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December 9, 2025
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- Sun, 14 December 2025
Growing up in Ankleshwar, Gujarat, Yushika was fascinated by her father’s dye manufacturing business. By age 17, she began experimenting with hair colors, blending creativity with her family’s expertise.
This passion led her to pursue a Bachelor’s in Fashion Design from NIFT Gandhinagar and a Master’s in Design Management & Cultures from the University of the Arts London.
During her time in London, she noticed the abundance of vibrant hair colors available, which were scarce in India. After completing her education, Yushika noticed a significant gap in the Indian market for safe, semi-permanent hair colours.
Determined to fill this void, she co-founded Paradyes with her husband, Siddharth Raghuvanshi, in 2021.
The brand offers a range of vibrant, semi-permanent hair colors designed specifically for Indian hair types, allowing individuals to express themselves without the long-term commitment of permanent dyes
In March 2021, Yushika co-founded Paradyes with her brother, Siddharth Raghuvanshi, who has a background in chemical engineering.
They set up a lab in Ankleshwar, Gujarat, and began developing semi-permanent hair colors using natural extracts like Bhringraj and Aloe Vera.
The initial product line included vibrant shades such as Blue, Pink, and Purple, catering to the growing trend of self-expression through hair color. Over time, they expanded the range to include subtle tones like Hazel Brown and Berry Plum, which provide beautiful tints on darker hair without the need for bleaching.
Paradyes’ products are designed to be semi-permanent, fading after 8–10 washes, allowing users to experiment with different looks without long-term commitment. The brand emphasizes safety, ensuring that their products are free from harsh chemicals and metals. All products are manufactured in-house at their production unit in Ankleshwar, Gujarat.
In 2023, Paradyes gained significant visibility by featuring on the popular business reality show Shark Tank India. Despite facing online criticism and gender-based prejudice, Yushika defended her business decisions and highlighted the challenges women entrepreneurs often face.
She secured a deal with Vineeta Singh of Sugar Cosmetics and Aman Gupta of boAt, offering ₹65 lakh for 2% equity in the company. Yushika defended her decision to accept the lower equity offer, emphasising the importance of aligning with investors who shared the company’s vision.
Paradyes, founded by Yushika Jolly in 2021, has demonstrated impressive financial growth. In the 2023–2024 financial year, the company is valued at approximately ₹32.5 crore (around $3.78 million USD).
Revenue has steadily increased, from ₹2.5 crore in 2021 to ₹3.5 crore in 2022, and is expected to reach ₹5 crore in monthly sales by 2024.
By 2024, Paradyes achieved ₹5 crore in monthly sales, reflecting strong demand and market acceptance. Each order has an average value of ₹1,100, while the cost of acquiring a customer is ₹250. The business maintains a gross margin of 70–75% and a net profit margin of 19%, highlighting efficient operations and profitability.
These figures demonstrate Paradyes’ strong financial position and its potential for further growth in the Indian beauty market.
[Credits for header image: BiofuelCircle
This content is for informational purposes only and does not constitute legal, financial, or investment advice. This has been constituted based on third-party sources. We do not assume any liability for actions taken based on this information.]
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