[music playing]
- Let's tell you - Let's tell you
- the story of our youth, Indi. - the story of our youth, Indi.
It has a happy family.
They celebrate every festival together.
But when it comes to gifting,
they get worried.
There are 50 days out of 365 days a year
where everyone waits for something other than cake and flowers.
Need a good gift.
This is everyone's problem, not just Indi's.
And we've brought a solution for that.
And the makers of these gifts.
- We're from Jaipur, Rajasthan. - Oh!
[music playing]
Indigifts is new age India's gifting brand.
Where we make
If you see a Mummy Da Dhaba kitchen plate in your mom's kitchen
then her face is lit.
Plants that come out of seed rakhi,
after wearing it, when it blooms, it brings a smile.
And Aman, if Priya is angry
then not just flowers,
read Patni Chalisa from Indigifts and remember this hymn.
Gift your wife what she wants.
[music playing]
After this, your happiness is our guarantee.
Our journey started in 2017 in Jaipur.
To every house in our country.
Wow.
Amazing! Nitin, Divya, welcome.
- To Shark Tank Season 3. - Thank you.
I think you're couplepreneur.
- Yes. - You're married.
Yes.
So, who convinced whom for the business? What's the story?
I joined the business a little later.
But definitely, we have been together since it started.
Before the wedding, he gave me many gifts to woo me.
Post marriage, he's presenting Patni Chalisa.
So, before the business started
Nitin used to give you great gifts.
I have more than 100 gifts
during that span of 6 years.
Wow!
Let's edit this.
No, say it again.
I designed all the products.
- What? - Well done.
100 gifts? You mean 16 every year.
You're very romantic.
I made it because I felt for her
and I wanted to make everything special.
Will you make us cry now?
I'll bring it.
Handcrafted products with a storytelling approach
is what is missing.
[music playing]
Well done.
This is Mummy Da Dhaba.
Wow, best.
This is 'If Kar Na But Kar'.
This has Patni Chalisa.
Patni Chalisa? This is your Valentine's gift.
Karwa Chauth.
This is for Karwa Chauth.
Patni Chalisa is written behind it.
Oh.
- Have you written it? - Patni Chalisa.
- It is a work of his agony. - Oh.
[music playing]
Can you explain this? What is seed rakhi?
Seed rakhi is our trademark.
The major problem of rakhi is that after tying it,
we tend to forget it somewhere within a day.
- Yes. - It goes to the dump.
We catered to that problem. These rakhis have seeds.
- Okay. - If you accidentally drop it,
or put it in a medium,
a plant blossoms out of it.
Is this your creativity, Nitin?
So, I'm the creative person who manages the ideation.
And Divya manages the execution.
So, you manage the sales, Divya?
The business' overall structural lead generation,
defining the direction of work, I've made a framework for it.
And Divya manages the operational part of it.
And our strategic partners help us further.
Like?
Like e-trade or marketplaces,
we have B2B tie-ups with them.
So, we have to sell the price to them at transfer pricing
and then they sell it.
Let's talk about the business.
Our lifetime revenue is around Rs 45 crores so far.
I'm talking about the sales from 2017 to date.
- Last year-- - Scaling so much
in the gifting business is a big deal.
Many congratulations.
You got married and built a good business too.
How much did you make last year?
Last year's turnover is Rs 7.4 crores.
As far as I know about gifting industry,
it's big. Any idea how big it is?
- It's worth Rs 2.5 lakh crores. - Massive.
- And it's been 5-6 years. - Yes.
So, why didn't you get past all of them?
There's a Marwari mindset
that we're making good money and life is good.
But we realized that our knowledge.
product processes,
things that we've made,
we need to focus on economies of scale.
Tell me something. Is your business profitable?
We've always run a profitable business.
Last year, our EBITDA was 7.5 per cent.
so the pace at which you be creative,
- Yes. - is how your business will grow.
But you need to churn it like a machine, as a science.
Not that you have to get involved in it.
- You must have a team. - Yes.
They have to come up with a certain number of ideas,
great ideas, every day.
Like movie business.
That is what is important.
Since we're in this industry, we have set many processes.
Our head office in Jaipur.
We have built an office over 14,000 sq. ft.
So, we research on varied forms, graphics,
and utility of things.
And we have an analytics team
that researches on emotions and occasions
And our business model has been developed into a funnel.
If we talk about Rakhi,
we've made the Rakhi but the sweets,
chocolates, or dry fruits,
we can include it in our package.
