I IN MY WAY OF FINANCIAL FREEDOM

I IN MY WAY OF FINANCIAL FREEDOM

I went to Jaipur for my school’s Silver jubilee reunion. Old friends came together. We met and interacted with each other like school boys. Shared our journeys and our success.

One thing was obvious that some of these 40 plus have created far more wealth than others. I know my class mates very well, wealthier ones are not special/ extra intelligent. They were rather on the lower grades in school.

I was stuck with a question, what makes some of them Wealthier? Far wealthier than I am…

Some of them are wealthy enough, that they do not have to work for money anymore now. I found them working for community and Rotary clubs, traveling and learning new things. And also still going energetically into new ventures etc.

Burdened with the question, when will i have enough money to be able to do things of my choice. And not work for banks and EMIs? Why are some of them wealthier than I am? I was seeking answers!

Incidentally I attended a program called Millionaire mind intensive ( MMI - http://mmiin.com/) couple of years back, on recommendation of a neighbor. And it challenged my 40 year old belief system about money and wealth. Dangerous program 😉

That program shook me! As program claimed that each one of us get to the desired level of wealth!

 We do not create more wealth than what we have, because we do not wish to. ( What… r u kidding ?)

It went on saying that we kill the developing wealth if it falls outside of our permissible wealth limit. Who would not want wealth? In short program suggested that ones who are wealthy are so because they choose to become that wealthy…

The program challenged lots of my beliefs which were restrictive in wealth creation.

I am examining them even today and they seems more like myths now. What is your view on them? I am keen to explore your views on this.

1)      Money brings stress and responsibility. It reduces the freedom.

Big time limiting belief for me! On reflection and now with experience I know that Money brings freedom to do what we wish to do. It enables what we and our family wish to do... Clothes / classes/ vacations/ cars etc.

Money creates assurance and security and hence actually reduces stress. It creates freedom of learning, experimenting, time and hence joy! Money reduces stress was a new finding for me.

I looked at our religion and mythology. India has acknowledged and respected wealth so much that it has created a Goddess of wealth. Lakshmi! She is wife of Vishnu, the sustainer of the world.  In pitures God Vishnu is depicted to be at peace, relaxing with Lakshmi serving her at his feet. Brilliant analogy. Biggest Indian festival is dedicated to the goddess of wealth, Dipawali.

I think contrary to belief, Joy and energy fetches and generates wealth. Huge energy is required for huge wealth.

2)      Rich people are mean. They get rich by unfair means. They are snob and unapproachable.

Another misconception. I now know lots of rich people closely. They are rather very generous and friendly. They are confident and progressive. Richness in most cases is created by being at the right place at right time. Richness is outcome of creating value for others and hence self. Rich are philanthropic, they are caring, religious etc. Rich people donate and sometimes without others knowing about it. Quite prevalent in India in Sikh community etc.

3)      It’s hard to earn Money. Earning money takes time, which is needed for self, family, health etc.

What is your view? Is this correct? My learning is that, in the hierarchy of financial status lowest rung seems to be working hardest ( eg. Rikshaw puller) and wealthy folks the least (eg industrialist). Its rather strangely reverse. Hard work does not seems to have direct correlation with wealth. Woof ! Then what ?

Most people don’t get what they want because they don’t know what they want- said T Harveker. Making money is actually easy, if there is belief that one can make money.

 It’s said in the book – secrets of Millionaire mind that money is directly proportional the one area of comfort. Wider is the comfort zone, more money can be created. Hence one should be willing to go out of the comfort zone and believe. For wealth when one need to believe to see! ( Paradoxical to one need to see to believe)

4)      Money is finite. One gets at the cost of other. When others do not have to eat, how can I be greedy.

In my view, its again a reverse belief. Money is transitory. If we create velocity in money, it benefits all. Richer people create opportunities of growth and earning for others. Like rich nations. Money is infinite and in abundance. Money earned is in direct proportion of the Value generated.

5)      This is not the right time to earn more. I am too old now. Opportunities are exhausted already !

This was my last argument! However you and I know that Its always right time to start to create wealth. It may take time. But its never to early or late. Having challenged my own beliefs, I am now more open for the abundance. Which is waiting to happen in my and each of our lives.

Thankfully I went to the reunion and it changed my perception of correlation of capability/ hardwork and wealth.

Please write to be if you agree or disagree to this controversial matter. It may help in collective belief refinement.

