Posts Tagged ‘Product Development’

The Entrepreneur Spotlight for March 2012 is on Aanchal Suri, the young lady behind the brand, Myne by Aanchal™

 

Aanchal, 29 has a Bachelors Degree in fashion Design from NIFt, Hyderabad.  With 3 years of experience she is making waves with her Chikankari designs of a range of fabrics.  Here is a look at her story so far…

Myne by Aanchal™ launched in June 2009 is a sole proprietorship located at Daisy 74, L&T Serene County, Gachibowli, Hyderabad 500032.

 

Identification of Business Opportunity

 

How did you get the idea to begin this venture?  

As a youngster, I was always surrounded by Chikankari. I used to spend hours at my mother’s workshop talking and making friends with the girls who bring life into designs by putting in hours of work. The more time I spent there, the more I got drawn towards this art. Gradually, I started designing for my mother’s boutique. As my designs got appreciated by clients, I became confident that this is what I wanted to do always.

 

What were the supporting/motivating factors in setting up this business?

Family & Friends

 

What is your USP (unique selling proposition)?

Myne is not just a business for us. This was a dream that’s turned into reality. We love creating new designs and try to make them available at reasonable prices. Our USP is that we experiment with different fabrics contrary to what is already available in the market. We combine the art of Chikankari with fabrics like Mangalgiri cottons, Chanderi, Zari Kotas etc.

 

What is your vision for the venture?

We want Myne to be loved. Our current clients are our friends now because they love coming back to something unique every time. Of course, we would like to grow. Unlike most businesses, we do not want to open a chain of stores and start mass producing our creations. Our vision is to maintain exclusivity and create from the heart.

 

What sort of growth strategy did you follow?

Myne came into being in the summer of ’09. Being a design student, I started production with what I thought was in fashion. I learnt I wasn’t entirely correct. Myne’s launch exhibition was held at Taj Deccan in Sep ’09. Moving on, with every subsequent exhibition, we got a fair idea of what people wanted. Our next show at The Ashoka in New Delhi in Nov ’09 was a good one. Every bit of appreciation encouraged us. The first year was spent learning, especially how client preferences varied across cities and regions. Gradually, we made friends (we don’t like calling them contacts) and each and everyone we know today has helped Myne grow in their own special way.

 

Any steps that you are taking to help society in general & people in particular?­

Chikankari has always been done by women who are not allowed to step out to work in and around UP. Things are changing now. Women are comfortable working for a few hours everyday to earn as well as be independent. Myne has set up a small workshop in Lucknow, closer to where a majority of Chikankari karigar women reside. This makes it easier for them because they don’t have to travel and therefore do not spend time or money doing so. Our workshop comprises of 5 to 12 women at any given point of time, and a lady supervisor. We hope to employ more and more women as we grow.

 

What are the problems that you are facing?

As a startup, Myne did face challenges, but we believe that’s part of the package. Every day is a learning experience, and helps us grow. We are getting better at marketing our products and streamlining production. Overall, it has been a happy, slightly bumpy ride.

 

FUTURE PROSPECTS:

As we mentioned earlier, we didn’t start Myne with a great vision or a huge business plan. We started it because we loved doing what we do, and therefore we do not have any major expansion plans. Neither do we have any intention of taking the competition down in the next few years. In the coming 5, 10 or 20 years, we would like to connect with more people, earn more respect, appreciation and love. More than bulk orders, we like it when people come and share a cup of tea with us and browse through our collection. We are thrilled when people call up to tell us how stunning they looked wearing Myne. That’s what we need more of in the future.

 

Any Plans Of Expanding The Business?

YES.  Expansion plans for Myne are not very ambitions. Currently we retail out of my mother’s boutique in Lucknow, my home in Hyderabad, and very recently we have gone online with Shopo.in. Occasional exhibitions are also part of our work. Although we would love to go places, I personally do not wish to expand in a manner where I cannot personally pay attention either to my karigars or to my clients.

 

How much use of technology is used to promote business?

1. WEBSITE (PROVIDE URL) – http://www.myne.in
2. ONLINE STORE – http://www.shopo.in/shop/myne
3. SOCIAL NETWORKING SITES LIKE FACEBOOK – http://www.facebook.com/mynebyaanchal

 

Anecdotes/Experiences (Good )

Our biggest boost came when my college professors appreciated Myne. We were invited to participate in the 25^th year celebration of NIFT Hyderabad and did a fashion show there. Some of our mentors wear Myne now.

 

A client from the US wore one of our silk kurtas for Christmas and was appreciated so much that she called us to say thanks. Some of our friends want our products too. We are working on that.

 

Anecdotes/Experiences (Bad)

Our launch exhibition was a letdown. I was disappointed, but determined to make things better. Since then, there has been no looking back.

 

Any advice for future entrepreneurs?

We are still learning. Not sure if we can give any major advice. But one very important thing to keep in mind is what people want. Most design students get so busy creating that it is easy for them to forget what the market demands. As long as a nice balance can be achieved, you should do well.

 

What are your strengths, weaknesses, opportunities and threats?

STRENGTHS: Giving Chikankari a new dimension without making it too expensive. It is very encouraging how our experiments with hand embroidery on diverse fabrics is being accepted so generously. Of course, tremendous support from our loved ones is our backbone.

 

WEAKNESSES: Marketing is still a challenge. We hope we can work better on this and see more people in Myne in the near future.

 

OPPORTUNITIES: The market for hand crafted and Indian products is growing everyday. People in India and abroad are leaning towards handwork. Let’s just say we are in the right place at the right time.

