The startup story of Arasha food with Priyanshu Bansal | Indian community #20

Transcript

amit-gupta_2_03-26-2024_131140: 0:00

Completely made in India or assembled in India?

priyanshu-bansal_2_03-26-2024_224140: 0:03

we are proudly made in India, for India.

Track 1: 0:05

So can you create a Cholle bature candy? Ha Ha Ha that Welcome to Indian Community. I am Rahul Mehra, and I'm joined with my co host Amit Gupta. At Indian Community, we spotlight dynamic entrepreneurs reshaping our world. Today's guest is Priyanshu Bansal, founder of Arasha Foods, a trailblazer in kit friendly confectionery. Priyanshu wants to be known as the Willy Wonka of India. Under Priyanshu's guidance, Arasha Foods has rapidly grown into a beloved brand, demonstrating the power of bootstrapped vendors. Join us as we explore India's confectionery industry with Priyanshu. The challenges of breaking into the confectionery market, sustaining and also his expansion plans. Welcome to Indian community.

amit-gupta_2_03-26-2024_131140: 1:01

Welcome to the

priyanshu-bansal_2_03-26-2024_224140: 1:02

Thank you.

amit-gupta_2_03-26-2024_131140: 1:02

Priyanshu.

priyanshu-bansal_2_03-26-2024_224140: 1:03

Thank you so much, sir. Firstly, thank you for the opportunity to having me on this podcast. lovely to be here and have a insightful discussion on this podcast.

amit-gupta_2_03-26-2024_131140: 1:13

That's great. we are also very excited. You're a very young entrepreneur, um, and, uh, building a product for the young generation and the future generation of India. So tell us a little bit about your journey. How did you go about starting Arasha Foods at this young age?

priyanshu-bansal_2_03-26-2024_224140: 1:31

Sure. So at a very early age, you know, my father, he always pushed me to a lot of trade fairs, all these exhibitions, which used to happen in the offline market. You know, I was always interested in the F& B space. And how do these young brands work and how they capture the market share of these old MNCs. So one thing was pretty sure for me. I wanted to do something in the F&B space at a very early age and something of my own. Right. I visited a lot of trade fairs, which were happening in Dubai, in India. And during the COVID period, I got a lot of free time. There was a lot of, we had nothing to do, right? So I spent hours and hours doing a lot of research, analyzing, you know, how does the industry work? How does market work? How does new brand, you know, they conquer or they compete with these MNCs. And how does that overall offline journey works, right? So also as a kid, I was very much interested in this confectionary space, you know I loved having a lot of innovative front products which were not made in India They were basically imports and I used to get them at a modern trade store in Pune And that each candy would cost us like 200, 300, 400. They were extremely costly, but I loved indulging in them And later growing up, you know, during my time, you know, when I had a lot of time doing my research, I realized that the market is still the same, right? If you closely look at the confectionery market, there are three kinds of players which are currently operating in India. So the biggest market for confectionery is indore, right? Over there, all the manufacturers Are there for confectionery? So number one there are these indore players, you know, they operate in the five rupee category and for them price is a Important factor, you know, they don't play on the quality or the innovation For example, they also have a kinder joy look alike which they sell at a mrp of five rupee these guys can basically do anything at rupee five and the second segment or the second category is mncs Like FERRERO, PERFETTI Van Melle like whatever product they want to launch for them, the market has to be huge. It's like, uh, they launch at one product for whole India. So those MNCs, you know, whatever product they launched, they make sure the market is huge, which is why they have to, you know, keep a lot of products of the Indian, of their Indian basket. If either, if you see the basket, which they have in the U S market, they have so many products, so many brands, the same company, which is. which is operating in India. They hardly have like five to 10 percent of the product portfolio, So the second category is, is MNCs. And the third category is basically the imports. These local traders, they import these candies from Dubai and they sell in this modern trade and this good premium store. what I realized is that there's a huge opportunity for an Indian brand to operate in the mass premium category. Where we can launch a lot of fun, cool, innovative confectionary products at 20, 30, 40 rupee price point, which I feel it is a very good sweet spot in which we can give a good quality product or better for you product. also a fun interactive product, which kids would like to indulge in. So that was the whole vision or the whole thought of launching Arasha Foods,

Track 1: 5:15

Great, great Priyanshu. So Priyanshu, you started at a very early age and you know, it was a new business for you. So how easy or challenging is it to enter the confectionery market today, especially with the product that is focused on kids,

priyanshu-bansal_2_03-26-2024_224140: 5:32

right? So actually before starting, you know, my father made it very clear to me, right? Whatever work, whatever business you're starting new, you have to give at least a thousand days you know, understand don't expect anything significant to happen in those first thousand days. in the first, like I started this company in July, 2022, right. The first six months, you know, I used to manufacture those products. I used to go in the market. I used to understand the key retailer. Whenever I used to take my product to the retailer. Their first instinct was no, nahi chahiye, nahi like a sales guy. And even I used to go to them as a sales representative. I was thinking if I go as a director, they'd be like, company ka director aaya hai, choti company hai, jao idhar se. So like for six months, I acted as a sales rep of the company, where literally I used to keep 15 cartoons in my car. I used to roam around the city. And basically understand how does this retailer mindset or overall, overall, how does the industry operate because our traditional business is into the real estate and we do a lot of trading activities, import export. So for my father and me, this was a whole new segment, a whole new industry where we didn't know what does a super stock is do or what, like, what is the role of each and every stakeholder in this industry? Another question mark for me. So my thing was very clear, you know, you should start and you will figure out a lot of things step by step. It's not important for you to know everything from day one.

