Bansiwala is the first D2C brand for Agra Petha. Bansiwala is the first brand in India to extend the shelf life of the product to 12 months without adding any preservatives. The long shelf life enables them to create a distribution across India without the need for cold storage.
Over the past few decades, consumers and their preferences have changed significantly, but traditional mithai has not kept pace with this. For instance, shoppers today require a premium and standardised product, an assurance of high quality ingredients, a digital experience for shopping and convenience of doorstep delivery. Bansiwala caters to these new age consumers, to create a standardised and modern experience with a product that has been part of Indian food for centuries and aims to make them a household sweet delicacy in India.
Bansiwala has innovated and launched a varied range of the product to suit different consumer palates and age groups including paan, chocolate, raspberry amongst the classic sukha and angoori petha. They are a digital first brand and are available on their own website along with marketplaces like Amazon, Big Basket, and Jio Mart.
Bansiwala has achieved significant milestones, including a revenue of INR 2.2 crore in FY 2022-23 and work on a healthy gross margin of 65% The emphasis on shelf life, premium packaging, and digital first approach has contributed to the brand's growth.
Bansiwala is led by a dynamic and experienced team of founders who bring a wealth of knowledge and expertise to the table. Mridu Goel, the co-founder and CEO, is a Chartered Accountant with an MBA from SPJIMR Mumbai. She comes from a background of marketing and finance and has built brands in Mondelez and Unilever. Her relevant experience and network in the industry along with her strategic and financial acumen will be a key in driving Bansiwala’s growth
Radhika Gawade, the co-founder and CGO, brings in solid sales experience and holds a Post Graduate degree in Nutrition & Dietetics. With over 18 years of experience in strategic planning and scaling businesses, Radhika has a deep understanding of consumer preferences and market dynamics. Her expertise in sales and her background in the healthcare industry provide a unique perspective that complements the brand's growth strategy.
The Indian sweet market is large and growing, estimated at INR 65,000 crore with an annual growth rate of 8%. The market is largely unorganised, presenting an opportunity for organised players to capture a significant market share. Currently the organised market stands at a mere 5% of the whole sweets market. Bansiwala aims to address the changing shopping behaviour and demand for hygienic, high-quality, and premium packaged sweets.
Founders have built revenues and the promise of petha with the brand name is strong. The product Petha is a hero SKU. We believe a strong D2C opportunity lies in this category with founders having already proved the model with some level of distribution. Women founders and the relevant background makes this an outlier in the coming years.
Bansiwala represents a unique opportunity in the organised Indian sweet market. Bansiwala's strong competitive advantages, diverse revenue streams, and notable milestones, coupled with the founders' pedigree and experience, make it a compelling investment opportunity. The brand is well-equipped to capitalise on the growing Indian sweet market and establish itself as a leading player in the industry.