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<ul><li>On Business Insider’s Global Trends Festival, Fashion Designer <keyword id="8264" type="COMPANY" weightage="20" keywordseo="Sabyasachi">Sabyasachi</keyword> spoke about the future of fashion, how brands can help Indians feel proud of their culture, and what luxury means in India. </li><li>He also shared why consumers continue to buy expensive clothes from a luxury brand in a price-sensitive market like India. </li></ul>Over the years, Sabyasachi has built a brand that is truly Indian at heart and global at scale. Women who do dream of getting married often aspire to be a ‘Sabyasachi bride,’ a term coined by this legendary designer’s fans. Sabya, as he is popularly known, bootstrapped his business with a small capital of Rs 12,000, which was borrowed from his sister and today, his company has an annual turnover of $11 million. His journey is a testament to the fact that successful businesses are built on the pillars of perseverance and perspective. He was quick to realise that money isn't the only important thing when it comes to building a successful brand. Sabya shared, “Gone are the days when you could create a luxury brand just by the virtue of money. If that would have been the case, I would not have been a successful businessman at all because I started my own business with a capital of Rs 12,000. What I realised very early on was that to build a successful luxurious brand, you need to have a little bit of a cultural stand and a unique voice. At the end of the day, people need to look up to you.” Sabya climbed his way to the top on his own. He fought with his father, who wanted to see him become an engineer, to join National Institute of Fashion Technology (NIFT). His father also denied to fund his studies, so he sold his books to buy an application form for NIFT and got in. It was his determination and passion for fashion and craftsmanship that pushed him to do better and pull all-nighters. It was also this outsider perspective that helped Sabya envision a brand that offered both luxury and dignity. He said, “At one point in Kolkata, I saw a lot of luxury, exuberance and lavishness, and I also saw poverty and restraint. But what they both had in common was dignity. One of the reasons why I have been able to build a luxury brand is because I am detached. I look at luxury from an outsider perspective. For me, luxury is everything to do with refinement, restraint, dignity and value. So, to build a brand that is successful, it is important to have perspective.” Sabya turned the tide in his favour and built a niche, luxurious brand in a hyper-price-sensitive market. But what does luxury really mean to Sabya? “Luxury cannot be created from the point of subjugation. It needs to be created from a point of cultural relevance. In fashion, the ability to express yourself and to stand for who you are, is the definition of luxury,” answered Sabya. Bringing pride back for Indian culture Indian fashion practices, which have traditionally been influenced by cultural habits, have witnessed a gradual transition and have begun to align themselves to global trends. With this, Indians have adapted both, the colonial language and the fashion sense. Traditional wear is often remembered for festivals and celebratory occasions. So, with brand Sabyasachi, Sabya’s aim was also to instil national pride in our culture and its roots. Explaining why luxury is a reflection of one’s cultural identity, he said, “When I started my business in India, I realised that a lot of Indians were not proud of their cultural heritage. We had been colonised for a very long time and there was a colonial hangover that was expressed in Indian clothes. So, luxury is about self expression, comfort and about coming home to who you really are. In fashion, luxury is about your cultural identity, which is best expressed in India through exquisite craftsmanship.” Sabya, who is also surprisingly slightly colour-blind, is known for his perfection. He is seen as a businessman whose focus is on customers. Everytime he works on a collection, he trusts his intuition. Before the final draft reaches the edit table, he sits with an editing scissor and asks himself, “Why is it that the customer will buy this product?” The final draft is sent to the edit table once he feels confident about his design and has trust in its uniqueness. “I have always been guided by the two principles that the Indian customers are looking for: a sense of longevity and investment in products which can be very transient. With COVID, this sense has amplified because people want to buy things that are luxurious but they want the option to use it everyday,” said Sabya. Sabya also keeps the environment in mind while working on his products and wants to put a pause on fast-fashion trends. “At Sabyasachi, we do the exact opposite of fast fashion. We do the same kind of clothes over and over again because I want people to buy things that are timeless and give them a certain sense of identity. Similarly, when I do ready-to-wear, I would actually do classic products that people can use again and again. You see the harms of fast fashion because everything goes into landfills. Today you have to be conscious about how your business is creating carbon footprints and I would never do any kind of business that could harm the planet. I’d like to create a product that people have a relationship with. I would not want to create a product that they would discard seasonally, that’s not in my DNA.” However, Sabyasachi is an expensive brand that not everyone can afford. Sabya was once asked by Bollywood Actor Boman Irani in a television show if his ‘brand has customers or just fans’. But Sabya believes that its quality and value supersedes its expense. He said, “Why is it that the customer comes back to you again and again? It is because expense and value are two different parameters. As a customer, when I buy something I don’t look at the price, I look at the value the product offers. I want my customers to feel the same way. I want to offer them the best thing, irrespective of the price and I don’t want them to feel cheated that they have paid more than the value being offered.” If Indian consumers do want value products, why aren’t there many brands in the luxury landscape? Explaining the reason behind this gap, Sabya said, “The reason why India doesn’t have too many luxury brands is because everybody gets too corporatised. When you are working as a corporate, you are just doing a job. When you own a business, it is your little child and you want it to grow and do better everyday. For those who want to build a luxury brand, everyday is a battle -- not with anyone else but yourself -- you lead through inspired leadership and you just want to strive to make things better. What is perfect for everyone else might be imperfect for you and you have to be open-minded and need that humility to make something wonderful, better." Brands of the future Post COVID, Sabya thinks that the world needs to celebrate exuberance a lot more because our time in this world is finite. So, as customers become more cautious about where they put their money, brands need to offer an authentic experience and beautiful story-telling. And while they are at it, brands that help community as well, will become the brands of the future.

