StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The jewelry industry thrives on craftsmanship and design, offering various accessories. Precious metals like gold and silver, adorned with gemstones, create timeless pieces. Trends in jewelry often reflect cultural influences and individual preferences. E-commerce has revolutionized the industry, providing convenient access to a global market.
The global jewelry market, valued at USD 237.65 billion in 2021, anticipates steady growth at a CAGR of 7.7% through the forecast period. Rings dominate as the largest segment, securing a 33.7% market share in 2022. Projections suggest its continued dominance, reaching a market share of 34.5% by 2030.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Deepak Khanna (Owner) and Paarth Khanna (Designer) of DRK Jewels to understand the operational strategies of DRK Jewels in the jewelry industry, gaining insights into their unique approach and positioning within the sector.
StartupTalky: What does DRK Jewels do? What was the motivation/vision with which you started?
Deepak Khanna: The brand name DRK Jewels is derived from its visionary founder, the venerable Dhani Ram Khanna, who has a storied legacy of 68 years. Nestled within the vibrant market of Chandni Chowk, Delhi, our emporium of opulence is distinguished by its artisanal prowess, with an emphasis on the intricate artistry of handmade jewelry, having begun by showcasing the resplendence of Persian filigree work.
The genesis of DRK Jewels traces back to the Late Shri Dhani Ram Khanna, whose love for artistic gold jewelry burgeoned into a multifaceted enterprise encompassing gold, diamond, polki, gemstones, and temple jewelry. He ardently believed in the significance of jewelry as an embodiment of design artistry, a sentiment embedded in the brand’s ethos.
Incepted with a strong clientele from South India, including the aristocracy and bureaucracy, DRK Jewels has evolved into a paragon of holistic adornment, offering diamond jewelry inspired by India’s national bird and the allure of raw, unadulterated polki jewelry. The brand’s evolution mirrors a timeless dedication to authentic craftsmanship that transcends mere embellishment, encapsulating the sincere narrative woven into every design—a testament to the founder’s enduring vision.
StartupTalky: What is/are the USP/s of DRK Jewels?
Deepak Khanna: Our premier jewelry brand stands out with a unique blend of timeless craftsmanship and contemporary design. Our USP lies in the meticulous selection of ethically sourced gemstones and precious metals, ensuring each piece tells a story of enduring beauty and responsibility.
Exclusive limited-edition collections showcase our commitment to rarity, offering customers distinctive, one-of-a-kind treasures. Exceptional attention to detail defines our bespoke creations, providing a personalized touch for every client. With a fusion of traditional artistry and modern innovation, we cater to the discerning taste of those who seek not just jewelry but a symbol of refined luxury and individuality.
StartupTalky: How has the jewelry industry changed in recent years, and how have DRK Jewels adapted to these changes?
Deepak Khanna: The jewelry industry has undergone a paradigm shift in recent years, embracing sustainability, technology, and personalized experiences. We at DRK Jewels have aptly endeavored to navigate these changes. We’ve embraced ethical sourcing, ensuring our gemstones and metals adhere to stringent sustainability standards.
We have evolved to provide a unique experience to our customers while strengthening our brand engagement. Moreover, our focus on bespoke creations allows us to cater to the growing demand for personalized jewelry. By seamlessly combining tradition with innovation, we offer not just products but meaningful, responsible, and customized expressions of elegance.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the jewelry industry? Can you share examples of how staying informed about industry trends has influenced DRK Jewels’ roadmap and business strategy?
Deepak Khanna: Staying abreast of evolving trends in the jewelry industry requires a multi-faceted approach. We like to be vigilant through continuous market research, attending industry events, and fostering collaborations with trend influencers. Social media monitoring and customer feedback play pivotal roles, providing real-time insights into shifting preferences. This information dynamically influences our product roadmap, ensuring our designs resonate with contemporary tastes. For instance, the surge in demand for sustainable practices prompted us to pivot towards ethically sourced materials, aligning with eco-conscious consumer values. Additionally, our adoption of innovative technologies, inspired by industry advancements, has elevated the customer experience. By synthesizing these insights, we not only stay on the pulse of industry trends but strategically integrate them into our offerings, reinforcing our commitment to relevance, sustainability, and customer satisfaction.
StartupTalky: What key metrics do you track to check DRK Jewels’s growth and performance?
Deepak Khanna: Monitoring the growth and performance of our jewelry brand involves tracking key metrics that provide a comprehensive view of our success. Sales performance is a fundamental indicator, offering insights into revenue generation and product popularity. Customer satisfaction metrics, including feedback and reviews, guide improvements in our offerings and customer experience. We closely watch conversion rates to assess the effectiveness of our marketing strategies and identify areas for enhancement. Inventory turnover rates ensure optimal stock levels, minimizing excess or shortage.
Social media engagement metrics gauge brand visibility and customer engagement. Additionally, we analyze return customer rates, indicating brand loyalty. By scrutinizing these metrics, we not only measure financial success but also refine our strategies, ensuring that our growth aligns with market dynamics and customer expectations, fostering a sustainable and thriving jewelry brand.
StartupTalky: What were the most significant challenges DRK Jewels faced in the past year, and how did you overcome them?
Deepak Khanna: In the past year, our jewelry brand navigated supply chain disruptions, impacting material availability. To counter this, we forged resilient partnerships with diverse suppliers, ensuring a steady flow of quality gemstones and metals. The global economic uncertainties posed challenges in consumer spending, prompting us to enhance our online presence and engage in targeted digital marketing strategies. Adapting to remote work dynamics, we invested in technology, fostering seamless collaboration among our design and production teams. Despite hurdles, our commitment to craftsmanship and customer satisfaction remained unwavering, driving us to innovate, stay agile, and emerge stronger in the ever-evolving landscape of the jewelry industry.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Paarth Khanna: Our marketing blends traditional elegance with digital finesse. We leverage social media platforms to showcase stunning designs, engaging with our audience through captivating visuals and storytelling. Collaborations with influencers and jewelry enthusiasts amplify our brand reach, creating a dynamic online community. A notable growth hack involved a limited-edition release, generating anticipation and exclusivity. We implemented referral programs, rewarding customers for spreading the brilliance of our brand. Additionally, personalized email campaigns enhance customer loyalty and tailoring experiences. By embracing a multi-faceted approach, from social media allure to exclusive releases, we continue to redefine how our jewelry brand resonates in the market.
For example, recognizing the surge in demand for minimalist, versatile pieces, we introduced a collection that seamlessly aligns with this trend.
StartupTalky: What are the important tools and software you use to run DRK Jewels smoothly?
Paarth Khanna: Efficiency is paramount in our jewelry brand’s operations. We employ inventory management systems to track precious materials, ensuring seamless production. Customer relationship management (CRM) software enhances personalized interactions, tailoring our service. E-commerce platforms serve as our digital storefronts, providing a user-friendly online shopping experience. Design software facilitates the creation of intricate pieces, combining artistry with technology. Secure payment gateways safeguard transactions, establishing trust. Social media analytics tools gauge market trends and optimize our online presence. Collaborative platforms streamline communication among our global teams, fostering creativity. With these tools harmonizing our processes, we elevate both craftsmanship and customer satisfaction in the intricate world of jewelry.
StartupTalky: What opportunities do you see for future growth in the jewelry industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Paarth Khanna: In the dynamic landscape of the jewelry industry, we identify substantial growth opportunities. In India, the rise of online shopping presents a vast market, emphasizing our commitment to a robust digital presence. With a focus on sustainable and ethical practices, we align with the evolving values of conscious consumers worldwide. Regionally, market behavior varies within states in India, with diverse preferences dictating design choices. Urban areas lean towards contemporary elegance, while traditional craftsmanship remains paramount in more culturally rooted regions. By understanding and adapting to these nuances, our brand is poised to thrive in the ever-evolving global and regional jewelry markets.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Paarth Khanna: The past year taught our team invaluable lessons in resilience and adaptability. Navigating challenges, we embraced agility in responding to dynamic market shifts, reinforcing the importance of staying nimble. Customer engagement took center stage, guiding us to enhance online experiences and communication strategies. Supply chain disruptions underscored the need for diverse and robust sourcing channels. These lessons propel us to fortify digital initiatives, deepen customer connections, and fortify supply chain resilience. As we continue crafting timeless jewelry, these insights serve as a compass, steering us toward innovation and strategic growth in the ever-evolving landscape of the industry.
StartupTalky: How do you plan to expand the customers, product, and team base in the future?
Paarth Khanna: Expanding our footprint involves a multi-faceted approach. Customer outreach focuses on targeted digital marketing, leveraging social media engagement and influencer collaborations to broaden our audience. Introducing diverse product lines, from signature collections to customizable designs, caters to varied tastes. We plan to scale our team strategically, tapping into specialized talents to enhance creativity and efficiency. Collaborative partnerships with artisans and designers amplify our product range. Investing in employee development ensures a skilled and motivated workforce. By fostering customer connections, diversifying products, and nurturing a dynamic team, we aim to organically expand our jewelry brand, captivating a broader market in the future.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?
Paarth Khanna: For aspiring entrepreneurs entering the intricate world of jewelry, resilience is paramount. Embrace challenges as opportunities to learn and grow. Cultivate a unique brand identity, emphasizing authenticity and craftsmanship. Prioritize customer relationships, as their satisfaction fuels brand loyalty. Stay abreast of industry trends, balancing tradition with innovation. Networking within the jewelry community fosters collaboration and growth. Strive for sustainability, aligning with conscious consumer values. Lastly, be agile in adapting to market dynamics. By weaving passion, adaptability, and customer-centricity into your entrepreneurial journey, you can craft a lasting and successful presence in the ever-evolving jewelry landscape.
StartupTalky extends its gratitude to Mr. Deepak and Mr. Paarth Khanna for dedicating their valuable time and generously sharing their insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
Coworking spaces provide flexible work solutions for diverse professionals. These hubs foster collaboration and creativity in response to the rise of remote work. They cater to individuals and small businesses with shared infrastructure and cost-effective options. The industry’s adaptability makes coworking spaces integral to the evolving work landscape. They continue to play a pivotal role in shaping modern work dynamics.
