The Inspiring Journey of Rohan Khanduja: Founder of Tripole
In the world of startups, some stories resonate deeply with the spirit of loyalty and perseverance. The journey of the founder of Tripole, is one such tale that inspires entrepreneurs and dreamers alike.
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Who is the founder of Tripole?
Rohan Khanduja is the founder of Tripole. It is a brand that makes hiking and backpacking gear, including rucksacks, sleeping bags, and duffel bags.
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Early Life and Education
Rohan was born and raised in Delhi, where he completed his schooling. He pursued Engineering at BITS Pilani, KK Birla Goa Campus, and later secured a job at J.P. Morgan. He joined as an investment banker and worked for over 2 years with the company. He also holds a CFA (Chartered Financial Analyst) degree. He also worked in Riyadh for a few months, but he soon realized that the career path did not bring him fulfilment. After just a few months, he decided to return to India, intending to take a short break in 2017.
Rohan had always been drawn to the mountains, but his love for trekking blossomed in 2016 during a visit to Dharamshala. Immersed in the pristine beauty of nature, he developed a deep connection with trekking. Inspired by this experience, Rohan returned and encouraged his friends to plan a trekking adventure together.
The group decided to explore the Nepal Himalayan Base Camp, but the trip turned out to be costly due to the expensive trekking gear they had to purchase. This experience made Rohan realize a significant gap in the market for affordable and accessible trekking equipment.
In 2017, Tripole was born from Rohan’s desire to create high-quality and affordable outdoor gear. Rohan combined his analytical skills and passion for adventure to lay the foundation of a brand that caters to outdoor enthusiasts. He started operations from just a small room, and envisioned a company that today stands out for its quality, affordability, and commitment to customer satisfaction.
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Tripole and Financial Growth
Unlike many competitors, Tripole prides itself on manufacturing all its products in-house. This vertical integration allows the company to maintain stringent quality control while keeping costs competitive. Over the years, Tripole expanded from its modest beginnings to operating two full-fledged factories.
Tripole’s financial journey reflects its consistent growth. From generating ₹11 crores in revenue during FY22-23 to achieving ₹14.2 crores in FY23-24, the company is on track to reach ₹20 crores in FY24-25. With average monthly sales of ₹1.6 crores over the first three months and an average order value of ₹1,525, Tripole’s upward trajectory is remarkable, especially considering it was bootstrapped until its Shark Tank appearance. The initial investment of ₹15 lakhs and an overdraft limit of ₹1 crore were crucial in sustaining operations and fueling growth.
Tripole’s sales is a balanced mix of domestic and international channels. The domestic market, which accounts for 80% of total sales, is dominated by online platforms like Amazon and Flipkart (68%) and offline sales (12%). The remaining 20% comes from international markets, primarily driven by Amazon’s global platform.
Initially, rucksacks contributed 100% of Tripole’s revenue. Over time, the brand diversified its portfolio, with rucksacks now accounting for 70% of revenue. Tripole’s product line boasts over 250 SKUs, including sleeping bags, travel accessories, backpacks, and apparel. This evolution has enabled the company to cater to a wider audience and meet the varied needs of outdoor enthusiasts.
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Tripole in Shark Tank India
Recently Rohan’s appearance on Shark Tank India Season 4, impressed everyone. He seeks an investment of ₹1 crore for 1% equity, he valued his company at ₹100 crores. This bold valuation drew mixed reactions from the sharks. Anupam Mittal was sceptical and questioned the basis of such an ambitious valuation and critiquing Tripole’s social media presence. His concerns highlighted the challenges of building a strong online community, with Rohan’s social media presence standing at only 8,000 followers (Now 10k).
However, Namita Thapar, Kunal Bahl, and Ritesh Agarwal saw potential in Rohan’s vision. Namita presented two offers, ₹50 lakh for 1% equity with ₹50 lakh debt at 9% interest, or ₹1 crore for 1.5% equity with a 1% royalty until ₹1 crore was recouped. Kunal Bahl countered with ₹3 crores for 7.5% equity, valuing the company at ₹40 crores. Ultimately, Ritesh Agarwal offered ₹75 lakh for 1.15% equity and ₹25 lakh debt at 9% interest over five years. Rohan chose to close the deal with Ritesh.
Despite its success, Tripole faces challenges common to startups in the outdoor gear industry, such as scaling operations and managing supply chains. Rohan’s journey is a story of the power of resilience, innovation, and strategic decision-making. From starting in a small room to competing with industry giants, Tripole’s rise under his leadership is nothing short of inspiring. As the company continues to grow and evolve, Rohan’s story serves as a beacon of hope for entrepreneurs striving to turn their dreams into reality.
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