Creating Affordable Range Of Branded Clothing - Mr. Lokesh Svwami Founder Of Rapidly Growing Brand "Coloured Collar"
Today VTV India brings you an exclusive interview of Mr. Lokesh Svwami, a brilliant entrepreneur and founder of Coloured Collar, who has taken the initiative to bring in a quality clothing product range at an affordable price. He told us that his sole aim is to dispel the deep-rooted stereotype that quality products are always expensive. He likes to live a life without boundaries. His magnificent personality takes him to new heights.
We often feel that quality and designer clothes are expensive. In India, there is a general belief that designer and quality clothing costs a lot and is not meant for the middle class or common people. This notion has been stuck in the clothing world for a long time but it has been broken by a company named ColoredCollar.com. The common goal of this e-commerce portal is to bring quality clothes at an affordable price for everyone irrespective of economic class.
VTV India recognized one of the inspiring entrepreneurial figures in India, Mr Lokesh Svwami - Founder of Coloured Collar, who has such an amazing entrepreneurial journey to tell. He has a passion for perfection and his leadership skill set as well as a pool of intense knowledge of inbound & outbound marketing.
Let's have a look at the interview session which surely makes you happy and you would love to meet this personality once in your life.
Please give a brief intro of your unique personality?
I am glad to be here for this interview. I'm Lokesh, founder of the coloured collar. I started coloured collar to provide top-notch services. I want customers to experience the best quality product at a competitive price range. In addition, I am a trainer, coach, mentor and traveller.
What inspired you to build the product "Coloured Collar"?
If I talk about product inspiration, there are many brands in India who are making good quality products but offering at premium or higher price range. Our mission is to make very high-quality products at reasonable prices. We have tried to keep our prices as low as possible. We want to win the heart of every Indian, by giving them quality products at affordable prices.
"Coloured Collar" is quite a classy term. How do you come with the name of your business?
Yes, this is a very interesting question. It took almost 6 months to decide on this name. Many names were running through our minds. So, if I talk about the hidden philosophy of the name "coloured collar" - "colour" is an essential part of our life. Our nature is made up of many colours. Colours also expand our vision power. In general, too, we are not attracted to things that are colourless. "Collar" on the other hand helps to show the identity of our brand. This indicates that the brand is all about apparel and clothing. This is how we found our business name - "Coloured Collar".
How did you raise funding for your venture?
I am proud to say that it is fully bootstrapped. I have not arranged any funding from any source. It is a completely self-made brand.
According to you, what are the three qualities individual must have to achieve success?
The first quality which I prefer is quality choice. This quality I acquired from the Mahabharata where Duryodhan & Arjun made choices between the Narayani Sena & Krishna himself. Arjuna chose Krishna over Narayani Sena, while Duryodhana chose Narayani Sena because he finds them larger in number but Arjuna was intelligent enough to see Krishna's wisdom. So what I personally think is that quality should be given more importance than quantity.
Another quality that a person should possess is strong decision making. One should make a decision after doing thorough research on the pros and cons of his decisions and stick to his decision. It should not be something that is changing frequently.
The third is transparency. There should be transparency when we are working for an organization or recruiting our team. As far as entrepreneurship is concerned, transparency becomes far more important.
How did you build a successful customer base?
I think when a customer invests their money they look for quality products no matter what the price. Hence the main strategy to build a strong customer base is the availability of quality products at affordable prices. And that's what we're doing constantly. We provide uncompromising quality services. This also gets ready your brand for mouth marketing.
Did you experience any failure, if so what did you learn from them?
Yes, I have faced many failures in my life and all because of wrong decision making. That's why I put more emphasis on taking time and strong decision making and also advise others on the same. As an entrepreneur, one must think twice while making decisions about the team and the product.
What is your life Mantra?
"KHUL KE JEEYO AND GIVE EQUAL IMPORTANCE TO YOUR PROFESSION/WORK.
Give one tip for success.
Train Yourself as much as possible to bring perfection.
A mistake that you think everyone should avoid.
Making the wrong decision - Don't make hasty decisions.
What advice would you give to somebody else who wanted to start a similar business?
I would love to give advice, when something comes to your mind as an innovation or a product you should put your customer in front of the product and analyze who I am making it for, do they really need it? who will benefit from this? And ask yourself as many questions as possible as a customer. This will help you choose the right product for the right audience.
Share any habits that you wish to change?
I'm loving the way I live my life right now, so I don't want to change anything.
Now to finish up, we always desire to know our sweet reader's response. I hope you must have enjoyed being reading this exclusive interview of Mr Lokesh, a brilliant entrepreneur and founder of Coloured Collar.