Ice Popsicle Brand Skippi Hits Rough Patch After Shark Tank Boom
by Lokesh Choudhary · Inc42SUMMARY
- After rapid expansion to 14,000+ outlets on the back of Shark Tank hype, Skippi saw demand cool, leaving distributors with unsold inventory and dragging FY25 operating revenue down 59%
- Salary delays, layoffs and a pullback from tier II & III cities followed, with employee expenses halving in FY25
- Auditors have also flagged long delays in PF and statutory dues, unpaid borrowings, uninsured assets and a factory operating without a valid licence
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Shark Tank-famed ice popsicle startup Skippi is grappling with a sharp slowdown after rapid expansion, with its FY25 financials and audit notes pointing to deeper operational and regulatory stress.
Employees have faced salary delays, PF dues have not been deposited for nearly two years, and distributors say they are stuck with unsold inventory.
As a result, Skippi’s operating revenue plunged 59% to INR 8.2 Cr in FY25 from INR 20 Cr in the previous fiscal year.
Founded in 2021 by Ravi and Anuja Kabra, the Hyderabad-based startup positioned itself as India’s first exclusive ice popsicle brand offering preservative-free ‘chuskis’.