Kunal R Sachdev, who was instrumental in building the Hidesign leather brand and played a key role in taking it to international standards, has quit as CEO to set up his own venture in the retail space.
Sachdev, who left Hidesign two days ago, is currently in talks with venture capitalists for raising funds to float the retail start-up. “I am looking at raising USD 3.5 million from venture capitalists, as we might require a USD five million debt component coming in the third year (of operations) which we would retire by the fifth year,” he said.
The proposed venture would be based out of Bangalore and the business would have local, national and international presence.
Sachdev had two four year stints with Hidesign – from 1996 to 2000; and from 2004 to 2008.
He said starting a venture on his own is something that he always wanted to do. “I think the timing is right. The real estate market seems to be settling down a bit. It’s good time to begin a business. Because when the market rises again, you are poised well to take advantage of the situation”.