The coworking space industry is projected to reach 41,975 spaces by the end of 2024, experiencing an annual growth rate of approximately 21.3%. A forecast for 2021–2025 predicts a market increase of $13.35 billion, reflecting an 11% annual growth. However, the pandemic led to the closure of 21.76% of coworking spaces, underscoring the industry’s resilience despite challenges.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Robin Chhabra, Founder and CEO of Dextrus, We delved into understanding how Dextrus operates within the coworking space industry by exploring their strategies and gaining insights into their unique approach and positioning in the sector.
StartupTalky: What service does Dextrus provide? What was the motivation/vision with which you started?
Robin Chhabra: Dextrus offers office spaces as a service. We design, build, and operate premium office spaces for our clients. Our vision has been to bring a high level of design thinking to office space requirements, as it is an ever-changing landscape where flexibility and quality are key.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of Dextrus?
Robin Chhabra: We have expanded to give enterprise office space where we design and custom-build office spaces curated to the minutest details for our clients.
StartupTalky: How has the coworking space industry you are in changed in recent years, and how has Dextrus adapted to these changes?
Robin Chhabra: COVID caused most companies to look at our model more carefully and see resonance in our offerings. Clients’ requirements change over time as they grow and need flexible office solutions. They also don’t wish to have the headache of overseeing these needs as it distracts from core functions. Our prowess in design and high service quality has helped address both those needs.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the coworking space industry?
Robin Chhabra: We keep pushing the boundaries of design and service quality as we want to be the best in the business and hence focus mostly on that.
StartupTalky: What key metrics do you track to check Dextrus’s growth and performance?
Robin Chhabra: Occupancy levels are to be maintained at high levels, and customer satisfaction and good seat pricing are to ensure profitability.
StartupTalky: What were the most significant challenges Dextrus faced in the past year, and how did you overcome them?
Robin Chhabra: Hiring is our most significant challenge as we grow. Good talent who can be intrapreneurial. We focus internally on our team members via flexible policies as well, as we hope that we will spread the word that we are a good company to work for.
StartupTalky: Good service is something everyone is talking about in the service industry. How does Dextrus ensure that its clients are happy?
Robin Chhabra: Feedback is important, and learning from that feedback is as important.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Robin Chhabra: Quality, Quality, Quality is the only focus. Word spreads, and that brings the clients.
StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?
Robin Chhabra: We look for companies that are well established; they can be foreign or domestic. Foreign companies understand what our model can offer and come with experience using it abroad, hence making it easier to close deals, though Indian companies are fast catching up post-COVID.
StartupTalky: What are the important tools and software you use to run Dextrus smoothly?
Robin Chhabra: We use Google Suite, Asana for task management, and Slack for internal communications. All of these talk to each other. We have also built applications using a Google platform to help operate more efficiently. We use Tally and Zoho Books as well for accounting-related matters.
StartupTalky: What opportunities do you see for future growth in the coworking space industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Robin Chhabra: Enterprise workspaces have seen great demand in India, more than the rest of the world. Growth looks upwards, with coworking spaces will comprise of 10% of grade-A office space in the country soon.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Robin Chhabra: We continue to expand in Mumbai; once we achieve a comfortable size, we shall turn to the other major cities.
New Delhi [India], January 2: Washmart, India’s leading Professional laundry and dry cleaning service provider, is thrilled to announce its arrival in the bustling capital city of Delhi with the grand opening of its new store in Shaheen Bagh. This marks a significant step in Washmart’s nationwide expansion and brings its signature convenient, hygienic, and eco-friendly laundry solutions to Delhi residents.
Clean Living Made Easy for Busy Delhiites
Nestled in the vibrant South Delhi, the new Washmart store offers a welcoming and well-equipped space for all your laundry needs. Customers can enjoy:
Professional Dry Cleaning: Entrust your delicate garments and special occasion wear to Washmart’s expert dry cleaning services for guaranteed stain-free results.
Express drop-off and delivery: Short on time? Simply drop off your laundry and let Washmart handle the cleaning, with convenient delivery options back to your doorstep.
Eco-friendly cleaning: Washmart prioritizes sustainability, using eco-friendly detergents and water-saving processes to minimize environmental impact.
Mobile app integration: Manage your laundry needs seamlessly with the Washmart app. Track orders, schedule pickups and deliveries, and access exclusive deals, all at your fingertips.
Committed to Customer Satisfaction
“We’re excited to bring Washmart’s clean and convenient laundry experience to Delhi,” says B.P Singh, Founder and MD of Washmart. “We understand the busy lives Delhiites lead, and we’re confident that our services will provide them with a valuable time-saving solution, all while ensuring their clothes receive the utmost care.”
The opening of the new Washmart store in Delhi marks a promising beginning for the company in the capital city. Washmart is committed to exceeding customer expectations with its dedication to quality, convenience, and sustainability, making laundry day a breeze for Delhi residents.
Exciting Franchise Opportunity!
In an exciting development, Washmart is now offering a franchise opportunity for entrepreneurs interested in starting a laundry business. This opportunity allows individuals to join the Washmart family and bring the convenience of Washmart to even more communities across cities in India. With a proven business model, eco-friendly practices, and ongoing support, entrepreneurs can build successful businesses while revolutionizing the laundry experience in their areas.
About Washmart
Washmart is a reputable laundry and dry cleaning franchise chain in India, dedicated to delivering 100% hygienic and eco-friendly cleaning solutions. With a focus on innovation, convenience, and social responsibility, Washmart is rapidly expanding across the nation, setting new standards for the industry.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The HR (Human Resources) industry helps businesses care for their people. It involves finding and hiring new employees, ensuring everyone gets along, and helping with training and performance. HR professionals also use technology to do their jobs better. They focus on creating a happy workplace and ensuring everyone feels good at work.
The global HR market is set to reach $38.17 billion by 2027, driven by over 380,000 businesses and nearly one million HR employees. With an annual growth rate of 12.8%, the HR industry is outpacing the US market average, reflecting its growing importance on a global scale.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Anand Bhushan, CEO of EasyRecruit Plus, Lexicon Centre of MSME Excellence, and EduCrack. We explored how the brand operates in the HR sector, uncovering the unique strategies employed by EasyRecruit Plus in the industry.
StartupTalky: What service does EasyRecruit+ provide? What was the motivation/vision with which you started?
Anand Bhushan: EasyRecruit+ is an initiative to support recruiters from companies in shortlisting the right applicants with the right aptitude, technical knowledge, and good cognitive skills who also have a verified background. This will enable recruiters to boost overall productivity and efficiency while also saving them significant time and allowing them to hire individuals with high potential in their respective organizations. Over a period of time, it will also show up in company productivity as the quality of hires goes up.
We are offering a comprehensive range of tools and packages. Our packages include three modern and advanced tools –
ATT – Aptitude & Technical Testing: ATT helps recruiters test and assess applicants based on their normal mathematical abilities, reasoning capabilities, general English, data interpretation, and domain skills and abilities. These tests can also be customized by the Organization based on its own objectives.
IntAna – AI-based Interview: IntAna helps recruiters with advanced interview dynamics like – verbal, non-verbal & sentiment analysis of the candidates. The verbal analysis helps in understanding communication skills, speaking, articulation rate, and approach. The non-verbal analysis covers attention, confidence, engagement, expressions, and positive as well as negative emotions. The sentiment analysis captures around 10+ general emotions, 80+ mini-emotions, and 150+ micro-emotions so that recruiters can conduct a thorough screening process and save valuable time at hand. Based on this test, a comparative score is generated.
iBG -Background Check: iBG helps recruiters with the shortlisted candidates’ resume verifications and includes their Address verification, Professional Reference, Educational Qualification checks, Employment Performance Verification, Criminal database verification and a few other verifications as per the needs of the Organization.
In addition, we have added one more service name, HTD: During my stints in senior leadership in various industries, I have seen my HR managers struggling with the initial screening for hiring and, at times, have seen good candidates not being shortlisted because of non-standardized screening. Recruiters face several difficulties and have to spend a significant amount of their time vetting prospects, having them technically examined, or getting background checks on candidates. Shortlisting applicants with the proper attitude, cognition, engagement, and communication skills for a specific job description with a verified background is made easier and more efficient with EasyRecruit+.
StartupTalky: What new services have been added in the past year? What is/are the USP/s of EasyRecruit+ service?
Anand Bhushan: During our interactions with the Industry Leaders, the fact that I already knew was reiterated once again that although there are applicants in multiples for an open position, paradoxically, it also remains a fact that employable candidates with the aptitude and skill set remain few. Another challenge being faced by the Industry is finding and training employees in Junior Management and front-line positions, where the requirement is zero to 3 years of experience. Looking at these challenges, EasyRecruit Plus has added another service to its portfolio called HTD. In HTD, we recruit candidates on behalf of the Clients, make them undergo a Training Programme, do the certification, and then the candidates join the Principals.
The salient feature of our services is that being tech-enabled and AI-enabled, IntAna and ATT are reliable, objective, and biased and offer time-saving to the HR Teams. The HTD programs free the HR teams from other activities, while EasyRecruit Plus works on its strengths and does the candidate selection and training.
StartupTalky: How has the HR industry changed in recent years and how has EasyRecruit+ adapted to these changes?
Anand Bhushan: The industry has been evolving continuously; however, the pace has increased manifold in the last four years. Recruiters are finding that with new and disruptive technical and business advancements, job skills needed in the current roles are showing increasingly shorter life, and as a result, the candidates getting hired are neither 100% ready for the current job nor ready skill-wise for future requirements. Secondly, the Recruiters are now going out of their traditional talent pools and exploring other avenues. Colleges and Institutions are being looked upon for skilled resources, and accordingly, recruitment tools are being created to tap this pool. In the last three years, Working from home has made the candidates undertake virtual lessons and upskill themselves. Another important change that is happening is that the real good candidates have become very choosey about the Companies they join, and thus the HR has to come up with increasingly better Value Propositions for the employees. The outlook post-pandemic seems to be pretty good. The economy has started bouncing back, and although there are fears of a global slowdown, I feel India will come out unscathed. The job market is going to boom with the start-ups that are coming in and mature industries taking in more manpower. The signs are that India could be a major manufacturing and service hub, and that is going to add to the positive outcomes.
EasyRecruit Plus realizing the changing landscape of recruitment and candidate’s skill set, has also entered a new service to their portfolio by recruiting and training candidates on behalf of Clients, so they get Day Zero trained professionals on the first day of their On the Job training. This is going to ease a lot of the burden on the recruitment HRs in the organizations and add value to the candidates for better hires.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the HR industry?
