How Two Brothers From Bengaluru Challenged The Chewing Gum Industry And Took Shark Tank India By Storm

While discarded chewing gum is a nuisance and an environmental hazard, Bengaluru-based Gud Gum aims to change that notion with a game-changer spin on the product. Founded by Mayank B Nagori and Bhuvan Nagori, Gud Gum is carving a niche for itself by producing 100% natural, plastic-free chewing gum. This innovative idea recently caught the attention of investors in the third season of Shark Tank India.

What to know: The Nagori brothers, with their unique backgrounds in the food industry and plastic awareness, launched Gud Gum in 2022. Mayank, with his experience in food and beverage sales, recognized the untapped potential in the chewing gum market. "The billing counter at stores seemed like the perfect spot for our gum to catch the eye and sell well," he says.

Gud Gum stands out by using natural ingredients like tree sap and natural sweeteners, steering clear of the harmful additives in traditional gums. The brand boasts a range of flavours, including charcoal, strawberry, raspberry, and lemon, ensuring all its products are sugar-free, plastic-free, and biodegradable. This aligns perfectly with the brothers’ vision of creating a product that’s better for people and the planet.

See also: Rejected For A Peon Job For Not Knowing The Apple Logo, This Man Built Bihar’s Own Uber Alternative

Their pitch on Shark Tank India highlighted the brand’s eco-friendly attributes, leading to significant interest from the show's investors, the ‘Sharks’. While Namita Thapar backed out, citing taste and market concerns, other Sharks were keen to invest. After some negotiation, the brothers struck a deal of ₹80 lakh for 10% equity, with a 4% royalty until the investment is recouped.

The Shark Tank experience was more than just an investment opportunity for the Nagori brothers. "It brought us recognition and appreciation from friends and teachers," Mayank shares. The brand has seen a remarkable increase in orders and sales post the show, with a surge of 25 to 30 times in sales overnight.

Read next: This 89-Year-Old Grandmother From Ahmedabad Turned Her Crocheting Passion Into A Global Business

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: EducationGeneralBenzinga Inspire

Loading...