Parsh Kothari
@parsh_kothari
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Threads on Indian Businesses and Geopolitics | Co-Founder & CEO @thinkschoolbot
Bootstrapping Think School➡️
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Zudio killed it.
They spent 0 on ADS
They spent 0 on E-COMMERCE
They spent 0 on PRIME LOCATIONS
Yet - they earn more than ₹4,000 CRORES by selling CHEAP THINGS.
THREAD: How Tata's ZUDIO became a massive success:
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In 2004, Ferrero Rocher entered India after conquering the world
Everyone thought it'll FAIL to sell expensive chocolate in a price-sensitive market like India where Cadbury ruled
But to their SHOCK, it became the No. 1 premium chocolate here!
Why Ferrero didn't fail in India
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Royal Enfield was about to shut down in 2000.
But then, Siddharta Lal, a 26-year-old fresh out of college, did something so extraordinary.
That Eicher sells a staggering 8,45,853 Enfield motorcycles EVERY YEAR.
Here's the mind-blowing story of Royal Enfield ↓
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He is the real Sharma ji ka beta.
IIT. ISB. McKinsey. VC. And a Business worth ₹42,000 Cr whose name you don't even know.
His story is worth reading.
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In 2014, Micromax was the SECOND LARGEST mobile brand in INDIA.
Alibaba was about to invest in them at a $3.5 BILLION valuation.
But to everyone's SHOCK, from selling 33,315 units in just a day, they could not even sell ONE today.
Here's the crazy story behind Micromax:
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BookMyShow was about to DIE
They had just reduced their team from 150 to just 6 people - and were looking at SHUTTING DOWN.
But then something strange happened.
THREAD: How BookMyShow became a MONOPOLY in movie and event bookings:
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Zerodha is an inspiration for us all. Yesterday something special happened. Nikhil Kamath, the man himself mentioned Think School in his podcast. This just made my day ❤️
look what he said :)
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BluSmart is faking its approach.
They are showing themselves as a 'cab' company, but are secretly tapping into a much bigger opportunity.
Let me explain with their short story:
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Swiggy wasn't the first major food delivery app.
It was Foodpanda.
In 3 years, they had gone live in 11 countries and processed more than 2 lakh orders per day.
But then all of a sudden, they went bankrupt.
Here's how FoodPanda dug their own grave:
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India is not saving anymore!
Our net household savings are at a 50-YEAR LOW!
The reason?
Explained in this thread ↓
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In 1973, FedEx was 2 days away from Bankruptcy.
Frederick Smith, its founder, took the company's last $5000, went to Las Vegas, and gambled it all on a game of BLACKJACK.
And he won.
Here's how FedEx became a $90 Bn business:
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Sanam Kapoor was living the Indian Middle-class dream.
A stable job at HCL. A good family.
Yet, he left his job... and invested everything into a business that would 90% FAIL.
Here's the awe-inspiring story of La-Pinoz pizzeria... and why it can BEAT DOMINOS and Pizza Hut!
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In 7 years, India went from manufacturing just 10% to 97% of the phones used here.
I am confident India can do the same again with SEMICONDUCTORS.
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Maggie was banned in 2015.
As things were going downhill for them...
They employed these 3 strategies to AGAIN become the
#1
brand in India.
Here's how Maggie made its comeback.
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We have hit 30 lakh subscribers in less than 2 years.
Here are 3 things we did right:
1. No fuss about numbers or algorithms!
2. Stick to our strengths and be consistent.
3. Keep taking feedback from the audience & act accordingly.
Our Journey:
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In 2010, CROCS was among the top 50 WORST INVENTION by Times Magazine.
They had $185 MILLION in LOSSES and a 98% FALL in their STOCK price (2008)
CROCS WAS ABOUT TO DIE.
But then something strange happened.
THREAD; How Crocs Rebounded to Become one of the MOST LOVED footwear:
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School friends to Business partners but forever brothers!
Cheers to 18 years of Friendship and Brotherhood!
Happy Birthday mere bhai !!
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Trust me: Pune, Surat, and Gurgaon are going to be the next Mumbai, Bangalore, and Delhi.
