Early humans figured out a way to cover their bodies to safeguard against weather. The accessories they built were named clothes. The sole purpose of this invention was to protect the naked skin from heat, wind and other normal natural phenomena.
The way we dress up today is different in different parts of the world, but the purpose has changed dramatically over the years. The purpose of clothing is not only to cover your body anymore, it is to make a style statement, to look apart from the crowd. This has led to a boost to fashion retails all over the world.
One of the most popular fashion retailers is Zara. We all have heard about it. That expensive brand whose clothes people find aesthetic and boast about it. The same brand has a unique aspect that probably no one knows about. It spends literally nothing on advertising. How cool is that? Such a big name in the industry that too without commercials. This is the article where we dissect the marketing strategy of Zara. Read on.
Zara is a Spanish apparel retailer. The company produces and retails clothing items, swimwear, shoes, perfumes and beauty. It was founded by Amancio Ortega in 1975. The age range of customers to which it caters is from 18 to mid 30s. It is also the largest brand under Inditex group. The company specialises in fast fashion. So, what is fast fashion ? The phrase denotes fashion wear that is quick, explosive and thus highly profitable in nature.
Zara is said to specialise in designing new works of fashion every now and then. It is said according to some reports that this retailer takes just about over a week to produce and get outfits to the stores. Six months is industry average. This sure provides the company a better edge on the fast fashion line of business.
How Zara is Succesful despite spending minimal on Advertising
One of the most unique things that sets Zara apart is that it spends an amount of nuts in its marketing. It has a policy of no advertising. Without advertising the brand is able to hold such a big and premium market share of the world. Here we discuss how does it do this magic.
Augmented reality shopping
Zara Shop the Look
The Spanish fashion retailer seems to leave no innovation unturned to woo customers. Zara is entailing tech into shopping, in order to create magic out of this combination. It has introduced augmented reality shopping for customers via their app.
Basically when you point at a dress at a Zara dress in their store, the sensors in the area will detect that and will show models wearing that apparel. This makes choosing a dress more easy and convenient for customers. The target audience are millennials because they are generally tech-savvy. H&M, a rival, is also trying to hold its hands on building something like this to extend customer experience, a report said.
Fast Fashion
Zara is god in fast fashion, it follows a policy of being fast without caring for who is first. Many retailers try to be trendsetters and fashion innovators, but Zara just doesn’t buy that.
Rather than working to set trends. Its work is to identify the current fashion wave and rapidly surf over it. Its main target audience is teens of 20 something who are always looking for ways to look cooler. Zara does the work for them.
Taking customer feedback seriously
We as customers may not take what we say about how we like a brand or hate someone, but Zara does. It is all ears for customer feedback. Anything you buy from the store is the beginning of a transaction with the store. The feedback they take from you is to ensure that the transaction relation remains in the future.
Anything you report is taken to higher order to build better products. Thus including customers in the designing process is such a good way to build customer loyalty. Today not the company, the customer calls the shots.
No advertising policy
Well, the real thing is that, no marketing is also marketing in the case of Zara. How you may ask? People love to buy exclusive stuff. Zara is a brand of which you will not spot a single billboard. This gives a sense of exclusivity. So this creates a chance for customers to be in the cool spot of society. It invests extensively on brand experience rather than ads.
Store locations
Zara Store
While we can say that Zara doesn’t spend on ads, one thing to look at as an exception is that it spends on locations. Rather than spend on locations it invests in them. Adding to the brand experience. Every Zara store around the globe can be found in famous crowded places. It invests in the appeal of a store, to get as many customers inside the commercial zone.
Supreme Customer Experience
Zara Customer Experience
It must be obvious by now, that Zara does everything to get customers a great experience with the brand. It consistently tries to provide more and more reasons to visit their stores again. It doesn’t just want to push their product out, they want to get the people in. They trade in value more than the product. Today’s economy consists more of experience than product.
Zara knows it well that value today is measured beyond the price. So it is super trend-tight in this manner and high on customer experience. To provide value consistently to its customers, building brand loyalty with fashion enthusiasts.
Zara is all about the customer, it can be said safely. Product used to be the king earlier but not anymore. Zara makes the customer experience the king. It knows that the product will be changed rapidly but brand loyalty is more important and constant. This is what the word “brand” actually means, it means a good image or perception in the eyes of the general public. That is built by being consistent with your value supply. Name any brand in the world, it operates with a similar idea. This is what sets someone apart from being just a different cog in the wheel of the market.
FAQ
Does Zara spend on advertising?
No, Zara does not spends big budget television commercials, internet ads or billboards.
How is Zara so successful?
The company is successful because it has a phenomenal operating supply chain and manages its inventory well.
How does Zara advertise?
Zara uses anonymous models to advertise their clothes.
There are over 2775 billionaires present in the world and with a total net worth of $13.1 trillion. The country that tops the list of most number of billionaires is the United States of America. The number of billionaires may seem less in a world where billions of people exist but these few have created businesses that made them who they are today; It has also changed the outlook of all those industries from where they came from.
These people turned their ideas into successful businesses and are now earning billions of dollars. All these are not that easy, one needs to be the best in their field for that.
You may find billionaires in almost every industry, but there are some that have given the world a larger number of billionaires who are out there ruling it. What is intriguing is that even during the pandemic, the wealth of billionaires has increased over an average of 27% in many industries.
In this article, we will talk about the industries that have given the most number of billionaires to the world. So let’s get started.
“The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”
The top position is taken by the industry of technology in this. Some of the data suggest that 70% of the top 10 richest people belong from the technology industry. It is in the first position because of evident reasons.
Technology serves us with the solution for almost any kind of problems and has taken the responsibility to make our life easier. It is quite evident that with new innovation every day, the tech industry will provide the world with more billionaires in the future.
Top billionaires in the tech industry
Jeff Bezos (Amazon)
Elon Musk (Tesla, Space X)
Bill Gates (Microsoft)
Mark Zuckerberg (Facebook)
Healthcare
The pandemic was a severe boost to the healthcare sector and has worked as a boon for many healthcare companies. Vaccine producers, diagnostic test producers saw immaculate growth in their business. Since 2020, the healthcare industry is surging at a tremendous pace and with the current condition, it seems unlikely to stop.
The strike of Covid-19 proves how health is a prime factor in human lives and without it; everything will just become a façade. The global healthcare industry is ready to reach over $10 trillion by 2022.
Top billionaires in the Healthcare industry
Jiang Rensheng & family (Chongqing Zhifei Biological Products)
Li Xiting (Mindray Bio-Medical Electronics)
Zhong Huijuan (Hansoh Pharmaceutical)
Xu Hang (Mindray Medical)
Finance And Investments
There are reports that state that the most number of billionaires in modern times comes from the Finance and investment sector. The business of money has been quite a success in the recent era. The money made by the people even the billionaires are managed by financial institutions. Whenever people transact money they take help from these financial institutions, so it is quite probable that this sector comes in the list of the top 10.
The entire world economy depends on financial institutions. Fintech startups are taking the world in storms and these industries would use the opportunity to create more billionaires in the future as they are the root of the economy.
The production of goods with the help 0f machines, tools as well as labor from raw materials is one of the most important sectors, as almost every creation depends on this. It is said to be the driving force since forever.
The growth of a nation immensely depends on the manufacturing sector. The manufacturing sector has seen a huge surge even during the Covid-19, this sector has over 300 billionaires in the world.
Top billionaires in the Manufacturing industry
He Xiangjian (Midea Group)
Fashion and Retail
Clothes are another significant necessity in human life. The fashion and retail industry focuses on making clothes. It is a $2.5 trillion industry and deals with luxury apparel brands. Fashion startups are also making noise in this sector and are on the verge of producing more and more billionaires in the future. There are 273 billionaires in the world in this industry.
Top billionaires in the Fashion industry
Bernard Arnault (LVMH)
Amancio Ortega (Inditex)
Phil Knight (Nike)
François Pinault (Kering)
Food And Beverage
Over 7 billion people exist in this world, so naturally, food must be provided to all of them. The number is only going to increase in the future; therefore the growth of this industry is inevitable. This sector till now has successfully contributed in the list of industries that have given us the most number of billionaires.
All other things can wait but for the survival of a human being, food and beverages are the most significant things. The food and beverages industry has over 219 billionaires from all over the world and it is only going to increase in the future.
Top billionaires in the Food and Beverage industry
Zhong Shanshan (Nongfu Spring)
Giovanni Ferrero (The Ferrero Group)
Qin Yinglin & family (Muyuan Foodstuff Co.)
Jacqueline Mars (Mars Inc.)
Real Estate
It is said to be the oldest source of creation of wealth. It is also said to be an open industry where anyone can be a part of it who are interested to. People who are already billionaires and are wealthy also show their interest in investing in the real estate industry, as it is considered as one of the most profitable sectors. There are over 215 billionaires in this sector.
Top billionaires in the Real Estate industry
Lee Shau Kee (Henderson Land Development)
Hui Ka Yan (Evergrande Group)
Yang Huiyan & family (Country Garden Holdings)
Wu Yajun (Longfor Properties)
Hospitality Industry
It is another important form of industry that has given quite a number of wealthy people. Providing the guests with home-like services is one of the main factors of this industry. Food, comfort, entertainment, and lodging are all included in this sector. The global hospitality market is expected to reach $4132.5 billion by the end of 2021.
Top billionaires in the Hospitality industry
Sheldon Adelson (Sands Hotel)
Donald Trump
William Barron Hilton (Hilton Hotels & Resorts)
Phillip Ruffin (Ruffin’s hotel)
Renewable Energy
Climate change is a serious factor in the world, right now. Saving the world has become a necessity, thanks to this industry some of the billionaires are able to make tons of money and become a savior as well. The energy market is coming out slowly and is on verge of becoming one of the most important sectors in the near future. It has given the world over 180 billionaires.
Top billionaires in the Renewable Energy industry
Elon Musk
Robin Zeng (Amperex Technology)
Aloys Wobben (Enercon)
Li Zhenguo (LONGi Green Energy)
Entertainment and Media
The entertainment industry is a very big part of the world economy. Digital media technology has started helping people make big in this industry. There is a need for entertainment in life, especially during the Covid-19 lockdown, this sector helped people to avoid boredom. Dramas, films, music all these are the source of entertainment. This sector has 95 billionaires and more in the making.
Top billionaires in the Entertainment and Media industry
Being a billionaire is not an easy job, one needs to have patience, perseverance, and the will to do hard work. Some of the industries are recently on-trend and have provided the world with the most number of billionaires. It doesn’t mean that it is easy in these industries to make tons of money, in fact, it is quite hard and challenging.
FAQ
Which industry produces the most billionaires?