Anand Bhushan: Industry Expert’s meetings, attending the HR meets and summits, etc, as well as participating in job fairs, TPO interactions, CEO meetings, Internet, Best Prax being followed in Industries etc, are a few ways we try to understand the latest trends and developments in the Industry.
StartupTalky: What were the most significant challenges EasyRecruit+ faced in the past year, and how did you overcome them?
Anand Bhushan: Making the HR leaders believe the usage of tech and AI-enabled platforms for recruitment has been one of the biggest challenges. They very well understand the benefits but are reluctant to try out because of so much noise about AI and the fact that there is a thought at the back of their minds that it may lead to a reduction in HR manpower going forward. Consistent discussions, showing them that it will free the HR for the value-added work by freeing them from mundane tasks and offering to take the recruitment and training of the front line, which is quite cumbersome, are helping us overcome these challenges.
StartupTalky: Good service is something everyone is talking about in the service industry. How do you ensure that the clients of EasyRecruit+ are happy?
Anand Bhushan: Promising only what we can deliver and delivering the service with impeccable quality and within costs and timelines are the only ways you can keep your clients happy. There’s no other mantra for it. We follow this to the T.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Anand Bhushan: So far, we have been relying on personal contacts and word-of-mouth publicity, a few appearances in HR meetings, and write-ups on a few platforms. Now, we are venturing into social media marketing and will soon be actively participating in industry forums of different levels as well as hosting them.
StartupTalky: Foreign clients- this is what most of the service-based companies are looking for. What has been your experience?
Anand Bhushan: So far, we have not ventured into this. However, we are keeping our options open for an opportunity as and when it arises.
StartupTalky: What opportunities do you see for future growth in the HR industry in India and the world? What kind of difference in market behaviour have you seen between India and the world?
Anand Bhushan: With the Indian economy bouncing back and stability in the socio-political situation, the Country’s job market is bound to grow. The only shadow we see currently is in the IT and IT-enabled services, which get impacted due to Global sentiments and showdown. However, with other sectors pulling on, the overall job market seems to be buoyant over the next few years. The market behaviour of India is more positive as compared to the World’s market because of the fact of India’s higher growth per annum actual and projected compared to other markets.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Anand Bhushan: Educating the Customer is very important. Taking feedback on whether the Client’s understanding is the same as ours. Incorporating these in our future plans in a more rigorous manner in planning out the new services is already on.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Anand Bhushan: For now, we are going to concentrate on the four services we have, including the HTD we have started. HTD requires a lot of focus to execute flawlessly, and making the systems and processes more robust is going to be our endeavour. Once that is done we will try to replicate the success with more number of such clients, who are already identified and initial talks started.
StartupTalky: One tip that you would like to share with another Service company founder?
Anand Bhushan: There is never a shortcut to success. It’s going to be a long haul. Strategies get overturned, revamped, and re-executed, but you have to be resilient once you have chosen a way forward, which your research has shown to be the right path. And finally. Never ignore your gut instinct.
StartupTalky extends its gratitude to Mr. Anand Bhushan for dedicating his valuable time and generously sharing his insights with all of us.
As we enter the New Year, the entrepreneurial landscape is overflowing with intriguing opportunities. The world is continually heading toward digitization. Moreover, the growing desire for personalized, convenient, and eco-friendly products and services creates new opportunities for innovative business ideas. As customer expectations shift, businesses must constantly look for ways to enhance the customer experience.
Whether you’re an established entrepreneur seeking to expand your portfolio or an aspiring visionary looking to create a name for yourself, these ideas cover a broad spectrum of industries. So, if you’re thinking about starting a new venture, here is a list of some of the best business ideas to consider in the coming year.
This article covers a list of great business ideas for the new year. We’ll help you plan well and consider all the important things before starting any business.
The design of the UI (User Interface) and UX (User Experience) are essential components in creating successful digital products and services. Starting a UI/UX design firm can be profitable as businesses increasingly recognize the value of user-centric design in the digital age. Focus on providing high-quality work, staying up-to-date on industry developments, and building a positive and cohesive work culture to help your design firm succeed in the competitive design landscape.
Green Drop Shipping
Drop shipping is an eCommerce business concept in which you sell things to customers without keeping any inventory. Rather, you buy goods from a third party as needed and distribute them directly to customers. It significantly decreases the financial risk of the business failing or failing to gain traction instantly. The green drop shipping approach corresponds with the growing global demand for sustainable living and ethical consumerism. Ensuring your product line includes sustainable and ethically sourced goods can make you stand out and become widely recognized.
Food Truck
A food truck is a mobile kitchen that sells and serves food to consumers on the street or in other public areas. Food trucks have grown in popularity in many places worldwide, offering a wide range of cuisines and menu selections. Compared to opening a regular restaurant, it usually has fewer upfront costs. You can use products that are in season and locally sourced to demonstrate your dedication to freshness and help out the local farmers. Aspiring chefs can also experiment with their food, catering to the wants of people who would love to participate in emerging food trends.
How To Start a Food Truck Business 2024
Niche Subscription Service
Niche subscription services cater to an audience’s specialized interests, hobbies, or needs. They have attracted a lot of attention since they provide one-of-a-kind custom experiences. To start your company, you must develop a good business proposal, for which you must choose a niche. It could be literary works, skincare, coffee, herbs and spices, clothing, jewelry, accessories, perfume, or anything else. Understanding your target market’s wants and selecting high-quality products are vital components in starting a business of this kind.
Recycled Furniture Design Studio
Starting a Recycled Furniture Design Studio involves creating exclusive, sustainable furniture pieces out of recycled materials. You should clearly describe the design and aesthetic of your reinvented furniture. You can showcase your portfolio and draw customers using social networking platforms like Facebook, Pinterest, and Instagram. By focusing on creative concepts, quality craftsmanship, and effective marketing, you can build a brand that appeals to people who are environmentally conscious yet still want stylish pieces to ramp up their homes.
3D Printed Fashion
The amalgamation of fashion and technology has received attention for its capacity to push the boundaries of traditional garment production and offer new design possibilities. Designers can experiment with unusual shapes, textures, and structures that appeal to their customer base. One of the key advantages of this approach is that it reduces the total volume of waste generated throughout the production process. It enables on-demand production, eliminating your need for big warehouses to maintain inventory.
Cloud Kitchen
In today’s society, food delivery has become an important aspect of many people’s everyday lives. A cloud kitchen is a food service establishment that only accepts online orders and delivers food. They do not have a physical venue where customers can dine. Your only priority is to optimize delivery logistics so that food reaches clients fast and retains its quality during transit. Cloud kitchens can also establish and operate many virtual restaurant brands from the same kitchen, catering to a variety of consumer tastes.
You can start a company that creates tailored trip recommendations. This entails tailoring travel experiences to meet the preferences and needs of each individual. Offer advice on what to do, where to stay, what to eat, and entertainment options that fit the traveler’s interests. Take into account milestones like birthdays or anniversaries and include unique surprises or goodies into the trip experience to make a lasting impression. Use feedback to modify and improve your personalization methods constantly. Delegating the planning process has recently become more popular as an opportunity for people to minimize stress and enjoy their getaway.
Airbnb Host
Being an Airbnb host involves opening your house or property to guests through the Airbnb website. To do this, you have to create an accurate and thorough listing that has clear house rules, an intriguing description, and outstanding photographs. Provide your guests with basic amenities such as clean sheets, towels, toiletries, and kitchen necessities. You can add extra touches like a welcome basket or a handbook with local insights.
Resume Consultancy
In a competitive job market, individuals frequently seek professional assistance to differentiate themselves from other applicants. With a resume consultation service, you can help individuals create successful resumes and increase their chances of landing a job. Conduct thorough interviews with customers to learn about their career goals, accomplishments, and aspirations. You must also regularly upgrade your knowledge of the latest trends in resume writing and professional growth through workshops and courses.
Vending Machines
Starting and running a vending machine business can be a profitable endeavor. It offers convenient access to an assortment of products. Instead of providing only snacks and beverages, consider exciting products such as card games, cosmetics, flowers, painting tools, pet snacks, etc.
Unique vending concepts help to boost a brand’s image and make it more memorable to customers. They can also be placed anywhere with a power outlet, making it an excellent investment.
Professional Organizer
With a professional organization service, you will be helping individuals or businesses decluttering and organizing their areas for enhanced functionality and aesthetics. Discover all of the best ways to maximize space and storage. As your company grows, you could consider hiring personnel to manage several tasks simultaneously. This service has attracted the attention of influencers who want clean and crisp backgrounds for their shoots.
Conclusion
As the entrepreneurial spirit burns brightly, the road ahead is one of expectation, imagination, and the steadfast quest for success. From sustainable companies to cutting-edge technologies, the opportunities are as varied as the imaginations of those eager to take advantage of them. So, embrace your creativity and hustle on for success.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
Real estate is about buying and selling homes and businesses. It changes a lot based on how the economy is doing. When more people move to cities, and the population grows, there’s more need for homes and offices. Technology, like showing houses online, is making it easier to sell. The rules from the government also affect how things work. So, real estate is important for how our cities and countries grow.
India’s real estate market is set to soar to Rs. 65,000 crore (US$ 9.30 billion) by 2040, up from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Projected growth aims for a US$ 1 trillion market size by 2030, contributing 13% to the GDP by 2025. Looking further ahead, the sector is expected to expand to US$ 5.8 trillion by 2047, contributing 15.5% to India’s GDP, a significant rise from the current 7.3%.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Prudhvi Reddy, Founder and CEO of Assetmonk. We probed into how the brand navigates the real estate realm, unraveling the intricacies of Assetmonks’ distinctive approach within the industry.
StartupTalky: What does Assetmonk do? What was the motivation/vision with which you started?
Prudhvi Reddy: Assetmonk is one of the biggest alternative real estate investment platforms in India. Trusted by its investors across 31+ global geographies, the platform focuses on curating structured fixed-income products and fractional ownership opportunities backed by commercial real estate, an asset class that was once only available as an investment to the top 1%. With a vision to diversify traditional portfolios of retail investors with stable and high-yielding products, Assetmonk presents opportunities to match every investor goal, like passive income, capital appreciation, and long-term rentals.
StartupTalky: What is/are the USP/s of Assetmonk?
Prudhvi Reddy:
Scouting investment opportunities from India’s growing private corridors
Offering diverse products tailored to investors’ financial goals and objectives
Providing value-seeking investors access to growing alternative asset classes like office spaces, co-living, senior living, etc.