May desired wealth flow in our lives! Amen!

BRAND WITH A PURPOSE

Who needs more brands in Apparel ? And what could be the new brand making opportunities in these times ?

There is constant addition of the brands in each of the possible categories, possibly every week. 

Brands starts to look like other, creating Clutter.

 Especially in apparels, there is an oversupply as entry barriers are low. And brands are being created for every possible reason. Brand reason distribution looks like this.

·         International pedigree brands ( Levis, Louis Phillippe, Pepe, wrangler, UCB, Jack and Jones,.etc)

·         Indian brands appearing as international brands ( Peter England, AND, Hidesign etc)

·         Occasion serving brands ( Manywar, Biba, Woodlands, wildcraft, Black berry, jockey, …etc)

o   Denim brands ( Spykar, Killer, Mufti etc)

o   Formal brands ( Raymond, Park Avenue, Arrow etc)

o   Marriage ( Manyavr, Mohey, Biba, Taniera, etc )

o   Office wear brands ( W, Allen solly etc)

o   Party wear ( Zod, Vdot,

·         Cost effective brands of Deptt stores ( Rangmanch, Stop, Code ..etc)

·         Fashion lead international stores ( Zara, HNM, splash, Now Uniqlo ..etc)

·         Indian ethos brands ( Indian terrain, Fab India..etc)

·         Seasonal brands ( Monte Carlo,

·         Extended brands ( Royal enfield, Wills life style, )

·         Sports lead ( US polo, LP sport etc)

·         Fiber lead brands ( Liva, Linen club etc, )

·         Ecomm brands ( Roadster, Anouk, abof…)

·         Celebrity lead brands ( HRX, Imara, Mstaken, Nush, rheason,Ecko..etc)

What do you think, does India need more brands with a beautiful looking model, wearing nice set of garments ? Bull ! And that is what is being harped about today...How paradoxical.

Does Indian consumer already gets more than he is asking for ?... You are best judge by yourself.

Brands have been created in all possible reason! Interestingly.... For the same pocket share.

Leaving consumer with a feeling that brands have only one objective, which is to lure and fleece !

And consumer has started to move away from branded world to the world of economic fashion.

Then WHAT could be the possible reason of new brands emergence?

In my view, BRANDS WITH PURPOSE is the rapidly emerging possibility. Each brand should evoke an emotion in consumer when used. Deeper the emotion, deeper is the association with the brand. 

With the increasing consciousness in masses, brand with the Context could gain mind share very quickly.

Patanjali has proved it without doubt.

Being Human is a very successful brand in apparel in India with celebrity and purpose.\

Pawsitive in Srilanka for stray dogs, Fashion project of Boston on charity, Satya Jewelry for orphans, Warby Parker glasses for chidren etc.  

Brands with Purpose, appeals to both Heart and Mind. Simon Kemp wrote a beautiful blog on the same in 2015. ( https://wearesocial.com/uk/blog/2015/01/building-purposeful-brand). Suggesting that we cannot keep on making better things... we need to make things better!

Hence purpose could be anything, India, Philanthropy, Girl child, Stray animals, Drugs..etc.

Consumer also just do not want to only look good, they also want to come across like a concerned and contributing citizens. Both to themselves and others. ( who would not ?!)

However, I think that none of the apparel brands is clear and big enough in consumers mind for its purpose as Patanjali is. While some brands talk about it, but its in timid voice.

And THAT IS THE OPPORTUNTY! And a very large opportunity!!!

I believe that a right brand with apt product launched with the clear purpose can gain very quick love and commerce. Would help in making the world a better place for us and generations to come.

Brands enhance consumerism, consumption, and hence extracting from this planet. It’s time to give back, to consumer, to people and to planet. Brand has an opportunity to leverage the underlying tacit emotion of the country. And create commercial and ecological success.

Such brands and businesses would gather lots of free support, resources, publicity etc. from large celebrities, leaders and influencers

. If rally for river can have 12 crore people giving a missed call, we surely are living in a different India today.

I hope and pray that the fashion also looks at making this world a better place. Lots of money has been transacted from hundreds of years, for one to look good outwardly. Now probably is the time to wear clothing which also helps one look good internally to himself.

Airports – the newest runways ?!

Coco Chanel said “Dress shabbily and they remember the dress, dress impeccably and they remember the women”. 

This is possibly the very basic new-age need - to remain impeccably dressed at all times and for all occasions!

