How a housewife built a Rs 10 Cr business from an investment of Rs 50,000

The year was 2010. Jyoti Wadhwa, a Delhi housewife and a mother of a two-year-old girl, found herself in a “confused state” when her husband Anshul Bansal, the only earning member of the family, came back home one day and said he wanted to quit his job as an investment banker and do something on his own. Jyoti realized that given the risk her husband was about to take, she needed to start contributing financially as well.

 

Finding her way During the course of her research, Jyoti found that printed pure silk fabrics were in demand and started searching for them.

 

The first-time entrepreneur then selected some items and uploaded them on eBay. And Sanskriti Vintage was born. In the beginning, trying to figure out how to list and describe products online seemed challenging, but she soon got the hang of things. Being in the export business without any staff in the early days meant that Jyoti had to do the shipping from the postal services herself, standing in queues with her young daughter for three-four hours.

She explains, “What also helped set us stand out was the fact that nobody was really investing in products at that time. People would acquire old silk sarees, take photos and sell, earning a low margin. They’d buy at Rs 400 and sell for Rs 600. I realized that we can’t play the price game and thus decided to play the premium game. We picked out the most beautiful stuff, which was more expensive. invested in good photography, lights, and a DSLR camera at a time when other sellers were using 2-megapixel phone cameras.”

 

Since Sanskriti started on the eBay platform, they had no marketing spend. Jyoti focused her energies on optimization of listings and figured out how to get on top of them. She was soon selling 500-600 sarees in the range of $15-$40 per piece a day, with a 10-15 percent net margin. Soon, she managed to capture 40-50 percent of the market.

Taking a new route However, after three to four years the eBay market plateaued. “We got to the top and then there was nothing. We then listed on Amazon.com in 2013 (it was not in India yet). We experimented and realized that it was not the platform for our existing products. And that led to us starting a new range of apparel and fashion jewellery,” Jyoti says.  When Amazon launched in India, Jyoti launched her fashion jewelry line called Zephyrr, which soon became a “best seller” on the platform.

In 2015, Jyoti received the Niryat Shree award from the President of India. It is an award that is given to 50 chosen exporters every two years for excelling in exports from India. Sanskriti is now present on almost all ecommerce platforms, exporting its products across the globe. The woman who wanted to contribute to the family kitty has done that and more!

Credit: YourStory

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