BENGALURU – TagZ Foods, the "better-for-you" snack brand that gained national fame on the first season of Shark Tank India, has reported a dramatic 90% decline in its operating revenue for the financial year ending March 2025 (FY25). According to recent regulatory filings and industry reports, the startup’s revenue plummeted to ₹1.3 Crore, down from approximately ₹23 Crore in FY24.
From Shark Tank Darling to "Fire Sale"
Founded in 2019 by Anish Basu Roy and Sagar Bhalotia, TagZ initially disrupted the Indian snack market with its innovative "popped" potato chips, claiming 50% less fat than traditional fried varieties. The brand saw explosive growth post-show, expanding into 22 cities and international markets like Dubai and Kuwait.
However, the rapid scaling came at a high cost. By late 2024, facing mounting losses and a challenging funding environment, TagZ was acquired by Reliance Consumer Products Limited (RCPL) in what analysts described as a "fire sale" valued at roughly ₹28 Crore—a significant drop from its previous peak valuation of nearly ₹75 Crore.
Why the Revenue Fell So Sharply?
The 90% drop in headline revenue for FY25 is attributed to several structural transitions:
Integration with Reliance: Following the acquisition in November 2024, the company underwent a massive operational reset. The focus shifted from independent D2C (Direct-to-Consumer) sales to integrating with Reliance’s massive offline distribution network.
Inventory & Distribution Calibration: Sources suggest a temporary halt in aggressive digital marketing and third-party e-commerce listings to streamline supply chains under the new parent company.
Strategic Pivot: Under Reliance, TagZ is pivoting from a premium niche brand to a mass-market player, which involves restructuring price points and manufacturing processes that impacted short-term billing.
"TagZ is currently in a 'hibernation-to-harvest' phase. While the standalone revenue looks bleak, the brand is being re-engineered to leverage the scale of 19,000+ Reliance Retail stores," says a retail sector analyst.
The Current Landscape
Despite the revenue dip, TagZ remains a key part of Reliance's strategy to challenge incumbents like PepsiCo (Lays) and Haldiram’s. The brand’s "popped" technology is being leveraged to create a new category of "fitter" snacks for India’s growing health-conscious urban middle class.
Financial Comparison: FY24 vs FY25
| Metric | FY24 (Actuals) | FY25 (Reported) | Change |
| Operating Revenue | ~₹23.0 Crore | ₹1.3 Crore | -94.3% |
| Employee Count | ~70+ | 1 (Legal minimum) | Restructured |
| Parent Entity | Independent | Reliance Consumer | Acquired |