Healthy Snacking का Craze तेजी से बढ़ रहा है, और मखाना इस बदलाव में बड़ी भूमिका निभा रहा है! Farmley के Co-Founder, Abhishek Agarwal के साथ इस Exclusive Interview में जानिए कैसे उनका Brand मखाना को एक Global Snack के रूप में पहचान दिला रहा है। हम चर्चा करेंगे कि COVID के बाद Healthy Snacking की Demand क्यों और कैसे बढ़ी, और Social Media का हमारी खाने-पीने की आदतों पर क्या असर पड़ा है। साथ ही जानिए कि कैसे Farmley जैसे ब्रांड Healthy Snacking को न केवल स्वादिष्ट और हेल्दी बना रहे हैं, बल्कि इसे आम लोगों के लिए Affordable भी कर रहे हैं। Farmley की Growth Story और उनकी Business Strategy को समझने के लिए यह खास बातचीत मिस न करें!
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00:00I get lots of Instagram stories of all the famous celebrities that keep on sending us
00:05I found your brand, it's great, it's great
00:08So after some time like Covid-19
00:10we got potential trends like social media
00:13people started realizing their awareness of health
00:15which is a shift in terms of people wanting snack
00:17but they don't want to feel guilty about it
00:19either I will taste very healthy, bland, untasting
00:22or I will taste all junk
00:24and I will taste in taste for one time
00:26तो उसके बीच में, how can I make my consumer, इससे हम किस तरीके से अपने consumers को free कर सकते हैं
00:34That's where, you know, that was the mission where we started
00:36Our parents have been giving us makhana since forever
00:40But khana अपने अभी start किया, क्योंकि अब यह fancy है
00:42Current generation are they consuming, all different flavors of makhana are coming up like anything
00:47So are you betting high on makhana?
00:49Yeah, yeah, yeah, so our focus to build makhana as a category not just in India, across the globe is super high
00:55Excitement and the faster result that we are getting in tier 2 cities
01:00Like that is like Indore, like Jaipur, like say, Chennai for example
01:05So our consumer generally ages between 18 to 35-40
01:09He has chosen brands very very carefully, so I think that's the one reason, he has preserved his equity
01:14So we onboarded Rahout David I think two years back, so that was the first brand ambassador we were onboarding
01:20At last two years, the general visibility of brand has really improved, we have invested in the brand building journey
01:26Hello and welcome to Paisa Live, today we are with this interaction with a special guest who is also the co-founder of Farmlay Mr. Abhishek Agarwal
01:34Welcome to our show
01:36Thanks, thanks for having me
01:37Abhishek you know a very emerging trend, I say it's a very fancy term, it's healthy snacking
01:44And in the past few years, you have seen social media in the past few years, I think it's a fashion
01:49If you are doing healthy snacking then you are in my group or otherwise you are out
01:53If someone is doing regular snacking then, so LS, healthy snacking is like yes
01:59How did this shift take them from you?
02:01In India we have always been good snackers, we have always been good snackers, we have always been good snackers with a snacking
02:07We are a generally snacking country, we have always been good snacking with each meal
02:14So after some time, like Covid, you have some trends in social media, people started realizing their awareness of health
02:20A shift came to me, people wanted to snack but they don't want to feel guilty about it
02:25I bought a chips packet today but now I have taken some x amount of calories, I have taken x amount of palm oil, I have taken x amount of sugar
02:32People started realizing that whatever indulgence I am getting, it's not healthy for me
02:36So that's why people started getting awareness that what is healthy at the end of the day
02:41And it's always comparative, so you are eating x y z thing today, what can be healthier from that
02:45So people don't want to compromise on taste, so in India taste is the benchmark, so if you are eating anything
02:51which is maybe as unhealthy as possible, but they can't compromise on taste
02:55So people are always looking for healthier options compared to whatever they are eating today
03:00But I think poor snacking habits, Kali Bhi, I would still blame social media only
03:06I think poor snacking habits also came from social media and maybe this is the Gen Z trend or whatever it is
03:13You know, untimely snacking, at night at 1 or 2. So I think even for that we should blame social media
03:23I think yeah, I think the timely meals that we used to do that got disturbed in the last two decades
03:28And people started consuming meals, snacks, snacking, anything at any point of time
03:34And the occasions where they are more happy about, so it becomes a responsibility for brands like us
03:40to create more options for the consumers which can satisfy their taste and give them to eat it different occasions
03:46And satisfy the urge also
03:48So if you want to eat something sweet, then you have an option like say date bite for example for family
03:53If you want to sneak something savory, you have roasted makanas for example
03:56So how can I match the same taste that people are used to and eventually give them the you know taste angle to it
04:02So it can't always be the healthiest, so there will be a journey of what is healthy
04:06And the customers will eventually evolve
04:09Right
04:09That we would not want to eat super healthy
04:12Either I will eat very healthy, bland, unt tasty
04:15Or I will eat some junk
04:16Or I will eat some junk and satisfy my taste for it
04:19So in that context, how can I make my consumers
04:22This confusion is that we can free our consumers
04:27That's where you know that was the mission where we started
04:30We want consumers to open them and think about what they are eating
04:34And family as a brand gives them the surety
04:37That the product they have made is healthy
04:39Guilty not guilty
04:40And they don't want to think about how much we ate
04:43How was it in Covid?