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While many Indian shops haven't even gone online yet,
Online companies are now planning to go offline. (Myntra and Makemytrip have already done it!)
Why the sudden change?
A few reasons:
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🇨🇳 China’s has found a New Weapon against India 🇮🇳!!
WATER!!
How? Let me explain.
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Snapdeal teetered on the brink of collapse in 2017.
But a brilliant move by them slashed losses by 95% and skyrocketed revenues by 97%.
Here's the mind-blowing story of Snapdeal:
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Amazon has employed HUNDREDS of Psychologists.
All make you spend MORE.
Here are the tactics they use to hook you to their app:
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Ever wondered by SCAM messages have AWFUL English in their messages?
Well... it's not because they don't know English.
It's because they want US to know THEY are SCAMMERS:
Here's their secret hack to SCAM YOU:
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Detachment is not that you own nothing.
Detachment is that NOTHING owns YOU.
-Bhagwad Gita
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Women’s clothes designed to have NO pockets, why?
So that they need to buy Bags!
Think about it. What else is designed this way?
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There should be an app where Indians can post suggestions to the government, and others can upvote/downvote it.
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Boroline isn't just any cream.
It is a SYMBOL OF SELF-SUFFICIENT INDIA.
Here's the ICONIC STORY behind Gour Mohun Dutta and his protest against the BRITISH using BOROLINE:
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J.R.D Tata has put it correctly:
Most of our troubles are due to poor implementation, wrong priorities, and unattainable targets.
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If you are a 20-30 year, and an Indian, I can bet 90% of you used Micromax in one point of time.
At one point, they were the second largest mobile company in India, even the 10th largest in the WORLD.
But then what happened? Read on
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The chocolate market in India is tough to crack.
The market is filled with affordable chocolate brands like Mondelez's Cadbury (55.9%) , Nestle Kitkat (14.9%), and other small players (13.3%)
These brands offer chocolates at a starting cost of ₹5 or 10.
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Zudio was born in 2016 in Bangalore.
And unlike modern brands - it had a completely different aim -
To provide fashion to not-so-rich people.
But wait - isn't that a low-margin area? Wouldn't it DESTROY Tata's image for quality?
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JIO streamed the IPL for “free” on JIO Cinema.
IPL 2023 triggered approx 72% new app installations for Jio Cinema.
Hotstar will now stream the World Cup for “free” on their mobile app.
Bookmark this tweet, I’ll share detailed stats and analysis here after the World Cup.
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Pakistan’s credibility is depleting faster than its foreign reserves.
- Dr. Jaishankar
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Zudio targeted EXACTLY these people. And they won.
Today, according to Rediff, Zudio earns more than ₹4,000 Cr in revenue and has more than 411 STORES across India.
Their growth strategy?
1/ Targeting Tier - 2, 3 Gen Z.
2/ FOCO
3/ Word Of Mouth
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This entire story teaches me a important lesson.
• 'Outsourcing' is a temporary fix. The only permanent solution is doing it in-house, in-India.
So what do YOU learn from them?
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Tata understood this.
Instead of competing with THOUSANDS of brands to catch those top 5% people
They focused on the remaining 95% - which meant they'd to crank DOWN their prices, and quality.
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Well, yes and no.
You see, Tata already had Westside as their 'premium' or quality apparel store.
But like you know - India is a developing country. Less than 3% earn more than 2.5 lakh per month.
And to afford clothes costing ~₹3k, is a luxury few could afford.
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1️⃣ The GIFT Paradox
The shocking part about Indians is that although they were VERY price-sensitive when it comes to GIFTING, they become entirely opposite.
They become luxurious spenders.
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Meet the fruit vendors son, who failed the 10th exams TWICE, YET built a ₹3,000,000,000 company using ICE CREAM:
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Spiderman: No Way Home cost SONY ₹1600 CRORE.
Chandrayaan 3 just costed ₹615 CRORE.
At just 1/3 of the cost of a movie, here is more about India's investment in the future: Chandrayan 3
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4 things in India are sold in a BLACK BAG-
• Condom
• Sanitary Pads
• Liquor
• 𝗠𝗘𝗔𝗧
Even with this social stigma, Licious built a $1,500,000,000 BRAND out of MEAT.
