“The Cinnamon Kitchen,” a Delhi-based bakery with a growing fan base, secured a substantial investment of Rs 60 lakhs from Aman Gupta, the co-founder and Chief Marketing Officer of boAt, on the third season of “Shark Tank India.” The bakery, founded by Priyasha Saluja, boasts a clientele that includes Bollywood celebrities like Sonam Kapoor, Arjun Kapoor, and Malaika Arora. Priyasha aims to redefine guilt-free indulgence by offering plant-based, organic, and gluten-free treats, ranging from spreads and snacks to cookies, cakes, and bread.
Entering the business reality show with an ask of Rs 60 lakhs in exchange for a two percent equity stake, Priyasha showcased her range of products to the Sharks, including Aman Gupta. Impressively, all products presented were gluten and dairy-free, aligning with the bakery’s commitment to wholesome and irresistible delights.
In response to Aman’s query about the bakery’s operations, Priyasha clarified that they have a factory in Noida sector 63, and their products are available online, in select retail stores, as well as on platforms like Amazon and Blinkit.
However, not all feedback was entirely positive. Anupam Mittal, CEO of Shaadi.com, pointed out concerns about the packaging and labeling of the ‘Vegan Nutella,’ and Vineeta Singh, CEO of Sugar Cosmetics, echoed similar sentiments. Despite these critiques, Priyasha emphasized their focus on packaged goods, citing increased customer repeat percentages and higher average order values.
Namita Thapar, executive director of Emcure Pharmaceuticals, questioned the scalability of the business. Priyasha outlined their strategy, emphasizing efforts on distribution, increasing shelf life, and expanding to different cities through platforms like Blinkit. She also highlighted deals with airports as part of their expansion plans.
As the discussion progressed, Aman Gupta sought information on the company’s sales figures. Priyasha, who initiated the venture with an investment of Rs 50,000 in September 2019, shared the impressive growth trajectory. Sales went from Rs 1,40,000 in the first year to Rs 6 crore projected for the current fiscal year, with notable milestones in between.
Aman Gupta, extending an offer, proposed Rs 10 lakhs for a two percent equity stake and an additional Rs 50 lakhs as debt at 12 percent interest for two years. However, Priyasha expressed her primary need for guidance and assistance as a first-time entrepreneur. In response, Aman revised his offer to Rs 60 lakhs for a five percent equity stake, a deal that Priyasha accepted, bringing the partnership to fruition.
The origin of ‘The Cinnamon Kitchen’ dates back to 2018 when Priyasha, motivated by her personal battle with PCOS at the age of 13, transformed her struggles into a passion project. As a self-professed foodie, she began sharing healthy recipes and lifestyle tips on social media. The brand’s journey culminated in the significant turning point of participating in ‘Shark Tank India,’ where Priyasha not only gained exposure and secured investment but also received valuable insights from the sharks on optimizing business operations.
Reflecting on her experience, Priyasha expressed gratitude for the kindness and empathy shown by the sharks, acknowledging the challenges faced by early-stage entrepreneurs. She eagerly anticipates a promising future for ‘The Cinnamon Kitchen.’
The success story of ‘The Cinnamon Kitchen’ is a testament to Priyasha Saluja’s resilience and vision. Overcoming personal health challenges, she turned her passion for healthy living into a thriving business. The Shark Tank India platform not only provided crucial funding but also served as a springboard for valuable mentorship. Aman Gupta’s investment and guidance mark a pivotal chapter in the brand’s growth. As ‘The Cinnamon Kitchen’ sets its sights on expanding its footprint, the Rs 60 lakh investment will fuel further innovation and outreach. The entrepreneurial journey of Priyasha showcases the transformative power of determination, culinary expertise, and strategic partnerships in the competitive business landscape.
‘Shark Tank India 3’ viewers can catch the exciting episode on Sony LIV, witnessing the transformative moment for ‘The Cinnamon Kitchen’ and its founder, Priyasha Saluja.