04:44Was there a setback or was there an opportunity for you?
04:47No, so for us it was a great opportunity
04:49Because many brands said that people were actually at home watching OTT
04:54And doing nothing or probably working from home
04:56So they were consuming more
04:58Right
04:59And as a brand because we were more online first at that time
05:02And people were at the home
05:04So they were exploring more things
05:07They were exploring new brands
05:08So it gave us a good boom at that time
05:11But yeah, eventually in order to maintain that boom
05:13We as a brand came up with a lot of products
05:15Came up with a lot of options
05:16And eventually we had a good growth journey from there on
05:19You have also used a word called Makhana
05:21I think Makhana in some time all of a sudden
05:24It just becomes so luxury, so fancy
05:27Before the time nobody used to eat Makhana
05:29Like everybody I talked to, you didn't eat Makhana before
05:32Now we eat Makhana
05:33You know, our parents have been giving us Makhana since forever
05:37But Makhana we have already started
05:39Because it is fancy
05:40Makhana is also an opportunity for Makhana
05:42The government is building a Makhana board in Bihar
05:45India I think, if I am not wrong, India is the largest producer of Makhana in the entire world
05:52Makhana is also a big fan of Makhana family
05:54So how are you encashing this Makhana?
05:57Right, so you will talk about one before today
06:00So Makhana was more of a staple product
06:02If you remember, it was offered in Prasad
06:04At the time, God offered something in Prasad
06:07Or at the time
06:09Two good things that happened
06:10One was the whole health journey that India went through
06:14We want to snack, but we want to snack healthy
06:16One good part with Makhana is that it is very light
06:18So if you eat one packet of chips, you will feel some loaded in your stomach
06:22But when you eat a full jar of Makhana even
06:25Then you will feel very light
06:26But isn't it bad also because you will feel full and then you keep on eating Makhana
06:31So it's very light, so it gives you a lot of fiber, it gives you a lot of calcium
06:34So it's very light
06:35And good second part is that because Makhana doesn't have any interesting taste
06:40So it blends well with all of the flavors
06:43So it becomes a very good snacking option because it's light
06:46And secondly, it blends well with all the flavors
06:48So Makhana is one category, it's flavored Makhana is one category
06:52So when you see the current generation what they are consuming
06:55So all different flavors of Makhana are coming up like anything
06:59But last 5 years, as a company we do a lot of Makhana
07:02We are one of the largest pairs of Makhana in the country
07:05We have our own processing center in Purnia which is a great hub for Makhana
07:11So are you betting high on Makhana?
07:13Yeah, so our focus to build Makhana as a category not just in India
07:17Across the globe is super high
07:19For the next 5 years, it is the most focused category for us
07:24It has given us results for the past 5 years and you know, we are doubling down on
07:27You know, so all lot of options there
07:29So we are betting really really high on Makhana
07:31And because we have done some background work in the past 5 years
07:35For the backend integration, we have good supply chain in Bihar
07:37We have good relationship with all the farmers there
07:40So yeah, Makhana is on the cards for us
07:42And not just in India, I think it's across
07:44So we are doing very good business in USA
07:46We are doing very good business in Canada, Dubai
07:49So the idea is to, you know, go globally with Makhana
07:53But in healthy snacking products, I have seen
07:56If you compare it with unhealthy snacking, it is definitely expensive
07:59Yeah, yeah, yeah
08:00And that is why I think, you know, a lot of people can't even actually afford it
08:03Right
08:04This is a very big problem
08:05Right, right
08:05So what are you doing in the family?
08:08You know, you can reach healthy snacking to every home
08:11Because you will see yourself somewhere
08:13I will see myself in my office
08:15Even if I look at the households which I know, friends I know
08:19There are many healthy snacking options available in a lot of people in their homes
08:23Correct
08:24I am not taking name of any brand
08:26Or I am not even taking name of family
08:28But if you look at someone's box, it comes in 1.5-200 range
08:31Correct
08:32Not everybody can afford that
08:33True, true, true
08:34So yeah, this is a responsibility for brands like us
08:37To be able to make eventually healthy snacking affordable
08:40Expensive cue means because of the ingredient that goes into making the product
08:44If you use the real ingredient, it will be more expensive
08:46Yeah, and the consumers who used to consume in middle class
08:49They are now shifting into those consumers
08:53Which are wanting to consume newer brands
08:56Looking to consume more premium things
08:58Have you seen that data?
