On Shark Tank India 4, Perfume Brand EM5 Lands Rs 1 Crore Deal With Aman Gupta
In the latest episode, Shashank Chourey mentioned that as a child he did not have the money to buy perfumes so he would collect incense and soaps.
An Indore-based perfume brand landed a deal on Shark Tank India Season 4 with boAt Lifestyle CMO Aman Gupta. Shashank Chourey, the founder of EM5, revealed that he had been a fan of fragrances since childhood and set out to make them affordable. The result was EM5.
In the latest episode, Chourey mentioned that he did not have the money to buy perfumes during childhood and he would collect incense and soaps. With a background in IT businesses, he used his knowledge to launch EM5, which has been running successfully for the past two years. The product has generated a monthly run rate of Rs 1.70 crore in the last two years. Chourey pitched his business EM5 on Shark Tank India and asked for Rs 70 lakh in exchange for a 2 per cent equity stake.
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Shashank outlines his goal, revealing that he intends to build an online business worth Rs 500 crores in the next five years. Peyush Bansal was the first to leave the deal, recognizing Shashank’s interest as a positive characteristic but also pointing out what he saw as overconfidence in assessing competition. Aman Gupta was impressed by Shashank’s business sense and stated, “I see a capability in you to go big." Anupam Mittal said that he feels Shashank doesn’t need money, and the founder agrees, noting that his major desire is to seek guidance. Anupam says, “Toh gyaan toh pata hai, kiske paas hai. (you know who knows)" His smart reply makes Aman Gupta and the other Sharks laugh.
Anupam Mittal offers three deals: Rs 70 lakhs for 4 per cent equity with 1 per cent royalty till he receives 1x his money, Rs 70 lakhs for 6 per cent and Rs 1 crore for 10 per cent. Varun Dua offers a contract of Rs 70 lakhs for 4 per cent equity and 1 per cent royalty until Rs 70 lakhs are recouped. Aman makes an offer of Rs 70 lakhs for 6 per cent equity and his second offer is Rs 1 crore for 10 per cent equity. Shashank finally went with Aman for Rs 1 core with 10 per cent equity.
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