Technology industry is one industry that produces the most billionaires.
Which Industry creates the most millionaires?
The financial service sector has the most number of millionaires.
What jobs can make you a millionaire?
Professional athlete, Investment banker, Entrepreneur, and Real estate agent some of the industries that can make you a millionaire.
There is a unique kick in Unboxing something new, a new gadget, a new parcel because it has a sense of surprise in it. India is a country of festivals and we absolutely love to shop but have you ever wondered how these goods are made ? How do they land in the package ready to be used ? How are we able to get dreamy-deals that save us money ? There is a lot of behind the scenes of making a product, packaging the value in a box.
In a world as fast as ours, we tend to forget the process and focus mainly on the outcome. This article talks about a product process and how a brand manages to save costs with countries with cheap labour. We will also discuss Pakistan as an emerging nation with cheap labour.
It is said that Labour is handicapped without capital, and our capital is handicapped without labour. The word labour has direct relations with inputs that we put in to get some final product.
Labour can have many dynamics like mental, physical or social efforts that are required to manufacture something. Essentially on the basis of skillset, labour are of two types – Skilled, Unskilled and in some cases even Semi-skilled.
As the name suggests they are categorised on the basis of skills and training required to make them work effectively. Unskilled labour is the cheapest form of labour and is required to do work that does not require any sort of training.
Global sourcing of Labour
The initial motive of global sourcing of labour is cost savings. With the progress of globalisation, product differentiation in contemporary markets is not that remarkable anymore, to some extent, which leads to a greater emphasis being placed on price competition.
This has especially been the case with consumer products. Besides cost savings, plenty of studies have also identified quality and availability as critical aspects for global sourcing
Cheap Labour and its History
In every society around the globe, employers try to follow the downward trend of cost of labour. Thus, saving themselves the most capital. They pinpoint some stratum of people who are the most vulnerable and employ them with low wages.
This topic can go further to the ‘apartheid’ faced by the South Africans in contrast to white population. Their wages were as low as one-fourteenth of white counterparts even when they comprised around 80 percent of the total population.
Government implementing racist policies, commended employers with greater power over this section of workers. Which in turn employed discrimination among the general public.
Another method employers follow is ‘De-Skilling’ which means to eliminate a skill that is required for a job. Making it easy for a worker to be replaced. This drives down labour cost.
New technologies are also a way to increase competition among workers resulting in less wages. This makes the labour cheap and employers end up with more surplus. These are the usual cases in the world of manufacturing but there are some more natural ways on how labour can be cheap.
Factors like economic development, growth of a nation and per capita income of citizens of the country matters in determining the cost of labour. China has been a global player.
China: The world’s factory
China is considered as a factory for the whole world, the reason being the huge population and cheap availability of labour. This trend was followed for a long time and now it is up for a spin. The world demographics are changing and we are witnessing a downward trend in the employability of labour, the prime reason is rising labour costs.
Due to rising demands of people and rising cost of goods, China is not prized as the ‘cheapest’ country to produce goods anymore. Moreover this phenomenon has led some foreign countries to exit the country and find their nest somewhere else. There are several reports on how the trend is moving.
According to one Report, it is observed that hourly rates in Mexico are lower than that of China. This might not be good news for monopolist China but it is surely good for developing countries where labour is relatively low.
Cheapest Countries in Asia
When the world’s factories are becoming a little expensive, the biggest players in the manufacturing sector are looking for a shift. The new home should obviously be cost effective. To answer this question satisfactorily, we will have to look through a lens of cost. The cheapest countries in the largest continent of the world i.e. Asia are listed below –
India
Pakistan
Nepal
Sri Lanka
Included a Forbes article. This essentially shows where the manufacturing giants could move their base to. The list coincides with the trends that we see every other day, like Tesla coming to India, Apple pondering over ideas to start a manufacturing unit in India, Pakistan becoming the next hub for cheap labour in the world and much more. These are the hotspots where new industries are eyeing for better sustainability.
The land of Pakistan
Pakistan is the fifth most populous country in the world with a population of over 200 million. These statistics make it an important player in the world. Several studies have concluded that the country entails a good number of workers and manpower. With these numbers we can safely say that the country is rich in workforce.
Is Pakistan the new heir?
A populous country as Pakistan with abundance of labour seems a good choice for industries all over the world. The abundance can be a signal of cheap labour that can be used to produce goods and services with ease and with better efficiency.
Salman Shah of ‘Taskforce on Textile’ during the TEXPO-2019 seminar mentioned that a recent survey concluded that the labour unit in their work in this domain is much cheaper than that of the dominant China. The textile expo (TEXPO) also witnessed clothing brands‘ total presence and active participation during the event.
Moreover, rather than dismissing it as an impediment, we can use this unique aspect as a benefit for our nation. He also mentioned that this trait can become very useful when we talk about China-Pakistan economic corridor projects. Cheap labour in Pakistan can help build a soft spot for the country in the world where it already faces other economic and relational issues.
What is digital labour? How is it different from online labour ? these questions might be popping in your head. The funny thing is that it is easier to understand. There is a famous quote that goes like this – “Software is eating the world”
Almost all people on this planet are witnessing this (Except fewest of third world places) phenomena. We live in a digital era and we work digitally. You are reading this blog on a mobile or other device digitally. So you can easily see the blanket of technology that the world is wearing right now. It’s beautiful and gives us a sense of abundance.
Examples of digital labor might include on-demand platforms, micro level of working and data generated by users of digital platforms like our favourite, social media. Digital labor generally describes work that entails a variety of online tasks. If a country has the structure to maintain this kind of digital economy, then this form of labour can incubate income for citizens without the limits of physical obstacles.
Christian Fuchs cites that of the world’s 2,000 largest transnational corporations 11.6% fell under the umbrella of communications and digital media. Tech companies like Google, Amazon, etc. are shaping the economy in exciting ways.
Pakistan and Digital Labour
Online Labour Supply
A report by the International labour organisation concluded that Pakistan already is the third largest provider of labour for digital or online platforms globally. The report also mentioned that India is the biggest labour supplier. Digital labour can be categorised in two types, location based and online web based.
The web-based platforms are defined in which tasks are performed online or remotely by workers without being physically present. “These tasks may include translation, legal work, financial and patent services, designing and software and freelancing.
Location-based platforms on the other hand are those done in person in specified physical locations by employees. These can include taxi driving, delivery services and home improvement (plumber or electrician), domestic labour and caretakers.
Conclusion
We are witnessing a decline in the Chinese empire of cheap labour. This is true for sure. While companies search for alternatives for meeting their manufacturing demands, Pakistan is going to be seen.
On the other hand, India is a big player and it will shine in the search of manufacturers to find a better place. However, the filter of cheap labour is sharp enough to cut India from the picture and put Pakistan in the spotlight. Who will rule this industry is hard to say because there are a lot of variables involved.
Variables like globe conditions, Pakistan’s relations with the world and need shifts of brands. We live in a beautiful world of change and numerous probabilities. We can study numbers to tell a story but the reality may unfold in its own fashion.
FAQ
Is China still the Low Labour cost country?
No, due to the rising demands of people and the increase in the cost of goods, China is no longer regarded as the ‘cheapest’ country to manufacture goods anymore.
Is Indian Labour cheaper than China?
The hourly wages in India are five times less than in China.
Can Pakistan become the next cheap labour country for the world?
Yes, Cheap labour force in Pakistan can help attract foreign industrialists.
In today’s VUCA world you need to develop a lot of skills in order to stand out. The present world does not function as it was ten years ago. Today it does not matter if you got a degree or not. Skills are the most important thing in today’s world. It is an asset that will enhance your career. Today a lot of students are confused and want to know about the top skills required to get a good job.
In this article, we will be talking about a number of skills which is required in the present time. All these skills will also help you immensely in your entrepreneurial journey too.
Now when it comes to skills there are two types of skills. There are hard skills and soft skills. Both hard skills and soft skills are important. In this article, we will look at the prominent hard and soft skills.
Top 5 Essential Hard skills to include in your Resume
1. Digital Marketing:
Digital Marketing
Digital Marketing is one of the most in-demand skills in the present world. After the pandemic, almost all the businesses have shifted online. There are a number of businesses that do not know exactly how to bring their businesses online, you can help them in this area. Apart from that, there are also a number of jobs in this field. Digital marketing has a huge scope.
2. Cyber Security:
Cyber Security
Cyber security is another skill that can make you rich. With the rise in the digitization of almost every asset, security is going to be a big issue. As we know many companies getting breached, cybersecurity is one of the most essential skills in today’s world. Also, with the rise in technologies like AI and Blockchain, security will become a more complex and sophisticated thing in the future. This is a huge discipline and you can choose your own special niche.
3. AI & Machine Learning:
AI and Machine Learning will penetrate almost every industry in this world. Many of the apps in your smartphone already have machine learning and AI in them. A lot of devices also have AI & Machine Learning in them. This is a skill that has an immense amount of scope in the future. There is also a job opportunity for this. You can also do freelancing to cater to larger people.
4. Blockchain:
Blockchain is a field that is still underexplored. This field has limitless scopes. From microfinance to data security, Blockchain has its utility in the modern world. There is a huge shortage of blockchain professionals in this field and so the market now requires a huge number of marketing professionals.
5. Animation:
Animation is one skill that is hugely in demand but many do not mention it. Almost every brand requires an animation professional to enhance its impact. Animation has several more applications in different sectors.
Top 9 Essential Soft Skills to include in your Resume
Here are some of the top soft skills required in 2021.
1. Communication:
In any kind of place, communication matters the most. Today it is seen that the people who hold higher posts are the ones who can communicate better. When your communication is strong, you can express complex messages and solve complex issues. Your leadership is directly proportional to how well you communicate.
2. Creativity:
Creativity is another very important thing you need in your career. In real life, you will face a lot of problems. In order to solve these problems, you need to tackle these problems creatively. This is why creativity is very necessary.
3. Strategic Collaboration:
In any organization, you cannot do everything by yourself. This is why you need to collab strategically in order to perform any required task.
4. Self-motivated:
Every organization wants an employee who is self-motivated and does not require any push. This is why self-driven people are much more preferred than other people.
5. Positive Mindset:
A positive mindset is very necessary for today’s industry. In today’s corporate world, where there is huge competition you might not be able to survive without a positive mindset.
6. Multitasking:
Multitasking
Multitasking is very essential in today’s world. If you cannot manage your tasks properly then you cannot achieve success. So you need to be really adept at multitasking.
7. Time Management:
Time Management
Another very important thing you should master is time management. Time Management enables you to do a lot of things in a more efficient way. It increases your efficiency to a great extent.