Here's Sabyasachi's journey of starting a brand with Rs 12,000 to becoming every Indian bride's dream

New Delhi, Jan 27 (IANSlife) One of the most influential labels, if not the reigning brand in Indian fashion, <keyword id="8264" type="COMPANY" weightage="20" keywordseo="Sabyasachi">Sabyasachi</keyword>, enters into a strategic partnership with <keyword id="2834772" type="COMPANY" weightage="20" keywordseo="Aditya-Birla-Fashion">Aditya Birla Fashion</keyword> and Retail Limited (ABFRL) by which <keyword id="967" type="PERSON" weightage="20" keywordseo="Aditya">Aditya</keyword> <keyword id="39439" type="COMPANY" weightage="20" keywordseo="birla">Birla</keyword> Fashion has acquired 51 percent stake in the brand for an undisclosed amount. The namesake label of designer Sabyasachi Mukherjee has been a leading retailer and couturier in Indian fashion since 1999 with a strong presence across the country and internationally. From humble beginnings in Kolkata, designer Sabyasachi Mukherjee has grown his brand from strength to strength, being the proud owner of what can only be called as India's first '<keyword id="2488478" type="COMPANY" weightage="20" keywordseo="Luxury-fashion">Luxury Fashion</keyword> House' in the real sense of the term. On Wednesday, 27th January, ABFRL announced that its platform will complement brand Sabyasachi on its journey to becoming a global luxury house out of India. This aim is to build a large ethnic wear business over next few years to complement its strong and diverse portfolio in western wear segment of the Indian apparel market. ABFRL is part of a leading Indian conglomerate, The <keyword id="44373" type="COMPANY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, with a revenue of Rs. 8,788 Cr in FY19-20, it is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. CEO and Founder of Sabyasachi Brand, Mr. Sabyasachi Mukherjee, said: "Over the course of the last couple of years, as my brand evolved and matured, I began searching for the right partner in order to ensure continuity and long-term sustainable growth. I am honoured and excited to have found that partner in Mr. Kumar Mangalam Birla and ABFRL. Aligned in our vision, and committed to excellence, we will work together to grow a truly global luxury brand out of India." Sabysachi Mukhrjee has always been ahead of the curve, and from the very beginning has strived to create a brand which in addition to the creative side of fashion, focused on the business of fashion. Sabyasachi has emerged as one of the most influential cultural voices in the country  shaping modern fashion and lifestyle while celebrating artisanal craftsmanship and traditional techniques in each and every product. The brand straddles categories such as apparel, accessories and jewelry and has a strong franchise in India, US, UK and the Middle East. Today, with solid footing in the domestic retail landscape, several major global collaborations, and international flagships opening soon, Sabyasachi continues steadfastly on its path to becoming the first voice of global luxury out of India. Commenting on the partnership with the ace designer, Ashish Dikshit, Managing Director, ABFRL adds: "We believe that over the next few years, ethnic wear is going to be an increasingly important category as young and confident Indrediscover their culture and heritage. The Sabyasachi brand, through its emphasis on excellence in design and craftsmanship has set new benchmarks and captivated the imagination of the sophisticated global Indian consumer. We are proud to partner Sabyasachi in its journey to become the only global luxury brand from India. We see a 'Made in India' global brand like Sabyasachi occupying the pinnacle of our ethnic wear portfolio. Over the next few years, ABFRL intends to craft a portfolio that addresses the entire gamut of ethnic wear segments: value, premium and luxury." The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreements. One can only wait and watch this unique story of Indian excellence unfold in the months to come.