 

THREATS: The other day, my neighbour was wearing a machine embroidered kurta that she had bought at a local market at an exorbitant price. Turns out she bought the kurta thinking it was Chikankari. I wanted to laugh at how she had been cheated. But I realized how this entire situation was more of a threat than a joke. Not everyone can distinguish hand embroidery from machine embroidery. Taking advantage of this, a lot of mass manufacturers are producing machine embroidered goods and selling them at high prices. Another lesson learnt here. Along with selling, I need to educate people too.

 

What are your views on Customer Relationship Management?  How do you approach it?

We believe connecting with customers as friends is very important. We built our customer network through our existing ones. Because we take our work so personally, our customers love to stay in touch. Some of them are so close, they visit us a week before our exhibitions and take their pick out of every lot of fresh stock. Relationships definitely help.

 

What makes you different from your competitors?

We do not have any competitors. We don’t believe anyone can treat work with as much love as we do. Passion yes; love no.

 Images: Courtesy Myne by Aanchal

The Entrepreneur Spotlight for December, 2011 is on Team Chumbak…Currently a small team headed by Shubhra and Darth. Shubhra handles almost everything at Chumbak. She’s the face of Chumbak Shimona is the head and queen of their warehouse. Mr. Vader until recently had a corporate life with the Dark Side. Darth’s kind of the compass within Chumbak. He’s very shy. So we can’t tell you his real name. Ok! What the hell. It’s Anakin Skywalker. Just don’t tell anyone.

 

 

How did you get the idea to begin this venture (detailed description of idea generation & implementation of idea)?

 

The idea of Chumbak started as an expression of our love for travel. Each time I travelled, I brought back a piece of that place in the form or a fridge magnet or some small knick knack. While researching the Indian souvenir market, I found that it didn’t offer much in terms of creativity in its products.  This was really surprising, since India has so much to offer by way of expression and culture.

 

The name Chumbak was something that came up which figuring out what to call the brand. At that time the brand was only about Magnets and we wanted something that sounded Indian, but the tourists wouldn’t have a problem in remembering. Chumbak was in fact the first name we thought of and a quick online search revealed that the web address was available and before we knew it, we had a name!

 

Being a first generation entrepreneur, I soon realized that the market was not limited to tourists and travellers. Young Indians were also looking for products that truly represented their generation. They wanted products that represented India and at the same time, design that they would relate to. Regarding the USP, we’ve always believed that if we were to be successful in this market, we had to have awesome designs and be very reasonably priced. We set ourselves very aggressive price and quality goals.

What were the supporting/motivating factors in setting up this business?

 

I had toyed around with the idea of Chumbak 4 years earlier, but nothing had come of it. Finally it was my husband that pushed me. He gave me the “now or never” speech J I was nervous, since I was a first generation entrepreneur and had put my entire life savings into the project. But at the same time confident that the products would do really well since I knew there was a gap in the market for fun and contemporary products based on India. The feedback from friends, family and retailers was also very positive!

What Is Your USP? 

India is our inspiration and what a subject it is. Living in a country like India, you really don’t have to look far for inspiration. Everyday topics such things you see on the road, cows, people, Autos, everything helps us J The New Wallah range for example is inspired by people you see all around you – the Chai Wallah, the Chat Wallah making yummy bhel puri or the Dabba Wallah bringing you hot lunch.  Sometimes we do themes such as Diwali and then our designs follow a certain theme. We also love patterns and colors.

 

What is your vision for the venture? 

 

We’ve just started. So the vision we have is to be the one point destination for all young Indians and travelers for fun India themed products

 

What sort of growth strategy did you follow?

 

We’re growing the number of stores that we have. We started out with 5 stores and in the first 3 months added 5 more.  By the end of the first year we have around 80 stores. We now have over 150 stores across the country and over 50 stores in Japan.

We will keep adding new products and more designs. As we’ve said, India is our inspiration and the subject is limitless

 

Any advice for aspiring entrepreneurs?

Check out this link to get your piece of advice from Team Chumbak

http://www.chumbak.in/Chumbak/Blog/Entries/2010/10/28_Startup.html

Rina Shah, the spunky lady behind Rinaldi Designs created one of India’s leading fashion accessories brands when she launched Rinaldi Design in 1997.   Her repertoire includes everything from seasonal footwear for men and women looking for casual wear and cocktail designs.  Matching accessories like belts, handbags and coordinated sets of bags, belts and footwear to suit every occasion. 

 

With new lines of men’s and women’s footwear launching every season, Rinaldi’s products are the perfect accessories that create casual charm or drama whatever the wearer is looking for. Eye catching tapestry, leather trimmings or embellished with 3D embroidery in stones and pearls, Rina’s offerings use Resham-work (silk thread embroidery), Swarovski Crystals to create unique collections that emanate style that is bold and confident.

 

Stylish, elegant and comfortable, Rinaldi Design products are crafted by the finest artisans, made from the finest leather and in the best manufacturing facilities. 

Rinaldi’s USP is the ability to play with color, design and embroidery and marry it with material like brocades, combined with oriental prints to create unparalleled designs.  Also known for her elegant bridal collection which is beautiful and functional Rina Shah is a creative designer who continues to deliver customer delight through her creations.

 

Rinaldi Design

29, Adhyaru Industrial Estate,Ground Floor,Sun Mill Compound,Lower Parel

Mumbai – 400 013 (Maharashtra) India

Phone(s) : +91-22-24934492
Mobile :
Fax : +91-22-24918223