In this insightful interview with Mayank B Nagori, co-founder of Gudgum, India’s pioneering plastic-free chewing gum brand, the conversation delves into the inspiration behind Gudgum’s creation and the challenges faced in introducing a sustainable alternative to the confectionery market. Mayank highlights the pivotal role of consumer education in promoting sustainable products and discusses Gudgum’s commitment to using natural ingredients while delivering a satisfying chewing experience. The impact of Gudgum’s appearance on Shark Tank is explored, along with insights into pricing strategies, future expansion plans, and the broader mission of fostering socially responsible entrepreneurship. Mayank’s advice to aspiring entrepreneurs underscores the importance of prioritizing sustainability and consumer well-being in business endeavours, aiming for a positive societal impact.
Q&A Session:
Q: Can you start by introducing yourself? Please briefly introduce Gudgum and its role as India’s first plastic-free, all-natural chewing gum brand.
A: Hi, my name is Mayank, and together with my younger brother Bhuvan, we co-founded Gudgum. Our upbringing instilled in us a commitment to sustainability and healthy living. Gudgum emerged from our desire to offer an alternative to traditional chewing gum by creating a plastic-free, all-natural product.
Q: What motivated the founder to focus on developing a plastic-free alternative chewing gum market?
A: The realization that conventional chewing gums are made of plastic sparked our journey. Witnessing the detrimental environmental impact of plastic consumption led us to develop a sustainable alternative. Our mission is to provide a product and educate consumers about the importance of sustainable choices.
Q: How do you ensure that your chewing gum remains entirely plastic-free while delivering a satisfying experience?
A: Our fundamental innovation lies in using a particular tree sap instead of a synthetic gum base. By sourcing natural ingredients and adhering to rigorous quality standards, we ensure that Gudgum remains free from synthetic materials while maintaining a delightful chewing experience.
Q: How did Shark Tank affect Gudgum in terms of traffic and sales?
A: Shark Tank provided us with invaluable visibility and credibility. Despite not securing a deal, the exposure garnered through the show significantly boosted our brand recognition and led to a surge in inquiries and sales domestically and internationally.
Q: It has been proven that your current pricing is a little on the premium side. How do you think that will change in the future?
A: Our current pricing reflects the high-quality natural ingredients and the costs of small-scale production. While we aim to make our products more accessible in the future, our priority remains catering to consumers who prioritize sustainability and premium quality.
Q: Are you funded right now? Or are you looking to raise more funds in the future?
A: We have secured funding from our appearance on Shark Tank. While this capital suffices for our immediate needs, we remain open to strategic partnerships or funding opportunities as we continue to grow and expand our operations.
Q: Do you have any plans for expansion in the future? Or introducing a new product?
A: Our immediate focus is solidifying Gudgum’s position as India’s leading chewing gum brand. However, we plan to diversify our product range by introducing functional chewing gums and exploring opportunities in other segments of the confectionery market.
Q: Do you have any competitors right now or see them coming?
A: We don’t face direct competition in the plastic-free chewing gum segment. However, we welcome competition as it validates the demand for sustainable alternatives and encourages innovation in the industry.
Q: Do you have any goals and aspirations for your future, and would you like to give feedback to new entrepreneurs who are trying something new?
A: Our vision extends beyond profitability to making a tangible impact on environmental sustainability and public health. To aspiring entrepreneurs, I would like you to prioritize social responsibility and consumer well-being in your ventures. We can collectively drive positive change globally by aligning business goals with societal benefits.