Track 1: 7:13

right? Great.

amit-gupta_2_03-26-2024_131140: 7:15

So that is great. In fact, Ron, when he was describing why he started Rasha Foods, I thought he's going to say, uh, you know, I was not allowed to eat chocolate. So I thought, let me start my own chocolate brand. Phir Mujhe Koi Nahi Rok Sakta

priyanshu-bansal_2_03-26-2024_224140: 7:29

Good point.

Track 1: 7:30

But it's great, you know, once you get married and you will have kids and you know, uh, are you married by any chance?

priyanshu-bansal_2_03-26-2024_224140: 7:36

No, no, I'm just 22.

Track 1: 7:37

Are you just 22? No, well, so if you get married, when you get married actually, and you'll have your kids, so you know, your kids will be the privileged ones. Of buying their sweet. Yeah. So do we have a number? Can you give a number

priyanshu-bansal_2_03-26-2024_224140: 7:59

that they have like a candy factory in house. Right. So you always joke around

amit-gupta_2_03-26-2024_131140: 8:08

So, what is the type of investment that is required to set up a confectionery business like you did?

priyanshu-bansal_2_03-26-2024_224140: 8:20

See there is, you know, I would divide this into two separate parts. right? So the first investment is done in the factory part, whatever machinery or whatever development or the NPD cost, which I have to bear. significant other cost is in the The cost which you have to bear to get in the offline market, the distribution, or the marketing or the sales cost. which is as heavy or even more than the machinery cost. So do we have a number? Can you give a number?

Track 1: 8:49

give a number

priyanshu-bansal_2_03-26-2024_224140: 8:50

So roughly we have invested around about 1.5 crores

Track 1: 8:54

Okay.

priyanshu-bansal_2_03-26-2024_224140: 8:55

setting up the factory and total we have invested 1. 5 crores till now.

Track 1: 9:00

Okay. Okay. That's a fair number to start for anybody to start the new business. This is the amount they should be looking at. Right.

priyanshu-bansal_2_03-26-2024_224140: 9:09

we started very small. So I just started with 30, 40 lakhs. then we realized there's a lot of in different products, which is why we had to get new machinery and expand our factory. And that required a lot of funds.

amit-gupta_2_03-26-2024_131140: 9:23

So when you started this off, you started with how many products?

priyanshu-bansal_2_03-26-2024_224140: 9:29

I just had one category, uh, which is that ice popsicle category.

amit-gupta_2_03-26-2024_131140: 9:34

Correct.

priyanshu-bansal_2_03-26-2024_224140: 9:34

We all remember that Pepsi Cola, which we had in our childhood, right? So that was my only product, which I had, and it was like a seasonal product. It would only work in summers.

amit-gupta_2_03-26-2024_131140: 9:45

Correct.

priyanshu-bansal_2_03-26-2024_224140: 9:45

So, and with that single product, I used to go to the retailers. And while going to the retailers, I realized that there is no innovation in India in the confectionary space. is why I feel it was like an advantage for me to start with only one SKU or one product.

amit-gupta_2_03-26-2024_131140: 10:04

Correct.

priyanshu-bansal_2_03-26-2024_224140: 10:04

Because I understood how this market works.

amit-gupta_2_03-26-2024_131140: 10:07

And you were manufacturing

Track 1: 10:08

So can they.

amit-gupta_2_03-26-2024_131140: 10:08

all of this

Track 1: 10:09

Yeah.

amit-gupta_2_03-26-2024_131140: 10:10

India? Completely made in India or assembled in India? Made somewhere else.

priyanshu-bansal_2_03-26-2024_224140: 10:16

We are proudly made in India, for India.

amit-gupta_2_03-26-2024_131140: 10:19

pura

Track 1: 10:20

cool.

amit-gupta_2_03-26-2024_131140: 10:20

pura, brand, everything, packaging.

priyanshu-bansal_2_03-26-2024_224140: 10:24

Everything is done here.

amit-gupta_2_03-26-2024_131140: 10:25

The ingredients, everything is made in India.

priyanshu-bansal_2_03-26-2024_224140: 10:28

Everything

amit-gupta_2_03-26-2024_131140: 10:29

that's great. And when you went to these shopkeepers with your first product, which is the, the ICS or the Pepsi, uh, you know, that you, we used to call in our childhood, why would they choose you? How did you differentiate yourself from all the incumbent players?

priyanshu-bansal_2_03-26-2024_224140: 10:48

to be honest, you know, they didn't choose me Like if like if I went to a retailer before starting this business, I taught would give retailer a good margin, good product, a good looking product or product. That was the whole thought retailer. Keep my product,

amit-gupta_2_03-26-2024_131140: 11:08

Correct.

