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Isak Fragrances, owned by Vidushi Vijayvergiya, is a startup that specializes in producing artisanal and customizable perfumes and attars. Vidushi comes from a family in Lucknow that has been involved in the fragrance business for over 160 years. Growing up around fragrances, she developed a passion for the art of perfume-making and went on to pursue an MBA from SCMHRD in Pune.
During her stay in Switzerland, Vidushi conducted research on the fragrance industry in France and combined this knowledge with her family's expertise to create Isak Fragrances. Despite resistance from her family, Vidushi started the business in 2016 and has since developed a range of long-lasting, unisex fragrances that are well-suited to the Indian climate. Isak Fragrances sells its products through both online and offline stores, with a focus on selective outlets.
The aim of Isak Fragrances is to offer customers a unique, customizable and artisanal fragrance experience. Vidushi Vijayvergiya, the owner of Isak Fragrances, brings her family's expertise in fragrance-making and her own research into the industry to create a range of high-quality, long-lasting perfumes and attars that are well-suited to the Indian climate.
Isak Fragrances aims to cater to a discerning customer base who value quality, authenticity and personalization. By offering customizable fragrances, Isak Fragrances allows customers to create a scent that is uniquely suited to their tastes and preferences. This approach sets Isak Fragrances apart from other perfume brands, which often offer limited options for customization.
In addition to its focus on customization, Isak Fragrances also emphasizes the use of natural ingredients and traditional techniques in its production process. This ensures that each fragrance is a truly artisanal product, crafted with care and attention to detail.
The business model of Isak Fragrances is centered around the production and sale of customizable, artisanal fragrances. The company sells its products through both online and offline channels, with a focus on selective outlets. Isak Fragrances' business model can be broken down into the following components:
Customizable fragrances: Isak Fragrances offers customers the opportunity to create their own unique fragrance, with the help of the company's experts. This customization option sets Isak Fragrances apart from other perfume brands and allows the company to cater to a discerning customer base.
Artisanal production: Isak Fragrances uses natural ingredients and traditional techniques to produce its fragrances, ensuring that each scent is a truly artisanal product. This emphasis on quality and authenticity is an important aspect of the company's business model.
Online and offline sales: Isak Fragrances sells its products through both online and offline channels. Customers can purchase fragrances directly from the company's website, or from selective offline stores. This multi-channel approach allows Isak Fragrances to reach a wider audience and cater to customers with different shopping preferences.
Unisex fragrances: Isak Fragrances' fragrances are designed to be unisex, appealing to a broad range of customers. This approach allows the company to target a larger market and cater to customers who are looking for a gender-neutral fragrance.
sak Fragrances' target market is made up of customers who value quality, authenticity and personalization in their fragrance choices. The company's focus on customizable, artisanal fragrances appeals to a discerning customer base who are looking for something unique and tailored to their tastes.
Isak Fragrances' fragrances are designed to be unisex, appealing to a broad range of customers regardless of gender. This approach allows the company to target a larger market and cater to customers who are looking for a gender-neutral fragrance.
The company's emphasis on using natural ingredients and traditional techniques also appeals to customers who are concerned about the environmental impact of their purchases and who are looking for products that are ethically produced.
Isak Fragrances' target market includes both online and offline customers. The company sells its products through its website as well as selective offline stores, which allows it to reach a wider audience and cater to customers with different shopping preferences.
Isak Fragrances has been generating a steady revenue stream over the past six months. With revenue of 18 lakhs (1.8 million) during this period, the company has demonstrated its ability to sell its unique, customizable fragrances to a growing customer base.
In addition to its revenue figures, Isak Fragrances' gross profit margin is impressive, with each signature collection bottle priced at ?3100 while the making cost is only Rs.350-360. This suggests that the company is able to generate a healthy profit margin on each sale, which bodes well for its long-term financial sustainability.
Moreover, the company's recent sales figures indicate that it has been gaining momentum in the market. With last month's sales totaling 3.5 lakhs (350,000), Isak Fragrances appears to be gaining traction among customers who are looking for high-quality, artisanal fragrances that are customized to their personal tastes.
The discovery pack, which costs ?650, may also be a key driver of sales for the company. This product allows customers to sample a range of different fragrances and is a low-cost way for them to experience the Isak Fragrances brand.
Isak Fragrances appeared on Shark Tanks India in order to secure investment for their business. The company's initial ask was for 50 lakhs in exchange for 8% equity in the company.
However, during negotiations, two counter offers were made. The first came from Peyush Bansal, who offered 50 lakhs in exchange for 50% equity in the company. This was a significant increase in the equity stake being offered by Isak Fragrances, but it would have given Bansal a controlling interest in the company.
In response to this offer, Vidushi Vijayvergiya, the owner of Isak Fragrances, countered with her own offer of 50 lakhs for 30% equity in the company. This would have allowed her to retain more control over the business, while still securing the investment needed to fuel growth.
Ultimately, it appears that Isak Fragrances accepted Peyush Bansal's offer of 50 lakhs for 50% equity in the company. While this represents a significant loss of control for the company's founder, it also provides a substantial injection of capital that can be used to expand the business and reach a wider audience.
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