Here's its story (you'll not regret reading it)
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The 1990-2000s was an amazing time for internet companies.
You didn't need profits, just have 'internet' in your name and goals - and you'd be worth BILLIONS. (like AI)
Every person wanted to grab this opportunity
And Ashish Hemrajani jumped into this pool.
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My friend always buys gold from the same shop.
I asked him why, and he said,
”Because the shopkeeper is always kind to me. One day I forgot my umbrella, and he kindly gave his to me”
No amount of marketing was able to beat this level of relationship.
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And these 3 strategies paid off.
In 2015, Royal Enfield was awarded for the best marketing and sales.
Once a loss-bleeding company, Enfield makes up 90% of Eicher Motors profits today.
It not only has a HUGE fan base in India, but it also commands a 30% market share in the UK!
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It's because India is a socially driven market. Here we uphold our SOCIAL lives more than our own.
You must have heard from your mother to never go into another's house empty-handed.
Ferrero's used this exact social tradition to their advantage.
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1/ Targeting Tier 2-3
Guess who's Zudio's BIGGEST customer?
It's the college-goers, the Gen Z, and mainly from the Tier 2-3 cities.
They are the people who want the trendiest clothes - but thanks to financial constraints, they want it at a cheap cost.
Zudio catered to them.
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10 Mega Projects that can turn India into a developed economy by 2030
(Indians! You'd be proud of it!)
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Which is your all time favourite video on the Think School Channel?
Tell me ⬇️
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2/ The Cockroach Approach
However big any animal becomes, Its ENTIRE SPECIES has to DIE one day.
And then there is the cockroach. Whatever happens. Famine. War. Flood.
It'll survive.
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In India, the love for chocolate dates back decades ago, when Cadbury entered India in 1948.
For decades, it was seen as an occasional luxury item in most parts of the country
.... which mostly children ate.
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2/ Being a biker himself.
There's a difference between selling and buying.
𝗧𝗵𝗲 𝘀𝗲𝗹𝗹𝗲𝗿 𝗷𝘂𝘀𝘁 𝘄𝗮𝗻𝘁𝘀 𝗺𝗼𝗻𝗲𝘆, 𝗯𝘂𝘁 𝘁𝗵𝗲 𝗯𝘂𝘆𝗲𝗿 𝘄𝗮𝗻𝘁𝘀 𝘃𝗮𝗹𝘂𝗲.
To become a great businessman, we must think in terms of the buyer - what does he want.
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On the other hand, just 4 pieces of Ferrero rocher cost ₹160 - meaning one costs ₹40.
Ferrero Rocher has CREATED its niche in the PREMIUM and GIFTING segment and separated itself from the other readily available brands.
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2/ FOCO - Franchisee Owned, Company Operated
In just 8 years, Zudio opened 411 stores!
Yet - they spent MINIMAL CAPEX on it. How?
By allowing the franchises to invest everything for the new store, and then managing it on their behalf - paying them a fixed revenue share
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In the 1960's, Indians often had to wear dirty clothes.
Because the washing powder was too expensive for them.
But then - a man - in remorse of his daughter's death - created a washing powder - that would go on to make him a BILLIONAIRE:
Here's the inspiring story Nirma -
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But there was was catch.
Indians are evolving. We need 'fashionable' clothes to wear.
But... since our income isn't evolving as fast - we need them at cheap prices.
The result?
We resort to our local roadside market.
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This boy left IIT Bombay in the last year of his degree.
All to start a housing company that'd probably FAIL.
But then - his company - Housing. com was a HUGE SUCCESS.
Until - he left.
What followed was one of the greatest lessons you'll learn in BUSINESS.
THREAD
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They made it such that its tickets are ONLY available on BookMyShow!
For eg -
a/ IPL: Official ticketing partner for MI, DD, KingsXI.
b/ Formula 1: Official Ticketing Partner for the Indian Grand Prix.
c/ Concerts like the Ed Sheeran Concert!
