A Masterclass on Pivoting & Scaling in Indian FMCG | Rohan Mirchandani (Epigamia)

"When you say to someone, my business plan is to create a brand, it's very hard for anyone to understand or digest... the harder it is for someone to digest, the more excited one should be about doing it." This powerful insight from Rohan Mirchandani encapsulates the conviction needed to build something truly disruptive, especially when introducing a new category to a market. It speaks to the entrepreneurial spirit of seeing opportunity where others see ambiguity.

Rohan Mirchandani (1982-2024) was the Co-founder of Drums Food International, the parent company of Epigamia, India's first Greek yogurt brand. An MBA from The Wharton School, he returned to India from the US to build a pioneering FMCG company. Under his leadership, Epigamia raised approximately $81.4 million, achieved a valuation of around ₹1,250 crore ($150 million), and expanded its reach to over 25,000 retail outlets, targeting revenues of ₹250 crore.

Key Insights from the Conversation:

• The Eureka Moment: Rohan's realization of the untapped potential for innovation in the Indian FMCG sector came from a business school lecture, which became the seed for Epigamia.
• Pivoting with Purpose: The strategic shift from their initial ice cream brand, Hokey Pokey, to Epigamia Greek yogurt was driven by observing the limitations of seasonality in ice cream sales and a rising health consciousness among Indian consumers.
• On-the-Ground Insights: Rohan emphasized the invaluable lessons learned by directly engaging with customers and understanding their preferences, even by working at their own ice cream parlor in the early days.
• Building a Cold Chain Moat: For a perishable product like Greek yogurt, Epigamia had to build its own robust cold chain and distribution network, a significant operational challenge that became a competitive advantage.
• Strategic Partnerships for Growth: The collaboration with Danone provided not just capital, but crucial operational knowledge and access to global best practices, significantly accelerating Epigamia's learning curve.
• Navigating the Indian Market: Rohan believed that succeeding in India required immense adaptability and having multiple contingency plans (Plan C, D, and E) due to the market's unique complexities.

Chapters:

[0:00:00] - Podcast Introduction

[0:01:40] - Rohan's American Upbringing & Father's Entrepreneurial Influence

[0:06:08] - Pre-MBA Journey & The "Discovery" Phase

[0:07:36] - The Accidental Start: Investing in an Indian Ice Cream Parlor (Hokey Pokey)

[0:12:30] - The "Ganti Bajge" Moment: Identifying the FMCG Innovation Gap in India

[0:17:45] - The Leap: Moving to India & The Conditions for Mentorship

[0:23:45] - From Parlor Insights to Packaged Goods: The Birth of Epigamia

[0:34:54] - Scaling Challenges, Building the Team, and the Strategic Pivot to Greek Yogurt

[0:46:58] - Funding the Dream & The Danone Partnership Learnings

[1:02:23] - Future Vision for Epigamia & Navigating the Indian vs. US Business Landscape

[1:08:24] - Rohan's Advice to Aspiring Brand Builders

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