Sabyasachi sells 51% stake to Aditya Birla Fashion

<ul><li>Till now, WhatsApp has been a relatively untapped marketing tool, however, the launch of WhatsApp ads might soon change the game.</li><li>Marketers are currently using the WhatsApp for Business App and the WhatsApp for Business API.</li><li>Sectors like travel, diners and niche news channels have been using WhatsApp to reach their consumers.</li><li>Industry experts tell us about the different ways in which marketers can make the most out of the platform.</li></ul>As we enter a new year and decade, one trend that digital marketing experts across the world have been talking about is <keyword id="8555229" type="UNKNOWN" weightage="100" keywordseo="whatsapp-marketing">WhatsApp marketing</keyword> and how it can help brands reach out to their audiences effectively. With close to 1.5 billion users across the globe, the Facebook-owned app is perhaps one of the most popular and frequently used apps in the world. Recently at the Facebook Marketing Summit (FMC) 2019 that took place in Netherlands, the company announced that it will soon show ‘Status ads’ to its users where they will be able to see the name of the advertiser along with their associated advertisement. This is expected to open a floodgate of opportunities for brands interested in getting up, close and personal with their consumers. However, while there is still some time for WhatsApp to launch ads, we explored the other ways that marketers can use the platform. How marketers can use WhatsApp Currently there are two products from WhatsApp that can be used by marketers to reach out to their consumers. Firstly, the WhatsApp for Business App, that can be used by small businesses and secondly, the WhatsApp for Business API that has been designed for medium and large businesses. Explaining how these two products can be used by marketers, <keyword id="831440" type="PERSON" weightage="20" keywordseo="Sabyasachi-Mitter">Sabyasachi Mitter</keyword>, Founder and MD, Fulcro says, “The WhatsApp for Business App is meant for the use of small businesses. It is similar to the WhatsApp mobile app which you already use on your phone, with some additions like auto-responders and a basic product catalogue. This app is used manually and cannot really scale beyond a few 100 customers. The WhatsApp for Business API is solution that is aimed at enterprises and brands that wish to engage with their customers at scale. It provides an API-based interface that allows brands to communicate using the WhatsApp platform. There is no ‘app’ that a business can just download and get started, and requires a brand to setup a proper infrastructure. Brands need to invest time in the setup of the WhatsApp for Business API.” The WhatsApp for Business API provides brands with the ability to communicate with customers in 2 ways - a notification message or a Session Window, adds Mitter. Notification messages can be sent to customers who have signed up to receive notifications from the brand. These messages have to be pre-approved by WhatsApp. “When customers message to a brand, they open a ‘Session Window’. In this window, a brand can communicate with a customer for a 24-hour window from their last message in a free-form mode. Here they can send all sorts of content, including images, videos, and documents,” he shares. For the longest time advertising was about one way interaction with consumers. However the advent of internet has allowed brands to get closer to its consumers, to have more two-way communications. That is exactly what WhatsApp allows brands to do. Delving deeper, <keyword id="5817401" type="PERSON" weightage="20" keywordseo="Vishal-Rupani">Vishal Rupani</keyword>, Co-founder and CEO, mCanvas says, “There are some business teams which prefer to send out messages using their personal WhatsApp account, and not a business alternative and it works well on a small scale. But if we’re going to consider the use of WhatsApp as a marketing tool at scale, then it’s time to look at the bigger picture. Large brands are using WhatsApp Business API to send out personalised appointment reminders, shipping alerts, order notifications, product demonstration videos, verification codes, boarding passes, and 2-way customer surveys and support messages.” So how can brands benefit from using the platform? Considering the wide usage of the app, it makes for a platform where brands can directly reach out to an already-engaged audience. Citing some interesting figures, Rupani says, “According to Hootsuite, the engagement rates on WhatsApp are distinctly high, where 98% of mobile messages are opened and read, with 90% of them getting opened within three seconds of being received. Marketers can leverage the wide reach of the app to tap into consumer segments on a personalised level. Further, the messaging interface of the app makes it tempting enough for any user to click on. If that’s not enough, then the personalised nature of WhatsApp messages evokes a desire to engage with the message.” Speaking about sectors that have been finding the most value out of investing on WhatsApp, Mihir Mehta, AVP – Digital Planning and Buying, iProspect India says, “Since it is a conversational and interactive platform, a lot of sectors like travel, diners, niche news channels prefer to use it to reach their consumers.” The brands that have been doing it right on WhatsApp Some brands that have been leveraging WhatsApp, primarily for customer service are Nykaa and BookMyShow. However, there are some other brands that have been innovating on the platform to reach out to its consumers. Giving a few examples, Rupani says, “Brands in the hospitality industry have effectively used WhatsApp Business to create a flawless experience for users at every step. For instance, OYO, the Indian hotel booking site, assists their customers with personalised alerts regarding booking confirmation, directions to the hotel on the day of check-in and even makes cancelling their bookings easy and hassle free. Further, KLM, the flag carrier airline of The Netherlands also uses WhatsApp Business API to send booking confirmations, boarding passes, check-in notifications, and flight statuses to users, once they’ve completed a booking on the airline’s website.” He shares that Absolut was one of the first brands to creatively use WhatsApp to promote its limited edition Absolut Unique vodka with branded social content. “In this campaign, consumers interacted on WhatsApp with a fictional bouncer named Sven. They were encouraged to send text and voice messages, photos and videos to convince him, that they deserve to receive one of the two passes available to the brand’s exclusive party. This was a unique twist to how WhatsApp can be used as a marketing tool,” adds Rupani. WhatsApp v/s other social media platforms While other social media platforms help brands get direct engagement with their consumers too, WhatsApp has a different set of benefits. Explains Mitter, “We have to realise that the two platforms are very distinct and have different purposes. WhatsApp allows a brand to engage with a customer one-on-one, while on Social media, a Brand will engage with a community, and both have a place in the consumer journey. For example, when seeking support, WhatsApp would present a better option to the customer, as they can be serviced one-on-one on a dedicated conversation.” “Both platform types also help support each other. Communicating with a consumer on WhatsApp needs the recording of explicit consent, either through a form or through an incoming message, Social Media can be used to help inform customers and give them a viable reason to give consent,” he adds. While WhatsApp and other social media platforms play different roles in a consumer’s life, it is important to understand that an effective use of these apps can help marketers get through to a really engaged audience. Moreover, the launch of WhatsApp status ads is set to take the game to the next level, allowing brands to put their thinking hats on and innovate. Brands will need to ensure that the ads shown on the platform do not become intrusive. Now how brands make the most of this platform is something we will have to wait and watch. Needless to say, we have interesting times ahead.

