[music playing]
- Hello, Sharks. - Hello.
As a parent, I've answered many of my children's questions.
For example, why is the earth round?
Why is the sky blue?
Can we eat chalk?
Why do we have to wear clothes?
[laughs]
But there's a question
that troubles every mother.
Mom, what's for food?
As the saying goes,
desperation leads to innovation.
Our story is similar.
From husband to kids,
from children to grandpa,
everybody has a different taste.
[music playing]
Some want it tasty and some want it healthy.
Some want it to be less oily and spicy,
while some want it spicy.
But mothers always prefer to feed them healthily.
So, Sharks, we decided
to bring mothers out of their kitchen
and take away their worries.
- Wow! - Applause for that!
It's a noble mission.
Greetings.
I would like to introduce
India's biggest
healthy munching brand, the Healthy Master.
And Healthy Master is a platform for healthy munchies.
- Wow! - Our snacks
are made of natural raw material like
You will ask me why millet. We use millet because
my grandpa used to always say
[laughs]
We call them millets now.
Today, we have
250+ snacks and many categories available.
[music playing]
Sharks, we are on a mission
I would like to call upon my husband
who is also the co-founder of our company.
Sure.
Please come!
Really?
[music playing]
[song playing]
"Oh, dear, hear me out."
[laughs]
Do you really call him that way?
Or was it just for effect?
I'm from a Marwari family.
That's how we say it.
Does she call you that way at home?
No.
No. She used to earlier, but not anymore.
[laughs]
Welcome to Shark Tank!
- Thank you. - It's a nice mission
- to create a junk-free India. - Right.
- It's very important. - Yes.
So, firstly tell me,
how are Shivali and Dipti related to each other?
We are apartment friends.
We were neighbours.
We know each other since 2008.
- Where are you from? - Bengaluru.
When did you start this?
2019.
When my first child was born,
he developed an intestinal problem when he was 1.5 years old.
Doctors strictly asked him to avoid outside food.
Also, he was asked to avoid all-purpose flour.
How much can you force the child to eat homecooked food?
A child wants to eat chocolates, snacks, and food outside.
So, I used to try things at home.
I would learn from YouTube, from friends,
and do a lot of R&D at home.
From cookies, snacks,
pizza, burger, everything.
I used to make it without all-purpose flour.
Very nice!
Since then, we don't buy all-purpose flour at home,
- white sugar, and white salt. - No white allowed.
- Wow! - Wow!
- Wonderful! - Beautiful!
No white for the last 15 years.
- Wow! - What's your role?
[laughs]
- Okay. - I have financial commitments.
Right?
What's your story, sir?
Sir, I've done MBA from Udaipur.
After my MBA, I started my career with Cipla Pharmaceuticals.
After working for 10 years, I started my company in 2012.
- A granite export company. - Okay.
I run it with my partner until 2019.
It's still running.
We earned a profit from the first month.
In FY 20-21, we had a turnover of 24 crores.
In FY 21-22, we took it to 40 crores.
This year, we're targeting 55 crores.
When Shivali told me about this cause,
snacking is a huge market in India.
So, I saw great potential
and decided to support her.
We worked hard in the beginning.
We put up stalls at exhibitions, make deliveries,
and that's how this platform was built.
So, you're into both the businesses.
My granite business is pretty well set up.
I have joined her full-time since February.
Shivali, did you bring something to eat?
- Yes, right away, Sharks. - Of course, sir.
[laughs]
You're always hungry, Aman.
[music playing]
- Wow! - Very nicely presented.
Sir, this is beetroot chips.
It's non-fried
- What's this? - The bhakarwadi
is purely made of wheat flour.
It's amazing.
No sugar or sugar substitutes.
In fact, no honey too.
is very difficult.
Thank you.
Forget all that.
Tell me the sales numbers for 25 crores valuation.
Sharks, we started in 2019.
What are you planning to do this year?
Our projection for the current year is 8.25 crores.
Corporate snacking is a niche market.
And corporates are now back to work.
At this scale, you can't
become the king of two markets. Which one would you choose?
[music playing]
No, we don't want to become kings but cater to it,
and grow our sales.
