CXO Outlook® – July-August 2020 – India Edition – 10 Most Inspiring Beauty and Fashion CXOs Special

JULY-AUGUST 2020

INSIGHTS. IDEAS. INSPIRATIONS

Mani Rangarajan Group COO, Elara Technologies (Housing.com, Proptiger, & Makaan.com)

Kavindra Mishra

Neeraj Balani

Managing Director & CEO House of Anita Dongre Limited

Managing Director International SOS India

Priyaranjan Kumar Chief Operating Officer Iconic Fashion India

Prajodh Rajan Co-founder and CEO EuroKids

Pooja Sahgal Marketing Head Kaya Limited

Ganesh Shankar Founder and CEO FluxGen

Neetu Agarwal

Dr Harshit Jain

Co-founder and CEO Canberg Global Sourcing

Founder and CEO Doceree

Rachel J Amirtharaj Founder La Fantaisie

RAJESH JAIN

MD & CEO, LACOSTE INDIA

MAKING IT SIMPLE,

BUT ELEGANT

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CXO OUTLOOK July-August 2020

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CXO OUTLOOK July-August 2020

July-August 2020

Vol - 1 Issue - 3

Inspiring CXOs in Beauty and Fashion Industry Special (Indian Edition) Editor in Chief

Dr. Manoj Varghese

Managing Editor Sarath Shyam

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CXO OUTLOOK May 2020

LETTER FROM THE EDITOR

Fashion in the Time of Pandemic

S

et up a work-corner in your house and dress-up every morning as if you are going to the office, said an expert when asked him about effective work-from-home habits. A work-corner at home is excellent, as it is better than spending the whole day in your bed or sofa with a laptop. But how many of us working from home really care about the clothes we wear while working? Of course, fashion would be one of those last things people would like to talk about when the entire world is contemplating its future.

In this time of social distancing, with restrictions on movements and large gathering, more and more people have started moving towards a different kind of wardrobe. Many consumers, primarily the middle-class, have shifted their spending habits to a need-based buying instead of going for the latest trends. In the past few months, starting from the mid of March, an estimated 16 million craftspeople working in the Indian textile industry are finding it challenging to make their ends meet. Reputed designers and fashion brands are also forced to cut costs to stay afloat in this pandemic time.

As per the reports, the fashion and beauty industry is expected to a considerable drop in

sales. Now, the leaders in this industry have a vast responsibility of looking after their customers and employees. What is their action plan?

In this issue, we have tried to understand the struggles of business leaders in the Indian Fashion sector and come up with a list of ’10 Most Inspiring CXOs in Beauty and Fashion Industry in India’ who have managed to tackle the unprecedented ongoing challenges. Along with a collection of opinion articles from leading players in the business, we have also covered some of the innovative startup companies India that finding success despite the hiccups. On the cover, we feature, Managing Director & Chief Executive Officer of Lacoste India, Rajesh Jain who helped Lacoste to evolve from a polo-centric brand to a complete lifestyle product and made its presence felt in most metros and major cities in India.

Enjoy Reading.

Sarath Shyam

CXO OUTLOOK May 2020

ADVISORY BOARD

Dr. Kuldeep Nagi, Ph.D, MBA, BSc. Program Director of Ph.D, Recipient of Fulbright Fellowship Award & Dan Evans Award for Excellence and Writer columnist.

Mr. Amulya Sah, PGD PM & IR, PG Diploma in PM&IR (XISS Ranchi) Senior Director HR. Former Head HR group Samsung R&D Institute India,Transformative HR Leader, Change agent, Digitization facilitator, Engagement architect, Trainer and Diversity champion.

CXO OUTLOOK July-August 2020

Dr.Varughese K.John, PhD, MBA, MPhil, MCom, LLB. Program Director, MS in Management Program, GSATM - AU

Dr. Ajay Shukla, Ph.D, MBA, BE. Co-founder and Chief Strategy Officer at Higher Education UAE

Mamta Thakur CEO (ASEAN), Arc Skills

Mr. Sreedhar Bevara, MBA, B.Com Senior General Manager: Panasonic Middle East & Africa, Thought Leader, Speaker & Author of ‘Moment of Signal’ (Amazon’s International Bestseller)

CXO IN FOCUS

CONTENTS

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30 Saving Lives Neeraj Balani, Managing Director, International SOS India

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Making a Mark in the Online Real Estate Sector Mani Rangarajan, Group COO, Elara Technologies (Housing. com, Proptiger, & Makaan.com)

The Change-Maker of K12 Education Prajodh Rajan, Co-founder and CEO, EuroKids

14 IN MY VIEW Reinterpreting the Importance of Architecture Pradeep P. Veetil, Founder of Concept Design Consultancy & Author of ‘School Design’ - A Comprehensive Guide

40 RAJESH JAIN MD & CEO, LACOSTE INDIA

MAKING IT SIMPLE, BUT

ELEGANT

MOST INSPIRING

84 - 89

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

132 - 135

AN ICONIC SALESMAN

BY CHOICE

A TRUE LEADER IN TOUGH TIMES

Kavindra Mishra, Managing Director & CEO, House of Anita Dongre Limited

Priyaranjan Kumar, Chief Operating Officer, Iconic Fashion India

116 - 119

INTERFACING PASSIONATE PRACTITIONERS AND COMMITTED CUSTOMERS

98 - 103

LEADING FROM THE FRONT TO A SAFER WORK ENVIRONMENT

Neetu Agarwal, Co-founder and CEO, Canberg Global Sourcing

Pooja Sahgal, Marketing Head, Kaya Limited

146 - 150

WEAVING YOUR FANTASY WEDDING

Rachel J Amirtharaj, Founder, La Fantaisie

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Offering Fashion, Tailored to Your Needs

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Ganesh Shankar

Soumajit Bhowmik

Co-Founder of Kredent InfoEdge: Vinay Pagaria, Vineet Patawari, and Vivek Bajaj

Providing Custom-made Employee Perks under One Roof!

Sourabh Deorah

Curating a Simple and Delightful Used Car Buying Experience

Helping You Recruit the Right Man for the Job

Niraj Singh

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Doctor-turned Entrepreneur Disrupting Physician Marketing With Doceree Dr Harshit Jain

INSPIRING IDEAS

CONTENTS

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Saving Water through Digital Intervention

How is Kredent InfoEdge Simplifying Finance for All

Niraj Agrawal

Making a Healthy Society that is Mentally and Physically Fit Sohan Singh

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140 160

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64 90 104

How the Pandemic Outbreak has impacted the Beauty and Wellness Industry?

Lalita Arya, Vice President, Dermapuritys

Protection of Wildlife and Emphasis on Bio-Diversity is a Must for Environmental Sustainability Navin M Raheja, Wildlife Enthusiast and Passionate Photographer

Volunteering Management is the Need of the Hour!

Maanoj Shah, Social Entrepreneur and Founder, GiftCHANGE.org

How to Negotiate with VCs? Skills Startup founders Should Master Dr. Apoorva Ranjan Sharma, Cofounder of Venture Catalysts & MD of 9Unicorns Accelerator Fund

128 136 Financial Inclusion for the Unbanked: Measures Taken by Lending Players Bala Parthasarathy, Co-founder & CEO, MoneyTap

Maintain Your Mental Wellbeing While COVID-19 Outbreak Dr Samir Dwivedi, Medical Director, International SOS

How Magnetic Filtration with UV-C Play a Key Role in Eliminating Microbes to Help Prevent the Spread of COVID-19

EXPERT OPINION

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Himanshu Agarwal, Founder & CEO, Magneto CleanTech

Key Trends That are Driving the Car Rental Industry Arpan Srivastava, Head of Product, Zoomcar

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LEADER'S INSIGHTS

CONTENTS

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The Rise of the Virtual CMO During COVID Times Tamanna Gupta, Virtual CMO and Founder of Umanshi Marketing

Role of Technology in Reshaping the Future of Logistics Sandeep Goel, SVP - Technology, Moglix

A Technology Enabled Entrepreneurial Ecosystem Can Be a Driving Force in Realising India's Potential to Become a Global Superpower

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Deepak Singhal, Enterprise Architect Director for DEMS Business, Capgemini

Car Rental Apps – How the Automobile Sector is Going Digital Raghav Belavadi, Founder & CEO, Hype - Luxury Car Rental

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CXO OUTLOOK July-August 2020

IN MY VIEW

Reinterpreting the Importance of Architecture

By Pradeep P. Veetil, Founder of Concept Design Consultancy & Author of ‘School Design’ - A Comprehensive Guide

Pradeep is a dynamic multi-tasking professional

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with exposure in multinational and multicultural setups, Pradeep spearheads startup projects, with experience in design management, operations, and project management for setting up and commissioning innovative built environments. He is an Architect and has spent his career with global real estate companies, world-class healthcare and education providers conceptualizing, master planning and implementing the design, construction, and procurement management of projects from feasibility Pradeep P. Veetil

to handover.

“W

e shape our buildings; thereafter they shape us.” Winston Churchill The buildings we create are a reflection of who we are and what we value. But at the same time, who we are and what we value is a result of the buildings in which we live, work, and learn. A "building" is

CXO OUTLOOK July-August 2020

It is most likely that the people who lived in a room that is never exposed to the sun will be less vibrant and depressed than people who lived in a building that gets a lot of sun exposure

a result of the implementation of the client's requirements and architect's ideas. Still, over time after the building is occupied, people who live and work in it take the quality and character of the buildings they live in.

They do indeed shape us, architecture is the process of planning, designing, and constructing but the physical structures of a building can have a significant influence on a person's mood and their overall perceptions of their surroundings. A building is also an interaction between the eye, the brain, and the environment that people live and work in. It has a huge effect on how they behave and changes the inherent character of the individuals – changes in human physiology and psychology are directly related to architecture.

For example, the orientation of building during the design process is a conscious decision of the designer. Certain critical decisions like orientation based on sun path & wind rose diagrams, space allocations, zoning of functions, the inclusion of atriums, views from the interiors will have an everlasting impact and can change the person's character, health and behaviour patterns.

The changes I want to emphasize here is not just the visible physical change itself but rather a change in human behaviour.

For example, try to compare a person who lives in an enclosed building with someone who lives in a room that gets a lot of sun exposure and natural light. It is most likely that the people who lived in a room that is never exposed to the sun will be less vibrant and depressed than people who lived in a building that gets a lot of sun exposure.

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CXO OUTLOOK July-August 2020

More about

Pradeep P. Veetil

16 Some benefits like boosting vitamin D, warding of seasonal depression, improvement of the sleep cycle, reducing health risks due to exposure to artificial lighting is quantifiable. But other benefits cannot be perceived in a short duration. Ancient building sciences like Vastu Shastra connect building orientation, the slope of the site, dimensions of the building perimeter, location of functions in relation to cardinal directions with the inhabitant's horoscope.

These recommendations if implemented correctly, may bring about long term benefits to the inhabitants.

When houses were built using these Ayadi formulae, they were said to give the residents spirituality, health, wealth, and prosperity. The calculations are related to the below mentioned six criteria and formula’s related to these items. These calculations are conducted for the proposed design of the building.

1. Aaya – impact on the revenue and benefits for the occupants 2. Vyaya – Impact on the expenditure for the occupants 3. Yoni – Direction indicating the flow of energy (Prana) in the habitat 4. Varam – Auspicious Weekdays for the occupants

CXO OUTLOOK July-August 2020

In his more than two decades of an illustrious career, Pradeep has successfully competed milestone projects with renowned companies like Godrej & Boyce, Danway, Welcare World Health Systems, EMAAR Properties, GEMS Education, Evolvence Knowledge Investments (Operators of Repton Schools in UAE). He currently owns a Concept Design Consultancy in Dubai, UAE. (https://pradeeppveetil.com/) He has been at the forefront to establish partnerships, developing concepts and working with International companies across regions.

His book "School Design - A Comprehensive Guide" is the culmination of his vast handson experience in designing and implementing educational projects. (https://www.youtube. com/watch?v=FB5SrwFyXbA)

Building construction industry that deals with the basic requirement of shelter are amongst the most vital of all other sectors throughout human evolution

5. Nakshatra – Type of the Star which will impact the habitat and the occupant 6. Amsa – Quality and feature of the habitat The remainder obtained by using the formula for the proposed layout determines whether the design will generate a gain or loss for the owner of the building. If it is again, then the structure is proportionate and stable, and the dimensions are right. However, if it is a loss, then it means the dimensions are not right, and the design should be suitably corrected. The designer then redesigns the habitat based on the recommended calculations and zoning criteria. The building construction process, timelines, groundbreaking ceremonies, all have auspicious dates and are interconnected with the planetary positions which relate to the inhabitants' horoscope.

Calculations and rules for developing the building elevations, dimensions of doorways, windows, building height, etc. are mentioned in the ancient texts. Modern science and building engineering research labs across the world have slowly realized the importance of the knowledge available with indigenous people living and practising the above-mentioned design and construction methodologies.

Building construction industry that deals with the basic requirement of shelter are amongst the most vital of all other sectors throughout human evolution. Human beings have seen rapid growth and development ever since the onset of civilization.

The science of building construction too has touched great unimaginable heights. Attractive designs and textures adorn our dwellings, making us feel proud and happy. At the same time, it is noteworthy that several other elements, such as heavenly bodies, nature, and supernatural forces all exert their influence on us. The only prudent way out is to strike a chord of harmony with these forces to ensure a pleasant living condition. Vaastu Shastra is the ancient science that provides guidelines to design and maintain a harmonious living condition in the buildings.

It, therefore, becomes imperative to understand and assimilate the Vaastu, Feng Shuei, and other ancient building ideas into modern architecture.

Integrating modern techniques and available ancient knowledge by designers during the analysis of a project will help them to create concepts and designs which stretch the human capabilities in unravelling the secrets of nature and invent designs that cater to the client's holistic needs and requirements. The efficient design process is critical during the creation of architecture. It is during this stage all the abstract ideas, client's intent, environmental requirements, building regulation, and bylaws are juxtaposed with the design brief and budgetary constraints.

CXO OUTLOOK July-August 2020

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Architectural Design greatly influences our lives, more than most of us realize. Good design makes a close connection with users and exerts an influence on their lives. Design is about more than just appearances; it can influence and changes people's lives.

The built environment impacts the state of people's mind, and mood and the structure and layout of buildings have a profound impact on people. Building space has a specific impact on people's life. You are constantly in and surrounded by buildings, and these spaces affect how you feel.

The impact of good design on humans has not been discussed and explained to society as it should have been.

Design of public architecture, design of road networks, parks, transportation hubs, nodes, commercial buildings influence the living style, life span, and health of the inhabitants. Their lives revolve around these enclosures, and it is our duty as designers to share the information on methods to improve the built environment with them to engage the entire community in the process of creating future living habitats.

Mankind's search for happiness has led him to discoveries and inventions, which make life easy and

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comfortable. Architecture and buildings are very critical elements in this search and are interconnected and dependent on other elements aspired by humans. I believe an individual's well being in the cosmos during his lifespan depends on the following four criteria – 1. The food an individual consumes and his lifestyle 2. The built environment and surrounding in which the individual lives 3. An individual’s Karma during his lifespan 4. An individual’s Karma which he has committed during his past life’s The order and extent of the impact of these elements on human comfort and well-being, though difficult to quantify can be felt during the life span of an individual.

Food and surroundings immediately within a few hours will show its impact on us. Good food keeps us healthy, and good surroundings help us maintain our physical and psychological balance. The impact of our deeds and actions in the present life and previous life’s as believed by some cultures is being researched by scientists. Ancient building sciences that I mentioned earlier dwells into creating habitats that are in sync with the cosmic cycle and helps the inhabitants to live a contempt and complete life.

The habitats support human beings to maintain a healthy body and a stable mind with sufficient resources to live happily to complete their allocated lifespan on earth. This was the objective and intent of ancient building sciences.

As we progressed with modern technologies and form-based innovative and beautiful buildings, we lost the connections with the knowledge of our ancestors. The focus was more on aesthetics and creation of landmark buildings which only reflected the brand identity of the client and aspirations to stand out from the surrounding structures.

This trend has to reverse. Clients, decision-makers, designers, and the public, in general, will have to understand, comprehend and demand architecture which not just protects them from the climatic elements but also contributes towards environmental conservation and harmonious living environment for future generations. We do have the know-how and technology to create climatic responsive buildings.

Architecture which responds to the local climate and culture of the respective region adopts passive and active measures to keep the interior environment habitable.

Climatic and passive architecture requires proper analysis

of existing climatic conditions and responds by creating buildings that bring in sunlight, wind, and shadows for the benefit of the occupants.

Bioclimatic charts and comfort parameters are used by architects as a benchmark to create comfortable built environments. Human habitats are designed by modern architects and engineers to maintain a range of comfort conditions inside the buildings – 1. Temperature 2. Humidity 3. Airflow 4. Quality of air – Odor, and level of pollutants 5. Lighting levels – Natural and artificial 6. Noise levels 7. Color, texture, and ambience of the spaces 8. Balance of scale, proportion, harmony, and contrast Technological innovations have helped engineers and architects to design and build these habitats using passive and active technologies. The majority of modernday architects and engineers keep the above criteria in view while creating innovative architecture. But there are ancient time tested building sciences like Vastu Shastra from the Indian subcontinent and Feng Shuei with Chinese

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origin which dwell into astrology, numerology, palmistry to create human habitations. Some of their principles may not seem scientific but has been practised and implemented across regions from time immoral.

Throughout the civilizations, creators of human habitations had humans as the focal point, and all design decisions were made to cater to his comfort and living requirements. Huge monuments for the memory of loved ones, places of worship, forts for security, megastructures for passage to the afterlife were built with the philosophy of man at the centre of the design ideology.

We need to integrate the modern scientific approach and available ancient knowledge to create a future built environment. All aspects of human endeavour and creations should be aimed at making the human being, the society, and the environment happy. Creating a happy environment is a different approach that I intend to propose.

We should add the response to create an ecological balance at the micro-level of the product & interior design to the ecological balance at the macro level of the architectural design and regional planning in the design thinking process. With the advent of contagious diseases, we have to rethink and reinterpret the way we design our future habitations.

The way we design, build and inhabit cities may never be the same.

Indoor-Outdoor Living: While our earliest domiciles aimed to provide as much protection from the elements

CXO OUTLOOK July-August 2020

as possible, today's architecture should embrace the concept of indoor-outdoor living. Design features like courtyards which bring in natural elements like sunlight, wind, rain, shadows should be integrated into our designs.

It is necessary to integrate healthy lifestyle features with opportunities to walk and exercise as part of master planning of communities.

Smart Home Technology: Home automation and IoT will connect devices in the home that communicates with each other via the network. Building response systems, facades, electrical and plumbing fixtures, multi-function walls will become interactive and will respond to human voice and requirements. Smart technology will connect humans to transportation, schools, hospitals, workplaces, entertainment facilities and all building types to rationalize the use of our natural resources and also to predict the future social, economic and personal events for creating a sustainable and habitable world for our future generations.

Sustainability: Good architecture should protect the health, safety, and welfare of people. It shouldn’t heat the planet or waste resources. Good architecture should have a relationship with its local context in some way that is intentional. Buildings should facilitate food production, control of pollution around its surroundings, generate oxygen, and support ecosystems of flora and fauna with enclosures for human needs. We have the necessary technology to create kinetic buildings that produce its

power, water, recycles all waste generated in the building, and use the byproducts as raw materials to create useful products for local consumption.

Multi-Generational Living: The world realizes the importance of learning from our elders' experiences.

This trend is based on cultural norms, changing social & economic needs, and empathy & compassion towards fellow humans. Individuals, families, and communities tend to be happy if they are together and can achieve their goals much easily. Design of the residential units, public spaces, streets, play areas, opportunities for community activities will have to be reinterpreted to include this living style. The joint family living style was prevalent in ancient times and is still adopted in some cultures. It creates, stronger family bonds, longevity for the inhabitants, sharing of household chores, easier home financing, sharing of home equity, and also saves money by sharing resources.

Flexibility: The purpose of Architecture is to improve human life. Create timeless, free, joyous spaces for all activities in life. The infinite variety of these spaces can be as varied as life itself, and they must be as sensible as nature in deriving from a main idea and flowering into a beautiful entity. Functions of the built space inside buildings will provide multiple options for reconfigurations and changes. Land use and zoning of facilities in the town will cater to mixed-use activities with

21 the infrastructure and transportation methods to adjust to these mutations in the activities. The building, structural systems, and infrastructure with the use of robotics, AI, and IoT will perform the function of a catalyst to cater to these changing modalities. Living, learning, preventive cure, entertainment, sports, leisure, work, agriculture, manufacturing, etc. will all function in these spaces to enhance this new normal in the near future.

Culture and regionalism: Climatic response to architectural design is an integral part of expressing culture and regionalism in buildings. It can reflect the traditions of cultures through integrating many aspects in the architecture: from massing to details, layout, workmanship, textures, colours, use of materials that mimic traditional cultural objects, using wayfinding and orientation to mimic their movements through time.

Incorporating Vastu and Feng Shui as per local traditions will generate holistic architectural works that satisfy the needs of humans and the environment.

I would like to conclude my article my rephrasing the famous quote which was mentioned at the beginning of my article.

CXO OUTLOOK July-August 2020

INSPIRING

IDEAS

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Saving Water through Digital Intervention Founded by Ganesh Shankar, FluxGen Engineering Technologies is an IoT start-up company based in Bangalore that is keen in developing engineering technologies for Water & Energy systems.

CXO OUTLOOK July-August 2020

sk Ganesh Shankar, Founder and CEO of FluxGen Technologies - an IoT start-up based in Bangalore that is keen on developing engineering technologies for energy systems – about his most significant achievement before he turned 18. Ganesh would tell you a beautiful story that happened in his first year of Pre-University College at The National College Basavanagudi, Bangalore. Ganesh was attending a mathematics class handled by the principal of the college, Prof.

Balchandra Rao - one of the most exceptional teachers at that time in the college and in Bangalore.

Prof. Rao was teaching analytical geometry for about a hundred students. However, Ganesh was finding it difficult to follow the class and turned to his classmate sitting next to him for a little help.

Immediately, the duo went into a conversationmode while Prof. Rao’s class was still on.

Long story short, Prof. Rao caught Ganesh’s friend and asked him to stand up and stay like that for the rest of the period as a punishment for disturbing the class. Ganesh felt guilty and wanted to apologise to his classmate after the class for being the very cause of him being punished. However, in an impulse, Ganesh stood up and told Prof. Rao that he was the one who requested to explain the concept and deserve to be punished instead to his friend. Prof. Rao’s reaction was a little unusual at that time, he asked both Ganesh and his friend to sit down and continued with his class without further ado. “The courage to owning up my mistake during that mathematics class and ensuring the classmate of mine was not punished, was what I consider as the biggest achievement as a teenager. Though I must say it is not really a matter of pride, however, I am glad the event has left a long-lasting impression in my mind to share on what may have made me a leader,” recalls Ganesh.

Coming from a family of teachers, Ganesh aspired to become one himself. With his father, uncles, and most of his relatives being teachers, he had no business background. While pursuing a degree in Telecommunication Engineering from RV College of Engineering, Ganesh started a small coaching centre

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I'm a strong believer that you need 2 Gs to succeed in a career. One is Goal, and the other is Guru

CXO OUTLOOK July-August 2020

where he taught electronic circuits to 100 students. "After graduating, I joined NextFirst Engineering Technologies because I wanted to gain experience working in a startup and learn how to build devices and systems. In 2006, I got into IISc for research in the ion-trap mass spectrometer and went on to work with General Electric Company (GE), a well-known American multinational conglomerate”, reminisces Ganesh.

Realising that he was not wholly using his education, Ganesh resigned from GE after two years, with a vision to make eco-friendly solutions for the common man.

Having no experience in sustainable energy, Ganesh joined SELCO India, a solar energy company. "During the six months I worked there, I travelled to places like Ujire in Dakshina Kannada district in Karnataka. This experience gave me a glimpse of on-ground problems which I was not fully aware of”, says Ganesh.

After his stint at SELCO, Ganesh came back to Bangalore and started FluxGen as a Projects and Consulting Company in Sustainable Technologies at the end of 2011.

In 2016, Tanishq, a Titan Jewellery Division, asked them to develop a solution where they could monitor their water consumption patterns every 5 minutes, which led to the

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product AquaGen (Water Management System). He adds, “It took us about six months to develop this, after which we were able to provide solutions.”

Taking a Big-Step towards Sustainable Living Water utilization is generally not given prime focus and importance, neither is its conservation. Even though India has many big rivers flowing through - some of them being perennial rivers – the country still suffers from water shortage for cultivation, drinking, and manufacturing. “The reason being that much of the fresh river water goes to the sea unused.

Judicious usage with efficient planning of the available freshwater resources can be the most suitable solution to avoid ‘Day Zero’ water crisis,” opines Ganesh. The importance of water can also be highlighted from the fact that about 60% of the human body and nearly about 70% of the human brain is made up of water. Also, about 25kilo liters of water are needed to make a living of 4 people.

Ganesh adds, “Talking about the infrastructure segment, around 300 tonnes of water is required to make 1 tonne of

FluxGen’s water management solution, AquaGen has been appreciated by repeat orders at deployment sites.

steel. Thus, water is a necessary ingredient for both home and industry consumption.”

Considering human health, nearly 39% of the world population is affected by water scarcity and chronic disease.

About 1800 children under the age of 5 are killed everyday due to the use of unsafe water. The prime cause being that Indian industries nearly use 50% of the water required for human use.

“Proper usage of water at the industry means that more water is available to people for their household consumption. The ironic fact is that when we have advanced technology for gaming and entertainment, there is no profound use of technology in water management and its conservation,” shares Ganesh.