08:59Yeah, the shift is really high
09:01And the percentage of consumers looking for those kinds of products are really high
09:06But still, you know, India is a big country
09:08There is a good mass of product
09:09Mass of consumers that we have to target
09:11So it's responsibility of brands like us
09:14To be able to make healthy snacking affordable
09:16So for example, makhana is expensive
09:17Okay
09:18So now we are making a product which is makhana chips for example
09:21Which is made of makhana flour
09:23Not fried, it's roasted ocean olive oil
09:25We are trying to make it at an accessible point of say Rs. 20
09:29Which makes it more accessible to say
09:31If I am able to target 20 crores from my big portfolio
09:35Now with these products, I can target up to 200 crores consumers of India
09:40So we have to innovate and we have to make products
09:42Which are affordable in nature
09:44And at the end of the day, it all comes down to innovation
09:47It all comes down to you know
09:48Pricing
09:49It's all comes down to pricing and how much R&D
09:51And how much focus you have in that sense
09:54So let me tell you, you have all your products in pan India
09:59But in any sector, any state
10:01Where there are unimaginable results
10:03Like oh my god, there is so much demand in this state
10:06Maybe I haven't
10:08I hadn't ever dreamt of
10:10So I think tier 1 we all expect
10:12You know, it will be in Delhi
10:14But yeah, the excitement and the
10:18Faster results that we are getting in tier 2 cities
10:20That is like Indore, like Jaipur, like say Chennai, for example
10:25But these are all deep pockets
10:28Deep pockets
10:29But the kind of growth we are seeing in these tier 2s that are unimaginable
10:33Is there any type of deep pockets?
10:35So for example Patna
10:36Yes, Patna is not deep pockets
10:37We are getting really good results from all the eastern parts of countries
10:40For example, we have accessibility from the Northeast
10:43We have products in Infar and Nagaland
10:46There also we are seeing a huge demand coming
10:48So there was accessibility issue there
10:50Now if you are able to give them those kinds of products
10:52At an affordable price point
10:53Once we are getting results like anything
10:56So our consumer generally ages between 18 to 35, 40
11:00That is the general age group
11:01Social media
11:02Those are the social media guys
11:03Where we are able to target
11:05Your brand ambassador if I am not wrong is Rahul Dravid
11:08Yes
11:08Right
11:09Why Rahul Dravid?
11:11I mean, everyone understands how to think about the brand ambassadors
11:13Right
11:14So we onboarded Rahul Dravid I think 2 years back
11:16So that was the first brand ambassador we were onboarding
11:20No, good choice
11:22I am just saying good choice
11:23Right, right
11:23But what do you think about it?
11:25Yeah, it is the biggest moment for any brand
11:27You are onboarding your first brand ambassador
11:29Who is going to tell your story to the consumers
11:31Others, yeah
11:31Right, so 2 main reasons
11:33I think he is one of the very few A-listers
11:36Who have preserved its equity really well over the years
11:38Exactly
11:39He is not a brand ambassador of multiple brands
11:42And he has chosen brands very, very carefully
11:44So I think that is the one reason
11:46He has preserved his equity
11:47He was the head coach of India at that time
11:50Right, right
11:50And instead he is such a big star
11:54He has preserved equity across 20 years
11:56If you see in a year you will see hardly 3, 4 brands
11:58No, even I don't see him
12:00Yeah
12:00Right
12:01Second part is because we were building trust in our brand
12:04And we were building
12:06Food is a major game of trust
12:08That your consumers should trust in your ingredients
12:10And because Rahul David
12:14You know, has that image of trust
12:16You trust him
12:17You do, you trust him
12:18And he is not your fancy guy
12:19So for example, he is not even on social media
12:21So such a hard decision for us
12:23As a company who is completely online
12:24I think parents can relate to him
12:26He is a parent himself
12:28Others, you see him as a coach
12:30You see him as a mentor
12:31You think that this guy will not be wrong
12:33I mean, this guy will not be wrong
12:35You see him in that image
12:36At the time of onboarding him
12:38You know, it was such a great journey with him
12:40Like he understood the whole portfolio
12:42What is the brand?
12:44He himself tasted all kinds of products
12:46So
12:46Was he happy?
