How Skippi Is Tapping India’s Appetite For ‘Chuskis’ And Confectionery With A Modern Twist

How Skippi Is Tapping India’s Appetite For ‘Chuskis’ And Confectionery With A Modern Twist

SUMMARY

Identifying a big gap in the Indian ice popsicles market, largely dominated by a hand full of global and Indian players, Ravi and Anuja Kabra founded in Skippi in 2021

The Hyderabad-based startup, which offers ice popsicles that are 100% natural and free from artificial colours, flavours, and preservatives, is available at over 14,000 outlets nationwide

When Skippi started on Shark Tank in FY22, it was generating about INR 2.5 Cr. Following its appearance on the show, its revenues skyrocketed to nearly INR 15.4 Cr in FY23

In the sweltering heat of an Indian summer, nothing brings more joy than having an ice popsicle, aka ice gola or chuski. Not only do these colourful delights boast a history that spans across many cultures and regions but their global market is also set to soar to $8.9 Bn by 2032. Speaking with Inc42, Anuja said that while Skippi’s advantage rests in being India’s first exclusive ice popsicle brand, the claim to fame was the appearance on Shark Tank India in Season 1. Notably, Skippi was able to secure a deal from all five judges on the show for INR 1.2 Cr in exchange for a 5% equity. To understand the ice popsicle market in India, Ravi conducted surveys in supermarkets and at places that had heavy footfall. As luck would have it, Ravi’s sister’s thesis proved to be correct, and almost everyone had negative feedback about the products available at that time. It was at this hint of an opportunity that convinced Ravi to launch Skippi.Currently, some of its best-selling products such as the All Flavor Box, Desi Box, Yellow Tropical Box, Green Tropical Box, and Single-Flavor Boxes see in the price range of INR 120 to INR 240. It is on the back of this market discovery that the startup was able to sell close to 2 Cr popsicles last year, the cofounders said. They aim to surpass the 40 Cr mark this year. “The exposure resulted in a surge of website traffic and thousands of orders, with the website receiving lakhs of hits the next day. While the initial spike lasted about a week, Skippi continues to enjoy a significant footfall to date,” Ravi said. 

While giants like Unilever, Nestlé, Mengniu, and Yili dominate the ice popsicle market worldwide, Mother Dairy, Amul, and Kwality Walls are some of the prominent players in the Indian market. Before the show, Skippi averaged 80,000 to 90,000 visitors monthly, a number that increased to 3.2 Lakh monthly visitors post their Shark Tank appearance. Its offline coverage, too, has expanded from 1,200 outlets to 14,000 outlets.

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