Dealing with rejections as an entrepreneur, 2023's 1st unicorn!
Dealing with rejections as an entrepreneur, 2023's 1st unicorn!
In the tenth edition, discover Zepto's milestone achievement, Supperbottom’s funding, How Mohit Sadani dealt with rejections, Chandrayaan’s successful journey & much more!
Hello and welcome to the world of D2C Insider, your weekly dose of insights, news, and trends from the direct-to-consumer space in India and beyond. In D2C Insider Digest’s tenth edition you'll see:
🪥 Colgate’s new growth strategy
🚀 ISRO is selling merchandise??
🦄 The first unicorn of 2023 is here
🍵 20% OFF on exquisite teas for community members??
❌ The Investor Rejections
🎪 D2C Omni Channel Summit: Largest D2C founder’s conference
Delhivery One: Now Shipping for MSMEs
Logistics firm Delhivery has launched Delhivery One, a digital shipping platform for MSMEs and large D2C e-commerce brands. The platform integrates multiple shipping services and allows small businesses to ship without a minimum order value. It also enables shipping to over 220 countries through Delhivery’s partnership with FedEx.
Colgate’s Inorganic Growth Plans
Colgate-Palmolive (India) Ltd. is exploring opportunities for acquisitions in the personal care segment to drive growth. CEO Prabha Narasimhan said the company is closely watching the direct-to-consumer space and its intent to acquire relevant brands remains high. The company aims to build a strong personal-care portfolio leveraging the high recall of the Palmolive brand.
ISRO Merchandise Soars High After Chandrayaan-3 Success
ISRO has licensed nine companies to produce branded merchandise, such as clothing, mugs, toys, and rocket models. The sales have increased significantly after the successful landing of Chandrayaan-3 on the moon. The merchandise aims to inspire young minds and promote ISRO’s achievements
How to Deal with Investor Rejections
Mohit Sadaani the co-founder of The Moms Co. a natural mother and baby care brand that recently joined Good Glamm Group, India’s largest beauty platform. He has an MBA from IIM Ahmedabad and has worked with McKinsey and Snapdeal before starting his own venture.
In his latest post on LinkedIn, he shares his personal story of facing over 50 investor rejections and how he finally understood why they said no. He reveals the insights he gained from teaching a tech investing course at IIM Ahmedabad, where he presented his own company as a case study for potential investment.
His main message is that investor decisions are often influenced by factors that are beyond the founder’s control or knowledge, such as metrics, venture partners, internal politics, and personal assumptions. He advises founders not to take rejections personally or let them affect their confidence or vision.
Some key learnings
❌ Investors rarely say no directly
but rather use vague or ambiguous responses that leave the founder wondering what went wrong. He says that he never got a straight answer on why they said no until he heard honest feedback from the students in his course.
🔢 Investors have different opinions
and preferences based on their own criteria and dynamics. He says that six different teams came back with six different answers on whether they would invest in his company, depending on how optimistic they were, how they assessed the market size, how they read his motivations, and how pushy their team members were.
🧑🤝🧑 Investors are human beings
with their own biases, fears, hopes, and assumptions. He says that he forgot when he was raising money that only the other side was a human, not a ‘firm’. He says that they all had different assumptions of the future, which could change their yes to a no.
Founders should remember that rejections are not a reflection of their potential, but rather of the investor’s criteria and dynamics. He says that founders should listen to the feedback they get, but remember that it’s just one voice. He says that founders should choose what they want to act on and not let rejections affect their self-belief or determination.
Have you ever faced investor rejection? How did you deal with them? What did you learn from them?
Lenskart Unveils AI-Driven K-Pop Collection and Campaign
Lenskart, India’s leading online eyewear retailer, has launched a new collection of eyewear inspired by the popular Korean pop music, or K-Pop. The K-Pop Collection by Lenskart Studio features colourful and stylish eyeglasses and sunglasses that are designed to suit the preferences and personalities of K-Pop fans.
To promote the new collection, Lenskart has also created a unique campaign that introduces a virtual K-Pop band, Astro IRIS. The band consists of four AI-generated characters, each with their own name, style, and favourite eyewear from the collection. The band members will interact with the customers through a digital platform and take them on a fun and immersive journey into the world of K-Pop and AI.
Lenskart was founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi, with the vision of providing affordable and fashionable eyewear to the masses. The brand has grown rapidly over the years, becoming one of the largest online eyewear platforms in India, with over 1100 stores across the country. Lenskart offers a wide range of products, including eyeglasses, sunglasses, contact lenses, and home eye tests.
