We human beings take our lives too seriously. But life is just a time pass. You've been allotted 70, 75 years, or 80 years. We're all doing something to pass the time. So, I'm doing time pass with you today. We all want this to become meaningful. People don't take women even more seriously. People would ask me in an interview, 'What time do you come to work?' I would say, 'What time do you come to work, dude?' What kind of question is that? Fair.
Should we turn this into a pitch then? Would you be interested in coming on board for Chapter 2?
I just have one question, maybe.
So, I remember the story from my childhood. There was a king, and he had a daughter. This is a very bad story. That was...
Good to go? Rolling? Okay, Kishore sir, Ashni. Welcome on Chapter 2. I'm very happy to have you all here. This is the first time we have a father-daughter duo. This is also potentially the first episode of season two of the Chapter 2 Podcast. So, welcome. Thank you for coming.
What I found really interesting when I met you guys in your house recently... and thank you for the lunch, Marwari food is very yum. ...is that there's a very interesting dynamic in your house. Especially cause there are three women. So, the Alpha male and three...
Oh, your daughter! Four women. So there's a yin and yang balance that I see.
What I found interesting, I always think about this code by Jim Morison. For any large-scale revolution to happen outside, it has to take place inside. A personal revolution has to happen. So, today we're here to talk about the personal revolution that both of you may have had. Individually together, or all five of you would have had as a family. So, I'd like to start with Ashni. Ashni and I have bonded over some coffee and some meals from time to time. I find it very interesting, I find you to be a very wholesome person. In the sense that I know that you're in your Chapter 2. You had a personal journey and a new phase of your life has begun. But nothing about you seems to me as incomplete. You don't seem to be waiting for the next big thing to happen to you, or the next stop. So, I want to know a bit more about this ideology and your thought process and what essentially makes Ashni, Ashni?
So, Rhea, I think it has been a journey. I think when you start off, you're in this phase of doing, and you're constantly doing and you're constantly chasing. And it reaches a point where you just want to be. And you embrace everything that you see and is happening around you with a certain amount of objectivity. This journey didn't happen to me overnight. Like you said, I think there was a breaking down moment in point which happened. And for me, it happened simultaneously, both in my personal life and also in the identity of work and the identity of our Chapter 1. It broke down almost at the same time. So, that journey of understanding what was happening and finding one's next chapter is that journey that one has been through, that mess, that sort of turmoil. I want to believe one has wrapped up and now we're at the beginning of chapter 2 in some days. And I think in that mess, and in that Manthan that where you're churning, churning, churning. You decide what is important, you decide what to leave behind, you decide what you want to embrace, what you want to take forward, and only focus on what matters eventually. For me, all that matters now is my child, my family which is the core of our identity, at least mine. Which is the five of us. My sister, my parents, me, and Ashvi. And my book, and my work. Because I think the purpose of what we're doing is far more interesting than what we're action in today. So, our vision is very big, but we're gradually moving forward.
Okay, I want to understand, I want to come back to this vision, but before I go there, you said something interesting. You said that the thing that was crashing was happening together. It was also happening for him, for you, and for the whole family. Is it kind of your strength that becomes your weakness, but as a father to you when your entire professional life is crumbling and your daughter is going through something personally? How do you be there for each other and lift each other? Two wounded people at the same time.
I'll say by saying an interesting proverb I don't know why I'm saying this but, one doesn't feel more pain after a huge pain. So, the pain was so big in a way because your thirty to forty years of work, all crumbling before your own eyes. Everything is happening in front of you. You always felt in control of everything of what you did in life. So, you're in control of the business, you're in control of the family, you're in control of the entire ecosystem. And things don't work out the way when nothing is in your control. So, I think you don't feel any pain in any way. So, there's a very nice code that I live by, which is the heart breaks until it breaks open. So, now, it's not that you don't feel pain, the heart doesn't break anymore. It's just open to experience life, whether it's happiness or sadness.
But sir, for a man at your level, The Retail King of India, as they call it. Who's going for it, you know? Pantaloon, Big Bazaar, success, up and up. Everyone's talking about you, it's become this big giant of a business, and then it crashing. And now you're here, building everything differently and in a new way, and your new Chapter 2. What is that loss?