12:47Yeah, he was really happy
12:48The kind of work that we do
12:49But it was a great
12:50So at the time of shoot
12:51I was there with him
12:52So we had a great interaction of about one and a half hours
12:55So he really cares about the brand
12:57That he endorsed
12:58So that's one of the main two reasons
13:00We on-boarded Rao Travel at that time
13:02Which is his favorite farmless snack
13:04So I think Makhana
13:05He really
13:05You keep sending him Makhana
13:09Hi, happy Holi
13:10We are sending you Makhana
13:11Hi, happy Diwali
13:12We are sending you Makhana
13:13He is a really good fan of nuts
13:15In general
13:16So nuts and Makhana is
13:17You know, good
13:19Last two years
13:20The general visibility of brand
13:22Has really improved
13:22We have invested in the brand building journey
13:25So now you can find us across Pan India
13:27You can find us on airlines
13:28You can find us on airports
13:29You can find us on
13:30Get a lot of Instagram stories
13:32Of all the famous celebrities
13:34That keep on sending us
13:36You know, I found your brand
13:38It's great, it's great
13:38We get those kinds of stories as a brand
13:41So in the next two years
13:44The focus is to build our offline segment
13:46To build heavily
13:47To invest heavily
13:48You know, in that channel
13:49So that's where the eventual game is
13:51Is for any food brand
13:53In India, most of the channels
13:54Are now covered
13:56I think to be able to
13:58Do good exports
13:59Like the U.S.
13:59The big supermarkets
14:01We want our products there
14:03At least targeting good
14:04Indian diaspora
14:06So that's where you know
14:07We really want
14:07That there are products
14:08Especially Makhana
14:09Because you know
14:10It's in the journey
14:11So I think good exports
14:13Channel is where you know
14:15We eventually want our products to be
14:17That's where the eventual
14:19Game
14:19Right
14:20Offline
14:22How many offline stores do you have in India right now
14:25And how much
14:26In 2020
14:27We are talking about
14:29For about
14:302027
14:31Two years
14:31And how much
14:32Expand to expand
14:33Now what's happening to you have in India right now
14:34What's happening to you have in India right now
14:35In India right now
14:36We are talking about
14:37So as of now
14:39We are approximately 25,000 stores
14:42Offline that we are there
14:43Across those different supermarkets
14:45Modern trade stores
14:46Small canna stores
14:47The target is to reach
14:48About 2 lakh stores
14:49By next 18 to 20 months
14:52And for that
14:53We are developing good teams
14:54We are developing good markets
14:56So that's where we are investing
14:58The currently as a brand
14:59We are investing heavily into
15:01Do you also target your tourist areas
15:03For example
15:05I'm just giving an example
15:06Yeah
15:06Andaman
15:07Lakshudeep
15:08There are tourist destinations
15:09That's where we are doing
15:10Lakshudeep is on the cards for the government
15:13Right right
15:13So all the tourist destinations
15:15Because people
15:16Are going there
15:17Tend to snack more
15:19During the travel
15:20Right
15:20So those becomes
15:21Really good destinations for us
15:23So for example
15:23All the northeastern parts
15:24I was talking to you about
15:25So we get a lot of good demand
15:27From there
15:28So the price points
15:28You are really
15:29You know
15:30Not expecting
15:31I get expecting products
15:32At those price points
15:33To move into those areas
15:35Your Kashmir for example
15:36So we get good results
15:37In those destination areas
15:40Where people are traveling
15:41And because they are traveling
15:42They tend to snack more
15:45And because you get
15:46The products available there
15:47There people respect the brand
15:49And you know
15:49Eventually you get
15:50The demand from theirs
15:52Out of all the products
15:54Which is your personal favorite?
15:57So there are two products
15:58So one is your family date bites
16:01So it's a sweet
16:03Made of dates and dry fruits
16:05No added sugar
16:06No preservative
16:07It's a clean ingredient product
16:08But it tastes similar to like
16:10Any sweet
16:10So we launched that product
16:12About 18 months back
16:13And it is giving us like
16:15Results like anything
16:16So family date bites
16:17Becomes my personal favorite
16:19And second is obviously
16:20Makhana
16:20You will keep on listening
16:22Makhana when you come to our office
16:23No, no, no
16:24It's okay
16:25So those are the two
16:26You know
16:26The products that I
16:27That you love
16:28And you keep snacking on
16:30And which are the most selling ones
16:32Both online and offline
16:34So date bites are there
16:35Yeah, date bites is there
16:36Really selling well
16:37Across all the channels
