Emori wins big on Shark Tank India while True Diamond walks away empty-handed

Two lab-grown diamond jewellery brands, Emori and True Diamond, recently pitched on Shark Tank India Season 5. Both companies targeted younger buyers with affordable, customisable designs. Only one secured a deal after tough negotiations with the investors.

Emori, founded by Arushi Jain, entered the show seeking Rs 75 lakh for 1% equity, placing the company's valuation at Rs 75 crore. The brand specialises in lab-grown diamond rings, offering over 600 designs—one of the largest online catalogues in its segment. Their products come in 18K and 14K gold, backed by a lifetime warranty, and the business operates mostly online, with 42% of sales coming through digital channels. Despite having just one physical store, Emori has achieved a 10x inventory turnover and a 12% repeat customer rate, all while remaining fully bootstrapped.

The Sharks showed strong interest. After negotiations, Emori closed a deal with four investors, raising Rs 3 crore for 6% equity at a revised valuation of Rs 50 crore.

True Diamond, founded by Darayus Mehta and Parin Shah, took a different approach. The company focuses on customisable lab-grown diamond rings but struggled to convince the panel. They asked for Rs 1.08 crore for 1% equity, valuing the business at Rs 108 crore. However, concerns over brand clarity and consumer trust led the Sharks to reject the offer. True Diamond left the show without funding.

Emori's successful pitch resulted in Rs 3 crore in funding and a lower valuation than initially proposed. The brand's strong digital presence and efficient operations likely played a key role in securing the deal. True Diamond, meanwhile, failed to gain investor confidence, highlighting the challenges of brand positioning in a competitive market.