Premium shapewear brand Invogue made its appearance on Shark Tank India Season 5, where founders Maadhav and Ragini Saxena shared their journey of blending daily comfort with premium compression technology. Positioned under the tagline “Own Your Inner Bold,” the brand showcased a business model that prioritizes high profitability alongside aggressive scaling.
Entering the Tank, the founders sought ₹50 lakh for 1.25% equity, valuing the business at ₹40 crore. During the pitch, Maadhav a serial entrepreneur who started his first venture at age 14 revealed that Invogue has successfully carved a niche by offering shapewear that supports 8–9 hours of daily wear.
Founded with a focus on functional fashion, Invogue operates in the premium intimate wear segment. The brand offers a tiered product strategy: Invogue Essentials priced at ₹1,599, the high-contouring Invogue Intense at ₹2,599, and a hybrid Shapewear Bralette at ₹999. To accelerate brand awareness, the company recently signed actress Malaika Arora as their brand ambassador, a move aimed at capturing the 18–34 age demographic.
Sharing operational insights, the founders revealed a highly efficient digital strategy, with 96% of sales generated through their own website. This direct-to-consumer focus allows the brand to maintain an inventory of ₹55 lakh at cost with 0% dead stock across 200 SKUs. The brand also experiences a clear seasonal peak between October and February.
On the financial front, Invogue demonstrated a rare profile of profitable growth. The brand recorded ₹5 crore in revenue in FY24 with a 22% EBITDA. For FY25, they have already clocked Rs 5.3 crores with 17% EBITDA and ₹3 crore sales in year-to-date revenue, projecting a year-end close of ₹5.3 crore. Looking ahead, the founders are targeting a long-term goal of reaching the ₹100 crore mark within five years.
According to the pitch, the brand maintains a disciplined cost structure despite allocating 39% of resources to marketing. This financial health sparked a competitive bidding war between the Sharks, particularly as Invogue was featured in a “face-off” against rival brand Krvvy.
The brand successfully closed a deal on the show, securing ₹2 crore for 15% equity, valuing Invogue at ₹13.33 crore, with Aman Gupta backing the venture.