16:39Across all the consumer groups
16:40Across all the price points
16:42So date bites is one product
16:43Which has really come out
16:45Well in the past
16:46One and a half years
16:48Second is our flavored range
16:49Of Makhanas
16:50Which is Himalayan salted Makhana
16:52Peri peri Makhana
16:53Those kinds of products
16:53So it comes in a jar
16:56So those are the two
16:57Highest selling products
16:59And there are some products
17:00Which are on the cart
17:01Which is
17:01I was mentioning
17:02Makhana manchis
17:03Which is a stick
17:05Which is a snack
17:06And chips
17:07Kind of format
17:08Made of Makhana floor
17:10This is one product
17:10Which is picking up
17:12And we are
17:13Eventually waiting for
17:14The consumers
17:15Good feedback across it
17:16Now you said that
17:17The small stores that are
17:19That is where exactly
17:20The game is
17:21I am not taking
17:22Name of any brands
17:23But I do see
17:24Makhana's package
17:26Those small packages
17:27On different
17:28Chaywala
17:28Thelaywala
17:29Coca's
17:30Everywhere
17:31Farmlake
17:32Now there is no
17:33Small packaging
17:34Now there is no
17:35Right
17:35No we have
17:36So we have
17:37Product ranging from
17:3930 rupees
17:3920 rupees
17:40To 50 rupees
17:41In that small pouch range
17:43It's still not
17:44Distributed that well
17:45So that's why I was
17:46Talking to you about
17:46The next 18-20 months
17:48The goal is to reach
17:49To those kinds of
17:50Stores
17:50And you know
17:51Because that's a
17:52Hands-on thing
17:53You went down
17:54You went out of your
17:54Office
17:55And you take a
17:56Chai
17:56There is a very
17:56Big segment
17:57That you know
17:57As a brand
17:58You want to target
17:59So we have
18:00Made the product
18:01We have not
18:01Distributed it
18:02That well
18:02As of now
18:03But yeah
18:03The eventual
18:04Game is to do
18:04That
18:05To be able to
18:05Do that across
18:07From where did
18:08You do your
18:08Studies
18:09And
18:10So I graduated
18:11From IIT
18:11Roorkee
18:12In 2016
18:13From mechanical
18:13engineering department
18:14So after that
18:15Even just
18:16After graduation
18:17I started this
18:17Up
18:18So when you
18:18Were in IIT
18:19Did you ever
18:20Think of
18:20That yes
18:21I will make
18:21Healthy snacking
18:22Brand as
18:22Friends
18:24Like if you
18:24Sit in a group
18:25Yes I want to
18:26Make this
18:27I want to
18:27Make that
18:27I will start
18:28With healthy
18:29Snacking
18:29Or was your
18:30Aim to do
18:31Something else
18:31And now
18:32You are doing
18:32Something else
18:33So when IIT
18:35Obviously
18:35There is a good
18:36Explosion
18:36There is
18:37So I come
18:38From Jaipur
18:38And because
18:39I come
18:39From a business
18:40Family
18:40I had that
18:41Urge
18:42Like you
18:43Know eventually
18:43When IIT
18:44We will
18:44Know how to
18:45Business
18:45Do they
18:46Learn
18:47And eventually
18:47Business
18:48To
18:48Business
18:48That was the
18:49Aim
18:49When IIT
18:50Was to
18:50Make a good
18:51Brand
18:52With food
18:53I had a passion
18:56At the beginning
18:57That we should
18:57Have good food
18:58I think it
18:59Started from
19:00Because
19:00You know
19:01The whole country
19:02Depends on
19:03Agriculture
19:03As a segment
19:04And because
19:05Supply chain
19:05Is a big
19:06Ghaap
19:06In India
19:07When a farmer
19:08And a consumer
19:09Is something
19:09Is something
19:10In it
19:11There are a lot of
19:12Supply chain
19:12So the start
19:14was there
19:15That we can solve
19:16Supply chain
19:16That we can
19:18Solve
19:18So we started
19:20That
19:20In 2017
19:21Launched
19:22When it was
19:22Tecnify Biz
19:23So
19:24And then
19:25It got
19:25Rebranded
19:25To Farm
19:26Play
19:27But yeah
19:28The passion
19:28For food
19:28Was always
19:29There
19:29And during
19:30IIT
19:30The focus
19:31Was
19:31How to
19:32Be able
19:33To learn
19:33How to
19:34Business
19:34How to
19:35Learn
19:35Our
19:35Aluminize
19:36Those
19:36Businesses
19:37Built
19:38And
19:38Interact
19:39And
19:39Learned
19:40How to
19:40How to
19:40Build
19:41Business
19:42So
19:42Yeah
19:43That's
19:43The
19:43You
19:44Have
19:44Aluminize
19:44Any
19:45Other
19:46Business
19:46Person
19:48Any
19:48Entrepreneur
19:49Who
19:50Are
19:50Actually
19:51Inspired
19:51With
19:52So I
19:52Think Razor
19:53Pay Founders
19:53Hrshile Shashang
19:54Both are
19:54Good
19:55Friends
19:55Slash
19:56Mentors
19:57You
19:57Know
19:57We
19:58I
19:59Have
19:59Personally
19:59Learned
20:00A
20:00Lot
20:00From
20:01And
20:02Other
20:03Aluminize
20:03Which
20:03Interaction
20:04Hrshile
20:05Hrshile Shashang
20:06Hrshile Shashang
20:06Hrshile Shashang
20:07Hrshile Shashang
20:08Hrshile Shashang
20:09Hrshile Shashang
20:09Hrshile Shashang
20:10का एक क्रेस्ट है, वो बिल्ट किया.