And increase the average order value.
How many SKUs do you have?
We have around 5000 active products.
What's the sales online and offline?
We're starting offline sales this quarter.
So, it's a bootstrapped business.
If you get a wrong investor, it will be bad for you.
Why do you want investments?
Firstly, within 5 years,
we have made it from 0 to 10.
To make it from 10 to 100,
it can't invest another 10-15 years.
Because our processes, products, our four Ps are sorted.
Secondly, we want to expand into omnichannel
despite having a lot of data, R&D,
very creative and unique products.
The technology layer is missing.
And the most important aspect,
if want to get into customizations, it's not manually possible.
So, we have to introduce automation.
[music playing]
Give us an idea of the pricing. What's this Samosa for?
So, our average cushion is around 12 by 12 inches.
- It's priced at around Rs 299. - Wow.
Is it like people search for Indigifts...
We want to create a gifting brand.
If we wanted to do job work, then we would've been a
- manufacturing or service company. - What's your gross margin?
75 per cent gross margin.
Yes, we have created a formula
- that we won't venture below that. - Amazing.
Okay, I've decided.
I think you guys are great founders for sure.
- Thank you, Peyush. - A business worth Rs 10 crores
without any funding. The creativity is very high.
And humility is also very high.
It's a very execution-heavy business.
If you want to make it big, the competition is high.
I'm out for now.
Create a team, raise some funds.
Then we should meet again.
But best of luck.
- Thank you, Peyush. - Thank you.
The market is highly competitive.
- Yes. - And most of these things
are sold as commodities.
I've never seen it being sold as a brand.
- It's a commodity. - That's why we made the brand.
There was no brand for Rakhi before that.
Absolutely agreed. And that's why I will make an offer.
Wow.
- Rs 25 lakhs in equity. - Yes.
For 2 per cent.
Plus Rs 25 lakhs in debt.
it's difficult to raise funds in this business.
The risk is very high.
I added that premium to the valuation.
We would like to hear from others as well.
I had made an offer.
But that offer is worse than hers.
So, take her offer.
Because I don't want to get into that fight.
Thank you for making me,
and millions of people like me
look like an idiot.
By giving 100 gifts to your wife.
I can guarantee that
my company and I will surely procure gifts from you.
- Thank you, Sir. - So, all the best. I'm out.
Okay.
Your story is fascinating. You have built a great business.
From a smaller city,
it's a great opportunity to build a big gifting business.
Because you will be able to relate
to the expectations of large masses.
So, I'd like to ask Vineeta if she wants to do it together.
I'm willing to equally split this deal with you.
Let's remove the debt.
And let's make a joint deal.
- Okay. We can do equity. - So, Rs 25 lakhs each for 2% each.
Nitin, Divya, I love you guys.
Sometimes, meeting people makes you happy.
- You bring that. - Thank you.
Right? But I'll tell you something
- about the gifting industry. - Yes.
Gifting industry doesn't have 2-3 players
but every company is a gifting business.
Whether it's Titan, boAt, Lenskart, Sugar,
Bikanervala, or OYO.
- Except Shaadi.com. - Be it Cadbury.
Shaadi.com vouchers are gifted too.
- Really? - From Shaadi.com.
So, you're not competing with 2-3 players.
During the season, you're competing with everyone.
Yes.
So, I think this business can be scaled to a level,
creating cash profit
and you know, you guys should bootstrap and
grow it up to a certain level and enjoy that cashflow.
But if you still feel
that you need guidance
then this is a great offer, you should take it.
For that reason, I'm out.
- Thank you. - Good luck once again.
Love you guys.
So please tell us quickly.
We have a counter-offer for you.
No, don't even give it.
Really. It's a rich valuation.
It's a bootstrapped company. It's the first funding.
Yes or no. I'll suggest you say yes. You won't regret it.
- Sharks, deal is done. - Deal is done.
- Guys, bye! - Bye. Thank you.
[music playing]
and it's a big deal.
So, very good purpose-driven brand.
- I'd like to make you an offer. - [cheering]
[hollering] Wow!
I can't wait
to make this a big Pan-India and global brand.
Everyone said that it's CSR.
It won't mint money.
And I took a bet on the founders.
When they pitched, they were in four stores.
Today, they're in 50 stores.
It just shows that it can be scaled.
And listen, scale not just with sales growth.
This is one of those rare companies
that is PAT positive.
