In Con­ver­sa­tion

Rock N Shop car­ries for­ward Priya and Charu Sachdev’s long-es­tab­lished prac­tice of break­ing new ground for fash­ion in In­dia.

MillionaireAsia India - - Contents - By Sam Lal

– Priya and Charu Sachdev talk about their new­est foray into the world of fash­ion and lux­ury.

In­no­va­tors in the truest sense of the word, Priya and Charu Sachdev have been at fore­front of In­dia’s fash­ion or­bit since the time it was a edgling move­ment and nowhere close to global en­tity it is to­day. The sis­ters launched Moschino, their rst stand­alone store in Mumbai in 2005 and then fol­lowed it up with the multi-brand Kitsch which gave Indian con­sumers their ear­li­est ex­po­sure to lux­ury la­bels like Stella McCart­ney, Lan­vin and more.

Both Priya and Charu come from much vaunted aca­demic back­grounds. Priya is a dou­ble ma­jor in math­e­mat­ics and be­gan her ca­reer as an in­vest­ment banker Lon­don. Fol­low­ing her spe­cial­i­sa­tion as a nan­cial an­a­lyst, she be­gan ap­ply­ing know-how in her fam­ily business, The Sachdev Group or TSG as it is largely re­ferred to. The Group is a lead­ing au­to­mo­bile deal­er­ship which rep­re­sents Ford, Toy­ota and Hyundai in North In­dia.

Priya has also co-founded Harpreet In­sur­ance Pvt. Ltd, a com­pany that spe­cialises in gen­eral and mo­tor in­sur­ance.

Charu mean­while, started out with bach­e­lor de­grees in law and po­lit­i­cal sci­ence from the Lon­don School of Economics, which she fol­lowed up with a Mas­ters in in­tel­lec­tual prop­erty law from the Univer­sity Col­lege Lon­don. She then founded TSG In­ter­na­tional Mar­ket­ing Pvt. Ltd which man­aged the re­tail op­er­a­tions and mar­ket­ing of lux­ury brands in In­dia.

Buoyed by her lead­er­ship acu­men, TSG In­ter­na­tional has grown into a com­pany that is the ex­clu­sive re­tail, dis­tri­bu­tion and mar­ket­ing part­ner for ter­ri­tory of In­dia for brands like Yves Saint Lau­rent, Vic­to­ria Beck­ham, Alexan­der McQueen, Os­car de la Renta, Stella McCart­ney, Diane von Fursten­berg and many more.

Rock N Shop is Priya and Charu’s col­lab­o­ra­tive ef­fort and has been con­cep­tu­alised to lever­age tech­nol­ogy in or­der to reach out to an afuent Indian au­di­ence. The on­line por­tal cur­rently show­cases more than 300 brands and aims to pro­vide an in­spi­ra­tional shop­ping ex­pe­ri­ence to fash­ion­for­ward con­sumers.

We nd out more in our ex­clu­sive Mil­lion­airea­sia In­dia in­ter­view.

What were the key ob­jec­tives with which Rock N Shop was founded?

Rock N Shop was founded with the idea of tak­ing lux­ury shop­ping to every door step of in­dul­gent and as­pi­ra­tional shop­pers in In­dia. We offer a wide premium col­lec­tion with just a click of a but­ton fa­cil­i­tated by seam­less tech­nol­ogy. The idea is to offer fash­ion for­ward con­sumers an in­spi­ra­tional and in­ti­mate shop­ping ex­pe­ri­ence.

How is the mar­ket dif­fer­ent from the time you launched Moschino?

There are a lot of for­eign play­ers who have en­tered the mar­ket and opened stores across In­dia. In­dia is now home to not only uber lux­ury brands but also brands like Coach and Kate Spade that have mass ap­peal t into the lux­ury cat­e­gory. Some com­pa­nies are re­cal­i­brat­ing their joint ven­ture part­ner­ships to widen their Indian pres­ence. When we opened our rst store, we were one of the only play­ers. How­ever to­day, lux­ury is a term which is af­ford­able to any­one and that’s why on­line great way to reach out a wider au­di­ence.

Is tech­nol­ogy a game changer in fash­ion and lux­ury as well?

Yes, tech­nol­ogy is a game changer and us­ing AI or articial in­tel­li­gence to sell on­line is the smartest tool one can use. It’s no se­cret that Articial In­tel­li­gence has been touted as one of the big­gest things to change the e-com­merce in­dus­try. Cur­rently es­ti­mated by e-Mar­keter to be al­most 7.3% of all global sales, the e-com­merce in­dus­try is us­ing AI to push the en­ve­lope. With in­creas­ing com­pe­ti­tion, all e-com­merce plat­forms need to nd smarter ways to en­gage with cus­tomers and an­tic­i­pate their needs.

There is a di­verse prod­uct range from head­phones to tuxe­dos at Rock N Shop. Do you think the Indian con­sumer has evolved as a qual­ity con­scious buyer?

Indian buy­ers are ex­tremely con­scious of what they pur­chase and are also very price con­scious. At RNS we have head­phones that t all bud­gets, from lux­ury to mass. We also EMI op­tions avail­able for our cus­tomers. This is avail­able on all prod­ucts and the great thing about sell­ing on­line is that, with the touch of a but­ton we can de­liver to tier 2 and tier 3 cities any­where in In­dia. It is be­cause peo­ple have evolved and are price con­scious we have a large num­ber of sales that come from th­ese cities.

What would you con­sider your sin­gle big­gest USP?

Rock N Shop is uniquely po­si­tioned with greater vis­i­bil­ity at the high end of the fast-grow­ing lux­ury mar­ket in In­dia. If you sell lux­ury on­line its im­por­tant to be authen­tic and de­liver a mem­o­rable ex­pe­ri­ence so that cus­tomers come back to you again.

Charu Sachdev

Priya Sachdev

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.