha Kapoor, over their ‘lifetime warranty’ claims.
Shraddha Kapoor’s jewellery brand Palmonas faced heat on Shark Tank India as Vineeta Singh called their ‘lifetime warranty’ claim misleading.
The latest episode of Shark Tank India saw intense debates when Vineeta Singh confronted the founders of Palmonas, a demi-fine jewellery brand co-owned by Shraddha Kapoor, over their controversial warranty claims. The pitch came from husband-wife duo Pallavi and Amol, who sought ₹1.26 crore for 1% equity, pegging their company’s valuation at a whopping ₹126 crore.
Pallavi and Amol confidently explained that Palmonas offers premium plating, superior to traditional artificial jewellery, while being skin-friendly. However, the conversation took an unexpected turn when Vineeta raised eyebrows at their ‘lifetime warranty’ promise. Meanwhile, Aman Gupta couldn’t hide his admiration for Namita Thapar’s negotiation tactics as she crafted an offer that aligned with the founders’ valuation.
The founders revealed that Palmonas was on track to achieve ₹35 crore in revenue this year and had already secured ₹6 crore in angel funding at the same ₹126 crore valuation. When it was time for offers, Aman Gupta voiced skepticism about the valuation and countered with a significantly lower ₹20 crore offer. In contrast, Namita Thapar matched the founders’ valuation but introduced a 1% royalty clause. Pallavi promptly rejected the royalty, but Namita defended her terms, asserting that her expertise justified the additional cost.
The pitch reached its boiling point when Kunal Bahl scrutinized Palmonas’ ‘lifetime warranty’ policy, uncovering that it wasn’t as comprehensive as advertised. Instead of full replacements or refunds, customers would receive store credit equivalent to a percentage of the order value after a certain period. This revelation shocked Vineeta, prompting her to call out the misleading practice. “This isn’t a lifetime warranty. Jab customers ko pata chalega ke lifetime warranty ke naam pe unhe thugga gaya hai, toh brand pe impact hoga?” she remarked, highlighting that offering ₹400 in store credit for a ₹3,000 product hardly benefited the customer.
Ultimately, the founders walked away without a deal, with the sharks emphasizing that while the brand had potential, trust and transparency were non-negotiable when it came to building long-term consumer loyalty.
