The slide is a title for a case study on the Shark Tank India episode featuring Spice Story. Its subtitle highlights the brand's concept of bottling India's nostalgic flavors through "Desi Swad."

Shark Tank India: Spice Story Case Study

Bottling India's Nostalgia with Desi Swad

Source: Shark Tank India Presentation

--- Speaker Notes: Welcome everyone! Today, I’ll be presenting a Shark Tank India case study on Spice Story — a startup that brings authentic Indian street-food flavours to our homes through ready-to-use chutneys. (Bottling India’s nostalgia with desi swad.) Spice Story isn’t just a chutney brand — it’s about bottling India’s nostalgia. The founders wanted to make desi swad (Indian flavours) convenient, modern, and available worldwide. In this presentation, we’ll explore how the idea started, their mission, challenges, and how they impressed the Sharks.

Spice Story is an Indian FMCG brand specializing in bottled chutneys, inspired by authentic flavors from cities like Delhi, Agra, Indore, and Chennai. It is available on major online platforms such as Amazon, Flipkart, Swiggy Instamart, and BigBasket, as well as in over 1,700 offline stores nationwide, with a mission to take Desi flavors global.

About Spice Story

• Indian FMCG brand with bottled chutneys

• Inspired by flavors from Delhi, Agra, Indore, Chennai

• Available on Amazon, Flipkart, Swiggy Instamart, BigBasket

• Sold in 1,700+ offline stores nationwide

• Mission: Taking Desi Flavours Global

Source: Shark Tank India Case Study

--- Speaker Notes: The idea is simple — every Indian dish has its own signature chutney. Spice Story captures those authentic tastes and makes them easily available in modern, hygienic packaging. Their mission is “Taking Desi Flavours Global.”

The slide introduces the founders of Spice Story: Soumyadeep Mukherjee, a 21-year FMCG business and distribution expert; Gayatri, a branding and marketing strategist; and Chef Vibhor, the culinary expert who perfects the taste. Their motivation stems from Soumyadeep's observation of a market gap for Indian chutneys in modern kitchens, fueled by a shared passion for food and culture.

The Founders & Their Motivation

Source: Shark Tank India Case Study – Spice Story

--- Speaker Notes: Soumyadeep noticed a huge gap in the market — Indian chutneys were missing from modern kitchens. He convinced Gayatri to join for branding and later teamed up with Chef Vibhor for authentic flavours. Their passion for food and culture became the base of Spice Story.

Traditional chutneys require time-intensive home preparation and lack hygienic, convenient packaging options, making them less appealing in modern contexts. Meanwhile, international sauces dominate retail shelves, while desi flavors fail to incorporate the necessary modern convenience factor.

Problem Identification

• Chutneys demand time-intensive preparation at home.

• Lack hygienic, convenient packaging options.

• International sauces dominate retail shelves.

• Desi flavors miss modern convenience factor.

--- Speaker Notes: They realized something important — Indians love chutneys, but the convenience factor was missing. Nobody had yet packaged desi chutneys like how ketchup or mayonnaise is sold. So they decided to create a brand that preserves authentic Indian taste in modern, ready-to-use form.

In 2019, the vision for bottling authentic Indian flavors under "Desi Swad in Modern Style" emerged, though initial recipe trials failed to capture genuine regional chutney tastes. By 2020, Chef Vibhor joined to refine the recipes, leading to their authentic perfection in 2021 using real Indian ingredients.

Idea & Origin Story

2019: Vision Takes Shape Started with 'Desi Swad in Modern Style' to bottle authentic Indian flavors. 2019: Initial Recipe Trials Early attempts failed to replicate genuine regional chutney tastes. 2020: Chef Vibhor Joins Team Culinary expert brought on to refine and authenticate recipes. 2021: Recipes Perfected Authentically Chutneys reworked using real Indian ingredients for accurate desi swad.

Source: Shark Tank India Case Study – Spice Story

--- Speaker Notes: When they started, they faced criticism — the first chutneys didn’t taste authentic. Chef Vibhor reworked the recipes using real Indian ingredients and local inspiration. Slowly, their taste became so accurate that even the Sharks were impressed during tasting!