A great way to manage water efficiently with digital technology effectively put to use is with the application of AquaGen’s Architecture which is based on the Industrial Internet of Things Technology (IIoT) & Artificial Intelligence. It is designed in a way to gather meaningful and actionable data about the water flow and distribution of water. Built with Best-In-Class Hardware and Software,

AquaGen is compatible with any digital water flow meter and water level sensor and has a 6-sigma approach that is used to understand a problem and present a suitable solution for it. Helping out the domestic as well as an industrial segment to meet their water needs, FluxGen has recognized how to optimize their product to the water usage so that it can be used for regular domestic household purposes as well, distinguishing them from their competitors.

With a trend of Digital Disruption in managing resources more efficiently in the urban sector, Technologies like IoT, ML, AI, IIoT, Big Data Computing are being sought after. Being a tech company, FluxGen started to work on this area to develop a low-cost AI IoT solution for better living. Pioneering in IoT deployment for renewable energy, they have understood that industries are plagued with many maintenance issues, and that water has to be measured everywhere. "The first step for this is to monitor water usage in the region. FluxGen’s cloud connector – AquaGen is a very adaptive solution to existing infrastructures to monitor water flow, level, pressure, and

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energy consumed in water infrastructure. This system strategizes the water usage pattern and subsequently takes corrective action immediately by alerting the ground maintenance staff using mobile application", quips Ganesh. With this device, 150 million litres of water have been successfully monitored with 100+ devices, saving about 15 million litres of water, which can be used by 200 villages for a year.

FluxGen’s water management solution, AquaGen has been appreciated by repeat orders at deployment sites from reputed customers including Titan Jewellery, Britannia etc.

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Adding to the accolade, FluxGen has been awarded the ‘Best Social Impact Solution Award’ at Smart City Expo India 2018 held at Jaipur. Along with this, they have also received the IoT Startup of The Year Award (2016) and Engineering Impact Award at Austin, Texas, and received an overwhelming response at the Futuristic Technologies

Expo at Science City during the recent Vibrant Gujarat Summit held in January 2019. Having partnered with successful platforms like CISCO LaunchPad, Deshpande Startups and NASSCOM CoE-IoT, FluxGen has been able to generate good leads.

With their major customer bases being the dairy industry, jewellery industry, and smart cities like Electronic City Industrial Township Authority (ELCITA), FluxGen also has had an excellent knowledge sharing relationship with Accenture Strategy Team, TCS Agriculture Team and academic institutions like Karlsruhe Institute of Technology (Germany), VU University Amsterdam, Indian Institute of Science Bangalore, National Institute of Technology.

The Sustainability Mafia In 2018, Ganesh started another dream project which was a consortium of leaders working in the business of sustainability, calling it 'The Sustainability Mafia' with the tagline 'The lobbyist for

CXO OUTLOOK July-August 2020

your grandchildren'. "I invited most of the people I had met from the start of my journey in sustainability back in 2010 to the group. It started as a WhatsApp group focused on sharing solutions in sustainability, to later organising regular meetups of members to help each other grow through the common interest in the business. As of today, we are about 100 members (Read Mafiosos) who have dedicated most of our time to solve sustainabilityrelated problems in energy, water, waste, clothing, construction, etc., from different parts of India and the world�, says Ganesh.

A non-profit organisation to multiply the impact of sustainability leaders through goal-oriented collaboration, the Sustainability Mafia would not have been possible without Arjun Gupta of Smart Joules, who saw the value of having a community of leaders in Sustainability much more than one can imagine.

An engineering graduate, Ganesh would spend his days indulged in philosophy. “Plato, Buddha, Lao Tzu, Rumi, J Krishnamurthy, Friedrich Nietzsche, Khalil Gibran, etc have been a great influence and the stories of Mahabharata. The discussion I had with my friends on these philosophers and their ideas has

CXO OUTLOOK July-August 2020

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Ganesh and his Team at FluxGen is on a mission to make Industries Water +ve 28

become a vital part of my decision-making process in the entrepreneurial journey so far, especially during the tough times", adds Ganesh.

Having embarked on a journey of 10 years with a vision to make sustainable technologies as the default choice for the world, Ganesh and his team at FluxGen had worked on Renewable Energy Systems, Rural Electrification using Solar Photovoltaics. Recognizing the “Need of the Hour” from 2016 FluxGen has been focusing on “Making Industries Water +ve” . Using IoT along with Data Analytics, FluxGen solves customer problems through monitoring and analyzing the systems they built.

"I'm a strong believer that you need 2 Gs to succeed in a career. One is Goal, and the other is Guru. We had to an extent figured out our goal, still we were really in need of the other G. With this thought in mind, last October we applied for multiple start-up accelerators as we required

CXO OUTLOOK July-August 2020

mentoring to have accelerated growth in our business and product development. Fortunately, we got selected to some the most sought-after accelerators in India and world, considering the potential impact of our work”, says Ganesh .

Currently measuring and managing about a hundred million litres of water for various facilities, which include food processing, textile, and manufacturing industries, FluxGen plans to expand their base to Paper and Pulp, Chemical, Pharmaceutical and other industries which consume more than hundred-kilo litres of water per day, in the next three years. Intending to introduce water quality monitoring along with their offering so that people are conscious of the water they are consuming and discharging to the environment. Ganesh concludes, “Hopefully in five years, we would be able to offer end to end water management services for industries and smart cities projects. If things go according to the plan, we will be able to manage cumulatively ten billion litres of water per day and potentially “Save a Billion Litres of Water Every Day Using Our IoT and AI-based Water Management Platform” which provides prescriptive alerts to avoid water wastage in water networks.

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CXO OUTLOOK July-August 2020

CXOs IN FOCUS

Neeraj Balani,

Managing Director, International SOS India

Saving Lives

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A

mischievous child who did nothing much but plays and has fun in the most part of his school life went on attend a few lectures at Harvard Business School along with Mr Anand Mahindra, Chairman of the USD 20.7 billion Mahindra Group. The kid in question is Neeraj Balani, Managing Director of International SOS India. If Neeraj ever tries to explain his life by plotting a line graph, it will always show an upward trend. After completing Chemical Engineering from the University of Bombay, Neeraj took an MBA from University of Georgia’s Terry College of Business in Finance, Marketing and Operation. Neeraj then started his career as a salesperson and went on to become Vice-President of Sales and Business Development at Mahindra Logistic Limited before joining International SOS as its Managing Director.

CXO OUTLOOK July-August 2020

A charismatic leader whose career spans over two decades in sales and business management, Neeraj’s journey in the realm of business is a lesson for aspiring professionals. “I started my career as a salesperson, and I can tell you successful salespeople are difficult people to give lessons to! But my respects to my managers during my career who always held my hand when I stumbled and made me realise that it takes compassion and not aggression to be a true leader,” says Neeraj. Mistakes are essential lessons of any successful career, provided you have the right managers who help you learn from mistakes. Neeraj adds, “My career too has seen me stumble many times, but I was fortunate to work with managers who would help point out the mistake and make me learn from it, rather than reprimand me for the same. I think this aspect of managing people from the front was the biggest lesson for me.”

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Neeraj Balani

"Leadership is also about keeping a close watch on the environment and the future trend and setting new courses for performance.�

- Neeraj Balani

CXO OUTLOOK July-August 2020

Neeraj has been influenced by many people, from his family, friends and colleagues. “Mr Kiran Bhagwanani at HCL Technologies who taught me the ropes of a sales manager with a focus on numbers. Mr Kishor Chitale at Capgemini who taught me being a leader is all about building and aligning teams and having fun at work. At Mahindra Logistics, I understood the importance of the purpose of an organisation from our CEO Mr Phil Sarkari and the importance an organisation plays to make its people and its ecosystem, rise,” explains Neeraj. Today, Neeraj also remembers the experiences of holistic thinking like how leaders learn from all aspects of life, including arts, at the Mahindra Universe program at the Harvard Business School. He pinpoints, “Such lessons go a long way in explaining what leadership is and how do you build leaders of tomorrow.”

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People’s Manager Neeraj joined International SOS around two years ago from Mahindra Logistics. Neeraj shares, “I would say that my journey as a professional and a learner continued well from Mahindra to International SOS. My organisation gives me the freedom to perform and ensures that we work as a team guided by our values of Passion, Expertise, Respect and Care.” Neeraj has always believed that one needs to enjoy work, have fun to deliver his best. International SOS, which is in the business of saving lives, when people are faced with medical and security situations, provides him with a platform to enjoy what he is doing. “Every day, I see my team involved in aiding people facing medical and security-related concerns and its full-filling to see that we can make a difference. I have delivered customer experience in many organisations such as HCL Technologies, Capgemini and Mahindra and garnered customer appreciation for making a difference – but here at International SOS, we literally garner blessings,” says Neeraj.

Neeraj’s view of leadership is all about getting the right people together and creating a platform for them to deliver. He elaborates, “It is all about building a team and aligning them to a victory, by achieving KPI's every quarter and recognising the effort put in by the team and their families.

Leadership is also about keeping a close watch on the environment and the future trend and setting new courses for performance.” At International

CXO OUTLOOK July-August 2020

SOS, Neeraj reaches out to our different teams and talk to them about delivering customer experience in every transaction they handle. “It is important for every services organisation to understand and value the customer experience it promises and delivers,” affirms Neeraj.

As a leader, Neeraj is exceptionally proud to see his team members doing well across the IT and logistics industry. He says, “It is boundless joy and a personal milestone when I get a "thank you' from them when they achieve a promotion or a new path.” On the other side, Neeraj has achieved many milestones as a business professional.

Neeraj recalls, “Contribute as the head of Customer Experience (Sales, Solution Design and Implementation) for all the efforts the team put in to get Mahindra Logistics listed on the BSE in 2017 gave me a huge sense of achievement.”

Neeraj has also been successful in putting International SOS, a global leader in Medical and Security services, at the forefront in India. “We set out to achieve a leadership position in the Indian market as a premium service provider and a thought leader in FY 2019/20 by seeking to increase our media exposure and increasing our advisory services,” shares Neeraj. In 12 months ending June 2020, Neeraj and his team overachieved the KPI for brand exposure in India by 100%. On the advisory front, International SOS ended up winning contracts for over 50 large organisations in India where they now deliver their Medical and Security Advisory services.

A Company That Saves Lives Founded in 1985, the International SOS Group is trusted by 11,000 organisations, including over half of the Fortune Global 500, multi-national corporate clients and mid-size enterprises, governments, educational institutions and NGOs. The company helps organisations protect their employees’ lives, improve employee health and well-being, and strengthen its organisation's resilience. “Our workforce resilience program includes everything organisations need to safely manage their global teams while they work around the world. Our service prepares employees for layered threat environments, helps them to feel supported and productive, and provides them with assistance whenever they have a question, concern or crisis anytime, anywhere,” explains Neeraj.

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Neeraj Balani

CXO OUTLOOK July-August 2020

Neeraj has been successful in putting International SOS, a global leader in Medical and Security services, at the forefront in India

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At present, International SOS is helping over 25 CEOs in India as their Medical/Security Intelligence Advisory Experts. Experts from International SOS help the leaders and their teams build and audit business continuity plans, help communicate with employees on health and well-being and provide with various strategies such as Return to Office and Return to Travel. Neeraj adds, “We also are helping over 100 organisations from India and over 1000 global organisations with our Medical and Security Assistance program for their employees, which is available 24 X 7. We provide the employees' access to a doctor or security expert, teleconsultation, on-ground services such as COVID-19 test arrangement, ambulance, hospitalisation. All this at a click of a button on the International SOS app on their phone.”

International SOS also manages over 50 onsite/remote site medical clinics and Health and Wellness centres, which provide the right medical program to employees and help organisations build the right platform of engagement with their employees by providing them with a safe and healthy workplace. All this with a solid ROI, which is delivered by driving higher productivity. “We are also supporting our clients in India with International Medical evacuation by providing aeromedical transportation/air ambulances for evacuating patients with various medical conditions and passenger charter evacuations for movement of a large number of passengers internationally,” shares Neeraj.

The Pandemic and the Leadership While the businesses in India are struggling with the COVID-19 situation on many fronts, Neeraj urges the Crisis Management Team get a right perspective on the pandemic on the Medical front and use these insights to update their business continuity/resilience plans. According to him, organisations need to ensure that their business continuity

CXO OUTLOOK July-August 2020

plans are updated concerning the changing environment, including local medical infrastructure and lockdowns in a country as diverse as ours. Finally, the leaders need to align the employees and their communities to the new normal on how to prevent and how to manage COVID19 cases and spread so that risks in carrying out daily operations are minimised.

Neeraj says, “COVID-19 has also been declared an "infodemic", excess information. My view is that this affects leaders in any organisation, the most.” Neeraj’s approach has been to keep the noise out and rely on expert medical and security intelligence advice for decision making on topics such as Return to Operations/Office, managing a COVID-19 positive case among employees and their families, communicating with employees to educate them and create confidence and ensure that the company’s operations as such remain unaffected. “As a leader, we have thus been able to avoid panic situations and act with a degree of confidence which ensures our employees are safe and continue to deliver to our objectives,” claims Neeraj.

As a visionary leader, Neeraj has a competitive spirit. Perhaps, he has been carrying it from his college days. Neeraj recalls, “I was lucky to have friends who would love to have fun but also challenge me at study and sports, which helped me build my competitive spirit! To date, I carry my inner sportsman onto my job and lead teams to front the front.” Neeraj knows that a good company during the early years can have a significant influence on your personality. He also gives a lot of credit to his mother and father who taught him the values of honesty, hard work and hygiene (physical and mental) to pursue happiness. “I always say, be passionate about what you want to learn and do. Enjoy what you are learning and doing and have fun while you are at it,” concludes Neeraj.

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CXO OUTLOOK July-August 2020

EXPERT OPINION

How the Pandemic Outbreak has impacted the Beauty and Wellness Industry?

Lalita Arya, Vice President, Dermapuritys Lalita Arya, Vice President of Dermapuritys,

had the vision to create a 360-degree integrated

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clinic for skincare & skin rejuvenation. Ms Lalita works on the moto to eliminate problems from the root. She has been in the beauty and cosmic dermatology field for over 8 years. She started her journey at VLCC to build a brand of her own today.

Lalita Arya

C

OVID-19 pandemic has profoundly influenced many aspects of life. The sanitary restrictions laid by the government and social distancing measures have collectively impacted every industry in multiple ways. The crisis has thrown unprecedented challenges to sustain a business of any scale in the current scenario. Likewise, the beauty and wellness sphere has also suffered a huge blow due to the pandemic.

Lack of social gatherings has changed preferences.

The restricted physical movement proved to be a bane for the cosmetic industry. Everybody is staying at home and following the social distancing measures for their well-being. Many industries have shut

CXO OUTLOOK July-August 2020

For many people, beauty might be superficial, but for many, it is a way of selfexpression

down, and people have lost their jobs. So, with limited resources, most people would prefer to buy essential commodities rather than choosing beauty products to look groomed at home.

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Beauty filters are enough Since the lockdown, many industries directed their employees to work from home in order to sustain the business during these tough times. The technology has become a medium to communicate, so physical meetings are now replaced by zoom calls. Many video-conferencing apps come with a beauty feature that puts a filter on the face to hide the imperfections, so people are actually not much bothered to undergo cosmetic treatments while they continue to work from home.

Why take a risk?

Now, it is a well-known fact that coronavirus can transmit through direct contact with an infected person, or touching a contaminated object or even through the air. The awareness about the transmission of the novel virus has made people reluctant to step out of the house unless they have to buy an essential item or provide any service.

All the travel destinations are closed for an uncertain period, barely any events are happening, and people are scared to even meet their friends to prevent the risk of catching the virus. So, why would anyone want to risk their lives to take a beauty treatment during this time?

CXO OUTLOOK July-August 2020

Online consultation is a great way to provide solutions for their skin and hair problems from a certified medical practitioner

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The way ahead...

Nobody knows how long the coronavirus pandemic would continue. The future is quite uncertain, to be honest!!!

For many people, beauty might be superficial, but for many, it is a way of self-expression. The definition of "beauty" is becoming more intertwined with individuals' sense of well-being. Imperfections can make an individual feel less self-confident about their appearance and cause body image issues. Also, some people have major skin and hair issues, which could not be ignored for a long period.

People who regularly get fillers, botox, or laser treatments every three to four months would require touch-up sessions to maintain the results.

Why is cosmetic treatment a requirement during the pandemic?

Wearing a face mask is not only discomforting, but, it can also lead to acne and skin irritation. As people are spending more time at home, the lack of physical activities is causing hormonal issues or weight gain. Therefore, the dependency on a cosmetic clinic for skin, hair, and weight management must not be overlooked.

During the pandemic, people are spending more and more time on social media. Constant exposure to the picture of models with flawless skin, luscious locks, and attractive physique can make someone a harsh critic of themselves. Advanced cosmetic treatments can help to achieve the desired body and skin goals.

What cosmetic and wellness clinics can do to mitigate the effects of coronavirus?

CXO OUTLOOK July-August 2020

Online consultation Online consultation is a great way to provide solutions for their skin and hair problems from a certified medical practitioner. One can simply send a couple of pictures or prepare a questionnaire to ask the expert regarding the issue. The dermatologist can recommend hair care products or suggest a skin-clearing regime to treat the problem. The live session can be very beneficial for people who are scared of stepping out of the house but want an apt solution for their issue.

Some cosmetic clinics also have a team of nutritionists to help with managing their weight issues and hormonal problems. Depending upon the requirements, an individual can choose to consult with the certified expert.

Taking appropriate measures for the treatment For any skin or hair treatment, an individual would have to visit the clinic. These days, many responsible clinics are taking appropriate measures to stop the transmission of the virus. The customers are properly screened before entering the clinic, doctors and technicians wear PPE kits while providing the treatment. The safety measures are important to cut the risk of getting infected from the virus.

With great care, hygiene, and safety, Dermapuritys ensures to provide the best treatments to the clients without compromising with the quality. The centre for skin and hair rejuvenation caters to dermatological needs and also provides services for anti-ageing, body shaping, weight management with the latest FDA approved technologies.

So, choose to be the best version of yourself even if it means to just look good on a computer screen!!!

Want to Sell or find Investor for your Business?

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CXO OUTLOOK July-August 2020

C O V E R RAJESH JAIN MD & CEO, LACOSTE INDIA

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MAKING IT SIMPLE, BUT

ELEGANT

The Journey of a Chartered Accountant Who

Helped Lacoste to Evolve from a Polo-Centric Brand to a Complete Lifestyle Product and Made its Presence Felt in Most Metros and Major Cities of the Country Today.

By Sarath Shyam

CXO OUTLOOK July-August 2020

S T O R Y

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Rajesh Jain

CXO OUTLOOK July-August 2020

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H

osting a large section of the rapidly growing middles class population and a strong manufacturing sector, India is emerging as a hub of the fashion industry. As per a report released by KPMG and Nielsen, the Fashion and Apparel Industry is expected to grow at 15 per cent CAGR till 2022 and become a $102 billion market. A significant market that cannot be ignored, many international brands have been entering India in the recent past. To win the Indian customers’ trust, however, the global brands need a perfect strategy than merely showing up with a gorgeous showroom. Perhaps, the new entrants can learn a few lessons from brands like Lacoste, an iconic French company that has managed to make a vast loyal Indian customer base in its 27 years of operation in the country.

“The exposure to global markets and international brands has created a paradigm shift within the past few years. Today the Indian customers are global citizens with great aspirations in life. The brand consciousness and brand affinity are touching new heights every day,” says Rajesh

CXO OUTLOOK July-August 2020

Jain, Managing Director and Chief Executive Officer, Lacoste India. While international brands are committing to set up their shops in India despite the economic slowdown, several Indian fashion designers and brands are going global with great success. Rajesh adds, “Fashion is fast becoming part of everyday life though there is still immense potential yet to be tapped. Due to this, India’s fashion industry is witnessing accelerated growth, with retail development taking place not just in major cities and metros, but also in Tier-II and Tier-III cities.”

Working with Lacoste India for over a decade now, Rajesh understands that India has a vast potential for quality products, which, if delivered with the excellent shopping experience, will continue to shower its blessings.

He explains, “During the last 27 years, Lacoste in India has evolved from a polo-centric brand to a complete lifestyle brand that is accessible in most metro and major cities of the country today. Perception of the brand has further strengthened as a unique premium brand for all ages and all genders.” Lacoste in India has been providing the customers with a luxurious environment and freedom of

43 Mall of India - Noida movement. Rajesh shares, “Through innovation, strict clearcut design codes, and taking ‘Customer Delight’ as our top priority, we will always follow the strategy of delivering a sound customer service that will help us in providing the luxurious shopping experience to the customers in the fashion industry.”

Operations During the Black Swan Like leaders across the industries, fashion CXOs are focusing on crisis management now. For Rajesh and his team at Lacoste India, the first and the top-most priority is the safety of people, that is the customers and staff. The brand has been following all government guidelines to ensure safety, be it wearing a mask, using sanitisers, washing hands, maintaining safe social distance, and many more. Then comes the business, its challenges, and the solutions. Rajesh says, “COVID-19 has created so much of uncertainty that it is hard to predict future.

There cannot be any long term thinking as of now. During, at least the current financial year, given expected low volumes of sales, we would need to ensure keeping the costs under control and yet give a decent customer experience.”

Rajesh Jain

CXO OUTLOOK July-August 2020

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Rajesh Jain

CXO OUTLOOK July-August 2020

For most of the retailers in the fashion and apparel industry, there are three principal heads of costs: Cost of Goods Sold (COGS), Personnel Cost, and Occupation Cost.

Rajesh explains, “COGS actually has a direct correlation with the availability of inventory in the stores. Now, on one hand, with such an unpredictable environment for sale, a brand would need to keep the minimum possible inventory to control costs. On the other hand, there should be sufficient options to attract the customers and to ensure that the sale and customer experience do not get impacted due to non-availability of stock.”

It is a massive challenge for any retailers to keep a delicate balance between the two extreme ends. However, Rajesh and his team are addressing this paradoxical situation by diving back into the past. He adds, “They say past holds the key to the future. What we did is, we fished out data for the period immediately succeeding the global recession in 2008/2009 and the data immediately after the demonetisation in India. We analysed how the sales performance was, in one year after these two major events. Armed with this data, we now have a tool to project future with suitable modifications as per current reality. This has helped us project sales and in-turn the need for inventory volumes to be kept for expected sale.”

When it comes to Personnel Cost, the reality is that several businesses might be staring at shut down, as they do not have any external support. Rajesh feels that job losses might become a norm rather than an exception, at least for some time. However, he believes that, “In order to control costs during these uncertain times, pay cut is better than Job losses. If a venture can keep its head above water by cutting salaries rather than complete job loss of its employees, it will reward the company in the form of muchneeded support after about a year from now when the economy is expected to revive again. We did not lay off any colleague due to this pandemic,” pinpoints Rajesh.

For most retailers with no/low sales, rent for the retail premises and Common Area Maintenance Charges in a mall are perhaps the most prominent cost elements during

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Infinity Mall, Malad West - Mumbai

COVID-19. These Occupation Costs are likely to remain very high for an extended period. Rajesh opines, “A collaborative approach is required between the developers and retailers where developers could convert the occupation cost to a simple revenue share arrangement based on sales. A retailer needs to take decisions very carefully here.” Unfortunately, brands may need to shut down some stores and need to renegotiate rentals at other places to stay in business. “This is not the time for expansion, this is the time for consolidation and survival. Growth can happen later. The time is to maintain overall existence, even if one needs to take some hard decision for, say, a few closures. This is the approach we are also following though we have not closed any store so far due to COVID-19,” explains Rajesh.

Infinity Mall, Malad West - Mumbai

CXO OUTLOOK July-August 2020

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While it is difficult to predict what the future holds for us, Rajesh is optimistic that the world will bounce back.

As a leader, he has taken several measures to overcome COVID-19 challenges. "We reached out to all the colleagues in the organisation to explain the situation and way forward. It was heartening to see that every individual came in support and pledged commitment to the cause.

It talks volumes about the organizational culture and the level of faith of the colleagues,” shares Rajesh.

With the firm belief of “customer delight through customer service”, Rajesh and his team analysed the situation and the changes that might take place in the buying behaviour of the customers during the transition phase. To ensure continuous bonding with the customers, they worked on brushing up some essential skills too.

Rajesh adds, “Instead of thinking of big changes, in my view, retailers need to start focusing on the basics again, to go back to routes of selling skills and customer service.”

First step that Rajesh and his team have taken was preparing themselves to be ready. They worked on ways to further improve all the SOPs - from enhancing the visual merchandising to providing the best possible customer service - by keeping the safe environment as the top priority, post lockdown. “We focused on enhancing the soft skills of the staff through online training programs. These training lessons ranged from giving the product knowledge

CXO OUTLOOK July-August 2020

Linking Road, Santa Cruz West - Mumbai

to further enhancing customer service parameters and so on. This did ensure faster adaptability when the stores started reopening,” affirms Rajesh.

Rajesh believes that building relations with customers is the key to the success of a business. Indeed, it has proved to be a saviour and maintained a certain amount of sales momentum in all the stores during the initial period after the lockdown was over. Rajesh says, “Relationship building with other people in the ecosystem, such as developers and vendors, was also critical and helped us during this period so far.” Rajesh is always cognizant of the fact that unforeseen changes and the transition in the attitudes of the customer can have a serious positive or negative impact on the future of the business. Hence, he has tried to acclimatise to the situations to remain relevant despite the changes in market conditions.

Perks of Having a Person with Financial Background at the Helm of a Fashion Brand Rajesh’s education was mostly in the field of commerce.

He did Masters in Commerce from the University of Delhi and Chartered Accountancy from the Institute of Chartered Accountants of India. Besides, Rajesh also completed Company Secretary-ship from the Institute of Company Secretaries of India and a Certificate Course in Italian Language from Delhi University. “From a financial

background, analysing and evaluating company strategies to details, my inclination for the retail industry was not a mere milestone but an opportunity to adapt to an industry which is characterised by ever-changing demands and varied preferences,” says Rajesh.