Why WhatsApp marketing could be the next big thing for digital marketers

<ul><li>In an interview with Business Insider India, Luv Isrrani, an Indian celebrity wedding photographer, says people still don't respect the profession. </li><li>A wedding photo shoot can cost anywhere between ₹15,000 and ₹100,000 per day. </li><li>Compare that to the median salary for employees in the two highest paying industry in India — Power and IT — is ₹1,45,833 a month. While the per capita income for all Indians is ₹10,534 a month.</li></ul>Indian brides and grooms are wackier and experimenting with wedding looks, like floating in a pit and other ways in a bid to stay different. Others who are not as imaginative are opting to turn their special day picture perfect. It hence comes as no surprise that wedding photography is a thriving business in a $50 billion wedding market, <a href="https://www.voguebusiness.com/fashion/indian-wedding-fashion-millennials-lehenga">according</a> to Vogue India. Luv Isrrani, who shot the wedding of Indian cricketer <keyword id="368" type="PERSON" weightage="20" keywordseo="Harbhajan-Singh">Harbhajan Singh</keyword>'s wedding, says that the business has changed for the better. When he started working 15 years back, he charged ₹3500 to shoot an entire portfolio. Today, he charges ₹150,000 a day, and that is a whopping 4,200% increase. It also compared well to the median salary for employees in the<a href="https://www.randstad.in/about-us/press-releases/press-releases/fmcg-emerges-as-the-highest-paying-industry-in-india-randstad-salary-trends-study-2017/"> two highest paying industries in India </a>— energy and IT — is ₹1,45,833 a month. While the per capita income for all Indians <a href="https://www.livemint.com/politics/policy/india-s-per-capita-income-rises-10-to-rs-10-534-a-month-in-fy19-1559318636062.html">is </a>₹<a href="https://www.livemint.com/politics/policy/india-s-per-capita-income-rises-10-to-rs-10-534-a-month-in-fy19-1559318636062.html">10,534 a month.</a> The driving factor Most photographers in India do not earn anywhere close to Luv. The difference between Luv and other cameramen is his focus on weddings, which is big business in India, especially the ones involving celebrities. Every wedding is becoming more lavisher, and he has much to gain. A <a href="https://www.indiatvnews.com/lifestyle/relationships-big-fat-indian-wedding-survey-432568">recent survey revealed</a> that millennials are ready to spend a hundred thousand rupees for a typical wedding ceremony that lasts for three to four days in India. More than 20% of the female and 11% of the male agreed that they can spend ₹10,00,000 to ₹20,00,000 on their wedding. However, another survey said<a href="https://scroll.in/article/831857/the-big-fat-indian-wedding-still-survives-but-millenials-are-increasingly-opting-out">, women opt for low-cost weddings </a>as they get older. Half the people living in India are under the age of 30, <a href="https://www.voguebusiness.com/fashion/indian-wedding-fashion-millennials-lehenga">reported</a> Vogue India. While millennials are getting more thrifty, still a majority of Indian weddings cost way more than what the person can ideally afford. With people using more and more social media, brides and grooms want their wedding to be in a certain way within a certain budget, said <a href="https://www.sabyasachi.com/">Sabyasachi Mukherjee</a>, a famous fashion designer. The demonstration effect as a result of the grand celebrity wedding like <keyword id="1655" type="PERSON" weightage="20" keywordseo="Priyanka-Chopra">Priyanka Chopra</keyword> and <keyword id="6381400" type="PERSON" weightage="20" keywordseo="nick-jonas">Nick Jonas</keyword> or Ranveer Singh And Deepika Padukone are adding to the desire. <div type="Article" hostid="261" msid="67150327" title="Meet the Ambanis, the richest family in Asia, who live in a $1 billion skyscraper and mingle with royals, politicians, and Bollywood stars" mstype="2" mssubtype="0"></div>
Every business related to wedding is thriving. Anita Dongre, an Indian fashion designer, <a href="https://www.voguebusiness.com/fashion/indian-wedding-fashion-millennials-lehenga">registered an annual turnover</a> of over ₹700 crores (£82.2 million) in 2019, a 30% increase compared to last year. Indians have always been known to splurge at weddings. Even the poorest of the lot tend to save their entire life, or borrow in a huge way, to fund the weddings of their children. The stakes are much higher today. Luv is minting money as a celebrity wedding photographer. But that’s just a stepping stone. Israni is all set to be a director. He recently directed a music video with TSeries and is planning to do much more than photography. See also: <a href="https://www.businessinsider.in/the-remarkable-journey-of-byju-raveendran-from-a-teacher-to-a-billionaire/articleshow/70550817.cms">The remarkable journey of Byju Raveendran from a teacher to a billionaire</a> <a href="https://www.businessinsider.in/simba-beer-is-roaring-towards-success-with-focus-on-indias-smaller-markets-and-a-revenue-of-125-crores/articleshow/70270926.cms">A 27-year old has his own beer brand that is earning ₹125 crore just in its third year</a>

