Indore-headquartered Prataap Snacks was started with Rs. 15 lakhs seed capital in 2008-09 and has now touched 1,000 crores in revenue (2017-18).
It has in the past eight years transformed itself from a single-product company to one with multiple branded savouries in its portfolio.
“We are not totally dependent on big and elaborate consumer research like the MNCs, because we believe it slows down product innovation. I make regular visits to markets get ideas and get those weighted through small researches if needed,” says Amit Kumat, CEO of Prataap Snacks (source).
And importantly, Prataap Snacks’ pricing is extremely competitive – 99% of its products under Yellow Diamond brand are in the Rs 5-10 price range bracket!
And you thought making money in India is tough?