From multiple business failures to becoming India’s sixth-largest packaged snack maker
1) Prataap Snacks known for its brand Yellow Diamond was founded by Indore-based entrepreneur Amit Kumat.
2) Amit was from a middle-class family and his father owned a wholesale cloth shop.
3) Initially, Amit bought a sick chip factory in Indore and started making chips under the Hello Chip brand which failed.
4) The cheese ball business was his second shot at making snacks, after which he dabbled in a few other businesses like SAP training institute.
5) By 1999, all his business ventures had failed, and he was saddled with liabilities.
6) He not only suffered a financial setback, but he also lost respect among his peers in the Indore market.
7) The idea of going back to the snacks business came when Amit Kumat started Prakash Snacks with his brother, Apoorva Kumat, and his brother’s classmate, Arvind Mehta.
8) Initially, all three of them focused on selling cheese balls.
9) They began by persuading their family to contribute Rs 15 lakh, promising to reimburse the money if the business failed.
10) Selling cheeseballs made them a tidy profit of Rs 22 lakh in the first year, which more than quadrupled to Rs 1 crore the following year.
Today, Despite having only 4% of the Indian snacks market, PRATAAP Snacking is one of the largest brands in the Rs 20,000-crore snacks business.
Several global firms have made bids to buy the company's facilities, but the company has declined.