Revolutionizing the Snacking Industry with Tagz Foods

Tagz Foods is a startup that has taken the snacking industry by storm with its innovative approach to potato chips. Founded by Anish Basu Roy and Sagar Bhalotia, the company has launched the first-ever brand of popped potato chips in India. These chips are never baked or fried, oil-free, gluten-free, with no trans fat and 50 percent less oil than traditional potato chips.

The unique popping technology used by Tagz Foods involves high temperature and less pressure, which makes the chips crispy, crunchy, and perfect for snacking. The company offers six different flavors of chips and four gourmet dips, making it an ideal choice for the urban Gen Z population who are looking for healthier snacking options.

Tagz Foods has gained popularity in India within just 18 months of launching its first product. The company has a strong online presence and sells its products through 30 e-commerce websites and more than 2,000 retailers across the country. Although Tagz Foods is more focused on the online business, it is also connected with many distributors around the country to ensure traditional sales.

Aim of the startup

Tagz Foods is a startup that aims to revolutionize the snacking industry by offering a healthier alternative to traditional potato chips. Their vision is to provide delicious and guilt-free snacking options to the urban Gen Z population in India. They have achieved this by introducing a new product that uses popping technology instead of baking or frying, resulting in oil-free, gluten-free, and low-fat potato chips.

Their aim is not just to make healthy products, but to offer products that people want to eat while also being healthier. They have launched six different finger-licking flavors of chips and four gourmet dips to cater to the diverse tastes of their customers. The company has successfully established its online presence and has partnered with over 30 e-commerce websites and 2000 retailers across India.

Sales and Gross Profit

The startup company has shown impressive sales and profit numbers since its inception. The company has successfully raised a total revenue of 7 crore till date, with a gross margin of around 48%. This indicates that for every rupee of revenue generated, the company is able to keep 48 paise as gross profit after accounting for the cost of goods sold.

Last year, Tagz Foods generated a revenue of 15 crore, which is a significant increase from their previous years. This growth can be attributed to their popular products and marketing strategies. Anish, a representative of the company, revealed that their highest gross margin is achieved through the sale of their 50 rupees packet. This shows that their product pricing strategy is working in their favor, and they are able to generate a healthy profit margin on their products.

The current valuation of the company is 70 crores rupees, indicating that the company is performing well in the market and is valued highly by investors. With their impressive sales numbers and high gross margin, Tagz Foods is well positioned to continue growing and expanding their product line. The company's success can be attributed to their focus on producing high-quality products that appeal to their target audience, and their ability to efficiently manage their costs to generate healthy profits.

Funding secured on Shark Tanks India

recently appeared on the popular television show Shark Tank to secure funding for their company. The pitchers of Tagz offered 1 percent stake in the company for 70 lakhs. However, Shark Anupam showed no interest in investing, stating that the valuation of the company needed improvement before it could reach unicorn status.

Vineeta Singh, another shark, advised the company to focus on expanding their reach to 2 lakhs retail shops from their current 2000 shops. She also suggested that the company should not sell directly to customers, but rather through various distribution channels. Aman Gupta and Namita Thapar countered the offer with a 4 percent stake for 70 lakhs rupees.

Ashneer Gover, another shark, then countered the offer with a 3.5 percentage stake for 70 lakhs, leading to a little argument between the sharks and the pitchers. Finally, the pitchers offered a 2.5 percent stake for 70 lakhs. Aman and Namita then made a final counter offer of 3 percent stake for 70 lakhs.

In the end, Ashneer Gover made the final offer to take a 2.5 percent stake in Tagz Foods for 70 lakhs. The deal was done, providing Tagz Foods with the funding they needed to further expand their company and reach a wider audience. This successful pitch on Shark Tank will surely bring more attention and opportunities to the innovative startup.

Future of the company

After the deal was made, Aman Gupta emphasized the importance of building a kingdom in the online platform which would eventually translate into increased sales in traditional shops. With its innovative and healthy approach to snacking, Tagz Foods is set to become a leader in the potato chip market and revolutionize the way we snack.

Tagz Foods has a bright future ahead of them. With their innovative and healthy approach to potato chips, they have already gained popularity in India within just 18 months of launching their first product. Their unique popping technology which uses high temperature and less pressure to make oil-free and gluten-free chips is a game-changer in the snack industry.

Their six different flavors of chips and four gourmet dips have already been a hit among customers, and the fact that they sell their products through 30 e-commerce websites and more than 2000 retailers around the country shows their commitment to reaching a wider audience.

Tagz Foods has a strong foundation for growth and innovation, and their dedication to providing healthy snack options will likely continue to resonate with consumers. As they expand their reach and offerings, they have the potential to become a leading brand in the snack industry, both in India and beyond.