4 businesses created by women entrepreneurs that generate millions of dollars in revenue
Every successful entrepreneur emphasizes obsessively solving problems rather than aimlessly chasing money. Ironically, these are also the entrepreneurs whose startups reach enviable milestones and have a steady flow of capital.
The same seems to apply today to India’s booming direct-to-consumer (D2C) market. Women entrepreneurs who are deeply committed to solving specific problems eventually bring money back to their business.
Here’s a look at four women entrepreneurs who are raking in millions of dollars in the skincare, home furnishings, health and wellness, and food industries.
Radhika Koolwal, Urban space
Radhika Koolwal noted that Indian furniture products exist in two extremes: either large retail brands which are expensive, or poor quality local products.
This prompted her to launch Urban Spaces, an Ahmedabad-based decorating and furnishing brand, in 2018. The idea was to fulfill the desire of the middle-class population to decorate their domestic spaces.
Her first date with entrepreneurship, Radhika worked as a computer engineer at Infosys and later pursued MBA studies in marketing.
Today, Urban Spaces has a wide range of products such as bedspreads, curtains, duvets and quilts, table linens and cushion covers. Priced between Rs 699 and Rs 2,499, the products are sold on e-commerce marketplaces like Myntra, Flipkart, Pepperfry and Ajio, in addition to its own website. The entrepreneur is now looking to break into the retail space.
Seeded so far, the startup recorded revenue of Rs 25 crore in the financial year ending in 2022.
Ramya and Shwetha Ravi, RNR Donne Biryani
Two sisters Ramya and Shwetha Ravi took a leap of faith by launching RNR Donne Biryani, a food delivery brand serving naati-style Karnataka biryani, during the pandemic.
The duo wanted to popularize Karnataka biryani by replicating their grandmother’s recipe and offering it at an affordable price of Rs 189-259.
During the first month of operation, the brand received 10,000 orders. This is despite the unique challenges of operating during the pandemic and the high attrition rate in the food and beverage industry when most people are wary of what they consume due to health issues.
Currently, in addition to 14 cloud kitchens across the city, they have opened RNR Restaurant Donne Biryani in the 4th block of Jayanagar in September 2021. The business is now expected to register a turnover of Rs 10 Crore in the fiscal year ending March 2022.
Suditi Sharma, Organic products from the Himalayas
College friends Suditi Sharma and Vaibhav Raghuwanshi founded The Himalayan Organics because of a common challenge: the lack of dietary supplements in the Indian market for vegetarians.
Their direct-to-consumer brand set out to solve this problem for themselves and around 400 million Indians who identify as vegetarians by formulating a range of organic and herbal supplements at affordable rates.
Priced between Rs 450 and Rs 1,100, the dietary supplements are available in 20 odd marketplaces such as Amazon, Flipkart, Nykaa, Purplle, Nutrabay, 1mg, Pharmeasy and its own website.
Having served over 10,000 customers since its inception, entrepreneurs claim that 75% of its current buyers are repeat customers. Started with an initial investment of Rs 40 lakh, the seeded venture is expected to close the fiscal year ending March 2022 with revenue of Rs 40 crores.
Arthi Raghuram, Deyga
In Erode, Tamil Nadu, entrepreneur Arthi Raghuram is on a mission to combine ancient Indian practices with modern technology to design personal care products using only natural ingredients.
After all, it was the big fake claims of most skincare brands on the market that upset her and launched her on an entrepreneurial journey by founding Deyga in 2018.
An MBA graduate, Deyga sources her raw materials from local farmers or from Deyga’s own farms which are quality checked before formulation begins.
Priced between Rs 250 and Rs 1100, he sees an average basket size of three to five products and the business is now recording an annual revenue of Rs 20 crore.