ARTICLE AD BOX
New Delhi: People imagine entrepreneurs with years of corporate experience or a business degree when they think of successful entrepreneurs. However, for Managing Director and Founder of Indus Valley, Shyam Arya, it all started in a lab, not a boardroom.
Arya’s academic upbringing was steeped in chemistry and biotechnology, and he was engaged in scientific research much of the time and nearly finished his PhD. But one opportunity brought a change in his life. He stumbled upon a commercial research and testing lab in Faridabad that was for sale owned by a businessman. Arya did not want to pursue his PhD, and instead, purchased the lab and constructed something for himself.
Hindsight being 20/20, he says it was a purely personal choice. No pressure in the family. He finished almost 75 percent of his doctoral studies, but he felt one needed to concentrate on building a business. Instead of balancing both options, he prefered opting for entrepreneurship as he felt it would provide him with an opportunity to make something meaningful within a scientific field.
This came down to a decision that eventually resulted in the birth of one of the most popular natural hair colour brands in India.
Heirloom When Natural Hair Colour Wasn’t Popular
Natural and organic beauty products are the trend these days. Global market studies indicate that the growth of the natural and organic personal care product market will remain steady in coming years, as consumers have growing preferences for safer and chemical-free products. However, two decades ago, it wasn’t easy to convince the masses that natural hair colour might just be possible.
In the late 90’s, Arya saw there was a lot of interest in the use of chemicals in traditional coloring methods. Hair damage, scalp irritation, allergies and other side effects experienced by many. His team didn’t see these problems as insurmountable, however, but an opportunity to create a safer alternative.
Over the years many studies subsequently took place. Hundreds of herbs and natural ingredients were tested and a few were chosen from them that had colouring quality as well as conditioning properties. This led to the development of 100 percent natural hair colour system, which was the world’s first to be developed, as said by Indus Valley.
Leaving this aside, the first commercial shipment of the product was shipped to the United States, a market where people were already looking for a healthier alternative. Arya thinks that the brand won its trust from the customers not by marketing, but by the actual use of the product.
His personal best wasn’t even a new beauty product by any means. It was shifting the perception that synthesized products are superior to natural.
The event that led to a change in everything.
As is true of most business owners, Arya’s most valuable lessons have been learned in challenging times.
It is reported that the global financial crisis had a negative impact on businesses all over the country and also on Indus Valley’s business which reportedly dropped by almost 80 percent in 2008. Arya and his team did not try to find fault with market conditions but did have a meticulous look at what was wrong.
They realized that they had to rely on developed markets like United States and Japan. Another was their strong dependence on private label production — making products for other brands and not selling under their own name.
Rather than giving up, they completely changed their strategy. They have rolled out into new markets across India, Middle East and Asia and also invested in brand building activities for Indus Valley.
Now Arya views that period as one of the toughest decisions that the company had to make in its history. What began as a means of survival eventually turned into a vision to build a trusted brand around the world.
Science Before Marketing
In the modern era of the beauty industry, a powerful branding and social media campaign can generate some attention very quickly. But, according to Arya, marketing is not enough for the long-term success of a business, particularly in technical products such as hair colour.
He states that colouring hair is a complicated chemical reaction that occurs on the hair and scalp during application. Hair colour is different from so many cosmetic colors that simply “blend the mix”.
Arya says marketing can get customers to buy a product the first time but once the customer is in, its quality and performance are key to the next purchase. That’s an example of the reason why he thinks science and business should cooperate and not compete with one another.
While the “Clean Beauty” Trend has caught hold, it’s not confined to it.
Today, “clean beauty” joins a host of marketing buzzwords that have inspired the beauty industry over the years: “natural,” “herbal,” “cruelty-free,” and “clean beauty.” Arya feels that many companies change their labels and make no significant improvements in their products.
Instead, he designs each of his formulations, using certified organic ingredients wherever possible and scientifically tested safer alternatives when they are not available, and urges businesses to do the same.
He further thinks that consumers today are growing more educated. Thanks to the information at their fingertips online, buyers are now more concerned about the list of ingredients, the quality of the product, and transparency.
This is a challenge and opportunity for brands. Businesses that have only a marketing department may have a problem keeping customers and maintaining their confidence, but businesses that truly strive to enhance their offerings will have a better chance of developing a trustworthy and lasting relationship with their customers.
Lessons for Entrepreneurs
Arya’s motto has always been ‘Work hard, work smarter and stay alert’ as he has followed it throughout his entrepreneurial journey.
These are not empty words for him. Fostering discipline through hard work, and taking care to prioritize some smart work and your attentive mind, means that entrepreneurs can uncover opportunities and find solutions to problems before they become a major hassle.
That is best exemplified by the company’s comeback that followed the 2008 crisis. Instead of passing on the failures, Indus Valley turned one of the most difficult times ever into a stepping stone for success and future growth.
English (US) ·