8. Adaptability:
A big thing that makes you excel in your ability to adapt to any new organization. Adaptability makes you stand out in the crowd. This will ultimately help you in your promotion.
9. Problem-solving:
A important thing in your professional life is the ability to solve problems. Problems are inevitable but you need to have a solution-based mindset. This is why it is very necessary.
Conclusion
These are some of the most essential skills you should have in order to excel in your life. The skills listed here will have a huge amount of growth in the future. These skills will help you prosper in your corporate life as well as your entrepreneurial venture. You can start with the one which is easy for you to start learning and then move on to the other ones.
FAQ
What are the top job skills to include on a resume?
Computer skills, Leadership experience, communication skills, and Problem-solving abilities are best job skills you should include in your resume.
What are things a resume must have?
Contact information, Career summary, Job objective, Awards, Recognitions, and industry training are things a resume must have.
How should you list your skills on a resume?
You should list your relevant hard skills throughout your resume, such as professional summary, skills, work experience, and education.
The beauty business is a multibillion-dollar sector that has shown to be resilient in the face of adversity, and the top 9 cosmetics companies listed below have been at the forefront of the global cosmetics market for decades. The beauty business grew from 483 billion dollars in 2019 to 511 billion dollars in 2020, and by 2022, it is anticipated to be worth 429.8 billion dollars. As beauty trends reach new heights and the sector becomes one of the most valuable enterprises in business, the global cosmetic industry will expand at a CAGR of 4.3 per cent by 2022. Without further ado, let us look at the best cosmetic brands in the world in 2021.
Here are some of the top companies that produces and provides best cosmetic brands to the world.
Johnson & Johnson
Johnson & Johnson – best cosmetic brands in the world
A multinational firm based in the United States, Johnson & Johnson was founded in 1886. It is the world’s largest cosmetics company and ranked first on the list of the top cosmetics companies by revenue in 2020. Johnson & Johnson is based in New Jersey, United States.
Johnson & Johnson is a healthcare giant. Prescription and over-the-counter medicines, orthopaedic implants, surgical supplies, and home items are all included. Johnson & Johnson also covers skincare, dental care, and infant care items.
Aveeno, Neutrogena, Listerine, and Johnson’s Baby are among the company’s most well-known brands. Johnson & Johnson has been linked with several baby products, including oil and shampoo.
The U.S. Food and Drug Administration (F.D.A.) approved an Emergency Use Authorization (E.U.A.) in February 2021 for Johnson & Johnson’s single-dose COVID-19 vaccine, which was developed by Janssen Pharmaceutical Companies to prevent COVID-19 in people aged 18 and up. Johnson & Johnson is expected to deliver 20 million doses by the end of March 2022 and 100 million injections in the first half of 2022 to the United States. The firm made 82.06 billion dollars in 2020.
Procter & Gamble
P&G – best cosmetic brands in the world
Procter & Gamble is one of the most lucrative personal care corporations in the United States. Procter & Gamble, based in Cincinnati, Ohio, is a significant player in the skincare and haircare industry, with brands such as Pantene, Herbal Essences, Gillette, Aussie, Olay, Head & Shoulders, Ivory, Old Spice, Secret, Crest, Scope, Oral-B, Safeguard, Art of Shaving, and others. For men and women and newborns and children, the firm offers a comprehensive selection of beauty and personal care goods. Procter & Gamble had a revenue of 67.7 billion dollars last year, making it the world’s second-largest cosmetics business by sales in 2020.
Unilever is a global consumer products business based in London, England, and is a joint venture between the United Kingdom and the Netherlands.
The firm focuses on cleaning agents, beauty goods, and personal care items in the cosmetics industry. In addition, the company’s other sectors include food, energy drinks, ice cream, and tea goods. Unilever has carved a niche with prominent cosmetics brands including Dove, Axe/Lynx, Pond’s, Close-Up, Vaseline, TRESemmé, Suave, Lifebuoy, and Sunsilk for itself in the cosmetics market. Customers worldwide have been snapping up Unilever’s culinary goods, such as Knorr quick soups, and cleaning supplies brands, such as Domestos bleach, as a result of the epidemic. In the year 2020, the company’s yearly revenue was 58.03 billion dollars.
Kao
Kao – best cosmetic brands in the world
Kao firm is based in Japan and provides a wide range of cosmetics, including colour cosmetics, skincare, face and body cleansers, and hair care products. The company produces cosmetics, edible oils, hygiene, fatty chemicals, laundry and cleaning goods, and speciality chemicals. Bioré, Goldwell, John Frieda, and Jergens are some of the company’s well-known brands. As of 2020, Kao is Japan’s most prominent cosmetic production firm. Kao is expected to produce 14.7 billion dollars in 2020.
Estée Lauder is a prominent manufacturer and marketer of high-quality skincare, cosmetics, fragrance, and hair care products around the globe. Estée Lauder is one of the most well-known cosmetics businesses in the world today, continuing to break new ground in the worldwide premium cosmetics industry. Estée Lauder, Dr Jart+., La Mer, Bobbi Brown, Tommy Hilfiger, Tom Ford Beauty, and M.A.C. are just a few of the company’s brands that are distributed in over 150 countries and territories. The firm made 13.68 billion dollars last year.
Shiseido
Shiseido – best cosmetic brands in the world
Shiseido is a Japanese multinational personal care firm that manufactures skincare, cosmetics, haircare, and fragrances. Shiseido was established in Ginza, Tokyo, in 1872 as Japan’s first Western-style drugstore.
Shiseido has a cosmetics collection named “The Makeup” that includes lip products, eye shadows, eyeliners, mascara, foundations, concealers, and blushes, among other things.
They also put much money on good packaging for all of their items, making their product lines more attractive to the eye. Za, Shiseido, Anessa, Bare Essentials, Senka, Nars, and Sea Breeze, are just a few famous brands. It made 9.9 billion dollars in 2020.
Coty Inc.
Coty – best cosmetic brands in the world
François Coty started Coty Inc., an American international cosmetics firm, in 1904. The firm sells a variety of personal care items, including skincare and body care.
Nivea, Eucerin, Labello, Florena, and La Prairie are some of the company’s most well-known brands. The firm made news in 2019 when it paid 600 million dollars for Kylie Cosmetics and again in June 2020 when it paid 200 million dollars for a 20% share in K.K.W., a brand controlled by Kim Kardashian West. Coty Inc. made 9.4 billion dollars in revenue last year.
Beiersdorf
Beiersdorf – best cosmetic brands in the world
This German multinational corporation produces and distributes a wide range of personal care products and pressure-sensitive adhesives. Coppertone, Elastoplast, Labello, La Prarie, Eucerin, and Nivea are some of the company’s most well-known brands.
Beiersdorf serves a wide range of demands and operates in various areas, including mass market, dermo-cosmetics, and premium cosmetics. In 2020, the firm earned 8.9 billion dollars.
AmorePacific
Amore Pacific – best cosmetic brands in the world
Amore Pacific is a South Korean cosmetics manufacturer. In 2002, the business created the AMOREPACIFIC cosmetics line. The firm concentrates on producing natural beauty products and has quietly built a reputation in the market, taking advantage of the recent K-beauty boom.
Dantrol, Vital Beautie, Aestura, Mamonde, Fresh Pop, Espoir, Primera, ILLIYOON, Laneige, Makeon, Etude House, MIRAEPA, Odyssey, and others are among the company’s most well-known brands.
Amorepacific has 5.5 billion dollars in revenue in the year, making it one of the world’s top cosmetic producers.
FAQs
Which are the top companies with best cosmetic brands in the world?
Top companies with best cosmetic brands in the world are:
Johnson & Johnson
Procter & Gamble
Unilever
Kao
Estée Lauder
Shiseido
Coty Inc.
Beiersdorf
AmorePacific
Which are the top cosmetic brands in India in 2021?
Simplilearn is one of the leading certification training providers whichprovides online professional courses in disciplines such as Cyber Security, Cloud Computing, Project Management, Digital Marketing, Data Science, AI, and Machine Learning, and many more.
Simplilearn won the 2021 Stevie Silver Award for Customer Service Success for the fourth year in a row and fifth time overall.
Let’s see how it caters to the training needs of professionals and earns money. The article covers:
Highest Paying Certification Course of Simplilearn
About Simplilearn
Simplilearn was founded by Krishna Kumar in 2009 with the purpose tohelp professionals and enterprises to succeed in the fast-changing digital economy. The company provides outcome-based online training across digital technologies and applications such as Big data, Machine learning, AI, Cloud Computing, Cyber Security, Digital Marketing, and other emerging technologies.
About Simplilearn Founder – Krishna Kumar
Krishna Kumar | Simplilearn | CEO
Krishna Kumar completed his Bachelor of Engineering degree from NIT, Suratkal, India. Before Simplilearn, Krishna was the Co-founder and COO at Tech United, a software product company which he exited successfully in 2007 after selling it to a publicly held company. Initially, Simplilearn was started as a technology blog. Later, it became a professional learning startup for project management-related topics.
Simplilearn – Area of Operation
Simplilearn is based in San Francisco, Raleigh, North Carolina, and Bangalore, India Simplilearn has helped more than two million professionals and 2000 companies across 150+ countries to get trained, acquire a certificate, and reach their business and career goals.
Simplilearn – Key Products and Services
Simplilearn, an online learning platform, began with a project management certificate called Project Management Professional Certification.
After 4-5 years, it manages to get big and enter into different sectors like IT, management, business analysis, banking, and data analytics.
In 2011, Simplilearn started to offer additional courses across categories like cybersecurity, cloud computing, project management, digital marketing, and data science. Simplilearn now offers online training, blended classroom training, and exam practice tests in over 400+ courses across 11 major categories.
Its most popular courses are Artificial Intelligence (AI), data science, digital marketing, project management, cloud, and DevOps.
The companies’ high engagement curriculum includes self-paced online learning, instructor-led live virtual classrooms, hands-on projects, student collaboration, and 24/7 global teaching assistants.
Simplilearn has seen a 200% growth in demand for Programming Courses and with that, it has launched a three-pronged approach to take on the goal of training and placing 10 lakh programmers in India by 2023.
Simplilearn – Target Consumers
Simplilearn focuses on students and working professionals. It has a paying customer base of over 3 lakhs.
Krishna Kumar says “We help in providing a learning machine and help you identify if that’s the right fit for you. Maybe there’s something else that is most relevant for you and once you’ve decided, our instructors will teach you. And while you’re learning that topic, you can interact with fellow students and the instructor, and do a lot of practice. Our teaching assistants are available 24/7.”
