The startup Scentme promises "unique fragrance experiences" with its laundry detergent pods, which feature a long-lasting perfume scent. The Munich-based company touts the sustainability of its completely plastic- and solvent-free product. Scentme also relies on fragrances created by a perfumer using high-quality, original French perfume oils. These fragrances are also intended to positively influence the mood of users.
Five founders presented their product to the “The Lion’s Den”Jury. Peter Knöll, Cornelius Bessler, Markus Kessler, Ferdinand Storp, and André Engels are all experienced businessmen and impress with their expertise in sales, product development, supply chain management, and the perfume industry. André Engels declared with confidence:
“Basically, we are revolutionizing the boring detergent market.”
The Scentme founders' goals are ambitious. They confidently declared they would become the first detergent unicorn. They were willing to give up 10 percent of their company's shares for €200,000.
Scentme is not convincing
In a specially set up fragrance lane, the Lions were able to sniff through the eight different fragrances – and were only moderately impressed by the olfactory experience. The jury also criticized the price. At 85 cents per pod and wash cycle, the product is in the premium segment and simply too expensive for the majority of potential customers.
As the conversation progressed, it became clear that the founders had already invested large sums in building up their business, but had only managed to generate around 2,000 customers. With regard to the Munich-based company's ambitious scaling plans, Carsten Maschmeyer:
“Your business plan is more like business madness.”
He could see ambitious goals, but no sales strategy. Dagmar Wöhrl was not convinced:
“I don’t understand the product.”
There are plenty of good competitors in the detergent market, and a pleasant scent as the only obvious USP isn't enough. The other Lions agreed with this assessment. No jury member submitted an offer, and the Scentme founders left the cave without a deal.
According to the company, the Scentme founders had not actively applied for the show. Startup website It is reported that the show's editorial team became aware of the new fragrance pods and approached Scentme.