Tell me something. Your sales of 20 lakhs,
how is it divided?
So, you're making 10 lakhs from your site. Is it?
Yes, our website.
How do customers reach out to you?
Through Google ads, sir.
What do you put there? Their photos?
Yes, their photos
and also run website traffic search campaigns.
On average, how much order does it lead to?
The acquisition cost is Rs. 515.
Your product costs Rs. 100.
Our average order value is Rs. 1,250.
Rs. 1,250 is impossible.
[suspenseful music]
You may take an example of a big company.
We have invested in many chips businesses. Rs. 1,250 is impossible.
I have 500 SKUs as they are SUGAR cosmetics.
We have an average of 2 or 1.5.
Indian consumers don't buy 12 items at a time.
- We can show you our app. - Yes.
Many customers
- buy so many items that they have huge bills. - App?
- We have Android and iOS apps and a website too. - We have our app too.
Please show us your app.
I'm impressed to know
that you made an app for a snacks company. It's a good decision.
- Thank you! - Sharks, as soon as you log in,
the MEMBERCLUB PLAN will show you options.
Again, it's a good decision.
Let's order products from the bestseller category.
You may choose the quantity here
where the respective prices are mentioned.
Impressive. Very impressive.
Let's order 1 kg
so that all of us can enjoy it.
Then we add it to the cart.
As your order value is more than Rs. 700,
you'll get the option of freebies.
It'd be helpful when they buy the next time.
Wonderful! So they'd get it when they buy the next time.
Who is the mastermind of this app?
The mastermind for marketing is me.
- Oh, my! - It's impressive.
Did you sell them at the shops?
Sir, there's a drawback to selling them at stores.
The shelf life of our products is less as preservatives aren't used.
- What is their shelf life? - Four months.
A shelf life of four months is good enough.
- It must fall between 6 months to 1 year. - More than 6 months.
90% of India still shops offline.
You must do something to increase its shelf life if not preservatives.
[tense music]
We can open our outlets.
Gosh! You mean a fixed cost!
If you open your stores, you'd be done for.
We may do it in future.
If you solve this problem, your products can be marketed
in the general trade market having 10 lakh stores.
I want to know the unit economics of your first order and repeat orders.
[suspenseful music]
- So your burn is Rs. 2 lakhs per month. - Yes!
Your team is great and you too.
You know how to do business but I'm out for some reasons.
Your SKU count is large.
It's unmanageable. You must reduce them when your business grows.
[dramatic music]
Most importantly,
you must focus on the offline market
because your main market is offline. Thank you and all the best.
It's too cluttered
and there are innumerable players in this industry.
And you don't have a differentiator.
[dramatic music]
For this reason, I'm also out but I wish you the best.
What is your proposition? Is it the taste?
Is it your marketing strategy?
Or any other thing. I don't get it.
[tense music]
No brand has so many products on a single platform.
Usually, a company
sells five varieties to four varieties.
You consider it a strength but I think it's a weakness.
I'll give you some advice.
Try to make it more profitable
and earn cash every month.
You can crack it as you have the prowess.
Increase your gross margin
and your business too.
You don't need an investment.
You made a business of Rs. 50 crores earlier.
So you can easily grow your business to Rs. 20 crores.
I don't think you need capital. That's the reason, I'm out.
[sweeping music]
I agree with Anupam.
- I'll surely be your customer. 100%! - Thank you!
You know, your mission of junk-free India
and keeping the mothers out of the kitchen is admirable.
Your passion and understanding of the products are amazing
as you replaced sugar with dates. It's very interesting.
So I'll give you an offer.
Oh! [joyful music]
- Thank you! - Nice one.
I think all three cofounders
shouldn't spend their time in the B2B segment.
That's my condition because I think it's a distraction.
My offer is Rs. 50 lakhs
for 7.1% equity in your company.
[sweeping music]
The equity is less. You shouldn't have asked for less than 10%.
You have a lot of work like branding.
- They are back! - It's a lot of work.
So what's your decision?
Thank you for your offer.
We have a tiny counteroffer.
A tiny counteroffer!
There isn't much difference.