Track 1: 11:08

That's an honest,

priyanshu-bansal_2_03-26-2024_224140: 11:09

I start.

Track 1: 11:10

that's an honest answer. Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 11:12

I started Kia. I'll just make them greedy. But you know,

Track 1: 11:16

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 11:16

by day, you know, I started approaching these retailers, their first instinct would be no. And you know, and later I understood why, what they're saying no, because usually there are so many new products, so many new companies which approach them daily to keep their products. And you know, if they start saying yes to everyone, it would be a disaster for them to keep a new product, like eight, 10 products every day. So I had to make like minimum eight, 10 visits to those retailers. And more importantly, I had to develop that relationship. Ki boss, I'm not going anywhere, you know. Agar product ko toh, I'll be ready to take it back. So when I made that 8th or 10th visit, I, you know, I developed that relationship. He used to greet me nicely, I used to greet him back. So with that relationship is when, you know, he started keeping my products on the display. And that is how gradually the sales started.

amit-gupta_2_03-26-2024_131140: 12:13

you went to a retailer at least seven times you knocked on their door and you asked for business.

priyanshu-bansal_2_03-26-2024_224140: 12:19

100%.

amit-gupta_2_03-26-2024_131140: 12:19

And you, you received a

priyanshu-bansal_2_03-26-2024_224140: 12:21

Right.

amit-gupta_2_03-26-2024_131140: 12:21

and, and, and

priyanshu-bansal_2_03-26-2024_224140: 12:22

Right.

amit-gupta_2_03-26-2024_131140: 12:23

went back and you asked them for business again.

priyanshu-bansal_2_03-26-2024_224140: 12:27

To be, to be honest, you know, it was very, uh, discouraging or, you know, I didn't understand why they're saying no. They're getting a good product, a new margin. that was like a big, huge question mark for me. How would this operator, how will it work me? But now, you know, after spending so much offline market, I'm able to analyze, you know, why was there, why were they saying no to me?

amit-gupta_2_03-26-2024_131140: 12:52

So how did you keep your morale high

priyanshu-bansal_2_03-26-2024_224140: 12:54

See, one thing, thing, you know, to keep my moral high, like the first six months, I kept my fixed cost low, you know, I just had my rent and I had one labor in the factory used to manufacture. So my, so my fixed cost for the first initial months were hardly 50, 60, 000. And I was able to get that, get that money out. So for me, I was not bleeding, which is why, you know, I was, I was breathing or, you know, I had time to think. Adapt analyze key what I can do in future. And basically I got a lot of time to think here market,

Track 1: 13:36

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 13:37

because I kept my fixed cost very low.

amit-gupta_2_03-26-2024_131140: 13:39

What was the role of your family and friends when you were going through that tough time of rejections and rejections every day?

priyanshu-bansal_2_03-26-2024_224140: 13:47

No, definitely my family, you know, they play a very crucial role, right? To start a business at such a early age. I incorporated this company when I was 20 to have that support from my parent, from my mom, dad, my grandfather. It, it is a huge, huge blessing, you know, to get that support or that belief, you can do this. So that is like my unfair advantage, you know, that family with me, which they help in those, you know, that up and down and definitely plays a very important role. See the

Track 1: 14:25

so pr what, let's come back to the industry thing. So what are the current trends in the, you know, uh, Conex industry and how are you aligning with those? Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 14:37

confectionary market in India is roughly around two and a half to 3 billion,

Track 1: 14:43

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 14:43

And there's a lot of, in fact, if you see a lot of MNCs like Lotte, they're setting up new plants, they just, you know, they set up a plant in empty. So there's MNCs, they're usually investing in India because they feel

amit-gupta_2_03-26-2024_131140: 14:57

INDIA ka

priyanshu-bansal_2_03-26-2024_224140: 14:57

consumption, abhi tak confectionery me which hardly, it's, you can't even compare it to US.

amit-gupta_2_03-26-2024_131140: 15:03

Right

priyanshu-bansal_2_03-26-2024_224140: 15:04

So the opportunity is very huge, which is why a lot of are, you know, placing their bets, they are, you know, Uh, investing very heavy in the, uh, in the machinery in their plant. So that is one thing which, you know, these MNCs are investing very much in the industry. The second trend, which I'm noticing in the confectionary space is parents are, you know, getting a bit what are they giving to their kids, right? So that for you. thing I'm noticing in every category, whether that's snacks, beverage, there's, there's always a better for you product, which is coming up and competing with this MNCs. So for the

Track 1: 15:45

Alright.

priyanshu-bansal_2_03-26-2024_224140: 15:45

space, I am looking at lot of better for you products, but I feel it is a huge, huge, there's a lot of time for the confectionery space to have that product. And in the confectionery market, there are a lot of new flavors coming in. And you see a lot of these MNCs, they are using natural flavors, natural colors, and they're marketing that very cleverly in their packaging. So they've started to use good ingredients in their products and they are marketing that.

