Riveting Tale Of Mama Earth

Riveting Tale Of Mama Earth

Here are life partners turned parents turned business partners – the Alaghs who founded Mama Earth. Let’s look at their growth story of making it a ₹500 Crore Brand.

Crux of the Matter

The Birth Story
When in 2016, the duo Ghazal & Varun Alagh failed to find any safe products for their newborn, it left them not just worried but heavily disappointed. Well, it was the same disappointment that led these parents to turn into entrepreneurs & started the venture, ‘Mama Earth’.

About Mama Earth
It’s the first Indian company to have toxin &  chemical-free products made entirely from natural ingredients. The aim is to reduce parental stress by perennial improvement & innovation to their products.  Headquartered at Gurugram.

Founders
Ghazal Alagh (Chief Mama)
Previously a corporate trainer now heads a team of 200 moms that looks after the product cycle – right from ideation to conceptualization to final launch.

Varun Alagh (Chief Dad)
Known for the brand management expertise in the FMCG industry, he has previously worked with Coca Cola & Hindustan Unilever.

What Is So Different?
Mama Earth is Asia’s first brand to get the MadeSafe certification for its toxin-free products. The raw materials they use are:

  • ISO certified
  • Compliant with Good Manufacturing Practice (GMP)
  • Not genetically modified

Winning Pointers
Targeted to young parents – connected with 500 mom bloggers. Lean Innovation Cycle:

  • Focused to introduce, learn and scale up the successful products quickly.
  • Allows customization of products.
  • Makes them more market-relevant.

The Success Ladder
Grew at more than 400% in previous FY, touching ₹500 crore mark in less than four years of its inception. It was also among the fastest-growing Indian companies.

New Product Developments
While Mama Earth uses natural ingredients, Derma Co employs scientific methods. Prescribes Advanced Clinical Formulations through the usage of AI to solve skin problems.

Challenges

  • Cutthroat competition from mighty FMCG brands when opting for physical presence.
  • Providing high quality, safe products at a reasonable price.
Curiopedia
  • Made Safe provides comprehensive human health and ecosystem-focused certification for nontoxic products across store aisles, from baby to personal care to household and beyond. The MADE SAFE seal literally means that a product is made with safe ingredients, without toxic chemicals known to harm our health.
  • Mamaearth plants a tree for every order placed on its website. The process is carried out with the help of the SankalpTaru Foundation, an IT-enabled NGO. Till now, Mamaearth has planted more than 55,000 saplings. (https://mamaearth.in/plant)
  • A toxin is a harmful substance produced within living cells or organisms. The term was first used by organic chemist Ludwig Brieger, derived from the word toxic.

Trivia Thursday: 7 Forgotten Apple Products

Trivia Thursday: 7 Forgotten Apple Products

As yesterday was the 66th birth anniversary of Steve Jobs, in this week’s Trivia Thursday we look back to 7 products by Apple which did not take off. This will also give us a possible glimpse behind what influenced Jobs’ design towards all the Apple products, and his personal fashion too.

Crux of the Matter

In this week’s Trivia Thursday, let us have a look at some of the forgotten products launched by Apple.

Macintosh Bashful (1983)
This was a tablet prototype dedicated to one of the 7 Dwarfs from Disney and Apple’s “Snow White Industrial-Design Language”.

Apple Clothing (1986)
One year after Steve Jobs resigned as the chairman, the company launched a line of Apple-branded clothing, accessories, and lifestyle items.

Apple Time Band (1991)
Featured in Japanese magazine Axis, it resembled the personal digital assistant, Apple Newton, worn on a wrist.

Adjustable Keyboard (1993)
It had the ability to split in half for better ergonomic typing.

iPod Socks (2004)
Apple sold them in 6 catchy colors as the iPod protector.

iPod Hi-Fi (2006)
Apple designed this speaker system, specifically for the iPod.

Flower Power iMac
It was a throwback edition to Steve Jobs’ hippie roots in the late ’60s and early ’70s.

Job’s Koumpounophobia
Steve Jobs suffered from koumpounophobia (phobia of buttons). Some have speculated that his condition influenced the trend towards touch screens and virtual keyboards in the design of Apple devices.

Take a look at our last week’s Trivia Thursday here: Quirky Things About Bitcoin

How Does The PLI Scheme Work?

How Does The PLI Scheme Work?

Known to avail a major boost to GOI’s goal of Aatma Nirbhar Bharat, let us understand what the PLI scheme is all about.

Crux of the Matter

What Is It?
Production Linked Incentive Scheme (PLI) was introduced by GOI in March 2020 and it aims at:

  • Making India a Manufacturing Hub.
  • Increasing Foreign Investments
  • Managing Trade Balance.
  • Lifting Standard of Living through expanding employment opportunities.

How Does It Work?
Incentives are based on investment & targeted increments in production.

For example, a firm manufactured 2,000 units in FY 19 -20. Now in 2020 -21, if production increases to 3,000 units., then the incentives applicable will be between 4% – 6% on the incremental 1,000 units produced.

Eligibility

  • Should be an Indian manufacturing company.
  • Companies having a registered production unit in India are eligible.
  • Firms can either set up a new unit or demand PLI for existing ones.
  • Applicable for 5 years – FY 19-20 to be considered a base year.

Sector Wise Allocation

  • Mobiles & Electronic components – ₹40,951 crore
  • Critical drugs & API’s – ₹6,940 crore
  • Medical devices – ₹7,420 crore
  • ACC battery – ₹18,100 crore
  • Electronic/technology products – ₹5,000 crore
  • Automobile & components – ₹57,042 crore
  • Pharmaceutical drugs – ₹15,000 crore
  • Telecom and networking products – ₹12,195 crore
  • Textile products – ₹10,683 crore
  • Food products – ₹10,900 crore
  • Solar PV – ₹4,500 crore
  • White goods (ACs and LEDs) – ₹6,238 crore
  • Specialty steel – ₹6,322 crore

The Hitches

December 2020
Apple Manufacturers, Samsung, Lava, Micromax asked the GOI to roll over the production targets under PLI because of their inability to meet the same.