The response was great.
So, it will be continued till
she, us, and Rare Planet exist.
We can't call it an exit. We're starting a new journey.
In terms of achieving bigger things.
This story is a big victory
for Shark Tank India.
It's a big victory for all the Sharks.
It's a big victory for all the artisans.
We really feel proud.
That today, even our clay
is at par with China's ceramics in terms of earnings.
[music playing]
[laughing]
FuelV by Alien Versions.
FuelV is India's first smart fuel cap
that can easily replace your two and four-wheeler's fuel cap
within 20 seconds.
if they have received the desired amount of petrol
to solve such problems.
We're asking for Rs 50 lakhs for 5 per cent equity.
- And you? - Sir, I'm 18.
I'll turn 19 on 11th October.
Wow!
How did you two meet?
I started the company.
I left my house when I was starting it.
When was that?
- Two years ago. - Why?
The college I studied in
was kind of a reputed college in the Northeast.
My parents and I were both positive that I would land a job.
My parents asked me to do a job.
Since childhood, I've tried to convince my parents
that I wanted to do something of my own.
- I have tried many things in life. - Okay.
When it was time for me to decide between that and family,
then I had to leave my home.
- Did you complete college? - No.
Had I completed college, I'd be forced to take up a job.
- And my family was really pushing me. - Okay.
So, I left home and went to Dehradun.
I was an innovator since childhood.
I have another innovation apart from this,
but I discontinued it as I didn't see the business.
What had you invented?
I invented a box which was a black box
for commercial two and four-wheelers.
How did you meet each other?
I worked on this for a year.
During its development,
I was working at Innovation Hub, Dehradun.
Okay.
So, he came one day
and that was when we realised that we had similar interests.
I did not take him on board at that time though.
I observed whether he had the qualities
- and if he could... - [Sharks laugh]
- That's the fact. - Yes.
Did he have any qualities? Can he bring something to the table?
- Was he even interested? - Yes.
Gradually, we became friends.
When I explained it to him, he showed interest.
He pitched in towards the workload and financials.
Then, we made this together.
Siddharth, where did you study or are you still studying?
- From here? - Yes. You can do it online as well as offline.
- You'll get a degree. - Yes, sir. I will.
What do your parents do?
The last I remember, my parents were farmers.
- Last... As in? - Two years ago...
- Are you not in touch with them? - No.
You must be talking on the phone.
We do not.
You haven't spoken since college.
Just one time when I left home.
They were worried.
So, I called them up and said, "Give me three years."
"I'll try everything I can."
"If nothing works out, I'll come home."
They said, "Okay, do it."
Do they know you're in Dehradun?
I have no idea if they know or not.
Why didn't you call them?
It's because I had set a goal for myself
that I would go home only after I achieved something.
If I go back home without achieving my goal,
that wouldn't be nice.
Don't go home, but what's the harm in calling them?
It is not that I don't want to, I really do.
It's just that I don't know how to open up.
- You have siblings? A brother? - Yes.
- I have... - Can you not do it through them?
- [chuckles] - I could try doing that...
- Okay. - Their numbers have changed in two years.
I could do that through Instagram, but I've gone off Instagram too.
You're not making sense.
I look at the person first and the business later.
I don't get you at all.
If you... I'm out.
I don't understand you.
They must be worried sick and might be looking for you.
Please think about them.
Please go and talk to them and apologise.
This business is your goal.
Attain it,
but please establish contact with them by any means.
- Sure. - Let them know you're fine
and you're working. That's it.
- What's your background? - You're out.
- Why the entire pitch now... - Yes.
- What's your background? - You're out, right?
- What do you do? - Are you out or in?
- No. I understood the poor guy's problem. - I see.
Both my parents are professors.
- Do you live with your family or not? - Yes, I do.
What's your contribution?
Arranging for the sensors and the materials
to develop the circuits. I do all of that.
You... Are you the CEO?
- Yes. - Yes.
Suppose this is x amount of petrol that you got from the fuel station.
Let me pour the petrol into this.
If I take off this tape,
then you can see that this is around 400 ml.
FuelV will validate this reading.
- Suppose this is the fuel tank. - Hmm.
You have to screw this on like a normal fuel cap.
Let's assume this is the nozzle of the fuel pipe.
This is at a distance of 2.5 mm.
First, let us connect to the app.
You see 00 here as well as over there.
Let me pour this fuel.
You guys can see the reflection on that TV.