Business Model of Simplilearn
It bridges the gap between the educational institutions and the candidates to gain the best knowledge and proficiency. The courses that are offered by Simplilearn, are certified by Purdue University and IBM. It offers both free and paid courses.
The candidates who are interested in the desired course need to register first by creating an account on Simplilearn. Then, to avail paid courses they have to pay the fee.
It’s70% of domestic business comes from cities like Delhi, Mumbai and Bangalore. In 2019, Simplilearn signed a Memorandum of Understanding (MoU) with National Skill Development Corporation (NSDC) to upgrade their digital skills.
33 courses available in Simplilearn are accredited by NSDC making it a key contributor to the government skill program. The company’s main focus is to get deeper into categories that are going to dominate the tech space which includes cloud, data science, machine learning, and artificial intelligence. Simplilearn derives 30% of its business from reskilling and upskilling different enterprises.
What’s unique about Simplilearn?
The thing that makes Simplilearn different from its competitors are:
Good structure program and excellent lesson plans.
Availability of exclusive hackathons and Ask Me Anything sessions by IBM.
Capstone from three domains and 25+ projects with industry datasets from Amazon, Uber, Comcast, etc.
Job Placement Assistance.
How does Simplilearn make money?
Simplilearn claims around 60% of its revenue come from overseas markets. Revenue is collected from the candidates after the completion of the program for their certificates. It also earns by charging instructors a fee for every course sale made on its platform.
For the enterprise business deals, Simplilearn receives money from the early-stage startups like Myntra, Swiggy, and Flipkartwho use the platform to train their employees. Simplilearn works as B2B(Business to Business), as well as It, operates on a B2C(Business to Consumes) basis.
Simplilearn Social Media (06 Nov 2021)
Facebook – 3,63,323 people like this
Instagram – 58,068 Followers
Twitter – 28,991 Followers
LinkedIn – 2,77,984 Followers
Youtube – 1,480,000 Subscribers
Conclusion
During the pandemic, the demand for online education has already increased, thereby, increasing the demand for edtech companies. Taking this as an opportunity, Simplilearn comes forward to widen the scope for students and professionals by adding more courses that match the need of its target audience. It carries a strong and effective business model that helps individuals to acquire the skills they need to thrive in the digital economy by providing certification courses.
FAQs
What is Simplilearn?
Simplilearn is an online platform that provides professional certification courses on topics like Cyber Security, Cloud Computing, Project Management, Digital Marketing, and Data Science.
Indians are fixated on the startup culture. People are choosing entrepreneurship over mundane, 9-to-5 jobs. However, not everyone succeeds as an entrepreneur. A survey revealed that approximately 11% of the Indians are engaged in ‘early-stage entrepreneurial activities’. And only 5% of these early-stage entrepreneurs actually went on to establish their startup.
But keeping these statistics aside, some Indian startups have gone on to dominate their target segments. This post is dedicated to some of the most successful entrepreneurs from India whose ventures have revolutionized the daily life of millions, if not billions, across the globe. The path to name and fame wasn’t easy for them; it involved several trials and tribulations.
Ritesh Agarwal founded OYO rooms in 2015. He was the recipient of the TiE – Lumis Entrepreneurial Excellence Award (2014), became the first Asian to win ’20 under 20’ Thiel Fellowship (2013), was named one of the top 50 entrepreneurs by TATA First Dot Awards (2013) and became the world’s youngest CEO at the age of 17. Ritesh Agarwal, an Orissa boy coming from a business-oriented family, went to Kota to become an engineer.
But unlike other JEE aspirants, his passion caught hold of him and he did not take JEE preparation seriously. Instead, he wrote a book called ‘Indian Engineering Colleges: A Complete Encyclopedia of Top 100 Colleges’; the book became immensely popular on Flipkart.
He was just 16 when he was selected for the Asian Science Camp held at the Tata Institute of Fundamental Research (TIFR). With a penchant for traveling and having lived in tons of hotels, Ritesh observed a common problem at the places he stayed – the exorbitant price of the hotel room was not proportional to the facilities provided. He felt that majority of the hotels in India couldn’t satisfy the basic needs of a traveler on a budget.
Thus, he started Oravel Stays,his first venture in 2012. He improvised his business model and re-launched Oravel as ‘OYO’ which is short for ‘ON YOUR OWN’. Ritesh Agarwal became one of the most revered Indian entrepreneurs through OYO. At the age of 26 he became a billionaire.
Net worth of Ritesh Agarwal as of now is $2 billion. He became the second youngest billionaire after Kylie Jenner in the world.
An epitome of courage and wisdom, Shradha Sharma was at the top of her career while working with famous news media houses such as Times of India and CNBC (Mumbai). During her stint with these organizations, she noticed that no one was willing to promote and air the stories of entrepreneurs—both successful and not-so-successful. She figured out that there are millions of stories storming around but no medium to share them with the masses. Shradha decided to create YourStory, an online portal that hosts entrepreneurial stories and other share-worthy content.
YourStory was started in 2008 and has allowed over 70,000 stories to come to the fore. Shradha Sharma leads a team of 100+ people who work together to offer content in 11 Indian languages. YourStory’s aim is to provide a voice to the roller coaster of emotions that an entrepreneur goes through. Shradha Sharma is the recipient of the L’Oreal Paris Femina Award and has been included in the list of Worlds’ Top 500 LinkedIn Influencers. She is one of the most followed female entrepreneurs in India. Her channel has earned more than 26 million individual views.She is one of the most followed female entrepreneurs in India.Her net worth is of $1.3 billion.
Bhavish Aggarwal, an IIT Bombay alumnus, co-founded the most popular cab aggregator in India – Ola Cabs – with Ankit Bhati. He is the recipient of the Billionth award in 2013, Best startup of the year by IAMAL, and was listed in Forbes30 under 30 list. Bhavish revolutionized the idea of cab-hailing in India by making use of smartphones. Ola Cabs was different from the other cab services at that time in the sense that it leveraged smartphones and GPS technology; thus, it became easy for people to book cabs from anywhere, at any time. Bhavish Aggarwal left a well-paying job at Microsoft to work on Ola Cabs. No one supported his idea but it was his strong will, determination, and eagerness to take risks in life that led him to the pinnacle of success. Bhavish Aggarwal is counted amongst the most successful Indian entrepreneurs. According to Time magazine Bhavish Aggarwal is one of the 100 Most Influential People this year. His Net worth is $ 500 million.
Vijay Shekhar Sharma is the founder of Paytm, the cornerstone of digitized payments in India. Vijay is from Aligarh, India. A graduate of the Delhi College of Engineering, Vijay worked on several projects and at a small startup before taking the entrepreneurial plunge. He put in USD 2 million to get One97 up and running. One97 is the parent company of Paytm. The payments platform gave Indians access to a mobile wallet, the facility of making payments using QR codes, simplified bill payments, and a lot more. These features made Paytm wildly popular. In this manner, Vijay Shekhar Sharma became an inspiration to budding entrepreneurs all over the globe. He Won the Best Serial Entrepreneur Award at the Rural and Urban Development Summit and Awards 2022 presented by the Minister of State for Ministry of Housing and Urban Affairs, Government of India.
Deepinder Goyal and Pankaj Chaddah, founders of Zomato
Deepinder Goyal and Pankaj Chaddah revolutionized the food delivery segment in India through its first foodtech unicorn Zomato. The duo are IIT Delhi graduates. Zomato started out as ‘Foodiebay’ and was first launched in Delhi. It was later extended to Mumbai and Kolkata. Now, there is not a single place in India where Zomato doesn’t render its services. Zomato’s mobile app is its USP; the app has an excellent user interface that lets you order food from the restaurant/eatery of your choice and make hassle-free payments. In Jan 2020, Zomato acquired one of its competitors- Uber Eats in India for a valuation of $300 million. In July 2022, Zomato went public with its stock listing at a premium of 53% over its issue price and it commanded a market cap of Rs 43,000 cr as of Mar 2023. In 2018, Prakash Chaddah left Zomato to venture into different fields. Net worth of Zomato CEO Deepinder Goyal is estimated to be Rs 2,000 cr as of Mar 2023.
Kunal Shah graduated with a Bachelor of Arts degree in Philosophy from Wilson College, Mumbai, and briefly pursued an MBA from Narsee Monjee Institute of Management Studies before dropping out. Shah’s first startup was a company named Paisaback, which provided cash-back promotions for organized retailers. Kunal Shah and Sandeep Tandon are the founders of one of India’s most innovative business models – Freecharge. CRED is Shah’s second venture after he sold Freecharge to Snapdeal in 2015 for $400 million. He is definitely one of the most famous entrepreneurs in India.
Binny Bansal and Sachin Bansal, founders of Flipkart
Sachin Bansal and Binny Bansal are the founders of Flipkart. The e-commerce segment in India underwent a drastic change courtesy of Flipkart. Sachin and Binny found discrepancies while searching for products on Amazon’s online store. The duo realized that the USP of their e-commerce initiative would be the timely delivery of products complemented by a simplistic user interface that leveraged the latest technology. Both the founders have now stepped down from their positions in Flipkart after it was acquired by Walmart in 2018. Flipkart is still giving a tough fight to all the e-commerce platforms out there and continues to win the hearts of Indians. India Today ranked them 50 Most powerful people of 2017 list.
Deep Kalra is the founder of MakeMyTrip. The credit for the introduction of online train bookings in India goes to Deep Kalra. A graduate of St. Stephen’s College with an MBA degree from IIM Ahmedabad, Deep worked for GE Capital and ABN AMRO bank. But the office culture and 9-5 job couldn’t captivate him enough. With a $2 million investment from eVentures and his co-founders, Deep Kalra founded MakeMyTrip, (earlier known as ‘India Ahoy’) in the year 2000. The company was listed on NASDAQ in August 2010. After IRCTC joined the race, Deep diversified MakeMyTrip by introducing hotel bookings. MakeMyTrip has mergers with MyGola, TrulyMadly, and the ITC group, to name a few. Deep Kalra is the chairperson of the NASSCOM Internet Working Group, a member of the Executive Council of NASSCOM, and is part of CII’s tourism sub-committee. He was ranked no 1 in a list of most powerful digital influencers in India by KPMG in 2011. His net worth is $ 136 million.
BYJU’S has helped thousands of students who struggle with subjects such as mathematics and science crack some of the hardest entrance exams like the JEE, NEET, and UPSC, CAT, IAS, and international examinations such as GRE and GMAT. BYJU’S has dominated the online education vertical for quite some time now. Byju Raveendran is the founder of BYJU’S. He is an engineer who worked in a shipping firm and accidentally stepped into the field of teaching when he assisted his friends with their CAT exam. Raveendran’s friends cleared the exam with flying colors and this motivated him to take up teaching on a full-time basis. Byju Raveendran started BYJU’s with an initial investment of just INR 2 lakhs. The startup’s valuation has recently crossed $22 billion as of March 2022, and the company have over 115 million registered students.In January 2022, the company joined Simplilearn, Unacademy, upGrad, PrepInsta Prime and Vedantu to become one of the founding members of IAMAI’s India EdTech Consortium.
