Handicraft has been a widely enamored and respected art form since time immemorial. It is said that the people who have crafting in their blood are the masters of this art. India is world-renowned for its art and craft. A plethora of artistry and artisans can be found in the various states and provinces of this country.
Founded by Mr. Palash Agrawal, Vedas Exports is one of the renowned exporters of handicrafts. Providing the most exquisite quality handcrafted goods from traditional to modern abstracts, this company aspires to be a paramount dealer of this art in the international market.
Vedas Exports - Company Highlights
- Startup Name-Vedas Exports
- Headquarter-Ranchi, India
- Sector-Handicrafts & Decor
- Founder-Palash Agrawal
- Founded-July 2014
About Vedas Exports and How it Works
Vedas Exports is one of the renowned exporters of handicrafts. Providing the most exquisite quality handcrafted goods from traditional to modern abstracts, this company aspires to be a paramount dealer of this art in the international market. Vedas Exports believe that beauty is a combination of both the internal and external qualities of daintiness and authenticity. Therefore, all the artifacts are created with a steep approach towards quality management.
Handmade bags, paintings, woodcraft, t-lights, and artifacts made of bell metal and wrought iron are the masterpieces that the company is proficient in supplying. Its focus is to bring excellence in the work and feel privileged to offer a wide range of aesthetic handicrafts and home decor to valuable customers in any corner of the world. Designs, values and ethics - these are the three priorities, Vedas vouches for in the market.
Vedas products - Arindam Tree and Wall art
"Our vision is to reach every single town and each seller dealing in décor. We wish to make every house, restaurant, hotel, etc. display at least one piece of décor from Vedas, in our aim to make India self-reliant and not import handicrafts or décor items from abroad", says Palash Agrawal, founder of Vedas Exports.
Currently the company operates in the B2B module, by supplying to the offline branded stores and currently due to the current situation also selling their stuff online through various modules like social media and online e-commerce platforms. But its mission is to create 60 offline stores by next year, in both franchise and own store modules.
Vedas Exports - Target Market Size
So far, Vedas Exports is present in 700+ stores across India and 500+ stores abroad. While its market share is currently in the range of 7-9% across India, the company's target is to reach 40% within the next 2 years. With the current pandemic-led lockdown making people stay and spend more time within the confines of home, we expect a growth in demand for décor and a bigger market in times to come.
How was Vedas Exports Started?
Having spent 8 years in boarding school and the United Kingdom for his undergraduate and postgraduate studies, Palash has been away for quite a long time. Yet, belonging to business family meant business was in his genes, while he always aspired to do something very different and contribute to society.
"My father has been my inspiration in my idea of exploring the world of décor, to start my own brand Vedas Exports and etching a strong foothold in the market. Initial days were tough though, and we used to hit and try many products from different states in India. But traveling across the globe made me realize that we can transform ancient décor in a blend of modernity and market the same. I remember selling just one piece in the first month of starting my factory. Today, we are selling above 10000 pcs per month and run a complete unit, based in Jodhpur", recalls Palash when talking about how Vedas Exports was started.
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Vedas Exports - Name, Tagline, and Logo
As the team was aiming to relate ancient décor to its modern versions, Vedas was a perfect choice. The name that stands for the Vedic era rightly reflects the aura of the ancient traditions and richness of heritage. They also wished to add a modern and corporate flavor to it. Thus, the logo bears a blending of old and new and is vibrant in color choices.
Vedas Exports - Product/Services
Vedas Exports is mainly into décor, and have Wall Décor, Wall Shelves, Mirror, Table Décor, Showpieces, Hooks, Vases, office décor, Wall Jali, etc in its platter. While the company offers readymade choices of items, it also customizes products according to customer needs and preferences. You think of a product and the company will create it for you.
Vedas Products - Atha Mirror and Marsh Tin Wall Decor
The use of lead-free paints, powder-coated, and rust-free products are the features that make this brand stand out in the crowd. The team doesn’t believe in replicating the already available styles and designs and launch new products every two months. All the products are handmade and crafted to perfection.
"We aim to make our products for the masses and thus prefer keeping the price point intact always. We develop our products according to market trends and follow trending colors. Our team has a very good R&D wing, that travels across the globe seeking fresh designs, trend, and pricing opportunities", says Palash Agrawal.
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Founders of Vedas Exports and team
Mr. Palash Agrawal is founder of Vedas Exports. Vedas Exports is a family-run company. Palash has his dad (Mr. Pawan Kr Agrawal) as a co-founder and he has always been the mentor and source of inspiration for the company. The company now has around 110 people working with it, which induces artisans and office employees.