I think the identity of men has a deeper relation with his work. You know? This is who I am. I do this and I am this. When that identity breaks, what remains? Surprisingly for me, the life hasn't been very different. My identity never got lost, and today when I take flights, I'm at the airport, I'm at the public space, there were 55,000 employees directly employed by us. There were more than 14,000 vendors and suppliers. I bump into them every day, and then there is a new generation that has watched some of my podcasts and they come back relating to me. They don't know the other story. They know the story from the podcast days. So, I'm getting more interest in me than ever. I can't believe this. Because somebody who has lost everything, somebody in India, people don't look upon people who have lost in life. I've been fortunate in a sense that I get more recognition now than I got ever in my life.
How can it be 100%? I'm surprised.
I'll tell you why, sir. Because I
People lost money with me. People have lost quite a few things. So, it's not easy.
But they see the resilience in you, right? They see that you're brilliant. Something happened and it didn't work out. But has the resilience to do it again or try again.
That is some story but I'm not able to decide for that story yet.
Do you find it fascinating?
I find it very interesting, I want to decide on it. And it's a very interesting story for the country. For people to try, fail, and come back again. I think that's a story that needs to be heard, which needs to be told and people will get confidence.
Because in India, once you're gone, you're gone.
Yes, largely. In a business, coming back is an interesting story.
But what I meant to say is that there's a certain validation that comes through the work you do.
I understand that. But still, people love to talk about the follies and mistakes of the people. People don't want to talk about the good things about you. There's a good thing in every one. So, we're lucky. I'm saying we're very fortunate.
You're saying you're very fortunate in this and it hasn't really...
Yeah, this has not come in a negative way.
Is it that it didn't come in a negative way, or you're just a positive person that everything turned around?
But you know that current world, the social media, the trolling. People don't leave anybody. People don't spare anyone.
Yeah, but I don't see that much trolling around you. No, I've been fortunate and lucky.
I'm an exception, I don't know why.
I'm also discovering that maybe we'll discover through a remark that will come on this podcast. Maybe we'll lose cover on this podcast.
Yes, as a family we're extremely close. Like terribly close. So, I think two or three things helped all of us make sense of what was happening. One I have to say is the role of his friends. The unconditional support of his, I think childhood friends or I don't know wherever they joined in his journey. Every evening at around 10 o'clock. We used to have something that my daughter named the Lukhacaul. It was also Covid time and they'll Google Meet and they'll talk rubbish. They would one day be narrating some poetry, and the next day they're pulling someone's leg. On why that person is wearing what he's wearing, and life would just go on and go past. So, that was one thing that I saw which was incredible to see, how these lukhas that we now call them, came together to do nothing with each other, and that was a healing experience in its own right. I think the other thing was, I was by then living back again with them. I think very clear for as is we if someone can't sleep at night, we're cuddling up together. No matter if the bed was big or small, we would sleep together in the same bed. And that is just amazing. There's a strength in there. Yes, there's strength in there. You can't explain, then you have to experience or live in some sense. So, we all would sleep together. That's what we do a lot. and I genuinely think we've been very lucky. That we have not heard the taunts. We heard other things but we have not heard the taunts. Otherwise it was quite unforgiving you know, the world is unforgiving.
What I'm trying to understand is, let's go back to you guys as a family. Pre anything. Pre all of the success, pre the crumble, pre the re-building. All of that. What was childhood like, what was her growing up in front of your eyes, you growing up in front of him? What was that feeling? What was a regular day? Is there a childhood memory that you want to share with me that you came back from school and this happened or that happened? Something that you remembered starkly, and then after that something that you remembered starkly.