amit-gupta_2_03-26-2024_131140: 16:19

So do you have any of your

Track 1: 16:20

Mm-Hmm.

amit-gupta_2_03-26-2024_131140: 16:22

Priyanshu? Okay.

priyanshu-bansal_2_03-26-2024_224140: 16:23

Sure, Ash. Sure. So like, this is like one of the products which we launched a few months back, right?

amit-gupta_2_03-26-2024_131140: 16:30

Okay.

priyanshu-bansal_2_03-26-2024_224140: 16:31

this is like a lollipop

amit-gupta_2_03-26-2024_131140: 16:32

Okay,

priyanshu-bansal_2_03-26-2024_224140: 16:32

we have designed it in a such a way, right? So over here in the compartment, we have given a lollipop, which is sweet and over here This is a squeezable container which has a sour liquid So what you have

Track 1: 16:45

Okay. Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 16:47

you have to drizzle the liquid on the candy and have it So the flavor

Track 1: 16:51

a good product.

priyanshu-bansal_2_03-26-2024_224140: 16:55

Right and plus and plus the kids like that sweet and sour taste

Track 1: 17:01

Yeah.

priyanshu-bansal_2_03-26-2024_224140: 17:01

to customize,

Track 1: 17:03

Right,

priyanshu-bansal_2_03-26-2024_224140: 17:09

right?

Track 1: 17:10

right. Mm-Hmm?

priyanshu-bansal_2_03-26-2024_224140: 17:11

benefit of this product is like the kid, the kid can keep it back. There's no need for the kid to have it in one go. If a kid opens a wrapper of a lollipop, they have to consume it in one go or they either throw it. So, in fact, you know, I've, I've,

Track 1: 17:30

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 17:31

say like, this candy has been consumed over a week. Thoda bacha khadi, takes a few licks and keep, keep it back.

amit-gupta_2_03-26-2024_131140: 17:39

Which is, which is very helpful also, right? Because, uh, if you think of, uh, sugar and, uh, you know, oral health, right? If you're having a lollipop for multiple hours, um, then that is going to create, uh, trouble in your, uh, in your teeth,

priyanshu-bansal_2_03-26-2024_224140: 17:57

Right.

amit-gupta_2_03-26-2024_131140: 17:57

is good where you can just have it for a short period and then pack it and keep it aside. this is a good innovation that you're doing Priyan. So what else you do to differentiate from Arasha Foods versus all the other big brands that you mentioned, right? So you have a David versus Goliath sort of a battle going on in this 2. 3, 2. 5 billion dollar industry. How are you differentiating yourselves when you In terms of your marketing, advertising, positioning, how do you do that?

priyanshu-bansal_2_03-26-2024_224140: 18:32

So firstly, in the category in which I'm, in which we operate, right? So we do lot of sour candies, right? Kata candies in which that market is still at a very nascent stage, but it is very rapidly developing in India and that market for an MNC is too small for to enter, right? So first is, our categories a bit different are products tasted profile. It is highly differentiated from this mnc, right? Second is our product positioning. We are in that mask premium segment. Where, you know, we have priced our products at 20, 30, 40, where we feel there's a lot of use. There's a lot of white space and there are hardly any people competing in that price range. first is the category, second is the positioning and the third is, you know, we are using a lot of better ingredients compared to these, uh, other players, right? For example, uh, we have a watermelon flavor, right? So the color of the watermelon has been derived from beetroot. So that is how the natural color is coming for the lollipop. So we are using a lot of good ingredients for the kid, you know, which are better than the MNCs.

amit-gupta_2_03-26-2024_131140: 19:50

So

Track 1: 19:50

That's

amit-gupta_2_03-26-2024_131140: 19:51

you

Track 1: 19:51

Mm-Hmm.

amit-gupta_2_03-26-2024_131140: 19:52

you did not have any previous FMCG or manufacturing background. So what about these regulatory, uh, You know, So how did you go through that? What kind of regulatory compliance do you meet already?

priyanshu-bansal_2_03-26-2024_224140: 20:09

See, to be honest, you know, it's very sad in India for you to set up any manufacturing, especially related to food. There are hardly any regulations, right? You just need a basic FSSI license and you need to get your packaging sorted. Whatever is the basic. Uh, information you are required to display. than

Track 1: 20:29

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 20:30

no other legislation or that authority, which looks into your manufacturing space, or, you know, how you're keeping the track of your product quality, which is very, you know, it's, it's not that, uh, in India, so you just need a basic FSSI license to, for you to get started,

amit-gupta_2_03-26-2024_131140: 20:49

Okay, so just, uh, that license. that is also an important step, right? So if you've got that license, you basically got everything that the government requires you to have. Uh, and.

priyanshu-bansal_2_03-26-2024_224140: 21:02

right?

