Business Remedies | Rajshree Upadhyaya | July 14,2025 | In a beauty landscape traditionally dominated by safe, conventional choices, Paradyes emerged as a bold challenger, painting India’s haircare industry in unapologetic hues. The brainchild of 25-year-old Yushika Jolly, Paradyes introduced the country to its first semi-permanent hair colour line, rooted in both self-expression and safe formulations. Yushika, who grew up in Ankleshwar, Gujarat-home to her family’s dye-manufacturing business-was no stranger to colour. As a teenager, she often experimented with dyes from her father’s lab, unknowingly laying the foundation for her future venture.
Her academic journey took her from NIFT Gandhinagar to the London College of Communication, where she pursued a Master’s in Design Management. In London, Yushika experienced a beauty culture that celebrated vibrancy and individuality-something she found lacking back home. Upon returning to India in 2019, she identified a glaring gap in the market: the absence of vibrant, semi-permanent hair colours suited for Indian hair. Determined to change that, she teamed up with her husband Siddharth Raghuvanshi, an MBA with corporate experience, and her brother Karan Jolly, a chemical engineer. Together, they set up a modest R&D lab in Ankleshwar, combining their creative, business, and scientific skills to develop clean, herbal-infused hair dyes that were free from ammonia, PPD, and parabens.
In March 2021, after months of trials and product refinement, Paradyes was officially launched. Yushika’s commitment to authenticity was evident from the beginning-she even wore Paradyes’ bright yellow dye on her wedding day. The brand quickly gained traction on Instagram, building a loyal community of customers who resonated with its vibrant palette and honest, filter-free marketing. By the end of FY 2022, Paradyes was clocking a Rs. 3.5 crore turnover, fulfilling around 150 orders a day, and attracting buyers from across India and even the US.
Paradyes entered the national spotlight during its appearance on Shark Tank India Season 2. Yushika and Siddharth asked for Rs. 65 lakh in exchange for 1% equity, pegging their valuation at Rs. 65 crore. The pitch sparked a bidding war among the Sharks. Peyush Bansal offered Rs. 65 lakh for 5% equity, while Anupam Mittal and Vineeta Singh proposed the same amount for 4%. Aman Gupta, initially offering 5%, joined forces with Vineeta to close a deal at Rs. 65 lakh for 2%. Although it came with a lower valuation, Yushika and Siddharth chose this offer for its strategic value-Vineeta’s experience with SUGAR Cosmetics and Aman’s branding success with boAt made them the ideal partners for scale.
The aftermath of the episode, however, wasn’t all celebratory. While Siddharth was praised for his composed demeanor, Yushika faced online vitriol. Trolls labeled her as arrogant and manipulative-a reaction she called out in a powerful LinkedIn post, highlighting the double standards faced by assertive women entrepreneurs. Aman publicly defended her, praising her clarity and preparation. Despite the backlash, the brand witnessed a surge: website traffic spiked 20x, sales doubled, and Paradyes gained over 9,000 new Instagram followers within 48 hours of the episode’s airing.
Fuelled by this momentum, Paradyes expanded rapidly into offline retail, securing shelf space in over 35 Health and Glow stores, while preparing to launch permanent dyes and color-care products like serums and shampoos. Orders from international markets began to rise, and though the Shark Tank deal hadn’t officially closed by early 2024, the visibility it provided was priceless. With an average order value of Rs. 1,100, gross margins of 70-75%, and a net profit margin near 19%, Paradyes operates on strong business fundamentals.
At its core, Paradyes is more than a beauty brand-it’s a cultural shift. It challenges outdated norms, celebrates individuality, and invites people to express themselves without fear. For Yushika Jolly, colour is not just cosmetic-it’s confidence. And in every jar of Paradyes, that belief comes shining through.
Written & Edited By:
Rajshree Upadhyaya
