Co-founders Tanvi and Harsh Somaiya establish The Bear House as a notable player in men’s fashion with a significant investment from Shark Namita Thapar.
In a notable episode of Shark Tank India aired on March 13, 2023, Tanvi and Harsh Somaiya, the co-founders of The Bear House, secured a Rs. 3 crore investment from Shark Namita Thapar, the Executive Director of Emcure Pharmaceuticals. This business reality TV series, which streams on Sony LIV, has become a platform for entrepreneurs seeking investment and mentorship.
The investment from Thapar encompasses Rs. 1 crore for a 1% equity stake in the company along with Rs. 2 crore in debt. The episode showcased a panel of judges including Thapar, Anupam Mittal, Aman Gupta, Viraj Bahl, and Kunal Bahl, who assessed the young entrepreneurs based on their business model, product offerings, and potential for profitability and scalability. Shark Aman Gupta described The Bear House as “too good to be true,” indicative of the strong impression the brand made on the panel.
Both Harsh and Tanvi Somaiya expressed a preference for Thapar’s offer, viewing it as more aligned with their vision in comparison to an alternative proposal from Shark Kunal Bahl, who proposed a Rs. 3 crore investment for a 3% equity stake at a Rs. 100 crore valuation.
The Bear House, which was founded in 2017, specializes in contemporary men’s apparel and accessories focusing on smart casuals. The brand is heavily influenced by European fashion and aims to provide high-quality, minimalistic clothing suitable for the hybrid work culture. “Being on Shark Tank and earning the trust and support of the judges is a pivotal moment for The Bear House team! This experience has solidified our reputation as a powerhouse in the menswear segment,” stated Tanvi Somaiya regarding the significant investment and validation from the investors.
Harsh Somaiya elaborated on the brand’s philosophy, saying, “Our product is our brand ambassador!” This encapsulates their belief in the quality of their garments as a defining factor in their marketing strategy.
The Bear House has already established a physical presence in key Indian cities such as Delhi, Bengaluru, and Hyderabad and is now looking to expand into additional Tier I and Tier II cities, including Mumbai, Pune, and Chennai. With projections indicating the brand will exceed Rs. 140 crore in net revenue this year—an impressive growth rate of over 40% year-on-year—the investment from Thapar is expected to bolster their online and offline expansion efforts as well as marketing initiatives.
As a prominent player in the market, The Bear House has achieved considerable success on e-commerce platforms, particularly Myntra, where it holds the top position in the casual shirts category. The brand is also available on Flipkart, Ajio, Tata Cliq, Nykaa, and Amazon, and continues to expand its market reach through partnerships with quick-commerce platforms like Zepto.
In her remarks during the investment pitch, Namita Thapar praised the Somaiya couple for their resilience and dedication to building their brand despite challenges. “Your story sounds too good to be true—but it’s not just a story, it’s your reality,” she stated while making her investment offer.
Given the momentum from the Shark Tank appearance, The Bear House plans to reinvest the funding towards enhancing its online presence, opening new exclusive brand outlets (EBOs), and optimizing its retail strategy, with future launches planned in various prime locations across the country. The brand’s e-commerce operations are supported by their website, www.thebearhouse.com, and their app, which facilitates direct sales to consumers. Additionally, the company operates through a D2C multi-brand store called Broadway located in Delhi and Hyderabad.
With ambitions to further penetrate the Indian fashion landscape, The Bear House aims to provide men with versatile clothing options that transition seamlessly from work to leisure, reinforcing their commitment to quality and style.
Source: Noah Wire Services