This slide highlights the unique selling points of authentic regional Indian chutneys that evoke nostalgic flavors, made without preservatives or artificial additives for pure quality. It also emphasizes premium, modern packaging for convenience and appeal, with easy availability both online and offline.

USP & Product Features

• Authentic regional Indian chutneys capture nostalgic flavors.

• No preservatives or artificial flavors ensure purity.

• Premium modern packaging offers convenience and appeal.

• Available online and offline for easy access.

--- Speaker Notes: Their USP lies in authenticity + convenience. The packaging appeals to modern youth, but the taste connects emotionally with Indian roots. It’s a bridge between nostalgia and innovation.

The slide highlights the company's market journey, showcasing sales growth from ₹1.5 Cr in 2019 to ₹4.1 Cr in 2021-22, with an ambitious ₹9 Cr target for 2023. It also notes ₹4.7 Cr in funds raised from investors and a presence in over 1,700 retail stores across 5 cities nationwide.

Market Journey & Achievements

• ₹4.1 Cr: 2021-22 Sales

From ₹1.5 Cr in 2019

• ₹9 Cr: 2023 Target

Ambitious growth goal

• ₹4.7 Cr: Funds Raised

Investor backing secured

• 1,700+: Retail Stores

In 5 cities nationwide

--- Speaker Notes: They started small but grew steadily every year. Their products are now available both online and offline, giving them nationwide visibility. They raised funds twice and achieved a 23 crore pre-money valuation — showing strong investor confidence.

The slide outlines key challenges faced, including high marketing and sampling costs that strained resources, along with persistent cash flow and inventory management issues. Additionally, COVID-19 lockdowns disrupted retail sales channels, leading to negative margins from excessive advertising spend.

Challenges Faced

• High marketing and sampling costs strained resources.

• COVID-19 lockdowns disrupted retail sales channels.

• Cash flow and inventory management issues persisted.

• Negative margins from excessive advertising spend.

--- Speaker Notes: Like many FMCG startups, Spice Story struggled with profitability. They spent more to acquire customers than they earned. COVID also delayed their expansion. The product quality was excellent — but execution and cost management needed improvement.

This slide features a quote from Namita Thapar, an entrepreneur and Shark on Shark Tank India, praising a product as impeccable with a 10/10 rating. She highlights how it authentically captures India's nostalgic flavors through innovation, effectively bridging tradition and modern convenience.

Sharks’ Feedback & Final Deal

> The taste is impeccable—a 10/10 product that bottles India's nostalgic flavors with authenticity and innovation, bridging tradition and modern convenience.

— Namita Thapar, Entrepreneur and Shark on Shark Tank India

Source: Shark Tank India - Spice Story Pitch

--- Speaker Notes: The Sharks were impressed by the taste — some even said “10/10 product.” But they questioned why the company wasn’t growing faster and why profits were negative. Namita Thapar believed in the product and offered a deal that the founders accepted.

The slide's key learnings emphasize that a strong product alone doesn't guarantee profitability, highlighting the importance of execution, marketing, cash flow, transparency to build investor trust, and the global appeal of authentic Indian ideas, encapsulated in the formula "Desi Emotion + Modern Execution = Success" for emotional connection and disciplined long-term growth. It concludes with a thank-you message, encouraging innovation with passion and precision.

Key Learnings & Takeaways

1️⃣ Good product doesn’t always mean profitable business. 2️⃣ Execution, marketing, and cash flow are critical. 3️⃣ Authentic Indian ideas have global potential. 4️⃣ Investor trust grows with transparency. 5️⃣ “Desi Emotion + Modern Execution = Success.”

(Emotional connection + discipline for long-term success.)

Thank you! Let's innovate with passion and precision.

Source: Shark Tank India - Spice Story Case Study

--- Speaker Notes: Spice Story teaches us that Indian heritage products can shine globally — but they need solid financial strategy. The brand proved that emotional connection with customers, when combined with business discipline, can create long-term success. Closing message: Embrace desi innovation for success. Call-to-action: Apply these insights to your ventures today.