These Indian entrepreneurs launched their businesses when they were under 30 years of age. Today, their companies clock several crores in revenues
Mumbai: Age is no bar for entrepreneurial success in today’s world. There are many visionary leaders who took the plunge before they even turned 30 years of age. And with their passion, innovative thinking, and entrepreneurial spirit have made their mark on the Indian retail scene. Here we feature six such young leaders in alphabetical order, who today are leading thriving retail businesses.
- Anubhav Dubey, founder, Chai Sutta Bar
With a vision to revolutionize the concept of chai (tea) in India, Anubhav Dubey embarked on his entrepreneurial journey and established Chai Sutta Bar in 2016, when he was around 20 years old. The brand quickly gained popularity for its youthful ambience, and the variety of tea blends it offers that are infused with unique flavours and served in quirky utensils. Under his leadership, the brand has expanded its presence across multiple cities in India, becoming a go-to destination for tea enthusiasts.
Today, Chai Sutta Bar offers not only a wide range of tea options but also delectable snacks and quick bites to complement the tea-drinking experience. Chai Sutta Bar’s new stores are spread across Uttar Pradesh, Gujarat, Rajasthan, Punjab, Maharashtra, Tamil Nadu, and Haryana and have launched 61 new stores so far in the first quarter of 2023.
Chai Sutta Bar recorded a revenue of Rs 10 crore in financial year (FY) 2022 while its franchisees reported revenues in excess of Rs 150 crore, according to media reports. Its EBITDA has increased by 188.10 % over the previous year with its book net-worth increasing by 194.59 %, as per a report by Tofler.in
It is estimated that Anubhav Dubey’s net worth is around Rs 10 crore, according to a report by DNA.
- Manish Chowdhary, co-founder and chief executive officer, Wow Skin Science
Manish Chowdhary co-founded Wow Skin Science in 2013 when he was around 29 years of age with his brother Karan Chowdhary. They aimed to provide consumers with natural and chemical-free skincare and haircare products.
Wow Skin Science offers a wide range of products infused with natural ingredients and is popular among customers seeking organic alternatives. The brand emphasizes sustainability and cruelty-free practices. Wow Skin Science’s products are available online as well as in various retail stores across India.
A Financial Express report stated that WOW Skin Science’s products are available across 45,000 stores in India and more than 3,000 Walmart retail stores in the United States.
With a valuation of $280 million, Wow Skin Science’s operating revenue grew 3.4X to Rs 340.4 crore in FY 2022 from Rs 99.8 crore during financial year 2021 as mentioned in the audited annual financial statement filed with the Registrar of Companies (RoC).
- Neha Kant, co-founder and chief executive officer, Clovia
Neha Kant co-founded Clovia at the age of 29 in 2013 with Pankaj Vermani and Aditya Chaturvedi. They identified a gap in the market for comfortable and stylish lingerie and aimed to provide women with options that were not only fashionable but also affordable.
Clovia offers a wide range of lingerie, including bras, panties, nightwear, and activewear, focusing on comfort, quality, and inclusivity. The brand has been successful in capturing a significant market share and has expanded its presence both online and offline. Its products are available in 47 EBOs, over 250 multi-brand and big format retailers, and more. At present, it offers more than 6,000 product types in approximately 900 cities across India.
According to a report by Tech Crunch, the valuation of Purple Panda Fashions, Clovia’s parent company, stood $43.3M as on 04 January 2021. Moreover, the company experienced a significant 67% increase in revenue during the fiscal year 2022 with 60% of its business coming from Tier II and III towns. In March 2022, Reliance Retail acquired a majority stake of 89% in Clovia for Rs 950 crore.
- Prabhkiran Singh, co-founder and chief executive officer, Bewakoof.com
Born in 1990, Prabhkiran Singh started Bewakoof.com at a very early phase of his life in 2012 when he was 22 years old with his college friend Siddharth Munot. They began by selling personalized t-shirts and gradually expanded their product range to include trendy and quirky apparel for men and women. With its focus on affordable prices and unique designs, Bewakoof.com quickly gained popularity among the youth.
The brand offers a wide range of fashion products, including t-shirts, dresses, joggers, and mobile accessories, catering to the fashion needs of the millennial and Gen Z audience.
Today, Bewakoof is a Rs100 crore apparel brand with a valuation of $63.4M as on 13 April 2022. Its last funding was in December 2021, when the company raised $6.92M in a Series B round. According to Entrackr.com, the brand’s operating revenue increased 25.7% to Rs 160.46 crore in FY 2022 from Rs 127.68 crore in FY 2021.
- Shubhra Chadda, co-founder and chief executive officer, Chumbak
Shubhra Chadda founded Chumbak in 2010 along with her husband Vivek Prabhakar, when she 27 years old. What started as a small souvenir store has now become a popular lifestyle brand known for its vibrant and quirky products.
Chumbak offers a diverse range of products, including home decor, accessories, apparel, and gifting items, all featuring a distinct Indian design aesthetic. The brand has expanded its presence through its retail stores across India and an online platform, attracting customers with colourful offerings.
Chumbak’s revenue from operations increased 29.6% to Rs 65.84 crore in FY 2022 from Rs 50.8 crore in FY 2021, according to the company’s annual financial statement.
- Vineeta Singh, co-founder and chief executive officer, Sugar Cosmetics
Vineeta Singh, along with co-founders Kaushik Mukherjee and Deepika Gehani, started Sugar Cosmetics in 2015 when she was 29 years old. They aimed to disrupt the beauty industry by offering high-quality makeup products at affordable prices. Sugar Cosmetics gained popularity with its extensive range of makeup products, including lipsticks, foundations, eyeshadows, and more.
The brand focuses on diverse shades that cater to different skin tones and has become a favourite among makeup enthusiasts in India. Sugar Cosmetics has expanded its presence through both online and offline channels. It is present in over 45,000 retail outlets.
In FY22 Sugar Cosmetics posted a revenue of Rs 222 crore with a 75.6% increase in topline. It has raised a total funding of $86.1 million over nine rounds, according to tracxn.com. While its first round of funding was on 1 Jun 2013, its latest was an Angel round on 13 March 2023 for $610,000, lead by Anupam Mittal, Aman Gupta, Namita Thapar, Peyush Bansal and Amit Jain.