“I’ll Help You Become a Trader Joe in India”: In Shark Tank India 4, Kunal Bahl gives Patanjali’s rival a deal they can’t refuse

Kunal Bahl, co-founder of Snapdeal and Titan Capital, has made one of the largest investments in Shark Tank India Season 4 so far. Bahl, the latest ‘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 together regional specialties from across the country under one roof. When asked about the breakdown of their offline and offline sales, they said that 97 percent of their sales come from offline channels and only 3 percent from online channels currently.

During their presentation, the founders mentioned that they seek to build their brand on the lines of American giant Trader Joe’s. They also expressed interest in expanding their business presence online.

In order to achieve this goal, they sought an investment of INR 50 lakh for 1 per cent equity, resulting in a valuation of the company at INR 50 lakh. They also expect sales of around Rs 10 lakh crore for 2024.

Upon hearing this, Bahl asked them why they wanted to expand online since Trader Joe’s only sells through offline stores. In response, the founders said they want to be where their customers are, citing Patanjali and Organic India as their competitors.

Aman Gupta of Boat offered the founders a deal – INR 50 lakh for 3 per cent equity and 2 per cent equity so that he would double his principal investment. Based on this offer from Aman, Azhar Iqbal decided to enter into a partnership.

It was then that Bahl decided to offer the founders of Kiwi Kisan Window a deal they couldn’t refuse. “When I’m interested in a business, I get all into it,” Bahl said while giving the presentation.

He offered them a huge deal of Rs 2.5 lakh crore for 10% equity, 5 times the founders’ initial demand. The founders agreed to the deal immediately. While handing over the check to the founders, Kunal said, “I will help you become Trader Joe’s in India.”

The founders also mentioned that they met each other through activist meetups and started the brand a few years ago. Some of the best products that Kiwi Kisan Window sells through its physical stores include coffee from Kashmir, spices from Kerala, tea from Assam, cow ghee from the Himalayas, among others.

SUGAR Cosmetics’ Vineeta Singh and OYO Rooms founder Ritesh Agarwal backed out of the deal. Veneta was of the opinion that the brand’s numbers were too good to be true and that scalability could be a challenge.

They have very low quantities at the store level,” Ritesh said. Aman Gupta suggested the founders to work on their brand and focus on online.