A 34-year-old Indian photographer’s income has grown over 42 times in 15 years — thanks to big, fat Indian weddings

B2B <keyword id="6395918" type="General" weightage="20" keywordseo="saas" source="Orion">SaaS</keyword> <keyword id="2461546" type="General" weightage="20" keywordseo="fintech" source="Orion">fintech</keyword> company <keyword id="1579449" type="General" weightage="20" keywordseo="perfios" source="Orion">Perfios</keyword> has become India's second <keyword id="152045" type="General" weightage="20" keywordseo="unicorn" source="Orion">unicorn</keyword> of 2024 as it raised $80 million in a new <keyword id="6357455" type="General" weightage="20" keywordseo="funding" source="Orion">funding</keyword> round from Teachers' Venture Growth (TVG), a late-stage venture and growth investment arm of Ontario Teachers' Pension Plan. Perfios now valued at more than $1 billion with the new investment, reports TechCrunch. The company said that it will be using the new capital for international expansion and to explore inorganic growth opportunities. It also plans to go public by next year. "Our business has been seeing steady growth year-on-year, with consistent improvement in the bottom line. I want to extend my heartfelt gratitude to all our partners who have trusted us throughout our journey," Sabyasachi Goswami, CEO of Perfios, was quoted as saying. Bhavish Aggarwal's AI startup Krutrim SI Designs raised $50 million at a $1 billion valuation last month, becoming the first unicorn of this year. Last year, Perfios raised $229 million in its Series D funding from leading private equity investor Kedaara Capital. Founded in 2008, Perfios is serving the banking, financial services and insurance industry in 18 countries, empowering more than 1,000 financial institutions. Perfios delivers 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and processes 1.7 billion transactions a year with an AUM of $36 billion.