There it is.
- It is slightly more. - It was slightly more,
that's why the reading is slightly higher.
- Could you show us this on the scooter with that inlet? - Yes.
- No one else has made this yet. - No, sir.
You see these pin-like notches. We have them on this too.
You just have to put it like this.
- This replaces the cap. - Yes, totally.
The battery needs to be charged though.
The battery life is 12 days.
What's the price?
Rs. 3,000.
Do you sell it on your website?
in 30 to 40% of the cases,
car users suffer on account of short-fuelling of petrol.
Why don't car manufacturers provide this
in at least the high-end cars?
Why just high-end?
It costs very little, all the cars should have it.
We did research it,
but we do not know why car manufacturers...
Perhaps, because your number of 30 to 40% is incorrect.
What she mentioned used to happen earlier.
The new machines approved by the government
have very few chances of scamming.
The car industry is regulated.
If the government passes a mandate
making fuel caps or rather, fuel meters mandatory,
have you thought about what would happen to your business?
We want to be the first player in the game.
- Let me check the box. - Where did you get money to make the device?
I do not have any source of income.
I came to Dehradun with very little money.
So, I participate in competitions.
If I am lucky, sometimes I make Rs. 7,000
- or... - Could you clarify if these are entrepreneurship competitions?
They are entrepreneurship as well as innovative competitions.
How much have you won in competitions in total?
- You must have accommodation and food expenses, right? - Yes.
When I spent a year working on the device and the business,
that was the hardest thing.
During that time, I was running a coaching class
and also, teaching in a school.
What is your monthly expenditure?
The rent for the room in Dehradun was Rs. 3,500.
Is it still the same?
We bought an office in Arunachal now together.
- You've gone to Arunachal Pradesh! - Yes.
- You're in Itanagar now and not Dehradun! - Yes.
Why did you go there?
We had to set up an office.
We have to take everything seriously.
Did you move to Itanagar too?
No! I...
- I stay here. Yes. - Remote working.
Your family is in Itanagar.
Yes, that's right.
- You haven't told them you're in Itanagar. - No.
Did you move to Itanagar
because you got funds from the Arunachal Pradesh government?
Um. Not exactly. I did get some funds
- but that's not why I'm back. - What?
- Hang on. Let Siddharth answer. - Wait.
I feel you're talking in riddles and giving deceptive answers.
Tell us, Siddharth.
First, tell us where the money comes from
followed by why you went to Itanagar.
Actually, I'm a big fan of Warren Buffett.
I started a SIP
and a demat account when I was a child in my mom's name.
I had about Rs. 20 to 25 lakhs saved up.
- So, I... - What!
And you invested all the money into this business.
- Not all of it... - How much?
Around Rs. 3 to 4 lakhs.
Why did you move to Itanagar?
Every state has a Science And Technology Council.
The Science And Technology Council in Itanagar
recognised our innovation
and they gave us some initial funds to develop it.
How much was it?
They gave us Rs. 50,000 to 60,000.
The maximum funds we got were Rs. 95,000 to 1 lakh.
Ha Tade, what's your view?
Why did you go back to Itanagar from Dehradun?
We wanted to set up an office.
We were in Arunachal.
I had good connections in Arunachal.
Your parents don't know you're in Itanagar, Arunachal, right now.
They might, but I don't know.
Look, I believe you like being dramatic.
Life does not run on drama, but on lessons.
You built a great innovation and you're working hard.
Go low on the drama or the reality gets lost.
You guys are still a little cute, right.
I thought as much.
[Sharks laugh]
I think you're yet to see the world.
My suggestion would be that you work somewhere for a year or two
and learn the ways of the world.
- I am out. - Yes, sir.
Some co-founder relationships are like arranged marriages.
You meet up,
evaluate one another and then work together.
I believe your co-founder relationship won't last.
I see a trust deficit.
When you say something, it is evident from his expression
that you're lying, telling the truth or faking it.
Your numbers weren't right. The 30 to 40% statistics.
The product is good.
You don't just invest in the product but in the founders too.
- I am out. - Okay.
At first, I thought I understood what you were doing.
The product is good. The demo was nice.
Everything was going just fine.
It felt like I should help you.
Somewhere, I found myself confused.
There are so many dimensions to it
that I don't understand anything at this stage.
I am out.
I believe
that if your personal life has a lot of ups and downs,
then it is bound to impact your professional life.