You won't believe me. All of them chided me for taking less equity.
- I didn't. - We'll prove them wrong.
We'll increase the current valuation up to three times in 2 years.
Oh, my!
in the next few years,
we'd grow our business multifold.
We want to give you 6% equity.
- Thank you! - Thank you so much!
- Thank you! - Thank you so much, Sharks!
Thanks! Congratulations.
- Thank you! - Thank you so much!
- Yes! - Yes!
We made it!
- We made it, Shivali! - Yes!
- We made it. - We did it!
[humming]
[bubbling]
[dramatic music]
- Hi, Sharks! I'm Shubhankar. - Hi!
Hi, Sharks! My name is Abhishek and we hail from Hyderabad.
I belong to the vintage era of 1963.
After my 40th birthday,
I stopped counting my age.
- Very good idea. - Thank you!
As a child, my passion
was to collect erasers, pencils, stamps and coins.
When we went out shopping
for items like toys, books and stationery products
when they were children,
we couldn't find quality products.
There was no concept of all under one roof.
So, Sharks, 12 years ago
I turned my passion into a business
which led to the inception of KITSONS.
[motivational music]
KITSONS is a one-stop shop
where you get quality toys,
KITSONS provides you
more than 20,000 carefully selected items
for everyone including kids and the elderly.
Sharks, we have seven exclusive stores
So, Sharks, we offer
You joined the army. You are like...
- Yes. - You served the nation and all of us are proud of you.
Why did you leave the army?
[sweeping music]
[inspirational music]
I took early retirement in 2007
after completing 22 years of service.
I lived my life like a boss.
Well done!
Hats off, sir! Amazing!
Thank you very much!
Abhishek and Shubhankar, what's your passion?
Did you have an option? Or were you forced?
I completed my graduation in mechanical engineering
and a diploma in business management.
I worked at Accenture
as SAP consultant.
I also worked at D.E. Shaw company.
When they decided to open a fourth outlet,
I decided to join them in their business.
What about you?
I pursued engineering in Pune.
- I worked for BYJU'S in the first year. - Alright.
Then I joined a start-up
whose market was mostly the US and Europe.
Then I decided to either work for the public
or for my father.
And I recently joined KITSONS two months ago as an intern.
I understand what 'SONS' means.
Because both your sons are working with you.
What does 'KIT' stand for?
Can you tell us your roles in the company?
Sir, I'm involved in daily operations.
We have automated purchase orders for those brands.
So you look after purchasing.
Sonu, what do you do?
I joined recently as an intern.
- I'm working part-time for now. - Oh, okay.
I'll work full-time by the next month.
There are many shops in Mumbai selling stationery items,
toys, art & craft and other such things in one place.
Why would people come to your shop?
The number of SKUs we have is higher.
The second reason is the quality of toys.
KITSONS is a no-China store.
I witnessed the problems faced at the LOC.
If we don't support the Indian Government, who else will?
Are all toys made in India?
Yes. We also imported from Europe in 2020.
Covid couldn't douse our hopes.
I earned money even during Covid.
The online market is the biggest threat
but since the inception of our business, every store
and every branch is profitable individually.
Wow!
I didn't spend a penny on marketing.
My conversion rate is 100%.
You mean anyone who enters the shop surely buys.
By the way, I follow a rule which could be considered improper.
Please don't feel bad
but many Hollywood films show
a stern shopkeeper.
I'm one of those.
They are too strict. No return. "If you touch something, you buy it.
If you break something, it's yours. You pay for it."
Do you run your shop like this?
I'm quite close to that. A bit stern.
[laughing]
Colonel, your business model
is quite rigid.
I want to ask your sons something.
No exchange, no returns...
Do you believe in such a business philosophy?
Sir, we don't just sell items.
Each and every item is tested before giving to the customer.
If there is a mechanical problem
or a manufacturing defect, we exchange without asking questions.
What's your revenue?
- Last year, audited revenue was Rs. 6.3 crores. - Wow!
What was your EBITDA last year?
What do you mean by EBITDA?
- Profit! - My gross profit is 35%.
Please share your sales figures before Covid.
Great! In which year did you start?