amit-gupta_2_03-26-2024_131140: 21:03

moving forward with that. So I appreciate your request for more stringent laws, but, considering what the laws of the land are today, you are, you're applying and you're following them. So that is, that is definitely, um, interesting and

Track 1: 21:19

So, uhhu, uh, moving forward, what is your actually product development, marketing strategies for the future?

priyanshu-bansal_2_03-26-2024_224140: 21:25

So for any new product development, you know, I do. at, you know, what exactly my consumers want or who exactly are my consumers are. For example, the lollipop, which I showed you, right, what I've done is I've different, like I've divided two sets of my consumers. Ek consumer jo khud se apna wrapper khol sakta hai of the lollipop. He doesn't need the parent to open the wrapper. For, for him, this lollipop is perfect, right? Wo khud se wrapper khol sakke kha sakta hai. Which basically means, above six, And seven years above. So what I

Track 1: 21:59

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 22:00

is there's one more category of that. One more segment in which I'm missing is children age between 2 to 6 years old, right? Disco, basically parent So in that

Track 1: 22:13

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 22:14

is a parent and the consumer of the kids. for that in, you know, in a month or so we are launching a better four year lollipop. That will be like a simple plain, your lollipop,'cause your packaging it'll be the same packaging. in that we'll be using natural flavors, natural colors. We are trying to reduce the amount of sugar we are the poor serving of the lollipop, which basically means bachha ek time per kam sugar khayega

Track 1: 22:41

Mm-Hmm.

priyanshu-bansal_2_03-26-2024_224140: 22:41

are you know, we are getting into that better for you That brand which will appeal to parents it will be a better for you product.

Track 1: 22:54

Great. That's.

amit-gupta_2_03-26-2024_131140: 22:55

How do you, uh, how do you get feedback for your products? Because of, uh, feedback though, you know, when you, uh, if it is a product, like you said, you have customer, you have consumer, uh, your customer is your parent. The consumer is actually the child who is, who's very young. So how did you go about getting feedback for your, uh, products? Uh, did you do any, any kind of tasting with, with kids?

priyanshu-bansal_2_03-26-2024_224140: 23:24

See, to be honest, you know, it's very difficult to get any feedback for my products. You know, if you take any candy or any sugar based product to a kid, most likely he's going to like it. You give him a sugar or flavor. He's going to like that product. to get feedback, you know, it takes time. I have to like literally get inside their brain and understand by their face expressions or you know, how eager are they or how, how interested are they to consume that candy for them to describe that it has less flavor or it's not, it's not attractive, it's difficult. So I have to understand from their actions and parents do play a role, but you know, to get a feedback from parent is difficult. So I have to, you know, close attention to the actions of the consumer.

amit-gupta_2_03-26-2024_131140: 24:15

So how do you do that? How do you get that feedback?

priyanshu-bansal_2_03-26-2024_224140: 24:19

Well, actually what we do is we do a lot of this, uh, flea markets, which, you know, locally happen in our locality. So they basically give you a small stall in which you know, you can display your products So the benefit of that flea market is right. I am able to interact to my consumer directly, right? So a lot of these consume for example, we did a flea market in December in Mumbai a lot of kids came asking to me, Ki iske andar color hai kya hai? If it has color, I'm not, I'm not allowed to consume The semi forget the parent. Even kids nowadays are getting

Track 1: 24:56

know,

priyanshu-bansal_2_03-26-2024_224140: 24:58

of what they're consuming. So this flea markets or any type of market in which you're able to interact directly to a consumer helps getting any type of feedback. Right,

amit-gupta_2_03-26-2024_131140: 25:10

Well, that, that is very good. Uh, um, you know, I think with the kids, um, thanks to people like Revant Himatsingka, the food farmer of India, right? There's a lot of, uh, awareness about sugar and color, uh, uska ek holi per post tha about, uh, color and the dyes that are used in the products that they consume. Uh, they have, uh, right. So

priyanshu-bansal_2_03-26-2024_224140: 25:35

right,

amit-gupta_2_03-26-2024_131140: 25:36

There's, there's a lot of awareness that is building up and young entrepreneurs like you should be prepared to, uh, know, answer these questions that your consumers are going to ask you, uh, in the near future. They're going to ask you, what is the sugar in this? What is the color in this? Uh, there are, there are these questions that are definitely going to come up.

Track 1: 26:00

you're also doing catch the opportunity, you know, in this, this is a, there's a great opportunity in this. Um, that's cool.

priyanshu-bansal_2_03-26-2024_224140: 26:12

Mother, for example, if you look at Kinder Jo, right? It's been positioned as a daily snack. Like if you see the packaging of kinder joy, there's like a glass of milk They'll say it has vitamins and they'll advertise that product As a daily snack, which you're supposed to consume it daily, which is ultimately not good for your health So if you see all our marketing whatever our marketing, you know channels, whatever we do in marketing we promote our candies as indulgence, right? which you're supposed to not have it every day, like once in a while, maybe once, twice, thrice a month, right? So we don't do any type of false marketing in which we say there's like a daily snack. It gives you a boost It might give give you energy. We don't do any sort of false marketing So the major issue is that the false marketing part also a lot of these MNCs, you know, they Position the products in a very different way Like for example, a biscuit would have more sugar than a lollipop. Those Jim Jam biscuits or their hide and seek are more harmful than these candies. So I feel to advertise exactly what your products are is also very important. And that could definitely help us in future. Ki jo product hai, we are actually showing it to our parents ki hai, iske andar sugar hai toh hai. But it's not meant for you to consume it daily.

