Shark Tank India 4: Perfume brand founder Shashank Chourey says he seeks knowledge, not money; Anupam Mittal quips, 'Gyaan toh tujhe pata hai kiske paas hai'

The latest episode of Shark Tank India season 4 started with a perfume brand EM5, founded by the Indore-based Shashank Chourey. The founder shared on the show how he has been fond of perfumes since childhood. Shashank, a lifelong perfume enthusiast, transformed his passion for premium fragrances into a mission to make luxury perfumes accessible at affordable prices. During childhood when he did not have money for perfumes he fulfilled his desire by collecting incense and soaps. With a background in IT ventures, he leveraged his diverse expertise to establish EM5, which has been successfully operating for the past two years.
The brand is redefining the perfume industry with its luxurious yet affordable fragrances. Offering a diverse range of products, including solid perfumes, body mists, scented candles, and beard balms, EM5 crafts a sensory experience that resonates with elegance and sophistication. Within two years of its launch, the product has a monthly run rate of Rs 1.70 crores. While sharing his entrepreneurial journey on Shark Tank India, Shashank Chourey pitched his brand EM5, seeking Rs 70 lakhs for a 2% equity stake in the company. The founder revealed that due to lockdown, he had to put all the work related to EM5 perfumes on hold, but in June 2022, Shashank brought EM5 back.
While discussing his entrepreneurial journey and background, Shashank Chourey shared his involvement in multiple ventures, including an IT firm and a fish farm. Amused by his diverse business interests, Anupam Mittal and the other Sharks jokingly remarked that Shashank would take their investments while they ran the business. However, he quickly clarified, stating that he would take their investments and run the company for them instead.
Shashank shares his vision and reveals that he wants to make an online business of Rs 500 crores in next five years. Peyush Bansal was the first to step out of the pitch, acknowledging Shashank’s curiosity as a positive trait but also pointing out what he perceived as overconfidence in judging competition. He further stated that if Shashank couldn’t envision building a business bigger than Titan, he didn’t see a reason to associate with him.
Shashank shares his sales and reveals they did Rs 1.7 crores in October 2024 and the profit was around Rs 8-9 lakhs (net revenue). September 24, they did Rs 1.55 crores and the profit was Rs 8-9 lakhs, in Aug 2024, they did 1.4 crores and the profit was Rs 6-7 lakhs.In 2023-34, the sales were Rs 8.35 crores and the profit was Rs 8 lakhs. In 2022-23, they Rs 1.69 crores and they had a loss of Rs 3.25 lakhs. In the last 6 months 2024-25 till October, they did Rs 9.5 crores and Rs 44 lakhs. Their vision for 2024-25 is Rs 21 crores. Recently, EM5 has got the approval for listing on Swiggy Instamart
Shashank has invested around Rs 2.3 crores and they have an inventory of Rs 1.7 crores at cost. Aman gets impressed by Shashank's business sense and he praises him. He says, "I see a capability in you to go big."
One of their perfumes Aghori, launched on October 24, has generated Rs 20 lakhs in sales in two months. Shashank expressed hesitation about offering a 1% royalty, considering it too insignificant given the potential scale of his business and the high returns he could generate. He emphasized that he didn’t want the Sharks to focus on the small royalty but instead invest their time in him. He confidently stated that with just an hour of their guidance, he could scale the business to Rs100 crores.
Anupam Mittal tells Shashank that he feels he doesn’t actually need money, to which Shashank agrees, stating that his primary need is knowledge. In response, Anupam smirks, adjusts his glasses, and quips, "Toh gyaan toh pata hai kiske paas hai." His witty remark leaves Aman Gupta and the other Sharks in fits of laughter.
Anupam Mittal offers three deals Rs 70 lakhs for 4 percent Equity with 1 percent royalty till he gets 1x of his money, second offer is Rs 70 lakhs for 6 percent and third one is Rs 1 crore for 10 percent. Varun Dua offers a deal Rs 70 lakhs for 4 percent Equity + 1 percent royalty until Rs 70 lakhs is recouped.
Aman makes an offer Rs 70 lakhs for 6 percent Equity and his second offer is Rs 1 crore for 10 percent Equity. Shashank accepted Rs 1 core for 10 percent Equity deal of Aman Gupta.