When Meghna Gandhi searched for beard accessories for her daughter, she noticed that they were either alien from China or the US. Nothing of the array was actuality fabricated in India.
Meghna, a above advance broker and an ardent embroiderer and crafter, took it aloft herself to accomplish a few beard accessories for her babe and added little girls amid ancestors and friends. She ordered a few food online and started authoritative the products.
From actuality onwards, there was no attractive back. Meghna invested Rs 25,000 to alpha Ribbon Candy in 2011 and put calm a babyish aggregation to aftermath handmade beard accessories.
Meghna Gandhi, Founder, Ribbon Candy
In 2016, her added babe was built-in which added motivated Meghna to calibration her business. She noticed a gap in the amplitude of a adequate affair abrasion for little girls.
“I was not able to acquisition 100 percent exceptional cotton, breathable, and skin-friendly accoutrement for little girls,” she says.
This aggressive her to alpha an accoutrement vertical beneath Ribbon Candy.
In 2018-19, Ribbon Candy’s sales afflicted Rs 24 lakh. The aggregation now has a aggregation of six employees, and ten women who assignment from home.
Meghna now wants to calibration the aggregation and tap into a bazaar characterised by growing awareness about beard admonishment and accretion alternative for fashionable articles and apparel.
In an absolute account with SMBStory, Meghna takes us through her ambitious adventure and explains her business model.
Edited excerpts from the interview:
SMBStory [SMBS]: How was your adventure from advance cyberbanking to entrepreneurship?
Meghna Gandhi [MG]: My ancestors is based in Vadodara and my absolute ancestry was from here. In Mumbai, I formed with JP Morgan’s across advance cyberbanking arm. I confused aback to Vadodara afterwards my marriage, and I was clueless on what to do with my added time.
Ribbon Candy’s blush affair bow beard accessory
Out of arduous boredom, I pursued CFA and anesthetized the akin one exam. I additionally formed briefly in my husband’s ancestors business. However, I anticipate my assignment at my aunt’s bolt press and accoutrement business fabricated my artistic juices breeze again.
I accept consistently craved a artistic outlet, and capital to actualize article tangible, all by myself. I capital to be my own boss. I was consistently absorbed in arts, crafts and aesthetics. I adulation embroidery, adornment and crafting.
It was alone afterwards the bearing of my aboriginal babe that I stumbled aloft the abstraction of creating beard accessories. That’s how I became an administrator and started Ribbon Candy.
SMBS: What were your antecedent challenges afterwards starting Ribbon Candy?
MG: I had no accomplishments in the beard accessories or accoutrement businesses. The foremost claiming was to accept a actually new band of business from the abstruse and crafts perspective. I feel I am still acquirements the ropes.
Our sales are growing slowly. With the bound assets we have, I ask myself whether to advance in marketing, technology, or bigger administration.
But ability is never a waste. All the accounts and business concepts I advised accept been advantageous and I accept managed to administer them in my business.
SMBS: How did you alter into apparel?
MG: Initially, we were authoritative alone beard accessories. But I saw a big gap in the accoutrement space. Partywear for girls was fabricated from taffeta or added constructed fabrics which were not comfortable. I bethink my daughters capital to abolish their affair frocks alike afore their altogether block was cut.
This got me into cerebration that I should accomplish comfortable, breathable and fun accoutrement for kids. Bazaar analysis showed that beard accessories and the accoutrement I capital to accomplish were commutual artefact categories.
So, with all the accumulated profits and an added Rs 12 lakh investment, the accoutrement analysis was started.
Ribbon Candy’s partywear accoutrement for girls
SMBS: What is your business model? What are your different business strategies?
MG: We are a accomplishment firm. We accomplish beard accessories and accoutrement for little girls and focus on alms adequate and skin-friendly articles fabricated from 100 percent accustomed abstracts like cotton.
We ambition all mothers who like to dress up their kids in adequate clothes and yet attending fashionable. We additionally accept an consign bazaar in countries like the US and UAE.
Our retail action includes online sales on assorted portals including our website and Amazon. We participate in assorted babyish and accouchement artefact exhibitions.
We are consistently attractive at new means to book and accomplish in the best acceptable way. We are additionally accessible to aggravating fabrics like bamboo fibres, or any added fibres fabricated from bulb artificial that are calmly biodegradable.
SMBS: Can you acquaint us added about your team?
MG: All, but one affiliate of my agents are women. I realise and accede the accent of women in the wellbeing of every family. A financially absolute woman is able to breeding her ancestors in a abundant bigger and convalescent way.
We additionally accept the actuality that women, abnormally in a affectionate association like India, accept a lot of responsibilities at home and with kids. So, in our organisation, the agents works for a few hours anniversary day.
The Ribbon Candy team
With the bacon they earn, they are able to accomplish absolute choices such as affairs a adaptable buzz for themselves, or sending their kids to school.
SMBS: Who are your competitors and how are you blockage advanced of the curve?
MG: In the amplitude of acquainted fashion, there may be no above players. But there are brands in the all-embracing kids’ accoutrement space, such as Mothercare, H&M, Benetton, and added bounded brands that are listed online.
Our focus has been on abundance and sustainability and our articles are of aerial quality, different in agreement of patterns and designs, and indigenously-produced. Hence, they are added big-ticket and abiding than the articles fabricated by our competitors.
SMBS: How has the accepted COVID-19 crisis afflicted the aggregation and how do you plan to booty the business forward?
MG: The accepted bearings has afflicted us a abundant deal. Like abounding added businesses, we accept no revenues. There is a lot of ambiguity over back the operations will alpha in the approaching and alike back they do, we don’t apperceive if there will be abiding demand.
However, back we are bootstrapped, we are a angular organisation with costs that are alone actually necessary. We accept cut our business budgets already. Production is activity on and all our agents is alive from home.
We will accept to delay and see how the accepted crisis affects our approaching affairs of ascent up the business. Activity forward, we are additionally attractive at some new innovations in fabrics.
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