In March 2022, the company signed a contract with Qatar Investment Authority to establish a new edtech company and a R&D center in Doha.
The concept of bringing the grocery store to one’s doorstep has done wonders across the globe. With it, the problem of waiting in long queues at groceries has now gone for a toss. Indians too now prefer the online route for grocery shopping. And who has dominated this segment? BigBasket. Hari Menon is the founder of BigBasket. With sales of over INR 150 crores per month, BigBasket has cemented its place as one of the big shots in the Indian e-commerce domain. It is operational in Bangalore, Mumbai, Delhi-NCR, Hyderabad, Chennai, Pune, Ahmedabad, and Kolkata at present. In 2021 Tata Digital buys 64% stake in BigBasket His company received a lot of awards such as Consumer Internet Company of the Year by VC Circle Awards 2016, Best Online Grocer at Coca Cola Golden Spoon Awards 2016, Best retail and e-commerce app of the year at AWS Mobility Awards 2017, etc.
Albinder Dhindsa wanted to provide the services of a grocery, bakery, and general store through a consolidated platform. His dream took the form of Grofers, an Indian online grocery service. Albinder Dhindsa and Saurabh Kumar founded Grofers. The duo worked hard to infuse new ideas into the online delivery system in India. Grofers is worth around $650 million today. The company has shifted from a B2B to a B2C business model. Grofers was named one of the Top 10 startups in Delhi and Gurgaon in 2014. Grofers had attained unicorn status or $1 billion in valuation, after raising over $120 million from food aggregator Zomato Ltd. On December 13, 2021, Grofers changed its brand name to Blinkit. As of 2021 Albinder holds 5-10% stake in the company.
Sanjiv Bajaj is known as the Chairman and Managing Director of Bajaj Finserv. Born into a family of the Bajajs, a business house started by Jamnalal Bajaj, who led the Bajaj Group to glory, Sanjiv had the zeal to raise their family business to amazing highs. Sanjiv is the son of Rahul Bajaj and great-grandson of Jamnalal Bajaj. After completing his Btech. in Mechanical engineering, followed by a Masters in manufacturing systems from the University of Warwick and an MBA from Harvard Business school, Sanjiv started his career with Bajaj Auto in 1994.
He had been a promising businessman from the very first, which helped him scale numerous prestigious designations within the organization. He had brought the American-style supply chain management to Bajaj Auto. Bajaj is currently serving as a non-executive director of Bajaj Auto.
Along with Bajaj Auto, Sanjiv also contributed to Bajaj Finserv, Bajaj Allianz Life Insurance, Bajaj Allianz General Insurance, Bajaj Finance for which he was appointed as the Chairman and Vice-Chairman. Sanjiv even led Bajaj Allianz General Insurance to emerge as the 2nd most profitable insurance company in India. Being an accomplished entrepreneur, Bajaj won a range of awards for the same, like the Entrepreneur of the Year” Award 2015-16 from Bombay Management Association, Ernst & Young’s Entrepreneur of the Year Award in 2017, Economic Times Awards for Business Leader of the Year 2018. Therefore, Sanjiv Bajaj can be regarded as one of the greatest entrepreneurs and business leaders that India has seen to date. Sanjiv Bajaj has a revenue of over ₹ 36,692 crore ($ 4.4 billion) and profit of over ₹ 2,866 crore ($ 348 million) for H1 FY2022-23.
PolicyBazaar has certainly grown to become one of the best insurance aggregators and a global technology company but it might not have secured the illustrious position that it now stands on if it was not for the Chief Executive Officer and Cofounder of the company, Yashish Dahiya. Dahiya was a student of IIT Delhi, from where he did his Bachelors in Engineering. He then went on to complete a Post Graduate Diploma in Management from IIM Ahmedabad, which was followed by an MBA from INSEAD in 2001.
Yashish was the MD of the pan-European travel distributor, ebookers.com, and had previous experience of working as a strategy consultant of Bain & Co. in their London office before he founded PolicyBazaar in 2008. Yashish Dahiya had a major contribution to PolicyBazaar since he founded the company along with Alok Bansal and Avaneesh Nirjar in 2008, which has successfully become a key influencer in consumer decisions around insurance now. Furthermore, the platform hosts over 100 million visitors a year on average on its platform.
Dahiya was honored with the EY Entrepreneur of The Year (EOY) 2019 award in the Financial Services category and more for all that he had done for PolicyBazaar. Yashish Dahiya is also an extraordinary sportsperson along with a celebrated entrepreneur. He is the Indian masters swimming champion and has taken part in several world masters swimming championships representing India. Furthermore, Dahiya also boasts of having the 3rd fastest half ironman timing and the 5th fastest Ironman timings amongst Indians across all age groups along with having the fastest timings in his age group. In June 2021, Policybazaar obtained the insurance broking license from IRADA and announced that it would set up 100 offline outlets across India. The company also surrendered its web aggregator license. PB Fintech Ltd, the parent company of Policybazaar, opened its initial public offering (IPO) and raised ₹5,625 crore(US$700 million).Shares of PB Fintech Ltd began trading on National Stock Exchange and Bombay Stock Exchange in November 2021.
It seems nothing less than a dream when we talk about a fan of Manchester United, Mumbai Indians, and the Indian cricket team, who founded a company named Dream11 for the love of sports that he nurtures. Yes, it happened with Harsh Jain, who with his founding partner, Bhavit Sheth, founded Dream11 and Dream Sports, India’s no. 1 sports fantasy platform for sporting enthusiasts. That allows users to play fantasy cricket, hockey, football, kabaddi, handball, basketball, volleyball, rugby,futsal, American football,and baseball.
Harsh was the son of Anand Jain, an Indian business magnate previously associated with Mukesh Ambani. He was born in Mumbai, India, and was an engineering student at the University of Pennsylvania, after which he went for an MBA from Columbia Business School. Harsh began his career with Microsoft from where he completed a 2 months Summer Internship from June 2006 to August of the same year after which he went to work in Jai Corp Limited as a Marketing Manager. His father, Anand Jain was then the Chairman of the company. Jain worked at Jai for 13 months, when in 2008 he decided to establish Dream11.
Harsh is currently serving as a Culture Enforcement Officer (CEO) & Co-Founder of Dream Sports (Dream11, FanCode, DreamX, and more) and one of the leading entrepreneurs of India. Harsh is a major inspiration for the budding entrepreneurs of the country for sure. In April 2019, Dream11 became the first Indian Fantasy sportcompany to become a unicorn.In November 2021 Dream11 was valued at $8 billion.In December 2022, Dream11 had 160 million active users in India.
Supam Maheshwari is better known as the CEO and Co-Founder of Firstcry, India’s online marketplace for baby products. Supam was a postgraduate student from IIM Ahmedabad and started Brainvisa, as his first company with Amitava Saha, back in March 2000. The Pune-based company witnessed a steady growth before it was acquired by the US-based group, Indecomm Global in 2007.
Supam served as the Co-founder and the CEO of Brainvisa till December 2009 in order to found another company. He founded FirstCry.com in August 2010 along with Amitava Saha, Prashant Jadhav, and Sanket Hattimattur.
The idea of establishing an eCommerce company focused on baby care products was rooted deep in his personal experience as a first-time parent, who faced numerous challenges in sourcing the best product for his baby. Firstcry has grown to be a market leader when it comes to baby products online. The company currently boasts of over 380 stores across India.
His net worth could be estimated at 190 million USD.The baby products marketplace’s valuation stands at 1.9 billion USD after an equity funding round of 13 million USD with pi Ventures As of 2021.
FirstCry had increased its IPO size from around $700 Mn to $1 Bn, aiming at a valuation of around $6-7 BnIN Aug 2022
Richa Kar is the face of one of India’s largest online lingerie stores, Zivame. Richa was born in a conventional family in Jamshedpur. Kar was an engineering student, who completed her graduation from BITS Pilani and eventually went for a corporate job in Bangalore. Richa eventually left her job in order to pursue an MBA, after which she joined Spencers Retail and then SAP Retail.
Her exposure in the retail industry helped her develop knowledge and practical skills beneficial for the retail industry. While working with SAP, Richa was intrigued about Victoria’s Secret, America’s largest retail company for women’s lingerie, and the success it enjoys. Soon after, she realized that India hasn’t got any such websites empowering women to shop for their own lingerie online smoothly and fearlessly.
Though Richa had a considerable experience of around 8 years by then in the retail industry, her parents didn’t get the concept of selling lingerie and weren’t sure how they would speak of her daughter, who is involved in such a profession to others. Therefore, she gravely lacked any support from her family but with her strong will and zeal to found a startup, she ultimately managed to establish Zivame with Kapil Karekar in 2011. Zivame has now become an online leader in its segment, offering more than 5,000 styles, 50 brands, and 100 sizes. Zivame products come at affordable prices with high quality.
The company that initially started with Rs 35 lakhs, which Richa borrowed from her friends, is currently one of the best women’s lingerie marketplace in India. Zivame has received $69 million in funding at a valuation of $98.6M and her net worth is Rs 749 crores, according to reports. The company currently holds about 26% of the market share of the women’s online lingerie market in India, which stood at Rs 430 crore in FY19.
Ashish Hemrajani is an Indian entrepreneur, popularly identified as the Co-founder and CEO of Bigtree Entertainment Pvt. Ltd., the parent company of India’s biggest online entertainment ticketing platform BookMyShow. Ashish Hemrajani completed his MBA with Marketing as his specialization from Sydenham University in 1997.
As soon as he completed his MBA, he went to work with J. Water Thompson. However, after working in the client management segment of the firm for 2 years, Ashish left the company in order to start his new venture with Bigtree Entertainment and BookMyShow in 1999.
BookMyShow still stands as a leading online ticketing solution for Indians. Under the leadership of Ashish, the company further expanded to New Zealand, UAE, Indonesia, and Sri Lanka. BookMyShow also had a feature to buy tickets of sports matches like IPL, ISL, etc. They now have employ over 400 people across offices in Mumbai, Delhi, Hyderabad, Chennai, Bangalore. Ashish Hemrajani Net worth is estimated at Rs.3000 Crore as of 2021.