Whatever decision one takes in business will indeed have an impact on cash flows and income statements. With an accounting background, Rajesh could immediately gauge the effect and make the decision accordingly. In fact, that helped Lacoste India to grow fast and become a self-sustainable business. “Since I was not into general management earlier, I could perhaps think out of the box. Instead of thinking like a retailer or manufacturer, I placed myself into customers' shoes, and that helped us move together as a team for further improvisation in the business,” pinpoints Rajesh.

Choosing and retaining the right team is Rajesh’s most significant contribution to Lacoste’s business in India. Rajesh is very particular while selecting a team and his biggest criteria while choosing a new colleague is ‘attitude.’ He says, “We shortlist a candidate because she or he already has the necessary skills and knowledge. With the right positive attitude, we can train the candidate for our kind of work. That has genuinely resulted in getting the right kind of colleagues.” Once onboard, Rajesh provides the team members with motivation, training, and

Linking Road, Santa Cruz West - Mumbai

CXO OUTLOOK July-August 2020

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growth opportunities. Indeed, Rajesh considers it nothing less than his duty to offer growth opportunities to his colleagues, who perform well and are committed. Rajesh adds, “We believe a lot in internal growth opportunities.

These are some of the simple steps that have made me fortunate to have

remained surrounded by some very committed colleagues.”

Rajesh is happy that, with the support of a strong team, he has managed to build and propagate Lacoste in India as a complete Lifestyle brand, offering unique and original universe for different verticals

Lacoste Boutique – Vegas Mall, Dwarka - New Delhi

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Lacoste Boutique – Vegas Mall, Dwarka - New Delhi

CXO OUTLOOK July-August 2020

Mall of India - Noida including clothing for women, men and children, shoes, leather goods, watches and many more. However, like any leader in business, Rajesh does face challenges daily in several areas. He shares, “I realised and accepted it pretty early that these challenges are part of life, especially when you are on a growth trajectory. I also learnt that what pays off well during tough times is resilience and perseverance.

Bounce back quickly and stay firm. It might take some time, but it certainly delivers.”

Getting organised for the day by preparing a list of “Things to Do” is the first thing Rajesh does when he reaches office. Though it may not always be possible for Rajesh to work only on what he planned for the day due to various challenges attached with the retail industry, the ‘Things-to-Do’ list does give him a sense of structured plan and helps him keep the mind uncluttered. “While working in a dynamic retail world, challenges and pressure are part and parcel of everyday life. One needs to be strong enough to face them and resilient enough to bounce back,” says Rajesh.

Rajesh thinks that one does not need to go far to look for people who can make an impact on your mind.

He says, “We all are surrounded by colleagues, family, friends, fellow industry people, who teach you something every day. I learn from all my colleagues and other people in my life.” However, Rajesh always finds inspiration

from two personalities, Thierry Guibert - Lacoste Global CEO, and Steve Jobs - Former CEO of Apple. “Thierry Guibert can keep the team together and is very innovative in his thought process. He really thinks ahead of times and is futuristic in his approach. Steve Jobs’ ideas and principles were so clear. He understood that his work was to run a business and not to win some popularity contest,” explains Rajesh.

Leading global brand in an industry that is known for intense competition, Rajesh has learnt that an ethical and aesthetic attitude towards life helps you achieve what you want. He believes in hard work, discipline and most significantly in nurturing relationships. “Lacoste India’s vision has been and continues to remain to make constant sustainable growth, not compromising ever on quality and performance. All our efforts are channelised towards making the clients live a unique experience regardless of the distribution network, physical or digital, everywhere in the world,” affirms Rajesh. While Customer Delight continues to remain the top priority, Lacoste will always be working towards more premiumisation, and it is evident in the offerings and look and feel of the stores all over the country. “I do not think having achieved any milestone can be categorised as ‘success’ because it suggests complacency. I believe in Robert Frost poem ‘And miles to go before I sleep….,’” concludes Rajesh.

CXO OUTLOOK July-August 2020

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EXPERT OPINION

The Rise of the Virtual CMO During COVID Times

Tamanna Gupta, Virtual CMO and Founder of Umanshi Marketing

A Postgraduate from IIM Bangalore, this sassy woman is driven to the finish line! An expert in

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Sales and Marketing with over 16 years’ experience across 25+ industries and 60+ brands, Tamanna defies all stereotypes. She has led marketing functions for B2C and B2B brands such as Marvel Realtors and Allcargo Logistics. Tamanna is working towards creating and nurturing more entrepreneurs as a Mentor on the panel of NSRCEL, IIM Bangalore for the Goldman Sach’s 10K Women’s Entrepreneurship Program.

Tamanna Gupta

L

arge MNCs are more likely to recover faster from a pandemic disaster primarily on 2 accounts: their strong brand equity and massive distribution & outreach. During times of uncertainty, people trust brands. People are even ready to pay a premium to be more sure and secure. Most small businesses and startups, on the other hand, usually have to work harder to come out of setbacks. Traditionally neither have they invested in their brand-building nor even gone digital.

CXO OUTLOOK July-August 2020

A VCMO helps startups and SMEs solve their biggest business challenges which are currently not just the pandemic but the consumer buying behaviour, which has changed drastically

But this approach now calls for a major re-haul. This is the time of the rise of the Virtual Chief Marketing Officer (VCMO) – a marketing expert who could be strategically engaged and responsible for managing the marketing needs of the company, in shoestring budgets through effective vendor management without sustained commitments.

A VCMO helps startups and SMEs solve their biggest business challenges which are currently not just the pandemic but the consumer buying behaviour, which has changed drastically. Like large MNCs, small businesses too deserve the best of the business experts working for them and guiding them through these uncertain times.

The problem is strategic marketing and branding can be inaccessible to small businesses and startups where the founders are always pressed to meet their monthly or quarterly sales targets. Unlike large enterprises, they cannot afford to invest in a full-time CMO with the requisite experience and expertise. And this is where a virtual CMO can be the game-changer. S/he can work in innovating your business in several ways:

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Brand building Startups/ SMEs have great products/ services at an even greater price value than many MNCs. However, in their bid to achieve their sales targets, they end up selling their wares without being able to build a brand out of them. They lack the right way to position their brand and more importantly communicate rightly to their target segment. So that they are off a treadmill called sales. And sales continue to come in even when the founder or core team decides to go for a long vacay.

New outreach channels Studies show that with COVID, more people and businesses have gone online either for work or leisure. However, most small businesses have failed to capitalize on this opportunity. Their website

CXO OUTLOOK July-August 2020

More about

Tamanna Gupta 52

Tamanna Gupta is the Founder and Director at Umanshi Marketing that focusses on startups, SMBs and social sector. She believes that these sectors also deserve the best of the branding and marketing solutions, just like large MNCs. Her portfolio of work features an impressive clientele with the likes of HSBC, VW, Bridgestone, Qatar Airways, Eureka Forbes, Birla Sunlife Insurance, ACC Cement and others. Tamanna’s work has exposed her to international markets such as Greece, Istanbul, UAE, China, and the Netherlands. She directed the opening and closing ceremony of International Film Festival of India in 2011.

CXO OUTLOOK July-August 2020

can easily be a money-making tool for them by generating leads or turning it to an eCommerce website. This is the time for startups and SMEs to create their digital footprint. This is almost like adding an extra salesperson to their team! They can even start small with Google ads as these ads are only charged if a viewer clicks on it. Diversify their geographical reach by displaying these ads to newer markets!

Working with a VCMO is just like having a full-time CMO, but for a fraction of the cost. They spend a predetermined amount of time on the business’s premises, engaging with business leaders and other stakeholders to identify their problems. VCMOs actively collaborate with the business stakeholders to formulate strategies for overcoming their challenges. They also oversee the execution of these strategies to ensure tangible improvements in marketing performance. Their remuneration may consist of fixed as well as success-based components.

As a virtual CMO, I have helped several startups and small businesses solve their biggest marketing challenges which, often, run deeper than just bad marketing and ads. Because sometimes, it is not about what you sell, but why you sell. At times, it may not be about overcoming circumstances but about monetizing the circumstances. Defining your unique brand positioning and communicating the same to your target audience can help you achieve a quantum leap in business performance without requiring you to upscale your sales operations. That’s because once you sell your brand, your products will sell themselves -just like Slack managed to gain 2 million monthly users within its first 2 years WITHOUT hiring salespeople! Small business CEOs either don’t see marketing as a strategic supplement to their business goals or are unable to hire a full-time CMO. As a result, they are unable to leverage marketing and branding to achieve desired business outcomes. An experienced VCMO can look at the business from a fresh perspective to identify any gaps and make the marketing function an active player in strengthening your profit centre.

Modus operandi and outcomes of a VCMO • A virtual CMO (VCMO) is a consultant who helps businesses discover their brand purpose, create a brand identity, and strategize and execute marketing campaigns to drive exponential growth.

• With a virtual CMO on board, business owners can focus on their core operations, while entrusting the marketing function to the expertise and experience of a VCMO. • Equipped with experience in marketing across brands, industries, and geographies, a VCMO has diverse knowledge. They have a noticeably short learning curve and can hit the ground running to deliver immediate results.

• They do not lead to any overhead costs that are generally associated with full-time employees, such as a full-time workstation while being just as accountable for driving results.

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Wi-Fi powered digital learning.

Build an ultramodern classroom that boosts student and teacher success.

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CXO OUTLOOK July-August 2020

CXOs IN FOCUS

Mani Rangarajan,

Group COO, Elara Technologies (Housing.com, Proptiger, & Makaan.com)

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Making a Mark in the Online Real Estate Sector

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ne of the most globally recognised sectors, the growth of the real estate is well complemented by the increase in the corporate environment and the demand for office space as well as urban and semiurban accommodations. Indian real estate sector has witnessed high growth in recent times with a rise in demand for office as well as residential spaces. Real estate attracted around Rs 43,780 crore (US$ 6.26 billion) in investment in 2019. The current Covid-19 pandemic is the most unprecedented Black Swan event in over a century.

Consequently, the global economy, including that of India, is expected to contract this year by over 4%. Most industries have been impacted across the world and some more than others. Let's note that the Indian economy was amid this slowdown at the onset of the current crisis with slowing consumption, investment and export demand.

CXO OUTLOOK July-August 2020

The current virus has exacerbated the crisis in the real estate sector that was impacted by the slowdown.

Demand was expanding slowly, and developers were facing a liquidity crisis at the start of this pandemic.

Unemployment has risen with job cuts, which has created a sense of economic uncertainty. Developers, especially those that do not have a firm brand name, will likely face several challenges. First of all, the current crisis adds to the liquidity crunch in the market due to lower cash inflows from new sales and delayed customer payments from existing sales. Secondly, the construction supply chain has been disrupted for some developers who also face challenges around labour availability. Lastly, construction costs are rising, and wage bills may be higher due to limited labour for construction. Consequently, developers may not be able to complete projects on time

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Mani Rangarajan

I have always been driven by perseverance, hard work, resilience and giving it my best in whatever I do.

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- Mani Rangarajan

CXO OUTLOOK July-August 2020

A leader needs to understand when to push the pace for growth and when to rein in the tendencies to overshoot growth

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that adds pressure in driving sales and augmenting cash flows. Besides, more than 40% of potential buyers are sensitive to price and expect lower prices and/or discounts to consummate a purchase.

However, on the positive side, over a third of the buyers have realised that real estate is the most stable asset to hold, followed by gold and stock. Also, about 50% of potential buyers have deferred their purchase by up to a few months, which shows a strong intent to buy. Further, a significant 33% of all potential buyers mentioned that they were looking to upgrade their home. Further, about 25% of buyers have affirmed their decision to purchase a home from a reputed developer. "Our Housing-Naredco sentiment survey showed that about 60% of buyers expect economic conditions to either remain stagnant or improve over the next few months. Consequently, about 80% of potential buyers have pushed back their home purchase by periods up to a year. The market will offer opportunities

CXO OUTLOOK July-August 2020

for consolidation where brand-name developers can increase their market share and improve overall efficiency and transparency in the sector", informs Mani Rangarajan, Group Chief Operating Officer, Elara Technologies (Housing.com, Proptiger, & Makaan.com).

A qualified Cost and Works Accountant with an MBA from IIM, Kolkata, Mani also studied in the Graduate School of Business, Stanford University, where he was recognised as an Arjay Miller Scholar, which was only awarded to the top 10% of the class. "I have always been driven by perseverance, hard work, resilience and giving it my best in whatever I do. Early in my childhood, I overcame health challenges through sheer determination and self-conquest and excelled in academics, sports and music�, adds Mani.

Having been ambitious and yearned to be successful, Mani wanted to achieve this within the ambit of certain values, i.e., be a good global citizen with a community-

focus, compassion, and treat others with respect, honesty, trust, high standards of ethics and integrity, conscientiousness, and helping others grow and realise their potential. He says, "My personal brand promise revolves around transformation. Throughout my career, I have been known for exercising a hugely positive influence on individuals and businesses, being a catalyst for positive change, building innovation through organisations and empowering people to achieve their potential".

As Vincent Van Gogh once said, "if you hear a voice that says you cannot paint, go ahead and paint and that voice will be silenced". Mani retained his selfconfidence and resilience, and never backed down from any professional challenges. He stayed strong mentally, which he feels is more important than other skills, as he thinks if one doesn’t believe in themselves, the world will not really do anything to raise it.

Developing the Real Estate Sector Starting his journey with Elara Technologies in early 2017, when the Housing-Proptiger Merger happened, Mani joined Housing as the Chief Financial Officer in 2015 and took on the additional role of Chief Business Officer in January 2016. "I was named as Group Chief Operating Officer in April 2019 for Housing.com, Makaan.com and Proptiger.com where I am responsible for strategy, marketing, business development, sales, research and operations amongst other areas. It's been a great time as a COO where we have made a tremendous impact on the industry as an innovator that is focused on digitisation and changing the way real estate is being transacted across the country", quips Mani.

Making rapid strides in innovating new products, monetisation, and achieving market leadership in audience within a short time, Mani inculcated tremendous adaptive skills - almost chameleon-like - to help the business succeed in evolving environments, as a part of his role as a COO, by being strategic, data-driven, diving into details and developing talent within the organisation.

"Lastly, I have quickly realised that I am only as effective as the people I lead. I have helped develop leadership through the organisation and developed the next set of leaders. While I have been operationally focused, I recognise that my role demands visionary insight, drive internal efficiency, translate strategic vision into action and position the organisation for the future through a higher focus on digitisation and technology. I have encouraged people across the organisation to think through technology-solutions to problems rather than focus on adding incremental resources", says Mani.

One of the few companies globally that offer both online and offline services in real estate and runs a fullstack model, Elara Technologies aggregates demand, supply, matches demand and supply, and helps fulfil demands by offering their end-to-end services. Running to marketplace platforms, Housing.com and Makaan.com, which provides marketing services for developers, channel partners and brokers. Along with this, they also run Proptiger, that is one of India’s renowned channel partners, where they help developers sell new homes to buyers and help buyers secure home loads as well.

Elara Technologies is one of India’s foremost research companies in real estate and provides granular market updates on launches and sales sector updates to several financial institutions and developers. "In fact, our quarterly Real Insight reports is recognised as one of the most authentic reports on sector dynamics. In addition, we are recognised as the industry pioneer in proptech and digitisation in the real estate segment and have launched several technology products such as online booking platforms, virtual tours, touchscreens, drone shoots, virtual reality and augmented reality that is used widely through the market. Our group has the largest online audience market share in the real estate sector in India", adds Mani.

A Leader who Inspires There are two aspects of the current crisis that make it different from what we have seen before in crisis across the world - one is the global nature of the event and the second is the sheer unpredictability of how the crisis will take shape which implies that it will take a long time to restore a semblance of normalcy. From a leaders perspective, Mani feels a different form of response is required as all documented contingency plans may not work. Some responses can be temporary (such as ensuring employees work from home). Still, other responses may be to change the business is done (such as digitisation of business processes) which would benefit even when the crisis has passed.

Keep the important aspect of leadership, i.e., acknowledging that this is indeed a devastating crisis which is making an indelible on everyone’s lives, Mani says, “I do want to lose sight of the human empathy factor and have dealt with the human tragedy as a first priority. I recognise the fact that these crises tend to have varying impact on individuals physical and well-being, and I strive to ensure that I can make a positive impact on people's lives. During this crisis, my approach as a management team has not been to engineer a top-down response but to create a network of teams that believes in the organisational goals and works in close co-ordination to innovate and drive the business forward".

CXO OUTLOOK July-August 2020

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From a leaders perspective, Mani Rangarajan feels that a different form of response is required as all documented contingency plans may not work

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The next step Mani took was to empower the next set of leaders within the company who could make quick decisions and drive responses to the crisis as it evolves.

He adds, "I have not taken decisions through intuition but have continually assessed the situation as it evolves, deliberated on the impact and then acted on how to move business forward while balancing the well-being of the employees".

Having worked alongside several prominent business leaders including the founders of Yahoo!, the Chief Executive Officers of Yahoo!, LinkedIn and Warner Brothers, several investors at leading venture capital firms and brilliant entrepreneurs in Silicon Valley, Mani has been inspired by many, but the one person who made a mark was Susan Decker. He says, "I worked with Sue very closely for six years when she was the Chief Financial Officer and later President of Yahoo! Sue has featured on the list of most powerful women in business several times and was personally recruited by Steve Jobs for Pixar Films and by Warren Buffett for Berkshire Hathaway where she serves on the Board of Directors".

While Mani focused on Finance, Susan taught him how to link finance to business and business to strategy. Susan always believed that every number in business had some innate meaning for the business. "Sue led by hard work, had the most incredible work ethic amongst the leaders that I worked with and always believed in the greater good of the organisation ahead of anything else including personal ambitions", adds Mani.

A Journey of Learning and Growing Recognising that making mistakes is inevitable when leading a business, Main feels if one doesn't make mistakes, it means that the person is not doing enough and taking advantage of potential opportunities in the business. "While I have never hesitated to take the road less travelled by during my professional endeavours,

CXO OUTLOOK July-August 2020

there are some mistakes that I made when trying to push the organisation on a rapid growth path", says Mani.

Having realised that growth needs to be well-paced and be restrained to certain constraints to ensure that growth is sustainable, Mani feels there is the maximum capacity for growth which determines the length and breadth of growth and to ensure that the organisation and the system do not break down. Secondly, it is important to build the right capabilities to ensure that capacity is enhanced. "A leader needs to understand when to push the pace for growth and when to rein in the tendencies to overshoot growth. In essence, the bestpaced growth wins. I have derived one fundamental learning in that, the market should require technology and not the other way around", quips Mani.

Deriving immense satisfaction from the fact that they have excelled much faster in revenue and audience when compared to their competitors, Elara Technologies has been recognised in the top 50 Great Places to Work in 2019.

"During my professional life, I feel proud of the journey that I have been a part of, especially elated of the moment when Housing.com was awarded as the best real estate site in 2018. It is a memorable accomplishment because I led a team which played a significant role in turning around a company and making it become one of India's top real estate portals", opines Mani.

There are no limits to how successful one can become.

You don't necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. However, you do need a strong plan and the drive to see it through. Advising young entrepreneurs out there, Mani concludes. "Spend hours understanding every aspect of the business, know every tree in the forest and ultimately the forest itself. Do not be afraid to ask for things that you feel you deserve, especially if the worst outcome for the asking is a no. Follow your own passion even though it may not pay as well now; it may ultimately lead to a successful long-term career".

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CXO OUTLOOK July-August 2020

INSPIRING

IDEAS

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Offering Fashion, Tailored to Your Needs

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Co-Founded by Soumajit Bhowmik, Bengaluru-based Styched is an affordable, fast-fashion ecommerce venture.

CXO OUTLOOK July-August 2020

he Fashion e-commerce had come to a grinding halt in India when the national lockdown that started on March 23rd closed all but the essential services. Online fashion sales in India were predicted to reach a valuation of $30 billion by the end of 2020 by Boston Consulting Group and Facebook in 2017, which changed course due to the force shutdown. Unlike in other countries like the US, where e-commerce retail across categories has been allowed to keep operating as stores close, India’s lockdown is total for the fashion industry. “Although the pandemic had us back by a couple of months, with the delivery chains being severely impacted, leading to delayed shipment and non-serviceability in some areas, Styched didn’t experience any losses per se, as we are a zero-inventory company”, quips Soumajit Bhowmik, CEO & Co-founder, Styched.

A Blend of Comfort and Exclusivity Representing the fashion component and the Indian roots, Styched is a mashup of Style and Stitched, offering fast fashion affordable apparels for the youth and solving few pertinent problems in eCommerce brand space, through AI and Technology. A product on-demand company, the whole operational aspect of Styched is unique. No matter what apparel you are looking for – Topwear, bottom wear, accessories, Styched makes it on order and at scale. “It has been possible through AI and Rapid Data Analysis, which granularizes apparel manufacturing to the most basic replicable patterns, helping us have zero inventory, zero warehouse expenses, zero losses, unlimited styles and designs in the portal. This has helped us in being the most affordable brand by passing on the cost benefits to the end customer. The backend also regulates return through Machine Learning, thus improving our unit economics", opines Soumajit.

Maintaining transparency with his employees, Soumajit has made sure that every member of the company knows about the cash flow, cash in hand, future plans and how that translate to any decision the management has to take.

"We have not allowed any uncertainty in jobs or salary expectations among employees, which

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The lifelong bunch of friends, the confidence to follow your dream/passion is something IIT gave me as a parting gift

CXO OUTLOOK July-August 2020

Soumajit Bhowmik

has helped our employees work in a focused way towards the company goals so that we can come out the lockdown stronger and better.

Also, senior members have voluntarily taken salary cuts, ensuring everyone knew that although this a tough time, it would not last for more than a couple of months”, adds Soumajit.

Durga Madhab Dash, Co-founder and COO

Going down the Entrepreneurial Path Topping most of his classes school days, Soumajit was a good student. He learnt a lot of things in his college life.

"IIT Kharagpur transformed me beyond imagination. The understanding that you are never the best, there is always someone better around you, and all you can do is work on your own knowledge and efficiency – which translates to humility and compassion, is something IIT engraved in me. The lifelong bunch of friends, the confidence to follow your dream/passion is something IIT gave me as a parting gift", says Soumajit.

CXO OUTLOOK July-August 2020

Saswata Banerjee, CTO

A bloke with tons of ideas waiting for a chance to implement them, Soumajit was quite indecisive about what he wanted to do with his career. “I was in a dilemma, whether I should work on something I love doing or take a job that pays me more”, recalls Soumajit. A serial entrepreneur himself, Soumajit was previously working at Capillary, where he was heading the complete vertical with a lot of freedom. He quips, “it was almost as if I was running my own startup within Capillary. My longest streak in that aspect would be with AdWize, a boutique branding and Digital Marketing Agency, which we started in 2007 and wrapped up in 2015”.

Soumajit stumbled upon Styched by chance, along with Saswata Banarjee and Durga Madhab Dash, Co-founders of Styched. “We have known each other since our IIT Kharagpur days. In 2017, when we got a chance to catch up over dinner and drinks, our discussions about our work made us realize that this was the right time to plunge into the battlefield that is eCommerce. Over the next year, we finalized on the business plan, optimization opportunities, tech play and brought Styched to life”, recalls Soumajit.

Hence, Soumajit, along with Saswata and Durga, started Styched through the funds they could gather from their friends, ex-colleagues, and old clients from AdWize.

A Team of Independently Creative People Following a very startup-like work culture, Styched encourages everyone to take ownership of the work in hand, with complete freedom for them to execute any ideas, improvements, or process efficiency. “We all help each other and work collectively towards one vision”, adds Soumajit. Playing an instrumental role in Styched’s journey so far, Social Media and Digital Support have had an enormous influence on the company's growth.

"Facebook ads, hashtag marketing, influencer marketing has proved to be a gamechanger. Without social media or digital support, things might have been different. Still, I believe that with our value proposition, even offline marketing would have made us instant favourites among customers”, quips Soumajit. Launching new categories and expand styles, Styched plans on increasing their daily orders to 2000+, open up their Delhi operations and start their first office in Dubai, ultimately to become the No.1 Fast Fashion brand globally.

A business is nothing without the people who work behind the scenes. While the entrepreneur may have big dreams, it is ultimately the team, with whose help they can realize the goals. Hiring the right team is therefore extremely important for any business, and more so for a startup, since it is the team that plays a crucial role in understanding and executing the founder's vision. Realizing the essence of a good team, Soumajit concludes, "You need to have motivated high-performance individuals, aligned to the vision, who look at the long term, who live the dream you have painted and who are willing to go the extra mile to make that dream a reality".

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CXO OUTLOOK July-August 2020

EXPERT OPINION

Protection of Wildlife and Emphasis on Bio-Diversity is a Must for Environmental

Navin M Raheja, Wildlife Enthusiast and Passionate Photographer

Sustainability

A former member of Project Tiger's steering committee, under the Ministry of Environment

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and Forests, Navin M Raheja worked persistently to ensure that the threatened big cat survives in India. He has also been the Chairman of Wildlife Conservation Society. One with the holistic vision, Raheja believes that the development and protection of the environment can happen simultaneously. As a Wildlife enthusiast and photographer, Navin M Raheja says, “Wildlife and Bio-diversity must be preserved. In this corona pandemic, it is high time Navin M Raheja

that we should give importance to environmental sustainability where Wildlife and Bio-diversity will play a vital role.�

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here was a time when the Terai zone of sub-Himalayan region, teeming with wildlife and bio-diversity of the finest kind, extended from Jammu to Assam. Tigers, elephants, and even rhinos called it their home. But not anymore. I am afraid if its degradation continues, the Terai as we have known it would pass on into the realm of fantasy land.

CXO OUTLOOK July-August 2020

It would be crucial to first understand the nature of the malady before looking for a cure

This enchanting area was not only the perfect place for flora and fauna to flourish but housed several architectural marvels too. And lest we forget, `Sultana Daku', India's own Robin Hood whose fame grew far and wide and who gave sleepless nights to the British rulers, also operated in this region.