I mean, for me, my childhood memory, as a child, I couldn't sleep till he was home. That was my memory and he used to travel a lot. So, for me, it was important for him to come home, are the same memory he still does this to my daughter and he doesn't do it to me, thankfully. I have grown up enough. He presses our legs when we are sleeping. How sweet! Yeah. So, he'll press my daughter's leg even now when we are sleeping. That's my favorite memory. I mean that is something unheard of. I think it was done with me, it was done with Abhi and now he's doing it with Ashvi. How sweet! I would think that sometimes when your parent is that successful and working so much throughout your teenage years, they're a bit absent. Because they're traveling a lot, and they have to build the company for the future, they're working nine to five. But if they make up for it in these kinds of ways, yeah, and I always felt like it was continuing, genuinely. discussion on the dining table like you must have seen that even in recently. It has always been the same. We were talking about customers, we're talking about with stores what is happening, what are the new trends we're seeing, what to do about this. Even if we have nothing to do with it, we talk about it. We talk about it. So, that's what we did even back then, that's what we do even now. That's what our average day is like in some sense.
Nice. So, you're giving me the sense of a very normal loving family.
Sir, from you?
I think of going for a drive every evening, taking the children, and listening to music. My favorite music.
Muhammad Rafi. All the songs. It's from the 60-70s, to whatever was popular then.
So, just detouring for a second, if your life was to be a song, one song. What would that song be?
That song is the famous Muhammad Rafi song, Main Zindagi Ka Saath Nibhata Chala Gaya.
That's a life anthem. Fair enough.
From a father's POV, when you're seeing her, now grow up to be this entrepreneur businesswoman, all of these things that she's doing, what are your thoughts about letting go of control, we often feel that with the younger generation, Good question!
So, in a way what they're doing in a new business is what they're doing. So, my role is now to provide them with whatever they want to know more, rather than me telling them what to do. So, that's a big shift. They don't work under me anymore. So, that's a big shift.
But still, if your dad is this person, that you are. This person's Future Group, all of these, Kishore Biyani, the retail king. You'll feel the shadow.
I think they must be feeling it a little bit. They'll worry about what I'm thinking about what they're doing. But I'm not so much involved, to be honest. And I can only advise them what not to do, and what to do. And they drop on me, whenever they need to.
I think, we were building a relationship that is now coming alive, I would say. That they drop on me on anything rather than me telling them what to do. And it's not easy to kind of work with your family members.
Yeah, it's not easy, for sure. Because there's more at stake, right? You go back home to the same people also. So, it's not. And there's a personal, professional mix that interlinks, if you're a little bit upset about something that has happened a moment can come out as frustration in work.
Yeah, but for us, that's always been a part of life. So, that is not as much struggle to distill between the personal and work.
I am telling even now it a continuing. You know work and everything that is happening, and life is seamlessly happening. So, that is what our model of life is to some extent.
I like it. Model of life. We have an interesting take on life. Please I'd love to hear this.
I think, interesting take on life is, like, recently I wrote to myself that life is a series of events. And there will be some great events, some good events, there will be not-so-good events. Face every event and it will pass on. Nothing is permanent. And no hardship is going to be permanent and no good thing is going to last forever.
Do you know his theory of time pass or not? No. Maybe you should ask him. What is your theory of time pass?
I wrote it in my book a long time ago when I wrote it, that we human beings take our lives too seriously. We are a speck in the whole universe, the cosmos. We're only imagination, which is special to us as a species and we are consciousness. And we imagine everything, we debate it, but life is just a time pass. You've been allotted 70, 75 years, or 80 years. We are all doing something to do as time pass. I'm doing a time pass with you today. And we all want this to be meaningful. Otherwise, how do we survive? We'll be mentally unwell. So, we have to find a purpose in life, we have to find a reason, but ultimately it's all time pass.
It's a very profound statement. Somebody who understands it, they always call me up after many days and talks about this. Time pass theory.
He had it from before. Oh, you had it from before? Yeah, this was forever. This is like, why do you take it so seriously? If you go to about it thinking that, this may happen to me today. One event, then the next will happen. Move on.
That is true. But you know even if know these things, when you're going through it, it still feels like everything came crashing down on my head.
This is where the problem starts. You're nothing special. Everyone is going through something. You're not that special.
Basically, you're not that special. I think that's a great upbringing.
