‘I’ll help you become Trader Joe’s of India’: On Shark Tank India 4, Kunal Bahl gives Patanjali rival a deal they couldn’t refuse

Snapdeal and Titan Capital co-founder Kunal Bahl has made one of the biggest investments so far in the fourth season of Shark Tank India.Bahl, the newest ‘shark’ in the tank, has made a huge investment in Kiwi Kisan Window, a health food brand.

The founders of the brand, a couple from Uttarakhand, said that their brand brings regional specialties from across the country under one roof.When asked about the breakdown of their offline and online sales, they said that 97 percent of their sales come from offline channels and only 3 percent is currently online. from the waves.

In their announcement, the founders stated that they are looking to build their brand along the lines of American giant Trader Joe’s, and they also expressed a desire to expand their business’s online presence.

To achieve this goal, they sought an investment of ₹ 50 lakhs for 1 percent equity, valuing the business at ₹ 50 crore.They further projected sales of ~ ₹ 10 crore by 2024.

Hearing this, Bahl asked them why they wanted to expand online since Trader Joe’s sold exclusively through offline stores.To this, the founders said they wanted to be where their customers are, citing Patanjali as their competition. and Organic India.

BoAt’s Aman Gupta offered the founders a deal of 50 lakhs for 3 percent equity and 2 percent royalty until he doubles his principal investment.With this Aman’s offer, Azhar Iqubal decided to partner.

That’s when Bahl decided to offer the founders of Kiwi Kisan Window a deal they couldn’t refuse.

He offered them a huge deal of 2.5 million rubles for 10 percent equity, which was 5 times the original demand of the founders.The founders immediately agreed to the deal. Kunal said while handing over the check to the founders. “I’ll help you become India’s Trader Joe’s.”

The founders also mentioned that they met each through activist meetings and started the brand a few years ago. Among the top products that Kiwi Kisan Window sells through their brick-and-mortar stores are kahwan from Kashmir, spices from Assam, Himalayan cow. oil etc.

SUGAR Cosmetics’ Vineeta Singh and OYO Rooms founder Ritesh Agarwal balked at the deal.Vineeta felt the brand’s numbers were too good to be true and that scalability could be a challenge.

Ritesh said that they had quite low volumes at the store level. Aman Gupta advised the founders to work on their branding and focus online.