Biography of Mayank B Nagori: Founder & CEO of Gud Gum- Entrepreneur
Biography of Mayank B Nagori:
Beginning of Gud Gum
Mayank B Nagori and his brother Bhuvan Nagori, both from
Bengaluru, were the minds behind Gud Gum, a revolutionary chewing gum brand
that focuses on being eco-friendly. Mayank, who had a background in chemical
engineering, pursued a master's degree in Food Production Management from the
University of Nottingham. His educational journey provided him with expertise
in food production, which later helped him in product development. Bhuvan, on
the other hand, graduated with a Bachelor of Business Administration from
Christ University and had experience in retail sales management. Together, they
decided to create a unique product that would cater to the growing demand for
sustainability.
Identifying the Problem: Traditional Gum's Environmental
Impact
The brothers’ idea for Gud Gum was born from a simple
realization: conventional chewing gums are made with plastic. These
plastic-based gums are non-recyclable, and once discarded, they pose a serious
environmental risk. Mayank, with his deep understanding of food products and
sustainability, noticed that the chewing gum industry was not addressing this
issue, so he saw an opportunity to create a plastic-free, eco-friendly
alternative. This motivated the brothers to create a chewing gum that would not
only be natural and plastic-free but also healthy for consumers.
Launching Gud Gum: A Unique and Sustainable Alternative
In 2022, Gud Gum was officially launched as India’s first
100% plastic-free chewing gum. The gum is made with all-natural ingredients,
including natural sweeteners, colors, and flavors. The product not only
eliminates plastic from its composition but also ensures that it is safe for
consumers. Gud Gum quickly gained attention in the market for its innovation
and eco-conscious approach, making it a standout product in the food tech
space. It was a game-changing concept that the market had been waiting for.
The Shark Tank India Pitch
The big break for Gud Gum came when the brothers appeared on
the popular show Shark Tank India. Their pitch was based on the environmental
benefits of their plastic-free gum. Despite some concerns from investors about
the scalability and market potential, the Nagori brothers managed to impress
the sharks. They secured a deal of ₹80 lakh for 10% equity in the company,
along with a 4% royalty until the investment was recouped. The deal was a
turning point, bringing the brand into the spotlight.
A Surge in Popularity: Post-Shark Tank Growth
The brothers' successful appearance on Shark Tank India
resulted in a significant increase in sales. Following the show, Gud Gum
experienced a surge in orders, with sales growing by 25 to 30 times. The
exposure on the show boosted their brand’s visibility, attracting more
consumers who were interested in eco-friendly and health-conscious
alternatives. The deal and the brand’s message resonated with a wide audience,
leading to rapid growth and recognition in the market.
Sales Growth and Future Projections
Gud Gum’s sales performance showed impressive growth in its
first two years of operation. In the fiscal year 2022-2023, the company
achieved ₹29.7 lakh in sales, which doubled to ₹53 lakh in 2023-2024. With
strong projections, Gud Gum aims to reach ₹1 crore in sales by the end of the
fiscal year. The brand’s focus on both online and offline sales channels has
played a vital role in its growth, making it accessible to a broader audience.
Biography of Mayank B Nagori: Founder & CEO of Gud Gum- Entrepreneur /traditional chewing gum/age/net worth/investor/startup/Gud Gum story/Mayank stor
Ownership and Equity Breakdown
Gud Gum’s equity structure is divided between the founders
and Mayank’s wife. Bhuvan Nagori holds 50% of the company, Mayank B Nagori owns
30%, and Mayank’s wife owns 20%. This division of ownership allows both
brothers to retain significant control over the company while involving family
in the venture’s success. The equity structure has been designed to ensure the
company’s future growth while keeping the leadership in the hands of its core
team.
The Marketing Strategy: Education and Engagement
Gud Gum’s marketing strategy revolves around educating
consumers about the environmental impact of regular chewing gum and promoting
the benefits of their sustainable alternative. Through digital marketing, the
brand emphasizes its eco-friendly message by sharing visually appealing content
about the natural ingredients and sustainable practices behind Gud Gum.
In-store demonstrations are also planned to allow potential customers to
experience the gum firsthand, further driving consumer engagement and awareness.
Targeting the Right Audience
Gud Gum’s ideal target audience consists of individuals who
are environmentally conscious and health-focused. These consumers actively seek
out sustainable and natural products, making them the perfect demographic for
Gud Gum. Additionally, the brand targets those who prefer organic and
chemical-free options in their daily lives, especially consumers who shop at
organic and health food stores. By catering to this audience, Gud Gum ensures
that it aligns with the values of its target market.
Expanding Product Lines and Flavors
In order to cater to a wider audience and increase brand
recognition, Gud Gum plans to expand its product range. New flavors and
products will be introduced to keep the brand fresh and exciting for existing
customers while attracting new ones. By diversifying its offerings, Gud Gum
hopes to strengthen its market presence and continue to grow in a competitive
landscape. Innovation will be key to sustaining interest in the brand and
expanding its reach.
Gud Gum’s Contribution to Sustainability
Gud Gum’s commitment to sustainability goes beyond just its
product ingredients. The brand’s core mission is to reduce food and plastic
waste, with the long-term goal of ensuring that no food goes to waste and no
one goes hungry. This mission is what drives the Nagori brothers to constantly
innovate and find ways to make food processing more efficient, while also
promoting recycling and reuse. Their philosophy reflects a deep commitment to
creating a better future through sustainable practices.
Innovative Approaches to Waste Reduction
A major aspect of Gud Gum’s operations is its dedication to
reducing food waste. The company works with caterers and restaurants to
repurpose food waste, creating a sustainable system that minimizes the impact
on the environment. Through their creative thinking and problem-solving skills,
the brothers are working towards a future where food waste is minimized, and
resources are used efficiently. This approach reflects their broader vision for
a world with zero waste.
Securing the Future: Plans for Expansion and Growth
Looking forward, Gud Gum aims to further expand its
footprint, both in India and internationally. The brand is working on
increasing its production capacity and scaling its operations to meet the
growing demand. With a strong foundation built on eco-friendly practices and a
consumer-centric approach, Gud Gum is poised to continue its upward trajectory.
The brothers are committed to ensuring that their innovative product reaches
more people and contributes to a more sustainable world.
A Vision for a Better World: The Nagori Brothers’ Mission
Mayank and Bhuvan Nagori’s vision for Gud Gum is about more
than just selling a product. They aspire to create a world where food waste is
reduced, and no one has to go to bed hungry. Their mission is to inspire change
through their work in food tech and sustainability. With Gud Gum, they aim to
lead by example, proving that small changes in the way we think about everyday
products can have a huge impact on the environment. Their dedication to
innovation and sustainability continues to drive the brand's success.
A timeline for Gud Gum:
Before 2022 – Mayank and Bhuvan Nagori conceptualize Gud Gum
to address the environmental impact of traditional chewing gum.
2022 – Gud Gum is launched as India’s first 100%
plastic-free chewing gum.
Shark Tank India (2022) – The brothers pitch Gud Gum and
secure ₹80 lakh for 10% equity.
Post-Shark Tank Growth (2022-2023) – Gud Gum experiences a
25-30x surge in sales.
2022-2023 – Achieved ₹29.7 lakh in sales.
2023-2024 – Sales doubled to ₹53 lakh.
2024 – Gud Gum aims to reach ₹1 crore in sales by fiscal
year-end.
Future Plans – Expand product line, increase production, and
scale operations both in India and internationally.
