Biography of Saad Saeed Khan: MD and Co-Founder of Truly Komal Cosmetics
Biography of Saad Saeed Khan:
Introduction to Truly Komal Cosmetics
Saad Saeed Khan is the Managing Director and Co-Founder of
Truly Komal Cosmetics, a popular beauty and personal care brand catering to
Pakistan's growing demand for skincare and haircare products. Saad co-founded
the company alongside Komal Rizvi, a well-known celebrity, although she was not
present during the pitch at Shark Tank Pakistan. The brand, which emphasizes
high-quality skincare solutions, has successfully tapped into both the
e-commerce and salon industries. Truly Komal’s innovative products are gaining
popularity, thanks in part to Komal’s large social media following, which
reaches millions of potential customers.
The Business Model and Products
Truly Komal Cosmetics offers a range of products that
include skincare and haircare lines. Their product portfolio is popular not
only among individual consumers but also among professional salons.
Approximately 20% of their products are sold directly to salons, with a strong
presence in Pakistan’s beauty industry. The company’s e-commerce platform has
attracted around 300,000 followers, and the products are also available through
traditional trade and export channels. The brand’s commitment to quality and affordability
has contributed to its growing success in the competitive beauty market.
Impressive Growth and Financials
During their pitch, Saad highlighted the impressive growth
trajectory of Truly Komal Cosmetics. In its first year, the company achieved
sales of PKR 26 million, but in the most recent year, they had soared to PKR
140 million in sales. The company has maintained a solid profit margin of
15-19%, with a clear revenue breakdown: 60% of revenue comes from skincare
products, while 40% is from haircare. Their sales channels include a mix of
trade, e-commerce, and salons, with each contributing significantly to their
bottom line. The company’s strong month-on-month growth has set them on a path
to continued success.
The Beauty Market Challenge
Despite the success and strong business numbers, the sharks
expressed concerns about the scalability of Truly Komal Cosmetics. Pakistan's
beauty market is competitive, with numerous established players and
price-sensitive consumers. The sharks questioned how Truly Komal, with its
premium product offering, could scale and expand in a market that tends to
prioritize affordability. While the growth numbers were impressive, the sharks
were cautious about the brand's ability to sustain long-term profitability in
such a challenging environment.
The Equity Debate
Saad and his team sought an investment of PKR 3.5 crore for
a 5% equity stake in Truly Komal Cosmetics, valuing the company at PKR 70
crore. However, the sharks felt that this equity ask was too high given the
current stage of the business. Junaid Iqbal, one of the sharks, offered PKR 3.5
crore for 15% equity along with a 15% royalty on the company’s top-line revenue
until the amount was recouped. While the offer was substantial, the founders
were not ready to give away so much equity at this stage in their journey.
Counter Offers and Negotiation
In response to Junaid’s offer, Saad and Amjad countered with
a proposal of PKR 3 crore for 5% equity and 12% royalty, but the sharks
remained unconvinced by the terms. Romana Dada, another investor, extended a
different offer—PKR 3.5 crore for 30% equity in the business. While the sharks
were interested in the brand’s potential, the terms presented did not align
with the founders' vision for the future of Truly Komal Cosmetics.
Biography of Saad Saeed Khan: MD and Co-Founder of Truly Komal Cosmetics- Entrepreneur/age/net worth/investor/startup/shark tank pakistan/Truly Komal
A Wise Decision on Equity
Ultimately, the founders decided to reject the offers from
the sharks, especially the one that required giving away 30% equity. For Saad
and his team, maintaining control over the business was a key priority. The
company had big plans for future growth, and diluting their ownership at this
stage would limit their ability to execute their long-term vision. They felt
confident in the company’s current trajectory and did not want to give up
significant control at such an early stage.
Focus on Marketing and Branding
Although the founders didn’t secure the investment they were
seeking, the pitch was an opportunity for Truly Komal Cosmetics to gain
valuable exposure and credibility. Appearing on Shark Tank Pakistan allowed
them to showcase their brand and products to a broader audience. Saad and his
team knew that even without an investment, the appearance on the show would
serve as an excellent marketing tool, boosting brand recognition and attracting
more customers.
The Future of Truly Komal Cosmetics
Despite the missed opportunity for investment, Truly Komal
Cosmetics remains on a positive growth trajectory. With its strong e-commerce
presence, a growing social media following, and a loyal customer base, the
company is well-positioned for continued success in the beauty market. The
founders are committed to maintaining the quality of their products while
expanding their reach both locally and internationally. The feedback from the
sharks will undoubtedly help them refine their strategy as they work towards
scaling the business in a competitive market.
The Power of Knowing Your Numbers
One thing that stood out during the pitch was Saad’s deep
knowledge of the business's financials. As a founder, knowing the numbers
inside out is crucial when pitching to investors, and Saad did an excellent job
of presenting the company’s growth, margins, and revenue streams. His command
over the financials demonstrated that the founders were serious and
knowledgeable about their business, which is a valuable trait for any
entrepreneur seeking investment.
Conclusion: Building for the Long-Term
In the end, Truly Komal Cosmetics decided to move forward
without accepting the offers from the sharks. While it may not have secured the
investment it was hoping for, the decision to retain control over the company
is a wise one. With the founders’ clear vision, strong financial management,
and growing market presence, Truly Komal Cosmetics is well on its way to
becoming a major player in Pakistan’s beauty industry. As Saad and his team
continue to focus on expanding their product offerings and reaching new
markets, the brand’s future looks bright.
A timeline for Truly Komal Cosmetics:
Year 1: Company achieves PKR 26 million in sales.
Most Recent Year: Sales soar to PKR 140 million.
Shark Tank Pakistan Pitch: Saad pitches Truly Komal
Cosmetics for investment.
Equity Request: Saad seeks PKR 3.5 crore for 5% equity,
valuing the company at PKR 70 crore.
Sharks' Offers: Junaid Iqbal offers PKR 3.5 crore for 15%
equity plus 15% royalty.
Counter Offers: Saad counters with PKR 3 crore for 5% equity
and 12% royalty.
Rejection of Offers: Founders reject the offers, preferring
to maintain control.
Post-Pitch Exposure: Company gains significant brand
recognition and credibility.
Future Plans: Continue focusing on growth, quality, and
expansion in local and international markets.
