What Happened to Nerman After Shark Tank Vietnam? The $1M Deal That Almost Didn’t Happen

In 2021, a bold Vietnamese startup Nerman appeared on Shark Tank Vietnam Season 5. The founders pitched a line of grooming products designed for Southeast Asian men. They had a strong sales record and a clear vision. By the end of their pitch, they secured a $1 million investment for 27% equity, placing their company’s valuation at $3.7 million.

But just weeks later, headlines told a different story. One of the Sharks backed out, and public accusations followed. What happened next could have ended the startup. Instead, it became a case study in smart decision-making and resilience.

Here’s the full story of Nerman—what happened after Shark Tank, how they turned controversy into growth, and where they are today.

What Is Nerman?

Nerman was founded in early 2021 as a men’s personal care brand. The company focuses on grooming products made for Vietnamese and Southeast Asian men.

Key highlights:

Products include body wash, skincare, deodorant sprays, perfumes, and mouthwash.
All products are made in Vietnam with materials imported from Europe.
Nerman offers an AI-based skin assessment tool that recommends personalized routines.
Their main audience is young, image-conscious Southeast Asian men.

Nerman’s Shark Tank Vietnam Pitch

During Season 5 of Shark Tank Vietnam, the three co-founders — Dang Thanh Thinh, Nguyen Van Nhat, and Ho Xuan Hai — presented impressive numbers:

Revenue in 2021: $848,000
Pre-tax profit margin: 10%
Q1 2022 sales: $1.3 million
Units sold by early 2022: Over 330,000

Impressed by the growth, Sharks Nguyễn Xuân Phú and Nguyễn Hòa Bình agreed to invest $1 million for 27% equity. This valued the company at approximately $3.7 million post-money.

But the deal did not go as planned.

The Post-Show Fallout: Why the Deal Almost Failed

After the episode aired, Shark Bình publicly accused Nerman of using Shark Tank Vietnam merely for media exposure. He claimed the founders failed to follow through with due diligence and avoided cooperation, suggesting the team was only interested in the PR boost.

In response, Nerman CEO Thanh Định posted a statement on Facebook to clarify the situation. He emphasized that the deal only collapsed with Shark Bình—not with Shark Phú. The delay in finalizing due diligence, he explained, was due to an unexpected surge in demand after the show aired.

The company’s website traffic increased by 20 times, and daily revenue quadrupled. Their small team of just 20 employees struggled to keep up with the sudden growth. Because of this, Nerman requested a delay in the due diligence process so they could focus on fulfilling customer orders.

Shark Bình rejected the delay and backed out of the deal. As a result, Nerman chose to proceed only with Shark Phú, whose strong experience in retail made him a better strategic partner for the company’s rapid growth.

The Shark Tank Effect: Growth After the Show

Despite the fallout, Nerman’s appearance created a powerful wave of growth. Some key outcomes:

E-commerce sales doubled.
Influencer content expanded to over 300 videos per month.
The brand reached 10 million viewers monthly.
Conversion rates averaged 7% and reached 11% on Shopee.

Instead of seeking new investors, Nerman focused on fixing operations and scaling smartly.

From Online-Only to Retail Success

Nerman started as a digital-first brand. But they quickly realized the limitations of selling personal care products online, especially items like perfumes and deodorants that depend on scent.

By September 2022, Nerman had entered more than 1,000 retail stores across Vietnam.

Their retail partners include:

Guardian
Hasaki
An Khang Pharmacy
30 Shine
7-Eleven and Circle K (added in mid-2023)

This offline expansion helped Nerman reach new customers and reduce their dependence on online sales.

Shopee Success and Market Leadership

Nerman didn’t abandon e-commerce. Instead, they doubled down on platforms like Shopee. As of late 2022:

Nerman held a 34.8% market share in men’s care on Shopee Vietnam.
They earned over 116,000 verified reviews with a 4.9-star average.
Their top-selling product combos moved over 63,000 units.

