Food & Drinks
Goenchi
SEASON 3 : Episode 10
BRAND
Goenchi
COMPANY NAME
Goenchi Industries Private Limited
FOUNDERS
Yash Pradeep Sawardekar, Tulika Pradeep Sawardekar
ORIGNAL ASK
1 crore for 5% equity at the valuation of Rs. 20 crores
DEAL
2 crores for 15% equity at the valuation of Rs. 13.33 crores
Every bottle of Goenchi stands as a testament to the traditional distillation process, carefully crafted in small batches from a single natural ingredient. They employ a 100% copper pot-still, excluding the use of yeast and sugar. Rigorous testing and quality control at each stage result in a stellar Feni with a flavour profile as authentic as the skilled artisans behind its creation.
Coconut Feni:
Double distilled to perfection in a traditional 100% copper pot still, Coconut Feni is derived from the nectar of coconut flowers. This process unfolds under the watchful eye of ancestors, ensuring a slow, natural fermentation. The resulting flavour profile offers refreshing notes of tender coconut water, sea salt, green chilly, with a sweet, floral finish. Ideal for consumption, it is best served chilled with tonic water or over ice with a lime twist.
Cashew Feni:
Double distilled to perfection in a traditional 100% copper pot still, Cashew Feni is crafted from the juice of Goan Cashew Apples. Following a slow, natural fermentation, overseen by ancestral guardians, the Feni boasts refreshing notes of tropical jackfruit, pineapple, green pepper, and guava cheese. To savour its essence, it is best served chilled with lemon-lime soda or over ice with an orange twist.
These distinctive offerings exemplify Goenchi’s commitment to traditional craftsmanship and the preservation of authentic Feni flavours.
Founders & their story
- Yash Pradeep Sawardekar
- Tulika Pradeep Sawardekar
Goenchi, a distinguished artisanal Feni brand rooted in the rich traditions of Goa, boasts a legacy spanning five hundred years. Founded by individuals hailing from the vibrant state of Goa, the brand has embraced a time-honored method of Feni production passed down through generations. Much like Champagne from France, Feni from Goa holds the prestigious Geographical Indication tag, symbolizing its unique origin and exceptional quality. Proudly established in April 2023, Goenchi sets itself apart as a new-age Feni producer committed to crafting the world’s finest spirit. The brand’s dedication to authenticity is reflected in its on-site production at their own farm, employing traditional family methods and sustainable practices. Goenchi’s Feni, made from the exquisite blend of cashew apples and coconut flowers, stands out for its purity, devoid of any additives, flavours, or sugars.
Despite the challenges faced by Feni producers in India, particularly due to the lower regard often accorded to spirits originating from the country, Goenchi is on a mission to redefine perceptions and elevate Feni to a global stage. The brand aims to challenge stereotypes surrounding Indian spirits and showcase the exceptional quality of Goa’s Feni. In a market where the commercialization of spirits, particularly Indian Made Foreign Liquor (IMFL), has gained prominence due to its cost-effectiveness and lower labour intensity, Goenchi stands as a proud, bootstrapped entity, focused on preserving the authentic craft of Feni. The brand’s commitment to breaking barriers and reviving the art of crafting Coconut Feni, a dwindling tradition, is evident in their dedication to quality and heritage.
With availability in over 100 premium wine stores and retail outlets across Goa, Goenchi has strategically positioned itself to cater to a discerning audience. The overall market size in Goa, estimated at 3600 crores, sees Feni carve a niche with a regulated market share of 72 crores and an additional 450 crores in the unregulated sector. Notably, the Coconut Feni segment, valued at 10 crores, represents a unique craft that Goenchi is determined to preserve and revitalize. In essence, Goenchi, meaning “Of Goa” in Konkani, not only symbolizes a brand but embodies a cultural heritage, determined to reclaim its rightful place in the global spirit’s market.
About the company
Crafted for centuries using techniques passed down from one generation to the next, Feni embodies the enduring spirit that has withstood the challenges of monarchies, colonialism, and modernism. A testament to this resilience, Feni Konnank Bhienam stands firm, fearlessly embracing its rich heritage. With ancestors as vigilant guardians, Feni Konnank Bhienam asserts its indomitable presence.
As authentic as the artisans behind its creation, Goenchi encapsulates the essence of traditional craftsmanship. Each bottle of Goenchi is meticulously distilled in small batches using a 100% copper pot-still, without the addition of yeast and sugar. Rigorous testing and quality control at every stage ensure a stellar Feni, mirroring the authenticity of its creators.
Embedded within the community it serves, Goenchi thrives alongside and within the local fabric. Sourcing ingredients through a responsible program, they uphold high standards in health and safety, social responsibility, environmental impact, and business integrity. In this process, Goenchi not only ensures the excellence of its product but also uplifts the livelihoods of local partners who contribute to its production.
Revenue
Priced at an MRP of Rs. 1449, Goenchi’s exceptional Feni is currently exclusively available in the vibrant state of Goa. With a robust gross margin of 42.8%, the brand has witnessed a substantial revenue of 10 lakhs in September 2023. Delving into the unit economics, each bottle contributes a noteworthy net margin of Rs. 214, a testament to the brand’s financial viability and sound business model.
Founders’ Ask
1 crore for 5% equity at the valuation of Rs. 20 crores.
Offers:
Deepinder offer 1: 1 crore for 10% equity at the valuation of Rs. 10 crores.
Deepinder offer 2: 2 crores for 15% equity at the valuation of Rs. 13.33 crores.
Final Deal
Deepinder offer 2: 2 crores for 15% equity at the valuation of Rs. 13.33 crores.
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