You need to invest time in your personal life at the moment
and fix it.
If you cannot convince your family, how will you convince others?
Look. I want to help young entrepreneurs
but your business is not in that situation at the moment.
I am out for now. Thank you.
Thank you so much, sir.
This is good thinking in terms of innovation.
You identified an existing problem,
worked on it and found a solution,
but this is not defensible.
Going forward, either cars will instal this
or petrol pumps will put an end to their malpractices.
This isn't sustainable, right, as a business.
This is why I am out.
Today, all the Sharks are out.
Do not be disappointed.
- Thank you so much, sir. - All the best.
- Go home and make that call. - Thank you.
Yes, sir.
[music playing]
[theme music playing]
[theme music fades]
Sharks, when I was little,
my grandpa used to give me this one chocolate.
When I grew up, Dad would get me the same chocolate.
My brother also gifted me
the same chocolate for Raksha Bandhan.
I have such rotten luck, Sharks!
My boyfriend also gave me the same chocolate!
Enough! I'm sick of eating that chocolate.
Worry not, baby!
[rock music playing]
I'm here.
- Gosh! - Oh, my.
When Roccá Man is here,
then why fear?
[laughs]
to make Roccá India's biggest
and best-tasting premium chocolate brand
that will rule the world.
Can we taste them?
- Sure. - Absolutely.
It won't take time since it's chocolate.
Yes.
- May I take this? - Yes.
- To see the pricing. Thank you. - This is a pack of one.
Does this have almonds?
They all do except Pistachio.
I don't like almonds.
- This doesn't contain it. - No.
Thank you.
- Sonal. - Yes?
- I like it. - Thank you.
I'll let you know how it is the day this opens.
All of it is dark chocolate?
- Yes. - They all are.
Well done.
Nice.
The Coffee is yum because I don't prefer too sweet.
How do you know each other and...
I'll answer that.
In 2016, Sonal and I were studying in the same college
in the Management department, MBA.
Coincidentally, I used to be late.
And coincidentally, Sonal was late on the same day.
We bumped into each other at the canteen.
- Bollywood... Bollywood movie! - [laughter]
Sonal was a fresher.
It was her first year. I was in my second year.
I was an executive member of the student committee.
We became friends.
After three years, in 2019,
we had the idea to start Roccá.
Be honest. Were you pursuing her?
- We are just good friends. - Yes.
Their parents are watching the show.
Don't ask such questions.
All right, it's your personal matter.
- What's your age? - I'm 26 and she will turn 24 soon.
Okay.
Sonal came up to me.
"It was your birthday. So, I went to buy you chocolates."
There was Cadbury and Amul with a cap of Rs. 100 to 120.
Then there was Lindt, Ghirardelli and Ferrero Rocher
costing above Rs. 800 in Nagpur.
There was no premium Indian chocolate brand
in the range of Rs. 300 to 500 offering something unique.
We took our books and pens.
Sonal sat in some bakery. I sat in a supermarket.
We annoyed so many people.
"Why did you pick this chocolate?"
- Well done. - "Why Lindt?"
"Why did you pick x company?"
We got loads of insight.
Did you get insight or a whack to let people eat in peace?
Sonal is an amazing cook.
She's one of the best... Not one of them,
- she's the best cook I ever came across. - Wow.
Mummy is watching.
She has been cooking for you since you were a child.
First Mom and then Sonal.
Okay. Good courage.
I had faith in her that she would crack the product
and she did.
Then we had our customised mould made.
- There are no factories in Nagpur that make moulds. - Hmm.
We used the machine used to make Metro Silicon Moulds,
cleaned the machine overnight
and made food-grade silicon moulds.
Oh, wow!
- Then we borrowed money from home and bought a small machine. - Hmm.
- Then we started this. - Amazing.
We didn't have this product back then.
We had a dark Belgian chocolate bar back then.
Let me tell you a nice insight we received.
"It's imported chocolate so it must be expensive."
That was the best thing. I answered, "just turn it around. We make it.
It's manufactured in our city."
Do you have the chocolate bar now?
- We discontinued the chocolate bar. - All right.
We took a loan before Covid.
We decided to build a small factory.
The bank levied an overdue on us and we borrowed money from the market.
We started the factory somehow
but we made the mistake of opening it on the third floor.
We had to use a crane to install the machine and also broke the gate.
- One of the machines fell from 15 feet. - Goodness!
We could never use that machine.
We were depressed
as it was already March and summer was around the corner.