StartupTalky: How has the real estate industry changed in recent years, and how has Assetmonk adapted to these changes?
Prudhvi Reddy: The concept of FRE [fractional real estate] is new to India and is gradually witnessing increased popularity among forward-thinking retail investors seeking stable rentals and portfolio diversification. With SEBI now planning to regulate fractional ownership platforms as SME REITS, rapid industry growth is anticipated. As a key industry player, we are proactively observing the changes and bracing ourselves to get aligned with the upcoming policies without any hassles. Simultaneously, we are also working on enhancing our service standards by adopting the latest tech and prompt investor relations teams.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the real estate industry? Can you share examples of how staying informed about industry trends has influenced Assetmonk’s roadmap and business strategy?
Prudhvi Reddy: Since this is a new industry, we take pride in constantly learning about the nuances that will make investors’ experiences seamless. We stay in the lead by actively participating in seminars, forming strategic partnerships, and staying connected with industry stakeholders. We also maintain cordial relations with current and potential investors and regulatory bodies to be updated on what’s necessary.
StartupTalky: What key metrics do you track to check Assetmonk’s growth and performance?
Prudhvi Reddy:
Closely monitoring our growing AUM.
Analysing our investor base from different geographies, profiles, and objectives.
Checking investor satisfaction with regard to portfolio growth.
The frequency of repeat investments.
The growth of our investor community.
Successful product exits.
StartupTalky: What were the most significant challenges Assetmonk faced in the past year, and how did you overcome them?
Prudhvi Reddy: Since the concept is new, we encounter some skeptical investors who are eager to explore FRE but require a lot of clarifications, rightfully. There’s a steep learning curve, which we solve by educating our investors about modern alternative real estate investments. Another hurdle was the lack of regulation that made trust-building a challenge for potential investors. We’ve been successful in upholding our credibility by maintaining transparent communication, highlighting our internal processes, achieving a significant AUM, upgrading technology to be on par with the current times, and improving in-house standardization.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Prudhvi Reddy:
Adopting an education-first approach.
Creating a comprehensive knowledge base.
StartupTalky: What are the important tools and software you use to run Assetmonk smoothly?
Prudhvi Reddy:
To service potential investors’, we use tailored customer lifecycle management software.
To ease the KYC process – We onboard investors with a paperless process using DIGISIGN.
To maintain transparency – We provide investors with a tracking dashboard.
StartupTalky: What opportunities do you see for future growth in the real estate industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Prudhvi Reddy: For many Indians, investing is an emotional decision closely tied to traditional knowledge that is being passed down by generations. Being a diverse country, each state has a unique asset class preference. We understand this distinction and align our practices to diversify these traditional portfolios with a good balance of our alternative investment offerings to increase the potential of their portfolios and multiply their wealth the way they deserve.
StartupTalky: How do you plan to expand the customers, product, and team base in the future?
Prudhvi Reddy:
Customers: By creating strategic alliances, elevating the quality of our service, scouting for newer asset classes, and adopting the latest technology.
Product: Enhancing product offerings with superior supply quality and expanding to assets in more geographies.
Team: Focusing on growing sales and business development teams, amplifying our tech resources, and driving product developments.
StartupTalky: One tip that you would like to share with people reading this article who want to get into entrepreneurship?
Prudhvi Reddy: Tough times are stepping stones, but they should not distract investors from their financial goals. Be steady on the long-term vision. Additionally, here are some key insights:
Share what you know and keep everyone in your circle well-informed.
Understand your financial roadmap and invest in products that align with your objectives.
Look for investments that also yield results in the long run.
StartupTalky extends its gratitude to Mr. Prudhvi Reddy for dedicating his valuable time and generously sharing his insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The AI industry is a dynamic force, advancing machine learning and automation. From personalized user experiences to data analysis, AI is reshaping sectors globally. Its rapid evolution is driving innovation and transforming industries like healthcare and finance. The integration of intelligent technology reflects a pivotal shift in how businesses operate and adapt to the digital age.
The global artificial intelligence market, valued at $136.55 billion in 2022, is projected to grow at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030, reaching an estimated $1,811.8 billion. AI is expected to contribute $15.7 trillion to the global economy by 2030, surpassing the current output of China and India combined.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Ranjan Kumar, Co-founder and CEO of Entropik. We looked into how Entropik has been growing, facing challenges, learning valuable lessons, and planning for the future. Discover how their innovative approach is changing the AI industry.
StartupTalky: What service does Entropik provide? What was the motivation/vision with which you started?
Ranjan Kumar: Entropik is a Human Insights AI company specializing in consumer and user research, offering vertical SaaS solutions and API/SDK platform integrations. The motivation behind founding Entropik was to redefine how businesses understand and analyze human emotions and behavior. The vision was to leverage advanced technologies, such as Emotion AI, Behavior AI, and Generative AI, to provide comprehensive insights into consumer and user experiences. By combining these technologies, Entropik aimed to revolutionize traditional research methods, offering faster, scalable, and more accurate solutions.
The overarching goal was to enable businesses to make informed decisions by gaining a deeper understanding of human behavior and emotions in various contexts, from consumer preferences to user interactions with physical and digital products. Entropik’s commitment to innovation and human-centric insights continues to drive its mission of transforming the way businesses leverage insights for data-driven decision-making.
StartupTalky: What new features have been added in the past year? What are the USP/s of Entropik’s service?
Ranjan Kumar: This year, we have experienced remarkable growth with noteworthy additions to our Insights AI technology suite. We kicked off the year by introducing Decode, an Integrated Consumer Research Platform powered by Entropik’s Insights AI, reducing Time to Insights by six times. It’s an all-in-one platform for Quantitative, Qualitative, Diaries, Media, and Shopper research, integrated with a Global Panel of 80 million Respondents across 120 countries. Decode acts as a Single Source of Truth, unifying data efficiently. Its Unified Intelligence and Co-pilot features assimilate past and present first-party and third-party research data for actionable insights.
Additionally, we launched Qatalyst, an Integrated User Research platform with Insights AI, making user research six times faster. It facilitates moderated, unmoderated, and task-based research across Concepts, Prototypes, and Live Applications in one place. Qatalyst provides instant access to the target audience. Qatalyst’s Insights AI platform employs facial coding, eye tracking, voice tone, and generative AI for unbiased insights, ensuring a human-centric approach to product and service design. It’s the go-to platform for supercharging user research—faster, more agile, and equipped with powerful AI-driven insights.
StartupTalky: How has the AI industry changed in recent years, and how has Entropik adapted to these changes? Are there specific regulatory or technological shifts that have influenced your marketplace strategy?
Ranjan Kumar: In recent years, the Insights AI industry has undergone significant changes marked by technological advancements and increased demand for comprehensive insights. At Entropik, we have adapted by launching products like Decode and Qatalyst, leveraging our Insights AI platform, which supports Emotion AI, Behavior AI, and Generative AI to provide holistic views of consumer behavior and enhance user research. Our commitment to ethical AI practices aligns with evolving regulatory considerations, ensuring responsible data handling and user privacy. Additionally, our global expansion and localization efforts reflect our adaptability to diverse market needs. Entropik’s agility, innovation, and customer-centric approach position us to thrive in a dynamic industry landscape.
StartupTalky: How do you stay up to date on the latest trends and developments in the AI industry?
Ranjan Kumar: We stay updated on trends through continuous learning, networking, and diverse information channels. We attend and host conferences, workshops, and seminars, engaging with experts to gain insights and also drive the industry forward. Ongoing education via online courses and webinars with reputable institutions deepens our understanding. Additionally, actively participating in academic research and leveraging technology news platforms ensures real-time updates on market trends. This multifaceted approach positions us to navigate the Insights AI market research landscape.
StartupTalky: What key metrics do you track to check Entropik’s growth and performance? How do you use these metrics to identify areas for improvement and guide strategic decisions for future growth?
Ranjan Kumar: We closely monitor several key metrics to assess Entropik’s growth and performance. These include customer acquisition and retention rates, revenue growth, and product adoption metrics. By analysing these indicators, we can identify areas for improvement and guide strategic decisions for future growth. Additionally, we track user engagement in our products, Decode and Qatalyst, to ensure we are meeting the evolving needs of our clients. These metrics provide valuable insights that inform our product development and business expansion strategies.
StartupTalky: What were the most significant challenges Entropik faced in the past year, and how did you overcome them?
Ranjan Kumar: The global economic downturn posed a considerable hurdle, affecting market conditions and consumer spending. Amidst this, our commitment to global expansion faced challenges, yet it proved to be an energizing journey. The opening of Series B funding provided valuable opportunities for growth and innovation. Leveraging this funding, we enhanced our technological capabilities, enabling us to adapt swiftly to changing market dynamics.
StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?
Ranjan Kumar: Building trust in a marketplace requires a multi-pronged approach that cultivates a sense of shared responsibility and mutual benefit among all stakeholders. Transparency forms the cornerstone, with clear communication about policies, pricing, usage, and data practices fostering a sense of fairness. Investing in robust security measures and user privacy protections underscores respect for their information and builds confidence. Equipping both buyers and sellers with tools and resources not only enhances their sense of control but also empowers them, reinforcing a trustful environment. By consistently prioritizing fair practices, open communication, and stakeholder empowerment, a company can cultivate a marketplace where everyone feels valued, protected, and invested in its long-term success.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Ranjan Kumar: Our marketing strategies encompass a mix of digital marketing, content marketing, and targeted outreach to key industries. We leverage thought leadership through webinars, whitepapers, and participation in industry events to showcase our expertise. One notable growth hack was the strategic use of customer testimonials and case studies, highlighting the tangible impact of our solutions. This not only boosted our credibility but also generated organic interest and trust in our offerings, contributing to increased market visibility and growth.
StartupTalky: What opportunities do you see for future growth in the AI industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Ranjan Kumar: Globally, the increasing reliance on AI-driven insights for consumer and user research presents a significant avenue for expansion. As businesses prioritize understanding human emotions and behavior, our advanced Emotion AI, Behavior AI, and Generative AI technologies uniquely position us to meet these evolving needs. In India, a rapidly digitizing landscape and a growing emphasis on data-driven decision-making create a conducive environment for our solutions. However, market behavior nuances differ, with diverse industries dominating each region. In India, sectors such as Fintech and E-commerce are witnessing rapid adoption, while globally, industries like Media and Telecom are equally pivotal. Understanding and adapting to these regional variations are integral to our strategy, ensuring that our offerings align with the specific demands of each market for sustained growth.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your plans and strategies?