We started in 2010.
Your earning doubled because of the stores you opened.
Are the sales of your 2-year-old store increasing every year?
All of them... I won't call it a geometric progression
but arithmetic progression. All my stores are growing.
This year, your profit will be Rs. 1.9 crores. But still,
you want 50 times more valuation.
Colonel, you are a sensible person.
You called yourself stern.
Why are you trying to fool us?
[dramatic music]
There must be a reason. Please tell us.
I don't know the nitty-gritties
of a business.
I feel I'm more like Dhirubhai Ambani.
I don't understand the language used by Mukesh Ambani.
But let me tell you
that we want to open
20 company-owned stores in the next two years.
Along with that,
we plan to launch 80 franchise stores in the next two years.
And we already
have many franchise requirements.
We have investors and offers of partnership.
I have decided.
[music playing]
Firstly, Mr Reddy, you're from the Army.
I salute people from the Army. I respect them a lot!
But in every city,
there are local stores like yours.
In Pune, I trust two stores.
I have a relationship with the owner.
So, I like going there. It's an experience.
The extent of scaling for this valuation will be difficult.
Congratulations for cracking it in Hyderabad!
But it seems difficult to do pan India.
For that reason, I'm out.
Thank you very much. No problem.
I feel that in the long run
competing with a brand like Amazon
will become more challenging.
Because at the end of the day, thanks to technology,
and ability to stock millions of SKUs.
Having a variety of ranges and unique curation for retailers
might get difficult.
So, I'm not able to take a bet on it.
So, for that reason, I'm out for now.
Best of luck!
- Thank you, ma'am. - No issues.
Retail businesses are tricky.
You have a disciplinarian background, being from the Army.
So you're able to fare well.
I don't know a single person growing in this category.
If you can execute well, every business is worth it.
You might encounter problems with franchising.
Because there's pressure from the online market too.
So, if you're not able to run it with your discipline
then the business won't be profitable.
The future
won't see online and offline worlds as different.
It will be an omnichannel.
Because if I become a partner
then I would want you to launch the KITSONS website.
- May I intervene? - Yes, sure.
Due apologies.
I'm not venturing into the online market because
it's beyond me.
I don't want to get into something that I'm not good at.
But you have young sons to help you out.
[music playing]
You're aware that online is the future.
You also admit that you can't do it on your own.
Your skills are limited to this.
You can expand it to 20-30 stores.
Who will take it forward?
[music playing]
We need somebody.
Colonel, the problem is that I can't do it for you.
[music playing]
Your boys are so far
not yet ready to expand the business.
One of them is doing a part-time job.
The other one is focused on purchasing.
There's no demonstration yet
that they can scale up the business or take it online.
[music playing]
It's not easy to earn a profit of 2 crores each year.
[music playing]
So, I congratulate you on that.
I don't know how to calculate the valuation
to meet your demands.
So, I have to be out. Wish you all the best!
I'm glad that you're from the Army.
You started a shop. It's not easy because you
have no business experience. You were from a service background.
It must've been tough to manage the first shop. Right?
- No, I didn't feel so. - Why?
I enjoyed it.
I still enjoy it.
How much money did you invest in your shop?
42 lakhs.
I used 35 lakhs from my retirement benefits.
- Wow! - Wow!
You spent 42 lakhs to start a business in 2010.
How much will it cost to open a shop now?
Around 70 lakhs.
Do you invest your money or take loans?
No, I generated it and continued reinvesting it.
I have never borrowed a rupee.
It is all because of us, KITSONS.
I got it. I'm very proud of you.
I'm not too proud of your sons, sir. Sorry to say.
[music playing]
I wish that they contributed more
and would've answered our questions, instead of you.
I wish they had more answers.
They would've known
what's right and what's not.
They would've known what valuation to quote.
My recommendation to
both of you would be to take it up from him,
learn what he has given you
and make your father proud in taking it to the next level.
I speak more because
I built it from scratch, including mopping the place.
It's a respect towards your parents.
It's good to not speak a lot in front of them.
- But they also become more active. - I understand.
Then it shows like a family business.
Right now, it feels like
you have a vision that they're not yet ready to fulfil.
