In this insightful conversation, Madhumita delves into the journey of Lavish Global, a company dedicated to promoting Indian handicraft fashion accessories worldwide. Arushi, the founder, shares her experiences, challenges, and strategies for expanding her business internationally. Let’s explore how this Indian startup is making a global impact.
1. Madhumita: Arushi, as the founder of Lavish Global, could you start by telling us where you’re from and a little about your qualifications?
Arushi: I’m a fashion entrepreneur and a merchant exporter based in Delhi. I hold a graduate degree in Economics and a postgraduate degree in International Business. Currently, our business focuses on B2B exports, with around 95% of our business being international. We supply handicrafts, all made-in-India products, to clients across the US, Europe, and other countries.
2. Madhumita: It seems there’s a strong demand for Indian designs in the international market. Can you tell us about the demand ratio for these products abroad compared to India?
Arushi: Absolutely. From what I’ve observed, there’s significantly more demand for made-in-India products abroad than in India. People overseas buy fashion accessories, handicrafts, home decor items, and various other products that aren’t as popular in India. The demand abroad is really strong. However, I’ve also noticed that people in India are increasingly interested in handmade products and Indian handicrafts, so the demand here is growing as well.
3. Madhumita: It’s interesting how we often gravitate toward international products, while people abroad are drawn to Indian products. It’s quite the opposite.
Arushi: Yes, it is quite interesting and surprising. The demand is higher in other countries, but I’m also seeing a growing interest in India for handmade products. People are increasingly looking forward to Indian handicrafts.
4. Madhumita: What strategies do you use to go international?
Arushi: The strategy largely depends on the products you want to sell abroad. You need to research the market thoroughly and plan a complete strategy for doing business internationally. This includes finding buyers, meeting them, and creating various snapshots to showcase your products. There are many techniques and strategies, but the key is to understand which products you want to sell abroad or in India.
5. Madhumita: What about networking? How do you create and maintain your international market?
Arushi: We create our international market through our B2B model. We’re a made-to-order firm, developing designs we receive from designers abroad and importers who buy Indian products to sell in their retail stores or online. We work on these designs, which helps us grow our network and maintain our supply chain.
6. Madhumita: Speaking of designs, we’ve noticed that celebrities and people in general tend to avoid repeating designs. What strategies do you follow in marketing? Do you repeat designs or stick to new trends?
Arushi: You’re right; not just celebrities, but even regular people tend to buy and wear something only once. I’ve noticed a significant demand for jewelry—every girl, and even some guys, are getting into jewelry. As for clothing, we blend both old and new fashion trends, creating a mix of modern and ethnic wear. Fashion accessories, in particular, continue to grow in demand, as people love to wear styles they’ve seen or worn in the past, but with a modern twist.
7. Madhumita: What lessons have you learned from mistakes that have made your company stronger? What was the biggest mistake you made, and what did it teach you?
Arushi: I wouldn’t say there was a single biggest mistake, but rather small mistakes we make every day. These mistakes are learning experiences that help us develop ourselves, our company, our employees, and more. It’s all about learning from your mistakes and growing from them.
8. Madhumita: Let’s talk about investment. You come from a business family, so what’s your approach to funding Lavish Global? What advice would you give to others about investment?
Arushi: Initially, we didn’t have any external investment. I started the company with my own savings, around 30-40 thousand, and that’s how we grew. We currently have some investment proposals that I may consider next year. For now, we’re reinvesting our profits back into the business. The pandemic has slowed things down, but we’re gradually growing again, using our own profits to fund the business.
9. Madhumita: How big is your team currently?
Arushi: Right now, we have about five full-time employees. Additionally, we work with around 30-35 part-time women artisans in village outskirts. They work on a daily wage basis, creating handicrafts and handmade items that we sell.
10. Madhumita: It’s great that you’re creating employment opportunities, especially for women who may not have other qualifications.
Arushi: Yes, it’s a good opportunity for them. Many women in villages don’t have the chance to work outside their homes, so this allows them to use their talents and earn a daily wage while staying at home.
11. Madhumita: What is your vision and mission for Lavish Global? What future do you envision for the company?
Arushi: My vision and mission are to create premium, world-class handicrafts made in India and to promote them globally. I want to take these products to both Indian and international markets, promoting Indian handicrafts and connecting with people worldwide.
12. Madhumita: Which companies do you see as your competitors, and what is the X factor of your company?
Arushi: I wouldn’t say we have direct competitors at this stage since we’re still a startup. There are many fashion companies and exporters, so competition exists, but it’s still early for us to talk about it in depth.
13. Madhumita: What are your future plans for expansion?
Arushi: Next year, we’re launching a B2C model with an e-commerce site where people in India can directly buy our handmade products online. In the long term, maybe in 4-5 years, you might see our first premium flagship store.
14. Madhumita: You’ve mentioned the challenges of building a presence in the international market. How do you manage these difficulties, especially in terms of marketing and sales?
Arushi: Yes, it’s challenging because our buyers are abroad, and there are cultural differences, language barriers, and differing quality expectations. We manage this by sending samples before finalizing any orders, ensuring clarity in our products.
15. Madhumita: How does Western fashion culture impact your business in terms of fashion and lifestyle?
Arushi: The impact of Western fashion has lessened over the years as people are becoming more open to different cultures and fashions. There’s not as much of a gap between Indian and Western fashion anymore. People love trying new things, and fashion is becoming more global.
16. Madhumita: Do you have any idols in the fashion industry that you follow?
Arushi: I do admire some fashion bloggers and celebrities, though I wouldn’t like to name them. I also get a lot of advice and suggestions from my fans and family, which helps in developing our fashion line.
17. Madhumita: How do you handle quality control at Lavish Global?
Arushi: We use very high-quality raw materials, especially for our handmade and organic jewelry, which are anti-allergic and export quality. All our products are tested, both by us and our buyers, and we haven’t had any quality issues in the last 3-4 years.
18. Madhumita: Have you thought about incorporating AI into your business?
Arushi: I haven’t really considered it yet, but I will definitely think about it when we launch our B2C market next year. Right now, our focus is on B2B, but AI could be something we explore in the future.
19. Madhumita: Have you faced any major setbacks in your journey, and how did you overcome them?
Arushi: One of the major setbacks was in the initial years. We launched the company in April 2007, and for the first 6-8 months, we didn’t have any sales. I was jobless and confused about what would happen next. Eventually, I shifted our focus from B2C to B2B, and slowly, the business started to pick up.
20. Madhumita: How do you see your journey with Lavish Global, and what does entrepreneurship mean to you?
Arushi: Entrepreneurship is about more than just business; it’s about developing yourself and your ideas. It’s not just about making money; it’s also about creating a life you want and working on something you’re passionate about. Everyone has a different reason for entrepreneurship, and for me, it’s about building something unique and meaningful.