20:12You know, I didn't see family on
20:14any of the shark tank season so far.
20:16So, यह किया डिलिबरे अटेंट
20:18कि shark tanks में नहीं जाना, अपना
20:20काम बढ़िया चल रहा है, या फिर जाने का
20:22सोचा है, अभी नहीं जाते है, प्रोबबली
20:24sometime later we'll go.
20:26So, obviously, there's no thought on it.
20:27जरुद नहीं जरुद नहीं जरुद नहीं जरुद नहीं जरुद भागवान की कृपार हैं।
20:33I think eventually, it gives you a good marketing,
20:35it's a good marketing platform as such.
20:37But yeah, we just, we have not
20:39contemplated it that properly.
20:42Do you think you need it?
20:44So, yes, this
20:44has to be discussed more, I think, we have not
20:47thought of it as deeply
20:49as possible. And how do you manage your
20:51fundings and everything?
20:53So, yeah, we are a funded company, we are a VC funded
20:55company, we have raised 3-4 rounds in the
20:57past, and
20:59that money has gone into, you know,
21:01developing the supply chain, developing the products,
21:03building teams, those kinds of
21:05forward investments. So, yeah.
21:08How big is the family team now?
21:10So, we are a group of 375
21:11people now.
21:13So, across all our factories,
21:16across all our sales
21:17fields, and in our headquarters
21:19is in Oida. So, combined all this,
21:22we have a team of 375 people now.
21:24So, that's great.
21:25If we talk about the whole
21:27healthy snacking industry,
21:28where do you see this
21:30industry right now, and where do you
21:32see this industry emerging,
21:34and reaching in the next 2-3 years?
21:36Give me a figure, good figure.
21:38I think healthy snacking is an inflection
21:40point where you see
21:42a growth, that it's a very fast
21:44growth, but it's an inflection point
21:46after this, the whole industry
21:48eventually changes. So, I think we are
21:50growing through that journey, where
21:51healthy snacking is a good growth
21:53because it's an inflection point.
21:55After that, you will see a tremendous
21:57growth in this segment.
21:59Especially tier 1 and tier 2,
22:01people are not looking for anything
22:03and healthy snacking. People are looking
22:04for great options.
22:05And because it's a great market,
22:08so, eventually more brands
22:10will come in, and it will help
22:11eventually the market to rise.
22:13So, we are expecting at least
22:15a lakh crore kind of a market
22:17in the next 2-3 years, and
22:20the brand which are able to give
22:21satisfying products for their
22:23consumers will eventually win that
22:24market. But, great growth,
22:27great room for all the brands.
22:29So, it's the market to be in,
22:31so to say.
22:32Great.
22:33If we talk about
22:34some brand that you build,
22:36then it's not that everything
22:38is correct, correct, correct,
22:39correct, correct, correct.
22:40Sometimes there are mistakes
22:41and sometimes you think
22:42that this mistake was a mistake,
22:46and probably we will not repeat it.
22:49Of course, I'm a founder,
22:50like how can I repeat mistakes?
22:51But, yes, this is a mistake
22:52in the beginning.
22:53Right, right.
22:54If you are in a consumer brand,
22:55you are bound to make
22:57a lot of mistakes.
22:58Because consumers...
22:59Product failures, design failures...
23:00Yes, a lot of things.
23:01A lot of things.
23:02In India, there are a lot of
23:03consumers in India.
23:04You can't imitate that
23:06that I have to make
23:07this type of consumer
23:08to make this type of product.
23:09So, eventually, you tend
23:10to make a lot of mistakes.
23:11So, for example,
23:12when we were thinking
23:13about healthy things,
23:14we were of the view that
23:15we are making healthy products.
23:17How do you taste it?
23:18But, because it's very healthy,
23:19XYZ protein, everything,
23:21people will eventually consume.
23:23But, when you put
23:24those kinds of products
23:25in the market, it comes back
23:26like anything.
23:27Like, just to be able
23:28to realize this fact
23:29that in India,
23:30we can't compromise
23:31in India.
23:32Right.
23:33That's why we did
23:34a lot of mistakes.
23:35Very small, small examples.
23:36Like, the fruits,
23:37for example,
23:38are very little sugar
23:39in India.
23:40To be able
23:41to make them
23:42a good self-life.
23:43We thought that
23:44we will zero it.
23:45And, because we have
23:46zeroed sugar,
23:47eventually,
23:48the taste of the taste
23:49has become a lot.
