The co-founder and CEO of Boat Lifestyle, Aman Gupta, concluded a huge agreement on a recent episode of Shark Tank India season 4 in the middle of a high voltage drama. Shashank Chourey, the founder of the Indore Em5 perfume brand, came to the series to present his business.
Speaking of the origins of his brand, Chourey said that he was amazed by the cost of luxury perfumes. He said that most luxury perfume brands work with very high margins.
“Most luxury brands work with very high margins. By looking for perfumes that were not as expensive, I saw that they spend more on the brand, the packaging and the traffic jam and no real value was added to the real perfumes, “he declared.
He said it was this awareness that led him to create EM5, which offers high -quality luxury perfumes at affordable prices. During the field, it was revealed that the founder is an engineering dropout which has also collapsed in the world of professional piracy because of his passion for this.
Coming to EM5, the founder said that he had his manufacturing unit and that the company had obtained a monthly execution rate of 1.7 crosses in just 2 years due to the minimalist packaging approach. He also revealed that he had invested approximately 2.3 crosses and that the brand had an inventory worth 1.7 cost at the cost.
He asked for an investment of 70 Lakh for a 2% participation in his business, assessing his business at 35 sterling books. Its main objective of coming to the show was to obtain advice from “sharks”. Gupta was impressed by Shashank’s grip on his company’s figures and said he had seen the potential of the latter to make it tall.
His “sharks” colleagues, however, had a few questions. The founder and CEO of AcKO Varun Dua was worried about what would happen to EM5 if other brands were starting to reproduce the same perfumes.
The co-founder and CEO of Sugar Cosmetics, Vineeta Singh, however said that many brands like EM5 choose the world’s bestsellers of international luxury brands and duplicate exactly the same perfume. The Peyush Bansal of Singh and Lenskart withdrew from the agreement due to concerns concerning the excessive trust of Chourey concerning his business.
DUA, however, offered the launcher an investment of 70 Lakh for 5% of equity and 1% of the royalality until it recovers 1.5 x its investment. Anupam Mittal also offered two offers – 70 ₹ Lakh for 4% equity with 1% fees until it has recovered its initial investment and 70 Lakh for 6%.
At this stage, Aman Gupta also had two offers – 1 crore of ₹ for 10% equity or 70 Lakh for 6%. Finally, Chourey accepted Aman Gupta’s offer of 1 crore ₹ for 10% equity. GUPTA also told the launcher: “You bandage Chèvre Hai, simple Paas Boat Hai (you are the biggest of all time and I owe Boat).”