Track 1: 27:32

That's right. That's right. So transparency, you say is another thing which is very important and you are clinging onto transparency. And do you think it helps in the business? Absolutely. Absolutely.

priyanshu-bansal_2_03-26-2024_224140: 27:44

See, I feel definitely a lot of these customers, right? They are, you know, they have started to look at the back of the what type of ingredients are going inside the product. So consumers nowadays, they have, you know, so much social media influence and people like, uh, There's a lot of influencers, so consumers are getting aware, ki, you know, what exactly are they feeding or giving to their consumers.

amit-gupta_2_03-26-2024_131140: 28:14

So what is, um, Your opinion about sustainability. Do you do you practice sustainability in your manufacturing processes or in your packaging? Is that is that something that is on your agenda?

priyanshu-bansal_2_03-26-2024_224140: 28:28

Definitely that is on our agenda, but you know, for a confectionery company in which, you know, a kid is supposed to have fun. For example, this packaging, you know, it's made of plastic, right? For me to find any other alternative is very difficult. So in, in terms of packaging, right, in which we, where we do have a lot of options, for example, we do, we do have a lot of paper alternatives. So we do a lot of eco friendly packaging for our, uh, for our displays, right? And in our production, we make sure minimal wastage, right? For example, whatever water we are using in our facility to clean our tanks or our machinery. So we'll make sure, you know, how to make minimum use of resources, natural resources, and slowly, slowly, we do have few plans in future where we are going to pay attention to sustain sustainability. But to be honest, at this stage, we aren't paying that much attention to sustainability

Track 1: 29:30

That's great. That's again, uh, honest and transparent answer. Sohu, what are the concentrations for a confectionary brand looking to expand internationally? I mean, is it on cards for you for Asher Foods?

priyanshu-bansal_2_03-26-2024_224140: 29:46

Actually the kind of products which we have, you know, there's a huge opportunity for us to export in the European market. Now, whatever these indore players, they're manufacturing their biggest market for them is the African market. But for us, we have a lot of opportunity to get our products in the European market. And since we have the benefit of having our and having our factory in India, you know, to have such cheap resources, cheap labor. So we have

Track 1: 30:15

Alright.

priyanshu-bansal_2_03-26-2024_224140: 30:16

cost advantage where we can, you know, sell our products in European market. In which, you know, the products are also sold at a very high prices in this market. So there's good margins and definitely a lot of interest.

Track 1: 30:29

Alright. Mm-Hmm.

amit-gupta_2_03-26-2024_131140: 30:30

Speaking about internationally, um, now when I go to any of these, um, and I'm talking about, uh, Indian grocery chains here in the U. S., the confectionery that I see will be as old as Fatafat Goli and Swaad and, and Panpasam, then, you know, the, the Santre Ki Goli. Uh, we, we, we find all those products, uh, you know, very, very easily. And of course, The other, uh, brands that you see in India from the kinder joys or to five star and Cadbury and everything is available here. most of it is coming from India. Now with a lot of these brands, there is a nostalgic, uh, element with, because, you know, people who are grown up eating that, uh, will remember that, or, you know, they'll be able to recognize that and say, okay, I want to bite this. Now, uh, how do you think you're going to meet the needs of this kind of customer who has not tried your products in the past, right? Uh, and if you want to go and, uh, sell internationally, uh, or even create that demand, what is going to be your strategy? to, to get there. It, it, you, you might tell me that, Amit, I don't have a strategy for that today. But if you do have a strategy and you want to talk about it, or if you are looking for, uh, partners that, uh, that can help you with that, so you can also, uh, express that if you're open to, um, importers and distributors to reach out to you.

priyanshu-bansal_2_03-26-2024_224140: 32:09

So to be honest, you know, we have a lot of these wholesalers, you know, I've been working for decades in the confectionary market. Like, for example, we have a very good wholesaler in Australia was very keen, you know, to import all our products. In fact, he's also visiting a factory next month. he sees a huge opportunity in like the kind of products which we are doing right and the cost advantage which we have. definitely we are open to, you know, uh, partnering with this state or with this partners who have so much experience and most importantly, the network, the network, which they have in the distribution channel. So for us, that is a very important factor.

amit-gupta_2_03-26-2024_131140: 32:51

So that's great.

