“Successful leadership is creating a perfect mix of teamwork, freedom of operations without any interference and indulging in healthy competition.” –By Palash Agrawal, Director, Vedas Exports.
Tell us about your journey so far and what brings you to start with Vedas Export.
The journey of Vedas Export began with wooden crafts and paintings and slowly we entered the utility décor segment followed by hooks and candlelight décor. These products have great demand in the market. Currently, we are present in the niche of wall décor, mirror, vintage décor, figurines, table décor, showpieces, office décor, vases wall jail and wall shelves etc. Our products display a perfect blend of ancient and modern design practices. We get a very good market response and are acclaimed for our style, utility and customization facility.
We had sold only one piece in the first month of our operations in 2014. From then, we have now grown to sell more than 10,000 pieces monthly. We have a market share of about 8% to 10% and are available in over 700 stores across India and over 500 stores internationally. The company’s turnover was about 7.9 crore last year and now we have our footprint in 300 Indian cities as well as in 15 countries across the world. We cater to more than 20,000 end customers annually.
While our headquarter is in Ranchi, we have a manufacturing unit in Jodhpur. Our sales include channels such as B2B as well as B2C and e-commerce models. As a B2B brand, we have a direct presence in major stores like Hometown, Shopper’s Stop, Evok, Starmarks, Royaloaks, Pepperfry Studios etc. As a B2C brand, we sell to customers directly through our website and social media pages. We also retail through major e-commerce platforms like Amazon, Flipkart and Pepperfry. Going forward, we plan to enter the furniture segment.
What’s the USP of Vedas Export?
The USP of Vedas Export is our completely hand-crafted, power-coated, rust-free products that are painted using lead-free colours. Our products are totally unique and each piece has a different story to narrate. We also have a range of carefully curated styles and designs that keep up with the market trends of the day. We have kept going a unique tradition of merging ancient heritage in sync with the modern concept of utility. The customized products have been well received in India and abroad. The biggest USP of our products is the affordability and we offer something for everyone. Our extensive price range starts from INR 799 and goes up to INR 64,999. Thus, we are available for customers of all budgets and benefit the entire supply chain.
What’s the success Mantra of Vedas Export?
At Vedas Export, we are guided by the principle of ‘Never give up on beliefs and dreams.’
A good leadership is about creating a strong work culture and a happy as well as a productive team. Vedas Export believes in solid work ethics combined with a healthy working environment, international health standards and safety parameters in place. We have been able to extract the desired results through these practices. Our employees are happy and satisfied and that’s why we have retained 98% of the employees who have been with us since the company’s start.
What are the new trends in the decor industry?
The design trends and preferences have been changing quite drastically. Unlike the past, today the customers are looking at unique yet minimalistic designs. Space is at a higher premium, hence, utility designs are more in vogue and décor items are not just seen as ornamental displays, but, also integrate usability. This is where items like candle holders, wall shelves and other such products are in great demand. Sustainability is another key element. At Vedas, we are highly aware of the environmental concerns of the day and integrate healthy practices into our work. We don’t believe in cutting costs or using cheaper raw materials that could be harmful for the environment. For instance, we use high quality lead free paints in our manufacturing processes. Apart from that, affordability is also becoming an increasing consideration. In terms of design, there is a growing demand for the fusion of ancient designs with modernity.
Please convey your message to our readers?
Successful leadership is creating a perfect mix of teamwork, freedom of operations without any interference and indulging in healthy competition. It is important to take care of the needs of your employees and fuel their ambitions so that they are all happy to work for the organization. Satisfied employees don’t desert the companies and give their best to achieve the organization’s goals. It is a matter of great pride for us that we have successfully retained our staff despite the unprecedented Covid-19 crisis and the pan-India lockdown. It is also important to see your rivals as a motivation source and to work harder, improve your own performance and instil self-belief in your workforce.
SLICE OF LIFE
You believe in taking risk or plan beforehand.
Planning is of utmost essence for me.
Your high points.
Starting from just a single item sold in the first month of our journey, we have reached over 10,000 sales a month with a market share of 8-10%. The brand is present in more than 700 stores in India and another 500+ stores internationally. Last year, we had a turnover of INR Rs 7.9 crore and now have a footprint in 300 Indian cities and 15 countries internationally.
Your low points.
Vedas Exports had sold only one piece of product in the entire month of operation and it took us 6 months to get our first 50 customers. So that was the lowest point of our journey.
Favourite Industry Leader.
A novel you are inspired with.
The lean startup by Eric Ries
A movie that motivates you.
The wolf of wall street and entourage
How you spend your day on day off.
Whenever I get time on the weekends, I try to spend it with my friends and family.
Source of Inspiration.
My work is my passion and love and it is the satisfaction of heading a business driven by happy employees and customers that inspires me to work hard.