Shark Tank India, the most famous business reality TV show, has returned for a third season following two amazing seasons. With a panel of 12 famous sharks, the latest season began in January 2022, and has already fascinated audiences.
In the most recent episode of Shark Tank India 3, a confectionery company named The Cinnamon Kitchen’s founder Priyasha Saluja came to pitch her unconventional concept, which amazed the audiences and the judges.
Priyasha Saluja is a self-taught plant-based chef, and a certified hormone health coach, who founded her company, The Cinnamon Kitchen.
She did her schooling at Delhi Public School, Noida. Later, she studied for her bachelor’s degree in management studies (Hons.) at Delhi University’s Keshav Mahavidyalaya (BMS). Thereafter, she began her career in a marketing role at Asian Paints, PwC and Zodiac Clothing Co. Ltd.
Then she transitioned to the digital world and worked as a social media specialist at Dentsu Aegis Network. She also worked as an account executive in various companies advertising industry.
In 2019, She embarked on this culinary journey with her bakery due to her battle with PCOS since the age of 13. The Cinnamon Kitchen is one of India’s first 100% gluten-free, preservative-free, refined sugar-free, and flour-free plant-based D2C brands that has now entered into the retail space. She started her company as a home kitchen with only Rs 50,000, and has now become a full-scale factory operation that receives thousands of monthly orders and has numerous loyal customers including A-list celebrities.
In terms of sales, the company has witnessed remarkable success. From recording Rs 1,40,000 in the first year, to Rs 12,50,000 the next year, the company is expecting to close this year with Rs 6 crores sales. Their amazing success has also been featured in prestigious publications such as Vogue, Elle, Femina, and Harper’s Bazaar
The unique idea of the product and the remarkable sales of the company highly impressed all the sharks which included Aman Gupta, Namita Thapar, Vineeta Singh, Anupam Mittal, and Deepinder Goyal.
Although Anupam Mittal highlighted the poor packaging of the products, most sharks showed interest in the company.
They even got more stunned, when they got to know Priyasha’s remarkable credit score of 838. Priyasha said, “I have a very good credit score. I’m already getting a loan at a lower interest rate.” On this Deepinder Goyal said, 'These are real sharks’.
After numerous negotiations about the deal, Aman Gupta made the final offer of Rs 60 lakh for 5 per cent equity, and they finalized the deal. In this way, the valuation of The Cinnamon Kitchen was kept at Rs 12 crore.