Shiv Nadar is a founding member of HCL Technologies and a prominent Indian entrepreneur, billionaire industrialist, and the recipient of India’s 3rd highest civilian award, Padma Bhushan. Shiv Nadar is the 3rd richest person of India, as of September 2021 with a net worth of around US$29.3 billion. Nadar goes by the nickname “Magus” (meaning: wizard in Old Persian), which he received from his friends.
Nadar was educated in the St. Joseph Boys Higher Secondary School, Trichy, and received his pre-university degree from the American College, Madurai. He again pursued Electrical and Electronics Engineering from the PSG College of Technology, Coimbatore, and received his Bachelor’s in engineering.
Walchand Group’s Cooper Engineering Ltd., Pune, which he joined in 1967, marked the start of Nadar’s career. However, he soon left his job role and founded Microcomp, a company that focused on selling teledigital calculators in the Indian market. Soon after that, he founded HCL in 1976 in collaboration with several friends and colleagues and with an investment of Rs 187,000.
The company made revolutionary advancements in the Indian IT landscape and is still regarded as one of the best among the homegrown IT companies whereas Shiv Nadar stands tall and towering as one of the top entrepreneurs of India.
The founder and CEO of the cyber security company, TAC Security, Trishneet Arora, was named in Forbes 30 Under 30 2018 Asia list and also in Under 40 List of India’s Brightest Business Minds 2019 by Fortune magazine, in 2020 Entrepreneur of the Year in Service Business-Security, 2021 Fortune India 40 Under 40 and 2022 he was Awarded as global leader of tomorrow.
Arora failed in the 8th standard but his relentless love for computers and coding drove him through the path of glory to become a professional ethical hacker and a renowned cybersecurity expert. Arora dropped out of school but continued with his studies along with fixing computers and cleaning up software.
Trishneet was only 19 when he founded his own company, TAC Security Solutions in 2013 and he has never looked back since then. The cybersecurity company, TAC Security offers protection to numerous corporations like Reliance Industries, CBI, Gujarat Police, and Punjab Police and others, against network vulnerabilities and data theft. Trishneet Arora’s net worth is $5 million as of now.
The founder of Reliance Industries, Dhirajlal Hirachand Ambani, or Dhirubhai Ambani, as he is popularly known, was a successful entrepreneur and business tycoon, who took Reliance public in 1977. Dhirubhai has been recognized with numerous awards and accolades heaped on during his lifetime and was also awarded the prestigious Padma Vibhushan, India’s second-highest civilian honor after he died in the year 2002.
Dhirubhai was a student of the Bahadur Khanji school. After the completion of his studies, he left for the Port of Aden, Yemen, to work for A. Besse and Co., for which he was later involved in selling shell and Burmah oil products. However, he left Aden and came back to his motherland to start his own company. Initially starting with “Majin” in partnership with Champaklal Damani, Dhirubhai eventually set up Reliance Commercial Corporation in 1966, which was later rechristened as Reliance Industries in May 1973.
Also, it was Dhirubhai who launched the popular textile brand ‘Vimal’. Dhirubhai died when he was 69 and was worth around $2.9 bn upon his death.
Lakshmi Niwas Mittal is the Executive Chairman and CEO of the largest steel-making company in the world, ArcelorMittal, and an Indian steel magnate based in the United Kingdom. Besides, Mittal also serves as the Chairman of Aperam, a stainless steel manufacturer, which spun out of ArcelorMittal. Mittal owns around 38% stakes in his company along with another 20% stakes in the EFL Championship football club, Queens Park Rangers.
Lakshmi Mittal has also been appointed as a member of the board of directors of Goldman Sachs since 2008. Mittal was recognized with titles, honors, and awards of various kinds from time to time including “the third-richest person in the world” as announced by Forbes in 2005. He was also announced as the “Business Person of 2006” by Sunday Times, “Person of the Year” by Financial Times, In 2008 he was awarded the Padma Vibhushan, and more.
Born in a Marwadi family, Lakshmi studied at Shri Daulatram Nopany Vidyalaya in Calcutta and graduated from the University of Calcutta affiliated St Xavier’s College with a B.Com degree in the first class. Mittal first chose the business way by founding the steel factory PT Ispat Indo. He went to purchase numerous companies from abroad, like the Irish Steel plant, starting from the state-owned steelworks in Trinidad and Tobago, all of which were successful initiatives.
Mittal ultimately succeeded to come out triumphant in a hostile takeover bid of Arcelor and later renamed it to ArcelorMittal, which is currently responsible for bringing a lion’s share of revenues for Mittal. As of 2022, he was ranked as the 15th richest man in India by Forbes with a net-worth of US$17.8 billion.
Informally known as the Czar of the IT industry of India, Azim Premji is the face of Wipro. Premji is known as an entrepreneur, investor, engineer, business tycoon, and philanthropist who was responsible for cementing the position of Wipro as one of the most prestigious of the Indian multinational corporations through more than four decades of growth and diversification.
Azim Premji is the founding Chairman and a non-executive member of the board of the company and has been twice listed by Time Magazine among the 100 Most Influential people.
Premji went for a Bachelor’s degree in Electrical Engineering from Stanford University but he had to come back to take charge of Wipro, which was then termed as Western Indian Vegetable Products. He expanded the business to a large scale and later on discovered the vacuum that IBM left on its expulsion from India. He filled the gap by developing the IT wing of Wipro.
Premji is one of the most successful Indian entrepreneurs whose total wealth was estimated $9.3billion and $25 billion respectively as of feb 2023. Moreover, he is also recognized for his philanthropic nature. He makes most of his donations to the Azim Premji Foundation and had agreed to give away half his wealth by signing the Giving Pledge in 2013. In 2019, he dropped from the 2nd position in the Forbes India Rich list to 17th position after giving away a huge amount to charity.
He topped the EdelGive Hurun India Philanthropy List for 2020
We all have heard about Dunzo but do you know who founded it? The 24/7 delivery app was founded in July 2014 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri, and Mukund Jha. Kabeer Biswas is the CEO and Co-founder of Dunzo, who completed his B.E from the University of Mumbai and followed it with an MBA from Narsee Monjee Institute of Management Studies (NMIMS).
He started his career with Bharti Airtel, Videocon Telecommunications, and then went on to found Dunzo. Dunzo currently provides its delivery services in eight Indian cities including Bangalore, Delhi, Gurgaon, Pune, Chennai, Jaipur, Mumbai and Hyderabad.
In August 2021, Dunzo launched a new service, Dunzo Daily, to deliver essentials and household items in 19 minutes. January 2022, Reliance Retail led a US$240 million funding round along with Dunzo’s existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. Reliance Retail invested US$200 million for a 25.8% stake in Dunzo.
Ratan Tata is the former Chairman of Tata Sons and Tata Group and is still the head of the charitable trusts of the company. A scion of the Tata family, Ratan Tata was the son of Naval Tata and later adopted by Jamsetji Tata.
He is well-known as an Indian industrialist, philanthropist, and one of the few business tycoons who are synonymous with success. Tata was the recipient of two of the highest Indian civilian awards – Padma Bhushan and Padma Vibhushan.
Ratan Tata was a student of the Cornell University of Architecture and completed his Advanced Management Program from the Harvard Business school in 1975. Tata was the apparent successor of J.R.D Tata, who started with the shop floor of Tata Steel and was responsible for expanding the company on a massive scale.
Largely credited with the diversification and growth of Tata, Ratan Tata helped the company acquire numerous businesses and companies including Tetley, Jaguar Land Rover, and more, and scaled the company to unimaginable heights. Ratan Tata is currently featured among the top entrepreneurs of India and an inspirational figure for all the budding entrepreneurs and other individuals.
Nithin Kamath is the Co-founder of the biggest stock-broking company in India, Zerodha, an inspirational entrepreneur, and is famous as one of the self-made billionaires of India. Nithin along with his brother, Nikhil Kamat has also been declared as the richest self-made billionaire in India under 40, according to IIFL Wealth and Hurun India’s 40 & Under Self-Made Rich List 2020 with a combined wealth of Rs 24,000 crores, as assessed in 2020. In year end march 2022 zerodha net profit was 2094.3 crore.
The company has valued itself at $3billion, based on the valuations of employee stock option. Nithin Kamath was a student of Bangalore Institute of Technology but he was never quite inclined to academics. Kamath got into the world of trading at the early age of 17 and eventually, his love for trading grew.
Nithin was successful in trading but also lost quite a lot of his money in the early 2000s. Kamath then returned to a fixed job at a call center, where he worked for 4 years before joining Reliance Money as a franchisee in proprietary trading and advisory services. He worked hard and saved his capital to establish his own company Zerodha in 2010 and emerge at the top of his game with Nikhil.
Kiran Mazumdar Shaw is an Indian billionaire entrepreneur distinguished for being the executive chairperson and founder of Biocon Limited and Biocon Biologics Limited. Furthermore, she was also recognized as the former chairperson of the Indian Institute of Management, Bangalore. Kiran was the recipient of the Othmer Gold Medal for her contributions to the fields of science and chemistry.
Financial Times listed her among the Top 50 women in the business list while Forbes listed her as the 68th most powerful woman in the world. Furthermore, Kiran was also named the EY World Entrepreneur of the Year in 2020.
After completing her graduation from Bangalore University with a bachelor’s degree in Zoology, Kiran went to the fermentation science and brewing at Melbourne University and topped her class emerging as a master brewer in 1975. She struggled to join as a master brewer in India after serving Carlton and United Breweries because the breweries here believed that the job of a master brewer is a “man’s work.”
However, Kiran discovered huge opportunities abroad and joined Biocon Biochemicals Limited, and eventually started Biocon India. In 2015, she joined The Giving Pledge, promising that at least half of her wealth will be dedicated to philanthrop. In 2019, she was listed as the 68th most powerful woman in the world by Forbes. She received Firodia Lifetime Achievement Award 2022 for her contributions to science and technology.
In January 2020 Kiran received the international award and became the fourth Indian citizen to be honored with Australia’s highest civilian award. In year 2023 they start
Kiran Mazumdar-Shaw scholarship for the students who study in the fields of science, technology or mathematics at the Mount Helen Campus. By 2022 she has a net worth of $3.1 billion.
Back in 2010, paying gas, electricity, telephone bills, and recharging our mobiles, DTH, and more wasn’t as easy as it is now. Then, Freecharge was one of the companies that came into being, which greatly helped the Indian masses to empower their digital ways. Sandeep Tandon was one of the founders of this precursor of today’s digital payments app, Freecharge, which he founded in 2010 with Kunal Shah.
A technology investor and one of the most successful entrepreneurs of India, Sandeep Tandon was a student of Bombay Scottish, after which he pursued a Bachelor’s and then Masters of Science in Electrical Engineering from the University of Southern California. Sandeep started his career with a Los Angeles startup where he worked as an application manager.
