We aspire to build 'need based' products, says founder of Indibni
Updated: Dec 18, 2015 05:19:05pm
New Delhi, Dec 18 (KNN) Enwrapped with quite a unique name, Indibni, a design consultancy venture has drifted apart from mainstream gift based start-ups delivering a unique essence of familiarity and connection in the formulated gift products. In a brief conversation with Nitin Jain, the Co-founder of Indibni, KNN trailed down the journey of the creation of this enterprise.
Submerged into designing, Indibni is primarily renowned for its unique and innovative gift products. “Every product we build has a different story behind it. The product is made based on highly prolific research,” the founder told us.
“The buyer and the person for whom the gift is being processed, both can feel the connection to our product,” he added further.
About the name of the enterprise, ‘Indibni’, Jain said t is an ambigram (mirror image) of the word ‘indi’. He pointed that there are three I’s in the name which signifies India, Innovation and Individuality. The Jaipur-based start-up in the gifting space embraces themes and ideas pertaining to Indian culture, justifies the relevance of ‘India’ abbreviated for ‘I’.
The start-up is not tangled into trading, as quoted by the founder. “We basically design the product, manufacture the product based on extensive research and then sell it on different platforms,” Jain said.
“During our research for the product, we look into the relation and the purpose we are building the product for,” he said stating the example of one of the products they offer, named ‘mammi-da-dhaba’ build specifically for mothers.
Indibni isn’t a believer in marketing their products, in spite of the tough competition in the market of gift-based products. The founder claims to use natural raw materials rather than importing cheap resources from China. Its USP lies in adding utility and personalization to every gift that is created.
On the business front and the turnover, Nitin adds, “Our annual turnover is in seven figures, and till now Indibni is a self-sustaining business. As we have passed our initial phase, we have a promising and effective business model. From here-on we want to move fast, with presence in both the offline market as well as the International market.”
The venture is still bootstrapping as the co-founder told us. “We are still a boot strapping firm and not in liquidity. The problem with such ventures is that they are not able to produce much and thus not able to sell much,” he said adding “We have enough design but we are producing in limited quantity”. The entrepreneur told us that the venture is looking forward to raise funds from the right investors – experienced groups who can also mentor them in increasing their market share.
The team of Indibni comprises of lesser but talented and well accomplished members. Apart from the three co-founders, Nitin Jain, Ankit Jain and Khushbu Mathur, 9-10 members comprises team , some of which are hired on project basis. In total, Indibni has a team of 12 members.
As of now, the enterprise has limited number of products. But as per the plans for the further development of the company, the venture is scheduling to develop many new types of merchandise which are trending in the market these days. “We are aspiring to widen our product catalogue- taking those which are popular these days, for example, customized mobile skin. We are basically trying to create need based products which will require extensive research. Thus, we are also looking forward to set up a research unit for our team” the co-founder uttered. The start-up is also looking forward to collaborating with some giant retailers in future, keeping in mind the increasing E-commerce trend in market.
“The major portion of gifting market in India is in the offline stores – it’s almost 75 per cent of the whole gifting market. We are also aiming at expanding to Tier1, Tier 2 cities, as well as overseas,” he said.
The founder is contented with the government’s effort to enhance the SME sector and the start-up ventures. “People, these days, are not hesitant in investing into the new projects. The banks are also being supportive in lending for investment purposes” he concluded. (KNN/ Jyoti)
Submerged into designing, Indibni is primarily renowned for its unique and innovative gift products. “Every product we build has a different story behind it. The product is made based on highly prolific research,” the founder told us.
“The buyer and the person for whom the gift is being processed, both can feel the connection to our product,” he added further.
About the name of the enterprise, ‘Indibni’, Jain said t is an ambigram (mirror image) of the word ‘indi’. He pointed that there are three I’s in the name which signifies India, Innovation and Individuality. The Jaipur-based start-up in the gifting space embraces themes and ideas pertaining to Indian culture, justifies the relevance of ‘India’ abbreviated for ‘I’.
The start-up is not tangled into trading, as quoted by the founder. “We basically design the product, manufacture the product based on extensive research and then sell it on different platforms,” Jain said.
“During our research for the product, we look into the relation and the purpose we are building the product for,” he said stating the example of one of the products they offer, named ‘mammi-da-dhaba’ build specifically for mothers.
Indibni isn’t a believer in marketing their products, in spite of the tough competition in the market of gift-based products. The founder claims to use natural raw materials rather than importing cheap resources from China. Its USP lies in adding utility and personalization to every gift that is created.
On the business front and the turnover, Nitin adds, “Our annual turnover is in seven figures, and till now Indibni is a self-sustaining business. As we have passed our initial phase, we have a promising and effective business model. From here-on we want to move fast, with presence in both the offline market as well as the International market.”
The venture is still bootstrapping as the co-founder told us. “We are still a boot strapping firm and not in liquidity. The problem with such ventures is that they are not able to produce much and thus not able to sell much,” he said adding “We have enough design but we are producing in limited quantity”. The entrepreneur told us that the venture is looking forward to raise funds from the right investors – experienced groups who can also mentor them in increasing their market share.
The team of Indibni comprises of lesser but talented and well accomplished members. Apart from the three co-founders, Nitin Jain, Ankit Jain and Khushbu Mathur, 9-10 members comprises team , some of which are hired on project basis. In total, Indibni has a team of 12 members.
As of now, the enterprise has limited number of products. But as per the plans for the further development of the company, the venture is scheduling to develop many new types of merchandise which are trending in the market these days. “We are aspiring to widen our product catalogue- taking those which are popular these days, for example, customized mobile skin. We are basically trying to create need based products which will require extensive research. Thus, we are also looking forward to set up a research unit for our team” the co-founder uttered. The start-up is also looking forward to collaborating with some giant retailers in future, keeping in mind the increasing E-commerce trend in market.
“The major portion of gifting market in India is in the offline stores – it’s almost 75 per cent of the whole gifting market. We are also aiming at expanding to Tier1, Tier 2 cities, as well as overseas,” he said.
The founder is contented with the government’s effort to enhance the SME sector and the start-up ventures. “People, these days, are not hesitant in investing into the new projects. The banks are also being supportive in lending for investment purposes” he concluded. (KNN/ Jyoti)
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