Is Isak Fragrances out of business after Shark Tank India?

• Founder: Vidushi Vijayvergiya
• Business: Perfumes
• Ask: ₹50 lakhs for 8% equity
• Valuation/Net worth: ₹6.25 Crores
• Result: ₹50 lakhs for 50% Equity
• Sharks: Peyush Bansal
• Episode: Season 1 Episode 26

Isak Fragrances Shark Tank India Pitch:

Isak Fragrances is a distinguished contemporary fragrance brand with over 160 years of experience in India’s rich perfumery heritage. Dedicated to creating niche Indian artisanal fragrances, Isak Fragrances seeks to showcase Indian perfumery craftsmanship on the global stage. Their perfumes, including attars, parfumes, and minis, are meticulously crafted, embodying the charm and expertise of Indian perfumery. Isak Fragrances offers a range of products, with their attars being 100% perfume oils.

Founder Vidushi Vijayvergiya, inspired by her family’s legacy in perfume-making, launched the brand to continue this tradition and reintroduce the forgotten trend of Indian perfumery. Over the last four years, they have successfully sold customizable, artistic, and unisex perfumes through their own website and selected retail stores. They enjoy a remarkable 90% profit margin on their products. In the fiscal year 2021-2022, their year-to-date sales amounted to ₹18 lakh, with the last month’s sales reaching ₹3.5 lakh. Vidushi has invested ₹8 lakhs in the company, and her aunt, who shares an equal equity split, invested an additional ₹9 lakhs.

Isak Fragrances Shark Tank India Negotiations:

During their pitch on Shark Tank India, Vineeta decided not to invest, as she didn’t perceive Isak as a brand in direct competition with international fragrance brands. Anupam, while interested in the market, didn’t see it as a viable business and also chose not to invest. Gazal concurred with Anupam’s assessment and followed his lead in declining the opportunity. Namita commented that scaling the business would be a challenge, leading her to decline as well.

Peyush expressed a strong interest in the category and the entrepreneur but noted the absence of a team and a clear vision for the company. He also suggested that Vidushi needed to buy her aunt’s equity out, which would result in only two decision-makers if he were to invest. Under these conditions, Peyush offered ₹50 lakh for 50% of the company. The company countered with a 30% equity stake, which Peyush refused. Vidushi took a moment to think and returned to accept the 50% offer. The deal was closed at ₹50 lakh for 50% of the company.

Who is Isak Fragrances Founder?

Isak Fragrances’ founder, Vidushi Vijayvergiya, established the company in 2017. She hails from a family with a rich heritage in perfumery. Vidushi holds an MBA from SMRD Pune and conducted research in Switzerland on successful European companies in this market.

How is Isak Fragrances doing After Shark Tank India?

After their appearance on Shark Tank India, our research indicates that Isak Fragrances closed their deal with Peyush Bansal. Vidushi returned in Season 2 as one of the success stories from Season 1, where she expressed gratitude to Peyush Bansal for his investment. She shared that even a year after the show, their phones were still ringing, and they were receiving a month’s worth of orders in a single day after their pitch aired. Isak Fragrances conducts business across India and receives inquiries from all over the world.

As of November 2023, Isak Fragrances remains in business and continues to grow. They offer international shipping through their website and are available on marketplaces like Nykaa and Amazon. The company boasts over 22,000 Instagram followers and maintains a presence on other social media platforms as well.

Source: Isak Fragrances Instagram