I wanted to understand since you said that yes, I see that there's a bit of control, I know he is not agreeing to the fact that there's a bit of control. Is there any philosophy or belief that he lives by, or he works using that philosophy that you kind of disagree with, a contradictory view on?
Yeah, yeah. There are lots. There are lots of things we discussed and debated. Like, he has a thing, that whoever comes by does some work with him. Like when we were looking for people, we were finding people, we'll do it very methodically, that I want it like this or that. He'll hire the first man that comes. So, intuitively doesn't make sense to me, it may make sense to him. But I can't do it. I can't do it. You have to feel that the person is right for the job to connect with the person. I have to feel what I have to feel about working with a certain person. But he's far more allowing in that sense.
No, I think they don't understand the subject of what I'm trying to say. The subject is training people in decision-making. So, I remember the story in my childhood, there was a king, and he has a daughter. This is a very bad story. She was never ready to get married. So, one day, the annoyed king said, I'll get her married to the first man I see tomorrow morning. So, I think decision in life... what are the options of decision making? Yes, no or maybe. So, there are only three options. And you'll never be wrong by 50% because yes or no is the majority of the answer. So, what is the problem in taking a decision?
Especially if this is the story, there are many things wrong with taking the decision. There are many things wrong here. The king is not a fool that he will get her married to the first man, he can play around with it and get the right man. I think he's not caring about the nuances.
I feel like in this generation, we want to know everything. No, no. I think this generation can't take good decisions. Can't make good decisions? Or are indecisive? Are indecisive.
Yes, he thinks we are indecisive, which is okay. But I want to do things when I understand them fully. He did so many things, I'm doing a few things. I'm going to do them damn bloody well. At least I think so. At least I think so and I believe so. I don't know how much we're doing it but that's the way I see it.
So, this is obviously a debate and a conversation that is happening between all. Me and my dad have it, you and your dad have it. They feel that we don't decide, we think too much, and we overthink what we feel. This can happen to anyone. Come on let's go.
What are the other things that are like this? That you don't agree with?
You know I think it's just a generational thing for example. But he has a problem if I eat my diet food. Very lame, but I don't eat dinner with him now because I'll catch up after dinner, and I eat dinner early. I can't eat dinner at 8:30-9:00, and so on. He's like, why can't you eat this, why can't you eat that? I can't. It doesn't work for me.
So, he wants you to eat normal food. Yes, eat normal. Why is my daughter not eating all these. Why are you being so fussy, why is it such a problem? Then he calls it chemical problems, you have chemical problems. I'm like, it's not a problem, it just doesn't work for me.
So, what are the things that you're seeing, now that she's handling the reigns of the business? Obviously, there's a part of you that wants to be like, don't go left, go right. Do this, not that.
One of our friend is 50 years old. So, he is a friend to her and friend to me also. So, he told me he went on a certain journey where his father relinquished everything to him on one day. When he explained the journey of a decent-sized business. And one day, his father said, you take care of it, I will not come to the office. But that has inspired me a lot, and I'm trying to do a similar thing. I'm not saying that one day I'll not come to your office. But I think we have reach there.
You have reached the comfortableish...
Yeah, by design, by default, by compulsion. I think, by all means.
Yeah, and I feel we're really lucky to be building width with wisdom. I think it's so rare to find a certain level of wisdom that no amount of energy can replace. So, to just build with wisdom, and luckily I also feel that in this period, we got a lot of wisdom. When the breakdown happened, he got so much wisdom, and that's why he wrote to himself and it all sort of got more clearer. That clarity is more important than smartness at where one is at now.
Fair enough, and I think it comes back down to from clarity that you can make better decisions, once you know your priority. That's why you can find the right person in the next morning.
Now if anyone wants to get married, they can just marry the first person. This is the only advice from Kishore Biyani sir that you must not take, all other business advice we will take.
I was excited to do this today because as you all know, as I have told you all. I have a really small startup called Chapter 2, that me and my brother Shouvik have started. And it's clothing, it's a barrel, it's D2C. Very excited to sit with you all and ask you a million questions that we would like to ask.
So, sir, the first thing is for you. How is a small company scale's do's and dont's?
