Shades of Spring

Founders:

MARKET & PRODUCT

Problem Statement

The founders identify a significant market gap: “Where is that company whose flowers bring us joy in giving and receiving, and which we tell our friends about? And which company will combine brand and forest (farmers), supply chain and sourcing, and technology and data so that we get new exotic flowers every month, every season?” The flower gifting industry in India (₹50 lakh crore market size mentioned) lacks a branded player that customers trust and recommend to others.

Solution

Shades of Spring offers 300+ varieties of farm-fresh flowers through a subscription model. Their flagship DIY flower subscription box delivers flowers within 48-72 hours of harvest from farm to doorstep, ensuring freshness that lasts 7+ days at home.

USP

Farm-to-door delivery within 48-72 hours of harvest
7+ days freshness guarantee at home
300+ varieties of farm-fresh exotic flowers
Innovated the DIY flower subscription box in 2019
Price point of ₹350 per delivery (extremely attractive for the quantity and quality offered)
Monthly subscription model providing new exotic flowers each season

Target Market

80% self-consumption customers (people buying flowers for their own homes)
20% gifting customers
Primarily affluent customers in Bangalore who can afford subscriptions
Customers described as “very rich people who have fresh flowers at their homes”
Early adopters and doctors mentioned as key customer segments

Market Size/Opportunity

Fresh produce industry mentioned as part of ₹50 lakh crore market
One Shark noted: “Unfortunately, the market for customers who are enthusiasts of such specific things is very small in India. Very rich people have fresh flowers at home; most people have either plants or artificial flowers for decoration.

Positioning

Mid-premium positioning with focus on freshness, variety, and convenience at an accessible price point (₹350 per box for self-consumption).

Competitive Advantage

First-mover advantage in DIY flower subscription boxes (innovated in 2019) Direct farm sourcing and supply chain control Technology and data integration for sourcing Price-to-value proposition (₹350 for quantity of flowers that are difficult to find elsewhere) Customer acquisition through subscription leading to repeat gifting business

BUSINESS MODEL

Revenue Streams

Two primary streams with 50-50 split: Subscription boxes (50% of revenue) – Lower margins (20%) Gifting/Bouquets (50% of revenue) – Higher margins (40%) Strategy: Subscriptions act as customer acquisition tool; once customers know the brand through subscriptions, they return for gifting needs at higher margins.

Pricing Strategy

DIY Subscription Box: ₹350 per delivery
Gift Subscription: ₹600 (allows recipient to receive flowers for entire month)
Average bouquet for gifting: ₹1,500
Positioned as affordable premium (₹350 subscription described as “very attractive” as such exotic flowers are hard to find at this price)

Distribution Channel

Own website (primary channel)
Started on WhatsApp (first year operations)
Direct-to-consumer model
B2B operations mentioned (vertical integration from supply to B2B to B2C)

Production/Operational Model

Direct farm sourcing
Import operations mentioned
Supply chain management from farm to customer
Vertical integration: “You’re doing everything from supply to importing to B2B to B2C”
Harvest to delivery within 48-72 hours
Each subscription box includes instructions for customers on flower care

Business Model Type

Hybrid D2C + Subscription + B2B

FINANCIALS & TRACTION

Revenue

Current year (trending): ₹9 crore annual revenue
First year (WhatsApp-primarily): ₹15 lakh
Growth trajectory shows massive scale-up from first year to current year

Profit Margins

Gross Margin: 29% overall
Subscription margin: 20%
Gifting/Bouquet margin: 40%

Unit Economics

N/A

Customer Metrics

80% customers purchase for self-consumption
20% customers purchase for gifting
Subscription customers noted to have upfront payment model (customer pays entire revenue upfront)

Growth Rate

Exponential growth from ₹15 lakh (Year 1) to ₹9 crore (current year)
Percentage growth rate not specified, but represents 60x growth

Past Performance

Launched DIY flower subscription box in 2019 Started primarily on WhatsApp in first year (₹15 lakh revenue) Scaled to ₹9 crore trending revenue in current year Successfully operating in Bangalore market

THE PITCH

Investment Ask

₹3 crore for 1% equity at ₹300 crore valuation

Deal Outcome

NO DEAL – All 5 Sharks went out

Use of Funds

Challenges/Concerns Raised

Shark Questions

STRATEGY & LEARNING

Growth Strategy

Vertical integration from farm sourcing to B2B to B2C Using technology and data for sourcing optimization Subscription model as customer acquisition funnel Converting subscription customers to higher-margin gifting customers Expanding variety (300+ flower types) Seasonal exotic flower offerings

Customer Acquisition Strategy

Started on WhatsApp (first year primary channel)
Moved to website-based ordering
Subscription-first approach: customers discover brand through affordable ₹350 subscriptions, then return for ₹1,500 gifting needs
Word-of-mouth appears to be key channel (founders asked “which company do we tell our friends about?”)
Customer experience focus: instruction cards included in boxes for flower care

Pivots

Evolution from WhatsApp-based business (₹15 lakh revenue) to website-based operations (₹9 crore revenue)
Expansion from pure subscription to hybrid subscription + gifting model

Learnings/Insights

DIY flower subscription box concept (innovated 2019)
Price point of ₹350 proved very attractive
Farm-to-door model ensuring freshness (48-72 hours harvest to delivery)
Bangalore market validation with early adopters
Hybrid model: low-margin subscriptions feeding high-margin gifting business
60x revenue growth from Year 1 to current year