Shark Tank India: Adil Qadri puts lack of education and English fluency behind; forms perfume startup worth Rs 100 crore

In the third season of Shark Tank India, a startup called Adil Qadri captivated everyone with its compelling story. Founded by Adil Qadri, the startup shares his name and aims to become a significant brand in the market. During his appearance on the show, Adil sought Rs 1 crore in exchange for 0.5% equity, valuing his company at Rs 200 crore. Although most sharks were not interested, Vineeta Singh offered Rs 1 crore for 1% equity, valuing the business at Rs 100 crore.

Breaking Barriers

Adil Qadri's journey began in 2019. At around 30 years old, living in the tier-3 city of Bilimora, Gujarat, Adil faced skepticism due to his lack of formal education and English proficiency. Despite these challenges, he persevered and carved a unique path for himself.

Overcoming Health and Educational Hurdles

Adil's struggle with asthma forced him to leave school after the 5th grade. From 2005 to 2012, he pursued various courses to expand his knowledge. In 2014, his uncle introduced him to SEO (Search Engine Optimisation), sparking his interest in digital marketing. Though he worked on several D2C websites until 2018, success remained elusive.

A Family Legacy and a New Beginning

Adil's father worked in a perfume shop for 25 years, where the lack of standardisation affected the fragrance quality. Inspired by this, Adil launched the Adil Qadri brand in 2019. He credits his hometown for imparting crucial lessons in business acumen, fragrance identification, and resilience.

A Flourishing Perfume Business

The Adil Qadri brand focuses on modern and premium packaging, making perfumes a popular gift choice. Adil handles around 3,000 orders daily, having completed over 1 million orders to date. His brand is a top seller in the perfume category on Amazon and Flipkart, boasting a 3.8 rating. Notably, 95% of his customers are men. Adil proudly declares himself the industry leader, saying, "Every industry has a goon, and I am the goon of this industry."

Financial Growth Amid Challenges

Adil Qadri's business, primarily online, has an average selling price of Rs 800. The startup's revenue has seen substantial growth: Rs 5.3 crore in 2020-21, nearly doubling to Rs 10 crore in 2021-22, and again to Rs 20.7 crore in 2022-23. For 2023-24, the company aims to reach Rs 80-90 crore, expanding its business fourfold.

Despite current losses, the company enjoys a gross margin of around 70%, which attracted Vineeta Singh's investment. Adil has avoided external investments, relying instead on loans totaling Rs 6 crore from two NBFCs. His willingness to take further loans for repayment deterred many sharks from investing.

Adil Qadri's story is a testament to overcoming adversity, demonstrating that determination and innovation can defy expectations and lead to remarkable success.