Cannes Film Producer Pitches Family Mithai Brand on Shark Tank India
On the latest episode of Shark Tank India Season 5, two brothers from Mumbai faced the Sharks with their family mithai business. Tanay and Harshit Agarwal presented Pistabarfi, a traditional sweet brand they revived after it shut down during the lockdown. They sought an investment of Rs 30 lakhs for a 5 percent equity stake, valuing their company at Rs 6 crores.
Modern Packaging Meets Traditional Sweets
The Agarwal brothers aimed to revolutionize the mithai industry with modern, design-forward packaging. They shared their journey of rebranding the family business, which gained attention after Vogue covered their Instagram posts in September 2021. The brand also collaborated with major names like Puma and Nykaa, showcasing their ambition to give Indian sweets a global makeover.
Harshit Agarwal, who works as a full-time film producer, revealed his role as an executive producer on All We Imagine as Light, the film that won at Cannes last year. This background added a unique angle to their pitch, but it also raised questions about their commitment.
Sharks Impressed by Product, Concerned by Execution
The Sharks, including Anupam Mittal, Namita Thapar, Vineeta Singh, Kunal Bahl, and Varun Alagh, praised the quality and packaging of Pistabarfi. Anupam Mittal even called it a "goldmine" and shared a personal connection, mentioning how he sent the sweets to celebrate his daughter's birth.
However, the pitch quickly unraveled when Tanay fumbled while sharing sales figures. Harshit had to prompt him, which left the Sharks underwhelmed. Kunal Bahl pointed out their lack of passion, stating that momentum in business requires founder intensity.
Key Deal-Breakers: Availability and Commitment
Varun Alagh highlighted a major issue: the brand's absence on quick commerce platforms and food delivery apps. He emphasized that consumers frequently use these channels for daily food purchases, making Pistabarfi's limited availability a significant barrier to growth.
When Varun asked Harshit if he would quit film production to focus full-time on the business, Harshit refused. This decision led Varun to opt out immediately, as he believed Harshit was the heart of the business and needed to dedicate himself entirely.
Sharks Exit One by One
Namita Thapar opted out next, citing concerns over profit margins and revenue figures in lakhs. Vineeta Singh also declined, referencing a past investment in a similar brand where the founders changed their minds due to low earnings. She advised the brothers to figure out their growth strategy before seeking capital.
Kunal Bahl expressed frustration, saying he felt worked up seeing the founders not realize the brand's potential. He stressed the importance of feeling the pain to build something great.
Anupam Mittal shared his disappointment, noting that his family also had a sweets business, and he saw this as a chance to reconnect. He lamented, "If you cannot see this goldmine in front of you, what will you do?" Despite his harsh words, he wished them luck and hoped they would prove the Sharks wrong.
Season 5 Investment Snapshot
So far in Shark Tank India Season 5, the Sharks have invested a total of Rs 18 crores across 9 successful deals out of 17 pitches. Anupam Mittal leads with investments in five ventures totaling Rs 4.25 crores, followed by Aman Gupta with Rs 4 crores in three ventures. Namita Thapar has invested Rs 3 crores in four pitchers, while Kunal Bahl has put in Rs 2.88 crores.
The show airs on Sony TV and streams on SonyLiv every Monday to Friday at 10 pm, continuing to spotlight Indian entrepreneurs and their ventures.