[music playing]
So, for all these reasons, we're out too.
So, all of us are out, unfortunately.
No problem, sir.
Probably, we will be back in season 3.
Yes.
I hope to prove you wrong.
- Thank you, sir. - Okay.
- Thanks for your time. - Thank you.
- Greetings! All the best! - Thank you.
[music playing]
Hi, Sharks. People tried hard to survive the pandemic.
Some were working from home, while some were banging dishes.
We were helpless and worried.
Because London Bubble Co.'s
126 established dessert cafes were shut down.
and 8000 kilograms of chocolate.
And that pushed me to the edge.
[laughs]
The next day, I got an idea.
[vocalizing]
And we reinvented our brand.
We launched the 2.0 version of London Bubble Co.
And we brought our cafe to your house.
It makes your house continental.
[music playing]
Tear, mix, and cook it.
Oh! That reminds me.
Are we bored
of the usual savoury snacks?
So, we're brought a range of sweet savouries.
Waffle chips.
Do you know what's more exciting, Sharks?
All our products are 100% vegetarian.
the biggest company in the sweet savoury category.
So, we're asking for
And let me share a personal story with you.
eat breakfast together.
And I'm very Indian. I like poha, upma,
dosa in my breakfast.
But my sons
want waffles and pancakes every Sunday.
- Wow! - Amazing.
And like you just said, whipped cream, spreads,
fruit on top.
I mean the way they decorate their waffle and pancake.
Some of my best memories as a parent
are associated with the waffles and pancakes.
- Yes. - So, your pitch
brought a big smile to my face.
Thank you.
Negotiate your valuation.
[laughs]
I felt that she was about to make an offer.
- 126 cafes. - Yes.
How did you shut it down?
What happened to the franchisees and manpower?
We had 292 employees.
They were working across 126 stores.
Plus the rent was high
and the landlords weren't ready to reduce the rent.
[sweeping music]
All these things took a toll on us and we decided to lose.
We asked the franchise owners
that we'd go for stop-loss and start closing the stores.
[sweeping music]
When did you decide
to pivot your product from cafes
and present a continental feel to India?
During the lockdown, we had 30,000 kg of flour with us.
We could either sell our products
but the cafes were closed
Thanks to our government
for declaring packaging as an essential category.
Packaging was already in the process
so we sent our design to the packaging team
and we received these small packets within 25 days.
[upbeat music]
We hired labourers on daily wages and started packing items.
We approached modern trade outlets
Darshan, what's your age?
Sir, I'm 31 years old.
- What about you? - 30!
How come you opened around 150 stores
at such a young age?
How many years did you spend?
How did you start? And why did you start? There must be a story.
- I studied at Cardiff University. - Okay.
When we visit London's Oxford Street and other such places,
we get waffles as binge-eating snacks.
Both of us were passionate about food.
We were planning since 2013 to start a business related to food.
Ultimately, we conceived the concept of the London Bubble Co.
[dreamy music]
How do you two know each other?
We two used to live in a tenement.
We were born there.
- You two were raised in a tenement! - Yes, sir.
- Very good! - And you went on to get admission to Cardiff. Fabulous!
- Sir, my dad told me something about a rocket. - Okay.
Why does it go up? It's propelled by the fire at its base.
Amazing! Well said.
- I'll note it down. It's something to remember. - Very nice!
Aman, I give franchises so I could charge a royalty.
[guffawing]
You are a true entrepreneur. A true entrepreneur.
The way you turned around your business during Covid
is an important skill set
- and cultural value. You must retain it. - Sure!
Lakhs of cafes shut down
- during Covid. - That's right.
I think not even 1% of those eateries
managed to pivot their business,
re-branded it and re-packaged it
to scale up. Very impressive!
[happy music]
These are fresh pancakes.
- Wow! - It's Orange Kitkat Spread and this is Dark Bounty Spread.
It's dark waffle chips
and these are classic waffle chips.
- So these two and both these are available in packet forms. - Yes!
- These are available in both formats. - These are...
So it can be made with the batter.
Pancake is yummy.
Fantastic! Thank you, guys!