Fintech firm Perfios becomes India's second unicorn of this year

“I started <keyword id="20024281" type="General" weightage="20" keywordseo="investing" source="keywords">investing</keyword> when I was 24, and had just taken up my first job. At first, it felt like a herculean task, setting aside Rs 15,000 every month for long-term investing. But now, at 29, I have a comfortable corpus with me, and I am able to even fund my sister’s education. I now realise how investing is the first step towards achieving some level of financial independence”. That was Yumna, a 29-year-old Delhi-based communication professional’s “tryst with her finances”. Tomorrow, India will celebrate its “tryst with destiny”, its 78th day of independence from Britishers. And so, it is certainly the right time to revisit our personal journeys towards independence, at least financially. If we heavily rely on our monthly salaries, being broke towards the end of the month, and desperately waiting for that end-of-the-month fund credit “ting”, then are we really independent? So, this Independence Day, consider gifting yourself (and your friends and loved ones) these five presents that promise you financial freedom. <h2>Start SIP-ing in Mutual Funds, stocks</h2>The British ruled India for almost 200 years, starting from the battle of Plassey in 1757, to when India finally ousted the British Raj in 1947. Nearly 200 years of tireless persistence, struggle and revolution was what it took to achieve freedom. Keep that in mind when you feel constantly investing for 10-15 years is “way too long!”. Consider this. Yumna started investing Rs 15,000 every month, five years ago. Assuming 12% p.a. in return, she has already amassed over Rs 12,00,000, out of which her investments are worth Rs 9,00,000, while her returns come to Rs 3,37,295. What if Yumna continues to invest at this pace for the next 20 years? If she invests Rs 15,000 (and assuming 12% p.a. return), she’d have invested Rs 36,00,000, while her returns would be a whopping Rs 1,13,87,219, making her total corpus worth Rs 1,49,87,219. The best time to start investing in the market was yesterday. So, if you’re yet to start investing, do so right away. But remember, it’s a marathon, and not a sprint, so remember to stay in and invested for the long run. <keyword id="20481917" type="General" weightage="20" keywordseo="index-funds" source="keywords">Index funds</keyword>, which basically mirror popular market indices like Nifty and Sensex are a good place to start. <h2>Insure yourself</h2>Getting a term and <keyword id="19894985" type="General" weightage="20" keywordseo="health-insurance" source="keywords">health insurance</keyword> should be at the top of your to-do list, immediately after you start earning. And no, don't rely just on your employer-provided <keyword id="19996817" type="General" weightage="20" keywordseo="insurance" source="keywords">insurance</keyword>. Plus, having term insurance can also help you save on taxes (an annual premium paid of up to Rs 25,000 for those aged less than 60 is tax-free under old tax regime), apart from saving you during medical emergencies. Says Sabyasachi Sarkar, Appointed Actuary, Go Digit Life Insurance, “a life insurance plan is a tool that provides a safety net for your family in case of unexpected events and for your need of savings or pension. Ideally one should take a term life cover that is at least 10-15 times your annual income. Moreover, adding riders like death benefits or disability coverage to your policy can offer protection and advantages beyond the basic coverage. Moreover, when picking a life insurance company, consider factors like the claim settlement ratio, returns etc”. Once you’ve insured your life, it's time to safeguard your health as well, with a solid health insurance policy. As Vivek Chaturvedi, CMO and Head of Direct Sales at Go Digit General Insurance notes, “Ensure the plan that you are picking does not come with any cap on the choice of room or ICU as this may impact your overall hospitalization bill. Second, make sure your policy provides a sum insured backup or reinstatement benefit.” Also, check for the pre- and post-hospitalization benefits in your health coverage. Ensure that expenses like diagnostic tests, doctor’s fees, medical check-ups, etc. that you might have to incur before you get hospitalized or after you are discharged are covered. A good plan should provide at least 60/90 days of pre- and post-hospitalization coverage. And lastly, check the coverage for organ donor expenses. While it is a low-probability event, any organ transplant is an expensive affair. This ensures such costs are covered by the insurer. <h2>Save for a rainy day</h2>“It can’t happen to us until it does”. When you are flooded with a daily deluge of news about accidents, deaths, fires, train wrecks and more, it’s easy to disassociate and think “Oh, this won’t happen to me”. But when emergencies arrive at your doorstep, they don't knock but rather break the door down. As such, it's best to be financially prepared for any contingencies, and the best way to do so is to have an <keyword id="20747810" type="General" weightage="20" keywordseo="emergency-fund" source="keywords">emergency fund</keyword> handy. For this, you can set aside 3-6 times your monthly income in a liquid mutual fund, recurring deposit (RD) or savings bank account. This will help you tide over a medical emergency, job loss and more. But remember, this is not to be broken into for funding those impromptu vacations! <h2>Upskill, Upskill</h2>Earning money is hard, but still easier than effectively managing it. Most of us run away from managing and investing our own hard-earned money because it sounds difficult and looks too complicated and jargon-y. This Independence Day, gift yourself a basic course on <keyword id="20762784" type="General" weightage="20" keywordseo="money-management" source="keywords">money management</keyword>, budgeting and investing. You won’t become <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword> overnight, but it will certainly be a good start. Start with a basic budget and importantly, stick to it. Write and track how much you earn and spend on a monthly basis, so that you’re more in charge of your funds, and not looking (hopefully!), at maxed-out credit cards and empty wallets at the end of the month. <h2>Be free of anything that looks easy money</h2>These days, it’s super easy to get credit, a personal loan, and buy your favourite gadget, or your latest fascination via <keyword id="19985897" type="General" weightage="20" keywordseo="BNPL" source="keywords">BNPL</keyword> (Buy Now Pay Later). And in the short run, it can be incredibly satisfying as well. But then, when you get your monthly statements, and find a never-ending stream of interest charges, and penalties, which eventually pull you into a spiral of debt trap. If something looks too good to be true, it might really just be too good to be true. BNPL and instant credit are very much like that. So, the next time you want to buy something expensive, hold that thought for at least 48 hours, before revisiting it. Most of the time, you’ll find you don't even desire it anymore. If you still have the urge to buy it, try the saving and buying approach, instead of swiping your credit card or signing up for BNPL apps!

