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As the conversation turned to her expansive product portfolio, Peyush Bansal criticised Gauri for creating 800 SKUs, calling it an overreach.
Namita Thapar offered Gauri a deal of Rs 1 crore for 2% equity and a 2% royalty. (Photo Credits: Instagram)
The latest episode of Shark Tank India Season 4 brought an intense pitch from Chef Gauri Kaushish Varma, founder of Confect, a luxury confectionery brand. Known for creating some of the most exquisite sweets, Gauri came prepared to show her vision. But things took a dramatic turn when sharks Anupam Mittal and Peyush Bansal grilled her approach, sparking a fiery discussion. Gauri began her pitch with an ambitious plan for Confect’s global expansion, emphasising the brand’s transition to international markets.
Sharing her journey, she recounted how she built the business from scratch, introducing fondant cakes to India back in 2015-2016 and creating over 800 SKUs for her business model. She explained how Confect became a pioneer in importing baking confectionery materials and reflected on her challenges in managing costs and competition.
The grilling started when Vineeta Singh questioned whether Gauri’s focus on international markets stemmed from her inability to understand the Indian market. Gauri confidently claimed she had no significant competitors in the country but the comment raised eyebrows among the sharks. Discussing unit economics, Vineeta probed further, noting that the majority of Gauri’s revenue seemed to stem from the US rather than India. Gauri defended her position, explaining that India’s price-sensitive market and high operational costs made it challenging to grow locally.
As the conversation turned to her expansive product portfolio, Peyush criticised Gauri for creating 800 SKUs, calling it an overreach. Meanwhile, Anupam labelled her approach indecisive. Despite her efforts to justify her strategies, their skepticism grew and both sharks opted out of the deal.
Namita Thapar, however, saw potential in Gauri’s vision. She dug deeper into the business model and revenue streams, ultimately offering a deal – Rs 1 crore for 2% equity and a 2% royalty until she recovers her investment. Gauri accepted the deal with gratitude, sealing her partnership with Namita.
After the pitch, Gauri didn’t hold back her thoughts on the grilling session. Speaking candidly, she said as reported by ETimes, “Ab unko fomo ho raha hai na. First, Anupam called me indecisive, but that’s how 800 products happen. I wanted to tell Peyush, tum ek hi chashma becho na, kyun itne designs nikale hue hai. Mujhe lagta hai baaki sharks ko cake ka ‘k’ bhi nahi pata. If they would have straight-up told me they weren’t interested, I’d understand. But yeh befaltu ke excuses were not required at all.”
