Tripole, a homegrown Indian startup, has rapidly gained traction in the outdoor gear and equipment industry since its inception in 2017. Founded by Rohan Khanduja, the brand began operations in a small room and has since expanded into two full-fledged factories. Specializing in rucksacks, backpacks, sleeping bags, travel accessories, and apparel, Tripole stands out for its commitment to affordability and quality. Unlike legacy brands like Decathlon, Tripole manufactures everything in-house, which allows for better quality control and competitive pricing in the ₹8,500 crore Indian outdoor gear market.
The brand’s Instagram community, boasting 8.3K followers, is a testament to its growing influence. Tripole’s strategy of showcasing real customers using their products during outdoor adventures builds trust and fosters a strong sense of community. With over 250 SKUs, the brand’s rucksacks make up 70% of sales, while backpacks, waist packs, apparel, and travel accessories contribute to the rest of its diverse product lineup.
By focusing on affordability, Tripole provides high-quality products at prices significantly lower than industry giants. The brand’s domestic market generates 80% of its sales, with 68% coming from online marketplaces like Amazon and Flipkart, while 20% of sales come from international markets.
When Tripole appeared on Shark Tank India, Rohan Khanduja sought ₹1 Crore for 1.5% equity, valuing the company at ₹65.22 Crores. Despite some Sharks, like Aman Gupta and Anupam Mittal, opting out due to concerns over valuation and product differentiation, the pitch took an exciting turn when Ritesh Agarwal and Kunal Bahl entered the ring with competing offers. Ritesh initially offered ₹60 Lakhs for 1% equity, along with ₹40 Lakhs as debt at 9% interest for five years. Kunal Bahl, impressed by Rohan’s vision, countered with ₹3 Crores for 7.5% equity, valuing the company at ₹40 Crores. Rohan, however, countered with a higher valuation of ₹75 Crores, which Kunal held firm against.
The final deal came when Ritesh made a revised offer of ₹75 Lakhs for 1.15% equity and ₹40 Lakhs as debt at 9% interest. Namita Thapar matched this offer, but in the end, Rohan chose to accept Ritesh’s proposal. The deal was sealed at a valuation of ₹65.22 Crores, marking a significant milestone in Tripole’s journey.
With the backing of a Shark like Ritesh Agarwal, Tripole is poised for even greater success. This deal not only validates the brand’s potential but also opens up new opportunities for growth and expansion. Tripole’s story is one of vision, resilience, and a commitment to delivering high-quality, affordable outdoor gear that speaks to the heart of adventure enthusiasts everywhere. As the brand continues to scale new heights, its future looks incredibly bright in India and beyond.