Track 1: 32:52

Cool.

amit-gupta_2_03-26-2024_131140: 32:53

Yeah, so I wish you a lot of good luck with that Priyanshu. We would be really excited to see in India candy brand establish its presence all over the world. So I am truly hopeful that you do that. In fact, one of my suggestion would be to also explore Indian origin flavors. in, into your

priyanshu-bansal_2_03-26-2024_224140: 33:15

Right,

amit-gupta_2_03-26-2024_131140: 33:15

right? Because there, there is a of, uh, demand for origin flavors these days. And if you see some of the other brands in your category, uh, like, uh, the, the Go Desi, uh, you know, uh, set of products,

priyanshu-bansal_2_03-26-2024_224140: 33:32

right,

amit-gupta_2_03-26-2024_131140: 33:32

uh, they're also, uh, experimenting with a lot of these flavors, which people can relate to. So I, I would encourage you to look at those, As, you know, strategies for your international

priyanshu-bansal_2_03-26-2024_224140: 33:45

right. Right. 100%. Ha

Track 1: 33:49

So can you create a Cholle bature candy? candy Just kidding. Ha Ha Ha that would be a candy for adults. I'll make a fake one. That's a real idea. It's quite sour actually at times.

amit-gupta_2_03-26-2024_131140: 34:05

Are you aware of what is a Falsa? Pre Thinkan lives in Mara, so he's not aware of Falsa. so Falsa is a very north Indian, Delhi up. Haryana sort of, uh, it's, it's a berry. Okay. It's a traditional Indian berry. In fact, I can find Falsa over here, frozen Falsa I can find in US. Okay.

priyanshu-bansal_2_03-26-2024_224140: 34:26

Oh wow.

amit-gupta_2_03-26-2024_131140: 34:26

to live in India in Bombay, Pune. I would never find Falsa. And I

priyanshu-bansal_2_03-26-2024_224140: 34:36

Okay.

amit-gupta_2_03-26-2024_131140: 34:37

at times.

priyanshu-bansal_2_03-26-2024_224140: 34:37

I'll definitely have to take that. Ha ha ha. 100%. Sure.

amit-gupta_2_03-26-2024_131140: 34:44

also make someone like me buy, because if we see, uh, you know, like a Falsa Juice or a Falsa Shake here in the us, we, we immediately go for it.

Track 1: 34:54

But I still stand for Cholle bhature candy. And see cholle bhature has a lot of calories in it. And I'm sure your candy is not going to have those many calories. So, you never know. Might be a market for it.

amit-gupta_2_03-26-2024_131140: 35:10

You

Track 1: 35:12

Yes, yes, yes, yes. But, we'll have

amit-gupta_2_03-26-2024_131140: 35:16

great.

Track 1: 35:18

a rapid fire round for you in the end. And, uh, these are just casual questions. And we want you to To answer them, you know, the top of whatever comes to your mind. So ready for it? All right. So your first question is early bird or a night owl? What describes you best when it comes to your productivity? Actually,

priyanshu-bansal_2_03-26-2024_224140: 35:41

100%. Holy word.

Track 1: 35:43

early bird. Great.

amit-gupta_2_03-26-2024_131140: 35:44

What is your favorite Confectionary as a kid.

priyanshu-bansal_2_03-26-2024_224140: 35:47

I love this brand called Warheads. So all their products

Track 1: 35:51

Warheads.

priyanshu-bansal_2_03-26-2024_224140: 35:53

right? It is a us brand.

Track 1: 35:54

Mm hmm.

amit-gupta_2_03-26-2024_131140: 35:56

what,

priyanshu-bansal_2_03-26-2024_224140: 35:56

So all their So

amit-gupta_2_03-26-2024_131140: 35:58

of the chocolate or what is the candy called?

priyanshu-bansal_2_03-26-2024_224140: 36:01

so they they do a lot of sour candies like hard boiled sour candies sour sprays The sour gel so it's all sour,

amit-gupta_2_03-26-2024_131140: 36:11

Okay. Okay. Okay. Okay. Warheads. I can see them now. Okay. So that's your favorite.

Track 1: 36:17

Mm hmm.

priyanshu-bansal_2_03-26-2024_224140: 36:18

right?

amit-gupta_2_03-26-2024_131140: 36:18

good.

Track 1: 36:19

So, by any chance, do you read books?

priyanshu-bansal_2_03-26-2024_224140: 36:22

I do but to be honest, not a lot. I

Track 1: 36:27

We'll skip our next question then. Okay. But by any chance, if you have to name a favorite book of yours, what would that be?

priyanshu-bansal_2_03-26-2024_224140: 36:35

See recently. I've just read this book harsh realities, that was based on the founder of mariko You Industry how he, you know, how he, was his insight on launching parachute oil and how he make that Ola brand so successful? So I really enjoyed reading that book and especially the insights which he had on his product and on his consumer was pretty interesting for me.

Track 1: 37:03

Great. Great.

amit-gupta_2_03-26-2024_131140: 37:05

Great. I typically, um, you know, bring up one other book when it comes to consumer goods. And I think it is very applicable for. Uh, someone like you, who's trying to, uh, create your own name in this, uh, crowded category. Uh, this book is called The Fortune at the Bottom of the Pyramid, by C. K. Pralad. I, I would recommend that you find that book and, and read that because is especially for, um, You know, how do you build a brand and be present at the bottom of the pyramid and make sure that your brand is selling to people who need them. I would recommend you to read that.

