Biography of Vikas Suri: Founder & CEO of Popcorn & Company- Entrepreneur
Biography of Vikas Suri:
Birth of Popcorn & Company
In 2019, Vikas Suri launched Popcorn & Company, aiming
to offer a premium popcorn experience for movie lovers not just in theaters,
but also at home. Having spent several years working in the food and beverage
industry, Vikas combined his expertise in kitchen equipment and popcorn supply
to create a brand focused on providing a variety of gourmet popcorn flavors.
This was a natural progression from his earlier venture, Kitchenrama, which
supplied equipment and ingredients to cinemas across India. His goal was
simple: bring the cinema popcorn experience to consumers at home, in a way that
was never done before in India.
A Legacy of Popcorn Expertise
Vikas’ journey into the popcorn business began long before
he founded Popcorn & Company. Having worked in the U.S. for Gold Medal, a
company known for supplying popcorn kernels, seasonings, and popcorn machines,
he gained extensive knowledge in the industry. In 1996, he returned to India
and started Kitchenrama, a company specializing in supplying food service
equipment to hotels, restaurants, and food courts. His extensive network and
expertise in the popcorn industry positioned him to revolutionize the way
popcorn was enjoyed in India.
Popcorn Redefined for the Modern Era
Vikas saw a gap in the market. While people loved popcorn at
the movies, there was no easy way to enjoy fresh, high-quality popcorn at home.
Thus, Popcorn & Company was born. The brand offers gourmet popcorn in both
ready-to-eat and ready-to-cook formats. Their range includes flavors like
butter salted, caramel, cheesy sriracha, and even more exotic options,
providing something for every taste. What sets them apart is the use of premium
kernels and seasonings, aiming to deliver the same quality as what you’d get at
a movie theater, but in the comfort of your home.
The Shark Tank Pitch
Vikas Suri’s appearance on Shark Tank India was a defining
moment for Popcorn & Company. When he pitched his business, he asked for
₹75 lakh for a 7.5% stake in his company, valuing it at ₹10 crore. His pitch
caught the attention of the Sharks, particularly Namita Thapar, who resonated
with the idea of enjoying the movie-theater popcorn experience at home. The
Sharks were eager to try the product, and Vikas treated them to a variety of
popcorn samples, which were met with high praise.
Unexpected Reactions and High Stakes
During his pitch, there was a moment of tension when Vikas
managed to silence one of the Sharks, Peyush Bansal, with his confident
response. This moment left Anupam Mittal visibly frustrated, but it also
highlighted Vikas’ deep understanding of his product and the business. His
ability to engage with the Sharks, especially in such a high-pressure
situation, was a testament to his preparation and knowledge of his brand.
Building Trust with Investors
Namita Thapar was impressed not only by the product but also
by the sincerity and confidence with which Vikas spoke about his business. She
shared how her own family loved the idea of having movie-theater-like popcorn
at home, a sentiment echoed by many consumers. The Sharks were impressed by how
Popcorn & Company had identified a strong market need and developed a
product that could fill that gap. This strong connection with the Sharks made
the pitch successful.
The Deal and Its Impact
After a brief but intense negotiation, Vikas secured a deal
with Namita Thapar, who offered ₹75 lakh for a 15% equity stake in the company,
valuing it at ₹5 crore. The deal also included a 3% royalty on sales until ₹75
lakh was recouped. This partnership with Namita not only provided Popcorn &
Company with financial backing but also opened doors for further growth and
expansion, especially in terms of brand visibility and market reach.
Biography of Vikas Suri: Founder & CEO of Popcorn & Company- Entrepreneur /age/net worth/investor/startup/premium popcorn for home use/Vikas Suri story
A Surge in Popularity
Following the Shark Tank episode, Popcorn & Company
experienced a tremendous increase in website traffic and sales. The exposure on
national television had a profound impact on their brand, bringing in new
customers and creating an opportunity for rapid growth. The immediate demand
was overwhelming, and Vikas had to scale up operations quickly to keep up with
the orders. This sudden surge in popularity was both exciting and challenging,
but it helped cement Popcorn & Company’s position as a leading brand in the
gourmet popcorn market.
