Skippi, the ice popsicle brand, is aiming to achieve a revenue of INR 100 crore in the next financial year 2024-25, as stated by Ravi Kabra, the company’s co-founder.
After its feature on Shark Tank India last year, the brand noted a 100-fold surge in sales. Comparing last year’s fiscal sales with those of the current year, Kabra mentioned that the company has witnessed a growth of 40-50 percent.
In the last fiscal year, the brand recorded a revenue of INR 30 crore. Looking ahead, it has set its sights on exceeding INR 70 crore in the current fiscal year. The company is currently in a profitable position and underscores its dedication to maintaining a focus on the profitability of its business.
In terms of overall revenue contribution, the brand revealed that approximately 70-80 percent of its revenue is derived from general trade outlets, which include mom-and-pop stores, kirana shops, and general stores. Modern trade outlets account for 7-10 percent of its revenue, while the remaining share comes from international markets, social commerce, and e-commerce platforms such as Amazon, Flipkart, Swiggy Instamart, Zepto, and Blinkit.
Additionally, it has partnered with the fintech company Cred to expand its business reach.
Speaking on the brand positioning and pricing strategies, Kabra said, “We are very well positioned with a product range from INR 10 to INR 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.”
The brand stated that, leveraging its current pricing strategy, it has successfully expanded its presence in the tier 2 and 3 markets.
On the recent product launches and entry into the FMCG category with cornsticks, 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.”
Moreover, the brand disclosed its current presence at 22,000 outlets and anticipates doubling this figure, aiming for coverage at 55,000 outlets by the conclusion of the fiscal year.
Discussing its manufacturing process, Skippi mentioned that it produces its ice popsicles at its manufacturing facility in Hyderabad. Additionally, it relies on contract manufacturers to outsource the production of cornsticks and cream rolls.
In order to broaden its reach and meet the growing demand of consumers nationwide, Skippi is planning to establish a larger facility in Hyderabad.
Earlier, it secured $133,894.80 from Shark Tank India in exchange for a 15 percent equity stake. Currently, the company is actively seeking additional funding to support similar expansion initiatives.
At present, Skippi distributes its products through online marketplaces and rapid commerce channels, which include Amazon, Flipkart, Swiggy Instamart, Zepto, and Blinkit. The brand has also partnered with the fintech firm Cred to extend its outreach to more consumers.
Furthermore, the brand has established its footprint in international markets, including the UAE, Kuwait, Qatar, New Zealand, Canada, Fiji Islands, and others. Recognizing a substantial opportunity for exports to various global markets, the brand intends to proceed with a measured approach for international expansion, prioritizing scaling efforts in the domestic market initially.