Track 1: 37:46

Go and buy that book. Please tell Dr. Prahalad that we have recommended it. Maybe we get some commission on it. Because Amit is recommending it all over.

amit-gupta_2_03-26-2024_131140: 37:55

Yeah,

Track 1: 37:55

Yeah.

amit-gupta_2_03-26-2024_131140: 37:56

been recommending that book for a long time now. So I should go and Mr. Pralad for my, you know, referrals. If not confectionery, then what would, uh, Yeah, I should be doing. You

priyanshu-bansal_2_03-26-2024_224140: 38:13

confectionary. You know, I would be surely in the FMB space, you know. If not confectionary, maybe I would be into snacks, healthy snacks, all those healthy chips made out of millets, ragi chips. And all it's like a healthy brand hundred percent it's It's doing huge

amit-gupta_2_03-26-2024_131140: 38:42

I have a large pack of is unsalted, unroasted, like the default version. it is

Track 1: 38:51

Mm-Hmm. Mm-Hmm.

amit-gupta_2_03-26-2024_131140: 38:52

than buying a small pack of uh which is which has got a lot of oil and spices and stuff like that. uh. You know, the one that is raw and untouched is much more cheaper and we can always, you know, it takes 30 seconds in the microwave to get it ready. uh, the Makhana market in the U. S. is blowing out of proportion because I think the Western customer or the Western consumer has realized what is the importance of consuming Makhana. So it is interesting.

Track 1: 39:29

So it's same here. It's same here also. And you know, for somebody like me whom we have seen Ana, you know, spilling over and you know, lying uselessly in, you know, a after in our vegetables and nobody used to pick them up, you know, otherwise it had no use at that time. So for me to pick up a hundred, we pack it, or 150, would we pack it from Ana? You know, just, you know, you call them Fox nuts. That's what you call them.

amit-gupta_2_03-26-2024_131140: 39:57

Correct.

priyanshu-bansal_2_03-26-2024_224140: 39:58

Yeah, it's fox now

Track 1: 40:00

So, and, and, you know, you increase the price by 10 times. So that's not done. I mean, for a person like me, who has seen it free. It has health value. Of course it has. Now your last question is your Billy Wonka question. Your dream collaboration.

amit-gupta_2_03-26-2024_131140: 40:17

Which company or brand who would you like to collaborate with?

priyanshu-bansal_2_03-26-2024_224140: 40:20

This is actually a very interesting question And i'll have to give it a nice thought I guess it would be Ferrara company from u. s they have a lot of categories a lot of products the kind of innovation which they do is mind boggling. We can't even think of that innovation. Like the kind of products which they have is fascinating. So for me to collaborate with them, you know, to be a huge, huge. Milestone for me.

amit-gupta_2_03-26-2024_131140: 40:49

So is the Ferrara the same as the Ferraro Rocher? Is that the same company?

priyanshu-bansal_2_03-26-2024_224140: 40:56

No, that is, that is different company.

amit-gupta_2_03-26-2024_131140: 40:59

Okay.

priyanshu-bansal_2_03-26-2024_224140: 41:00

the only different is that they end with a O.

amit-gupta_2_03-26-2024_131140: 41:04

right, right, right. So Ferrara, I see it now. The Laffy Taffy and yes. Okay.

priyanshu-bansal_2_03-26-2024_224140: 41:11

Right, right,

amit-gupta_2_03-26-2024_131140: 41:12

Jelly Bellies. The Jelly Bellies.

priyanshu-bansal_2_03-26-2024_224140: 41:16

right,

amit-gupta_2_03-26-2024_131140: 41:16

Correct, correct, that is. Yeah, those are really interesting. Jelly Belly. So they have so many flavors. Sometimes it's very difficult to figure out which flavor you're having, but it's it's a it's an excellent. Thank you so much for your time. Priyanshu. We really enjoyed to you we are we're cheering for you. We do hope that you become the Willy Wonka of India as you aspire to be. It is, uh, in fact, the Willy Wonka should then say that, okay, I want to be the Priyansh Bansal of India, right? So that, should be the aspiration.

priyanshu-bansal_2_03-26-2024_224140: 41:57

I'll have to, I'll have to change my name and I have to make it more fancy for that to happen.

amit-gupta_2_03-26-2024_131140: 42:01

it's all fancy, right? So, then it's all fancy, right? So, uh, he's the guy who's spreading joy with the candies, right? but yeah, it was wonderful but yeah, it was wonderful but yeah, it was wonderful speaking to you. We love your energy. We love your passion. energy. We love your passion. Uh, I'm thankful to your parents for supporting you, uh, at this young age, uh, to hopefully build, uh, an empire and a legacy for many, many generations.

Track 1: 42:34

Thank you. Thank you for being here.

priyanshu-bansal_2_03-26-2024_224140: 42:35

much. It was lovely talking to you. I had a great time talking with you.

amit-gupta_2_03-26-2024_131140: 42:41

you.