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This was a WIN-WIN for everyone,
Because for Tata
• High CAPEX was reduced
• Everything was set up by the franchisee
And for Franchisee
• Trust of Tata to provide amazing returns (revenue share)
• No need to operate the store, since Tata did it.
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The 1990s was a revolutionary time for Bike companies.
They were witnessing never-seen-before growth.
Royal Enfield wanted to grab this opportunity.
So they merged with Madras Motors, closed their UK business, and started manufacturing and operating in India.
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Just look at this man.
He was honoured the SHAURYA Chakra by the PRESIDENT of INDIA.
Then? He LEAVES HIS JOB in the army.
What happened next will shock you:
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In 1849, Cadbury was launched.
Not as a sweet, but as an alternative to ALCOHOL.
Somehow, this 'alcohol alternative' became a huge hit - getting over 70% market share in India itself.
Here's the crazy story of Cadbury:
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1/ Exclusiveness.
A good company is just better than their competitors.
The great company - is so good - that they have NO competitors! (I mean they can't be compared to others). Therefore, they doubled down on
Exclusive Tickets. Bookings. Matches.
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This move by the government can
• Put an end to the stubble burning
• Reduce the price of CNG/LPG
• Reduce our fuel import
Here's all about the new CBG Blending Move:
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This man had NOTHING.
No Family Wealth.
No Experience.
No crazy MBA
Yet - he built a ₹4000 CRORE company selling FLOWERS.
THREAD: How Ferns N Petals revolutionized the gifting industry:
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But not to chase MONEY -
It was to chase COMFORT and ACCESSIBILITY.
Inspired by listening to a radio selling tickets in South Africa - he wanted to do the same for MOVIES in India.
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Siddharta Lal had an amazing idea to boost the sales of Enfield
Which included -
• Shutting 13 our of its 15 business.
• Addressing deeper problems of bikers.
• Building a cult around its bikes.
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And that's not it!
They understood the power of their TEAM.
Letting go of a team member is as hard as hiring them.
So - over 90% of the employees voted to take a salary cut instead of letting go of one of their teammates (during 2008 recession)!
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1/ Focusing on one
When Lal took over Royal Enfield, it had 15 different businesses - from ancillaries to garments.
Lal was a firm believer in focusing on one and making that one count.
So he decided to close 13 of the 15 businesses and focus on solely Bikesa and trucks.
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After the Russians, now Cuba is looking to settle trade in rupees!
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What I want Think School YT to do for Think Schoolers?
To teach business, geopolitics and history.
To show opposing ideas & Think Schoolers will self-verify truth from the study materials.
To be free, self-paced, & available to all.
No marks, no exams , no BS- just learning.
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We taught in a rented classroom with 20 students for more than a year before we started creating content online on YouTube.
Success does not come overnight, you have to put in the work!
Are you working on something? Do tell me about it below!⬇️⬇️
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Their strategy was never to sell to the mass public.
Their strategy was to be sold as a GIFT.
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But... where there's demand, supply will follow.
Yamaha, Jawa, and other Japanese companies flooded the Indian market with cheaper and better-quality bikes.
This increasing competition led Royal Enfield to be *almost* bankrupt - until it was bought by Eicher Motors in 1994.
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They aimed to become cockroaches, by
• Building Exclusivity
• A complete ecosystem for both CUSTOMERS AND BUSINESSES
• Stability (no funky new features - yet always at the top of tech)
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Eicher Motors wanted to close Royal Enfield, given its losses were piling up.
But, Siddharta Lal, Son of the CEO of Eicher, decided to step in.
His first step was - to ditch the company cars.
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Then what?
He launched these GENIUS strategies to become successful.
1/ Exclusiveness
2/ The Cockroach Approach
3/ Stability
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But Ferrero Rocher stood the test of time.
"Ferrero created a market for premium chocolates in India from scratch," said Devendra Chawla, CEO, of Food Business, Future Group.
In 2004, the only 'expensive' chocolate you'd find was Cadbury Celebrations, priced ₹100 to ₹175.
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And that's how BookMyShow became a monopoly!
Now - before you go, read this -
• This post is NOT sponsored by BookMyShow.