23:50So, if you are not
23:51able to match the taste
23:52that people are used to,
23:53but you don't have
23:54innovation in that,
23:55you will tend
23:56eventually.
23:57So, that was the great
23:58learning that we came
23:59across from the mistake.
24:01When we talk about
24:02food,
24:03consumption,
24:04packaging also plays
24:06a very vital role.
24:07I mean,
24:08packaging is not exciting,
24:09I might actually go from
24:11here to here.
24:12Right.
24:13This is not.
24:14How much is the focus on
24:15packaging?
24:16No, no.
24:17Packaging is your first
24:18touch point of a consumer
24:19that you talk about
24:20the brand.
24:21I don't know.
24:23I don't know.
24:24but I feel like it's exciting
24:25and interesting.
24:26But, I feel like it's
24:27exciting and interesting.
24:28But, it's also
24:29dravid.
24:30So, I might actually
24:31not just dravid.
24:32Basically, packaging
24:33is the first touch point
24:34that the brand
24:35can talk about
24:36the consumer's brand.
24:37So, you have to
24:39carefully design
24:40everything,
24:41make it back,
24:42make it back,
24:43make it back,
24:44make it back,
24:45make it back,
24:46make it back,
24:47make it back,
24:48make it back,
24:49make it back,
24:50make it back,
24:51and eventually,
24:52tell the story
24:53and eventually,
24:54there's lots and lots
24:55of bandwidth
24:56that goes into
24:57making a single packaging.
24:58Like, you have to
24:59make a single month
25:00and you have to
25:01make a product
25:02ready for three months
25:03and then,
25:04you have to think
25:05what is the right packaging
25:06for consumers
25:07to decide.
25:08So, packaging
25:09eventually plays
25:10a really big role
25:11in success of any product,
25:13either online
25:14or offline.
25:15So, that has to be
25:16very thought-through
25:17and very,
25:18you know,
25:19and time
25:20to do it.
25:21It's a very good product
25:22and its packaging
25:23is not good.
25:24We have seen
25:25how they feel
25:26that product
25:27with good packaging
25:28we have seen
25:29the great success
25:30to this.
25:31But Abhishek,
25:32in the market,
25:33there's a lot of competition.
25:34It's just not you,
25:35there are multiple
25:36other players
25:37who are really,
25:38they say,
25:39Chil's eyes
25:40or who's eyes
25:41are?
25:42Baz's eyes
25:43He says,
25:44Baz's eyes
25:45are sitting
25:46in the house
25:47we want to be
25:48number one
25:49with Makhana.
25:50Have you ever
25:51faced the heat
25:52of the competition?
25:53And how do you
25:54want to keep yourself
25:55at par
25:56with the competition?
25:57Look, food
25:58is because
25:59it's a big market
26:00there will always
26:01be competition.
26:02Whether you have
26:03big legacy brands
26:04or new start-up brands
26:05there will eventually
26:06be competition in
26:07Makhana
26:08because it's a talk
26:09of the town
26:10it's always like
26:11when industry
26:12evolves
26:13100 people
26:14enter
26:15and eventually
26:16you go through a process
26:17and you will find
26:18after 3-4 years
26:19there are 3-4 brands
26:20that are eventually
26:21ticked
26:22and then they are
26:23I think that is
26:24the time period
26:25where you decide
26:26that it's a product
26:27differentiation
26:28and brand differentiation
26:29So,
26:30you have sourcing
26:31and made it
26:32and made it
26:33and made it
26:34and made it
26:35and made it
26:36and made it
26:37and made it
26:38and made it
26:39and made it
26:40and made it
26:41and made it
26:42and then there is
26:43that you communicate
26:44the same thing
26:45or not
26:46So, for example,
26:47family
26:48if I am selling chips
26:49then I am selling
26:50so my brand
26:51tells me that
26:52I am selling chips
26:53but I am a family
26:54because people
26:55perceive me
26:56as healthy snacking
26:57so my brand story
26:59falls easily
27:00in Makhana
27:01that becomes
27:02a brand differentiator
27:03so product differentiation
27:04plus brand differentiation
27:05those two
27:06aspects
27:07gives you
27:08an eventual
27:09lead in the game
27:10so that's how
27:11you eventually
27:12will win the game
27:13One more question
27:14I forgot to ask
27:15in between
27:16Shark Tank
27:17for example
27:18let's just
27:19consider that
27:20you are in Shark Tank
27:21out of all the sharks
27:22what do you want
27:23who is on board
27:24is here
27:25money
27:26I am not talking about money
27:27from expertise
27:28experience
27:29that's it
27:30So, I think
27:31Aman
27:32will be great to have
27:33I think
27:34the kind of brand
27:35that he has created
27:36he understands
27:37Indian consumer psyche
27:38really well
27:39I think
27:40he has also built
27:41a great brand
27:42out of India
27:43and
27:44eventually the same
27:45consumer segment
