In the latest episode of ‘Shark Tank India Season 3, the indigenous Indian footwear brand ‘Bacca Bucci’ did not manage to captivate the interest of the sharks.
During the pitch on the business reality show, the founders of ‘Bacca Bucci’, Natwar Agrawal and Anuj Nevatia, sought a Rs 2.5 crore investment for a one percent equity stake in their fast-fashion footwear brand, which primarily targets the Gen Z and youth demographic.
‘Bacca Bucci’ aims to cater to diverse preferences within the youth market by offering a wide range of products under various sub-categories. Their product lineup includes boots designed for trekking and adventure, sports shoes, streetwear, and accessories.
Starting in 2014, they have delivered 30 lakhs plus products till date.
Namita Thapar (Executive Director of Emcure Pharmaceuticals LTD) said: “Please tell us about your background. And how did you think of starting this?
“We both have chartered accountancy backgrounds. We were doing jobs. I was in loan syndication. Anuj was in EY. When I was doing a job, I needed shoes. When I compared the prices back in 2014, there was a significant difference between online and offline prices,” Natwar said.
The founders of ‘Bacca Bucci initially identified a gap in the market where online shoes tended to be expensive, while offline options were more affordable. To address this imbalance, they started selling shoes as a side hustle. Over time, their venture gained traction, and today, they are fully committed to running the business.
Anupam Mittal (Founder and CEO of Shaadi.com): “Have you extended your business?”
Natwar replied: “It’s a category extension. We launched T-shirts in October.”
Upon reviewing the products presented by ‘Bacca Bucci’, Deepinder Goyal, Founder and CEO of Zomato, expressed disappointment, stating, “There’s no consistency in branding. The design language will score two out of ten.”
Vineeta Singh (Co-Founder and CEO of SUGAR Cosmetics) said: “l like the quality.”
Namita Thapar commented on the lack of a Unique Selling Proposition (USP) and emphasized the importance of branding, culture, and having a clear vision. She expressed her lack of excitement about the business and decided not to invest, stating, “I don’t see a USP. Branding… It’s important to create a culture. It can’t be created on just pricing. I think you should focus on it. But without a clear vision, I’m not excited about this. So I’m out.”
