KlarifyLife
Not everyone strikes gold on day one! India's direct-to-consumer (D2C) market, projected to reach a staggering $100 billion by 2025, has seen remarkable growth over the past few years. The Covid pandemic, rising internet penetration, enhanced digital infrastructure, and a growing population of millennials have all played pivotal roles in fuelling this transformation.
With over 190 million digital shoppers, India boasts the world's third-largest online shopping base. This thriving ecosystem presents a golden opportunity for new-age D2C brands to tap into the Indian consumer's appetite for innovation and their evolving preferences away from traditional players. While consumer spending continues to rise, balancing financial priorities is becoming equally essential.
To explore the success stories behind India's leading D2C brands, HDFC Life's KlarifyLife presents Risk & Riches, a podcast series that dives into the intersection of entrepreneurship and financial planning. In the first episode, Vishal Subharwal - Group Head Strategy & CMO, HDFC Life, speaks with Disha Singh, Co-founder of Zouk, and Harsh Lal, Co-founder of The Souled Store. Together, they share their journeys, reveal financial insights, and discuss what it takes to win over Indian consumers.
Watch the Episode here: https://www.youtube.com/watch?v=xY5HN7IOXUA
Edited Excerpts:
How does the whole idea of entrepreneurship start? What was your journey like?
Disha (Zouk): The idea for Zouk began during my MBA at IIM Ahmedabad in my second year. As part of a course, we visited Kutch to study local arts and crafts. I vividly remember admiring the vibrant craftsmanship displayed by artisans. However, something stood out: while we all appreciated the products, especially the bags, no one bought anything. I thought, "If these products can't connect with customers despite their beauty, there's a gap that needs bridging." Combining my love for Indian crafts and my understanding of urban consumer needs, I started Zouk-a brand that seamlessly blends tradition with functionality.
Harsh (The Souled Store): For us, The Souled Store was born out of passion. Growing up, my friends and I were obsessed with pop culture-Marvel, DC, Star Wars, and Harry Potter were a big part of our lives. Back in 2013, getting authentic merchandise was a hassle. You either had to settle for low-quality street products or rely on relatives abroad to bring back expensive branded items.
We wanted to change that. "Why can't Indian fans have access to affordable, high-quality merchandise?" we thought. That question became our mission, we pooled our savings and started The Souled Store. It wasn't just about selling products; it was about creating a space where fans felt seen and celebrated.
Why did you choose to build a sustainable or cruelty-free brand?
Disha (Zouk): When I started Zouk, the market was flooded with animal-based leather products. Owning "genuine leather" was seen as a status symbol. But I couldn't shake off the question: "Why should animals suffer for fashion?"
India has a strong supply chain for vegan materials, mostly exported abroad. I wanted to bring those materials into mainstream Indian products. Additionally, I wanted to celebrate Indian heritage through local fabrics like khadi and jute. For example, our bags use khadi-jute blends sourced from North India, creating products that are ethical, functional, and rooted in tradition.
Today, we take pride in our cruelty-free philosophy, proving that fashion can be both stylish and sustainable. "You don't have to harm animals to look cool."
How did you target the younger audience?
Harsh (The Souled Store): Connecting with a younger audience was natural because we were part of that demographic. We didn't overanalyse it in the beginning. With limited resources, we focused on creating designs that resonated with fans. For instance, when we launched Big Bang Theory merchandise, we included a replica of Sheldon's "roommate agreement" with every T-shirt. It was a simple touch, costing us a nominal cost, but it created excitement and emotional value for customers. These small details helped us build loyalty and trust among young fans.
What are your perspectives on personal finance and life insurance?
Harsh (The Souled Store): Financial discipline is key. Start saving early, even in small amounts. Have a safety net to cushion you against life's uncertainties. I personally rely on an advisor to help with financial planning, but ultimately, the final call is mine.
Disha (Zouk): I didn't think about life insurance until after my marriage and the birth of my child. That's when I realised the importance of securing my family's future. At Zouk, we educate employees about financial literacy, ensuring they understand the value of saving and planning early.
What's the next big thing for your business?
Harsh (The Souled Store): International expansion. We want to take The Souled Store to global markets and introduce our unique pop-culture merchandise to an even larger audience.
Disha (Zouk): For us, it's offline expansion. Building a robust offline presence is the next frontier for Zouk.
The rise of India's D2C brands showcases the incredible potential of innovation, adaptability, and consumer-centric strategies in a dynamic market. As brands like Zouk and The Souled Store carve their space in this ever-expanding ecosystem, their journeys reflect the importance of thoughtful financial planning alongside business growth.
HDFC Life's KlarifyLife initiative emphasises this balance by making financial literacy accessible for individuals and businesses alike. Backed by HDFC Life's trusted legacy, KlarifyLife is here to demystify the world of term insurance, offering tools, personalised recommendations, and free one-on-one expert advice to help you make informed decisions without the pressure to buy. Through its podcast series Risk & Riches and other resources, KlarifyLife empowers audiences to break down complex jargon, navigate endless options, and secure their financial future confidently while pursuing their dreams.
Stay tuned to KlarifyLife's social channels to dive into the stories, insights, and advice to find your inspiration and take charge of your financial future.
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