They even outperformed global brands like Gillette, Xmen, and Romano on the platform.

Product Range and Bestsellers

Nerman expanded its offerings with products that appealed to a wide male audience:

Body wash and face cleansers
Deodorant sprays (notably the “First Date” scent)
Perfumes, mouthwash, and breath sprays
Gift sets and bundle packs

Their gift and combo strategy increased average order value and boosted repeat purchases.

Financial Performance and Valuation Overview

Here’s what we know about Nerman’s financial journey:

Year	Revenue	Highlights
2021	$848,000	Achieved 10% pre-tax margin
Q1 2022	$1.3 million	Sold 330,000+ units
2022 (Projected)	$10.2 million	Expanded offline and on Shopee
2023–2025	Not disclosed	No new fundraising reported

Other financial insights:

Total known funding: $1.05 million (Shark Tank + VSV Capital)
Valuation in 2022: Estimated $3.7 million
Estimated 2025 valuation: Unknown, but likely higher based on growth and profitability

There is no record of additional funding, which suggests Nerman is now operating from profits.

Regional Expansion Plans

Nerman is working toward becoming Southeast Asia’s top men’s grooming brand. Their regional strategy includes:

Testing the Thai market with $30,000 in early revenue
Planning market entry into Indonesia
Focused expansion across ASEAN markets before attempting global growth

The team is taking a cautious, data-backed approach before scaling further.

Business Lessons from Nerman’s Story

Strong publicity can overload operations if systems aren’t ready
Not every investor fits your vision, even if they offer funding
Local knowledge can beat global brands when applied strategically
Influencer marketing works best when focused on conversions, not just awareness
Shark Tank is exposure, not a shortcut — long-term growth depends on execution

Conclusion

Nerman’s journey after Shark Tank Vietnam has been full of challenges and turning points. The $1 million deal almost failed, but the company used the attention to build something stronger.

Today, Nerman is:

A leader in Vietnam’s men’s grooming space
Present in over 1,000 retail locations
Dominating online marketplaces like Shopee
Expanding carefully into other Southeast Asian markets

By focusing on execution, strategic retail partnerships, and influencer-driven growth, Nerman turned a media controversy into long-term success.

TL;DR (Too Long; Didn’t Read)

Nerman appeared on Shark Tank Vietnam and secured a $1M deal, but only one Shark followed through. Despite the drama, the brand grew rapidly into Vietnam’s leading men’s grooming company, dominating Shopee and expanding across Southeast Asia.

FAQs

Is Nerman still in business in 2025?

Yes, Nerman is still active and growing in 2025. The brand has expanded into over 1,000 retail stores and continues to lead Vietnam’s online men’s grooming market.

Did Nerman actually get the $1 million from Shark Tank Vietnam?

Nerman secured a $1 million deal on the show, but only Shark Phú followed through. Shark Bình backed out after a post-show dispute.

Why did Shark Bình cancel the Nerman deal?

Shark Bình accused Nerman of using the show for publicity and not cooperating with due diligence. Nerman responded that they were overwhelmed with orders and chose to work with Shark Phú instead.

What is Nerman’s estimated net worth or valuation now?

While the exact valuation hasn’t been publicly updated, Nerman’s revenue growth and retail expansion suggest its valuation has increased well beyond the $3.7 million post-money figure from 2022.

What products does Nerman sell?

Nerman offers body wash, face cleanser, deodorant sprays, perfumes, mouthwash, breath sprays, and gift sets—all tailored for Southeast Asian men.

Where can I buy Nerman products?

Nerman products are available in over 1,000 retail locations across Vietnam, including Guardian, Hasaki, and 7-Eleven. They’re also available online on Shopee and other e-commerce platforms.

Has Nerman expanded outside of Vietnam?

Nerman has begun testing international expansion, starting with Thailand, and plans to enter other Southeast Asian markets like Indonesia in the near future.