Learning from the Sharks
Vikas learned a great deal from his time on Shark Tank. One
key takeaway was the importance of focusing on a single product that could
scale effectively. The Sharks emphasized the need to understand the numbers
behind your business thoroughly, as this would enable entrepreneurs to navigate
investor negotiations with confidence. Vikas also realized that having a clear,
concise pitch was essential to gaining investors' attention and trust.
The Right Product-Market Fit
In an industry like gourmet popcorn, where taste and quality
are paramount, Vikas knew that achieving the right product-market fit was
crucial. The unique flavors offered by Popcorn & Company, like lychee
popcorn, gained immediate attention, particularly for their bold and
distinctive tastes. Vikas understood that if his product could win over
consumers with its quality and flavor, success was inevitable. This focus on
quality and customer satisfaction helped shape the direction of the brand.
The Importance of Branding and Marketing
Vikas’ experience in marketing and branding played a pivotal
role in shaping the future of Popcorn & Company. He knew that in a
competitive market, branding was key to standing out. By positioning Popcorn
& Company as a premium snack brand, he managed to create a loyal customer
base that appreciated the quality and flavor of his products. His ability to
build strong relationships with both suppliers and customers enabled him to
expand his business further.
Adapting to Market Trends
As the OTT platform revolution took over, Vikas recognized
the changing ways people consumed movies and entertainment. He understood that
the demand for ready-to-eat snacks would only grow, especially as people
increasingly watched movies at home. Popcorn & Company capitalized on this
shift by creating products that catered to the new way of life, including
offering popcorn that could easily be prepared in the microwave or pressure
cooker at home.
The Power of the Right Partnership
Partnering with Namita Thapar proved to be a game-changer
for Vikas and Popcorn & Company. Namita’s industry knowledge, coupled with
her experience in scaling businesses, provided invaluable guidance to the
brand. Her mentorship and the financial backing she brought to the table were
critical in helping Popcorn & Company grow into a recognized name in the
gourmet snack market. This partnership was a perfect example of how the right
investor can propel a brand to new heights.
Future Plans and Continued Growth
Looking ahead, Vikas has big plans for Popcorn &
Company. The brand intends to focus on expanding its core products, including
ready-to-eat popcorn and movie night kits. Vikas believes in the principle of
"less is more" and plans to scale these core segments to their
fullest potential. The goal is not just to reach a larger audience but to do so
with products that continue to prioritize quality, flavor, and customer
satisfaction.
Lessons for Aspiring Entrepreneurs
For aspiring entrepreneurs, Vikas offers invaluable advice:
focus on understanding your product, its market, and its numbers. He stresses
the importance of preparing thoroughly for opportunities like Shark Tank, where
investors are looking for clear, well-thought-out business plans. His own
experience shows that even a small but high-quality product can make a big
impact if you understand the market and are ready to adapt. This lesson in
perseverance and preparation has become a cornerstone of Vikas’ approach to
business.
A timeline for Vikas Suri’s journey based on your provided
story:
1996 – Vikas gains experience working with Gold Medal in the
U.S. in the popcorn industry.
1996 – Returns to India and starts Kitchenrama, specializing
in food service equipment.
2019 – Launches Popcorn & Company, offering premium
popcorn for home use.
2021 – Appears on Shark Tank India, pitching Popcorn &
Company.
2021 – Secures a deal with Namita Thapar for ₹75 lakh for a
15% stake.
Post-Shark Tank (2021) – Experiences a surge in sales and
website traffic following the appearance.
2021-2022 – Focuses on scaling operations and expanding
market reach after the Shark Tank exposure.
2022 and beyond – Continues to adapt to market trends,
catering to home movie-watching culture and OTT platform growth.
2024 – Plans to expand core products and focus on
maintaining quality and customer satisfaction.