For close to 45 years now, being a wildlife enthusiast, film-maker and an active campaigner for a better environment, I have seen the gradual but definite decimation of the Terai area. I have seen how some of the finest wildlife corridors, which gave unrestricted and free access to animals to move from one place to another, have been destroyed, blocked or made totally unfit for the purpose for which they existed.

My eyes have seen it all.

But being an optimist at heart, I believe that although we may have reached quite near the point of no return, we have refrained ourselves from crossing the ``Lakshman Rekha''. So a ray of hope does exist. Of course, it would be crucial to first understand the nature of the malady before looking for a cure.

Let's focus on the big picture since doing so would be crucial for the correct diagnosis of the ailment. Till about 70 years ago, the Terai region of present-day Uttarakhand (and even parts of adjoining Uttar Pradesh) was bestowed with one of the best and biggest forest blocks in India. Sprawling grasslands, unending stretches of magnificent Sal forests, numerous water bodies and rich bird and animal life were the chief characteristics of this unique zone. To illustrate a point, wild elephants and other wildlife would regularly migrate between it's two extreme points: that is, from Haldwani forest division in the Kumaon region of Uttarakhand to the Indo-Gangetic plains which started at Haridwar and stretched right up to Saharanpur.

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And then came the human interference to control the affairs of this natural wonder, with both stupendous and horrendous results. The first step was taken in 1936 by officially designating the boundaries of Hailey National Park in the Nainital and Pauri-Garhwal district; after Independence, it was renamed Corbett National Park, to honour renowned hunter-turned-conservationist Jim Corbett. The forest track next to it, consisting of three wildlife sanctuaries (Motichur, Chilla and Rajaji) and extending from Kotdwar to Haridwar till Saharanpur boundary, was first notified as Rajaji National Park in 1983, and subsequently declared Rajaji Tiger Reserve in 2015.

But just as a map is not the territory, not all good intentions lead to desired results. For many years, the wildlife corridor between Corbett and Rajaji Parks, the biggest of its kind in the entire Terai region, remained in perfect health. Elephants, tigers and all other wild animalsbless them, they don't understand or respect man-made boundaries!- would regularly move from its one corner to another.

Earlier, and I am talking about a period till about decade and a half ago, one could get a sense of this exquisite wildlife corridor while driving from Kalagarh to Kotdwar.

CXO OUTLOOK July-August 2020

This corridor, whose grasslands would be teeming with wildlife of all kind, extended for about five kilometres from the present urban boundary of Kotdwar towards the stretch going to Kotdwar. The Kandi Road and Khoh river pass through the corridor.

This Corbett-Rajaji corridor gave unfettered access to wildlife to move from one zone to another. On numerous occasions, I used to see big herds of elephants, deer, and even solitary tigers and leopards use the corridor.

How rich was the wildlife which, at one point of time till about six decades ago, would either pass through or live around this corridor? There is verifiable evidence- even today- which exists in the shape of two Forest Rest Houses which the erstwhile British rulers built in this region.

These rest houses are at Saneh and Jaffrabad. And both of these, as used to be the British policy at the time, was used for ``game hunting''.

Hunting, of course, is now illegal in India but even ``game viewing'' cannot be experienced in the region.

Reflecting the shocking state of affairs (and also, perhaps, our changing sensibilities and priorities), the corridor is now shrunk to mere 300 yards! Nowadays, thanks to the unchecked human encroachment along the length and breadth of the corridor, hardly any animal use it. This is the current state of affairs. An indication of the extreme

severity of the situation can be gauged from the recent elephant census reports of Uttarakhand. The official data shows that from 2012 to 2019, the number of elephants in Rajaji Tiger Reserve- who are now virtually cut-off from the adjoining Tiger Reserve due to the ``closure'' of the corridor- has remained constant at around 300. A recipe for certain doom this is- if nothing else, the genetical health of Rajaji's elephants will be the first casualty in the present state of affairs.

The vital wildlife corridor between Rajaji and Corbett Reserves did not get obliterated overnight. No sir, great efforts were made by us humans in this direction, with varying doses of human encroachments on forest land, clearing of woods for agriculture and industries, unplanned tourism and boom in human population thrown in for good measure.

This encroachment, which began almost 60 years ago, succeeded in killing the wildlife corridor between Rajaji and Corbett Reserves.

According to some disturbing reports which have started trickling in, the district administration of this region has recommended ``regularisation'' of the unauthorised human settlements on the forest land. The official communication in this regard has already reached the Uttarakhand Government in Dehradun.

Roughly 100 years ago, the Terai region of Uttarakhand and Uttar Pradesh reverberated with the exploits and stories of `Sultana Daku’, that swashbuckling

prince of the brigands. With his ``headquarters’’ at several places such as Bijnor, Nijibabad and Gadappu (near Kaladhungi), Sultana became a huge headache for the British rulers.

The Britishers dispatched several armed parties to nab Sultana and his men, but they would all return emptyhanded. Much like the present-day Veerappan of South India- who was accounted for about two decades agoSultana too enjoyed mass support of the local population and therefore, always managed to give the slip to the British soldiers.

Finally, it dawned on the British Government that a well-planned, concerted effort would be required to nab Sultana. As a first step, Jim Corbett- who knew the terrain quite well- was roped in, followed by two British officers Percy Wyndham and Captain Freddy Young.

The three, aided by 300-plus police force and making it one of the most elaborate manhunts of its time, started spreading the dragnet around Sultana Daku. This here is an extremely rare photograph, of Jim Corbett, Captain Young and Wyndham enjoying a meticulously laid-out lunch during their efforts to arrest Sultana.

Sometime around 1922- there are different versions about the exact date- Sultana Daku was finally nabbed. In June or July 1924, he, along with his 15 associates, was hanged to death.

The Terai area holds many such colourful tales. At the same time, it's also a vital link between the past, present

Elephants, tigers and all other wild animalsbless them, they don't understand or respect man-made boundaries! would regularly move from its one corner to another

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and future, of its glorious days which have become history and the need to pick up the pieces and recreate its glory once more.

All is still not lost. Uttarakhand has a history of taking pro-wildlife steps in the past. The vast grasslands of the Chilla region of Rajaji Park were, till about two decades ago, occupied by hundreds of `Van Gujjar' families, who stayed here in their `deras' (makeshift homes) with thousands of cattle. But intervention by the state authorities led to their rehabilitation in the Pathri and Gaindikhata regions outside the boundary of Rajaji.

Today, the once-neglected grasslands of Chila have returned to their pristine glory, and the wildlife (including

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tigers) have made a remarkable comeback here. Similarly, in the Corbett Tiger Reserve, four villages- Dhela, Jhirna, Kathirao and Laldhang- were relocated outside the protected areas with spectacular results.

The wildlife corridor between Rajaji and Corbett Reserves also deserves a second lease of life. The point of no return is still a few steps away. If nothing else, the raging Coronavirus has taught us the value and sacredness of ``all life''. Wildlife doesn't have a vote, but should that be held against it? Please visualise how Earth would look without humans‌Or how a forest would look without birds and animals, its rightful inhabitants? Surely, they deserve a better deal.

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CXO OUTLOOK July-August 2020

CXOs IN FOCUS

Prajodh Rajan, Co-founder and CEO, EuroKids

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The Change-Maker of K12 Education

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ne of the key trends to emerge in 2020 is the changing role of Teachers. Fighting the health crisis of COVID-19, teachers and educators are tasked with the responsibility to ensure that education is not interrupted despite the challenges around us. Incidentally, the changing role of the teacher is intrinsically linked to the next big trend of 2020- the emergence of hybrid home-schooling. “After the initial resistance, teachers and parents are unconsciously beginning to place a structure to home-schooling. The benefits will begin to show in some months as the dust settles on the pandemic”, says Prajodh Rajan, Co-founder and Group CEO, EuroKids International.

The COVID-19 pandemic has affected educational systems worldwide, leading to the near-total closures of schools, universities, and colleges. Most governments

CXO OUTLOOK July-August 2020

around the world have temporarily closed educational institutions in an attempt to contain the spread. To adapt to the changes COVID-19 has brought about to economies and people's lives, some changes would be essential in India’s education system for today’s and future students.

Firstly, with a rapidly changing world, education must move away from rote-learning of dated concepts and evolve towards the holistic development of children by providing them with exposure to myriad experiences at schools. This change will help children comprehend their inherent strengths, discover their likes and preferences, and enhance their abilities for the future. Second, we must move from being focused on inputs to staying focused on outcomes. This will enable us to find out if children are learning as an outcome of going to schools. “While school infrastructure, number of teachers are essential as inputs,

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Prajodh Rajan

When we started, the idea was to create a fun learning experience for young learners with our 'Child First' philosophy - Prajodh Rajan

CXO OUTLOOK July-August 2020

ultimately we need to measure whether children are learning inside the classrooms. Also the New Education Policy announced after 34 years has many steps in the positive direction, that are expected to transform the Indian education system,” says Prajodh.

Giving Traditional Education a Twist Aspiring to offer students a joyful learning experience, EuroKids International has been offering a classroom structure that combines traditional education with a digital medium. It helped them to seamlessly transition from a physical classroom to a digital environment with minimal glitches when the lockdown was announced. Receiving extraordinary support from their teachers and parents who adapted to the 'New Normal' quickly, EuroKids received successful integration in the student and parent’s feedback, which helped them to a great extent. “We also worked closely with our parent community to ensure that children were able to reconnect with their classmates and teachers as soon as possible, through digital channels. So even as there were learnings, there were rewards in terms

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CXO OUTLOOK July-August 2020

of designing a wholesome experience that made learning fun and enjoyable”, adds Prajodh.

Adopting a CHILD FIRST policy, EuroKids International thinks, plans, and does everything with this guiding principle at all times. This very ideology is what differentiates EuroKids from others, leading them to innovate and upgrade their student’s learning experience. “Our team of experts has dedicated years towards understanding the needs of young children and have refined the delivery of curriculum at our pre-schools, to make it new-age and engaging. Our curriculum – Eunoia, which is in its seventh upgrade has been carefully curated keeping in mind practices such as Attention, Resilience, and Kindness that will form the basis of a strong foundation to imbibe 21st-century skills” quips Prajodh.

Partnering with leading international certification agencies to co-create Safety Protocols for Pre-Schools and ensuring the same was applied at their centres, EuroKids was the first to take up this kind of initiative, which has kept them ahead of the curve and competition.

Aspiring to offer students a joyful learning experience, EuroKids International has been offering a classroom structure that combines traditional education with a digital medium

Transforming from a children’s book publishing company into an education company focused on early childhood education and K-12 education, EuroKids faced significant challenges in the initial years. One was to create a sense of awareness for the benefit of a structured preschooling experience for the child and to show parents how child-centric all their efforts are. Prajodh says, "Back in the day, most parents were comfortable sending their child to the nearest pre-school or the most popular preschool in the vicinity. However, as we spread our network of pre-schools, we had to put in a lot of effort and resources towards presenting our pre-schools to parents. Soon, most parents started to realise the benefits of high-quality early childhood education at EuroKids.�

EuroKids has been continuously evolving its identity and experience to provide both the children and parents an excellent pre-school experience. In this journey, they were fortunate to find people who were equally passionate to partner along with them as EuroKids Franchise Partners.

Currently working with more than 1,000 partners across India, EuroKids has people in their organisation who are aligned to their mission of providing a nurturing environment for children, thereby aiding the cause of learning.

A journey filled with learning and unlearning, Prajodh faced a lot of challenges at each stage in setting up and managing operations. “One of the most significant

CXO OUTLOOK July-August 2020

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challenges we faced was at the onset to create a sense of awareness for the benefits of a structured pre-schooling experience. In the early years when we were growing, partner selection was not stringent as today, and we arrived at it only after learning from our mistakes in the selection of partners we have made. Also, the most unexpected lesson is leading to growth has been the fact that we will be successful only if our franchise partners are successful first”, opines Prajodh.

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A Family of Passionate Educators Coming from a family of educators, Prajodh is highly passionate and committed to the cause of reinventing education in the Pre-school and K12 Education space in India. A management graduate from the University of Madras, he is a first-generation entrepreneur who is genuinely interested in science, technology, and passionate about learning and spreading the joy of learning to young children. Being brought up in an environment where the value of education was most pronounced, and the profession of teaching was looked up as a service to humanity, Prajodh has carried some of those values as he built EuroKids, including a strong work ethic which he gets from his parents.

There is no one right way to get inspiration. It is profoundly personal and derives from what is important to and what drives you. But no matter where you find it, it is often an integral part of what keeps you going when times get tough. Though Prajodh has been inspired by many, one name that stands out is his grandfather, K. M. Mammen. “He was a social worker and he, along with few friends, founded an orphanage, school and vocational training centre in Kerala. The institution till today serves as a beacon of hope for many young children who without the care, security and help would have been otherwise severely disadvantaged. His dedication towards his cause has always been an inspiration for me", says Prajodh.

Starting their journey in early childhood education in 2001 with just 2 pre-schools in Mumbai, Prajodh has crossed many milestones and taken significant steps towards making EuroKids the top pre-schooling partner

CXO OUTLOOK July-August 2020

for many young parents. "When we started, the idea was to create a fun learning experience for young learners with our 'Child First' philosophy. A pre-school is the child's first experience away from home, it was, therefore, essential to create a nurturing home-like environment for the child, wherein this transition between home and pre-school is made comfortable”, opines Prajodh.

EuroKids tried to bring science and learning with developmental milestones in the early years. Learning that went beyond the regular alphabets or counting, it was about allowing young learners to explore more and have fun with the structured and multi-exposure curriculum.

0-5 years are critical years to a child’s development & learning, we used age-appropriate stimulation for children this year to ensure that they make a maximum of it. "Back in 2001, organised pre-schooling did not exist as it does today. The need for quality pre-schooling has risen from parents who are looking for quality education that offers learning outcomes for each developmental milestone of a child", adds Prajodh.

Consciously attracting talent from diverse sectors, EuroKids has the best and most diverse talent pool for an education company in India. In their journey of 19 years, EuroKids has evolved as a brand and company that has kept themselves updated with the changing needs of the child and society, except one thing, that is the ‘Child First’ ideology, which has remained constant over these years. Prajodh adds, "When we forayed into the K-12 segment we on-boarded the right mix of team members who had expertise in this segment, and we also strengthened our team to include specialists with direct delivery experience since EuroSchools were directly owned and managed by us.”

Continuing to keep their mission ‘Child First’, EuroKids is rolling out the next academic year curriculum through digital classrooms and move towards a blended learning model to ensure continuity for their students once the school reopens. “One key focus for us will be to build models for creating a Personalised learning experience which will create Engaged, Self-motivated and Independent Learners for life”, concludes Prajodh.

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CXO OUTLOOK July-August 2020

LEADER'S INSIGHTS

Role of Technology in Reshaping the Future of Logistics 76

Sandeep Goel, SVP - Technology, Moglix A computer science post-graduate from the Indian Institute of Science with experience in Digital transformation using Mobility, Analytics, Industrial IoT and Artificial intelligence, Sandeep Goel has over 21 years of experience in setting up, managing, acquiring, and integrating businesses. He has extensive leadership experience of working across diverse industry verticals like investment banking, FMCG, CPG and process manufacturing.

Sandeep Goel

F

our months into the COVID19 pandemic, the new contours defining the technology enablement of logistics are beginning to emerge.

Diverse stakeholders in the logistics ecosystem are faced with the challenge of staying connected to the real economy from the protected environments of their homes. While traditional metrics of cost, quality, and turnaround time continue to be in focus, supply chain security has emerged as one of the key concerns. Enterprises continue to reimagine logistics and zero down the gaps in their supply chain by pooling resources and people in their logistics networks. Technology will play a new role in reshaping the future of logistics by enabling the integration of the core sectors in the real economy with digital platforms.

CXO OUTLOOK July-August 2020

As businesses look to have greater control over their supply chains in the near future, access to realtime information on the status of cargo during transit journeys are going to redefine visibility and predictability in logistics

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What are The Major Technological Drivers of Transformation in Logistics?

Given the factors affecting logistics, the following technology drivers will steer the transformation of the vertical through the pandemic and beyond: â—? Blockchain to Support Paperless SOPs for Global and Domestic Trade With the reset to existing economic partnerships and the rise of protectionism in trade accompanying the COVID19 pandemic, businesses will look for faster, and more efficient ways to collaborate with customers, government agencies, trade regulators, and banks for the implementation of standard operating procedures. The rise of new-age technologies like blockchain will enable businesses to create new avenues of technical and economic efficiency in collaborative processes for trade documentation and management of data of record governing trade by reducing cycle times, and asymmetries of information. â—? Artificial Intelligence and Machine Learning to Enable Lot Size One While offline processes have limited the scope for traditional manufacturing processes to deliver made-to-order products, OEMs and large manufacturing enterprises will be able to achieve a lot size one by pivoting their supplier collaboration and logistics for the assembling of different parts and line items on artificial intelligence and machine learning. Cutting edge AI and ML platforms will enable logistics services providers to partner with enterprises in the value chain to provide greater cost optimization in the transport and delivery of cargo for made-to-order products through better trucking and route optimization solutions.

CXO OUTLOOK July-August 2020

● Robotic Process Automation to Enable Insta Quotes for Shipping Cargo Given the disruptions and delays caused by the downtime of suppliers and logistics route alterations due to lockdowns, businesses across industry verticals have witnessed a rise in the costs of their supply chain operations, with a formidable proportion of such inflated costs being assigned to logistics. However, the rise of robotic process automation can provide solutions to such challenges by facilitating visibility into instant quotes on shipping costs based on chosen logistics routes, cargo volumes, and cargo types.

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● Physical Internet and Augmented Reality to Make Cargo Safer During Transit As businesses look to have greater control over their supply chains in the near future, access to real-time information on the status of cargo during transit journeys are going to redefine visibility and predictability in logistics.

Physical internet and augmented reality will enable truckers, freight forwarders, and customers to access visuals of the cargo in real-time even as it moves from one point to another in the downstream of the supply chain thereby making logistics more transparent and predictable than ever before. ● Mobile Apps Development to Enable E-Kanban in Warehouses and PUDO Centers With the COVID19 pandemic showing the importance of track and trace of cargo at different points of stocking and inventorying in the distribution network, smart warehousing solutions that enable greater visibility into the sorting and segregation of cargo shall be in vogue. Custom mobile application development for people at warehouses and pick-up & drop-off centres will enable businesses to codify and record data on cargo handling like uploading, movement, storage, and downloading across physical environments and multiple modes of transport. Not only will it make warehousing processes low-touch, but it will also make the

CXO OUTLOOK July-August 2020

More about

Sandeep Goel With

his

valuable

experience

of

working in diverse markets in the U.S. and U.K, Sandeep, who is now based in Hyderabad,

India brings valuable

worldview to Moglix. An avid reader and a globe trotter, Sandeep is passionate about sharing his learning with the broader community of people through teaching.

Sandeep

currently

heads

Technology and Human Capital at Moglix.

He has been teaching at a Post Graduate Diploma Program in Human Resource Management

since

the

year

2008.

Sandeep follows his proprietary teaching technique named “AnaLogica”, which leverages a combination of analogy and logic for effective learning.

adoption of best practices like e-Kanban more efficient and feasible. â—? Smart Packaging and RFID to Enable Better Track and Trace of Last-Mile Delivery One of the major concerns emanating from the pandemic is the fall in consumer trust and consequently, a greater demand for visibility into the last-mile delivery of goods. This is especially the case in verticals like retail, e-commerce, consumer goods, and pharmaceuticals. Smart packaging and the use of radio frequency identification devices (RFID) shall enable businesses to share information on the last-mile delivery of goods in these industries and can be a major enabler of providing de-risked and safe customer experiences.

One of the major concerns emanating from the pandemic is the fall in consumer trust and consequently, a greater demand for visibility into the lastmile delivery of goods

â—? Crowd Sharing Platforms and Deep Learning to Agile Pricing Models While traditional commerce has in the past allowed consumers to underplay the delivery costs for the shipment of consumer cargo like courier, express, and parcel, a reversal of this trend is setting in. Consumers are more likely to be willing to pay higher prices for safe farm to fork deliveries in categories such as food & beverages, processed food items, and dairy products. New-age crowd sharing platforms that work on deep learning shall facilitate communitybased local logistics networks to share fleets of mini-cargo carriers to drive cost efficiency and on-time delivery through new models of agile and surge pricing.

The End of the Shipper-Agnostic Era and The Rise of Localized Supply Chains Even as businesses continue to move forward on the learning curve amidst the pandemic, the conventional wisdom of consumers being shipperagnostic is changing fast. Furthermore, with changing equations of geopolitics and economic partnerships, businesses want to de-risk their supply chains by choosing local freight forwarders and multimodal logistics service providers with strong digital competencies. The focus on supply chain security and the need to stay connected to their logistics systems and processes will drive greater penetration of technology into logistics.

CXO OUTLOOK July-August 2020

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MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

CXO OUTLOOK July-August 2020

A

s per the reports from the industry, the garment manufacturers in India have effectively received no orders from domestic fashion retailers in May and June, which is supposed to be an essential time for businesses for the fall season. As a part of cost-cutting, most of the fashion retailers have stopped placing fresh orders, as they are planning to continue with the selling of unsold spring-summer collection at least till October 2020. Now, the many small and medium manufactures are thinking of closing their factories, which means thousands of people working in this sector are going to be jobless.

Like any other industries during COVID-19, fashion has not been immune to the drop in customer demand. According to Clothing Manufacturers Association of India (CMAI), which represents over 4,000 manufacturers, there has been a drop of 84 per cent in sales compared to the corresponding period of May 2019, and that too, primarily because some factories had started manufacturing masks and other PPE products. The CMAI report further says that only 22 per cent of the garment factories resumed operations by the end of May. For the Fashion Industry, the past decade was a success story. The industry was on consistent growth, Asian market showcased a strong performance, and the online shopping boom created a bright outlook. Until the start of the pandemic, the sales forecast for 2020 looked promising. The McKinsey Global Fashion Index had predicted that the fashion industry will continue to grow at 3 to 4 per cent in 2020, slightly slower than the 3.5 to 4.5 per cent estimate for 2019. Now, the pandemic has affected the global market, and the industry leaders are concerned about the sales figures. However, many hopes that, out of this crisis, there will be silver linings and positive impacts for the long term.

Identifying the heroes of Beauty and Fashion industry who have been successful in managing the challenges pandemic, we have come up with ‘10 Most Inspiring CXOs in the Beauty and Fashion Industry in India.' In a way, they are also warriors during this tough time, as they have been able to find effective strategies to save their businesses and keep their employees safe. We hope our efforts to feature their stories would inspire the next generation of leaders in India.

CXO OUTLOOK July-August 2020

MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

Name

Designation

Company

CFO – Lifestyle Business

Raymond Group

Chief Executive Officer

Lee Cooper

Kavindra Mishra

CEO and Managing Director

House of Anita Dongre

Neethu Agarwal

Managing Director & Chief Executive Officer

Canberg Global Sourcing

Marketing Head

Kaya Limited

Priyaranjan Kumar

Chief Operating Officer

Iconic Fashion India

Rachel J Amirtharaj

Founder

La Fantaisie

Rajesh Jain

Managing Director & Chief Executive Officer

Lacoste India

Sandeep Pal

Chief Operating Officer

Aditya Birla Fashion and Retail Ltd - Pantaloons

Shailesh Chaturvedi

Chief Executive Officer

Tommy Hilfiger Apparels India

Bibek Agarwala

Hetal Kotak

Pooja Sahgal

CXO OUTLOOK July-August 2020

MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

Kavindra Mishra,

Managing Director & CEO, House of Anita Dongre Limited

A True Leader 84

in Tough Times

F

or a moment, imagine that COVID-19 has never happened. Kavindra Mishra, CEO and Managing Director, House of Anita Dongre, would start his day with a 45 – 60 minutes run, followed by a healthy breakfast. He will catch up on his reading through the one-hour travel that he takes to reach work. During the first crucial 30 minutes in the office, Kavindra would plan his day and the things that need to be achieved by the end of it. Then he jumps right into reviews, meetings, design presentations and so on. “The day flies by at the office, and I typically end up leaving office by 7:30 - 8 PM and reach home by 9 - 9:30 PM. My evening drive home is usually spent reviewing the day’s sales numbers. Then a few hours with the family, including my dog and that concludes by day,” shares Kavindra Mishra.

CXO OUTLOOK July-August 2020

Now the routines have changed. Kavindra workday is around virtual meetings from home.

However, as a leader who has been a part of the industry for over 21 years, Kavnidra's attitude remains unaltered. He still tries to learn new things, continually challenges himself and adapts to the changing consumer trends. “I sincerely believe that the true test of a leader's skill and character comes out only during a crisis. I am a very people centric person, and this has been a great opportunity for me to bond with my team and other members of the organisation and take the spirit of camaraderie forward,” shares Kavindra.

During this time of the pandemic, Kavindra regularly manages to have one-on-one sessions with his team and ensures that they are in a positive state of mind and motivated. He says, “The 'mind' is the single most powerful thing

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Kavindra Mishra

"You learn more from mistakes than from your successes, and it has been the same case with me" -Kavindra Mishra

CXO OUTLOOK July-August 2020

and my effort along with other leaders of my team has been to inculcate positivity in spirit and action in the organisation.

Frequent interactions help me gauge the overall morale of the company.” As a result of Kavindra’s efforts, the teams at the House of Anita Dongre are in fantastic spirit right now, and he believes that they will come out of this crisis much stronger than most of their peers.

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Tacking the ‘COVID’ Storm “The COVID-19 crisis has been an unforeseen event for the world and has impacted everyone. When the pandemic began, no one was prepared for what it would bring along and how it would impact our lives," states Kavindra. As an organisation, the first and topmost priority of the House of Anita Dongre was to be with their teams and ensure their safety. He adds, "Our organisation has always had a People First approach, and in these adverse times we have gone an extra mile to ensure that everything we do in the coming months is towards safeguarding our employees.”