Ranjan Kumar: Over the past year, our team learned valuable lessons about the importance of agility, adaptability, and proactive communication. These lessons are instrumental in shaping our future plans and strategies. Moving forward, we aim to enhance our technological capabilities, further streamline our operational processes, and continue fostering a culture of innovation within our team. The resilience demonstrated during challenging times serves as a foundation for our strategic planning, ensuring we stay ahead in an ever-evolving landscape.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Ranjan Kumar: We have ambitious plans for expansion across multiple fronts. In terms of customers, we will focus on deepening our relationships with existing clients while actively pursuing partnerships in the US and European markets. Our service offering will evolve to meet emerging market demands, with a continuous commitment to advancing our emotional AI, behavioral AI, and generative AI technologies. Team expansion will be strategic, aligning with our growth trajectory, and will involve hiring top talent to drive innovation and support our expanding client base.
StartupTalky: One tip that you would like to share with another marketplace company founder?
Ranjan Kumar: As the founder of a deep-tech AI SaaS company, it is crucial to prioritize building and maintaining trust. Trust is the cornerstone of successful AI companies, influencing user adoption, retention, and positive word-of-mouth. Focus on transparency, ethical practices, and reliable customer support to foster trust among all stakeholders—customers, partners, and employees. Prioritize the long-term relationship over short-term gains, as a trustworthy reputation can significantly impact the sustained success and growth of your marketplace.
StartupTalky extends its gratitude to Mr. Ranjan Kumar for dedicating his valuable time and generously sharing his insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The Baby Care and skincare industry is dedicated to gentle infant products, emphasizing safety and hypoallergenic formulations. Brands increasingly focus on eco-friendly and organic options to meet the demand for sustainable choices. Safety certifications and dermatologist recommendations play a key role in building trust.
The ‘Baby & Child’ segment in beauty & personal care is projected to grow by $1 billion (+22.36%) from 2023 to 2028, with a CAGR of 11.75%. After eight consecutive years of growth, the indicator is estimated to reach $5.7 billion in 2028, marking a new peak.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Monisha, Akanksha, and Tanay Sharma, Co-founders of CITTA; exploring how CITTA maneuvers within the baby care and skincare industry, we delved into their strategies, gaining insights into the distinctive operations of the brand in this sector.
StartupTalky: What products does CITTA sell? What was the motivation/ vision with which you started?
Tanay Sharma: We at CITTA sell baby bath and skincare products for babies, kids, and adults. When Akanksha was studying in the U.S, my mom and grandma used to call and check up on her regularly, like most Indian moms, and offer their advice in the form of ‘nuskhe’ — drink turmeric milk before you sleep for healthy skin, use rosewater when you’re out in the sun, oil your hair with coconut oil before you wash them!
Similarly, when I was studying in Toronto, my parents, Akanksha, and everyone used to call me whether I had eaten well or not or whether I was taking care of myself, my health, or my skin. This was their way of caring for me even though we were a thousand miles apart. These ‘nuskhe’ are based on Indian traditions and ingredients that we Indians have been using for thousands of years; it is time-tested wisdom that works!
I wanted everyone to experience this love and care that I was fortunate enough to experience. Also, around the same time, a famous baby care brand came under fire for using unsafe ingredients in their baby powder. It was a big deal. I knew so many friends and family back in India who were loyal to that brand and were using this product for their babies! This incident gave my mom, Akanksha, and me the final push to create a safer brand for babies, and that is how we started CITTA.
With CITTA, we aimed to create products rooted in Indian traditions but backed by science in terms of safety and efficacy. As a parent, you take advice from friends, family, experts, and doctors — and only then make any decision for your baby, especially about their health. We wanted CITTA to be the convenient option that parents could completely rely on for their child’s skin health. We are bridging the gap between tradition and science to give parents the best of both worlds. At CITTA, we want to uphold the true values of our brand while constantly evolving toward a global market and a diverse audience base.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of CITTA’s products?
Akanksha Sharma: Recently, CITTA has undergone a remarkable transformation, introducing several exciting products and features that embody our commitment to providing the best care for your little ones. We have made ourselves more colourful and cuter. In response to the prevailing trend of monotone and single-colour packaging in the industry, we decided to break the mould.
We understand that childhood is synonymous with colours, so we infused pastel hues into our product labels to evoke the spirit of those cherished memories. Our unique approach stands out on the shelves and resonates with parents who appreciate the nostalgia associated with childhood colours.
We have launched our all-new Diaper Rash Cream. Crafted with natural ingredients and emollients, this cream goes beyond traditional rash treatment. Infused with the goodness of chamomile, sunflower, soybean, and zinc oxide, it not only addresses diaper rash issues but also prevents other rashes and nourishes and moisturizes the skin. We believe in the power of nature to provide gentle yet effective solutions for your baby’s skincare needs.
We have introduced our “MINIS” as well. In response to the valuable feedback from our customers, we have introduced our “minis” collection. These compact, travel-friendly versions of our popular products cater to the needs of parents who are always on the move. Whether it’s a weekend getaway or a quick errand, our minis ensure that your baby’s skin receives the same level of care and attention wherever you go.
At CITTA, our USPs lie in our unwavering commitment to thoughtful and effective skincare for babies and kids. Our entire product range is meticulously crafted with natural ingredients, harnessing the power of nature to care for your baby’s skin. We are proud to be free from toxins, harsh chemicals, parabens, sulphates, silicones, talc, mineral oils, allergens, petroleum jelly, and other potential irritants. This ensures that our products are not only safe but also gentle on your baby’s sensitive skin.
Our product range includes Moisturizing Baby Balm, India’s first moisturizer for the face and body with a balmy consistency that has the goodness of 8 natural oils, shea butter, and vitamin E and has no water to provide maximum moisturization while preventing rashes. Our talc-free baby powder is crafted with the natural alternative of talc such as corn, oats, and kaolin that keeps your baby’s skin smooth and soft, reduces friction, and prevent rashes while keeping it healthy. Our Foaming baby wash and foaming baby shampoo has a soap-free and tear-free formulation and is made with natural ingredients so that it cleans gently and keeps skin and scalp hydrating even after a bath. Our 12-in-1 Nourishing Baby Massage Oil has the goodness of 12 different oils to provide 12X nourishment and 12X Benefits.
StartupTalky: How has the baby care and skin care industry changed in recent years, and how has CITTA adapted to these changes?
Tanay Sharma: The baby care industry in India has witnessed a remarkable surge in demand for safe baby skincare products in recent years, leading to a significant rise in the presence and growth of homegrown and Indian brands catering to this sector. Several factors have contributed to this upward trend, including increased awareness among parents about the importance of using safe and natural products for their babies and a shift towards healthier and more sustainable lifestyles. Indian brands offer customized solutions by developing safe and effective skincare products for newborns, toddlers, and kids, leveraging the understanding of local preferences, cultural nuances, and traditional remedies.
Moreover, Indian markets are known for their access to high-quality raw materials. India has long been known for its rich reserves of natural resources, and this extends to the ingredients used in baby care products. Indian baby care brands have invested in research and development to understand the unique requirements of Indian babies, considering factors such as climate, skin type, and prevalent skin issues and sourcing locally available ingredients that are suitable for Indian skin.
Brands often utilize traditional ingredients known for their nourishing and healing properties, which resonate well with Indian consumers. For example, coconut oil, which is easily available in South India, is known to be beneficial for the skin and is well-suited for the region’s climate. Similarly, almond oil, which is readily available in North India, is known for its nourishing properties. Other traditional ingredients like turmeric oil, ashwagandha oil, brahmi oil, basil oil, and camphor oil are also beneficial for the skin and are culturally familiar to Indian consumers.
Indian and homegrown brands are putting a strong emphasis on natural and traditional ingredients, avoiding parabens, sulfates, silicones, strong fragrances, and potentially harmful chemicals. This commitment to safety and quality has helped build trust among parents who prioritize the well-being of their babies.
At CITTA, we already have placed a renewed focus on innovation and differentiation. Our commitment to research and development has allowed us to introduce cutting-edge products that address specific concerns faced by parents today. Whether it’s developing eco-friendly packaging, incorporating advanced technologies into our products, or introducing unique formulations, we strive to set ourselves apart in a crowded market.
We have invested heavily in sustainable practices, ensuring that our entire supply chain is environmentally responsible. From sourcing raw materials ethically to minimizing our carbon footprint, our commitment to sustainability is not just a market trend but a fundamental aspect of our business philosophy. This approach not only meets the demands of conscious consumers but also positions us as a responsible and forward-thinking player in the industry.
By staying true to our values and consistently evolving with the industry landscape, we are confident in our ability to not only navigate these changes successfully but also contribute positively to the evolving narrative of the baby care sector.
StartupTalky: Can you share examples of how staying ahead of industry trends has influenced CITTA’s product offerings or marketing strategies?
Akanksha Sharma: At CITTA, our commitment to excellence extends far beyond being a skincare brand for babies and kids; we strive to be a comprehensive and thoughtful solution for parents navigating the journey of parenthood. Staying ahead of industry trends has been a cornerstone of our approach, influencing not only our product offerings but also shaping our innovative marketing strategies.
Our dedication to providing value begins with information. We understand that parents seek more than just products – they crave knowledge and guidance. That’s why we have embraced a multi-faceted approach to disseminating information. Through live sessions with doctors on various social media platforms, we go beyond mere product promotion, delving into the broader aspects of parenting. These sessions not only inform our audience but also serve as an educational platform, empowering parents with valuable insights.
Our commitment to education extends to our website, where we’ve established an “Expert Corner.” Here, doctors and experts contribute articles and blogs, sharing their knowledge on diverse parenting topics. This not only enhances our credibility but also provides a valuable resource for parents seeking reliable information. Recognizing the importance of community-building, we leverage communication channels like emails and WhatsApp broadcasts. Through these channels, we offer personalized tips and insights, fostering a sense of community among our consumers. We don’t just want to be a product in their lives; we want to be a trusted companion throughout their parenting journey.
Furthermore, our approach to customer appreciation goes beyond conventional methods. We provide early access to our loyal customers, ensuring they are the first to benefit from new products and exclusive offers. This not only rewards their loyalty but also reinforces a sense of belonging to the CITTA community.
