In recent years, women entrepreneurs have been making significant strides in the world of business, marking a notable shift in the traditionally male-dominated entrepreneurial landscape. This surge in women-led businesses is not merely a coincidence but a result of changing societal attitudes, increased access to resources, and the relentless determination of women to shatter the glass ceiling.

In conversation with Indian Retailer, numerous women entrepreneurs, including Vineeta Singh, Co-Founder and CEO, SUGAR Cosmetics; Priyanka Gill, Group Co-Founder, Good Glamm Group & CEO, Good Media Co; Priyanka Salot, Co-Founder, The Sleep Company; Naina Ruhail, Founder and Co-CEO, Vanity Wagon; Harini Sivakumar, Founder and CEO, Earth Rhythm; and Shaily Mehrotra, CEO and Founder, Fixderma, have opened up about their remarkable journeys, the formidable challenges they have encountered, and the path forward as they continue to leave their indelible mark on the business landscape.

Solving the Problem

The new-age brands are solving market problems by identifying unmet consumer needs, conducting thorough research, and innovating their products to meet those needs. These brands are addressing specific market gaps and consumer needs in innovative ways. For instance, Vineeta Singh recognized the makeup wear-off issue in India's tropical climate; hence, SUGAR Cosmetics focuses on creating makeup products that offer long-lasting performance. It also caters to diverse Indian skin tones by providing shades that work well for deeper skin tones, a segment often overlooked by other brands.

Meanwhile, with Vanity Wagon, Naina Ruhail tapped into the growing demand for clean and sustainable beauty products. Traditional beauty products containing harmful chemicals are losing favor among consumers who are increasingly health and eco-conscious. Hence, Vanity Wagon positions itself as India's first Clean Beauty Platform, offering safe, non-toxic alternatives to meet the needs of consumers looking for a conscious and sustainable lifestyle. Similarly, Harini Sivakumar transformed her passion for clean skincare into a business. Recognizing the demand for innovative, eco-friendly products, Earth Rhythm introduced shampoo bars and expanded its product range. The brand's focus on creating efficacious and environmentally-friendly skincare products resonates with consumers seeking sustainable and innovative beauty solutions.

Shaily Mehrotra saw a gap in the skincare market for wellness formulations that provide both dermatologic and cosmetic benefits. Hence, Fixderma was launched to cater to consumers looking for comprehensive skincare solutions to treat and nourish their skin. Offering products designed for skin health and problem-solving, it addresses the need for dermaceutic skincare in the market. Also, Priyanka Salot from The Sleep Company identified a lack of innovative mattress solutions in the Indian and Asian markets. Her commitment to revolutionizing the sleep industry led to the development of SmartGRID technology, which offers a science-backed and comfortable mattress experience. By filling this gap with cutting-edge comfort tech, the brand provides consumers with a solution to their sleep-related challenges.

Priyanka Gill conducted extensive research to identify gaps in the beauty and skincare market. By actively listening to customer feedback and monitoring market trends, she created products with POPxo that address specific pain points and desires. Her focus on clean, sustainable, and transparent beauty products aligns with the shifting preferences of consumers, providing solutions that go beyond what competitors offer.

Challenges Faced on the Entrepreneurial Journey

In the world of entrepreneurship, challenges are often regarded as stepping stones to success. However, for women entrepreneurs, these challenges can take on a unique dimension due to societal biases and expectations. Vineeta's journey with SUGAR Cosmetics has been one of determination. As a solo woman founder, she faced numerous rejections from venture capitalists. The male-dominated landscape didn't readily embrace her vision. Nevertheless, each rejection only fueled her resilience and confidence. “Each challenge paves the way for you to grow, to be resilient, to be brave, and brings forth a renewed sense of confidence,” she said.

Gill's entrepreneurial voyage has been marked by fundraising complexities and confronting unconscious biases. Despite considerable persistence, women still face gender-based biases, impacting their ability to secure investments. Statistics indicate that women raise less capital compared to their male counterparts, necessitating earlier rounds of funding. Her journey sheds light on the systemic biases women entrepreneurs contend with, emphasizing the need for change.

Harini confronted gender bias head-on as she embarked on her entrepreneurial journey. Investors' lack of trust in women and skepticism toward women-led businesses didn't deter her. She continued to advocate for her ideas, refusing to back down. Her journey exemplifies the determination needed to break through gender barriers in business. “While I realized that there was definitely more to what I was pitching for, I wasn’t ready to back down and it has led me to where I am today,” she noted.

Salot's entrepreneurial journey took her into the intricate world of mattress R&D. The technical complexities and evolving consumer demands presented formidable challenges. However, these challenges taught her the value of fostering a culture of collaboration and innovation within her organization. Through collective expertise and creativity, she triumphed over the hurdles, achieving remarkable growth.

For Naina, being a wife, daughter-in-law, and mother while co-founding Vanity Wagon presented a unique set of challenges. In a patriarchal society, women's leadership isn't always readily accepted. However, Naina's journey is a testament to the power of self-belief and determination. “The world is gradually changing and we see a lot of women achievers, leaders, change-makers being appreciated and recognized across the world,” she highlighted.