- Thank you! - Thank you, Anupam!
- I ate just one, but she ate all of them. - Yes!
The way Betty Crocker desserts are made. No effort is added.
Nothing.
'These are our delicious, Pancake and Waffle Premixes.'
'If you want to make pancakes,'
'mix water and milk.'
'And if you want to make waffles,'
'you just need to mix water with this batter.'
'First, empty the packet of batter.'
'Then add water to it.'
'And then add milk which is half the quantity of water.'
[thrilling music]
'Mix it evenly so that not a single lump'
'is seen in the batter.'
'Then pour the batter on a preheated pan'
'and give it a bake-time of two minutes.'
'When you see bubble formation on the pancake,'
'the pancake is ready.'
'Use a spatula to turn it over.'
'Heat it for just one more minute and then remove it from the heat.'
'You may garnish it'
'using chocolate chips, chocolate syrup,'
'maple syrup, Nutella and sprinklers.'
'Your delicious, yummy'
'and delectable pancake is ready.'
I have a simple question.
The Indian diet...
She lived in the US for eight years
but according to the Indian diet,
we can't eat waffles as breakfast generally.
[suspenseful music]
These products can be eaten for breakfast or as snacks.
People normally eat Maggi Noodles when they are hungry in the evening.
Similarly, Pancake Premixes can be used to make pancakes instantly.
It's not difficult to make it.
So it can be used as a snack
anywhere and at any time.
So you think that pancakes will become
our staple diet for breakfast?
Definitely, people will prefer them
- for breakfast and snacks. - I want to ask one more thing.
We were at our friend's place
and my daughter ordered mini-pancakes.
Her mom said, "please don't eat more than three."
I asked, "Why not?"
She answered, "it isn't healthy."
[sweeping music]
Is it true
that people don't consider pancakes to be healthy?
Mothers often say this
- as children may get a blood sugar spike if they overeat. - Correct!
He insists on eating pancakes every morning which contain syrup too.
It's really unhealthy!
I know he wants it daily
as the trend is changing but it's surely unhealthy.
I have gluten-free oats
and multigrain batter too.
I'd launch them in future.
Focus on the taste and educate the masses.
- Right! - Please don't be distracted by health issues.
Not everything needs to be healthy.
People have a choice whether they want to eat or not.
Please share your sales figures.
Last month, we made sales of Rs. 11 lakhs.
Where did you sell?
Sir, we sold through our distributor channel.
Like Mumbai, Gujarat,
Kolkata and Bengaluru.
Why are the sales low when you are available in 800 stores?
[tense music]
Three to four months ago
we realised that our brand is an established brand.
So we introduced automation
into our factory to maintain it in a better way.
We modified our concentration
so that our sales orders could move faster.
A big distributor in the southern region
wanted our product but his first order
was worth Rs. 30 lakhs.
We didn't have the support system to deliver an order worth Rs. 30 lakhs.
to strengthen our back-end support
instead of increasing our sales.
Now that our manufacturing is strong, our focus
for the next 6 months is sales as we aren't worried about production.
Our capacity used to be 2,000 packets per day.
We have now enhanced it to 45,000 packets per day.
I think pancakes and waffles
are a growing market.
It's loved by children nowadays.
Somehow, your story appears to be
imaginary and there is a lack of transparency.
I don't have a conviction.
[suspenseful music] I'm out.
If you want to market this product
to the masses and promote eating waffles
and pancakes at home,
how will you educate the masses?
We will develop a marketing strategy
and use social media, television ads
and posters to tell them that it can be given to children in lunch-boxes.
One may eat pancakes in the evening instead of noodles.
- Convenience too. We just need to add water. - Yes. That's right.
The consumer must realise how easily it can be prepared.
- Will you be able to do it? - Yes.
- Are you confident? - Yes.
So I'll give you an offer.
You might not be confident but she is confident.
I'm confident that we can
grow your business together.
Because I feel that India is ready for it.
Let's not bring up the health angle.
We can dominate the market in the indulgent food category.
Your sales are Rs. 1 crore. Right?
The valuation considered is 3 to 5 times the sales in the D2C segment.