Five gifts you can give to yourself, friends, or family, towards achieving financial independence

<ul><li>The capital raise programme will be through combination of a primary fund raise and a secondary sale.</li><li>Startup to use funds to expand its global footprint beyond 18 countries to US and Europe.</li><li>Existing investors – Warburg Pincus and Bessemer Venture Partners continue to show support. </li></ul> The funding winter may be hurting the startup ecosystem as a whole, but capital is still available to companies that have a solid business model. <keyword id="1579449" type="General" weightage="80" keywordseo="perfios" source="Orion">Perfios</keyword>, a <keyword id="10600982" type="General" weightage="40" keywordseo="b2b-saas" source="Orion">B2B SaaS</keyword> fintech company, said on Monday that it is raising $229 million from <keyword id="6460966" type="General" weightage="60" keywordseo="kedaara-capital" source="Orion">Kedaara Capital</keyword>, as part of its Series-D funding round. The capital raise programme will be through the combination of a primary fund raise and a secondary sale. This marks one of the largest investments in an Indian B2B SaaS company this year. Commenting on the development, Sabyasachi Goswami, CEO, Perfios, said, “Since our inception in 2008, Perfios has consistently led the way as a category-creating leader in the SaaS space. This investment will help us in strengthening the digital transformation journey of our partners, thereby, powering financial inclusion and providing access to financial services to billions across the globe. We are very happy to have Kedaara Capital as a new investor, and thankful to Bessemer Venture Partners and Warburg Pincus for their continued support and confidence in us.” Perfios was founded in 2008 as a global B2B SaaS company serving the banking, financial services and insurance industry in 18 countries. Through its software platforms and products, Perfios helps financial institutions to take big leaps by shaping their origination, onboarding, decisioning, underwriting and monitoring processes at scale and speed. With a current footprint in 18 geographies, Perfios plans to expand business in other global markets and build sophisticated and new-age technologies that will enhance the customer experience and reduce complexities. Perfios is currently present in the Middle East and Southeast Asia apart from India. It plans to use the funds to further expand its global footprint in North America and Europe. The company also plans to invest in new-age technologies to enhance its comprehensive stack of decision analytics SaaS products to solve the entire end-to-end customer journey across banking, insurance, and embedded commerce. On signing the definitive agreement with Perfios, Nishant Sharma, Founder and Managing Partner, Kedaara Capital, said: “Perfios has created truly the best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitization levels in the financial services sector in India and globally. Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market leading position, and we are excited to partner with them.” With Bessemer Venture Partners joining in 2017 during the Series A round and Warburg Pincus in 2019’s Series B, Perfios has garnered significant backing from investors over the years. On the new round of investment, Vishal Mahadevia, Managing Director and India Head, Warburg Pincus, said: ”Having been a part of Perfios’s journey from its early stages and their commitment to revolutionizing the financial services sector has been unwavering, and this new round of funding further solidifies our belief in their vision.”

SaaS fintech firm Perfios raises $229 mn from Kedaara Capital

The makers of the upcoming action-thriller movie 'Code Name: Tiranga' have decided to cap the opening day ticket price of the film at Rs 100 per ticket at all cinemas across India. The lead pair of the film, Harrdy Sandhu and <keyword id="562349" type="General" weightage="80" keywordseo="parineeti-chopra" source="Orion">Parineeti Chopra</keyword>, shared the news with their fans through a special video. The espionage action thriller, 'Code Name: Tiranga' is the story of a spy on an unfaltering and fearless mission for her nation in a race against time where sacrifice is her only choice. The film, directed by <keyword id="386035" type="General" weightage="80" keywordseo="ribhu-dasgupta" source="Orion">Ribhu Dasgupta</keyword>, will see Parineeti playing a RAW agent who is on an exhilarating journey across many countries. This will be Harrdy Sandhu's second Hindi film after the sports-drama '83', which failed to impress the critics and also couldn't do much at the box office. The film, which also stars <keyword id="30223" type="General" weightage="80" keywordseo="sharad-kelkar" source="Orion">Sharad Kelkar</keyword>, <keyword id="115070" type="General" weightage="80" keywordseo="rajit-kapur" source="Orion">Rajit Kapur</keyword>, Dibyendu Bhattacharya, <keyword id="201000" type="General" weightage="80" keywordseo="shishir-sharma" source="Orion">Shishir Sharma</keyword>, Sabyasachi Chakraborty and Deesh Mariwala, will debut in theatres on October 14. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-startup-funding-hit-2-year-low-in-jul-sep-at-2-7-billion-pwc/articleshow/94832229.cms" style="">Indian startup funding hit 2-year low in Jul-Sep at $2.7 billion: PwC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/wework-india-makes-its-1st-investment-in-bengaluru-based-zoapi/articleshow/94831789.cms">WeWork India makes its 1st investment in Bengaluru-based Zoapi</a>