Setting up a core team that would identify various practices and projects and drive the business requirements innovatively to adapt to the new normal was the next thing they did. The House of Anita Dongre’s approach was to keep the consumer at the centre and identify their behavioural pattern.

Through this, their next priority became digitisation to provide the right consumer experience in today’s scenario. “Finally, we have also looked at optimising our resources.

All our spends have been minutely scrutinised to ensure maximum effectiveness on minimum spends. We are also working closely with all our partners to work out solutions which can lead to a situation where everyone wins!”, pinpoints Kavindra.

A deeply spiritual person and an avid reader of the Gita, Kavindra feels the learnings have helped him remain calm and gain a detached perspective on things. Having been in the retail career for so long, store visits have become a part of his DNA. “I make it a point to visit the stores at least two days a week. Interacting with the store managers and observing the consumers have laid a foundation

CXO OUTLOOK July-August 2020

Kavindra Mishra

The past experiences have given Kavindra an understanding of consumer needs and their behavioural dynamics, which helps him in identifying the need a brand must fulfil

for my growth in this industry. It is essential to have a ground root reality of your industry", opines Kavindra.

The brands under House of Anita Dongre have great leaders who have excelled in a lot of good practices. As the MD and CEO, Kavindra is mainly focusing on setting up more strategic and long term plans, strengthening the merchandising strategy, creating a more robust channel mix to further grow the brands, digitalising the organisation to be ready for the digital revolution, and mentoring the teams to ensure a seamless and swift working environment.

House of Anita Dongre is a fashion house that pioneers in premium women’s fashion. The fashion house has very inspiring founders who have always been open to newer ideas and improving the way of working.

Kavindra shares, “It was a great opportunity for me to learn and work in the women’s wear market and address its needs. At the House of Anita Dongre, I had added advantage of working with great promoters and one of the best teams in the industry. Taking up this role has been a complete win-win situation for me.”

The past experiences have given Kavindra an understanding of consumer needs and their behavioural dynamics, which helps him in identifying the need a brand must fulfil. “Strategic thinking ability, understanding the channel play, the ability to create and launch new categories and develop new markets along with my understanding of the eCommerce business due to my own experiences as a co-founder of Zovi.com has helped me immensely,” explains Kavindra.

A Journey of Ups and Downs Completing his schooling from Mahanagar Boys Inter College in Lucknow, graduation from DAVV, Indore, and post-graduation from IIM Bangalore, Kavindra was a hard-working student who believed in studying and preparing well for his exams. A quality which he follows even today in his life and career, Kavindra ensures that he is well prepared and gives his 100 per cent when it comes to putting effort. "Everyone expected me to crack my Engineering exams and get into IIT, but I didn't qualify. While I was disappointed about it, it also made me realise that at times despite putting in the best of your efforts, we might not succeed. I could have gone into a negative zone after this, but I chose to forget about it and look for a new path. I learnt to move on from my failures, be positive and overcome the challenges ahead and succeed", says Kavindra.

Starting his career in retail in 1999 after completing his post-graduation from IIM Bangalore, Kavindra has crossed some significant milestones. In 2006, Tommy

CXO OUTLOOK July-August 2020

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Hilfiger was launched in India, where Kavindra was the Vice President Retail. He led the growth, which made Tommy Hilfiger one of the first leading international brands in the country. In 2009, Kavindra drove the profitability and growth at United Colours of Benneton as the Commercial Director for India Business. Unlocking the brand potential by changing the business model, UCB grew exponentially after that in the country under Kavindra’s guidance.

In 2011, he co-founded Zovi.com with a small team that was able to achieve many highs, along with being the first Indian e-commerce brand to be funded by Saif Partners and Tiger Global. Joining Pepe Jeans India as their CEO in 2013, Kavindra was soon promoted to the MD's role. "My journey at Pepe Jeans has been extraordinary. Under my leadership, we transformed the India business and made it the No. 1 country in terms of business for Pepe Jeans Global leading to launching many global initiatives from India. There were many category and business expansions like the launch of Pepe Jeans Kidswear, Pepe Jeans Innerwear, expanding into Indonesia market, setting up a Global Sourcing office in India to cater to the global needs. These achievements were a result of a great team which was equally motivated and passionate about the shared goals,” reminisces Kavindra.

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Kavindra Mishra

CXO OUTLOOK July-August 2020

Learning from Mistakes It is said that, when leaders are honest about their shortfalls and can learn from their mistakes, they earn respect and along the way, create an environment of transparency. Kavindra says, “There have been many stumbling blocks, hits and misses during my professional career. You learn more from mistakes than from your successes, and it has been the same case with me.” Understanding the importance of taking the team together in your growth journey has been the most significant learning during Kavndra’s career. He adds, “It is especially important to be aware of the stress level of your team and their morale. You are only as strong as the weakest link in your team. Hence it is important to first strengthen your team before taking that big leap.”

There is a time and place for everything which Kavindra learnt the hard way. He opines, “Patience is a virtue which we often talk about but how to apply it in real stress situation is something which all of us need to practice. Hence it important to be

89

Kavindra Mishra patient and wait for the right time, whether its launch of a new product category or our own career move.�

Today, Kavindra finds himself to be truly inspired and influenced by Mr Shoaib Faroqul, his mentor at Madura Garments. “He taught me the values of being compassionate and supportive and the ability to pass on the knowledge. He made me believe early on in my career that good people always succeed. It is this value that I have been carrying on and following till date�, recalls Kavindra.

Currently focusing on coming out of the crisis with a strongly motivated team and build betterconnected brands for their

consumers, Kavindra aspires to grow multi-folds over the coming years and drive sales and profitability of each brand in their portfolio. "In many ways, we are the flagbearers of the sustainability movement in India and the vision of the founders and the whole management team is to make this the biggest sustainable fashion house in the country", concludes Kavindra. Continuing with the same vision of sustainability Kavindra is also going to be a part of the sustainability working group in the CII Committee on Retail and looks forward to driving this in the policy making and suggestions at the highest level

CXO OUTLOOK July-August 2020

EXPERT OPINION

Volunteering Management is the Need of the Hour!

Maanoj Shah, Social Entrepreneur and Founder, GiftCHANGE.org Maanoj Shah who describes himself as a

‘Giver’ and has

90

won many hearts through his

social initiatives. He is a finance expert,

who has

helped build strong enterprises in diverse sectors like Hospitality, Technology, Healthcare, HR & Consulting in various CXO capacities over the last 20years. His dynamic leadership and keen eye on strategy and scaling up, have helped him incubate businesses and successfully exit various ventures.

Maanoj Shah

F

rom distributing free food packets to the needy, arranging transport to get migrants back to their homes, taking care of strays during the lockdown or helping the senior citizens or disabled people left alone during the lockdown, volunteers and good Samaritans have stepped forward to act in the face of the crisis and make a difference, in whatever little way they could. These included members of social or religious groups, CSR arms of MNC’s and registered NGO’s, as well as a lot of individuals, with little or no exposure to volunteering activity earlier. And this has been a welcome change in the often self-absorbed and detached population of Indian metros.

CXO OUTLOOK July-August 2020

While most volunteers in India today are an un-organised, self-motivated lot, the rise of social entrepreneurship and organised change makers are paving the way for a more robust not-for-profit ecosystem

While most volunteers in India today are an un-organised, self-motivated lot, the rise of social entrepreneurship and organised change makers are paving the way for a more robust not-for-profit ecosystem. The rise of ‘Knowledge’ as a currency is another significant trend that is shaping the future of volunteerism in India. So far, it was common notion that one can donate either money or time (labour) for a charitable cause. That is now changing, as an increasing number of experts across the fields of technology, medicine, arts, humanities, and social welfare, are stepping forward to lend their specific professional expertise for a cause of their choice. However, we are yet to find a structured approach to be able to fully leverage the power of these individual volunteers to shape, build, and strengthen our nation!

In order to handle this, it is important to create an approach that is different from a ‘productivity’ and ‘profit’ focussed approach of HR management for corporate. The volunteerism management structure needs to work towards cultivating empathy, motivating action, driving ownership, and generating pride for the desired change, among volunteers. This essentially can be achieved through a step by step manner, as follows:

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Create Motivation to act • Engage through a compelling Social Initiative • Share the impact and the ultimate vision • Highlight ground realities supported by facts and figures so as to quantify the goals • Share details of existing and required external support, in the form of Crowd funding, sourcing of Volunteers through Social Media, WhatsApp groups etc.

• Creating partnership with Social Workers and other NGOs

CXO OUTLOOK July-August 2020

More about

Maanoj Shah Maanoj Shah is a Social Entrepreneur whose passion, vision and his meticulous approach has led him to play an important role in Khana Chahiye, a citizens' initiative to feed the hungry during COVID. Maanoj is part of their core team and leads their Volunteers Resourcing & Management. He and his team successfully provided 30 lakhs meals to mainly, hungry migrant social workers in Mumbai during the lock down period.

Maanoj has also co-created another social initiative CoronaChampion.org which is a Mental Health initiative, led by volunteers and citizens which aims to remove stigma and fear associated with the COVID 19. Instead, it promotes hope, inspiration and positivity amongst people through inspirational stories of Corona recovered cases and Front line warriors (Doctors, Nurses). Its main aim is to help people cope with stress of COVID and reduce the fears and misconceptions. The stories are in the form of blogs,

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audios and videos.

Additionally, he is also starting another Social Venture www.GiftCHANGE.org, a CAUSE driven social

platform that will help connect NGOs with CSR, Donors,

Volunteers and Influencers to come together to scale their impact.

A Chartered Accountant and a Certified Informations Systems Auditor (CISA), USA, Maanoj was born in a business family where numbers, enterprising and risk taking was a natural inheritance as was the sense of charity.

Since childhood he has been involved in a lot of social charitable activities. At the age of 18, he along with his friends ‘Founded Creative Youth Club’ to help showcase the talent of the local youth in his colony and by age 25 he became youngest Rotary Club member and managed multiple portfolios like Club Treasurer, Secretary, Director of International Service. He became the President of Rotary Club at the age of 31, thus becoming the youngest President in his District. Currently he is the Chairman Strategic Planning Committee of the Rotary Club of Borivalli (Mumbai).

CXO OUTLOOK July-August 2020

Map skillsets • Figure out their personal and professional background and interests • Assess the willingness, enthusiasm and self-motivation of the Volunteer • Identify target areas/ teams which best suit the volunteers skillset, temperament and nature • Allow them to choose from a set of roles that will be best suited to their skillsets • Once selected, guide him through the way forward

The volunteerism management structure needs to work towards cultivating empathy, motivating action, driving ownership, and generating pride for the desired change, among volunteers

Smooth On-boarding • Check their availability in terms of time, for both physical and virtual presence.

• Guide them through the rules and regulations of basic on-ground work, including local intelligence needed for their role • Provide support staff, and material like Doctors, Audio and Video material, Posters, etc..

Feedback on impact • Get a feedback of their experience in the first few days and understand challenges, if any • Re-engage with them to share the over-all view the goal of their activity • Assure them of support and additional resources, if needed Create ownership • Engage on Whatsapp and social media groups to share success stories, case studies, media coverage reports, and impact numbers etc., to create a sense of pride in association with the cause • Encourage them to enrol more friends into the initiative so they have added reason to continue • Encourage them to become ambassadors of change, and promote this initiative among social media, and friends and family Recognition • Motivation and recognition through internal groups as well as public domain announcements • Periodic announcement of impact numbers and acknowledgement for the change • Thank You and Feedback Team meetings As much as we all look forward to government aids and supportive policy changes, it is the decision to proactively take action, and make a difference at the grass root level, that actually builds a community, a society and a nation at large. From offering technical know-how, medical expertise, writing and designing services, to initiating music concerts and art exhibitions across the globe to raise money, the new age volunteer holds massive potential to make a difference. And it thus calls for effective volunteer management practices to leverage this potential and create a more prosperous and equal society! And that is exactly what can help India, as a democracy, to not only survive and tide over the current health crisis and economic slowdown, but also help in building a strong and united economy, in the coming years.

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INSPIRING

IDEAS

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Curating a Simple and Delightful Used Car Buying Experience Led by Niraj Singh, Spinny is a new age used car retailing platform in India.

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ars are not just a dream or excitement anymore; people have got a lifelong lesson that they must have a personal source of mobility to attend any on-demand need.

Currently, more than 70% of used cars are being bought by Indians under the age of 40. Only 4% of people are satisfied with their experience of buying a used car. Working towards solving the problem of trust, transparency, and simplicity in this process.

"Our clear motive is that the buyer should be able to purchase the car with the same confidence as he or she does in the case of a new car. Being a full-stack retail platform that owns the complete process from car inventory to retail experience, we are more prepared to cater to the needs of this new normal, keeping all the safety measures in check.

The customers appreciate this forward-thinking to buy a car", says Niraj Singh, CEO, Spinny.

Founded in 2015, Spinny was born out of Niraj’s desire to deal with the core area that directly addresses the consumers’ pain points, i.e., Car Ownership for Young Indians. “I noticed the absence of a platform that offered a trustworthy and premium experience to people purchasing second-hand cars, even though they were spending a significant amount of money. I was determined to solve this problem by addressing the distrust and making the process simple and straightforward for the customer”, quips Niraj.

Auction platforms and classifieds focus on the availability and the number of cars. In a franchise model, it's difficult to maintain strict control over quality. And, for manufacturers, focus on new cars has to be their priority. With a full-stack retail platform for used vehicles, Spinny can ensure top quality cars and curate an end-to-end customer experience. This provides the agility to keep evolving the process, based on consumer and market expectations.

Building a Customer-first Car Purchasing Experience An IIT alumnus, Niraj always had the acumen for entrepreneurship and engineering with the finest brains harnessed as an objective approach to problemsolving. “I, with my batch

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At heart, we are a few car nuts, and the cars we would drive are the only cars we sell

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mates, started off the first business in 3rd year - online Physics classes to students preparing for competitive exams. The clear intent to solve a problem leads to the means to a solution. That's still our approach and how Spinny was conceived. 96% of used car buyers are not satisfied with their experience”, recalls Niraj.

With the logo inspired by the road-sign of ‘S-curve ahead’, the name Spinny encapsulates the sentiment of the driving in that tricky road. Still, in the right car, it's the most exciting. "It has a facet for car enthusiasts, the kids in us where one is spinning and sliding the car. We were clear to cater to young Indians, and it had that right ring", adds Niraj.

Raising fresh capital for Rs. 315 crores from Nandan Nilekani’s Fundamentum Partnership in March 2020, Spinny had started-off with initial funding from Blume Ventures, Smile Ventures, Accel, SAIF Partners, and Alteria Capital, totalling close to Rs. 103 Crores. “We are targeting corporate-level profitability by the end of next year. However, we continue to raise more funds to diversify into ‘new segments’ related to solving customer problems, evident in why the brand has nowhere the word ‘car’ mentioned in it”, adds Niraj.

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Facilitating an environment where every employee is inspired to do their best work. "We maintain a flat hierarchy, where each member has the complete authority to express views or discomfort if it's affecting work or customer experience. At heart, we are a few car nuts, and the cars we would drive are the only cars we sell", says Niraj.

Adapting to the ‘New Normal’ During the COVID19 Outbreak, Spinny was the first to adapt to an utterly contactless car buying and selling experience with their initiative '#WithExtraCare, facilitating home test drives and home delivery. “Also, we have come up with a new industry-first marketing pricing model, where the company sells each pre-owned car at a price quoted on the website, and there are no hidden charges or negotiations. There is no salesman margin or a dealer commission, the organisation owns the inventory, and it passes on the cost-benefit to the customer without compromising on the quality of the cars. It came with a risk of customer acceptance, but we are seeing customers recognising the effort. This is a very unique feature that no other competitor is offering.", says Niraj.

Young India is gearing up against the odds to fuel the economy. During these uncertain times, owning a car is considered as the safest way of personal mobility. Also, the liquidity crunch is shifting the demand towards pre-owned cars. Spinny is working through this opportunity. Being a full-stack retail platform, they are taking it as their responsibility to set industry standards in zero contact processes with extra care. The customers recognise it, and the company has seen a sharp increase in enquiries for Home Test Drives.

"Expansions to new cities have been pushed to a lower priority to focus on going deeper and perfecting

the initiatives that are required to deliver a safe experience," says Niraj.

The overall units’ demand has bounced back to more or less similar to the pre-COVID days. Despite the lockdown, we managed to sell over 2700+ cars since the 3rd week of May'20, 50% of which are from Banglore followed by Delhi NCR (35%) and Hyderabad. We’ve observed a 19% increase in demand since May for cars in the Rs. 3 lakh - Rs. 5 lakh price range that contributes to about 50% of the overall demand. Interestingly, cars in Rs. 5 lakh - Rs. 7 lakh range are now contributing 28% of the overall demand - an increase of 30% since May With the safety of the customers as well as employees as the top priority, Spinny is using focusing on home test drives and home deliveries. The pandemic is going to change consumer behaviour for the better. Spinny is going to keep the operations and execution lean, i.e., to cater to any new developments that are desired from the market.

The sole effort would be to keep raising standards in safety, hygiene and contactless buying experiences while offering the expected 'Spinny delight’ to our customers.

“As the situation of the county returns to normal, we would evaluate venturing to newer cities as per the existing plans - however, our retail experience could see developments owing to the positive customer response on Home Test drives and deliveries”, concludes Niraj.

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MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

Neetu Agarwal,

Co-founder and CEO of Canberg Global Sourcing

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Leading from the Front to a Safer Work Environment

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anberg Global Souring company is today India’s leading clothing & fashion solutions company with a high focus on industrial workwear with manufacturing facilities in India & Sri Lanka.

Co-founded by Neetu Agarwal, a firstgeneration entrepreneur, with her sheer hard work and determination has put the business in the global platform servicing customer spread across the world with key concentration being in the European market.

Based out of Kolkata, Neetu Agarwal from an early age showed leadership qualities and had always been passionate about starting her own business enterprise. An apparel unit

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was an obvious choice because of her postgraduation from National Institute of Fashion Technology. She knew with just a postgraduation, it was not enough and hence joined a leading manufacturing company in Kolkata which was into manufacturing industrial workwear, eco-friendly bags, and sustainable fashion accessories to gain hands-on experience in running the business. "I worked there for over seven years before setting up my own business together with friends. In 2008, we founded Canberg Global Sourcing to engage in responsible manufacturing and sourcing based in India as well as other Asian countries defying the challenges of the unstable economy at the time� recounts Neetu.

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Neetu Agarwal

"The mantra for success for me is Commitment, Innovation and Dedication" - Neetu Agarwal

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Chartering unknown territories unabashedly and fearlessly for over 12 years, Neetu has scripted her own success story in today’s new age world

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Neetu Agarwal

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Becoming a Leader If females choose to lead – they will do wonders, and the world would be a better place. "I think I have let that influence me a lot growing up," says Neetu.

With her life, Neetu has proven that if you love what you do, success will follow. She adds, "if you want to become an expert in a field, you should choose a work that you love to do. The mantra for success for me is Commitment, Innovation and Dedication."

Today Canberg Global Sourcing employs 85% of its workforce as women with the vision of being a socially ethically and environmentally conscious organization with a key redress to women empowerment. “Canberg strives to bring about a change in society with inclusive growth and generating employment for different strata of people and helping them grow. “Neetu and her team have endlessly worked in ethical and responsible sourcing and providing quality products and service to the world at large. She adds “we believe in the maxim that ‘Goods well bought are half sold’ and it is our endeavour to match the best supply to the suitable market.”

Though making any journey as the head of an organization is not much different irrespective

of gender. She affirms, “It is the mental prowess dexterity and agility that features predominantly on how you succeed. Of course, as a woman, I have handled things with more compassion and heart rather than ruthless calculation and analysis over the years. This is usually dominant in my dealings” Canberg Global Sourcing is an equal opportunity workplace and merit where intellect and commitment feature as major factors rather than degrees and certificates. Neetu pinpoints, “I am more of a believer of management by guidance. I prefer to let my teamwork with their ideas and in their unique way as long as they can deliver the desired results within schedule.”

Canberg Global Sourcing started operations during a time when running a business was considered difficult due to the unfavourable economic situation around the world. The Great Recession—sometimes referred to as the 2008 Recession – was on. The companies of all sizes were struggling. However, Neetu could steer the ship rather smoothly owing to the connections she had managed to make while working in the previous company. Still, the problems were aplenty. “In India, the major challenge was what most of the new businesses face - too much of Governance,” recalls Neetu. Indeed, the archaic rules and norms, as well as the fangled bureaucracy frustrate most of the young entrepreneurs within the first few years to close shop. There were considerable challenges in the banking and financial areas too.

“India, despite its massive economy, was in its

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nascent stages when we talk about the commercial environment conducive to business,” states Neetu.

The company had a very lucrative venture of merchanting trade through their subsidiary and other manufacturers in Asia to earn Forex for the country. However, the whole banking system in India was out of its depths so much about the mechanisms of the same. This frustrated Neetu, and she decided to further reduce CANBERG ‘S exporting footprints in India and work directly more through the subsidiary. Soon after settling business in India, Neetu diversified and expanded manufacturing operations in Sri Lanka. “The uncertain scenario in India at the time and the hostile business environment pushed us to look for production options outside India and more so as it worked with our vision of business continuity and growth strategy,” explains Neetu.

Although Sri Lanka did welcome Canberg Global Sourcing with open arms, the country

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had its own set of challenges to offer. One of the significant advantages of being in Sri Lanka was majorly zero duties for exports to the EU. Unfortunately for Canberg, it was revoked within a few months of her investing there, rendering the whole operation much less viable. The bureaucratic blow resulted in long term losses while the Canberg Global Sourcing tried to settle in a country that was recovering from the devastation of long-term civil war and growing by leaps and bounds. Neetu shares, “This was making all the other products and services in the country much expensive month on month. It took us a few years and sustained pouring in of resources to get out of that cycle. But we handled it with grit and determination to come out of it at the other side smiling.”

Chartering unknown territories unabashedly and fearlessly for over 12 years, Neetu has scripted her own success story in today’s new age world.

Canberg Global Sourcing is now specialized in

sourcing a wide range of products from different corners of Asia and catering to a clientele stretching across the globe.

The company has a variety of products from Fashion Clothing, Workwear and Uniform, Fashion Accessories, Textile based furnishing and Lifestyle Products.

With a network of buyers and vendors spanning the globe, the company works diligently to ensure fitting and timely matchmaking. “We work with our supply chain vendors who are accredited to all social, ethical, safety and quality compliances and norms as required by the different global organizations and complete with SA 8000, ISO 14000, OEKOTEX and C-TPAT requirements and compliances,” claims Neetu.

Managing the Uncertain Times COVID-19 has taken the world by surprise and had an unprecedented and far-reaching impact on global businesses.

“These are difficult times for anyone especially an SME like ours where we do not have unlimited resources but still the responsibility to cater to the needs of the people and workforce associated with us,” says Neetu. Canberg Global Sourcing has been prudent and responsible in their spending to ensure that everyone has been able to sustain during the lockdown and closures of the manufacturing plants for nearly two months and while limping towards normalcy in the following weeks.

“This is something that no business school or crisis management handbook has ever prepared anyone for,” Neetu adds. The company has been gearing up for business continuity with developing and combining the alternative products in their line in the emerging scenario.

“Going online would be a part of the business strategy to make the products and services available to the B2B as well as B2C market. We have been working from home during this time as most of the world, but it is really not much to do when everything revolves around manufacturing and logistics, and those are closed,” explains Neetu.

In Canberg Global Sourcing, Neetu and her team believe in inclusive growth and commitment. They have been able to manage the pandemic and its fallout without significant setbacks and hope that they can follow this trend in the coming months. “It has been tough to keep up the morale of the people and get them motivated. However, we have worked on it, and I would give kudos to my team for working diligently on keeping everyone upbeat. Now the factories are back to work with almost 80 per cent of capacity before lockdown,” shares Neetu.

Despite the roadblocks, Canberg Global Sourcing has managed to keep most of their orders. Neetu says, “Though some have been on hold but not cancelled. This gives us a positive outlook for the future. But we can only estimate a continuation of this.

The trickle-down has started in many verticals, and it might catch up with most of the industry soon.” Neetu believes that with a robust foundation and some corrective measures, she might be able to tide through this too. The company is also gearing up for partnering with other system solutions providers to make themselves more adept for off-site working as well as carving a new market for their products and services altogether.

Today, the plan for the Canberg Global Sourcing is two-fold. One is to be a name to reckon with in the fashion and lifestyle industry in the international arena – mainly for CANBERG ‘S sourcing and vendors management services. Other, to become a major player in the contemporary workwear in the emerging economies, including India.

“We are also working on the blueprint to create about 10,000 jobs and engaging many more than that number directly or indirectly in gainful employment by the end of the decade,” concludes Neetu. "I have always wanted to live as a person who made a difference – a positive difference. I hope that I would be able to achieve that by the time I am ready to hang my boots."

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EXPERT OPINION

How to Negotiate with VCs? Skills Startup founders Should Master

Dr. Apoorva Ranjan Sharma, Cofounder of Venture Catalysts & MD of 9Unicorns Accelerator Fund

Dr Apoorva Ranjan Sharma is a seasoned veteran in the startup sector and a serial investor.

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He is a seasoned veteran in the startup sector and a serial Investor. Dr Apoorva is a globally acclaimed angel Investor, speaker and previously been a speaker at RISE Conference Hong Kong, Web Summit Lisbon, TiE Global SF and many more. He is also co-founder & President of Venture Catalysts - Asia' first integrated incubator and No. 1 Early Stage Investor in 2017, 2018 & 2019, and globally 7th largest as rated by Crunchbase. He is one of the most iconic figures in Dr. Apoorva Ranjan Sharma

India to foster the development of startup ecosystems across Tier 2 and 3 cities in India as featured by Forbes magazine.

