Karibo Cosmetics

Bhakti Bhanushali and Jasmine Shah are Season 3's most youthfully entrepreneurial best-friend founders. Both started Karibo Cosmetics at age 21 (making them 24 at pitch time), having met while working at a media agency where they were tasked with linking an influencer with a cosmetic brand. During a brainstorming session at the media agency, they had a revelatory conversation: "We present everything as a unique identity, but we compel customers to pick shades from a rack. Why not let them create their own product so they have the freedom to make their own?" That question became Karibo's entire founding philosophy: instead of choosing from pre-made shades, customers create their own shade from scratch.

Karibo Cosmetics is India's first and only live-experience customised lipstick brand, offering consumers the unique opportunity to create their own lipstick from scratch at hosted events. Trained mixologists guide customers through the creation process: selecting their desired shade (from a colour wheel with infinite combinations), choosing texture (matte, glossy, satin, cream), picking essence (vanilla, rose, strawberry), and watching their custom lipstick being blended and filled into a refillable container on the spot. The experiential model is Karibo's most commercially distinctive and most competitively defensible positioning: no existing beauty brand offers live lipstick-making at events. The experience creates emotional memories (making your own lipstick at a bachelorette or wedding), social media content (Instagram-worthy creation process), and personalised products (a shade that exists nowhere else because you created it), making each Karibo event simultaneously a product sale

Amount Asked: ₹80 lakhs Equity Offered: 5% Implied Pre-Money Valuation: ₹16 crore

Bhakti and Jasmine opened Season 3 Episode 36 with the most interactive beauty demonstration of the season: setting up a live lipstick-making station on the Shark Tank stage and inviting the Sharks to create their own custom lipstick. The experience was visually engaging, the mixing process was entertaining, and the final customised lipsticks were genuinely unique. Jasmine's pitch opening captured the consumer insight perfectly: "Nowadays, we might get a perfect life partner, but we don't get a perfect shade of makeup." Bhakti added: "That's the reason we want to make Karibo a brand which helps everyone customise all their beauty products."

Aman Gupta called the founders "sweet and passionate" but exited because he did not see the business going in the right direction. Peyush Bansal asked about their future plans and investment strategy. Vineeta Singh delivered the most structurally critical feedback: the company was not formally incorporated, handled cash payments without documentation, and had no proper accounting. Ritesh Agarwal believed in the concept's potential and offered to help establish the company properly (incorporation, tax filing, documentation) but sidelined from investment, believing they needed 1 to 1.5 years of structured development before being investment-ready. Radhika Gupta (guest Shark) saw the concept's potential and emphasised the urgency of establishing the company formally.

No Shark made a formal equity offer. All five exited before entering negotiation. The unanimous concern was not the product or the experience (every Shark acknowledged the concept's uniqueness) but the complete absence of business infrastructure: no company incorporation, no formal accounting, no tax compliance, no documented financials, and no clear growth strategy beyond event-based services. These are prerequisites for any equity investment that the founders had not yet established.

Bhakti Bhanushali and Jasmine Shah left Shark Tank India Season 3 Episode 36 without any investment. All five Sharks declined, each citing the fundamental business infrastructure gap rather than product quality or concept viability. Ritesh's offer to help with company setup (without investing equity) was the most tangibly supportive non-investment Shark contribution. The founders left with a clear to-do list: incorporate the company, implement formal accounting, establish tax compliance, document all financials, and then either raise investment or scale the event-based model profitably.

Our research into Karibo Cosmetics revealed that although they did not secure a deal on Shark Tank India, their appearance on the show had a positive impact on their business, leading to a significant increase in followers on Instagram, with a current count of 34.6K. Karibo Cosmetics continues operating from Mumbai with its event-based customised lipstick-making model. The Instagram following surge to 34,600 plus demonstrates that the Shark Tank national broadcast gave the brand consumer awareness that its pre-episode social media presence could not have generated. The "live lipstick making" concept continues to attract event organisers, wedding planners, and corporate event managers across India.