The new episode of 'Shark Tank India 3' witnessed a flurry of excitement as the gourmet popcorn brand, 'Popcorn and Company' sealed a lucrative deal worth Rs 75 lakh with shark Namita Thapar.
he new episode of 'Shark Tank India 3' witnessed a flurry of excitement as the gourmet popcorn brand, 'Popcorn and Company' sealed a lucrative deal worth Rs 75 lakh with shark Namita Thapar.
However, tensions ran high when the pitcher silenced shark Peyush Bansal, sparking a reaction that left Anupam Mittal visibly frustrated.
The founder of 바카라Popcorn & Co바카라 Vikas Suri started his pitch, saying, 바카라Popcorns sold in 99 per cent of the multiplexes use our machines, our seeds, and our spices. 바카라Munna Bhai is incomplete without Circuit바카라. Similarly, the experience of watching a film is incomplete without eating popcorn. We can't enjoy a film without popcorn. When 바카라Sholay' was released 50 years ago, salty popcorn was sold in small packets. And even now, when films like 'Jawan' and 'Pathaan' were released, popcorn was sold in cinemas.바카라
바카라For instance, caramel, cheesy sriracha, and butter salted popcorn. However, nowadays, people don't just watch films in the theatre. They also watch films on OTT at home. So l decided to deliver the experience of popcorn to people at home. And that's how The Popcorn Company was born. Popcorn & Co. deliver both ready-to-eat and ready-to-cook popcorn,바카라 he said.
He asked for Rs 75 lakh for 7.5 per cent equity.Namita (Executive Director of Emcure Pharmaceuticals Ltd) said: 바카라I go to the theatres along with my family regularly. All of us want popcorn. My children always prefer the caramel-flavoured one. I like the butter salted popcorn and so does my husband. You rightly said we want the same experience at home. You have a great business and a great product.바카라
바카라When did you begin your journey,바카라 asked Namita. Replying to her, Vikas said: 바카라Ma'am, actually my journey began in 2019. I used to live in the US. After returning to India in 1996, I launched a company called 바카라Kitchenrama바카라, which designed hotels, restaurants, catering companies, and food courts. I also provided them with equipment.바카라
바카라Earlier, while working in the US, I used to work for a similar company called 바카라Gold Medal바카라. I used to export popcorn to the whole world while working there. That's how the whole association started,바카라 shared Vikas.
The founder also owns another venture -- 'Kitchenrama', which imports and distributes machines, popcorn kernels and spice mixes to other businesses.
Vikas then treated the Sharks with the popcorns.
Anupam (Founder and CEO of Shaadi.com) said: 바카라Boss, the Strawberry Popcorn is a class apart. Generally, I think a few food items including coffee and popcorn shouldn't be flavoured. But this has a solid taste. It's more suitable for couples on the Valentine's Day.바카라
Vikas replied: 바카라We make stupendous sales on Valentine's Day.바카라
Namita then offered two conditions to the founder -- Firstly, no new company-owned or franchise QSR kiosks will be opened in the future, secondly, seasonings will be the primary focus.
Aman Gupta (Co-Founder and CMO of boAt) said: 바카라My suggestion is to know your competition better and also your numbers. It's not my USP and it's an expensive category for me. So I'm out.바카라
Peyush (Co-founder and CEO of Lenskart.com), went on to say, 바카라Isn't there a kiosk chain in the popcorn business? I'm surprised because the real margin is in the retail market. Its manufacturing cost is less than Rs 20. It's a business with a 90 per cent margin: I'm saying hypothetically. If your sales are worth Rs 6 lakh, your gross profit should be Rs 5 lakh.바카라
바카라Suppose I pay Rs 1 lakh of Rs 5 lakh in salaries. In reality, I could be making a 30 per cent profit from a kiosk. The cost of setting it up... That's not hard,바카라 said Peyush.
That바카라s when the founder Vikas said to Peyush: 바카라Shhhhhh바카라Š..바카라, leaving everyone in shock.
Vineeta Singh (Co-Founder and CEO of SUGAR Cosmetics) said: 바카라No! No! No! Aapne chup kara dia unko (You just shushed him).바카라
Anupam said: 바카라Did he say that?바카라
Vineeta asked Vikas: 바카라Were you a teacher or in the army before?바카라
Anupam lost his cool and said: 바카라Sir, why are you here? You are Vikas Suri. The one who knows everything. We have been here for three years. Do you know this? Do you know about our work? You shushed a Shark abruptly here.바카라
Peyush said: 바카라It's okay. He is older than me.바카라
Anupam said: 바카라Umar ki baat nahi hai, seat ki izzat hoti hai (It's not about age. Position matters).
바카라Vikas apologised, saying, 바카라I'm sorry if I hurt you, but I didn't really say that.바카라
Anupam then said: 바카라You know what we do. We invest money and give advice because we are experienced. We open a few doors. We help your business grow in the quick commerce segment. Simultaneously we learn too. After meeting you, I feel that you lack learning agility and humility. How will we build a business together?바카라
바카라Suri, your business structure is messy, besides all the personal issues I pointed out, That's one big reason I'm out,바카라 added Anupam.
The owner finally sealed a conditional deal with Shark Namita at Rs 75 lakh for 15 per cent equity plus 3 per cent royalty until Rs 75 lakh is recouped.
바카라Shark Tank India 3바카라 airs on Sony LIV.
