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Business News/ Companies / People/  Easier than ever for new companies to establish consumer brands: Akshay Mittal
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Reverse Pitch | It’s easier than ever for new companies to establish consumer brands: Akshay Mittal

Till a few years ago, early-stage consumer brand ideas were discounted despite their strong potential to disrupt the market
  • In 2016, there were 25 million households with annual income of more than ₹10 lakh
  • Akshay Mittal, Angel investor and partner, First Coffee VenturesPremium
    Akshay Mittal, Angel investor and partner, First Coffee Ventures

    First Coffee Ventures focuses on high-growth ideas in the consumer brand space, serving large markets at the initial-traction stage. Till a few years ago, early-stage consumer brand ideas were discounted despite their strong potential to disrupt the market. Investors were concerned about the lack of sizable outcomes, limited ability to predict a brand’s success and a high barrier to entry in the form of distribution infrastructure. Now, with per-capita income at an inflection point, the changing habits and needs of millennials, and the emergence of a strong pro-brands ecosystem, India is on the verge of rewriting the consumption story. In 2016, there were 25 million households with annual income of more than 10 lakh, classified as the affluent class, contributing approximately 25% of the total consumption in India. In less than a decade, by 2025, there will be 50 million households in this category, contributing 40% of total consumption.

    India has a per-capita income of more than $2,000. At this point, the population starts consuming beyond basic necessities, leading to creation of demand. By 2025, our per-capita income is expected to double, while, in this period, per-capita consumption is expected to quadruple. With over 100% growth in modern-trade stores in the last three years, expected doubling of the number of internet users in the next five years and continuous rural to urban migration, it is easier than ever for new companies to establish consumer brands, and reach consumers through digital channels. At First Coffee Ventures, I welcome and actively look for startups with brand-led thinking and sharp entrepreneurs who can innovate and build consumer brands in big markets. It is an opportune time to back brands for better living—better food, better fashion, better beauty, better health and better homes.

    Reverse Pitch is like a normal investors pitch, but with the roles reversed. That means the startup doesn’t present its business to investors, but investors and companies pitch their business concepts, challenges and the like to startups.

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    Published: 05 Feb 2019, 11:34 PM IST
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