However, it wasn’t long before he left the company and initiated his own venture, Celetronix but that was again sold to Jabil Circuits.
Freecharge was the next company that he founded, which emerged as the fastest-growing mobile payments app in India. After a short but successful period, Freecharge was acquired by Snapdeal and then eventually acquired by Axis bank, which currently owns the company.
Being a successful entrepreneur with years of experience, Sandeep Tandon is currently serving as the Managing Director of Tandon Group, as an Angel investor, and a mentor to the young entrepreneurs.
As eccentric as its name, Bewakoof boasts of an incredibly successful run as a casual wear and accessories hotspot for the current generation and undoubtedly a major part of its success goes to its Founder Director, Prabhkiran Singh. He along with Siddharth Munot founded Bewakoof.com back in 2010, which has since been a raging success for its unique printed t-shirts, joggers, funky mobile covers, and other accessories.
Both being civil engineering graduates from IIT Bombay, Prabhkiran and Siddharth were well-known to each other. In fact, both of them started with their independent startups right after they completed studies but none of them truly worked before Bewakoof was launched, which disrupted the Indian markets, promoting the “silliness” when it comes to fashion.
The estimated annual revenue of Bewakoof in 2020 was INR 200 Crores. The net worth of Bewakoof is estimated at INR 100 Crores.
The Indian traditional consumer products market was all saturated and boring, hoping for an upcoming disruption, which Mamaearth brought with its honest, organic, and safe products. The initial idea emerged out of a real-life problem that Varun and Ghazal Alagh faced while raising their own baby.
All of us want to extend our utmost care and best quality products to a newborn and Varun and Ghazal Algh wanted the same for their baby. However, it was when they were expecting their baby that they found the reality about the Indian baby products, none of which met the safety standards required to be applied on a baby. They first started to import baby products from the US but that was neither feasible nor less of a burden to their finances.
This made the research, apply for proper certifications and resulted in the launch of Mamaearth after 4 years of hard work and R&D. Mamaearth is currently hailed as the first Asian brand with the MadeSafe certification for its toxin-free and entirely herbal products. Furthermore, it boasts of having served over 1.5 million customers across 500+ cities of India. The parents turned entrepreneurs, Varun Alagh and Ghazal Alagh have achieved an envious success and are looking forward to a brighter way ahead as one of the most successful Indian entrepreneurs.
The company has expanded into offline distribution through multi-brand retail outlets and exclusive stores, to both online and offline markets. Their next step is to expand the offline business to 100,000 outlets and 100 Indian cities. The company has estimated revenue of INR964 crore in FY22, a growth of 109% over the past year.
PhonePe is akin to digital payments in today’s India. This market leader of a UPI-based digital payments platform was founded by Sameer Nigam, along with his co-founders, Rahul Chari and Burzin Engineer in December 2015.
Sameer Nigam has an MBA in Entrepreneurship from The Wharton School. After completing his schooling at DPS Noida, Sameer went to study Computer Engineering at the University of Mumbai and then completed a Masters of Science in Computer Engineering from the University of Arizona, finally finishing his MBA in 2009.
Sameer served as the Director of Search Product Development at Shopzilla for a little over 6 years, after which he launched Mime360, an online social media distribution channel. Mime360 was eventually acquired by Flipkart, where he again served as a Senior Vice President, Engineering but he left the company after one and half years to start his own company, PhonePe.
PhonePe has since been a roaring success! PhonePe continues to be the top player in the Indian payments ecosystem and accounted for nearly 50 percent of all UPI transactions processed in December 2022, According to National Payments Corporation of India (NPCI).
Conclusion
We hope this list of famous Indian entrepreneurs motivates you to act on that startup idea you have in your head. Who else do you think should be featured in this list? And what makes you go gaga over him or her?
Contact: shubham@startuptalky.com
FAQs
Who is the youngest entrepreneur in India?
Shravan Kumaran and Sanjay Kumaran are the youngest entrepreneurs in India. They co-founded the company called ‘GoDimensions’ a development unit, in 2011 at their home at the age of 10.
Who is the world’s richest person?
The world’s richest person is none other than the founder and CEO of Tesla, Elon Musk, who boasts of a net worth of $223 billion, as of February 28, 2022.
Who is the richest Indian?
Mukesh Ambani is the richest Indian with a wealth of $103 Billion, as of March 2022.
Is a CEO an owner?
The title of CEO is typically given to someone by the board of directors. Owner is a job title that is earned by sole proprietors and entrepreneurs, who have total ownership of the business. However, these job titles are not mutually exclusive — CEOs can be owners and owners can be CEOs.
Who are the leading Indian entrepreneurs now?
To name some of the most prominent Indian entrepreneurs, we must list:
These are the words of the richest man on earth, the founder of Amazon, Jeff Bezos. He loves failure, because he knows very well that the only way to success is through failures. That is why he didn’t mourn the failure of the earlier launched innovation Fire phone. The phone failed deliberately but it wasn’t something that can move the roots of Jeff. He is not one of the easily shaken souls. Here in this article we will articulate the story and learn about the whole episode.
“We are working on much bigger failures right now” – Jeff Bezos
You must be living under a rock if you don’t know what Amazon is. Amazon is the world’s biggest E-commerce platform founded by Jeff Bezos. It also focuses on cloud computing, Artificial Intelligence and digital streaming. It quite literally covers the whole world, by the enormous impact it creates.
How was the Fire Phone Idea ignited ?
Can you tell which is the most famous device to read books digitally ? Well, if your answer is ‘Kindle’ then you are right. Kindle is the brainchild of Amazon and essentially a brainchild of Bezos.
As you may already know, Amazon was built on the foundation of selling books online. In further that direction, Jeff innovated and anticipated digital reading that led to Kindle.
Just after witnessing the popularity of Kindle, Jeff decided to disrupt another segment, known as the smartphones. The entrepreneur decided to make a phone that will disrupt the market with its specificities.
On June 18, 2014 the Fire Phone was unveiled for the first time to the public. At the first glance it really looked like any other phone in 2014. So the physicality of that phone was not much of a show starter. However the cool thing was the experience that the phone provided.
What made Fire Phone unique from normal phones
Fire OS
Fire Phone – Fire OS
An operating system free of the Google elements, that’s unique. The reason behind this uniqueness is that we all know Google dominates the android market in the world. Amazon did something different with that, it tried to make its own OS, a redesigned app tray, settings, framework everything new. A new app store, a new UI, to match the new elements of the Fire Phone.
Dynamic perspective
Fire Phone – Dynamic Perspective
This is the biggest “flex” that the phone showcased. Fire phone can be said to be the first phone with a dynamic perspective. Amazon can be said to be the first brand to scale it. The phone had depth, that means you can actually tilt the phone left to right and see the sides of apps, maps, images etc. That can even be used as a gesture to move through book pages or any list.
This was the innovation that Jeff wanted to present to the world. A new way to navigate through your phone. This was the creative challenge that Jeff posed in front of the engineers.
The basis of this dynamic effect was that it used the phone camera to constantly track the user’s head to tilt the screen according to the head angle. As some people opposed questions on its practical uses, This was seen as such a unique innovation.
Firefly
Fire Phone Firefly
The scan and search anything option was another bright LED to the belt. Amazon added this feature to strike a tough competition to the other smartphones. The Firefly option is a feature that you can use to scan and search almost any item with your camera.
Some people argued that this was an amazon promotional feature and to be honest, it was. More than that it was one of the uniqueness that the phone entailed.
Amazon didn’t released the sales figures for any of its devices, but based in part on its quickly declining prices, it announced a $170 million write-down; analysts have judged it having not been commercially successful. Amazon ceased production of the Fire Phone in August 2015 and discontinued sales soon after.
Why does Jeff Bezos consider Fire Phone Failure a good thing?
“If you think that’s a big failure, we’re working on much bigger failures right now — and I am not kidding,” he said. “Some of them are going to make the Fire Phone look like a tiny little blip.”
All these words show the bright and healthy innovation potential that Amazon has in store. Jeff has such a positive outlook towards even a big failure like this. He says that a small amount of win pays for all the losses.
Jeff is famous for his attitude that he showcases even in adverse situations. What really matters for people is to experiment and embrace failures. This mental model goes well with corporations too.
Companies who fear failure do not go much ahead in the world. It is with the positive outlook towards a failure what makes it a stepping stone for growth or success. Jeff does this thing well.
He has nearly created billions of dollars of failures within Amazon, None of them matters to him. He says experimenting runs through Amazon’s veins and it is quite evident with his views and his past experiment’s track records.
Conclusion
If we talk about Jeff Bezos for more than five minutes, we all will feel motivated and this article will turn into a motivational speech. The reason is simple because of the wonderful personality that the person has, or gained through years of hard work.
It is not just some sort of being at the right moment at the right time, It is more than that. If you have read the article with your full consciousness then the secret would have unfolded in front of your eyes.
Speaking of the Fire phone, it was truly a fire. Many people argue that the phone could have been an app because customers would be comfortable interacting with that. Whatever it was, we can largely see it as an experiment that came out of Jeff’s brain and failed which truly didn’t matter.
The Fire phone flight ended with losses of dollars and earnings of smartphone knowledge. The world is always witnessing such flights and failures but all it takes into account is the try.
FAQ
What are the key characteristics of Jeff Bezos?
Jeff Bezos is a Big Thinker, He has very high standards, he is Strategically Patient and is an Amazing Learner.
Has Jeff Bezos had any failures?
Yes, Jeff Bezos has faced many failures from which the biggest failure is the Fire phone.
How did Jeff Bezos start Amazon?
Jeff Bezos began developing the software for the site, which he called Amazon.com. It sold its first book in 1995.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byYap.
Technology has transformed the way financial transactions and operations happen. Today making and accepting payments, receiving loans, everything has become simpler than ever before. All thanks to tech startups, that are coming up with amazing products that have made financial operations much easier for financial institutions, business owners, and consumers. Chennai-based ‘Yap’ is one such startup that this revolutionizing the way banks and other financial institutions offer services to their customers. Yap provides tools that let banks and financial institutions design customized and convenient solutions for their customers. Here is more about Yap.
Yap offers a payments-as-a-service infrastructure that can handle all types of retail payment assets. Yap’s Application Programming Interface (API) platform allows digital platforms, fintech companies, and offline businesses to offer personalized solutions to their end customers, by linking them with other fintech platforms and banking and non-banking financial firms.
Yap’s functional APIs, let its clients receive and transfer funds through Wallet & Cards, Cross Border Payments, Gift Cards, Fleet Spends, Just-In-Time Funding, UPI as well as other payment methods. Consumer, corporate, small business, and credit card loans are among the products it offers.
