How Mensa Brands Became India's Fastest Unicorn? Future of Startups, Brand Building & Scaling | FO58
In this latest episode of Figuring Out Podcast we are in conversation with Ananth Narayanan, founder and CEO of Mensa Brands and we have discussed:
-What are the key points you need to keep in mind when you are starting a brand?
-How to scale a business and increase your profit margins?
-Who are the first 5 people you need to hire?
-How to hire senior people and how to hire junior people?
-How to make sure that you are joining the right company at the right time and building yourself up?
The former CEO of Myntra, an Indian fashion ecommerce company, started Mensa Brands and within six months was able to reach a billion-dollar valuation and became India’s fastest unicorn.
Before becoming CEO of Myntra, Narayanan was working at McKinsey and was able to reach the position of managing partner. His experience as a managing consultant to various businesses became a huge asset in acquiring and growing digital global brands.
Mensa kick-started its journey in May 2021 with a vision to partner and invest in digital-first brands across fashion and apparel, home and garden, beauty and personal care and food and scale them exponentially. Mensa works closely with founding teams to accelerate growth on marketplaces, through the brand's own websites, and global platforms by using a combination of initiatives across product, pricing, marketing, distribution, and brand building with a technology platform at the core.
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00:00 - Introduction
02:45 - Engineering Vs Consulting
04:58 - How to make sure you are joining the right company?
06:40 - How to build a reputation?
10:53 - How to hire the first 5 people?
13:59 - Why hire a tech person?
16:46 - 3 things to look for in an operations person CV?
19:21 - Sourcing Person in D2C Business
20:28 - Consulting to Startup
23:33 - How to scale your business?
24:59 - Why is the USA a world power?
26:58 - Why is China rising so fast?
28:51 - Growth of India in next 10 years
32:05 - Purchasing price parity in India
36:42 - How to increase profits in D2C?
39:42 - Brand building in D2C
45:33 - Top 3 Brands
46:42 - Demographics in terms of higher spending power
48:33 - How to build customer retention in D2C?
51:26 - Right time to get into entrepreneurship
56:45 - How to hire the right people?
1:02:25 - 3 biggest mistakes
1:03:36 - How to hire a senior person?
1:04:58 - Next big billion dollar industry?
1:06:37 - Conclusion
About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.
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