So I'll give you the upper limit which is five times your sales.
- Wow! - Wow!
Wow!
I'll give you a valuation of Rs. 5 crores.
So my offer is Rs. 75 lakhs
have been working together for so many years
so you are surely perseverant
Rs. 11 lakh sales are too low.
Something is surely holding you back.
Please reflect upon it.
I wish you the best.
I'm out.
As entrepreneurs, you two are strong
but I don't think
that it'd become a regular breakfast item in future.
- So I'm out. - Alright.
you have agility too as you turned around the business during Covid.
You two have the fire in you and you are problem-solvers too.
You'll surely grow your business.
The offer given to you by Namita is a rich one.
I can't match her valuation even if I try.
So I'm out.
My cheque is ready. Please decide quickly.
[clock ticking]
Accept it!
Namita, we are ready to accept your offer
- but we... - But!
we may explore another state and city with that money.
Listen up. I know plenty of bankers
and I can easily provide debt to you.
I'll get debt sanctioned to you
but first, let's finish this.
We can discuss those things once we become part
of the London Bubble Co family.
- Shall we? - Yes!
Alright, we accept the offer.
Rs. 11 lakh sales won't suffice.
[vocalising]
London Bubble Co! [vocalising]
Well done, guys! Best of luck. I wish you the best.
[vocalising]
[ethereal music]
Everyone likes ice cream.
Whenever I sit with my tub of ice cream to eat it,
Tyra makes a cute face and sits before me.
Sharks, you must be wondering who Tyra is.
Tyra is my cute, fur baby puppy.
She sits before me,
makes cute faces, drools
and paws me to get my ice cream.
When I came to know
that dogs aren't allowed
to eat milk, sugar, colour and essence,
I thought that my Tyra
must get the happiness of eating ice creams
the way everyone else enjoys it.
We make ice cream premix powders for dogs.
The pet parent may feed fresh ice creams to their pet
anywhere and at any time.
Very good.
It's made of coconut milk powder
with the help of Waggy Zone.
We want every dog
in the world to eat Waggy Zone ice creams and wag its tail.
[laughing]
So my ask is
Anupam is allergic to milk just like dogs.
Your target market expanded just now.
- Darshan, welcome to Shark Tank. - Thank you!
So, the entrepreneurship journey
that you've embarked upon. What were you doing earlier?
Which city are you from?
What's your educational qualification?
I'm from Mumbai. My father owns an ice cream factory.
Okay.
- Now, I get it. - I was working with my dad.
Is it a known brand?
- No, we do B2B sales. - OEM.
- So, rich dad. - Yes.
Coming from a background of ice creams,
I realised that
we go to veterinarians
so during the months of October,
and other months
when there are seasonal changes, dogs stop eating well.
- Or they eat less. - Hmm.
So, the doctor used to ask us to mix it with
vanilla ice cream and feed.
So, once I just asked him
that if they're not allowed to have milk and sugar
then why is vanilla ice cream prescribed?
So, the doctors told me that there's no option.
And that actually calms their tummy and relieves acidity.
It helps with the administration of medicines as well.
So, we prescribe vanilla ice cream.
So, that's how I actually
for Tyra started making yoghurt options in ice cream.
And other ice cream options.
I don't cook generally.
I use a lot of pre-mix powders.
- Meet Vineeta. - Welcome to the club.
Thank you.
So, I decided that if everything can be available in powder-format
then why not ice creams?
We want to take our dogs on a travel
and it's easier if I
have something that I can pick on the go.
I can just share it, give it.
Happiness. If you want, I can show you.
Yes, let's see the product.
- Can humans eat it too? - Yes.
Okay.
Would you like to...
- Which one is the powder? - The one in front.
[music playing]
Does this ice cream have chicken?
Yes, we add pieces of chicken in the ice cream.
Because a few say that they want
chicken and fish pieces.
200 rupees can't be correct, Darshan.
Yes, it is 199 rupees.
Why don't you sell the powder like whey protein is sold?
Why do you sell it like this? It's expensive.
But the concept was that
you can tear, mix, freeze and give it to your dog
even on a trip. You can make it anywhere.