So then are ‘airport looks’ a new-age need or just another peer pressure tactic?

It is amusing to witness celebrities on their latest airport looks which are so carefully crafted to look cool, comfortable and accidentally thrown together. This actually seems like the best part of this trend – it can be put together with a mix & match of just about anything from your wardrobe. Probably why the brands are refraining from promoting such a poor sales generator that benefits them in no way whatsoever.

However all snide remarks aside, there is also a sense of realistic utility involved. While traveling there is a need for comfort, especially in a long haul.

Comfort can be in a pair of slacks with an easy, relaxed tee and a simple long shrug with sandals. It can also be in your laid out linen straight legs with a soft turtle neck and sneakers. A convenient dump-it-all tote or duffel is almost a must. And not to forget the simple add-ons of sunglasses to hide away those jet-lagged eyes, a hat to conceal the unkempt hair and a trench or a jacket to cover all things crushed.

So while it seems that it is the celebs that gain the most out of this fad, it still might be worth indulging into just for the simple reason of looking fashionable and being comfortable. 

After all, Chanel did also say “The best dress in the whole world is the one that looks good on you” – seems like she was clued in!

Co-authored by Pooja Rao and Vipul Mathur.

Pooja is a Lead buyer with Abof.com. And a fashionista herself. She has acute sense of identifying the upcoming trends and consumer behavior leading to the same.

SKULT SUCCESS INSIGHT

Indian apparel brand scenario is observing a DEFINITIVE TREND LIKE NEVER BEFORE...Celebrity lead Brand launches.

Lead by bollywood and sport celebrities. Deepika Padukone's all about you, Virat Kohli's Wrogn, Salman Khan's Being Human, Yuvraj Singh's UVcan, Kriti Sanon's Ms Taken, Sachin's True Blue... and many more.

In the already cluttered and high decibel apparel brand markets, these launches are likely to be tested for their uniqueness, relevance, value and distribution capabilities.

SKULT, by Shahid Kapoor in its first year of operations has gained the awards and reputation of being one of the best ecom brand. ( Indain E retail award for 2017). This is VERY UNUSUAL. Encouragingly in ecom world this brand has been able to sell without discounts, with very high velocity, and significantly favorable conversion rates.
What's the reason of success & is it sustainable ?

In my view this unusual success is because of the following reason :

1. Celebrity alignment and support:

Shahid Kapoor lives by the values of this brand in his daily life. He is deeply engaged in creating the consistency of apparel and brand imagery with his own. This makes brand authentic. He has very evolved design and aesthetic sense. Which in my view is innate and creates very high standards for design delivery. Authenticity of this brand makes the communication very powerful and consistent.
The quote of Craig D lounsbrough probably is very true for Shahid and Skult- What I do is the truest mirror of who I am.” 

2. Timing :

Athleisure is the new wave in India. Consumers want to look and feel comfortable, easy to move and dance. Clothes should not only be nonrestrictive but should also enhance the freedom to move, and be cool. And skult is the first Indian true athleisure brand. Perfect timing ! Victor Hugo said it well, nothing can resist an idea, whose time has come !

3. Far east coming to India 

Europeans inspired India's formals, Americans inspired denims, and then casuals. Now we are permitting Far east like Korea, Japan to titillate us with their fashion. This is a new trend which is likely to stay and take a certain portion of overall fashion. Hence SKULT can grow to become a large brand, being pioneer in street/ athleisure space.

4. National presence and ecom :

New fashion always start from niche segments. Only with few individuals who are fashion leaders. And ecom has capability of scouting and targeting  them. Right from day one of brand launch. Emergence of lots of new brands has happened because of ecom's willingness to spend loads of money and create visibility and demand. Ecom acts as a low cost experimentation platform for brands without asking for huge capital expenditure of opening the store. If brand succeeds, then it can be taken to physical stores. And abof.com is arguably the best portal to establish and nurture a brand.

5. Sourcing capabilities :

SKULT has completely new and differentiated merchandise. Non existent in India. This creates an uphill task of creating small quantities of the cuts and fits which are new and experimental. Aditya Birla group name and credibility helped in creation of sourcing partnership with sourcing companies of repute and capability. And created supply chain which is both fashion creator and quick best seller replenishment.

If through this brand, Indian youth is encouraged to be active and expressive, then I would consider that to be a larger success than what has been attained so far.