Features - Entrepreneurial Alumni
Posted 01 August 2015
August 2012 Intake
Kanika is a graduate of the University of London International Programmes and currently resides in South Delhi. She is currently launching her own business KlosetEdit, an online market place for resale of designer womens wear. Kanika explains, "we resell never been worn and gently used clothes, shoes, bags & accessories. We swear by collaborative fashion and sharing economy is the heart of our startup! As a Co Founder, I am involved in everything from marketing to logistics! My expertise lies in client relationship management, I go above and beyond to build strong relationships with our customers to ensure long term loyalty.
As a people person, I absolutely love talking to prospective customers, educating them about the concept and getting them on board! Basically, I convince women to Edit their Closets!"
What inspired you to set it up?
Having done the Mountbatten Programme, I learnt so much from my peers and seniors that I felt I could take on any challenge! So, when my friend and I got talking about this startup, I felt more than ready to take on this leadership role! The idea was an outcome of a long conversation between my friend and I, which revolved around 'I have nothing to wear but there is no space in my closet!' Especially in a country like India, where weddings are such an integral part of our lives, women spend lavishly on gorgeous yet very expensive Indian ethnic wear, which they don't wear more than a few times. Thinking of all these things, we realized that solving this problem would not only increase the utility of womens wear but also such recycling is very eco friendly! Having worked with senior managers in London, I was skilled to consider the 'helicopter view' - long term vision of the startup and also, to go into the detail of everything. I can confidently say that only because my manager groomed me professionally and gave me the opportunities to live up to my capabilities, was I able to believe in myself to lead this startup. I am sure that my mountbatten year is and will be the defining year of my career!
How you went about setting it up and getting established?
We started by extensively researching the market and understanding the needs of our target audience. Indepth understanding helped us strategically plan our business model and refined our approach to the sellers. We took one step at a time and put in a lot of thought and effort. Consistency and persistence were the key factors in our continued growth. Even though we will go live by October, we already have an inventory of 200+ items and a customer base of 20+ sellers. We have been lucky to get such a positive response so far!
What your future plans involve?
Immediate goals are to do all the groundwork well, provide a seamless and enjoyable experience to a customer, establish a trusted brand & make the business model more efficient. Future goals revolve around scaling up the business by adding more segments and expanding in cities beyond New Delhi. To sum it up, we are working with an aim of becoming the market leader in the world of collaborative fashion!
Any words of advice/wisdom or encouragement for others thinking of setting up on their own?
Starting a startup has been one of the most exhilarating and unnerving experiences of my life! To future entrepreneurs I would like to say that the most important thing is to have a partner who has a vision like yours and whom you trust! Startup thrives when co founding partners are strong and it fails when co founding partners have a lot of conflicts. It is essential to choose the right person to realize your dream to the fullest! Other than that, you must know the depth of the problem you are solving, research your target market extensively - customer service should always be the priority, and plan to scale. A startup is like a rollercoaster ride, if your fundamentals are strong, you will be able to face the challenges (lows) in a much more efficient manner. Finally, do what you love and you wouldn't have to work a day!