Candid Men

Shweta Poddar and Rishabh Poddar are Season 3's most technically credentialled fashion rental founders. Both VIT Computer Science Engineering graduates, Shweta worked as an engineer at Akamai Technologies and then as a Business Consulting and Analyst at HSBC before founding CandidMen. The tech background was not a disadvantage; it gave CandidMen the specific technology-driven operational efficiency (inventory management, booking systems, logistics optimisation) that most fashion businesses lack. The founding insight came from Shweta's own observation: men spend thousands on designer outfits they wear once (wedding sherwanis, graduation suits, corporate tuxedos) and then store in closets for years. The Indian fashion industry's "buy-to-own" model created massive wardrobe waste and economic inefficiency. CandidMen offered the alternative: rent premium designer wear at 10 to 15% of retail price, wear it for the occasion, return it, and save 85 to 90% of the cost.

CandidMen is India's most operationally sophisticated men's designer clothing rental platform, offering a complete "Rent, Wear, Return" experience where customers select premium designer outfits online or at stores, receive them with multiple size options and free instant alterations, wear them for their event, and return them without worrying about dry cleaning, ironing, or sanitisation, which CandidMen handles entirely. The sustainability positioning is CandidMen's most strategically distinctive brand message: every rental prevents a garment from being manufactured, purchased once, and discarded, directly reducing fashion waste, textile pollution, and the environmental cost of single-use luxury clothing. Rishabh's LinkedIn posts articulate this philosophy extensively: "When products are manufactured to be rented, the incentives flip. Higher quality equals longer lifespan equals higher revenue per item."

Amount Asked: ₹60 lakhs Equity Offered: 2% Implied Pre-Money Valuation: ₹30 crore

Shweta and Rishabh walked into Season 3 Episode 28 as part of Shark Tank India's second match-off episode (after the Assembly vs. Nasher Miles luggage match-off in Episode 15). CandidMen and Flyrobe pitched back-to-back in the fashion rental category, with the Sharks evaluating both brands simultaneously. The founders opened with the compelling consumer insight: men spend lakhs on designer outfits for weddings, graduations, and corporate events, wear them once, and then store them indefinitely. CandidMen converts emotional impulse buying into logical rental spending, saving customers over ₹60 crore collectively. The product display showcased premium sherwanis, Jodhpuri suits, tuxedos, and blazers that the Sharks could examine for quality, fit, and finish.

Namita Thapar was the first to exit, citing operational complexity concerns. She found the high-inventory model, with potential downsides like garment damage and intensive maintenance requirements, too operationally risky for her investment thesis. Anupam Mittal sidelined himself from negotiations due to the perceived high operational complexity. Aman Gupta did not invest but advised the founders to open 2 to 3 more stores to secure a better valuation. Vineeta Singh was impressed by the 8-rental-per-year metric and less than 1% fraud rate. She initially offered ₹60 lakhs for 10% equity, then revised to 5% equity with a clawback: 3% equity returned if ₹2 crore PAT achieved in FY23-24. Amit Jain was impressed by the founders' execution and matched Vineeta's revised offer of ₹60 lakhs for 5% equity with the same clawback provision. The founders requested both Sharks to combine, and the deal was finalised jointly.

Vineeta initially offered ₹60 lakhs for 10% equity with verification conditions. Amit offered ₹60 lakhs for 5% equity independently. The founders countered at ₹60 lakhs for 3% equity. Anupam suggested to Vineeta and Amit to include a clawback provision. Vineeta revised to ₹60 lakhs for 5% equity with 3% returned if ₹2 crore PAT achieved in FY23-24. Amit matched Vineeta's terms. The founders requested both Sharks to combine, and the joint deal was finalised at ₹60 lakhs for 5% equity (effectively 2% if PAT target achieved) at ₹12 crore valuation.

Shweta and Rishabh Poddar accepted the combined offer of ₹60 lakhs for 5% equity from Vineeta Singh and Amit Jain at ₹12 crore valuation, with the clawback provision: 3% equity returns to the founders if the company achieves ₹2 crore PAT in FY23-24, reducing Shark equity to 2%. The deal was confirmed and closed after the show. Vineeta's consumer brand building expertise and Amit's marketplace distribution experience provided the strategic combination for scaling a men's fashion rental platform nationally and eventually internationally.

CandidMen's deal with Vineeta Singh and Amit Jain was finalised and closed after the show. CandidMen continues expanding post-Shark Tank with stores operational in Bangalore, Hyderabad (Jubilee Hills, Westend Mall), and Delhi. The website prominently features "As Seen on Shark Tank" branding, and the "Get styled in 30 minutes" promise with free instant alterations, styling, and accessories creates a compelling in-store experience that converts walk-in visitors into rental customers. Rishabh's LinkedIn activity signals ambitious international expansion plans, arguing that fashion rental is even more relevant in Western markets where credit card debt and BNPL usage make purchasing ₹50,000 outfits financially unsustainable. His vision of CandidMen as a global men's fashion rental brand positions the company beyond its Indian three-city base toward eventual international operations.