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s the coronavirus pandemic continues to disrupt the business environment, it is a difficult time for entrepreneurs seeking financing. The economic slump triggered by the COVID-19 pandemic has created a severe funding crisis in the startup ecosystem.

Most startup investors are apprehensive about making new deals and

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Understanding the business leverage of your company will allow you to be more firm in your approach to VCs

are focusing on their existing portfolio of companies for the time being. Even if some startups manage to secure funding, they are not getting valuations as per their expectations. Given this scenario, startup founders must know how to negotiate with VC firms to avoid finding themselves on the losing end of a disadvantageous contract.

A VC deal can bring a lot more than just money to the table. This includes but not limited to mentoring, strategic advice, access to network resources, and external support. It is, therefore, important to take into account these factors while proceeding with business negotiations with VCs.

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Self-assurance: Take advantage of your leverage How much leverage does your startup have? Understanding the business leverage of your company will allow you to be more firm in your approach to VCs. One of the key variables in any negotiation is the attractiveness of your alternatives to the deal. When it comes to a VC deal, the more VC funds are interested in your startup, the more leverage you have. Use this leverage to put yourself in the best position when you are negotiating with your potential investor. If investors can see your conviction, they are more likely to have confidence in your startup.

Determination: Aim for higher valuations While financial markets are not in great shape right now, your startup can still achieve the planned growth. When VCs invest in a startup,

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Startup founders often care too much about the valuations, and they forget about how much autonomy they are going to lose in return

they expect to be onboard anywhere between 3-7 years before they make an exit. It is crucial to make them understand that even if your startup is not profitable at present, you can turn that around. Of course, negotiating with a group of seasoned investors can be quite intimidating for first-time entrepreneurs. However, if you can prove the investors how determined you are about reaching the financial targets, you have better chances at getting a high valuation, especially at a seed stage. Moreover, VCs become sceptical when you lower the valuations of your business as they expect startup founders to ask for better terms.

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Adaptability: Be flexible in your approach As mentioned earlier, there are multiple parameters to weigh in during the negotiation period. Focus on monetary valuations, but also consider what other benefits you can gain from a potential investor. Be it

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access to networking or mentors, think about the value a VC might add to your startup. If a VC is offering higher valuations but no other benefits, it may not be the right option for you. Startup founders often care too much about the valuations, and they forget about how much autonomy they are going to lose in return. This is why being flexible in your approach can help you in the longterm.

Receiving capital from VCs for the first time is a milestone in a startup founder’s journey. As long as you are careful while negotiating, VC funding can give you the stepping stone to take your business to new heights. Spend time analyzing the term sheet, hire an external advisor if required, and understand the legal obligations of entering into a VC contract. More importantly, remember that the devil is in the details. So, look at the fine print and make sure there is no scope for legal ambiguity. This way you can achieve both short-term gains and long-term growth without compromising on your control.

Want to find Investor for your Startup?

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CXO OUTLOOK July-August 2020

INSPIRING

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Doctor-turned Entrepreneur Disrupting Physician Marketing With Doceree Founded by Dr Harshit Jain, Doceree is the World’s Largest Programmatic Physician Engagement Platform.

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oronavirus outbreak has accelerated the adoption of digital in the healthcare sector.

Data suggests that the Pharmaceutical industry had been hesitant in opening up to digital mediums. However, post COVID-19, a new picture has emerged as traditional marketing investments got halted during this time.

Pharmaceutical brands are now waking up to the reality of digital and how platforms like Doceree can make their marketing efforts effective and efficient, and even help them cut costs.

The concept of Physician Marketing in the Indian Market is yet to pick pace, but this goes the same for the countries with developed markets like Europe and America, with the reason being merely the mental block due to regulations. “The thought of solving the problem digitally became exceedingly important to me after it became evident that the acute problem of the rising cost of healthcare could be addressed by bringing in efficiency and effectiveness in physician marketing with methodical use of data and creativity,” says Dr Harshit Jain, Founder, and CEO, Doceree.

Before Doceree, Dr Harshit spent a lot of time in India, where he worked as the country head of a renowned healthcare advertising brand. “During my stint in the UK and US, where I extensively crafted award-winning campaigns, I was exposed to varied markets that made me realize that Physician Marketing was lagging behind Consumer Marketing digitally,” he recalls.

On A Mission to Streamline Physician Marketing A Latin word, Docere, from which ‘doctor’ was also derived, the word means ‘to teach’. “Doctors were at the centre of our concept of providing an edge to Physician marketing, the word looked apt.

We just added an extra 'e' to it,” quips Dr Harshit.

Creating an integrated and collaborative ecosystem for pharmaceutical brands and digital platforms, Doceree is the world’s largest programmatic physician engagement platform. “Being the largest network of Physicianonly platforms for programmatic Physician marketing, we enable them to mutually benefit from

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Effectiveness and efficiency are what primarily differentiates us from our competitors

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A Physician who was always on a lookout to do things differently, Dr Harshit has been quite active before he ventured into the path of entrepreneurship

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untapped opportunities present in Physician marketing,” he says.

Coming from a family of doctors, Dr Harshit was always surrounded by them and aspired to become one as well. After becoming a doctor, he stopped practising medicine to explore the creative side of healthcare. "While growing up, I always tried to see positive in everything.

Even in criticism, I tend to look for some positivity to cross the barrier of criticism.

It helped me not get trapped in its vicious cycle. I follow the same till date,” he adds.

A Doctor Who Fell For Advertising A Physician who was always on a lookout to do things differently, Dr

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Harshit has been quite active before he ventured into the path of entrepreneurship.

Reminiscing the old days, Dr Harshit says, "I organized a 24-hour blood donation camp when I was in 1st year of medical school. I was also part of the team that developed Asia's first bone marrow donor registry. I wrote the 1st textbook on Liposuction in the country. Later I realized that if I continue to practice medicine, my brain neurons will atrophy. Just to preserve them, I made a move.”

Having never Dr Harshit Jain approached investors, nor made any calls, Dr Harshit received funding while narrating the idea of Doceree to potential partners. They joined the

team, as well as invested in it. "At this point, multiple venture capitalist (VC) groups are approaching us for investment. But we are certainly waiting for the right time for people from the industry to invest in our business in the next phase of our growth.”

The only company in the Physician Marketing industry having a global footprint with offices in the US and India, Doceree is the lone programmatic platform in the space, so essentially Doceree has competitors in the US. “Effectiveness and efficiency are what primarily differentiates us from our competitors. Unlike other companies in the US, Doceree has a razor-sharp focus on doctor-only platforms for pharmaceutical brands to market themselves. The underlying thought here is to ensure effectiveness. Our proprietary identityresolution tool - Espiyan - helps precision target Physicians, bringing in efficiency to Physician Marketing,” quips Dr Harshit.

Given the situation nowadays, Doceree is following more humane and approachable leadership techniques. “I think it is not about just taking business decisions or about achieving numbers or any goals, it is more about being empathetic in leadership,” he says. Having dreamt of building a company where people looked forward to coming to the office and enjoy their work, Dr Harshit says, "We have a no hierarchy structure, and people are encouraged to own their responsibilities without feeling loaded or burdened.

I try to be mindful of giving everyone the space they need. When it comes to working, people at Doceree are allowed to do things as they want to and come to me for support when needed. Only by doing so, I believe, they can achieve their true potential.”

Abiding by the words of one of his dearest mentors, Dr Devi Shetty, a renowned cardiac surgeon, Founder, and Chairman of Narayana Health, i.e., ‘No problem in the world is a big problem if you break it up into smaller pieces. The bigger problem gets solved eventually, once smaller problems are resolved’, Dr Harshit saw that these words worked in his favour, both in professional and personal life. “At work, we want to make Docreee a billion-dollar company which is the long term goal. It won't happen instantly, as there are multiple challenges that I call short term problems.

Fixing them one by one is the short term goal. By resolving issues around our tech, product, sales, publishers, and advertisers, among others, we are fixing the short term hurdles. This strategy will help

us inch towards our long term goal of becoming a billion-dollar global company,” opines Dr Harshit.

Ultimate Aim - Reducing Cost of Healthcare Doceree, as a business helps pharmaceuticals brands engage with its target audience – doctors – digitally. Adding value to B2B companies, Doceree is spreading its reach through word of mouth, our professional social network helped a great deal by pushing the right message to the right people.

"Doceree is all about digital. Surviving without digital would have been extremely challenging for us. Marketing does not happen anymore in just the traditional way of doing meetings in person.

The boundaries have expanded to digital which has grown at skyrocketing pace,” he says. Before the Pandemic Outbreak, Doceree hadn’t seen such faster conversions in the healthcare industry.

“In the last three months, we have signed with over 50 brands. Industry players realize the sheer importance of digital post the pandemic,” adds Dr Harshit.

To reduce the cost of healthcare, Doceree believes that by helping pharmaceutical brands break the digital barrier, and substantially cutting down their marketing investments. Believing in introducing effectiveness and efficiency, Doceree aspires to reduce that cost by about 10%, that would eventually reflect upon the drug pricing. Dr Harshit adds, "We want to become an ideal source of revenue generation for doctor-only digital platforms so that they do not have to worry about cash and sustaining themselves. We want the platforms to focus on the problems they intend to fix in healthcare and make an all-out effort towards achieving that rather than worrying about revenues,” opines Dr Harshit.

The 1st invoice Doceree received from their clients left an indelible mark, as it was a testimony to the fact that they were potentially solving the right problem and also that the world out there believes in this idea and vision. Advising aspiring entrepreneurs out there, he concludes, “Follow Your Dreams. It is the only advice I give others as I follow it myself. I quit my well-placed job to start Doceree. It is a difficult decision to make when you are in a leadership position, spoiled with all kinds of comforts. It wasn’t certainly easy for me to leave everything and start building everything from scratch. But when you are passionate about fulfilling your dreams, you are courageous to take that leap.”

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LEADER'S INSIGHTS

Car Rental Apps – How the Automobile Sector is Going Digital

Raghav Belavadi, Founder & CEO, Hype - Luxury Car Rental

Amongst the most exposed verticals to the ongoing COVID-19 outbreak is the automotive and

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transportation industry, which is currently amidst unprecedented uncertainty. “Car rental is deeply impacted in general because of the COVID19 crisis.

However, this has made people seriously think about low-cost rentals that could compromise on health and safety standards as they go easily unchecked,” says Raghav Belavadi, Founder and CEO of Hype, a luxury car rental app to help people live their dreams of enjoying a ride in the car of their dreams and experience luxury. In an email interaction with CXO Raghav Belavadi

Outlook, Raghav Belavadi talks about the impact of COVID-19 on the car rental market, significant trends in car rental apps, how are car rentals ensuring the hygiene and safety of their travellers, and many more.

How technology has evolved in the automobile sector?

Earlier technology was limited to just Automobile Mechanical Engineering. But, with time, an automobile has become a computer or a mobile phone in motion. With all the Hi-Tec gadgets, Apps nowadays,

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A VCMO helps startups and SMEs solve their biggest business challenges which are currently not just the pandemic but the consumer buying behaviour, which has changed drastically

113 the entire automobile is built around a mobile phone. This requires futurising vision, dedicated R&D and competitive spirit. "Innovate or Perish" is totally applicable to the automobile sector. Your car is not more just a car but a mobile computer, a safety grid, and a home for the most part of your lifestyle.

Could you give us an overview of car rental industry amid the COVID19 Pandemic?

Car rental is deeply impacted in general because of the COVID19 crisis.

However, this has made people seriously think about low-cost rentals that could compromise on health and safety standards as they go easily unchecked. It has also created ample opportunities for the premium car rental market. People are going to be wary and selective choosing the brands for their rental rather than a runoff the mill providers.

What are the significant trends in car rental apps these days?

Car rental apps emerge like mushrooms every now and then. Aggregators, super aggregators are always on the constant acquisition mode to engage and target the customers. Customers are usually unaware of the apps they use. They may be risking their data to an unknown or a loosely assembled App. Especially on Google Playstore, the risks are higher.

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About

Raghav Belavadi and Hype Luxury Car Rental Raghav Belavadi is a graduate in Mechanical Engineering and a serial entrepreneur. After saying Goodbye to his leadership roles in global corporates such as Accenture and others, he decided to pursue his entrepreneurial dreams. Hype - Luxury Car Rental does find its clientele amongst movie stars and big businessmen but is not limited to just the richer strata of the society. Many of its customers include the average salaried who get their dreams of driving luxury cars fulfilled at affordable prices. It is a game-changer in the market where luxury cars are not easy to rent, especially for the choosy ones who want the perfect ride.

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How are car rentals ensuring the hygiene and safety of their travellers?

The Mass mobility sector may be trying hard to adapt to a totally new challenge of hygiene and safety standards. This is not surprising as they never built that business model around an experiential or a high-quality ride.

Sanitising the cars regularly, separating the driver and passenger sections in the vehicle, providing masks and sanitisers and so on are the usual practices that are coming up.

What are the techniques used to achieve the effectiveness of car rental apps?

Car rental apps usually work in Silos and may not be able to track the driver or the passenger travel history. If the travel history can be gathered using location tracking devices or Apps and integrating with the rider apps, it may be useful to ascertain who has travelled where and categorise them as high risk or low-risk passengers.

How has the lockdown affected the Automobile industry?

The automobile industry is affected just like any other businesses. It hit harder because the entire mobility of people is restricted. The hunch is that people may buy more cars or rent premium cars than choosing mass transportation in the coming days.

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MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

Pooja Sahgal, Marketing Head, Kaya Limited

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Interfacing Passionate Practitioners and Committed Customers

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rom beauty practices rooted in Ayurveda to those championing the ‘organic is the way forward’ rhetoric, the Indian cosmetics, and cosmeceutical market has been continuously evolving. However, when the country went into lockdown to curb the spread of the COVID-19 pandemic, beauty and wellness industry did suffer a profound impact. Though many players of different sizes in the market had to be inactive for a long time, professionals at the Kaya Clinic were a busy bunch of people. Kaya Clinic conducted a series for campaigns including free video consultation for those facing skin, hair and stress-related problems that cannot be put off until after the lockdown. At the helm of these activities was Pooja Sahgal, Marketing Head of Kaya Limited. “We did many activities during this lockdown time. We started free online consultations for all our members, conducted wellness weeks where we tied up with exercise classes, nutrition classes, face yoga and many more. We also did a digital series on video where our Dermatologists give advice on taking care of different types of skin and hair concerns,” explains Pooja.

CXO OUTLOOK July-August 2020

Started in 2003 to deliver flawless skin to both men and women, Kaya has now expanded with a range of clinics across India and the Middle East. The services that one can redeem at Kaya Clinic include a range from personalized skincare and hair care consultation to unique customized solutions. For all skin and hair care needs “The Indian beauty industry today is even more sought after than the global counterparts. Consumers are looking for authentic, expert products and services which deliver customized solutions for diverse Indian skin tones. Kaya is the only player in the industry that offers customized services and products which are dermatologically developed to deliver strong results for all types of Indian skin and hair,” shares Pooja.

With the acceleration of the brand in e-commerce channel strengthening their product portfolio, . Kaya took a two pronged approach . We accelerated the brand in the Ecommerce channels with strong focus on products.

Further Kaya launched a vigorous campaign that assured consumers about how stiff and stringent their safety measures are when it comes to expert beauty. “We did a

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Pooja Sahgal

At Kaya, I usually have 5 balls thrown at me at any time. I have learned to step back and prioritize.

- Pooja Sahgal

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Pooja Sahgal

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Working in an industry that is always hectic and fastpaced, Pooja has been able to keep her calm and handle any obstacles and pressures that came her way

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Pooja Sahgal

360-degree campaign across digital, POS, and influencers.

This has resulted in the service business slowly but surely gaining stability,” quips Pooja. During the pandemic, Kaya did a very effective campaign on safety, which further strengthened the superiority of Kaya in the beauty and wellness industry. Pooja adds, “We also strongly communicated on our Laser hair category by establishing superiority over solutions like parlours and shaving. This has led to strong recruitment in the category.”

A Marketer with Knack for Business Before joining Kaya Limited in 2019, Pooja had a stint with Marico, where she gained a strong business understanding and drive for result-oriented behaviour. Between 2008 and 2019, Pooja worked with some interactional brands including Kellog and L’Oreal. “At my Loreal stint, I learnt a lot of best practices both in terms of product, digital marketing and channel marketing, which I can apply at the brands of Kaya now,” says Pooja. Trusting her people more, Pooja has been a leader who understood what challenges her employees are going through at this time. “I think everyone in the marketing team and the company at large have embraced today’s challenge and we put in 200% effort during this period,” quips Pooja.

A fitness enthusiast with love for sports, Pooja comes from a business family. Enjoying the eccentricities and challenges one faces in business, she has honed her instincts and understanding of drivers of business success.

Working in an industry that is always hectic and fastpaced, Pooja has been able to keep her calm and handle

any obstacles and pressures that came her way. She adds, “At Kaya work is very dynamic and , I usually need to deal with multiple objectives and stakeholder at any time. s. I have learned to step back and prioritize. While keeping the consumer needs at the heart of every decision Also, I have a solid marketing team who do a great job in their sphere and ensure they execute to excellence.”

Firmly believing in not breaking what is working, Pooja has continued to focus on the key categories at Kaya services along with building the brand, differentiating Kaya from other dermatology chains. Accelerating the product journey with e-commerce as the go-to destination, Pooja has also focused a lot more on the ‘digital-first approach’ and explored all aspects of digital marketing, including videos, OTT, and increased their social and search presence. Drawing inspiration from Winston Churchill , Roger Federer, and Katherine Graham, Pooja feels that the leadership team she previously worked in at Kellogg's has also been a strong influence for her. “They imbibed in me the right values of collaboration, embracing openness, diversity and drive for results”, adds Pooja.

Today, pinned across 26 cities with a total of + 74 clinics across India and 23 in the Middle East,. With a strong presence, Kaya Clinic is India’s largest pool of expert dermatologists in the country with over +120. “We are looking to make the brand more accessible through our strong product and customised services portfolio and drive relevance with the millennials by engaging them in a tone of voice and execution-style that engages and inspires them,” concludes Pooja.

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EXPERT OPINION

Financial Inclusion for the Unbanked: Measures Taken by Lending Players Bala Parthasarathy, Co-founder & CEO, MoneyTap

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Bala has donned many hats in his career.

From being a serial entrepreneur to a venture capitalist – he has done it all! With his endless reservoir of energy and passion to ideate, strategise and execute, Bala has over 16 years of experience in the world of startups.

Bala Parthasarathy

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ne-fifth of the world's population is unbanked. Till a few years ago, it was not financially viable to provide them with financial assistance as they did not meet the basic threshold for financial organisations and KYC (Know Your Customer). But new-age tech and data innovations, the rise of smartphones and the reach of cheap internet availability have changed the scenario for the unbanked in India.

CXO OUTLOOK July-August 2020

The biggest challenge with the unbanked, informal or NTC (New To Credit) sector is in the KYC process

According to CIBIL data, out of India’s 220 million credit-eligible consumers, only 72 million have a credit score (CIBIL score). A significant portion of those without CIBIL scores comes from the unbanked (190 million) or minimally banked (a whopping 356 million accounts) of the rural population.

Compare those numbers with the data shared in EY’s FinTech Adoption Index - it indicated that 52% of the digitally active India are Fintech users. There has never been a better time for banks and NBFCs to seek revenue growth through financial inclusion.

The biggest challenge with the unbanked, informal or NTC (New To Credit) sector is in the KYC process. The BFSI sector makes KYC as a vital tool for decision-making and a key strategy for acquiring customers.

To resolve the issue of inclusion and provide smooth & affordable financial services to the underbanked, the NBFCs have now started playing a key role. According to the RBI, there are 11,522 NBFCs, most of whom are offering credit options in partnership with banks to serve the unbanked/NTC sector. NBFCs are moving the needle beyond traditional ‘credit-scored’ consumer finance.

What are the measures being taken by NBFCs and banks to serve the unbanked?

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1. Using alternative data instead of conventional scorecards Alternative consumer data has been the gamechanger. Even in the absence of credit histories, Fintech companies are working with external

CXO OUTLOOK July-August 2020

More about

data sets (utility bill payments), mobile-based data (usage insights) and income sources to determine creditworthiness and repayment risk factors about existing and future customers from the NTC and the unbanked sector.

Bala Parthasarathy Bala was one of the co-founders of Angelprime (now Prime Venture Partners), a seed-stage fund based in Bangalore. From 2011 - 2016 he was deeply involved in companies such as ZipDial (acquired by Twitter), Ezetap, SmartOwner,

Vidgyor,

Happay,

HackerEarth,

Synup,

Healthify.me, Quizziz and more. Bala has built three companies, one of them being Snapfish, bought by Hewlett Packard in 2005. As General Manager and MD for Snapfish

2. Access to swift loans and ease of application Most financial institutions are providing credit to the unbanked population via smartphone apps. Consumers can apply for a credit line/ personal loans with a few taps on their phone - online KYC and minimal documentation make the process quick and hassle-free. Speed, convenience and security work in favour of banks and NBFCs lending via smartphone apps.

International, he led its growth into becoming the world's largest online photo site with 100M+ users, and expansion into 20+ countries in Europe and the Asia Pacific.

In his early days, he was a co-founder of iSelect and then Wyatt River Software that was acquired by SafeNet and started his career as one of the early engineers who

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built Digital Link, which went public in 1993. He has also worked with Mr Nandan Nilekani, Chairman, UIDAI, and played a key role in defining the application strategy and developer ecosystem on Aadhaar from 2010- 2011.

His insatiable appetite to see the world has taken him on personal adventures across 80 countries in the world and driven him to acquire fluent spoken Spanish and French and a surprisingly effective grasp of German, Portuguese and Italian. He has climbed the Kilimanjaro, trekked the Andes, Alps and the Himalayas, motor-biked across the African continent, up the highest motor able road in the world at Leh, ridden boats, camels and ramshackle trains - in the quest for experiencing those indescribable moments which have made him what he is. He shares his love for the world and adventure with his wife, Dana and their three kids.

In 2006, he was recognised by the University of California, Santa Cruz with its highest honour for alumni as a "Distinguished Alumnus". He obtained his bachelor's degree from Indian Institute of Technology, Madras.

CXO OUTLOOK July-August 2020

3. Reaching far-flung areas through smartphones Beyond credit eligibility, these holistic consumer insights help the BFSI sector to offer an array of customised products and awareness programs to bring the unbanked into the fold of structured finance and lending. Future-focused banks and fintech startups are getting a 360-degree view into the prospective financial needs of existing and future customers and lending to potential customers based in Tier 3 or Tier4 cities. A smartphone and stable internet are all that their customers need to access credit.

4. Small/flexible ticket sizes Joint lending by banks and non-banking financial companies has been a boon for consumer lending - customers are now able to get credit facilities at much cheaper rates. The shared risk between the lenders as well as the integration of technology and operations is helping the fintechs reach and serve customers in a better way than the conventional lending method by allowing them to provide flexible, small-ticket loans at affordable interest rates.

With access to mobile banking and smart tech, alternative data is poised to transform lending to the unbanked sector. The BFSI space is only scratching the surface of customercentricity and stronger financial inclusion models with all the data sets that are now available to them.

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INSPIRING

IDEAS

P 124

How is Kredent InfoEdge Simplifying Finance for All Kredent InfoEdge is a niche player concentrating on the finance sector, which intends to meet lifetime needs of learning finance, tracking financial markets, earning and managing money.

oor financial education is a major problem in society and Kredent InfoEdge was the earlier ones to realize this. “Since 2008, We have been focused on training retail investors on various aspects of financial management. The offline centre through various modules has trained over 10,000 participants till date,” says Vivek Bajaj, Co-Founder, Kredent InfoEdge. Seed Capital for Kredent InfoEdge was invested by a financial service firm based out of Kolkata. Later a pre-series A was concluded in 2018 by with investments from market stewards like Shri Ramesh Damani, Shri Ajay Sharma and Shri Dinesh Agarwal, owner of indiamart.com. Currently, the business is in the investment stage.

In 2014, the company launched its online financial learning venture Elearnmarkets.com for the purpose of taking financial education to all over the country. As on date, there are over 150,000 learners from over 200 cities in India taking over 100 finance learning modules, some certified by NSE Academy, MCX, NCDEX and many more.

As part of providing full financial freedom to retail investors and helping them to become less dependent on intermediaries, we are also developing tools which would help everyone to become a doit-yourself market participant. One of the tools launched in May 2016 is StockEdge App,” shares Vineet Patawari, Co-Founder, Kredent InfoEdge.

As on date, the StockEdge App has over 1M downloads with an active user base of 200,000 and rating of 4.6, highest rated finance app in this category in India. “StockEdge is a freemium app with almost 1B data point in its database and has recently introduced a premium plan with valueadded features like a thematic watchlist, portfolio of ACE investors and ready strategies,” adds Vinay Pagaria. Kredent InfoEdge has also launched the StockEdge Club, a community of stock market investors to focus on learning and networking.

What Makes Kredent InfoEdge Different?

Kredent InfoEdge is a niche player concentrating on the finance sector, which intends to meet

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Co-Founder of Kredent InfoEdge: Vinay Pagaria, Vineet Patawari, and Vivek Bajaj

We work with a single objective of Simplifying Finance for All

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Vineet Patawari

Vivek Bajaj

126 lifetime needs of learning finance, tracking financial markets, earning and managing money. Vivek Bajaj claims, “No other existing platform combines all the requirements of a learner & practitioner of finance in such a compact and simple manner. We work with a single objective of Simplifying Finance for All.” The industry is fragmented with various people doing various work independently. “We are trying to work on an integrated model with the right knowledge as the core requirement of the user. For example, the financial market training industry is very Vinay Pagaria fragmented having various individual trainers,” pinpoints Vineet Patawari.

Elearnmarkets is a platform which brings together learners and subject matter expert related to finance. Similarly, StockEdge gives investors and traders access to refined data of 6000+ companies. It also provides readymade scans, watchlists, portfolio of ace investors and much more.