I think I have seen the products, I've seen the brand, I've seen something about the I think the brand resonates. The brands come together, and the personality of the brand is reflected in the clothing, and the apparel that you have done. Plus the category which you are in, which is, Bridge to Street. is a category that is probably replacing the casual wear category that is doing quite well. So, a lot of things are right. So, you need somebody like us who can give you some free advice for some equity.
I would love to give you equity. Potentially not free, potentially discounted.
I don't have money to give, she has money to give.
Should we turn this into a pitch then? Yeah. Let's go for it.
Okay, so would you be interested in coming on board for Chapter 2? We have started in August 15 of last year. And as of January and February where we sit, we're at 50 lakh revenue a month. A beta positive, and we have also made a profit of 6-7 lakhs on each month. We're looking to grow and scale to maybe one crore revenue in the next two to three months. 15-20% every month. and we're looking to open our own retail store on this very linking road very soon. Like in a month or so. So, since sir had a very wise idea, and you are the one with the money. Let me ask you, would you be interested in coming on board?
I would. I just have one question maybe. What is more important to you, just scale or making money?
Scale or making money? What would you choose if you had to? Both, no? But if you had to choose one, there will come a point where you have to sometimes, somewhere make a choice.
I am an army officer's daughter, I have lived on a debit card my whole life. I like to remain within my means. But I do understand that you need to take a little bit of risk every now and then to grow the brand. Having said that, I want to sleep well at night. I don't want to have debt, I don't want to have a beta positive on my books. I want to have some amount of profitably. Tomorrow, if the market sinks, if the world economy crashes, if consumption falls down, I should still be in a good place with my business. I should be able to pay my employees, and I should have that run rate for the next two to six months.
Good, you've already learned everything, we did from Chapter 1.
So, tell us what stake and money?
We're looking to raise a crore rupees. Since we're already doing 50 lakhs a month. We would be happy to give 8% for...
10% and we have a deal. 10% pre-money? Yeah. Yes, okay.
Yes, we have a deal! Oh my God! Congratulations to all. Wow! This podcast has turned into something else. How exciting, I need to call my brother and tell him. I should call more entrepreneurs on my podcast.
You raise money very quickly. So, she learned decision making today. You took the first person that wanted to make a deal. Decision-making is so simple. You don't have to like the person. You have to like the product, the category, the sector which you understand a bit. Take a decision.
Wow, one second I still thought..
You're getting 5-6 lakhs view in a podcast, business will be good.
Yeah, we will write all that down, that Rhea needs to wear it this way. The deliverable. Well I'm always wearing Chapter 2, I always live in it. But this is crazy. I didn't expect this morning when I woke up when I was like, okay. I'm going to meet these people. I have so many questions about how to run a business, and how to run a brand. I never thought that I was going to get funding from you guys. This is so exciting.
Okay, moving on, we still have a podcast to do. I do have some more questions for you all about business.
So, with the coming of AI, which I don't understand that well. I know everyone is scrambling around to figure out what will happen. What do you think will change in the next couple of years? What will change for D2C brands, and what is the future of retail business in India?
Yesterday, the media announced the results and they were talking about how they released some products around retail. And it was all about personalization. How can one create a personalized journey? So, if I know you through your media, through your comment, how can AI help you to personalize your outfit, personalize what you should wear for, what hour of the day, and what event? I think personalization will become big with AI as it goes deeper and deeper. So, that's one big shift that I see is happening. Secondly, I'm seeing experiences taking a big role in the retail environment. Normal commodity, anybody can buy. On a quick commerce, you can buy by calling up somebody or e-commerce or it's available. So, why would you go to a particular outlet or a particular store? So, there has to be a reason. Unless you don't get that experience. At least, it should stimulating some part of your brain. It should affect you through smell, touch, or all the experiences, all the five senses, at least three of the senses have to be involved. So, it cannot be a basic retail store. You can't. No one is interested. They can buy online. Experience will become a big role, personalization is a big thing. More technology will come in, but I think these two things are going to be much bigger.
I think human beings are the most adaptable creatures in a way. You have dealt with life and pressure differently. So, one gets used to it.