According to a report by TechSci Research, the Indian eyewear market is expected to reach $9 billion by 2026, with online sales accounting for 18% of the total revenue. The growth is driven by factors such as rising disposable income, increasing awareness, and growing online penetration. However, the market also faces challenges such as high competition, low customer loyalty, and environmental concerns.
Lenskart aims to overcome these challenges by offering innovative and differentiated products that cater to the evolving tastes and needs of its customers. The brand also strives to be environmentally conscious and socially responsible by using eco-friendly materials, reducing waste, and supporting various causes.
Peyush Bansal, founder and CEO of Lenskart, said that the brand’s mission is to “make eyewear accessible and fun for everyone” and that it is “excited to launch the K-Pop Collection by Lenskart Studio, which is a first-of-its-kind initiative in the eyewear industry.” He added that the collection and the campaign are “designed to appeal to the young and trendy audience who love K-Pop and AI.”
The K-Pop Collection by Lenskart Studio is available on the brand’s website and in select stores across India. The collection includes luxury acetate eyeglasses with colour-blocked rims and sunglasses in vibrant shades and sleek designs. The prices range from Rs. 999 to Rs. 2999.
The Astro IRIS campaign is live on the brand’s social media channels, where customers can meet the band members, watch their music videos, and participate in various contests and giveaways.
We applaud Lenskart for this brilliant launch and wish them all the best for their future adventures!! 😍
Special offers for you
Looking for some unique and personalized gifts for your loved ones? Check out these amazing offers from our partner brands and get ready to surprise them with your thoughtful choices.
Chiya Leaf: A gourmet tea boutique that offers you India’s best tea, including green tea, black tea, herbal tea, masala chai, and mesmerizing teawares. You can visit their website for an informative, live tea-making and tasting experience in an unrivalled setting. Use the code FRIENDSOFBRANDS and get a flat 15% off on your order above Rs. 449.
Aimly: A brand that offers smart and stylish stylish and good quality lingerie for women. They are made with high-quality materials and designed to suit different occasions and moods. You can order online from their website or from fashion apps like Myntra and Nykaa. Use the code Aimly20 and get a flat 20% off on your order.
ExclusiveLane: The world’s craft and design store that curates beautiful crafts and design products from every corner of India. Their vision is to promote Indian handicrafts globally and help small artisans earn a living out of it. You can shop online for home decor, furniture, kitchenware, jewellery, and more from their website. Use the code FRIENDSOFBRANDS and get a whopping 20% off on your order.
Don’t miss this opportunity to grab these amazing deals from Chiya Leaf, Aimly, and ExclusiveLane. Hurry up and order now! 😊
Available job opportunities
Mamaearth, a D2C personal care brand, is planning to raise $120-150 million in a pre-IPO round from investors like SoftBank, GIC, and QIA. The company seeks a valuation of $1.5 billion and some early investors are looking to exit.
Zepto, an Indian quick-commerce platform, raises $200 million at a $1.4 billion valuation, becoming the first unicorn of 2023. Investors include StepStone Group, Goodwater Capital, Nexus Venture Partners, and GladeBrook Capital. The funding will fuel growth and drive profitability in the competitive market.
Superbottoms, a baby care startup backed by actress Alia Bhatt, has raised $5 million in a Series A round led by Lok Capital and Sharrp Ventures. The company sells reusable cloth diapers and other baby products through its online platform and offline channels
🚀India has made history by becoming the first country to land a spacecraft on the Moon’s south pole, a feat that has been hailed as a triumph of Indian innovation, human capital, and space exploration.
Let’s take a closer look at the significance and implications of Chandrayaan-3’s success and their journey 🌝
D2C Women's Summit
The D2C women’s summit was a huge success and we got a great response. But don’t take our word for it!
Looking forward to more events like this. Stay tuned!
D2C Insider Omni Channel Summit
Are you a D2C brand owner, enabler, or investor looking for the latest insights and strategies on omnichannel marketing?
If yes, then you don’t want to miss the D2C Insider Omnichannel Summit Mumbai on September 9th, 2023. 🙌
This one-day summit will offer you the opportunity to:
🎤 Learn from the industry experts via keynotes and panel discussions
🧑🏫 Pitch to marquee investors via Pitchathons
🚀 Elevate your skills via masterclasses
Plus, you’ll get to meet and interact with over 150+ brands, 50+ enablers, and 25+ investors who are shaping the D2C landscape in India. 😍
Don’t miss this chance to take your D2C business to the next level.