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“In the first few years, our focus was more oriented towards social responsibility. However, since 2014, there was a shift in vision as well as orientation as adapted technology to reach to a larger audience with cutting edge products,” shares Vinay Pagaria. In FY 2018-19, Kredent InfoEdge generated revenue of Rs.5.5 crore.

“Our current revenue comes from offering online financial training through Elearnmarkets and subscription of data analytics services through our StockEdge App. We are also developing further tools which will add transaction revenue in future,” adds Vivek Bajaj.

Target Audience and Potential Growth In India, around 3.5 crores students are pursuing graduation and above qualifications. “Our target audience is first-timers in financial management. The first-timers could be youngsters, job seekers, young earners as well as the retiree population of India. Anyone interested in getting into formal financial instruments is our best TG as they need proper knowledge and mentorship which is currently grossly lacking in the industry,” explains Vineet Patawari. Kredent InfoEdge believes that their integrated solutions will help individuals to become independent in their decision making.

On the other hand, there are 75 crore unique bank account holders in India. Out of which only 2 crores are invested in mutual fund and less than 1 crore invests in the direct equity market. Only 1.5 per cent of India’s population is investing in non-banking financial products.

“This is leading to poor wealth creation and distribution.

The core reason behind such a lag is poor financial literacy, lack of access to data and biased analytics from various intermediaries. We believe we can become a major catalyst to the change and help better financial inclusion in India,” states Vinay Pagaria. At present, Kredent InfoEdge has 100+ employee and has over 500,000 registered userbases combining all products.

In India, everyone is an expert, especially when it comes to managing money. The general perception is that people are ready to lose money by taking wrong decisions and not invest in own learning and development. This mindset is gradually changing as traditional methods of financial management is also evolving. “Young population, especially the millennials are changing the business landscape across industries.

We believe that due to our thrust on knowledge, we will be a major beneficiary in the ecosystem,” concludes Vivek Bajaj.

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EXPERT OPINION

Maintain Your Mental Wellbeing While COVID-19 Outbreak

Dr Samir Dwivedi, Medical Director, International SOS Dr Samir Dwivedi heads the Medical

Assistance and Medical Services platform in India

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and is responsible for delivering quality services to International SOS members within India, Nepal and Bhutan. He is based out of New Delhi and has a team of doctors strategically located in Delhi, Mumbai and Bangalore, providing medical assistance to International SOS members. Dr Samir has executed several successful medical transport missions including air ambulance transfers, both within the country and abroad.

Dr Samir Dwivedi

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hen the novel Covid-19 hit the world, few were prepared for the social impact of it. What started as a virus in the city of Wuhan in China quickly moved across countries, increasing the number of infected and rise in the number of deaths, affecting all the continents but Antarctica. As many countries moved from cancelling inbound and outbound flights, the situation soon escalated to closing borders and promoting 'social distancing' in communities. In times like this, people hold on to their television sets and phones with bated breath, waiting to hear almost anything from anyone about the uncertainty of the situation.

This is a fertile ground for fake news and fear-mongering, which pander to the imagination of the gullible audience. These often find their way

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What is common between the infected and the uninfected of this novel strain of Coronavirus is the effect it has on our mental and emotional wellbeing

onto the mainstream media, making it increasingly difficult to differentiate, truth from the false.

While all of us are focusing on the symptoms of Covid-19, the treatment options and timelines for the development of a vaccine is yet to be seen, mental health is one aspect of this pandemic that the World Health Organization is discussing earnestly in these trying times.

What is common between the infected and the uninfected of this novel strain of Coronavirus is the effect it has on our mental and emotional wellbeing. Starting with the healthcare system and those working on the frontlines, managing this pandemic directly or indirectly, the amount of stress to meet demand and maintain personal health is overwhelming.

Healthcare professionals in countries that have a high number of cases are already strained and working round the clock. The fear of getting infected looms large on healthcare workers who are in close contact with Covid-19 cases and suspects, resulting in worry, anxiety and stress, while they continue to care for the sick.

The situation is evolving by the hour with governments issuing notifications, regulations and advisories just about every day. It is increasingly difficult for people who are struggling to understand the situation, to find credible sources to interpret government policies. Since these changes are imposed on a real-time basis, there is a lot of stress in attempting to keep up with the latest advisories and rules.

As a result, you will probably have a heightened awareness of the outbreak and the risks that you may be exposed to during your travels. This is likely to be causing you to feel concerned and fearful. Here are a few evidence-based practical suggestions that will help you alleviate stress during the crisis.

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CXO OUTLOOK July-August 2020

More about

Dr. Samir Dwivedi Dr Samir is responsible for managing and supporting the remote site and corporate clinics, managed by International SOS within India. He is responsible for the clinical governance of 35 clinics that he oversees across India, to ensure that the quality of clinical care improves continuously and that International SOS high standards are safeguarded in the clinical management of patients.

Dr Samir is a Family Physician by speciality and has worked in reputed multi-speciality hospitals in New Delhi.

He has an experience of over 24 years in the medical field, 14 of which have been with International SOS. He is also a keen educationist and takes a great deal of interest in delivering health talks and conducting training, both within the organisation and to International SOS corporate clients.

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• Ensure that your information comes from authentic and credible sources • Take good care of yourself. Your mind is not an inexhaustible machine. Take time to relax and free your mind of negative thoughts.

• While the situation at large is not in your control, what you can essentially control is your reaction to what is happening around you.

• Focus on what you can do and what you can’t. Work towards what you can do to contribute towards preventing the spread of the virus, and not close your eyes and wishing that it will all go away.

• If you or someone in your family has symptoms, contact a doctor early on, and save yourself from the stress – it may just be seasonal flu.

• Sleep eight, feel great – an average person requires about 8 hours of sleep. Don’t

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lose it over something that has not happened.

Practice sleep hygiene.

• Worry is an adaptive function which we have evolved over time to help us deal with our problems and find solutions. It is in the power of each one of us to keep it at bay and not affect us in a negative way.

If you are finding that you are feeling overwhelmed by your fears and are struggling to control them; it is likely that this is affecting both your home and work life; and that you would benefit from some professional support. Rather than trying to deal with this alone, seek the support of a healthcare professional either within your organisation or externally. Try to consider the impact that the Coronavirus is having on others all over the world; and how your actions can keep both you and others, safe and well.

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CXO OUTLOOK July-August 2020

MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

Priyaranjan Kumar, Chief Operating Officer, Iconic Fashion India

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An Iconic Salesman by Choice

C

ompleting his schooling from St. Peter’s College, Agra, Priyaranjan Kumar did his engineering from JSSATE, Bangalore, post which he completed his MBA from XIM Bhubaneshwar. Considering himself to be an ‘Aam’ student, he would score just above the 50th percentile, knowing what to study to pass the exams. He was always interested in learning life skills, where he would rank himself at the 95th percentile.

“The most valuable lesson I learned was there is always a solution. Our situation is like the flow of water. The beauty of water is you can’t stop it, it will always find a way out. The second lesson I learned was about objective competition. In a quest to beat others, one should not lose the focus on winning the championship", reminisces Priyaranjan, Chief Operating Officer, Iconic Fashion India.

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An engineer by education and a salesman by choice, Priyaranjan has consciously tried to build a multi-sector, multi-geography, multi-culture fungible work profile.

“Starting my career with selling Aluminum Roofing Sheets, I have been associated with diverse product categories like OTC Medicines, Alcoholic Beverages, Chocolates, Personal Care, and Apparel across India, from Mumbai to Delhi, then Bangalore to Kolkata, and now Gurgaon”, says Priyaranjan.

Believing that the difference between a good driver and a great driver is his ability to control the old, new, fast or slow vehicle and manoeuvre smooth, hilly or broken terrain, Priyaranjan joined Iconic Fashion to get the thrill associated with driving a different vehicle on an entirely new and rocky road. "My past experiences have given me the confidence to overcome any situation or challenge. The only reason for my success in

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Priyaranjan Kumar

My past experiences have given me the confidence to overcome any situation or challenge -Priyaranjan Kumar

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Organized Mumbai to hinterland Haryana to linguistically different South India to the culturally different East India has been Common Sense, Simplicity, Speed, Scalability, and Sustainability", opines Priyaranjan.

Having had close to 14 Line Managers, Priyaranjan has consciously tried to identify at least one aspect of each of their personality, which he would omit from himself. “For example, there was a person who was extremely passionate but indecisive. So, I built on my decision-

making skills. Thus, all of them have been an influence, the only thing I have retained is my core personality and strengthened it by removing the qualities which I identified were the weak points in them�, adds Priyaranjan.

Managing the COVID Crisis Completely taken aback by the Pandemic, the first couple of weeks went in a daze, after which Iconic Fashion India started to come to grips with the challenge at hand

Taking the 5-minute decision rule and no parking & procrastination principle seriously, Priyaranjan maintains an excellent work-life balance

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Priyaranjan Kumar

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considering that the revenue would be next to nothing with fixed costs mounting every month. To cope with the hard times without hindering the business, Priyaranjan came up with 4 things that had to be tackled on priority. "First thing we did was to recognize it will be a long haul, and thus the planning had to be for April 2021. The second was to take a long, hard and objective look at the Stores P&L and consequently close ‘no hope’ stores. The third was to attempt to convert the model from an 80% fixed cost to a variable cost model to prepare for only 50% recovery in sales for the year. The fourth was to quickly come up with alternate channels of customer sales and service which included E-Commerce and V Commerce where V stands for Video”, says Priyaranjan. Having done almost a good job of reacting to the Pandemic Lockdown, Iconic Fashion India did experience some collateral damage. Still, they plan to get back on track as soon as the market recovers.

Following a combination of Inspiration, Patience, and Sanity in approaching his subordinates, Priyaranjan advised his team to prepare for the worst and expect the best out of the situation. He quips, “I kept the inspiration momentum going by sharing my vulnerability with the team and be completely transparent about the discussions happening at the leadership level. It was important to make everyone understand that this is a temporary situation and would resolve; thus, it required patience as no one knows the time of resolution. It's best not to cycle in a cyclone".

Following the mantra, “the Voice of Customer is the Voice of God”, Priyaranjan has simply listened to that voice and designed all plans based on what the customers want. Trying to change the approach from inside-out thinking to outside-in, he says, "We are progressing to Net Promoter Score, Buyer Non-Buyer Feedback, One of its kind Loyalty program, WhatsApp Engagements, Home and Video Shopping, and streamlining Internal systems & processes to support this".

Taking the 5-minute decision rule and no parking & procrastination principle seriously, Priyaranjan maintains an excellent work-life balance. "I keep meetings to a minimum, and negligible PowerPoint presentation, which I believe is a productivity destroyer. I try to work under my locus of control, and I’m paranoid about solutions, as I believe, if there is a situation, there has to be a solution”, opines Priyaranjan.

Climbing the Ladder of Growth With a career spanning for 15 years now, Priyaranjan has achieved many milestones, but the ones he truly values are the ones that have made a significant value addition for the people and business. He adds, "The first one is the closest to my heart because I have been instrumental in

changing the lives of quite a few of my team members.

I have seen how they have grown from Channel Partner Executive to Senior Managers and Fashion Assistants to Store Managers. The second one is safeguarding the citadel of Pantaloons, which was the East Zone from the marauding competition. We reached customers before the competition could, thus protecting market share and consumer loyalty”.

Priyaranjan feels if you are not failing, you are not trying enough. Though there have been mistakes, thankfully no disasters. There have been many tactical mistakes in appointing channel partners, team members to running incorrect promotions and Capex, which were easy to correct as a result was immediate. "The real learnings came from the strategic ones, which happened early in a career like following a herd mentality, not saying no to what I believed was wrong, and not reacting at the right time. These taught me hugely valuable lessons of following one's mind and hunch, standing up for what one thinks is right and acting at the opportune moment", quips Priyaranjan.

Going Ahead The Indian Fashion Industry had been operating at Season minus 4 vis a vis Milan, Paris, and New York about a decade back. The last 5 years have seen a dramatic shift in this as more and more Indians have become global citizens, and disposable incomes have been increasing exponentially. The rapid technology scale-up in India built on the mobile data platforms has made fashion completely democratic, thus cutting down all the season differences between Paris, Milan, New York, and Mumbai. Today Indian consumer is more demanding on value, and cutting-edge fashion as any in the world, and Millions of Indians are changing the positioning scenario from supply-led to demand-led.

Having initiatives in the pipeline which will enable the Indian consumer to get the experience of Nordstrom sitting in Bhopal, Priyaranjan aspires to lead this change through Iconic Fashion India, by offering the choicest of International labels and designers to wear for their fastevolving needs. Having made plans till April 2021, Iconic looks forward to going on an overdrive to strengthen customer engagement by introducing newer international labels and designer wear, innovative demand generation techniques, and never before done loyalty program.

“Once we have solidified our base, we will aggressively expand our distribution reaching new towns. There are 80 cities in India where there is a functional airport, which are our prospective store locations. The plan is simple; Survive, Revive and Thrive”, concludes Priyaranjan.

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EXPERT OPINION

How Magnetic Filtration with UV-C Play a Key Role in Eliminating Microbes to Help Prevent the Spread of COVID-19

Himanshu Agarwal, Founder & CEO, Magneto CleanTech Himanshu Agarwal is widely recognized as a

pioneer in the HVAC and IAQ industries. Formerly

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an Office Bearer for ISHRAE, currently, he is an active member of ASHRAE, IAQA and serves on the technical board for IGBC. As a critical proponent for indoor air quality and its massive impact on any nation's younger population, he has been a frequent guest speaker at several IAQ forums hosted by ISHRAE, CII and many other industry bodies.

Himanshu Agarwal

T

he rising cases of novel coronavirus (COVID-19) remain a significant area of concern for India, a country with a population of over 1.3 billion. While the government has now started reopening economic activities in most parts of India, authorities are scrambling to find ways to curb the virus's spread. Business organizations, too, are adopting a host of safety measures to safeguard both their employees and customers from the deadly contagion. However, these safety measures may not

CXO OUTLOOK July-August 2020

India is still unfamiliar with the idea of using magnetic filtration with UV-C for air sanitization

necessarily address the risk of transmission indoors.

As established by a growing body of evidence, the likelihood of catching COVID-19 is higher in enclosed spaces. In fact, a study conducted by Chinese researchers earlier this year found that the infection risk is 4 times higher indoors than it is in open places.

According to another research paper from Japan, the chance of transmitting coronavirus in a closed environment is 18.7 times greater when compared to outdoors. Moreover, the virus travels faster and longer distances through air droplets in confined airconditioned space. Sanitization of indoor air, therefore, is critical to eliminate microbes including airborne viruses, bacteria, PM 2.5 particles, pathogens, and other toxic gases which can pose serious health hazards.

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Indoor air sanitization with magnetism and UV-C lights Sanitization of air is not as simple as air purification. It requires a robust technology-based mechanism that combines the power of magnetic filtration with UV-C lights to destroy any harmful microorganisms and pollutants in the air. As per the guidelines released by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) and EUROVENT, the use of high-efficiency air filtration technologies and UV-C lights can provide protection against the novel coronavirus.

Many international bodies are also recommending the use of UVGI (Ultraviolet germicidal irradiation) disinfection method to mitigate the risk of airborne transmission of COVID-19. While it has not been directly

CXO OUTLOOK July-August 2020

tested on coronavirus yet, it has been proven effective against other bacteria and viruses and can show similar results for SARS-CoV-2 family of viruses.

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Many international bodies are recommending the use of UVGI (Ultraviolet germicidal irradiation) disinfection method to mitigate the risk of airborne transmission of COVID-19.

CXO OUTLOOK July-August 2020

How do these technologies work?

Air filtration systems equipped with magnetism and UV-C can trap airborne viruses of even 0.1 microns (which is the size range of the SARSCoV-2 virus) at the magnetic stage through electron beaming. The DNA/RNA of the virus is ruptured and furthermore destroyed with photonic energy of the UVGI system, and then the air is sanitized and released into space. The UVGI technology incorporated in the system also disinfects the air by emitting UV-C rays at a wavelength of 253.7 nm (UV-C band).

These rays kill bacteria, viruses, and fungi by destroying nucleic acids and disrupting the DNA of microorganisms, thereby rendering them unable to perform any vital cellular functions such as reproducing.

Application in India India is still unfamiliar with the idea of using magnetic filtration with UV-C for air sanitization.

Still, companies like Magneto CleanTech are now harnessing the power of these technologies and coming up innovative products to sanitize indoor air and protect people from the coronavirus. Air sanitization systems with magnetic filtration with UV-C can also improve the overall quality of indoor air and are safe to use as they are installed into the central AC system.

While the concept and application are new to India, implementing them will not only help in mitigating the risk of transmission but also help improve overall indoor air quality in the country.

Improving indoor air quality in the country is imperative since indoor air can be up to 5 times more polluted than the air outdoors with microbes and gases from aerosols, cooking oil, dust, and other particles. Effective and efficient implementation of such air sanitization systems infused with UV-C technology will make the air more breathable and curb the risk of airborne diseases, making the air purer and healthier.

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Providing Custom-made Employee Perks under One Roof!

Co-founded by Sourabh Deorah and Smiti Bhatt Deorah, Advantage Club is one of the largest employee engagement platforms in India.

CXO OUTLOOK July-August 2020

igital is the future of HR, and the current pandemic has proven the importance of moving everything online even more. 2020 will be the year of digital innovations not just in HR, but probably in almost every sector. Going ahead, the focus will move from in-office employee engagement to remote-engagement modules. The focus on wellness will also increase in general, because of the importance of employees staying healthy and hence more productive. Also, the world is moving toward convenience and marketplaces.

The ease of having all your benefits in one platform is going to be the future and companies which adapt to that will be futuristically successful.

With the entire country in a work from home scenario, it has become harder for organizations to engage with their employees remotely. Advantage Club has been helping companies execute digital awards, recognize employees, run surveys through Advantage Club’s rewards and recognition program. Through their perks module, Advantage Club has over 10,000+ brand partners, who are providing employee offers and safely delivering products/services while employees are sitting at home. Employees can order essentials through their partners and avail benefits as well. Specializing in physical and mental wellness partners, Advantage Club has been curating programs to remove the frustration associated with being hoked up inside the house. “We have also created hobby clubs, which are communities for like-minded individuals to interact digitally with each other.

Companies can also host online events through our community features. Not only that, but our movie/ series recommendation feature also lets employees recommend and find interesting content suggested by colleagues to watch at home”, quips Sourabh Deorah, Co-founder & CEO, Advantage Club.

Along with this, Advantage Club also has an integrated online doctor consultation on the platform, where employees can get free COVID Consultation by expert doctors. “We also have features like quarantine score to educate employees on how to quarantine better through an interactive quiz. Our symptom tracker can also help employees identify if their

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We have 10,000+ brand partners providing offers to employees of 250+ organizations, curating the largest employee-marketplace in the country today

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142 sickness symptoms are COVID related or not. Our partners also provide offers on masks, sanitizers, shields, and medicine deliveries”, adds Sourabh.

One-stop Shop for Corporate Perks India's largest end-to-end employee benefits, rewards and recognition provider, Advantage Club offers features like an employee discount program, a rewards execution program, and community features like Hobby Clubs, Classifieds. It is uniquely positioned in the country today to cover all aspects of employee engagement under one platform, with all modules in the program customizable according to the corporate's needs. "We have 10,000+ brand partners providing offers to employees of 250+ organizations, curating the largest employee-marketplace in the country today. We also have unique smart features like personalization basis usage, location-based app notifications, and trending-in-your-corporate. Our customer care is also world-class with both phone and email options available for employees to utilize their benefits”, adds Sourabh.

CXO OUTLOOK July-August 2020

Smiti Bhatt Deorah, COO & Co-founder

Previously working with Microsoft in the US, Sourabh along with Smiti, Co-founder of Advantage Club, would get a lot of benefits wherever they spent, courtesy to their Microsoft Benefits Card. Be it dining, shopping, travel, or even renting an apartment, they used to get better perks. “As Microsoft employees, we used to love all the benefits, and the program was decently popular there. We later realized that Microsoft didn't get these benefits on their own, there was a third-party benefits provider in the US who used to provide perks to companies like Microsoft, Oracle, etc. We also found out that such a program didn’t exist in India”, opines Sourabh.

Obstacles and challenges in the business will always be present. Being a successful entrepreneur requires preparedness for any expected or unexpected occasion and making correct decisions every time. One of the initial challenges Advantage Club faced while starting the venture was building a two-sided marketplace, of both brands and corporations. "If you do not have good brands, you will not get good corporate partners and vice versa.

To solve the issue, we applied the strategy of approaching brand partners first at no cost. Once we built the brand marketplace of some partners, we started approaching corporations. Keeping brand partners engaged at that time was also a challenge because we didn't have corporates to consume the vouchers", recalls Sourabh. By continually sending communications and company updates to keep them patient, till they went live, Advantage Club is now pioneering in the country to start such a concept.

After getting feedback from a couple of corporate HRs in India, Sourabh and Smiti realized that there was no company managing these sort of benefits in India. With the thought process that since Indian employees work equally hard (if not harder) as compared to other countries, the benefits should also be parallel to other geographies around the world, they came back to India to start Advantage Club.

Advantage Club believes that preserving a good and strong company culture is predominant to any organization’s success. Having an open-door policy, Transparency is one of the things which is rooted core in Advantage Club's cultural values. "We have been lucky and blessed to get a wonderful team ever since the beginning. We believe in staying nimble, and amazingly our team has always delivered within timelines and with great efficiency. Our team includes alumni of good colleges and people with very relevant industry experience", says Sourabh.

An Engineer with a Knack for Startups An Engineer with a Post Graduate Degree from UCLA, Sourabh comes from a business family, which intrigued him about business and technology. He recalls, “I started coding when I was 12 years old, and very early on started helping my father with some parts of his business. As I grew older, he pushed me away from the business to focus on my studies. But the entrepreneurship bug was always there”. Sourabh started his first venture, Fundoori, where they built hyperlocal deals and social platform for Patiala, mostly aiming towards students from his college, Thapar University. The startup made decent money and was unfortunately shut down as Sourabh was done with his bachelors and moved out of India to pursue his Master's Degree. “Fundoori set the tone for what I wanted to do in my life. When I went to UCLA, I participated in a lot of hackathons. Smiti and I were also very active in the overall

Learning from their Mistakes In a business that is unit-economics wise profitable, there is always a choice between scaling faster and maintaining the bottom line. Initially, it was difficult for Sourabh and Smiti to prioritize one over the other, but with time they have learned the art of managing both from a startup point of view. “Last year we did a GMV of 100Cr and are on the path to building a billion-dollar business”, adds Sourabh.

Hiring has also come with its learnings. Advantage Club has a robust team which has helped in the company's growth to this point, but this is also a derivative of the fact that they have made an intense hiring process.

"Earlier, if someone would come through a strong reference or if that candidate was someone known to us, we used to almost skip the entire process and hire the only basis the person’s feedback. After facing a scenario in which we hired a wrong person for the role by skipping the hiring process, we realized that not everyone has the potential to work on everything. Talent and experience for a specific Smiti Bhatt Deorah domain matter a lot, and hiring a wrong known person also spoils the relationship from a longterm perspective”, opines Sourabh.

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Advantage Club believes that preserving a good and strong company culture is predominant to any organization’s success

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entrepreneurship circle in Los Angeles and attended loads of startup events. I feel entrepreneurship isn't just something you suddenly wake up one day and decide to do, it is ingrained in your system, and there is a journey through which one gets there", opines Sourabh.

Entrepreneurs have different backgrounds and philosophies and work in a variety of industries, but what they have in common is that they each have a person whom they look up to that affects and inspires their work ethic. Having worked with Amazon in California on Kindle Devices, Sourabh liked the journey of Jeff Bezos.

Being the sole developer in building the core search on Kindle devices, he learned a lot from Amazon. He adds, “Amazon gave me an insight on how a fast-paced amazing

CXO OUTLOOK July-August 2020

culture is built. The idea that you need to create a paramount focus on customer experience and that ideas should fight, people shouldn’t, are both the core thought processes of JeffB and we strongly follow them here at Advantage Club too”.

Believing that the primary role of any entrepreneur is to be a problem solver, Sourabh feels everything they have done so far with Advantage Club is nothing but solving client problems. In a broader sense, Advantage Club addresses issues of employee engagement for organizations, and the difficulties of corporate outreach for brands. "Every feature built on the platform has been created after understanding customer pain points. This is also one of the reasons our clients love us because we try to understand their issues and build solutions accordingly”, says Sourabh.

Achieving Greatness Globally Initially getting to the first 10,000 users, now Advantage Club runs with more than 250+ corporates, spanning to more than 6 lakh users. "Milestones keep evolving with business growth. Some major milestones for us have been reaching the desired user cohorts, corporates, brands and users, launching rewards and recognition on top of the perks program, launching our flexible-wallet program, raising $2Million total in funding, going global and building a marketplace catering to multiple countries, etc. On top of that, every major client who has launched has been a significant milestone for us, be it a brand or a corporate partner", says Sourabh.

Keeping digitalization and uniformity in mind, the way Advantage Club is innovating is starting to take ownership of the entire benefits lifecycle of an employee. "Currently focusing on giving a holistic experience to employees and providing a single platform for organizations where they can single-handedly manage benefits, rewards, reports, and many other things under one umbrella, we plan to become global leaders in the benefits space", concludes Sourabh.

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MOST INSPIRING

CXOS IN BEAUTY AND FASHION INDUSTRY IN INDIA

Rachel J Amirtharaj, Founder, La Fantaisie

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Weaving Your Fantasy Wedding

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n recent decades, the fashion industry has been able to attract more attention to its sector and has become one of the driving engines in global development. India's apparel market will be a whopping worth of $59.3 billion by 2022, making it the sixth-largest in the world.

This industry consists of five distinct levels: haute couture, luxury wear, affordable luxury wear, mainstream clothing, and discount clothing.