Yap’s modular platform ‘bank in a box’ enables its clients to offer products such as opening bank account, credit, online payment, toll payment, foreign exchange solutions, etc.
Many companies in Nepal, India, New Zealand, the UAE, Australia, and the Philippines are served by YAP. Around 20 Indian banks, including ICICI Bank, Yes Bank, and RBL Bank, as well as numerous consumer internet companies like Ola, Cred, Swiggy, and also large NBFCs like Muthoot, TVS Credit, Bharat pe, Razorpay, Finin, etc use YAP’s services on the lending space.
Yap – Latest News
In March 2021, Yap raised $10 Million in funding from investors like Flourish Ventures and Omidyar Network India. The fundraising round included participation from YAP’s current investors, including Beenext, 8i Ventures, and Better Capital.
“We are uniquely poised to cater to new cohorts of distributors as more firms embed financial services into their digital platforms. This investment allows us to strengthen our technology teams, build new capabilities as well as reach new markets across Asia,” Madhusudanan R, co-founder at Yap, said.
Madhusudanan R is the Chief Executive Officer & Founder at YAP. He is a fintech entrepreneur with deep-rooted experience in building and scaling Payments businesses across Asia.
Prabhu R
Prabhu R is the Co-Founder & Chief Operating Officer at YAP.
Yap – Startup Story
Madhusudanan R. and Muthukumar A and came up with the Yap idea during the office tea breaks. The founders who worked at Visa Inc in Mumbai from 2010 to 2012, often realized how big banks were lagging behind in digitizing their services. The focus of these conversations was always on how the financial industry might fix this problem. Finally, Madhusudanan and Muthukumar, came up with a solution themselves and founded Yap in 2014.
The Yap founders observed how banks work in India, through their combined expertise of over a decade working for Visa, Citibank, and Paypal. They understood that due to their aversion to developing new digital products, banks were unable to reach a whole new set of clients. Yap is a solution to these problems, Yap’s is empowering many banks, financial institutions, and businesses to offer various customized solutions to its customers.
YAP’s unique API (application programming interface) gives banks and fintech businesses the tools they need to create new payment systems. This shortens the time it takes for these businesses to acquire consumers who want simple and quick electronic payment options.
“When we started, banks in India didn’t use any APIs. In other markets, like the US, this phenomenon started ten years ago. In India, it started around 2014–15, when a few digital payment companies started to grow,” Madhusudanan, co-founder of YAP, told.
The firm claims to deal with 15 banks in India at the moment. Apart from providing an API for payment integration, including UPI payments, YAP also assists them in acquiring corporate clients, which are often digital financial institutions such as neobanks or the fintech divisions of big corporations.
“They don’t have to spend any money on this, and they can reach a lot larger audience without having to spend money on client acquisition,” Madhusudanan explained.
Yap – Mission and Vision
Yap’s mission statement says, “We are focused on user experience and customer retention. We are constantly thinking of new use cases and ways to serve our customers across all their financial needs as seamlessly woven into their daily routine life as possible.”
YAP is on a mission to transform every business into a fintech.
Yap – Name & Logo
Company Logo of Yap
Yap – Business Model and Revenue Model
Yap provides B2B tech solutions to financial institutions and businesses. The YAP platform connects companies to licensed banks, financial institutions, and financial infrastructure such as UPI/card networks through its extensive Application Programming Interface (API) libraries. Within a few weeks, a company may connect to YAP’s platform, choose goods and banking partners, and roll out financial products to its consumers or vendors. In addition, YAP oversees essential continuing activities like reconciliations and compliance monitoring. YAP now serves over 200 fintech with an API platform.
Madhusudanan R – Chief Executive Officer & Founder
Yap – Funding and Investors
Date
Round
Amount
Lead Investors
Mar 16, 2021
Series B
₹732M
Flourish Ventures, Omidyar Network India
Apr 21, 2020
Series A
$4.5M
BEENEXT
Feb 13, 2020
Seed Round
₹100M
Amrish Rau
Yap – Growth
Around 20 Indian businesses, including ICICI Bank, Yes Bank, and RBL Bank, as well as numerous prominent consumer internet companies like Ola and PaisaBazaar, use the service.
“We are uniquely poised to cater to new cohorts of distributors as more firms embed financial services into their digital platforms. This investment allows us to strengthen our technology teams, build new capabilities as well as reach new markets across Asia,” Madhusudanan said.
The 6-year-old firm offers comprehensive Application Programming Interfaces (APIs) to banks, startups, and consumer online businesses. The new funds (raised in March 2021) will be utilized to expand into foreign markets and bolster the team with new hires.
Yap’s major plans include expansion to new geographies and expanding the team. According to Madhusudanan R, co-founder of YAP, the company intends to grow to Bangladesh, Saudi Arabia, Oman, Egypt, Vietnam, and Indonesia.
India’s rapidly digitizing financial environment, according to Amol Warange, head of Omidyar Network India, would provide chances for YAP to expand.
“We think that digital enablers like YAP can catalyze financial inclusion and promote adoption of financial products among the next 500 million Indians who are projected to access the internet for the first time via their mobile phones” Warange added.
Yap – FAQs
What does Yap do?
Yap offers a payments-as-a-service infrastructure that can handle all types of retail payment assets. The company’s platform links banks, financial institutions, enterprises, payment networks, and merchants to build an interoperable payment platform that allows businesses to quickly design and carry out their own customized payment solutions.
Which country is Yap based in?
Yap is a Chennai-based, Indian fintech company.
Who founded Yap?
Yap was founded by Madhusudanan R and Prabhu R.
Which companies do Yap compete with?
Open Bank Project, Decentro, TrueLayer, Teller, Inc., Plaid, Konsentus, Figo, Quovo, and Instantor are the top ten competitors of YAP.
When it comes to tour and tourism, MakeMyTrip holds a leading position in the market. The very popular Indian travel company, MakeMyTrip, launched in the year 2000. Ever wondered how this company makes money? Or how its business model is designed? Well, in most simple words, the business model of MakeMyTrip entirely revolves around the online travel services it offers.
MakeMyTrip provides the facility of booking tickets for holidays, flights, busses, cars and trains. This travel company has made booking tickets very convenient for Indians. Also, it has improvised the travel conditions and arrangements in India.
In this article, we have discussed the business model of this amazing travel company- MakeMyTrip and how it makes money. So, let’s get started!
MakeMyTrip is a very famous Indian travel company, established in 2000. The company provides some very amazing online travel services and offers. With MakeMyTrip, you can book tickets for flights, hotels, buses and many more.
This famous travel company was founded by Deep Kalra. The company directly communicates with the customers through its verified online platform and deals with all customers’ concerns related to travelling. In other words, MakeMyTrip is the perfect guide for you to plan your vacation.
MakeMyTrip owns around 30+ franchised stores along with 14 different stores across 28 cities. In the year 2012, the company developed and launched its mobile application for its customers that provides over 10 lakh routes all around India. MakeMyTrip has made travelling super cool and convenient for the Indians by helping them in all aspects of travel requirements.
Key services of MakeMyTrip
MakeMyTrip provides various beneficiary services for its customers. Some of them are booking tickets for any sort of travel media such as flights, trains, buses or many others. Besides this, booking tickets for hotels, hire cars, and holiday packages, etc.
Apart from this, there are many third-party services also available such as travel insurance, Visa and many others, especially for travelling in any other country.
There isn’t any specific group that MakeMyTrip separately focuses on. The travel company focuses on different groups with different specifications and segments. It attracts all kinds of age groups and genders. Although the company does prefer customers who have a vivid connection with the internet.
Where does MakeMyTrip operate?
MakeMyTrip is an India-based travel company but the company has expanded itself into foreign countries as well such as America, UAE and many others. MakeMyTrip has well-functioning offices in New York, Bangkok, Dubai, Kaula, Singapore, Phuket and many others.
Business Model of MakeMyTrip
The business model of MakeMyTrip is very strategic and mainly based on customer service. MakeMyTrip provides the audience with great offerings and also, facility to book tickets.
India, being the fastest-growing digital travel agency that basically benefits brands like MakeMyTrip in making them a strong contender in the global market. And for this, their business model entirely strategies the marketing, price, name, promotion and location. The company provides satisfaction to its customers through its amazing customer-centric services.
Apart from this, MakeMyTrip provides its services at affordable pricing rates. MakeMyTrip provides an e-marketplace that is basically available for a huge range of audiences across the world.
The company promotes its services and offerings through electronic banners on television commercials, websites and various other channels. Also, it promotes through offline retail stores.
Today, MakeMyTrip has become an elite brand and has great strategic planning including various marketing schemes and campaigns.
What is unique about the business model of MakeMyTrip
MakeMyTrip is way beyond just creating the most amazing experience for customers. In the competitive marketplace, MakeMyTrip offers the facility of customer testimonials that give strong feedback on the company’s customer service managers. And the great customers’ experience is what favours the company most.
In addition to this, MakeMyTrip works on various tactics and technologies to improvise its products and services. This brings out a great additional advantage to the company, especially over its audience. Along with this, MakeMyTrip provides an advanced place to its retail stores for showing the company’s products.
MakeMyTrip has its major revenue source from the fee it charges over the online bookings. Although the company provides the most affordable flight tickets, that’s what attracts the customers more. They do this by purchasing the tickets from the private airlines by a huge number and they then reduce the charge and sell these tickets to the customers and earn a good extra commission fee.
MakeMyTrip earns huge profit through the flight tickets but as there aren’t many options available with the trains that’s why they did not offer this service over train tickets. The company has over 5000 to 10,000 registered hotels and around 1000 registered busses.
Apart from this, the major source of revenue is from marketing of various companies like Tata, Kingfisher, SpiceJet and many others. They also earn revenue by advertising holiday packages of various hotels on their website.
Conclusion
MakeMyTrip is known as the leader in the travel market in India. The company follows the Business-to-consumer digital business model. It is amazing with its services and products, both online and offline platforms. The travel market in India has grown at the rate of 40% and a huge market share is taken by MakeMyTrip.
This clearly shows that the company has its marketing strategies very effective and efficient. MakeMyTrip earns a good amount of revenue and has a strong marketing position. Stay tuned for more content!
FAQ
Who is the founder of MakeMyTrip?
MakeMyTrip was founded by Deep Kalra in 2000.
What is the revenue of MakeMyTrip?
The revenue of MakeMyTrip was 163 million U.S. dollars as of 2020.
Who are the competitors of MakeMyTrip?
MakeMyTrip’s top competitors include Flight Centre Travel Group, Treebo, TravelTriangle, Yatra and ClearTrip.
Damini Bhandary