The market for dogs
The entire pet market in India
according to my knowledge,
is between 4000 and 5000 crores.
- In that, 60-70% is food. - Right.
So, you're not replacing food.
You're a treat, right? Do you agree?
Yes.
So, you fall in the other 30%.
So, it's 1500 crores.
That's it, as far as the market size is concerned.
Right.
And there are many established players and brands.
You're trying to create a new category in a small market.
- Right. - At this price point.
- Right. - I think it's impossible.
[music playing]
So, we are available in
196 pet stores in India.
And that has given us almost,
for this year's quarter,
we are selling 3500 pieces per month.
Wow.
On average.
We closed last year at 24 lakhs.
We launched our website in April.
To test how it works if we directly supply to customers.
So, that also, uh,
last month we made sales of 66,000.
Post monsoon, it's off-season for us.
So, Darshan,
you're saying that pet parents feed
a scoop of ice cream worth 200 rupees to their dogs.
Yes.
It's double the price of Magnum.
Magnum is worth 100 rupees. This is for 200.
[music playing]
I'll tell you the truth.
Mother Dairy ice creams
are the cheapest and the best!
Right.
Magnum is different.
Forget Mother Dairy, you will find vegan ice creams too.
An ice cream worth 200 rupees. I will think twice before eating it.
And I buy it if it's on buy one, get one free offer.
[laughs]
I don't eat such expensive ice creams.
And I wouldn't want my kids to eat such expensive ice creams.
You're telling me that pet parent
feed ice creams worth 200 rupees to their pets.
Yes, they do. Last year, we sold 35,000 pieces.
[music playing]
What's your margin in this?
Sir, the gross margin
that is, after the production cost
my margin, if I sell through retail sections
I'm out because
the TAM is small and the price is too high.
- But, all the best. - Thank you.
Look, Darshan, I'm out.
As I said earlier, I can't digest ice cream worth 200 rupees.
Whether it's for me or my pet.
All the best! Keep smiling.
[music playing]
Darshan, explain to me
where the business lies in this.
I don't see any business.
I just see passion.
Your father had an ice cream factory.
You had some understanding of the business.
Your dog asked you for an ice cream
and you couldn't give it.
So, you created ice cream.
Earning 1 lakh a month is not business.
And it's such a small market.
How will you build a business? I'm struggling with this.
You're saying that sales worth a lakh
is not a business because
this year, we have identified
that the ice cream is a hit.
Pet parents like ice cream and dogs are eating it.
Look, stories can justify any business.
[music playing]
You stated a valuation of 10 crores. What does it mean?
It means that you will build a business worth 100 crores
to return our money. How is that possible?
So, as I mentioned,
even now, we're only in 200 stores.
- But during seasons... - Okay, let's say 25 lakhs.
Let's assume.
Yet, where is the business, Darshan? You're not getting me.
So, I will repeat.
It's just passion.
You're out of touch with ground realities.
Try to understand India.
Most people in India,
pet parents make food at home and feed their dogs.
- Right. - You're talking about ice creams.
So, you need to reflect on this. Good luck to you! I'm out.
Thank you.
So, Darshan, I'm out of this.
I have a similar suggestion. Reduce the price point.
I think the making cost of this cup
is around 10-12 rupees, if not more.
Okay.
Instead, if you can sell it in paper bags
where each serving must not be more than 30-40 rupees.
Then it can become a daily treat.
And build a habit too.
Right now, it's niche and very expensive.
It's for the rich.
And the market is currently limited.
So, think about it. For now, I'm out.
[music playing]
Look, I think it has a greater scope in the global markets.
And all the international players
will be priced more than you.
And the global market can be big.
Right.
So, I think you should explore that route.
In India, you will have to reduce the price and the market is small.
You won't be able to build a big business here.
So, I'm out because it's at an early stage.
- Thank you. - Okay.
Best of luck, Darshan!
Love your passion for the category.
Thank you so much.
Bye.
Vineeta, on SharkXperience today,
Janhavi from Panaji has a question for you.
It's a world of equality.
Yet, sometimes,
a woman entrepreneur is not taken seriously.
How can we deal with this?