For every successful startup founder, an aspiration is to scale, find an exit, and most importantly, ensure their brand draws love forever!

When Sreejith Moolayil and Puru Gupta started True Elements in 2013, they had similar ambitions. And, the brand hit their biggest milestone when Marico offered to acquire 53.7% of their stocks in 2022.

Sreejith and Puru pounced on the opportunity and hit a trifecta:

• Secured the True Elements’ legacy—ensured the brand’s name outlives them
• Unlocked resources for growth in modern trade with backing from Marico
• Expanded their footprint to 20,000 general trade stores

And, here’s the kicker: Sreejith and Puru are still in the driver’s seat, and with Marico’s backing, they are steering the company into an even faster growth trajectory.

Just like that, the second innings of True Elements unfolded!

But, What Made True Elements An Eye-Candy For Marico?

At the time, Marico was already a heavyweight in India’s FMCG scene but wanted to break into the booming healthy snacking segment, and what better way to do that than acquire the leader of the pack; ergo, True Elements!

Afterall, True Elements had a stunning track record – 100% YoY growth for the last 5 fiscals – beat that!

On top of that, True Elements had carved a niche of trust in the healthy snacking segment, and earned a cult following of loyal customers. Cherry on the top, in its truest sense!

With that note, let’s delve into the real story—the secret sauce – how they dominated the healthy snacking category?

Well, it was through an incredible NPD (New Product Development) framework – a framework that not only made True Elements come out as a fearless brand but also took it to the zenith of the segment!

Under The Lens: True Elements’ NPD Framework!

Evaluating Market Gaps

At True Elements, the strategy isn’t about drowning in data; it’s about trusting the gut and daring to innovate. Sreejith even shared during a session at D2CX by Inc42 –

“If evaluating market gaps was purely based on data, Apple would have never introduced touch-screen iPhones.”

That’s boldness, no?

Launch Urgency

Up until Series A, the company played the product launch game with some serious urgency. They’d launch a product, watch how it performed over a set timeframe, and then decide—keep it or shelve it.

A Healthy Fact: Their very first SKU—green tea bags that they launched and shelved within 2 years.

Time To Market

In one scenario, True Elements went from ideation to market in as little as 7 days—only after ensuring guardrails for health or legal red flags. This isn’t just about speed or efficiency; it’s a move that keeps the competition guessing.

Someone rightly said – make them guess, and then make them sweat!

Selling Price To COGS Ratio

For True Elements, what matters is maintaining price parity across online and offline channels. How do they do it? By setting the selling price at 5X their cost of goods sold (COGS).

Simple, right?

Hero SKU

Sreejith and Puru are firm believers that the idea of a “hero SKU” is one of the biggest myths in FMCG. Sure, if a product in the portfolio stood out, that’s fantastic—but they never got hung up on that from the start.

Many FMCG brands still fall into this trap in their early days!

TAM, SAM, SOM

At True Elements, these market size metrics are just that—metrics. They’re there to validate that the brand is on the right track, but they don’t dictate product launches.

You aren’t alone – even we were shocked to hear this!

When you think about it, launching products is never enough. You really, really need to ace the acquisition and retention game to dominate a highly competitive segment like healthy snacking!

And, this is where the boldness and fearlessness of Sreejith and Puru comes to limelight!

4 Masterstrokes By True Elements, All Out Of The Park!

Going Omnichannel Early-On

From its early days, True Elements never missed a chance to grab low-hanging fruits – they zeroed in on mid-sized general trade stores—those in-between spots that offered more than a grocery store but less than a supermarket.

Ingredient Traceability Tool

Imagine a healthy snacking brand allowing customers to trace exactly where ingredients came from and just how healthy—or not—they were.

What would you call this – bold or outright crazy?

But, what matters is this fearless move amplified credibility!

The ‘Clean Brand’ Narrative

True Elements hit a major milestone in 2021, earning the ‘Clean Label’ and ‘100% Whole Grain’ badges from top US-based organisations. These seals of approval didn’t just boost their credibility—they supercharged their ‘Clean Brand’ story, winning over even more consumer trust.

Seamless, right?

Options Galore For Consumers

By launching products across categories, the company ensured they always have something fresh and exciting for consumers to explore.

Today, True Elements is present across 13 categories, over 70 products and more than 200 SKUs including western breakfast (Oats, Muesli, Granola, Flakes), Indian breakfast (Poha, Upma, Dosa), and snacks (roasted seeds, seed mixes, raw seeds), etc.

How many of these products have you tried?

Another Masterstroke In The Making?

In a recent twist, the team has teamed up with cricketer Rohit Sharma to launch RS by True Elements, set to debut by the end of August ‘24.

This collaboration is all about delivering healthy breakfast and snack options that resonate with today’s health-conscious consumers who value transparency in what they eat.

Exciting times ahead!