It was a factory made of tin and due to the heat,
it became as hot as an oven.
Our Shrink Rolls used to shrink even without using a machine.
Our workers used to faint
and I always felt dizzy because of extreme heat.
- Oh my God. - So we decided...
Finally, we realised that we must move out.
We had to move out.
We relaunched our brand. Rocca came into the market for the first time.
How did you get the motivation
to get back to launching the brand?
You could have left it and taken up a job.
I didn't want to do a job.
I had many dreams and I had convinced my parents.
She convinced her parents at an entirely different level.
It would have been impossible to back off.
The most important thing is he kept on fighting.
- If you keep fighting, you'll surely get results. - Yes.
There was news about The Whole Truth Foods and other such companies.
"People are showing interest
in chocolate brands in the D2C segment."
So we decided to take a chance as we felt we had a winning product.
We sent cold emails in bulk.
That's how our journey of fundraising began.
How much money did you raise and when?
Our round closed last year and we received the money in November.
- Mr Sanjay Mehta. - Yes.
You must be aware of him.
- He was one of our early investors. - Yes.
How much did he give you? What was the valuation?
I manage product manufacturing, packaging,
and also the new launches.
Rocca Man, what do you do?
I look after the technical aspects, like the website and other things.
However, nobody can beat her in design. She designs everything.
- You heap praises on her. - Branding...
[laughing]
She did the branding.
She is the best cook, she does the best branding
and everything is fine but I won't tell Mom.
Please tell us about your sales.
We did Rs. 9.55 lakhs last month in August.
What about your sales in previous years?
In July'23, we made sales worth Rs. 7.75 lakhs.
has more than 50 chocolate brands
that make sales worth Rs. 15-Rs. 20 lakhs in India in the D2C segment.
You are an MBA graduate so how do you plan to break out
of the barrier of Rs. 15-Rs. 20 lakhs?
- It couldn't be broken by 99% of businesses. - Yes.
- Anupam, is it true? - Yes, I agree. It's true.
First of all, the product.
Our channel Meta and the marketplaces help in tasting.
We make ads in Meta which are visually appealing.
The customer should click the website and order it.
So we can make a proper brand.
Yash, the question is
"What is your uniqueness which you think
can help you beat the competition?"
Our uniqueness is the taste and the indulgence factor.
Those who eat once will eat it again.
Our tagline is, "you just can't stop at one."
First of all, it's not your tagline.
"No one can eat just one" is Lay's tagline
- and you adapted it. - We are inspired. Yes.
I still didn't get the answer to my question.
Why is there resistance after doing Rs. 20 lakhs per month?
Brands want to target a particular customer segment as a niche.
Our niche is the entire India.
Our branding is such
that it targets children as well as the aged.
Rocca is best for snacking, for gifting,
and Rocca is best for self-consumption.
Didn't other chocolate brands do it till now?
Your answers reflect
that you don't have clarity.
[tense music plays]
Let's break down your industry. Okay?
Tell me the size of the Indian chocolate industry.
All the famous brands including Cadbury Dairy Milk
and M&M's are foreign chocolate brands. Right?
Their share must be the largest in the market. How much is it?
It's more than 80%.
"80%." Let's subtract it. Suppose around 500 million market remains.
- In India. - India. So it'll be around Rs. 4,000 crores.
How is the Rs. 4,000 crore market
divided between kids and adults?
- I don't have a precise number. I'm sorry. - Maybe you can guess.
- It must be fifty-fifty. - Let's suppose it's fifty-fifty.
You said your products are liked by every age group including children.
However, kids, we'll prove it here,
don't like eating nuts.
Generally speaking. They like plain chocolates.
So you are playing in the Rs. 2,000 crore market. Right?
It's meant for adults.
I don't agree as they'll convert customers from Silk chocolates.
The market owned by international brands
will gradually be taken over by Indian brands.
But there's a huge gap in the price point.
You have the same price point, right?
Is your price point the same as Silk Chocolates'?
How big a brand is Silk?
Cadbury holds 60% of the market.
your market size will reduce substantially.
Are you better at booting off?
Or are you better at marketing?
What gives you an edge over others?
So our current gross margin
The average gross margin of the food industry is 60%.
- Yes. - Theirs is the same.
He claims he can scale it up to 75%.
What do you think will help you in increasing it from 58% to 75%?
It can increase by procuring a high volume.
Right now, we buy almonds weighing hardly 400-500 kg.
