Nina Lekhi - Baggit
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Nithya Nambiar started her fashion accessories company Baggit in 1985 with an initial investment of Rs. 7,000 borrowed from her mother. She gained experience working temporary jobs with designers and in sales. Baggit began by supplying denim and patched bags to stores and grew to include 21 stores in Mumbai and distribution through retailers nationwide. Though she faced challenges like lack of funds and managing growth, Nambiar was able to expand production and open new stores due to opportunities like an unexplored handbag market and support from mentors.
Nina Lekhi - Baggit
- 2. NITHYA NAMBIAR 息 2014 First Steps Failure is the stepping stone to success. Bright student in school 1983 - foundation course in textile designing. Made her more focused and determined to achieve something. At the age of 18, she decided she would prove herself Temporary jobs with designers - Shyam Ahuja & Mike Kripalani. Learning mattered more than the low salary. Learnt the most important fundamentals business: how to sell, manage inventory and deal with customers.
- 3. Humble Beginnings 1984 - part-time diploma course in screen printing and interior decoration. Salesgirls job - Amarsons, a departmental store in Mumbai. Realisation of market for fashion accessories, especially bags. 1985 took a plunge and launched Baggit with friend Mona. Visited wholesale markets raw materials Initial investment of Rs 7,000borrowed from her mother To reduce overhead costs- used untrained labour: the liftman and a security guard NITHYA NAMBIAR 息 2014
- 4. Contd. She single handedly managed everything. Denims, patched bags with military badges, tattered bags for the young and hip and more. Started off by supplying to - Kripalini & Amarsons. 1989 opened a countera store within a storein the Oberoi Hotel. The deal with Amarsons - kept the cash flowing. 1986-87 - organised her own exhibitions. NITHYA NAMBIAR 息 2014
- 5. Building Blocks 1990 - shifted to larger premises in the Lalbaug Industrial Estate. Hired freshers to work for her. 1992- opened Baggits first retail outlet, INXS, in Mumbais Kemps Corner. Today, Baggit has 21 stores in Mumbai Retailed through stores such as Lifestyle and Shoppers Stop across the country. NITHYA NAMBIAR 息 2014
- 6. Contd. 2007, Lekhi opened a store in Ahmadabad. From one manufacturing unit, (n f shs ) a huge leap from the Rs 50,000 she first earned in 1985. Like any other business, Lekhi too faced hardships. 2000 to give birth to a daughter Business took a backseat during those three years. NITHYA NAMBIAR 息 2014
- 7. Scaling Up As volumes got bigger- more challenges. Initially difficult to manage changes in inventory and cash flows, which follows from changes in demand. The involvement of her brother- lightened her workload. Staying abreast of fashion trends, launching stores in appropriate locations, rolling inventory into stores during season are all part of better management. NITHYA NAMBIAR 息 2014
- 8. Contd. That explains the strategy adopted by Baggit everything from printing and weaving to manufacturing and labelling is done in-house. Helped in keeping tabs on manufacturing delays, quality control, and research and development. The company also retails wallets, belts, mobile pouches, caps and scarves Baggits growth Teams efforts than her drive. Striven to create a work environment where everybody feels they have an equal share in the business. NITHYA NAMBIAR 息 2014
- 9. Challenges Insufficient funds Lack of Manpower Synthetic leather No business plan Work life balance NITHYA NAMBIAR 息 2014
- 10. Opportunities Unexplored handbag market in the 1980s Supportive mentor Amarsons Manjos family business Flavour for vibrant colours in any season unlike in foreign countries NITHYA NAMBIAR 息 2014
- 11. Classroom Learning Entrepreneur by chance Creative &Innovative Societal Impact Rural development Impact on work culture NITHYA NAMBIAR 息 2014
- 12. Take away? NITHYA NAMBIAR 息 2014