• I was intrigued by their story and strategy, hence the thread.
• BMS refers to BookMyShow.
• They also used more strategies - this is just a gist.
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So Lal, to understand the deeper concerns of a biker, decided to become one.
He ordered all his company cars to be ditched and FORCED every employee to commute on ONLY Enfields.
This way, he understood 3 deeper concerns with bikers:
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Plus - there is another factor - Location.
Instead of opening at the PRIME locations in a city - they focused on cheap places.
It saved them money - and got them what they wanted - the attention of their real target (i.e. low/middle-income people)
And - it helped them to:
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So with 2 more founders, he started BigTree Entertainment in 1999.
But soon came the BIG DOT-COM BUST.
Due to the recessionary environment, he had to lay off 96% of his employees!
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The simple reason?
Its price. Even though it was very affordable (₹5, and lower), it was still a big miscellaneous expense for families.
And here - if you brought PREMIUM chocolates, they were bound to fail.
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Thank you for all the support and love!
20Lakh+ subscribers
1176 lakh+ views
@thinkschoolbot
@Ganeshprasad999
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3/ Stability.
A business can't change. Yet - they HAVE to change.
What I mean is - If you change too much - like (trying) to convert Instagram users to threads - you'll DIE.
But if you don't - you'll still die! (Kodak).
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a/ Lack of safety due to technical reasons
b/ Problem of choosing EITHER looks OR power.
c/ Mechanical problems.
One by one, by gathering data from his own employees, he slowly fixed ALL issues with Enfield bikes.
And started focusing on ↓
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The marketing strategies included:
• Sponsoring off-road rallies, adventurous rides, Rider clubs.
• Building classic retail outlets to enhance buyer experience.
• Building a social status around his bikes.
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Then, Ferrero Rocher launched its 12-unit box at ₹300.
That was DOUBLE the price of Cadbury.
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1️⃣ The Early Days
Micromax was started in 1991 (yup) as a distributor for Dell, Hp Computers.
But in the early 2000s, they invented the use of SimCards to make calls.
A game-changer for isolated rural areas, they became big by distributing Nokia 32s (remember those
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Narendra Modi visited America with the OUR (the taxpayers) money.
He's hoping to pay it back through Investments:
Here is a list of ALL the investments made by foreign companies making this visit a SUPER hit ↓
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1️⃣ The First Steps
Asish Mohapatra is a gifted man. He attended IIT-Kh, ISB, then went to McKinsey, before finally ending up as a VC at Ma
But all of his research and study gave him one key insight: About MSMEs
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Money doesn’t change people, it amplifies who you really are. For example:
@RNTata2000
is a kind person, so when he gets money he gives it away. His kindness gets amplified.
Do you agree?
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Thus, They kept their core business - TICKET SELLING - at the TOP.
At the same time - they continuously improved it - by building
• Superb Android App and Website
• Inbuilt features (Split Tickets, Food and Beverages)
• Enhanced Movie Discovery.
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Saregama was about to face DEATH LIKE KODAK.
But then they launched an OLD BOX WITH JUST OLD MUSIC.
Little did they know this box would increase their share price by 100 TIMES -
THREAD: How Saregama Caravan made India dance on its tunes:
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3/ Building a cult
He knew humans are social animals.
And Bikers, too, love having a "social status" among their peers.
So through effective marketing, he built a cult around his bikes by focusing on the 'identity' aspect of bikers.
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40% of amazon reviews are fake.
Are you among the 92% who read reviews before you buy?
Well, be cautious, cause you’re being FOOLED.
Here’s how to spot fake reviews with ease (so that you don’t get fooled)
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It was the early 2010s.
Food Delivery was a rare thing.
For office people who
• Were living alone
• Don't know how to cook (or are bored)
• Were busy
Manually going to a restaurant to eat every time was a cumbersome task.
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Yet, they saw massive demand.
Not just with Ferrero Rocher, but also with Kinder Joy, Tic Tac, which are also priced higher than its counterparts.
But how did they make it work?
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Someone defined Economy as
“Smart People paying Beautiful People to promote products to insecure people”
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