After its appearance on Shark Tank India last year, the brand had seen a 100 times growth in sales, it shared. Comparing the sales of last fiscal with this year so far, Kabra said the company has been seeing a 40-50 per cent growth.
In the last fiscal, the brand clocked Rs 30 crore in revenue and it is expecting to cross Rs 70 crore this fiscal, it shared with ETRetail in its previous interaction. Currently, it is profitable and aims to stay focused on the profitability of its business, it said.
On the overall revenue contribution, the brand shared that it generates about 70-80 per cent of its revenue from general trade outlets including mom-and-pop stores, kirana, and general stores. About 7-10 per cent of its revenue is generated from modern trade outlets. And rest comes from international markets, social commerce, and e-commerce marketplaces including Amazon, Flipkart, Swiggy Instamart, Zepto, and Blinkit.
It has also collaborated with the fintech firm Cred to extend its business reach.
Speaking on the brand positioning and pricing strategies, Kabra said, “We are very well positioned with a product range from Rs 10 to Rs 30 price points that are not heavy on consumers’ pocket. We have created a fun category and I think it will continue to grow in the coming years.”
With the current price points, the brand has been able to penetrate deeper into the tier 2 and 3 markets, it said.
On the recent product launches and entry into the FMCG category with cornsticks and cream rolls, Kabra shared, “Our product launches are very competitive in terms of pricing. And we are also looking at a volume scale to reach a net profit of 15-18 percent in the food and beverages space.”
Further, the brand shared that it is present at 22,000 outlets and expects to double this growth to reach 55,000 outlet coverages by the end of this fiscal year.
Talking about its manufacturing, Skippi shared that it manufactures its ice popsicles in its manufacturing facility in Hyderabad. And it outsources cornsticks and cream rolls through contract manufacturers.
To expand its reach and cater to the demand of consumers across India, Skippi is looking to set up a larger facility in Hyderabad.
Previously, it had raised $133,894.80 from Shark Tank India for a 15 percent equity. Now, it looks to raise more funds to invest in such kind of capacity expansion.
Currently, the brand has a presence in international markets such as the UAE, Kuwait, Qatar, New Zealand, Canada, Fiji Islands, and more. It also sees a huge opportunity in exporting to different global markets. However, it plans to go with a slower pace for global expansion as it looks to scale first in the domestic market.