Shaily recognizes that the challenges entrepreneurs face are not exclusive to gender. However, she highlights the critical importance of assembling the right team. Shaily's hands-on approach to team-building, selecting individuals who resonate with her mission and vision, has been key to her success. Building a collaborative and dedicated team is a challenge she has overcome through personal involvement. “I personally made sure to make the team of my leaders by careful selection of talents and individuals whose can understand and work towards our mission and vision,” she asserted.

Data & Tech: The Future

In the world of D2C businesses, founders are increasingly turning to the power of data to revolutionize their marketing strategies. These entrepreneurs recognize that data is not just information; it's the key to understanding their customers, optimizing offerings, and enhancing engagement. Gill is a staunch advocate of responsible data usage. She understands that in the era of data abundance, protecting consumer privacy is paramount. With access to vast amounts of customer information, her company tailors marketing campaigns to target specific audiences, but always with a commitment to safeguarding consumer privacy and safety. “Data is not just a tool for profit but a means to gain valuable insights into consumer behavior. By utilizing customer data in a responsible manner, our brand is better equipped to inform strategies, optimize product offerings, and enhance customer engagement,” she emphasized.

Naina believes in the transformative power of data and technology. In the clean beauty and personal care industry, she understands that staying ahead means understanding customer needs. Her brand collects data through various channels, including online surveys, customer interactions, social media, and deep research and analysis. “Data is the bridge that connects us with customer behavior, market trends, and operational performance. By interpreting these data points, we can gain in-depth insights and pivot accordingly,” she highlighted.

Vineeta, too, recognizes that the customer journey goes beyond simply adding products to the cart. Her brand takes a personalized approach, segmenting and analyzing customers based on their behaviors and demographics. Whether customers leave after adding items to their cart or simply browse products, SUGAR Cosmetics crafts tailored offers that resonate with each customer. Vineeta's approach exemplifies the potential of data-driven marketing to not only drive sales but also foster customer loyalty.

What’s the Way Forward?

Talking about the future, Priyanka Gill from Good Glamm Group said that the company, in 2023, will focus on achieving profitability with scale and eventually IPO. While Vineeta envisions SUGAR Cosmetics becoming India's largest makeup brand in its category with strong fundamentals at the IPO stage. Her ambitious goal includes achieving profitability with a 70 percent growth rate by 2024, positioning the brand as the second-largest player in the color cosmetics category. “We are also aiming to gain more market share, which currently stands at 6 percent,” added Vineeta.

Naina's vision for Vanity Wagon extends beyond being a successful business; it's about making a lasting impact in the beauty industry. With a focus on sustainability, she aims to broaden the selection of sustainable products, collaborate with cutting-edge companies, and cultivate a community of conscious customers. Her goal is to drive awareness of clean beauty in India and create a future where sustainable decisions are integral to beauty and wellness.

Salot's vision for the future is characterized by expansion on a global scale. Following an impressive 400 percent growth, The Sleep Company is set for international outreach, with the goal of capturing 10 percent of the global market. “The omnichannel presence, including physical stores, is undergoing a significant expansion, with plans to establish 100 stores in major cities and Tier II regions. Additionally, diversifying the product range to include sleep accessories and seating solutions demonstrates a commitment to meeting a broader range of customer needs,” she noted.

Debunking the Myth

Vineeta's journey from HR services to beauty subscription services to SUGAR Cosmetics taught her the value of persistence and the importance of passion. She highlighted, “Gender should not be the determining factor for success in business. It's about skills, hard work, and determination. Regardless of gender, setting your sights on your goals and being passionate about solving core problems can lead to remarkable achievements.”

Naina emphatically debunks the misconception that success in entrepreneurship is gender-dependent. She stressed, “It's about skills, hard work, and determination. Success in business is not confined to a specific gender; it's open to anyone who is willing to put in the effort and persevere.”

Harini challenges the societal opinion that women entrepreneurs must choose between priorities. “In today's changing world, women are proving that they can have it all and are willing to take risks. The mindset is evolving to be more supportive of women's leadership endeavors, breaking free from traditional expectations,” she stated.

Shaily dismantles the misconception that women entrepreneurs primarily take over family businesses. She, like many others, started her brand from scratch, driven by passion and expertise. “Women are excelling in diverse fields, from travel to technology to wellness, proving that entrepreneurial success knows no boundaries,” she mentioned.

Salot rejects the idea that women entrepreneurs are limited to specific industries or relegated to support roles. She said, “Women’s strength, resilience, and ingenuity go beyond narrow expectations. Women are challenging norms and driving businesses forward across various sectors.”

Gill tackles the misconception that women entrepreneurs need to be superhuman to succeed. She calls for a reframing of the discussion around female entrepreneurship, emphasizing that success comes from skills, ambition, drive, and motivation. She concluded by saying, “Equity, in terms of resources and opportunities, needs to be a central focus to empower women in entrepreneurship.”