For Influencer collaborations, we prioritize authenticity over mere promotion. We encourage influencers to provide genuine and valuable feedback about our products, emphasizing the efficacy of our ingredients and why they are beneficial. This not only helps us reach a broader audience but also builds trust by showcasing real experiences with CITTA.
StartupTalky: What key metrics do you track to check CITTA’s growth and performance?
Tanay Sharma: At CITTA, we meticulously monitor a spectrum of key metrics to gauge our company’s growth and performance. Sales Revenue is a paramount indicator of market demand and consumer trust. Simultaneously, we scrutinize Customer Acquisition Costs to ensure efficient resource allocation, balancing outreach effectiveness with fiscal responsibility. Retention Rate speaks to our commitment to customer satisfaction, reflecting the loyalty and recurring business of our valued clientele. Conversion Rates help us understand the effectiveness of our marketing strategies, highlighting the seamless transition of potential customers into actual buyers. Inventory Turnover is a pivotal metric, signaling optimal stock management and responsiveness to market demands.
Our dedication to innovation is encapsulated in tracking New Product Performance, ensuring a pulse on market reception and adaptation to evolving consumer needs. Feedback from distributors and retailers offers valuable insights into product popularity, allowing us to fine-tune our supply chain dynamics for enhanced efficiency. Direct customer feedback serves as a cornerstone, fostering a responsive relationship with our audience and driving continuous improvement. Supply Chain Efficiency is pivotal, ensuring seamless operations from production to distribution.
Through vigilance in monitoring these metrics, we chart a course for sustained growth, innovation, and customer-centric excellence in the competitive realm of baby care.
StartupTalky: What were the most significant challenges CITTA faced in the past year, and how did you overcome them?
Akanksha Sharma: Gaining the trust of parents is the hardest task — they are the most discerning audience ever! But we support that — parents being conscious of everything they choose for their baby. Slowly, through our products’ efficacy, we have managed to gain the trust of a few thousand parents across India now, and we are only growing. Educating people about our ingredients and their effectiveness is not easy.
There are many preconceived notions and misinformation that get in the way, and we are on a mission to right those wrongs, if I may say so. We are doing this by working with doctors to make people aware of our products and their effectiveness and safety. Educating doctors about our products and the research undertaken to create them has been crucial to building people’s trust in our brand and creating demand for our products in offline stores.
StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customers engaged to stop churn? Can you share specific customer retention initiatives or loyalty programs that have proven successful for CITTA?
Tanay Sharma: At CITTA, we understand the pivotal role repeat purchases play in the success of eCommerce brands. Our commitment to customer satisfaction and loyalty is evident through our presence on various online marketplaces, including Amazon, Flipkart, 1mg, Firstcry, The Mom Store, and Kindlife, ensuring accessibility to customers across India, even in 2nd and 3rd Tier cities.
Our products’ efficacy and unique ingredients stand as our foremost strengths, distinguishing us in the competitive baby care market. We prioritize being a customer-centric brand, with the ultimate performance metric being the number of repeat customers. Our success is measured not just in sales but in the significant number of repeat customers we’ve cultivated.
At CITTA, building trust is foundational. As customers experience the proven benefits of our products, their loyalty deepens. Our commitment to quality, transparency, and personalized customer care fosters lasting relationships. This approach not only safeguards against churn but also lays the groundwork for sustained growth. As we continue to garner trust, we are confident that our community of repeat customers will burgeon in the years ahead, solidifying CITTA as the go-to choice for discerning parents nationwide.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Akanksha Sharma: CITTA has been employing omnichannel marketing from the start, unlike many other brands that begin with an online-only user experience and expand to offline channels later. We wanted our users to have the choice of interacting with the brand in the way most convenient to them, and our online and offline teams have worked together to achieve that.
With our offline marketing strategies, our products have reached multiple locations across India. Several brands focus just on tier I and tier II cities; however, we cater to locations like Ladakh, Mizoram, and Nagaland alongside tier I and tier II cities. To attract the right customers and make them aware of the brand, we focused on placing our offline advertisements where they could see them – the pharmacies and retail shops! The advertisements were designed to highlight our brand differentiators – unique, safe, natural ingredients and product formulations rooted in traditional Indian wisdom and backed with rigorous science. This not only boosted our offline sales but also generated curiosity about the brand, leading to traffic to our website.
Newspaper advertisements helped us to build this customer relationship more and reach a wider audience. An important part of our offline strategy was to build trust with doctors – pediatricians and dermatologists. They have started recommending our products to their patients. This number is steadily increasing and is helping us reach more and more physical stores in turn. It has been reassuring to see our products help babies with their skincare issues.
Our online marketing strategy has been multi-pronged as well. Here, too, our focus has been on establishing ourselves as a credible and trustworthy premium natural baby bath and skincare brand in India. We achieved this firstly by creating a brand language and identity that visually separates us from the competitors and has a great recall value. This brand identity is maintained throughout all our online channels – website, social media, and marketplaces – and has helped us cement the trust of our customers.
With our website, we have created a smooth, hassle-free buying experience. Our focus has been on ease of communication. Any customer service issues are dealt with promptly and effectively. We provide our repeat buyers exclusive offers to retain them. The website is also aimed at helping parents with their concerns regarding baby skincare; we have a dedicated space on the website that caters to this.
Our social media marketing strategies are also focused on bringing value-addition to our customers – in line with our brand ethos of being a wise grandma-like companion to new-age parents. We achieve this through a mix of engaging, community-building, promotional, and informational content. To us, bringing value to the table matters more than jumping on the flashy, short-lived trends. Our online marketplace campaigns have been designed similarly, and as a cumulative result of our omnichannel strategy, they have been getting traction from customers all across India.
We have also tapped into WhatsApp and email marketing. We run WhatsApp broadcasts and emails weekly to our existing customers with skincare tips and exclusive deals.
StartupTalky: What are the important tools and software you use to run CITTA smoothly?
Akanksha Sharma: We have a thoughtful combination of tools and software to ensure efficiency, organization, and seamless operations. We use an Inventory Management System to monitor stock levels, track product movement, and automate reordering processes. This helps prevent stockouts, reduces excess inventory, and ensures that popular products are always available. Our online presence is powered by reliable e-commerce platforms and Shopify. We use various Social Media Management Tools and Social Listening Tools. Through various Analytics and Reporting methods, we get insights into website traffic, customer behaviour, and sales performance. We also use email marketing software and WhatsApp broadcast software. Apart from that, we have a logistic management system.
StartupTalky: What opportunities do you see for future growth in the baby care and skin care industry in India and the world? What kind of difference in market behaviour have you seen within states in India?
Akanksha Sharma:
Expansion to other states- Modern Trade and General Trade: With an omnichannel marketing strategy, CITTA has been able to get sales from Tier I, II, and III cities and reach various general trade stores in Pune, Mumbai, Bangalore, and Gujarat. Now, we plan to expand to other states in India in both Modern Trade and General Trade sectors and establish ourselves as India’s best Baby Bath and Skincare brand.
Reaching doctors across India: Educating doctors about our products and the research undertaken to create them has been crucial to building people’s trust in our brand and creating demand for our products in offline stores. We want to expand our network to reach leading doctors (pediatricians and dermatologists) across India and become the brand every parent trusts for their baby’s skin.
Entering the international market as a pioneer of Indian skincare and baby care knowledge and techniques: We strongly believe that we are sitting on a goldmine of diverse natural ingredients and immense tradition-based knowledge in India. Especially so when it comes to skincare and baby care practices. What the rest of the world is only starting to appreciate and emulate is what we have been practicing in India for ages. “Maalish,” or baby massage, is a classic example. Even various Indian ingredients like turmeric have gained international recognition, which we are already using as one of the key ingredients in our products. We want to champion our Indian roots, back them with rigorous science, and bring India’s knowledge to the rest of the world with our range of products. Since our ingredients and products are made to international standards, so we want to create our own identity and presence in the international market as a pioneer Indian brand in the baby care and skincare segment.
Exploring products for adults: CITTA products have resonated with our customers because of their high efficacy. We have received positive feedback from numerous mothers. We want to build on this trust and explore products for women in the coming years. With our commitment to quality and efficacy, we are confident that we will be able to do this well.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your plans and strategies?
Akanksha Sharma: As we embark on a new year, it’s crucial to reflect on the journey we’ve undertaken in the past 12 months. At CITTA, we encountered numerous challenges and celebrated remarkable successes, each contributing valuable lessons that will significantly shape our plans and strategies moving forward. Our unwavering commitment to meeting the evolving needs of parents and caregivers has been the cornerstone of our success.
The past year has taught us the importance of staying attuned to the ever-changing parenting landscape. We’ve witnessed shifts in consumer preferences and lifestyles, prompting us to invest more heavily in research and development. Navigating the complexities of the global supply chain has been an unexpected but invaluable lesson for our team. The disruptions brought about by external factors have emphasised the need for resilience and adaptability. We’ve learned to proactively diversify our sourcing strategies, build strategic partnerships, and implement agile inventory management systems. Recognizing the growing importance of digital engagement, we have invested in enhancing our online presence, creating user-friendly interfaces, and establishing a more robust e-commerce infrastructure.
This lesson informs our commitment to further digitalization, leveraging technology to connect with our audience and provide them with a seamless, personalized experience. Consumers are increasingly seeking products that align with their values, and we have embraced this paradigm shift. Our commitment to sustainable practices not only reflects our responsibility towards the planet but also resonates with the values of our target audience.
Armed with these lessons, our roadmap for the coming year is rooted in innovation, digital connectivity, sustainability, and operational agility. We are excited to unveil a pipeline of products that not only meet the needs of today’s parents but anticipate the demands of tomorrow. Our commitment to sustainability will deepen, and our initiatives will continue to evolve to enhance customer engagement.
StartupTalky: How do you plan to expand the customers, SKUS, and team base in the future?
Akanksha Sharma: We plan to expand our customer base by reaching more states through physical stores as well as online marketplaces. We are also finding new ways of engaging meaningfully with our customer community. CITTA also envisions a future in the adult skincare and women’s beauty segments, with plans to establish experiential stores nationwide. This journey embodies the fusion of tradition and science, paving the way for a sustainable and holistic approach to skincare. With all these, we will expand our team across states.
StartupTalky: With so much hype around D2C brands spending on ads, What will be your growth strategy, organic or inorganic? How do you plan to work around SEO and content marketing?
