The Wisdom Wall

“selling a concept is about storytelling. Somebody might be a better storyteller. He can raise better money. But somebody might be a introvert, a shy person, may not be able to raise money, but maybe he's doing business, maybe much, much better than the other person.”

“Because the consumer is not looking at endorsement brands now anymore. Anybody who comes in, takes money, and endorses a brand, I, I don't think so that works anymore at what used to work earlier, but I'm told that still works in B to B. The dealers, distributors still are okay because you are using some celebrity to…”

“Ronnie believes in constraint, and I believe in abundance. And I believe abundance can create something, because, and I think most of the Indians believe constraint only can build something. So it's a, it's a, it's a interesting theory, and I believe both theories are right. But not many people have experimented with…”

“Because in India today to launch a brand, a DTC brand, you need two stars. One from the south and one from the north.”

“being physical, attempting digital was the biggest mistake, because you can't think digital. People who are born digital, think digital. So you were born physical and thinking digital was adding one more layer, but that doesn't work.”

“Now you can't build a brand on newspaper advertising or television advertising, or outdoor. Now the way to create a brand is completely changed.”

“India one is the consuming class. Anybody who has a domestic help, for me, is the consuming class. Because consuming means not basic consumption, but some value-added consumption. India two is the serving class, which makes our lives better. The driver, the helpers, the peon, the watchman, the liftman. And for…”

“The best consumption happens when the economy is around 7000 to 11,000 dollar.”

“Anybody who has domestic help at home and who doesn't do something with their own hands is India one.”

“no, no businesses start with brand first. Nobody. We strongly believe it is brand design and consumer first. Consumer brand and design first.”

“we are getting formalized as an economy, and formal economy is more expensive than an informal economy. I think that's playing around a little bit. For the first time, the formalization is quite complete now. Yeah. And that is, that means 18% extra. And I think that's a big, that's a big, big thing.”

“So Nikhil, in early days, like Big Bazar was created on three things. Greed, fear, and we used to call it altruism to a certain extent. The brand can be built on this. Greed is that it is available at a lower price. Fear is that it won't be available after a while.”

“And I believe digital brand in fashion has to do X number of stock turns, otherwise there's no sense. Yeah. At least their stock turn has to be in excess of seven, eight percent, seven, eight times.”

“And like in fashion business, on, on digital commerce, you can do 10 stock turns. Where in physical, you can't do more than three, three and a half.”

“I think you lose the idea of capitalistic high. Because you become philosophical after you lose, after you lose a lot. So I think philosophically, I think for me, creating anything new is a good high.”

“I'm trying this creation method in other areas. It just doesn't work. This has been a rare thing where nobody has said us no to be a part of this. Everybody has contributed in some manner.”

“The loyalty factor of this generation is much, much lower because the kind of content and media they get to consume is far, far more.”

“And consumer business is not like cinema, where first day, first show, you are gone, you are gone... There is a whole chance to improve ourselves. The consumer will tell you something. We will change ourselves.”

“So there are, there are codes for every category. So you'll find similar color codes for a particular category. So every category is thought in a particular way. And if you move away from that code, it just doesn't sell. The consumer gets used to a certain, like if you look at the toothpaste, we'll find the red and…”

“Brand means you are getting, instead of a commodity of X rupees a kilo, you are getting X plus, you're getting a multiple. That's what the brand is all about. And you have to position the brand in a way that you can keep on getting that premium until when you will be able to get that premium.”

“Fashion, I would say if you're doing a D to C, not more than 60, 70 options to start with.”

“I would look at opportunity in two places. One is household wares to create a brand out there. Not home decor. I would say anything which goes into home. The cutlery, the crockery, any household. I think that's an interesting product category which people keep, they buy quite often in a way that there are new designs…”

“We believe that whenever a dominant media or communication method changes, everything changes around it.”

“If you look at the multiplex industry, That money of spend, which was supposed to go to multiplex, is definitely to restaurants now. People are spending two and half hours, family sitting together, friends sitting together, and spending that one and half 1002 thousand rupees per head.”

“every marketer's dream is to increase the per kilo or per liter price of everything. From soap to, what do you call, liquid, is an increase of price and upgrading of customers.”