Yeah, I'm good with pressure but I'm just not good with AI. But we will all adapt like we adapted to the... We are using a mobile phone, we are using WhatsApp. So, that was that then? But AI will bring in their agents. You'll have house agent, you'll have your shopping agent, then you tell your shopping agent what you want and then they will deliver.
So, the human resources that we require to run a brand, will probably decrease? We don't know what will happen. Maybe there will be more activity which will come about. Maybe human beings will become smarter. They will do more things, some things will be done by the machine. I think the need for creative humans will really grow. To push ourselves more creatively, and philosophically also.
Philosophically? I mean, even right now one of my pre-condition for hiring someone is that their answer should be better than the chat GDP answer. Because everyone can... We have already risen above certain levels.
But Chat GPT is pretty damn good. Don't tell her more, she'll increase the valuation.
A done deal is a done deal.
What about quick commerce? Quick commerce is changing the rules of the game. and he rules of engagement, the rules of... I think they're changing the kitchen habit of the consumer. People are not storing earlier. When we created Big bazaar, people used to buy in bulk. We used to sell packs of ten/twelve/large packs. That was the market that we created. Cause people used to come in cars to fill up their boots. Look at the way the world has changed. People are buying only for the next two days or one day. They are making a recipient call for stuff. So, the world is totally different. Everything is available in ten minutes.
But I have read your thesis. That, India 1 and India 2 thesis. To understand what is the consumer world like. But with the coming of quick commerce, and brands like apparel, at least we take time. Like today, I can deliver the same day in Bombay but I can't deliver the same day in Delhi. Delhi is not a category where you want it at that moment unless there's a specific occasion for which you're missing something. You don't think it's a... I don't think so. I think we're taking it too far. Secondly, you can't create warehouses and dark stores which can deliver in ten minutes, and hold and stock so much. What sizes of hold and inventory? It is not possible. Because it has to be a fast turning around stock. So, people are creating some master warehouses, then the satellite warehouse. People are creating a lot of ideas. But I don't see it going so much deeper in India 2 also. And I'm not saying it going wider in categories.
Actually for my viewers, since we're talking about India 1 and India 2. Would you just care to explain, India 1 and India 2?
India 1 is like we said the consuming class of India. People who consume more than a hundred thousand items in their lifetime. They're consumers. They're around 10% of the population of India. And they live in an apartment, they have a four-wheeler. and anybody who has a domestic help is India 1. India 2 are the people who make our lives better, India 1. The domestic help, the drivers, the peon, the watchman, the liftman. There are a lot of people who facilitate our lives to live our lives better. And then the India 3 which is the struggling class. The farm laborers. They're struggling to get three meals a day, and basic living. India3 may consume ten thousand items in their lifetime. And around weddings, they consume more of the items. India 2 is becoming aspirational. They consume around maybe 10-20 thousand items in their lifetime. India 1 consumes like anybody else in the world. So, there are three distinct India in terms of consumption. India is a unique country. Seven major religions. We have 3400 caste and sub-castes. We celebrate 72 major festivals every year. With the most heterogeneous country in the world. So, it makes the market interesting, it makes India interesting. On average, we have around 181 days when India can fast. Ekadashi and all that counted for. 181 days on average India fast. But for us, fast doesn't mean fast, we also feast along with that. You can eat makhanas when you fast. Yeah makhana is fast.
Otherwise it was so confusing, like you said, India is so vast, and there are so many different religions, they say after every six archers, the water changes, as well as the language. India changes.
So, who are you catering to?
So, this thesis was very easy to understand.
Are you making a t-shirt for India 1, India 2, or India 3?
No, we have broken up India one further. Into Singapore, Poland and Mexico. Singapore is around 55-60 lakh people. As much as what Singapore has. They have similar GDP. They're 15% of India's GDP. These 50 lakhs people.
These 50 lakh people, you know, I would at least 100000 of them, We all know them.
We all know them. They attend all the weddings. They're part of Bombay Times or all the social reels. And Viral everybody covers them.
