In the latest episode of ‘Shark Tank India’ season 3, the indigenous footwear brand ‘Bacca Bucci’ failed to secure investments from the panel of investors.
Natwar Agrawal and Anuj Nevatia, the co-founders of Bacca Bucci, presented their pitch seeking Rs 2.5 crores for one percent equity in their brand. Bacca Bucci positions itself as a fast-fashion footwear brand catering to the Gen Z and youth demographic, offering a wide range of products including trekking boots, sports shoes, streetwear, and accessories.
Founded in 2014, Bacca Bucci has delivered over 30 lakh products to date. During the pitch, Natwar Agrawal shared insights into their background, both coming from chartered accountancy backgrounds and transitioning from corporate jobs to launching Bacca Bucci as a side hustle due to the disparity in online and offline shoe prices they observed in 2014.
Despite their efforts to expand their product range by introducing T-shirts in October, the investors expressed mixed reactions. While Vineeta Singh appreciated the product quality, Deepinder Goyal criticized the lack of consistency in branding and design language, rating it low in terms of overall appeal.
Anupam Mittal acknowledged the aspirational value and affordability of Bacca Bucci’s products but raised concerns about quality and suggested exploring offline retail stores for better margins and customer feedback. Namita Thapar emphasized the importance of a unique selling proposition (USP) and brand culture, expressing reservations due to a perceived lack of clear vision from the founders.
Ultimately, the investors decided not to invest in Bacca Bucci, citing concerns over branding, quality consistency, and strategic vision. While the brand showcases potential, it fell short of meeting the expectations of the panel.
‘Shark Tank India 3’ airs on SonyLIV, providing a platform for aspiring entrepreneurs to pitch their business ideas and seek investment opportunities.