Mr. Palash Agrawal
The team is a combination of fresh start-up persons and some experienced people on the job. The team has designers from NIFD and NIFT who plan and enhance the products. They also have freshers on their marketing and e-commerce business. The reason why they hire freshers is that they are ready to face new challenges and output is very much high. The team also has a brand manager who is very much experienced and good knowledge of the planning is provided by him.
"We ensure and endorse a very strong work culture in our office in terms of ethics, teamwork, freedom of functioning, and no interference. So, we have a happy set of people working with us, who consider the office as their second home and work together as one big family", says Palash about the work culture of the company.
Moreover, Vedas Exports follow international standards of health and safety norms across the office and in its factories. Till now, 98% of the team was right there with the company from the start of the journey. The startup believes in the experiences and efforts it puts into raising an employee. This is important as if once the person leaves the organization, the company goes back at least 6 months in terms of experience, to teach his work to a new employee.
Vedas Exports - Business Model and Revenue Model
Vedas Exports operate in four different business models -
B2B (Business to Business) - Supply to many stores directly and they sell Vedas's products.
B2C (Business to Customer) - Directly interact and sell products through the website and social media pages.
Via E-commerce platforms - Products are available on e-commerce platforms and portals like Pepperfry, Amazon, Flipkart, etc.
Through customization - Customize and create products according to the clients’ style, needs, and preferences.
For the export of goods, the company works through direct stores, importers, and buying agencies. Vedas Exports' revenue is generated from the sale of products through the various channels it operates in. The startup is bootstrapped and has no borrowing from anyone so far.
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Vedas Exports - Startup Launch
"Getting the first 50 customers was the biggest hurdle. We had our products but our journey was initiated in the online portal only. At that time, our marketing skills were not very strong and hence our efforts weren’t paying much. So, we started organizing small exhibitions across the country to build the customer base. It took us around 6 months to reach that point and get our first 50 customers", recalls Palash Agrawal about launching Vedas Exports.
Vedas Exports - Growth
Considering the last six months’ journey, the company's functioning has taken various paths. Being a new brand in the market, it’s not an easy task to have a strong footprint, especially when the decor industry is not very organized in terms of branding and sales. The products are completely handmade, and hence settling is an issue. Sometimes the startup face a lot of issues regarding its pricing, shipping costs, etc.
Vedas Products - Basket Cycle and Bayon
But the exhibitions the company already organized and the client meetings the team have attended have made them realize the demand for their products and the praise for its quality. Thus, the team readily understood that it can survive in the market if its back end is strong enough. So, the company focused on making distribution and dealer channels wide and strong, so that on-ground sales pressure is less and it can concentrate more on designs and packaging of the products.
Currntly, the company has visibility in more than 300 cities across India and 15 countries across the globe. Every year, it supply to more than 20,000 end customers from its warehouses. Riding on the success rate of the past three years, it is now present in India's top superstores including Hometown, Evok, Shopperstop, Royaloaks, Starmarks, Pepperfry studios, etc. It has reached the profit center as well, after the third year of operations.
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Vedas Exports - Startup Challenges
The main challenge was building up the trust and making a big customer base. The second biggest challenge was keeping the set of artisans intact. The company was in the initial stage of business back then and orders were few, thus forcing it to assign basic work for them every day and get the work going. It also used to participate in many shows abroad with a very low success rate at that time. Hence, the team relied mostly on reverse engineering to stay afloat and improvise its products.
Vedas Exports - Funding and Investors
So far, Vedas Exports has not raised any funding and its 100% stakes is owned by the founding team.
Vedas Exports - Competitors
Talking of competitors, there are many based in Jodhpur and Moradabad. But they have always been a great source of motivation and energy for the company, to work harder and spend more time on product building. The team believes competition should be healthy and wise.
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Vedas Exports - Future Plans
Vedas Exports plan to build on the franchise module and come up with company-owned stores across India, UAE, Nepal, UK. It is now coming up with furniture, as a new segment.
Vedas Exports - Founder's Advice
Our startup journey was like a roller coaster ride. It’s fun to feel that you are the boss of the organization, where you work. But at the same time, it’s you, who end up doing all the jobs too. My suggestion would be to never give up on your belief and dreams. I was thinking to close my startup after two years of operations. But my dad and brother prevented and motivated me to put the best of my efforts and sheer hard work to climb up the ladder of success. And see where we are today- all around the world with our creations.
Vedas Exports - Technology Stack
From day 1 of its journey, the team has been very organized in terms of software, ERP, and tools it uses. It has customized its own ERP system for inventory management and billing.
Vedas Exports - Recognition and Achievements
The company has given diploma on handicrafts from Russian authority on 2015, after the first year of the business.