Tanay Sharma: In our pursuit of growth, we embrace a balanced strategy, leveraging both organic and inorganic channels. Organically, we prioritize authentic content creation, aligning with SEO best practices to enhance online visibility. Simultaneously, we explore strategic partnerships and collaborations to expand our reach inorganically. Our content marketing revolves around educating parents on safe and nourishing baby skincare practices, establishing us as a trusted resource. This dual approach ensures a holistic expansion, combining the power of genuine engagement with targeted outreach to enhance our brand presence and foster sustained growth.
StartupTalky: One tip that you would like to share with another D2C founder, based on your own experience
Akanksha Sharma: One invaluable lesson I’ve gleaned from navigating the ebbs and flows of managing a D2C brand is the significance of unwavering optimism. In the dynamic landscape of entrepreneurship, where decisions carry substantial risks and can profoundly influence the fate of your business, maintaining a positive outlook is not merely a mindset—it’s a strategic imperative. What I’ve come to comprehend is that while it’s crucial to meticulously weigh the pros and cons of each decision, it’s equally essential to approach them with unwavering optimism.
I’ve discovered that cultivating a mindset that focuses on the affirmative aspects, even in the face of uncertainty, can be a game-changer. This doesn’t mean disregarding potential challenges; instead, it involves acknowledging them while actively choosing to believe in the success of your chosen path. Once a decision is made, it’s paramount to let it breathe. Dwelling on the what-ifs and second-guessing can impede progress. Instead, embrace a daily routine that aligns with your goals.
Entrepreneurship is a slow and steady journey; hence, patience becomes a virtue. Every day presents an opportunity to make strides, and it’s essential to concentrate on incremental progress rather than fixating on past decisions. The entrepreneurial path is laden with challenges, but a positive attitude can serve as a resilient shield. Trust the process and focus on the daily grind, for it is in this perseverance that the fruits of your decisions will eventually materialize. Whether it takes months or years, success often unfolds at its own pace.
StartupTalky extends its gratitude to Ms. Akanksha and Mr. Tanay Sharma for dedicating their valuable time and generously sharing their insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The manufacturing industry is a cornerstone of economic development, producing goods on a large scale through processes like assembly and fabrication. Technological advancements and automation have increased efficiency, while sustainability and lean practices are gaining importance. The sector’s growth is a key indicator of a nation’s economic strength and global competitiveness.
Contributing 16-17% to the GDP and employing 20% of the workforce, the manufacturing sector saw an 11.4% production growth in fiscal year 2022. The Indian contract manufacturing market is projected to double from $19.63 billion in 2023 to $38.92 billion by 2028.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Aditya Krishnakumar, Co-founder and CMO of Bidso. We analyzed Bidso’s development, hurdles, insights, and future strategies, exploring how Bidso is revolutionizing the manufacturing industry through innovation.
StartupTalky: What service does Bidso provide? What was the motivation/ vision with which you started?
Aditya Krishnakumar: Bidso is a contract manufacturing platform for General Merchandise goods. We make it easy and reliable for global brands to procure from Indian manufacturers. We do this by enabling the sourcing journey from start to finish, beginning with product discovery, supplier selection & vetting, value discovery, and finally, QC (quality check) and fulfillment.
Before Bidso, the founders were heading different categories & teams at companies like Flipkart, Amazon, Udaan & ITC, where it was clear that brands were finding it difficult to source products from India. Even brands that were actively looking to source from India were finding it difficult to locate reliable manufacturing partners who could provide quality products at great value.
Bidso was started to address this gap, with a vision to become an enabler and a catalyst for the Indian manufacturing ecosystem – for brands by making their sourcing journey seamless and for the manufacturing partners by enhancing their capabilities and capacities and also unlocking new sources of demand.
StartupTalky: What new features have been added in the past year? What is/are the USP/s of Bidso’s service?
Aditya Krishnakumar: We are constantly adding new features to our platform that make it easy for both our buyers and our manufacturing partners to transact.
A few examples are-
Detailed product specification breakdowns for cataloging.
Product specification comparisons.
Manufacturer dashboards and many other features.
Something that we are especially proud of is our in-house tech-enabled Quality Control Module that helps us to provide real-time QC (quality check) updates in production and pre-dispatch phases, to our buyers. This also helps our manufacturing partners to differentiate themselves from other factories by providing credible markers of quality for their products.
StartupTalky: How has the manufacturing industry changed in recent years, and how has Bidso adapted to these changes? Are there specific regulatory or technological shifts that have influenced your marketplace strategy?
Aditya Krishnakumar: The manufacturing industry has seen tremendous growth over the last few years, and the credit goes to the current government, which has been actively promoting manufacturing in India across product categories.
One of the major regulatory tailwinds that we are experiencing is the push by the government for Made in India toys. With an astute combination of tariffs and regulatory requirements like mandatory BIS certification, combined with the impetus to set up multiple toy manufacturing clusters across the country, there has been a huge fillip given to the manufacturing of Toys in India.
At Bidso, we are well-placed to contribute to the mission by manufacturing Toys in India for India & the world, and we expect the Toys category to be a major driver of growth for the company both from the domestic and international markets.
StartupTalky: How do you stay up-to-date on the latest trends and developments in the manufacturing industry?
Aditya Krishnakumar: Other than the obvious sources like news media, following the right people on X (formerly Twitter) can be invaluable as you can get direct input & latest insights on a wide range of subjects directly from people who have been there & done that. In addition, it is also important to cultivate a strong personal network & tap into it for invaluable support, wisdom, and relevant insights.
StartupTalky: What key metrics do you track to check Bidso’s growth and performance? How do you use these metrics to identify areas for improvement and guide strategic decisions for future growth?
Aditya Krishnakumar: The share of the category in Demand and the share of the category in Production are north-star metrics for us.
StartupTalky: What were the most significant challenges Bidso faced in the past year, and how did you overcome them?
Aditya Krishnakumar: We are very early on in our growth story; we were unfortunate to face the reality of losing one of our key customers, not due to any fault of our own, but due to the changing business priorities for the brand. While this was a difficult challenge, we were able to quickly step up and acquire other customers to continue driving our growth.
Another major challenge that we continue to face is hiring. The first 10-15 employees are extremely crucial when it comes to setting a good foundation for the company for future growth. We are able to navigate this by being slow, deliberate, and thorough in our hiring process.
StartupTalky: Trust among all the stakeholders is very important for a marketplace. How do you ensure it?
Aditya Krishnakumar: Ensuring trust among all stakeholders in a marketplace is crucial for its success. Some key factors to ensure this are:
Transparency: Clearly communicate policies, terms, and conditions to all stakeholders—buyers, sellers, and intermediaries. Transparency builds credibility and reduces misunderstandings.
Reliable Reviews and Ratings: Encourage genuine feedback from users and ensure authenticity by monitoring and verifying reviews. This transparency helps build trust by providing insights into the experiences of others.
Customer Support: Offer responsive and helpful customer support to address queries, concerns, and issues promptly. A reliable support system enhances trust by demonstrating a commitment to user satisfaction.
Quality Assurance: Enforce quality standards for products or services listed on the marketplace. Guaranteeing quality builds trust and credibility among buyers.
Data Privacy: Protect user data by adhering to stringent privacy policies and complying with data protection regulations. Respecting user privacy enhances trust and confidence.
Conflict Resolution Mechanisms: Establish fair and efficient dispute resolution processes. This ensures fairness in resolving conflicts, fostering trust among stakeholders.
Regular Updates and Communication: Keep stakeholders informed about marketplace updates, improvements, and changes. Transparent communication builds trust by keeping users engaged and informed.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Aditya Krishnakumar: As a B2B sourcing startup, our growth is marked on different metrics and not on the number of downloads, MAUs, or views. There are limited to no shortcuts to growth in our business. Our business only grows when we consistently and reliably deliver superior value to our buyers and manufacturing partners day in & day out.
As far as marketing strategies are concerned, we use all the typical channels, such as:
Social media platforms such as YouTube and Instagram to maximise our reach
In addition, we also rely on our own platform to consistently reach out to the relevant audience and communicate our value proposition, delivering delight to our brand partners & manufacturing partners. Most importantly, we try to ensure that our work speaks for itself.
StartupTalky: Keeping up with supply and demand is important. How do you keep both in order while ensuring a seamless experience for users?
Aditya Krishnakumar: Managing supply and demand effectively is essential for a smooth user experience in any marketplace or business. At Bidso, we try to ensure a few things like:
Develop an agile and flexible supply chain that can quickly adapt to changes in demand. Establish relationships with multiple suppliers to mitigate shortages or unexpected increases in demand.
Ensure our infrastructure, both physical and technological, is scalable to accommodate fluctuations in demand without compromising user experience. Scalability prevents system crashes or slowdowns during peak times.
Communicate effectively with users about stock availability, delivery times, and any potential delays. Transparency builds trust and manages user expectations.
Collaborate closely with suppliers, logistics partners, and vendors to streamline operations and respond efficiently to changes in demand.
Engage with users to understand their needs, preferences, and feedback. Incorporate this information into supply and demand planning to better match offerings with customer expectations.
Continuous Improvement: Regularly review and refine strategies based on market dynamics, user behavior, and emerging trends. Continuous improvement ensures adaptability to changing demands.
Flexibility and Adaptability: Be ready to pivot strategies quickly in response to unexpected changes in the market, external factors, or user behavior.
StartupTalky: What are the important tools and software you use to run Bidso smoothly? Are there any emerging technologies or tools you are considering integrating into your marketplace operations?
Aditya Krishnakumar: TheZoho suite has proved invaluable to us. Similarly, B2B prospecting software like Lusha has been of great help in helping our demand teams find and connect with the right person for the brands and accounts that we are targeting. The technology team at Bidso is a capable bunch that meets most of our requirements in-house.
StartupTalky: What opportunities do you see for future growth in the manufacturing industry in India and the world? What kind of difference in market behavior have you seen between India and the world?
Aditya Krishnakumar: The opportunities are plenty. With many global brands actively trying to de-risk their supply chain and develop multiple sources of supply, India is well poised to capture an increasing share of global trade across industries.
Market behaviour differs widely depending on the region & the economy that we are talking about. There is no one answer, or a one size fits all approach. What works in Europe is different from what works in Australia, which is different from what works in East Africa.
A more interesting question is to ask what is common across markets, and there, the answer is clear. Every market seeks a superior experience at a better value compared to what they have currently.