The day we procure it in tonnes,
the rates will reduce drastically.
The same goes for packaging and printing. It's expensive right now.
As per the last month's sales,
60% of expenditure comprises
our overall ads which is more than 30% of our revenue.
- You spend Rs. 2 lakhs per month. - You spend 30% on marketing.
- It's not Rs. 2 lakhs. - Your sales are Rs. 10 lakhs, right?
- Rs. 3 lakhs. - Our sales are worth Rs. 9.55 lakhs. Rs. 3 lakhs.
Our shipping logistics cost around Rs. 1.17 lakhs last month.
- So it's 12%. - We take it as 15%.
- 15%. Okay. - Yes.
Guys, it seems to be one of the best brands
I have ever seen.
Today, I'm out
because this game is not limited to a few crores.
Boss, you need Rs. 40-Rs. 50 crores at least.
Companies like Ogilvy advertise for Cadbury.
Their advertising budget is Rs. 50 crores.
So you must understand. Your strategy will be the key
and also, having good team members.
Yes.
My grandfather used to say, "spend money but don't waste it."
I think this box costing Rs. 50,
won't sell much in India.
I'm out.
- Thank you. - Okay. Thank you so much.
I have two questions.
Gifting... Yes.
The exact share of Ferrero in the gifting sector
is something I don't know.
The last time I researched, it was more than Rs. 300 crore business.
How much chocolate is sold on Amazon
and online marketplaces?
- The sale is massive. - What do you mean?
- Yes. I mean... - [Anupam chuckling]
You don't know the exact figures. Please know the exact numbers.
I'm excited to know
that you are forging ahead to make an Indian chocolate brand.
However, your marketing, positioning, and your product
don't stand out to help you become a big chocolate company.
So if you get a large amount of investor's money,
it'd be difficult for you to return.
Your biggest hurdle is the innumerable local brands.
It's impossible to count the number of artisanal, nut-based
chocolate companies in this industry.
For that reason, I'm out. Good luck.
- Thank you! - Thank you.
You couldn't share the exact figure of your online market.
I think it's far too low.
Even now, chocolates are mostly sold
through general trade or gifting, up to 95%.
The online market is small because it's a low-ticket item.
Building an online business with a low-ticket item is difficult
because one needs to sell a large number of units to maintain AOV.
However, your branding, packaging, taste,
and entrepreneurship is phenomenal.
So good luck. I'm out.
You two have a fighting spirit.
You remind me of the days when I started out.
Borrow money from the market at an interest
when you have no access to capital.
I think one must bet on individuals
and not the business because individuals
build a business and you two will figure out
a way to create a successful enterprise.
Rs. 15-Rs. 20 lakh cap is a challenge for you
- and you are close to it as you're making Rs. 9-Rs. 10 lakhs. - Yes.
I think I can help you.
I'll help you position against Cadbury
in a mass premium segment
but at the same time, you must reduce your price.
It could be the supply chain or other systems to create value.
So I'll give you an offer.
- Thank you. - I'm offering Rs. 30 lakhs
at the valuation of your current round.
It means for 2.5% equity.
I'll give you Rs. 30 lakhs in debt.
Whenever you need that money,
write to me, "please send the money within 24 hours."
I'll send you the money right away.
Your interest will start that day.
Please ask for an email.
He'll write the email address on the back of the cheque.
It's for a 3-year term
- Sir, now... - It's a big opportunity but now...
My friend, collect the cheque
and exit in a flying pose like Rocca Man.
- Of course. - Yes!
- Thank you so much. - We'll serve chocolate to the entire nation.
- Sure. - Rocca Man's chocolate.
- Thank you so much. - Many congratulations, Yash.
- Many congratulations to you. - Thank you so much.
- Please continue growing. - Yes.
- Thank you. - [photo clicking]
- Thank you! Thank you! - Woo-hoo!
Rocca Man out!
[laughing]
- Great. - Let's go.
[water whooshing]
Friends, welcome to the Ask The Shark segment.
You all ask interesting questions and you help us learn from Sharks.
Today, we have with us,
the CEO and co-founder of Lenskart, Mr Peyush Bansal. Sir, welcome.
- Thanks, Rahul. - Sir, is our sofa comfortable enough?
Yes, it feels great.
You look great as you are wearing a pair of Lenskart glasses.
Lenskart helped me look handsome.
Sir, your fan Indra Prakash Purohit...