The startup Isak Fragrances has raised INR 50 lakhs for the equity of 50% from Shark Tank India. This is a perfume producing startup. Shark Peyush Bansal invested in this startup.
The original ask by the pitcher was INR 50 lakhs for the equity of 8%. All sharks pulled themselves off from the deal except Peyush Bansal. Peyush Bansal showed interest and offered 50 lakhs rupees for the equity of 50%, but the pitcher countered it and gave a counteroffer of 50 lakhs rupees for the equity of 30%. And finally, the deal was done at 50 lakhs rupees for the equity of 50% by Peyush Bansal.
About Isak Fragrances
The owner is Vidushi Vijayvergiya. She is a native of Lucknow. She has been a member of an Indian family producing scents for over 160 years. Perfumes have surrounded her since she was a child. She earned her MBA from Pune’s SCMHRD.
During her time in Switzerland, she conducted a study on the fragrance industry in France. She founded Isak Fragrances based on her studies and information gained from her family’s business experience. During the previous five years, they’ve established a line of customisable, collection-based artisanal and unisex perfumes and attars. They sell their products through online sites and a few chosen locations. Being a part of a family business in Marwaris is challenging; therefore, she created her startup. Despite the family’s opposition, she took the plunge and began this in 2016.
The company’s valuation is 6.25cr. One signature collection bottle price is ₹3100. The making cost is Rs.350-360. Their last six months revenue is 18 lakhs and last month sales are 3.5 lakhs. Their discovery pack cost ₹650.
Problems Solved By Isak Fragrances
The main problem solved by Isak is they make customized perfumes; people can order their desired flavour as per their needs. Their scents stay a long time and are suitable for the Indian environment. The Isak Fragrances are for both men and women. The company produces quality perfumes; their perfumes remain for a longer duration and make the surrounding essence.