In a recent episode of Shark Tank India Season 3, viewers were introduced to a variety of ambitious brands, among them an artisanal Feni brand that caught the attention of the sharks.
Founded by siblings Yash and Tulika Sawarderkar, the brand is a newcomer to the market, having launched just six months ago. The duo shared their family's authentic recipe for Feni, aiming to secure an investment to help their brand achieve legacy status and international recognition.
The Sawarderkars sought Rs 1 crore for a 5% equity stake, valuing their company at Rs 20 crore. Their story began with Yash's desire to introduce distinctly Indian alcohol to the global market, inspired by a colleague's curiosity about Indian-based alcohol. This led to the revival of their ancestral Feni recipe.
The pitch sparked interest among the sharks, particularly Deepinder Goyal, who saw potential in the brand's ambition to position Feni alongside internationally recognized spirits.
Despite concerns about the brand's current market position and low gross margins compared to other alcohol brands, Goyal recognized the opportunity for growth and brand establishment.
Anupam Mittal expressed admiration for the brand's packaging and vision but hesitated to invest due to doubts about the business's profitability. However, he offered to provide guidance to the founders.
In a tense negotiation, Goyal initially offered Rs 1 crore for 10% equity, followed by a second offer of Rs 2 crore for 15% equity. After a counteroffer from Yash, Goyal made a final offer of Rs 2 crore, which was accepted, marking his first investment in the artisanal Feni brand.
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