Tripole is a homegrown Indian startup that has made its mark in the outdoor gear and equipment industry. Founded in 2017 by Rohan Khanduja, the company began operations from a small room and has since expanded into two full-fledged factories.

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The brand manufactures a wide range of products in-house, including rucksacks, backpacks, sleeping bags, travel accessories, and apparel. Its commitment to affordability and quality gives it an edge over legacy brands like Decathlon, which dominate the ₹8,500 crore Indian outdoor gear market.

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Tripole has cultivated a loyal community on Instagram, with 8.3K followers. The brand primarily shares user-generated content, showcasing real customers using their products during outdoor adventures. This strategy not only builds trust but also fosters a sense of community among adventure enthusiasts.

The Walker Pro Rucksack is Tripole’s flagship product and a favourite among outdoor enthusiasts. It features:

• Extra Access Points: Easy access to essential items on the go.
• Accessory Compatibility: Space for hydration bladders and other add-ons.
• Back Support System: Built with an internal metal frame for comfort during long treks.

This product, like all Tripole offerings, comes with a 5-year warranty, ensuring durability and customer satisfaction.

With over 250 SKUs, Tripole caters to a wide array of needs. Its product lineup includes:

• Rucksacks (70% of sales)
• Backpacks (10%)
• Waist packs (6%)
• Apparel (6%)
• Miscellaneous travel accessories (8%)

Unlike many competitors, Tripole manufactures everything in-house. This approach ensures quality control and allows the brand to maintain competitive pricing.

By keeping costs low, Tripole delivers high-quality products at prices significantly lower than industry giants like Decathlon.

Tripole’s financial journey reflects its steady rise:

• FY22-23 Revenue: ₹11 Crores
• FY23-24 Revenue: ₹14.2 Crores
• Projected FY24-25 Revenue: ₹20 Crores

With average monthly sales of ₹1.6 Crores over the past three months, the company is growing at a rapid pace.

• Domestic Market: 80% of sales (68% through marketplaces like Amazon and Flipkart, 12% offline).
• International Market: 20% of sales, primarily through Amazon.

• Average Order Value: ₹1,525
• Cost of Goods Sold (COGS): 53%
• Marketplace Commissions: 29%
• Advertisements: 9%
• Overheads: 3%
• EBITDA: 6%

Tripole’s pitch on Shark Tank India highlighted the brand’s achievements and growth potential. Rohan Khanduja sought an investment of ₹1 Crore for 1.5% equity, valuing the company at ₹65.22 Crores. Here’s how the sharks responded:

• Namita Thapar: Offered two options—₹50 Lakhs for 1% equity plus debt at 9%, or ₹1 Crore for 1.5% equity with a 1% royalty until the investment was recouped.
• Aman Gupta: Opted out, citing the company’s high valuation.
• Anupam Mittal: Declined to invest, citing a lack of differentiation in the product line.

• Ritesh Agarwal: Initially offered ₹60 Lakhs for 1% equity and ₹40 Lakhs as debt at 9% for five years.
• Kunal Bahl: Liked the entrepreneur’s vision and offered ₹3 Crores for 7.5% equity, valuing the company at ₹40 Crores.

Rohan countered Kunal’s offer at ₹3 Crores for 4% equity, valuing the company at ₹75 Crores. However, Kunal held firm at his initial valuation.

After multiple counters and adjustments, Ritesh made a revised offer:

• ₹75 Lakhs for 1.15% equity.
• ₹40 Lakhs as debt at a 9% interest rate.

Namita matched this offer, but Rohan ultimately accepted Ritesh’s proposal. The final valuation stood at ₹65.22 Crores.

Tripole’s pricing strategy positions it as a cost-effective alternative to market leaders. This approach appeals to price-sensitive Indian consumers looking for quality outdoor gear.

By keeping production in-house, Tripole reduces its reliance on third parties, ensuring a smaller environmental footprint.

With plans to expand offline distribution and enhance international sales, Tripole is well-poised to capture a larger share of the ₹8,500 crore Indian outdoor gear market.

The Shark Tank India deal provides Tripole with the financial backing to scale operations and strengthen its market position. Rohan plans to use the funding to:

• Expand the product line.
• Enhance marketing efforts.
• Boost offline and international sales channels.

With a projected revenue of ₹20 Crores for FY24-25, Tripole is on track to become a significant player in the outdoor gear market.

Rohan’s appearance on Shark Tank India offers valuable lessons for aspiring entrepreneurs:

1. Know Your Numbers: Rohan’s detailed knowledge of unit economics impressed the sharks and strengthened his pitch.
2. Stay Flexible: His willingness to negotiate and adapt to feedback ensured a successful deal.
3. Confidence Matters: Despite differing opinions from the sharks, Rohan’s confidence in his brand left a lasting impression

Tripole’s journey from a small room to a ₹65 Crore valuation exemplifies the power of innovation, affordability, and resilience. By focusing on quality, sustainability, and customer satisfaction, the brand has carved a niche in the competitive outdoor gear market.

Rohan’s success on Shark Tank India highlights not only the potential of Indian startups but also the opportunities available in untapped markets. For adventure enthusiasts and savvy investors alike, Tripole is a name to watch.