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Aditya Krishnakumar: Learning to fail fast has been very valuable. Embracing failure as part of growth encourages adaptability and risk-taking and fosters a culture of experimentation and creativity. Identifying failures early aids swift adjustments, enhancing market responsiveness and individual resilience. Ultimately, the approach cultivates an innovative environment by reducing the fear of failure and leveraging insights for smarter future endeavours.
Another major lesson has been to have a laser-sharp focus on the scope of our company and our value proposition. It is tempting to do many things, but it is very important to say no to a lot of tempting potential opportunities.
Going forward, we plan on continuing to experiment and doubling down on our successes while maintaining a laser-sharp focus and delivering a superior experience for all stakeholders on our platform.
StartupTalky: How do you plan to expand the customers, service offerings, and team base in the future?
Aditya Krishnakumar: We have a fairly well-thought-out plan in terms of the business growth, categories to operate in, capability building on the production side, and the kind of team we need to execute. The next year will largely see us executing this plan to ensure we get quality growth at a rapid pace.
StartupTalky: One tip that you would like to share with another marketplace company founder?
Aditya Krishnakumar: One tip for marketplace founders is to prioritize building trust among all stakeholders. Fostering transparency, reliability, and a great user experience would also be some additional factors to look out for. Cultivating trust enhances user retention, attracts new participants, and fortifies the marketplace’s long-term success.
StartupTalky extends its gratitude to Mr. Aditya Krishnakumar for dedicating his valuable time and generously sharing his insights with all of us.
StartupTalky presents Recap’23, a series of in-depth interviews where we engage with founders and industry leaders to explore their growth in 2023 and their predictions for the future.
The period care and wellness industry has expanded with eco-friendly options like menstrual cups and others. Holistic approaches, such as herbal remedies, are gaining popularity for managing menstrual health. Inclusive marketing recognizes the diversity of experiences among those who menstruate. The industry’s evolution aligns with a broader societal shift towards prioritizing menstrual wellness and sustainable choices.
Projected to experience a 5.5% compound annual growth rate (CAGR) from 2023 to 2028, the feminine hygiene market is anticipated to surge from USD 24.6 billion to USD 32.2 billion by 2028. This growth underscores a rising global awareness and demand for innovative products and solutions in women’s health and hygiene.
In a recent Recap’23 interview, we at StartupTalky had the privilege of connecting with Devidutta Dash, Founder and CEO of Lemme Be. We covered Lemme Be’s growth, challenges, lessons, and future plans. Explored how Lemme Be is impacting the period care and wellness industry with innovation.
StartupTalky: What products does Lemme Be sell? What was the motivation/ vision with which you started?
Devidutta Dash: “Lemme Be” is a new-age period care and wellness brand that focuses on bringing sustainable, organic, and biodegradable period care products to the market. The company was launched in 2020 with the vision of breaking the taboo around menstruation and promoting a sustainable and healthy period care routine for young India.
The products offered by Lemme Be are designed for teens and GenZ. They are organic and sustainable, and the Z cups, which are the highest-selling menstrual cups, as the name suggests, are for GenZ menstruators. They come in cute packaging, flaunting a lot of colors, games, and content aiming to appeal to the younger generation and answer their queries.
“Lemme Be” positions itself as a menstrual hygiene brand for all menstruators. It aims to eventually establish itself as a Global Company from India that tackles the taboo of menstruation by imparting education to the Gen Zs and Gen Alphas about period hygiene.
StartupTalky: What other products/features have been added in the past year? What is/are the USP/s of the products of Lemme Be?
Devidutta Dash:
Sustainable
Certified organic
Menstrual cups that are 100% medical-grade silicone
Inclusive content
“Lemme Be” sells sustainable, organic, and biodegradable period care products. The vision behind starting the company was to break the taboo around menstruation and bring a sustainable and healthy period care routine to young India.
StartupTalky: How has the period care and wellness industry changed in recent years, and how has Lemme Be adapted to these changes?
Devidutta Dash: Lots of positive changes in the intimate health & wellness industry. Lots of focus by the government to make period products accessible for all. India is becoming more aware of periods and associated challenges like lifestyle disorders – PCOs, PCOD, etc. The market is witnessing the entry of innovative brands, contributing to a more diverse landscape. Inclusivity is on the rise, with brands like Lemme Be introducing products tailored for teens, with products like the Z Drip Max offering period underwear suitable for larger bodies, exemplified by our XXL pads.
StartupTalky: Can you share examples of how staying ahead of industry trends has influenced Lemme Be’s product offerings or marketing strategies?
Devidutta Dash: We launched India’s first flat menstrual cup called Z Disc. This product is great for a high cervix, doesn’t get lost or stuck inside the body like a menstrual cup, and can be used for a mess-free period sex. Similarly, our entire Z range is specially curated for teens and young bodies. Our Z Cup and Baesic Cup are colorful and uniquely shaped for easy insertion and removal. Our Z Drip Max is an inclusive product and can be used by all menstruators for fuss-free & mess-free periods.
StartupTalky: What key metrics do you track to check Lemme Be’s growth and performance?
Devidutta Dash:
Customer happiness and reviews: As an Indian (made in India) brand, we wish to provide the utmost comfort to our customers. We receive some amazing feedback from our customers who suffer from various challenges like UTIs, rashes, painful cramps, etc., and our products provide them with much-needed comfort.
Maintaining quality and hygiene
Profits
StartupTalky: What were the most significant challenges Lemme Be has faced in the past year, and how did you overcome them?
Devidutta Dash: Habit shift is tough and expensive when it comes to menstrual hygiene. The Indian audience is still largely stuck on legacy brands. Introducing a sustainable product like a menstrual cup or a tampon has been a challenge; the adoption is still slow, and a significant amount of education is required to support new users in exploring these products.
StartupTalky: Repeat purchase is one of the most important parameters on which most eCommerce brands are betting. How do you keep your customers engaged to stop churn? Can you share specific customer retention initiatives or loyalty programs that have proven successful for Lemme Be?
Devidutta Dash: In today’s saturated market, young consumers exhibit lower brand loyalty. Nonetheless, Lemme Be proudly maintains a strong repeat audience across multiple platforms. The key factor driving customer retention is the unwavering commitment to quality and the promises upheld by Lemme Be and its products.
By prioritizing the development of high-quality, accessible, and inclusive menstrual care products, we have aligned our brand ethos seamlessly with our product communication. This strategic focus has resulted in a tangible impact reflected in the loyalty of our customer base. The concerted effort to deliver on our commitments has not only set us apart but has also solidified Lemme Be as a trusted and preferred choice among discerning consumers.
StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.
Devidutta Dash: As a young brand, we decided to be present and accessible to all consumers through various sales channels. We listed ourselves on Amazon, Flipkart, Myntra, Nykaa, Netmeds, 1mg, Kindlife, and all possible channels where shoppers looked for period-care & wellness products. This improved our visibility and reach to our audience. We created a brand video (our first TVC) that showcased our honest approach to periods. Additionally, our strategic partnerships and influencer collaborations played a pivotal role in expanding our outreach and resonating with our intended audience.
StartupTalky: What important tools and software do you use to run Lemme Be smoothly?
Devidutta Dash: Our workflow is seamlessly streamlined through a combination of tools and technologies. Canva serves as our creative hub, aiding in the design and visual aspects of our content. We leverage AI tools, including ChatGPT, to enhance and optimize our written content, ensuring a dynamic and engaging communication style. The backbone of our online presence is powered by Shopify, which efficiently runs and manages our website. Collectively, these tools contribute to the efficiency and innovation that drive our operations.
StartupTalky: What opportunities do you see for future growth in the period care and wellness industry in India and the world? What kind of difference in market behavior have you seen within states in India?
Devidutta Dash: There are 35 crore menstruators in India, and out of them, only 40% are using period care products. The statistics suggest that 7 out of 10 girls are scared to go to school during their periods as they are scared of accidental stains. Lifestyle disorders like PCOs, PCOD, and infertility are on the rise, and most of the products currently used by the general population are not sustainable. They are laced with plastic and chemicals. It’s only sensible for a country like ours to adopt sustainable and affordable period-care solutions to cater to our huge population. Breaking taboos and imparting education for better menstrual health & hygiene is a work in progress in India, and the bright future is bright. Globally, there has been an increase in the number of menstrual cup users, and the trend is here to stay!
StartupTalky: What lessons did your team learn in the past year, and how will these inform your future plans and strategies?
Devidutta Dash: We recognize that achieving a product-market fit hinges on fostering trust, love, and belief in our brand before consumer adoption. In this endeavor, the utmost significance is placed on the strategic alignment of content, language, and design ideologies. These elements collectively serve as the bridge between our brand and the consumer, facilitating a connection that goes beyond mere transactions. Our goal is to create an environment where customers not only feel comfortable but also resonate with the core DNA of our brand and the positive impact it strives to make.
StartupTalky: How do you plan to expand the customers, SKUS, and team base in the future?
Devidutta Dash: We are entering the sexual wellness product category. Recognizing a growing need for authentic and safe sexual wellness products among young millennials and Gen Z, we’re launching a new category for sexual health and wellness. This initiative aims to empower those seeking better, safer alternatives while promoting informed and respectful attitudes toward sexual health and sexual practices. The global sexual wellness market is rapidly growing to become a $10 billion industry, and we want to make Lemme Be a part of that growth story.
StartupTalky: With so much hype around D2C brands spending on ads, what will be your growth strategy, organic or inorganic? How do you plan to work around SEO and content marketing?
Devidutta Dash: Currently, we are focused on inorganic growth. We are focused on educating and empowering the young menstruators and retargeting our existing customers. We reached out and connected with 80 million menstruators online through performance marketing last FY. We generated 2 million units of content with the help of thousands of influencers, in-house interns, and content writers.
StartupTalky: One tip that you would like to share with another D2C founder based on your own experience.
Devidutta Dash: Offering valuable insight from our own journey as a D2C founder: prioritize achieving product-market fit with a deliberate and measured approach rather than fixating solely on rapid growth. In our experience, focusing on the efficient alignment of our offerings with market needs has proven to be a crucial step. This strategy not only lays the groundwork for sustainable success but also establishes an authentic connection with our target audience, contributing to enduring prosperity.
StartupTalky extends its gratitude to Ms. Devidutta Dash for dedicating her valuable time and generously sharing her insights with all of us.
Ria Puneyani
