Biena was at a crossroads.
Five years ago, the brand’s popular roasted chickpeas were widely distributed at natural and conventional grocery chains, including Walmart, Whole Foods and Target, and the brand was making significant headway in travel retail stores. That year, Biena also completed an $8 million Series B funding round and launched an innovative line of chickpea puffs that helped establish the company as a snacking platform.
The pandemic, however, forced founder Poorvi Patodia to adjust its growth strategy. Biena was faced with declining margins and retail channels that were once promising but now unprofitable. Patodia had to make, in her words, “risky decisions.”
Biena may have changed course, but its focus on financial fundamentals and mainstream consumer appeal helped the brand remain on a sustainable and long-term growth path.
In this episode, Poorvi talks about how Biena navigated the challenging period and how a “build to win” philosophy influenced key decisions during the process. She also defines and explains the value of “true differentiation,” why the company is pursuing a dual platform strategy and shares her take on when founders should raise capital and how to identify distributors with aligned values.
Show notes:
Poorvi Patodia, Founder & CEO, Biena — Poorvi talks about judging a pitch slam hosted by Naturally New England, Biena’s unexpected appearance in a Kristen Bell-led TV show, and why her family keeps her grounded amid the pressures of operating a food business. She also offers her take on PepsiCo’s acquisition of Siete and how differentiated brand attributes and mainstream appeal have been key to its success. Poorvi also discusses why Biena re-evaluated every approach and strategy associated with the business during a challenging time for the brand, the data and consumer insights that informed a new platform strategy, and why the company’s chip line is focused on functionality and calories versus ingredients. She also explains the importance of testing and learning in small ways, having enough cash on hand and why founders shouldn’t worry about margin when choosing a distribution partner.
Brands in this episode: Biena, Siete, RXBAR, David
