🦈 A New Shark on Shark Tank?
Shark Tank India is getting a new guest shark. And here is his story.
A new (guest) shark is entering Shark Tank India.
Vikas D Nahar.
You may not have heard of him but you most probably know his company…
Happilo!
The brand is a Shark Tank S2 sponsor!
Its journey has been very interesting.It started in 2015 with just Rs. 10,000 and 2 employees.
And currently it does a monthly revenue of Rs. 40 crores.
The best part? It is profitable!
Let's walk down Happilo's path.
🔍 The Origin Story of Happilo
Happilo started with a very strong "WHY": Providing healthy snack options to India.
This was a super strong proposition because:
80% of Indians are micro-nutrient deficient.
1 in 4 Indians are overweight.
The market trends also validate the demand of healthy snacks:
Research suggests 43% of Indian millennials are spending more on healthy snacks.
The healthy foods market in India is set to be worth $30bn by 2026.
So, Happilo's dry fruit, nuts and trail mix offerings became super popular.
What else worked out for Happilo?
There were no major players in the organised dry fruits space. Dry fruits were mostly sold by unorganised players or wholesellers. Even today, there’s not a lot of competition from big names in this space.
Before Happilo, modern millennials often found dry fruits inaccessible and sometimes also unaffordable.
In fact, before discovering Happilo, Team ReadOn solely depended on parents’ parcels for dry fruits!
By offering smaller packages and dry fruit bars priced at Rs. 30, Happilo is making it easier for more people to buy dry fruits, nuts and other healthy snacks.
Now, Happilo should also get some (nutty) brownie points for its marketing strategy.
💵 Happilo’s Marketing Strategy
Happilo’s advertising strategy has also been pretty interesting.
It started with a below-the-line marketing strategy.
That means marketing through exhibitions, free samples, and door-to-door marketing.
This allowed it to get the word out at a lower cost and rake in profits.
And now that it has money...
It is spending on above-the-line marketing:
Shark Tank Ads, becoming a sponsor title to Rajasthan Royals and whatnot.
This is helping it build a brand name and get more leads.
But several brands are now entering the healthy foods space, including many big names.
So, will Happilo be able to compete with them?
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See you tomorrow, smarty! 🤓
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