Runner-up Thao Nhi Le on Shark Tank to raise 2.5 billion VND

Runner-up Thao Nhi Le took the sharks on a journey to discover scents, by blindfolding them so they could guess the scent of Centifolia - one of the two most expensive roses used to create high-end perfumes.

Co-founder with Thao Nhi Le to create Nimai is Romain Leclef, a Frenchman, who comes from a family that has been in the perfume business for nearly 200 years and is the 7th generation successor of the company. Coming to Shark Tank, Runner-up Thao Nhi Le wants to raise $100,000 for 10% of the shares.

Runner-up Thao Nhi Le confidently goes on Shark Tank to raise capital

With an engaging narrative, the beauty impressed the "sharks" with the product and predicted the future market potential.

Photo: Shark Tank Vietnam

Nimai was started in 2023 with an investment of 300,000 USD. Thao Nhi Le said the team spent more than 6 months to create "a unique and effective scent". She also said she was confident enough to bring Nimai to the market.

Nimai is a new niche perfume line (limited production with unique, rare scents) produced in France and will soon be launched in Vietnam. According to Thao Nhi Le, Nimai in Hindu means "formed from inner light", the second meaning is "two pieces" in Japanese.

The sharks all "turned around" with runner-up Thao Nhi Le

Shark Minh Beta thinks that the runner-up will have difficulties because there is too much competition in the market and questions why customers choose to buy a new perfume brand like Nimai instead of high-end brands and other perfume lines.

Co-founder with runner-up Thao Nhi Le is Romain Leclef (French), born into a family that has been in the perfume business for nearly 200 years.

Photo: Shark Tank Vietnam

Thao Nhi Le believes that everything depends on emotions "like buying clothes, I don't just buy from one brand. I always change my dressing habits, I change my own taste". Thao Nhi Le said that after a period of business, she realized that "some people buy because of the scent, some buy because they love the brand, some buy because they are in my community and there are countless reasons they buy the product, but as long as they feel the story of this brand. They recognize themselves in that brand and feel an emotional connection with the product, they will buy".

Because the startup had not yet launched a specific product, Shark Binh "did not understand the perfume industry well" and decided not to invest; however, he said he respected the founders' journey and thought "I would miss a huge opportunity if I had to refuse to invest in this deal".

Shark Le My Nga believes that perfume is a red ocean, a competitive market with many challenges in the future.

Sadly, the "sharks" all... turned around, but runner-up Thao Nhi Le successfully convinced the sharks about the product quality.

Photo: Shark Tank Vietnam

Shark Tillman Schulz (German) said: "Thao Nhi has nearly 1 million followers, Romain Leclef's company has 200 years of experience. Doing business is 80% based on networking, take advantage of that."

Although in the end the "sharks" all... turned around and runner-up Thao Nhi Le left empty-handed, Nami somehow convinced the sharks about the product quality and professionalism, as well as the choice of a long-term path for this perfume brand in Vietnam.

Episode 12 of Shark Tank Vietnam season 7 (broadcast on the evening of October 14 on VTV3) also impressed with two passionate startups: a French food critic with his "luxury" fish sauce spray product and an American technology researcher with a water purifier using unique CDI electric filtration technology.

With 5 rejections, the French food critic has not yet gotten a "handshake" from the "sharks".

The American technology research doctor was paid 5 billion VND by the Russian shark for 7% of shares, of which 1 billion VND is in cash and the remaining 4 billion VND is for his efforts to support capital mobilization.

Source: https://thanhnien.vn/a-hau-thao-nhi-le-len-shark-tank-goi-von-25-ti-dong-185241014222654159.htm