Then there's Poland. Which is another affluent people, they're rich people having surplus income. And they can't aspire to be India 1. Singapore is a different crowd. And then there's Mexico in India 1. Which is around Eight and half crore people, living in apartments, having domestic help but still surviving on EMI's. So, therefore their consumption is still on EMI. Education is seen as the biggest lever to upgrade and make the next leap in life happen. And for Poland, a lot of what Poland does comes from what Singapore does. So, they copy a lot of what Singapore does but... They want to know what Singapore is doing. They are the ones who are also stalking you.
It seems you're giving me a lot of Delhi vs Bombay. I get it. They're very similar. Then there's India 2, I think the next generation of India 2 is now getting into modern consumption. That will make India interesting. But I feel that's where India 1, the third level you explained. This is probably where quick commerce comes in because you don't have disposable income of that level where you can order everything in bulk. But you do make enough money to order what you want and when you want it. Quick commerce works better in apartment and density areas. Dense areas because you can't provide to everybody and anybody. And all the dark store needs to have at least a number of orders a day. That's the big thing for them. Unless they don't get 1500-1600 orders, a dark store doesn't become profitable. So, quick commerce is something we don't have to worry about? You understand consumer behavior, branding, and marketing, and a lot from the conversation we had and the work you do. What is one consumer behavior that you find bizarre?
So, right now for example we work with the top 0.4% of India, Foodstories for example. Foodstories is a premium Gourmet platform. They sell physically and also digitally as well. One of the things that surprised me and amazed me is how there's a new ingredient trend happening every two months. And the trickling of that trend is just fascinating for me. For example, Matcha is a Japanese product. Very fine subtle taste. Today I can take you to the streets of Jaipur where there are small chai places. They sell matcha. I'm just amazed at how ingredient trends trickle down so fast into mass trends in some sense. But one thing that we've learned doing Foodstories is that this Singapore or this 0.4% of India, there's is finally a space like us where they feel they belong and they should shop. In the way which we serve them... They relate to the place because they felt it has been created for them. They want exclusivity, they want privacy. So, for us, it's more about privacy, it is about the relationship they're selling, it's about personalization as you mentioned. We would know what our ex-customer would like and we'll buy next. So, that's a very important part of it for us. And the other thing is also very important, it's consistency. Consistently giving them this quality and this service, both.
And you're saying that then trickles down to if matcha comes in, then matcha goes down. If some kind of honey comes in, then it soon becomes a thing, and that's quite strange, right?
For us, the attempt is to always understand what is the next tea status marker. What is the next vanity driver? So, that is the new project that we're doing.
How interesting! Yeah, that's very exciting.
I feel like I'm going to be a fly-in-the-wall and all of these.
100%, and now you're my investor also.
Along with the funding, I'm also demanding time from both of you.
For that, I take another 10%.
For you for free. So, I also want to ask you since we're also looking to go into retail as a brand. I understood what you said, about making it experiential, making it five senses, six senses. Something more than just selling. But is there a particular trend that you see outside of this, that no one is paying attention to in detail?
Yeah, a lot. I think fashion is a very impermanent business. This style, or this particular fashion type might not survive maybe another one and a half years. Another two years. So, how do you design something, a brand or a business. which will be metamorphosing every time? And how are you going to be up for it? Because we all make mistakes on our successes. And our success, you will get success on this product, but you will always believe that this will sell, and this will not sell. You never know.
No, it will never sell. After a particular point, you have to change. You have to ensure you destroy yourselves or before you get destroyed. Destruction is a part of creation. And you have to be okay to let go of everything that bought you success.
I mean, I'm nowhere there. I'm still very lost and confused. I'm like, oh, T-shirts are selling very good. Very good, this month, we had so many sales. Okay, I have wanted to ask you all some quick questions. Should be quite fun. Each one or the other one, but you can care to answer for each other also. Ashni's favorite childhood memory.
Being in a car with me and listening to music.
Sir's most used business phrase?
What's in that? I love that! Correct?
No, I think some people commented that I use the words 'Don't play Tiku Tiku.' This is his favorite word with me. If you go to him with a problem. he'll say, 'What's in that'.
One thing that's always in his pocket outside his mobile phone.
