Geetanjali Bhattacharji

Great that more on our joint study with The Womb and Times of India is coming out. 👍🏽🙏🏼 #Marketing #Business #Strategy #Effectiveness

1

Today's #SpotlightMondays is on the sparkling OGs of Indian strart-up ecosystem - CaratLane - A Tanishq Partnership. Mithun Sacheti and Srinivasa Gopalan started Caratlane in 2008 with a starting capital of 1cr. Coming from the family behind Jaipur Gems in Mumbai, Mithun had studied Gemology in the U.S. to join and run the family business for eight years. One day he decided to do something crazy - Sell jewellery online! After facing numerous rejections from VCs, their breakthrough came with funding from Tiger Global Management. The journey from 2008 to 2016 was challenging—revenues soared from zero to ₹132 Cr, but they faced significant losses of ₹63 Cr. In 2016, Caratlane was noticed by the Tata Group, who were setting up their own jewellery empire under brands like Tanishq, Mia, Zoya. They bought a majority stake, giving Tiger global a full exit. In 2017, Mithun Sacheti met veteran investor Rakesh Jhunjhunwala who later became his biggest mentor and guiding force. Despite continued revenue growth (₹621 Cr in FY20), losses persisted. They raised ₹99 cr from Tata group in 2019 at a valution of ₹900cr only. They finally turned profitable in 2021 to their revenue reaching ₹2177Cr in 2023. This was also the time when Tata group bought out the entire stake of Mithun Sacheti for a whooping ₹4261Cr, making it the second largest exit for any e-commerce founder in India. Their product strategy has been multi category - from a child's first jewellery to everyday pieces to statement wedding designs. Their revolutionary offering was the democratization of Solitaire buying. You could go on their website and select the exact size, colour, clarity of diamond for your jewellery with authentication and at prices that a common man did not have access to before. Their distribution strategy has also been omni-channel - spanning over 123 retail stores across 45 Indian cities and shipping globally to 132 countries like the USA, UK, Singapore, Dubai, Australia & Canada. Mithun Sacheti's journey has not been an easy one. But it highlights a few important takeaways: 1. Persistence Pays Off: Staying the course increases your chances of success 2. The Power of Mentorship: With guidance from Lee Fixel, Rakesh Jhunjhunwala, and Tatas, Mithun leveraged the wisdom of his network 3. Customer-Centric Approach: In an industry rife with non-transparency, CaratLane stood out by prioritizing trust and fairness PS: I am very curious to see how Caratlane evolves to tap into the growing market of Lab grown diamonds.

21

"Gone are the days when carpenters went to homes to make furniture or people went to a local store to pick up what they needed. Branded retail showrooms are coming up everywhere and Tamil Nadu-based companies are giving big names a run for their money. The concept of branding picked up in furniture retail in the state after the launch of Woodpecker Furniture two decades ago by S Swaminathan and S Vijayalakshmi. “We wanted to make a difference in the market in terms of product, policy, service and transparency 20 years ago. That’s the reason for promoting and establishing a brand,” says Swaminathan, managing director, Woodpecker Furniture. “Furniture is associated with wood and woodpecker is a common bird and, hence, we chose the name as our brand,” he adds. Commencing operations from a house after the couple returned from Indonesia, the company has expanded with three branches in Chennai. It is foraying into six districts including Thanjavur, Trichy, Madurai and Coimbatore in the current financial year. Retail showrooms are key in the furniture trade as customers visit them to check out the various brands for their product category before making a choice. This is in contrast to the white goods and electronic gadgets market, where people make a decision on the specific product brand and later visit retail stores to purchase them. Coimbatore-based Newmen’s Furniture & Homestyle, which started off as a furniture manufacturer in 1974 and opened its first retail showroom 25 years later, ventured into the branding exercise much later in 2017. Thanks to branding, it has expanded to Salem, as well. Its chairman J Ramanathan says, branding is the need of the hour as people have got an awareness about it. “For instance, we market four top international brands -- Kuka, Ashley, Dash Square and Natuzzi. Customers, who want to buy such premium brands also look at whether the shops selling the products are also branded,” he says. Another Coimbatore-headquartered company, Repose Mattress, which largely manufactures mattresses and entered cot making on a small scale, is setting up standalone retail experience centres in Chennai, Bengaluru, Hyderabad and Coimbatore. “Retail showrooms are taking branding on a big scale because the unorganised furniture market is tilting towards organised segment. Moreover, branding creates trust among the customers and it is vital in our sector because furniture is used for a long period,” says Balaji V, director - marketing, Repose Mattress. The value of the Indian furniture market is pegged at $32 billion, with a compound annual growth rate of 20-25%. Industry sources estimate that Tamil Nadu would account for about 10% of the country’s furniture market." Full report: https://lnkd.in/eAR6s8ej

10

Brand purpose is your brand’s superpower - Karen Bailey 1. Purpose driven branding is about connecting your brand with causes that matter to your customers. 2. Brands captivated with purpose aren't distracted by comparison. 3. The brands that will thrive in the coming years are the ones that have a purpose beyond profit - Richard Branson. 4. A great brand taps into emotions. Emotions drive most, if not all, of our decisions. A brand reaches out with a powerful connecting experience. It's an emotional connecting point that transcends the product - Scott Bedbury Shared below is a powerful purpose driven brand communication by Clinic Plus - An ode to all the daughters. Hindustan Unilever Limited (HUL) is the parent company of Clinic Plus. HUL launched Clinic Plus Health shampoo in India in 1987, and it is the country's best-selling shampoo brand. Richard Branson Karen Bailey Scott Bedbury #BetiBannKeAana #BrandPurpose #Branding

24

#IndianPRAgencies | Want to stand out in a cluttered market and boost media visibility? Here’s a list of public relations agencies helping build and drive narratives that shape public perception and corporate identities Adfactors PR Avian WE Edelman Genesis BCW Ketchum Sampark MSLGROUP India Perfect Relations PR Pundit Havas Red #Value360 Weber Shandwick Story by: Mishika Bangia #PR #PRAgenciesIndia #PressInsider #IndiasGlobalVoice

6

Even tech marketing today relies on consumer insights & emotions... the intangibles. Intangibles of taking you on an experiential journey into the past ...evoking NOSTALGIA and then helping you imagine the FUTURE where digital trial of wearables will become a 'must have' and not a wow factor. Google's modern digital interpretation of the familiar mela may seem far-fetched today, but the metaverse is no longer a distant concept. Just last month, Shopify and Roblox announced an exciting new integration. Soon, brands on Shopify will be able to sell physical items directly to users within their Roblox games and experiences—without ever leaving the platform. This pilot starts soon, with a full rollout planned for 2025. Brand building and marketing stand at a pivotal moment. AI, AR, VR, and the metaverse are no longer just buzzwords—they’re tools to transform our creative ideas into reality. The key is to ensure the brand stays true to its core, and these tools are not used to just entertain! Note: this is not the complete ad of Google Pixel, its a cut of the portions which show metaverse as a possibility.

12

1 Comment