Ankit Chhaparia

Ankit Chhaparia

COFTEA

While India is one of the largest consumers of tea, accounting for about 30 percent of the world tea output, coffee has an equally enthusiastic fan base in the country. For Ankit Chhaparia, founder of COFTEA, this love for beverages inspired him to start his venture in 2014. He initially started to sell coffee and tea vending machines but later explored and found success in selling premixes through both offline and online channels. An CA from Kolkata, Ankit always dreamt of becoming an entrepreneur. After working for a few years in cities like Bengaluru, he came back to Kolkata in 2013 to start a business. He would outsource the vending machines from factories situated in the northern part of the country and would sell or rent them out to corporates such as Senco Gold, IRCTC, etc. The cost of these machines ranged from Rs 17,000 to Rs 1.4 lakh.So far, COFTEA has installed 100 coffee/tea vending machines across the country. As the vending machines business began to pick steam, Ankit saw another gap in the market. “We got a lot of feedback that the premixes that were there in the market, especially of Nescafe, were not receiving a good response. They were too sugary and had quality problems as well,” the founder says. This feedback became a turning point for Ankit and he decided to explore the tea and coffee premixes business. He invested Rs 25 lakh to set up a factory and decided to start manufacturing in the year 2015. “Initial days were very challenging. I would question if I was investing the money in the right manner or not. But our customers really helped us in perfecting our product,” says Ankit. He says that his customers & distributors would give feedback such as reducing the sugar content, and increasing the tea/coffee content. All these factors, he says, helped in making a product which tastes good and is healthy as well. In FY20, the brand clocked Rs 82 lakh and in FY21, the revenue touched more than Rs 1 crore, claims Ankit.

State : West Bengal

Gender : Male

Sector : Food Processing

Video Link

https://yourstory.com/smbstory/kolkata-fmcg-tea-coffee-vending-machines-covid-19-coftea-ankit-chhaparia/amp

Refered by

Yourstory