October 2020
Even after 2 months of announcing the PLI scheme, the applicants were yet to receive the formal letters, striking uncertainty.

Curiopedia
  • The inverse of a bonus payment, that is when base salaries shrink on poor performance, is called a malus.
  • The term clawback or claw back refers to any money or benefits that have been given out but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract.
  • Performance-related pay is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. A fundamental criticism of performance-related pay is that the performance of a complex job as a whole is reduced to a simple, often single measure of performance.

The Winning Formula Of Balaji Wafers

The Winning Formula Of Balaji Wafers

From making wafers in a 1 BHK home to being an industry leader in western India, Rajkot-based Balaji Wafers have a worthy success story to tell. In this story, we will read about the inspiring story of Virani Brothers – the family behind the iconic Balaji Brand.

Crux of the Matter

Overview
The Virani Brothers started Balaji Wafers in 1982, Rajkot.

Product Includes

  • Wafers
  • Noodles
  • Extruded Snacks
  • Namkeens
    (They have over 50 odd varieties)

Dominance In:

  • Gujarat
  • Maharashtra
  • Madhya Pradesh
  • Rajasthan

Finding Balaji

  • 1974: The Brothers trio shifted to Rajkot with ₹20,000. Failed at running an agriculture product business. joined Astron Cinema’s Canteen.
  • 1981: With the growing demand for wafers & getting a contract to run the canteen, the trio decided to make homemade potato chips named Balaji.
  • 1995: Extending the product offerings, it became a Private Limited firm and set up a fully automated plant in Rajkot
  • 2002: Set up a new state-of-the-art manufacturing plant in Rajkot and began distribution in Rajasthan and Maharashtra.
  • 2015: Set up Indore plant for serving Northern & Western India.
  • 2020: Had 59 products, 120 SKUs, dealer count of 1,000, and clocked revenue of ₹2,374 crores.
  • The second generation of founders is gradually taking over the business.

The Differentiating Factor
Adamant on not selling the company to MNC Goliaths even at an offer quadruple its revenue in 2014.

“If they thought they could intimidate me with their size, they were wrong.”

Chandubhai Virani, Founder & Director, Balaji Wafers

  • Followed a fixed pattern of progressing in one area at a time.
  • The aim was to bring happiness to stakeholders and not run after targets (although they never had one).
  • Strict adherence to the Philosophy “Profit doesn’t gives you business but business gives you profit

Road Ahead

  • Challenging to become a pan-India player.
  • Compete with not just global but local variants of the products.
  • Expanding an efficient distribution syWaf

Curiopedia
  • Lord Venkateshwara is a form of the Hindu god Maha Vishnu. Balaji is one of the many names of Lord Venkateshwara.
  • The global potato chip market generated total revenue of US$16.49 billion in 2005. This accounted for 35.5% of the total savoury snacks market in that year ($46.1 billion).
  • The earliest known recipe for something similar to today’s potato chips is in William Kitchiner’s book, The Cook’s Oracle published in 1817, which was a bestseller in the United Kingdom and the United States. Early recipes for potato chips in the US are found in Mary Randolph’s Virginia House-Wife (1824) and in N.K.M. Lee’s Cook’s Own Book (1832), both of which explicitly cite Kitchiner.

Trivia Thursday: Quirky Things About Bitcoin

Trivia Thursday: Quirky Things About Bitcoin

Did you know that Bitcoin mining consumes more power than it is used to power the whole of Argentina? Well, with Bitcoin breaching the $51,000 mark, and cryptocurrencies like DogeCoin soaring at all-time highs, in this week’s Trivia Thursday, let’s have a look at some interesting trivia like that around the “King of Cryptos” Bitcoin.

Crux of the Matter

In this week’s Trivia Thursday, let us have a look at quirky things about Bitcoin.

Let’ start by taking a look at the market cap of Bitcoin in comparison with a Nation’s GDP and companies:

Power Consumption
Mining for cryptocurrency is a power-hungry affair, involving heavy computer calculations to verify transactions. Cambridge researchers say it consumes around 121.36 Terawatt-hour (TWh) a year. And is unlikely to fall unless the value of the currency slumps. 

Bitcoin is now among the world’s top 30 energy users. It consumes more energy than used to power whole of Argentina.

Lost Bitcoins
Research shows that at least 60% of all Bitcoin addresses are ghosts, which means a huge chunk of the people using Bitcoins have lost their addresses and have no way to access their wallets. 

Stefan Thomas, a German-born programmer living in San Francisco, has 2 guesses left to figure out a password that is worth, as of this week, about $220 million. And this is one of many such cases.

National Currency

  • Liberland, officially the Free Republic of Liberland, is a micronation claiming an uninhabited parcel of disputed land on the western bank of the Danube, between Croatia and Serbia. 
  • It was proclaimed on 13 April 2015 by Czech right-libertarian politician and activist Vít Jedlička. The official currency of Liberland is Bitcoin.
  • The govt believes that blockchain provides a secure and transparent method for recording electronic, financial, and physical assets.

Unit Of Bitcoin
As a sign of respect for Bitcoin’s creator(s), the smallest unit of a bitcoin is known as a satoshi. The satoshi to bitcoin ratio is 100 million satoshis to one bitcoin.

Take a look at our last week’s Trivia Thursday here: Iconic Super Bowl Advertisements.