27:46eventually the same
27:47you know
27:48the kind of lifestyle
27:49they are promoting
27:50so I think those two
27:51will be great to have
27:53I hope
27:54I hope
27:55they will see
27:56and after that
27:57they might actually
27:58contact to themselves
27:59My last question
28:00where do you want
28:01to see Farmlay
28:02in the next
28:032-3 years
28:04it's a very cliched question
28:05everybody asks in the end
28:06so I have also
28:07made it
28:08which would be
28:09the biggest challenge
28:10on your way
28:11So I think
28:12the vision is very clear
28:13that in the next 2-3 years
28:14how are we able
28:16to make this
28:17really big brand
28:18that
28:19we don't want to be
28:20strict to a healthy snacking
28:21so Farmlay eventually
28:23wants to become
28:24a snacking brand
28:25and health becomes
28:26a benchmark
28:27that if a family is healthy
28:28it will be healthy
28:29but how do you make
28:30Farmlay a big snacking brand
28:32so that's
28:34you know
28:35available across
28:36across Pan India
28:37across all the offline stores
28:38all the pincoats covered
28:40so how are you able
28:41to
28:42give that satisfaction
28:43to Pan India
28:45basis
28:46with your products
28:47I think that's where
28:48we want to be
28:49in the next 2-3 years
28:50Abhishek you know
28:51our Prime Minister
28:52has
28:53promoted
28:54Millets
28:55in a big way
28:56he is talking about Millets
28:57he needs to eat Millets
28:58he needs to eat
28:59all the movements
29:00What are the family
29:01doing on Millets
29:02So
29:03last year
29:04it was Millets
29:05which is going to be
29:07this year
29:08so
29:09do you have plans
29:10to add Millets
29:11in your products
29:12or have Millet products
29:13in the future
29:14still in the discussions
29:15we have not
29:16finalized it yet
29:18because there are
29:19a lot of things to do
29:20we
29:21are currently
29:22using dry fruits
29:24as a core ingredient
29:25in all of our products
29:26and dry fruits
29:27because it gives you
29:28a nutritional level
29:29those kinds of things
29:30so as a brand
29:31we have been able
29:32we are currently
29:33focusing on
29:34ingredients like dry fruits
29:35as of now
29:36so that's where our
29:37next 2 years
29:38seems to be
29:39so
29:40eventually we can add
29:41but as of now
29:42because
29:43as a brand
29:44we have to have a focus
29:45like what are we building
29:46so as of now
29:47it's more
29:48on dry fruits
29:49dry fruit-led ingredients
29:50makhana-led ingredients
29:51those kinds of things
29:52but yeah
29:53eventually
29:54you know
29:55Millets will have to be
29:56on the cards
29:57it's a great ingredient
29:58the kind of nutritional value
29:59it adds on the table
30:00so
30:01yeah it will have to be
30:02on the brand
30:03someday
30:04my last question to you
30:05would be
30:06if not family
30:07and you really want to
30:08binge on something
30:09you really want to eat
30:10something
30:11what other healthy snack
30:12or snack brand
30:13you actually like
30:14well okay
30:15I'm the founder of family
30:16okay
30:17but sometimes you also
30:18feel like having something
30:19else
30:20what is that something else
30:21so
30:22I like eating chocolates a lot
30:25so
30:26good brands doing
30:27healthy chocolates
30:28tend to be on my wish list
30:32and
30:33I think
30:36yeah
30:37healthy chocolates
30:38you answer that very smartly
30:40I know that I don't know
30:41about a competition brand
30:42I am not using a best brand
30:43to have something
30:44that I want
30:45but I don't know
30:46because brands
30:47consume
30:49because
30:50at the end of the day
30:51everything is made
30:52खाले बनाई होता है, but yeah, I think, yeah, healthy chocolates is one.
30:58Where do you get these healthy chocolates?
31:00So I think they're good imported chocolates.
31:02Amul is doing good work on those aspects, but eventually there's a good imported chocolate that comes.
31:08Abhishek, almost each and every brand has one vision, that is IPO.
31:13I'm pretty sure there's a vision of a family of the IPO.
31:16When can we see that vision or the dream in place?
31:20I think really soon, you know, it's on the cards, we are, this year, that year, this year, next year, no, not that soon, the kind of growth we are seeing, we are eventually seeing that across, but yeah, in the coming next three to four years, you can see that aspect coming soon.
31:39Do let us know in advance, we will pre-apply. Well, thank you so much Abhishek, it was such a fun conversation with you, we hope that there are many products, we will taste it, we personally love your products and good luck, we will have this conversation again once you have the IPO rolled out.
31:58Thank you, thanks for having me, such a great conversation, bye-bye.