Journey of Jaspreet Kaur Walia and Ravinder Singh: Founder of Skate Supply India
Skate Supply India: Pioneers of Skateboarding in India
Jaspreet Kaur Walia and Ravinder Singh, the co-founders of
Skate Supply India, share a deep passion for skateboarding. With over 20 years
of experience as skateboard manufacturers, they wanted to bring high-quality
skateboards to Indian skaters. Their company, Skate Supply India, is more than
just a business—it’s a mission to build a thriving skateboarding community
across the country.
Bringing the Best to India
Skate Supply India offers a wide variety of skateboards,
including longboards, cruisers, and surf skates, catering to skaters of all
skill levels. They hold exclusive distribution rights for 20 international
brands, making them a dominant player in India's growing skateboarding market.
Their goal is to make high-quality skateboards accessible to everyone while
nurturing a culture of skating in the country.
Taking the Big Leap on Shark Tank India
Jaspreet and Ravinder saw an opportunity to take their
business to the next level by appearing on Shark Tank India Season 4. They
pitched their brand with great enthusiasm, seeking an investment of ₹50 lakh in
exchange for 2% equity, valuing their company at ₹25 crore. Their passion for
skateboarding and community-building was evident as they presented their vision
to the sharks.
A Warm Reception, but Tough Questions
The sharks admired the dedication and vision of the
founders. However, they had several concerns about the business. They
questioned whether the Indian market was large enough to support a
skateboarding business at this scale. Unlike cricket or football, skateboarding
is still a niche sport in India, and the sharks wanted to know if the demand
was sufficient to justify the company’s valuation.
Facing Competition from Global Giants
One of the biggest concerns raised was competition. Global
sports retailers dominate the Indian market, selling various sports equipment,
including skateboards. The sharks wondered if Skate Supply India could compete
with these well-established brands. Could a niche skateboarding company survive
against major sporting goods giants?
The Challenge of Sourcing Products
Another major challenge was that Skate Supply India imports
all its products from international brands. The sharks pointed out that this
reliance on imports could lead to high costs, making it difficult to maintain
competitive pricing. As more companies enter the skateboarding space in India,
controlling costs and ensuring profitability would be crucial for survival.
Journey of Jaspreet Kaur Walia and Ravinder Singh: Founder of Skate Supply India#startup#age#net worth#invesor#shark tank#entrepreneur#Skate Supply
The Sharks’ Proposal
Despite their concerns, some sharks, including Aman Gupta
and Anupam Mittal, engaged in negotiations. They appreciated the founders’
passion but felt the business needed a stronger plan for scalability. To reduce
risk, they proposed a deal with a royalty component, meaning the founders would
have to pay a percentage of their revenue to the investors.
A Bold Decision to Walk Away
Jaspreet and Ravinder were not comfortable with the idea of
a royalty model. They believed that paying a cut of every sale would reduce
their profit margins and make growth difficult. Instead of compromising their
vision, they chose to walk away from the deal. This decision showed their
confidence in their business and their belief that they could scale without
external investment.
Growth Despite Challenges
Even though they didn’t secure funding on Shark Tank India,
Skate Supply India continues to grow. Their annual sales have increased
significantly, from ₹57 lakh in FY23-24 to a projected ₹85 lakh in FY24-25.
This growth proves that there is a rising demand for skateboarding in India,
even if it is still an emerging sport.
Building a Skateboarding Movement
For Jaspreet and Ravinder, Skate Supply India is more than
just a business—it’s about building a skateboarding culture in India. They
actively engage with the skating community, organizing events and supporting
local skaters. Their dream is to make skateboarding as popular in India as it
is in other parts of the world.
The Road Ahead
Skate Supply India has the potential to become a leading
name in the Indian skateboarding industry. While challenges like competition
and import dependence exist, their passion and experience set them apart. If
they can explore local manufacturing and expand their reach, they can scale the
business without external funding.
Turning Setbacks into Strengths
Not securing a deal on Shark Tank India was not a failure—it
was a learning experience. The feedback from the sharks gave Jaspreet and
Ravinder valuable insights into the business world. Their journey continues
with greater determination, and they are committed to growing their brand
despite the obstacles.
A Promising Future for Skateboarding in India
As action sports gain popularity in India, Skate Supply
India is positioned to lead the movement. With a strong community-driven
approach and a commitment to quality, they have the potential to change the
landscape of Indian skateboarding. Whether or not they have the sharks'
investment, their vision remains strong, and their journey is just beginning.
Timeline for story
2004 – Jaspreet Kaur Walia and Ravinder Singh start their
journey in skateboard manufacturing.
2020 – They launch Skate Supply India to bring high-quality
skateboards to India.
2023 – Skate Supply India secures exclusive distribution
rights for 20 international brands.
2024 – They pitch on Shark Tank India Season 4, seeking ₹50
lakh for 2% equity.
2024 – Sharks raise concerns about market size, competition,
and import dependency.
2024 – Jaspreet and Ravinder reject a royalty-based deal and
walk away.
2024 – Despite no investment, annual sales grow from ₹57
lakh to ₹85 lakh (projected).
Future – Plans to expand skateboarding culture and explore
local manufacturing.