During this pandemic, until the commencement of Unlock 1, all the shops, showrooms, label outlets, etc. were shut to contain the spread of the disease. With shops closed around the world, consumers were moving to digital media to shop for either kind of fashion wear. The brands that already had their shops online have benefitted significantly by grabbing the consumers’ trust and faith. “So, to say, the Indian Fashion Industry can stay afloat if it works on building a strong and robust online presence, as it is the key to a brand's survival now and their success in the future,” quips Rachel J Amirtharaj, Founder, La Fantaisie.

CXO OUTLOOK July-August 2020

Starting her first company at just the age of 22, Rachel understood the importance of money since she was a child.

“I tried to save money and learned to monetize my skills.

Along with my Government job in Delhi, I had a lot on my plate. My passion and dreams made me start my first venture, which motivated me a great deal to start my dream label, La Fantaisie”, says Rachel.

Bringing your Dream Wedding Dress to Life Weddings are a particularly special time, and nothing can lessen its importance. Every bride has dreamt of wearing the perfect wedding dress while walking down the aisle.

"La Fantaisie translates to ‘The Fantasy.’ I decided to label my brand with a french term as I feel Fashion and France go hand in hand. La Fantaisie is the salon where every bride’s fantasy meets reality and her happily ever after begins”, opines Rachel.

The idea of La Fantaise came to Rachel from her dream of wearing a beautiful wedding gown on her wedding day

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I strongly feel that being available and approachable solves 90% of the feeling of being biased and opinionated.

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With an open-door policy for all the employees at La Fantaisie, Rachel aims to provide a quite simple work environment for all the workers

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which she couldn’t find. “I had the idea, but I didn’t know what to do with it, and later when I was transferred to Delhi in 2012, I figured that it is the best place and time in my life to sow the seed of my long-awaited dream venture. So I started La Fantaisie in 2013 from scratch, with a passion for filling the dearth of Christian bridal apparel wear in the country of billions”, adds Rachel. Today, La Fantaisie has become a name synonymous with gowns that strike the right balance between luxury and affordability while showcasing the innovative craftsmanship to its customers.

Having always been a dreamer and rebel, Rachel is someone who bravely follows her heart. Before starting La Fantaisie, Rachel was a public servant with the Government of India, with a dream to start her own company that would fulfill the dreams of many other people. “I do what I think is best for my career, family, and friends, and the people of the world. I am a believer of God and I strongly believe that this world can become a much better place if we all do our little bit”, adds Rachel.

Considering herself to be a wild child, Rachel was always up to some mischief and passionately curious about everything around. She was a bright kid with a lot of ideas, which helped her learn the value of money at a very young age. “I wanted to be a conductor in my childhood days. When asked why, I said because he is the person who collects money from everyone, and he is the richest person I see every day. My dad asked what I would do with the money. I replied that I feel bad when people are not treated fairly because they have less money, so I will give it to them. My dad made me understand that there are many ways to bring change, and the most effective way is

to change the mindset of the people who ill-treat others by having a voice of your own and not just money. When I become somebody, then my thoughts and opinions would be heard,” recalls Rachel.

This lesson stayed with her. Now that she has a voice, Rachel is doing her best to bring the change that she always wanted to see in the world. "I have been able to help women in the slum, assisted in the rehabilitation of juvenile drug addicts and convicts, and have stood tall with the pride community,” quips Rachel. Also, Rachel has completed her Masters in Management from IIM-Bangalore.

Scaling Extravagant Heights Leadership has never been easy, starting from putting plans into actions to leading the change to admitting mistakes to listening to learning or being humble during success or even being confident during setbacks, it’s always a tough road. But Rachel’s approach has always been flexible, at the same time sticking to her principles. Starting with just 2 gowns, La Fantaisie now offers an overwhelming collection of over 200 wedding gowns, unmatched with world-class fine quality for any occasion. "I worked day in and out to design the most exclusive collection which could not be found anywhere in India to uplift the style and fulfill the dreams of many," says Rachel.

Social Media has helped La Fantaisie showcase its products and services, aiding them to increase its customer base. It has encouraged others to experience the brand and its offerings in the same way. “La Fantaisie has been significantly impacted by digital support. I'm able to promote my brand, reach out to potential customers,

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establish associations with celebrities, which has enhanced my reach and brand image amidst the audience," opines Rachel.

Rachel considers herself to be very lucky, as she got everything she wished for. “I never went looking for opportunities to style for movies, but I got the chance to style Irrfan Khan, Jimmy Shergil, Mahi Gill in the movie ‘Saheb Biwi Aur Gangster.’ My all-time high would be my collaboration with Ror Rodriguez, International Fashion Designer, for styling Rajnikant and Amy Jackson for Robot 2.0. Along with this, I have also got to style many celebrities like the global diva Priyanka Chopra and Soha Ali Khan, to name a few”, says Rachel.

With an open-door policy for all the employees at La Fantaisie, Rachel aims to provide a quite simple work environment for all the workers. “I strongly feel that being available and approachable solves 90% of the feeling of being biased and opinionated. It helps create a joyful and positive field with a great team spirit,” opines Rachel.

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Extending the Helping Hand The global COVID-19 pandemic has significantly impacted humanity, and is further, menacing the world economy. It has taken its toll over us too. Many businesses and people are financially burdened by layoffs and other primary responsibilities, respectively, that the desire to buy new clothes feels like a distant dream.

La Fantaisie has been able to capture 20% of its prepandemic sales through its e-commerce portal. They are also encouraging customers to shop online through the website or virtual meetings, instead of stepping into shops. "We aren't expecting the numbers to pick up anytime soon. Also, we understand the repercussions of COVID-19, and we aim to help our clients stay safe and healthy," says Rachel.

With COVID-19 as the uninvited guest in our lives, any short-term goals seem impossible in terms of business.

“Though to keep the business afloat and our employees' jobs intact, we have ventured into manufacturing PPE (Personal Protective Equipment) Kits, but any short-term goal for our core business is out of sight,” says Rachel.

Started La Fantaisie by investing her savings into the venture, Rachel feels one must choose something they love, as they are going to spend the rest of their life around this idea. As long as one is genuinely passionate about it, they can be satisfied with their life. Advising all the budding entrepreneurs out there, Rachel concludes, “Follow the 1000-day rule- If you can survive for 1000 days, you are built to last".

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Helping You Recruit the Right Man for the Job A Premier talent acquisition firm, Engagemytalent was incepted to enhance the General Employability skills of the masses that otherwise face a lot of challenges due to the dearth of an adequate quality Training Opportunity and Environment and to provide them with sufficient job opportunities.

CXO OUTLOOK July-August 2020

he challenge of employment in the Indian economy, especially after its growth acceleration since the mid-1980s, relates to its quality rather than its quantity.

While employment growth has kept pace with the labour force over the long run, what has grown is informal employment. At this point, the biggest problem in India in terms of unemployment is the lack of required skill set for the majority of jobs available. According to the recent report by UNICEF, the majority of Indians would not have the necessary skill set for 21st-century employment by 2030. "Staring at a situation which is likely to spell doom, we are trying to bridge the gap by equipping people with the required skillset. Once they have acquired the same, we help them find the relevant opportunities & avenues”, says Niraj Agrawal, Managing Director, EngageMyTalent HR Solutions.

Offering all services under the Gamut of Human Resources, EnagageMyTalent provides services ranging from recruitment to payroll processing.

“Our services are tailor-made for a different set of requirements for a different set of clients. At the time when we started with our operations, there was a serious dearth of HR Consultants in Kolkata.

People had this misconception that HR was only about recruitment and we have been successfully able to break that perception & create awareness that there is more what you can expect from an HR Consultant apart from recruitment”, adds Niraj.

Pooling their savings to fund their startup, Gopal Prasad started EngageMyTalent, with whom Niraj has been working since the company’s inception. The team also consists of Ranjana Sen and Priti Saha who are also a part of the core team.

“They had taken a sabbatical from their work at some point in their lives due to personal reasons.

Now, here they are, forming our core team. So, you can easily gauge the kind of journey which they had traversed and how they had evolved in due course of time. We, as an employer, believe in the idea of providing equal opportunities to all and sundry. We believe that a woman need not be empowered by us. She is already empowered. All she needs is the opportunities”, opines Niraj.

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We have successfully placed more than 500 candidates in the span of 2 years and have started making a profit since our 4th month in business

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Niraj Agrawal

154 Providing services that are reasonably priced, competitive, and cost-effective, EngageMyTalent started with a clean slate as they believed that assumptions can be a recipe for disaster.

“We did not have any preconceived notions about the market. For us, everyone is an ideal customer, be it a job seeker or job giver”, quips Niraj. Having been able to build a credible professional relationship with our clients, EnagageMyTalent has had a 100% success rate when it comes to retaining their clients. Niraj adds, “We have successfully placed more than 500 candidates in the span of 2 years and have started making a profit since our 4th month in business”.

Setting a benchmark in the market, EngageMyTalent does not bother about its competitors. “The only competition which we have is with us as we want to better the benchmark”, opines Niraj. Considering their honesty and dedication towards their client as their USP, he also adds, "We as an organization do not believe in doing different things; rather, we believe in doing things differently.

We spend a lot of time researching the requirements of

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different clients to come up with the best possible solutions and of course within their budget”.

Consolidating and strengthening their position in the market, EngageMyTalent plans to scale up its operations. “As our nature of work has an enormous scope of scaling up, we wish to start operating in Bangalore at the beginning of next year, and explore opportunities in other metro cities like Hyderabad and Pune”, says Niraj.

Whether it’s the ruthless corporate culture or the repetitive daily tasks, the thought of escaping it all and controlling your destiny is a hugely attractive prospect.

Yet people refrain from taking the jump as they need a degree in marketing or an MBA to understand the industry when we are living in an internet-driven world where one can achieve success without having the qualifications or business experience. “My message is to not have a preconceived notion regarding Market Dynamics. Operate with a fresh set of mind, and certainly, you would achieve your goals”, concludes Niraj.

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LEADER'S INSIGHTS

A Technology Enabled Entrepreneurial Ecosystem Can Be a Driving Force in Realising India's Potential to Deepak Singhal, Become a Global Enterprise Architect Director for DEMS Business, Capgemini Superpower Deepak Singhal is a technocrat with over 20 years

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of experience across domains like cloud computing, JAVA programming, and other emerging technologies like AI and ML, with a passion for entrepreneurship.

As a certified Big Data expert, Security, Alexa specialist and AI designer, Deepak has worked with a vast number of tech and non-tech start-ups as well as with leading international giants, including IBM, Integral Development Corporation (India and US). Currently, he is working with Capgemini, as the Enterprise Architect Director for DEMS (Digital Deepak Singhal

Engineering and Manufacturing Services) Business.

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ver the past few years, Indian businesses have taken massive strides in adopting new-age technology innovations across sectors.

Further, supported by progressive government initiatives like Start-up India, Digital India, Make-In-India, and the recent Vocal for Local, and supportive financial framework, the Indian start-up and entrepreneurial ecosystem has boomed. This is partly also due to the ease of doing business, supported by technology. All one requires now is

CXO OUTLOOK July-August 2020

Despite these technology enablers, the Indian SME/MSME and start-up sector still remain one of the slowest adopters of technology

a disruptive idea, the vision to take it ahead, access to the internet and a few supporting service providers, also available over the internet, and a start-up may be ready to flourish! One no longer needs to put significant initial investment in office space, furniture, or machinery to start a company. Take examples of Google which was launched in a garage; or Facebook, which was started in college, or even Flipkart which was started in an apartment of Bansals!

Speaking of ancillary services, a start-up in the e-commerce space can now have access to third-party service providers like logistics and warehousing companies which can offer to take care of their inventory. Or even social and digital media platforms that provide 'design your own campaign' at home, with the click of the mouse, mapping geographic, demographic, and a socialeconomic class of your target audience! Or even social and digital media platforms that offer 'design your own campaign' at home, with the click of the mouse, mapping geographic, demographic, and a socialeconomic class of your target audience! Same goes for cloud and data hosting service providers, where one can skip the massive 5-year hosting retainers and get a spot on a cloud server on an hourly basis. The best part is that you can get hundreds of servers on the click of a button, use them for a few hours (perhaps to run a machine learning model) and you pay only for those hours.

These are from my prior experiences with various start-ups where I could just host the product on a cloud, do advertising on social media, and my start-up was up and running!

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However, despite these technology enablers, the Indian SME/MSME and start-up sector still remain one of the slowest adopters of technology. As a sector that contributes 24% to the national GDP and is one of the largest employers in the country, it also continues to battle challenges like inadequate credit and financial facilities, lack of skilled labour and access to affordable and effective technology solutions, while facing fierce competition from domestic and international players.

While the recent pandemic and the resultant slowdown have impacted business, it has also forced the sector to recognise the urgent need of having a capable technology-enabled business infrastructure that could help them survive. As per a survey

by Nasscom, only a little over 18% of all Indian start-up's are leveraging deep technology, as of November 2019. This was a 40% CAGR from 2014 when it was only 8% of all startups. The Indian SME/ MSME sector, on the other hand, also offers a market opportunity from technology adoption that is set to grow at a CAGR of 25%, from US $ 30 billion in 2019, to US $ 85 billion by 2024. From efficient cloud computing infrastructure that can allow secure work environments for work-from-home settings to data privacy and cybersecurity have all become major priorities for businesses to sustain during this period of crisis.

While supportive policies, tax holidays, and financial relief packages are all in the pipeline to help salvage the sector which is the backbone of the Indian economy, the government's vision of enabling it to raise its GDP share from 29% to 50% in 5 years, seems like an uphill task and will depend on several factors, including fast-track digital adoption. Key factors that need to be addressed to drive digital adoption among SME/ MSME can be listed as under: 1.Digital Literacy One of the critical reasons for the poor adoption of technology is a lack of knowledge about the potential of a solution and poor understanding of technology processes. This often leads to miscalculated decisions which prevent them from adopting new technology. This is true, especially in Tier 2 or rural enterprises, which also face a challenge with English language communication and thus often find technology to be intimidating. Structured digital literacy programs coupled with solutions that are accessible to non-English language natives, can go a long way in breaking the barrier and making technology more user friendly and understandable.

2.Making technology affordable Apart from gaining an understanding of technology solutions, making them affordable is another crucial factor that mostly impacts the decision-making process. While most players in the sector are already battling economic slowdown, moving from a conventional to the digital format of business can be

CXO OUTLOOK July-August 2020

One of the critical reasons for the poor adoption of technology is a lack of knowledge about the potential of a solution and poor understanding of technology processes

viewed as an additional investment which may not appear as a top of the list priority. Creating affordable solutions, add more value and help generate better ROI for SME/ MSME's, would help drive faster technology adoption.

More about

Deepak Singhal As an entrepreneur, Deepak initiated a few tech-enabled ventures, namely, craftedkids.com, a platform to show-case skills of young children, singledigitlottos. com, yourlocation.in and birthchums. com, all of which helped him to leverage his entrepreneurial skills, guided by a clear and enabling technology vision.

Additionally, Deepak's continuous quest for best in class business solutions led him to develop two Machine Learning products. The first, being a tracker of Stock market movements. The second, being to show price comparisons of products across the different e-commerce portals based on images, leveraging his experience at Integral.

Apart from his own venture, Deepak has worked extensively with start-ups and has been instrumental in helping them build a robust tech infrastructure to create a lean, agile and scalable operation model.

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Hopscotch, a leading eCommerce player in kids wear, who was able to leverage Deepak's visionary guidance beyond just technology expertise, to scale up to the next level.

3. Customised solutions While making technology accessible and affordable is an important step to drive technology adoption, customisation of these solutions is a vital aspect that is often a major roadblock for SME/MSME's. Creating solutions that offer tailor-made solutions to address the specific needs of small businesses can go a long way in encouraging wider and faster technology adoption. From solutions for operations, CRM, HR to more complex solutions for data analysis and management and integration AI and ML for business, technology as a solution needs to be effective, efficient, and impactful, even when dealing on a smaller scale.

4.Skilled labour Apart from affordability, accessibility, and customisation, technology solutions for small businesses are also restricted due to the lack of a skilled workforce. Even after adopting the best solutions, setting up a workforce that can operate and leverage the same effectively on a daily basis, can be a challenge. Unlike MNC’s and larger corporate businesses, SME/MSME’s employ limited labour and may not have the bandwidth to recruit candidates with specialised expertise to access the technology solutions. A technology infrastructure that is in line with the ROI and business solutions needs to be supported with a trainable workforce that can access the same effortlessly.

5.Supportive Digital Infrastructure While all of the above factors impact individual entrepreneurs, the presence of a robust digital infrastructure across the business ecosystem is imperative to not only drive initial adoption but to ensure sustained practices and eventually lead to permanent migration of businesses to digital platforms. From a strong fintech infrastructure to seamless integration of new-age technology innovations across communications, HR, CRM and Data management, are the new foundation stones for a digitally empowered economy.

Even as India gears up to become an economic superpower by harnessing the people, technology, and global business opportunities across sectors, it's SME/ MSME, and start-up sectors continue to grow as the key driving force of the economy. The entrepreneurial spirit, when supported by financial policies and focused technology solutions, can go a long way in building India as an economic superpower.

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Making a Healthy Society that is Mentally and Physically Fit Sohan Singh is a practitioner of Yoga for almost 25 years, and Sohan Yoga is all about helping society get healthy with a positive mindset.

CXO OUTLOOK July-August 2020

he coronavirus pandemic and the ensuing lockdown and limitations have forced individuals to battle every day with their new way of life. The world is feeling the need for Yoga more than ever owing to the coronavirus pandemic, and the ancient Indian practice is helping a large number of patients across the globe defeat the disease. “Yoga is a way to lead a happy, healthy, and meaningful life. Yoga benefits you spiritually, mentally, and physically. It connects you with the god within you. It has made my life so much better and easier”, says Sohan Singh, Yogi, and Entrepreneur, Sohan Yoga.

As a practitioner of Yoga for almost 25 years, Sohan Yoga is all about helping society get healthy with a positive mindset. "We have a straightforward approach, you can start the journey to get healthy at any age, as long as your mind and body decide on it", opines Sohan. Yoga has helped Sohan understand that this is the way to enhance an individual’s capabilities. Started as a duty to society and not as a business idea, Sohan Yoga offers a real yogic journey to everyone with an aim to make people healthy, physically, and mentally. “I feel yoga is the answer to anything and everything and a person who practices yoga lead a meaningful and healthy life”, quips Sohan.

Professionally trained in Hatha Yoga, Asthanga Yoga, Flow Yoga, Couple Yoga, and Yoga Therapy, Sohan was previously an IT Professor before he became a Yoga Guru. "During my college days, one of my professors said that if you want to make full use of both of your brains (right and left), you must start practising Yoga. This impacted me so much that I started taking Yoga seriously", says Sohan. Considering himself to be an influence on himself, Sohan believes that everyone should get inspired by something within themselves, which should influence them to become better. He adds, "Sometimes, people get influenced by other known personalities, but they forget that every individual is unique in their way with a different mindset".

Delivering a modern package of the unique yogic value of Ancient India, Sohan Yoga offers customized yoga package for every individual.

Be it an IT Professional,

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Our focus is only on making ourselves better by each passing days

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Pregnant Women, Kids, or Students, Sohan Yoga has a package for everyone based on what they do. “For us, the most important thing is what we are offering and how can we make a difference in society. Our focus is only on making ourselves better by each passing days”, says Sohan.

The Pandemic Outbreak has impacted businesses everywhere, and Sohan Yoga is no exception. Practising Yoga in groups has become difficult due to social distancing and other precautionary steps that have been taken in the pandemic. Sohan says, “Yoga is something which can give hope in this time of crisis as it boosts the immune system and makes you stronger and healthier from within”.

CXO OUTLOOK July-August 2020

Whether it’s a milestone or a hurdle, Sohan has accepted them with equal enthusiasm. “The deeper I go into my profession, the more I want to make a difference in other people’s life. It has become my addiction to change other people’s way of life in a good and meaningful way. I get more and more passionate about my work by each passing day, which I think is a bigger milestone than anything else”, opines Sohan.

Sohan Yoga is currently using social media platforms to introduce this new way of yoga life to the people. "Today's social media has a great influence on any business. It connects you with the masses instantly and daily. You can reach out to everyone whenever you want to. Social media

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Delivering a modern package of the unique yogic value of Ancient India, Sohan Yoga offers customized yoga package for every individual.

has been beneficial for our venture to grow and connect with the world”, he adds.

The health industry in India is very disorganized presently. The focus is more on how to cure a disease rather than how to stay healthy and fit so that you don’t suffer from any illness in the long run. Planning to make Yoga a fashion trend in India among the youth, Sohan intends to open around 30 yoga centres in India.

"I want to encourage more and more youth to practice Yoga and make it a way of life. People of every age group should practice it as it is a gift which is given to mankind", says Sohan.

Becoming a successful entrepreneur means understanding hard times are when you need to push.

Advising all the budding entrepreneurs out there, Sohan concludes, “Stay true to yourself. Focus on your skill sets and make them better by each passing day. Always keep in mind the core value of your business and try to make a difference in society. We together have to make India more successful in terms of health, happiness, and prosperity”.

CXO OUTLOOK July-August 2020

EXPERT OPINION

Key Trends That are Driving the Car Rental Industry

Arpan Srivastava, Head of Product, Zoomcar

Arpan leads the Product Management and User

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Experience Design teams at Zoomcar. His team is responsible for building industry-first experiences across Zoomcar's Renter, Subscription, Operations, IoT and B2B product lines. Arpan comes with 8 years of product experience in the consumer internet space, primarily in the e-commerce and classifieds spaces.

Arpan Srivastav

CXO OUTLOOK July-August 2020

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he rental car industry has witnessed a significant boom in user numbers and has garnered trust from its ever-growing audience, particularly in recent times. The industry has gained increased affinity from users who require a rental automobile for on-demand conveyance. This, in turn, has decreased the reliance on public transport services that offer little flexibility yet come with high transportation costs. Rental cars are a perfect choice to navigate to a location with your friends or family without actually bearing the expenses that come with owning the vehicle. The charges are admissible regarding the fact that you are renting it for a specified time frame.

That being said, the rental car industry has inclined itself towards a few trends that will govern its future scope in the upcoming years. Here are some of them.

Connectivity remains a key attribute in the Rental Car Industry with the integration of AI and IoT

AI Integration The distance covered by the automobile to the established rates is a primary factor in the rental car industry. The infusion of AI-driven algorithms helps to further optimize the routes and charges with precise monitoring. Even a tiny spec of data can improve the profit margin significantly. AI Integration also provides real-time tracking of the vehicle irrespective of its location. The gradual wear and tear, which is not visible to the naked eye, can be pinpointed by the system.

This comes handy in a situation where a customer has exposed the vehicle to a rash driving environment. Brands in the rental car industry can identify the damage that will be prompted by the vehicle, thus helping in putting up a maintenance estimate to be borne by the user.

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Location-Based Demand The demand for rental cars has been addressed by airports as well. Major airports are now integrating rental services which are most sought by the users that know a city and just need a medium to traverse it. This also liberates tourists to navigate in an unhindered manner. The services are also mushrooming at hotels which is the second-best spot for amassing consumers.

The airports are a significant contributor to the surge, followed by the hotel and tourist spots that are including a rental car service in their business operations.

CXO OUTLOOK July-August 2020

More about

Arpan Srivastava He has previously worked as a Product Manager and Lead at Myntra, Amazon and Naukri.com. His experience encompasses a range of products like growth funnels, user-generated content, recommendations, cataloging systems and two-sided marketplaces. At Myntra, Arpan and his team were responsible for building category-specific product representation and launching Myntra's Personal Care selling experience. He also built Myntra's fashion-focussed user-generated content product from scratch and revamped product recommendations.

Arpan is passionate about building products which customers love and enjoy daily. He considers his primary job to be to inspire Product Managers to build inspiring products.

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Subscription-based model The rental car industry has witnessed a variety in the user's demand regarding the time frame and purpose of the transaction. The interest is shifting from the orthodox renting of a vehicle for a day or two between fixed routes.

Users are now seeking flexibility in the time frame with the complex movement structure. To accommodate this unprecedented demand, the rental car companies are now rolling out subscription packages with detailed terms.

Subscription packages include different vehicle categories, rental purposes, rental frequency, and other intricacies. The vehicle categorization helps improve the pricing of the plans that can cater to much-diversified audience interests. The trend of occasional weekend bookings has shifted to working professionals who are seeking a daily commute option. The rental option solves this problem without investing in an actual vehicle itself.

The purpose of renting can be business or leisure and can directly affect the choice of the vehicle. It can also vary from daily to weekly or monthly requirements.

Connectivity Connectivity remains a key attribute in the Rental Car Industry with the integration of AI and IoT. The rental services use tech-led connectivity methods to improve route prediction and cut operating costs. It also induces a diagnostic-enabled environment that reports any malfunctioning in the vehicle. Seamless reporting of

CXO OUTLOOK July-August 2020

errors can help to predict and minimize loss (life and property).

Eco-friendly Solutions The car rental industry is supplementing the green revolution with minor changes in its operating procedures. Major players in the industry have begun employing electric vehicles to minimize the stress on the environment. The option of carpooling and sharing rides significantly reduces the hazardous emissions produced in a day. This also inflicts less burden on the already crowded public transport systems.

It might not appear to be a major cause for concern, but there is a noticeable surge in the sales of electric vehicles. This is an indicator of how the dynamics of the industry will shift towards eco-friendly alternatives over fuel-based vehicles. The rental car Industry is improvising on the matter and will undoubtedly be a major mobility concern in the next decade.

The concept of car rentals is not new, but the demand is like never before. People are gravitating towards subscription models more as compared acquiring the ownership of a vehicle. This is also diminishing the interest of users from buying automobiles that will be seldom used. It is also accessible by a major section of the population due to competitive pricing. The idea is steadily gaining popularity and is bound to take centre stage within the next decade.

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CXO OUTLOOK July-August 2020