'Code Name: Tiranga' makers cap first day ticket prices at Rs 100 across India

<ul><li>At around ₹1,650 crore for 51% stake, the acquisition could be one of the largest deals in the Indian fashion space.</li><li>Post the merger, every shareholder of TCNS will receive 11 shares of Aditya Birla Fashion for every 6 shares that they hold in TCNS.</li><li>Analysts are not very positive on the merger given the fact that TCNS has been making losses for the past two financial years and has been underperforming its peers.</li><li>With this acquisition, analysts expect Aditya Birla Fashion’s net debt to rise to the highest level in three years. In fact, the company may also have to raise money to finance the acquisition. </li></ul>After Aditya Birla Fashion and Retail (ABFRL) announced a merger with TCNS Clothing over the weekend, shares of both the companies fell sharply on Monday – while TCNS tanked 20%, Aditya Birla Fashion fell 5%. As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29% of TCNS at ₹503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51% in TCNS. Post the merger, every shareholder of TCNS will receive 11 shares of ABFRL for every 6 shares held in TCNS. The acquisition could be one of the largest deals in the Indian fashion space as the value of the promoter stake and open offer consideration for TCNS is around ₹1,650 crore for 51% stake. Kumar Mangalam Birla, chairman at Aditya Birla Group, said the acquisition of TCNS prepares ABFRL for the next phase of growth. “By embracing TCNS's portfolio of loved women’s ethnic brands, we are reinforcing our commitment to ethnic wear, the largest category in the apparel industry. With this acquisition, the fast-growing ABFRL platform is poised for the next phase of transformational growth.” Analysts feel merger unnecessary given TCNS Clothing’s underperformance Analysts, however, are not very positive on the merger given the fact that TCNS has been making losses for the past two financial years – despite a narrowing of losses, it is still underperforming its peers. “We are not sure why ABFRL deemed it necessary to acquire TCNS’ business, other than the fact that it immediately pushes up its revenue size by 8-10%. What ABFRL is buying is essentially ₹12-13 billion of annual revenue, given that it may need to almost entirely reconstruct the profit and loss (P&amp;L) from scratch from a profitability point of view,” said a report by JM Financial. Aditya Birla Fashion &amp; Retail will raise ₹700-800 crore in debt to help fund the acquisition of TCNS, according to an <a href="https://economictimes.indiatimes.com/markets/stocks/news/tcns-clothing-shares-crash-19-as-aditya-birla-fashion-to-acquire-majority-stake/articleshow/100064452.cms">ET report.</a> “Unlike other mergers and acquisitions, we believe, this transaction does not need to be looked at from an earnings per share (EPS) accretion/dilution perspective or synergies. Key aspect is the fit of the brand and more importantly turnaround, given that TCNS had been lagging peers in recovery and underperforming for more than two years now. Only a successful turnaround of the same can create shareholder value,” said analysts at Nuvama Institutional Equities. TCNS is among key players in the women's ethnic wear market with brands such as W, Aurelia, Wishful and Elleven. However, analysts believe that the market remains highly crowded with a large section of unorganised players catering to highly price-conscious women consumers. “This possibly has led to a weak 2% revenue compound annual growth rate (FY19-23E) in TCNS operating at a premium pricing and &gt;65% gross margins. Therefore, we believe that TCNS’s earnings revival would be challenging and that building scale internally could have been a good alternative for ABFRL,” said a report by Motilal Oswal. ABFRL’s net debt may rise to highest in three years In the last couple of years, ABFRL has acquired brands like House of Masaba, Sabyasachi, Jaypore, Finesse International (Shantanu &amp; Nikhil) and several others. With the latest acquisition, analysts expect ABFRL’s net debt to rise to its highest level in the last three years. In fact, the company may also have to raise money to finance the acquisition. “We estimate ABFRL’s March 2023 net debt to be much higher than our initial forecasts – perhaps at its highest level in the past three years. Over and above, the company would now need to take on additional debt to finance the cash leg of the transaction, viz purchase of 51% stake for c.₹16.5 billion,” said a report by JM Financial. Some analysts say that the list of acquisitions by Aditya Birla Fashion is just burdening its portfolio with loss-making companies. “In the last few years, ABFRL has invested in multiple new businesses, with a long tail of businesses that are presently loss-making or yet to stabilise…TCNS’s acquisition may add to that long tail,” said a report by Motilal Oswal. On Monday, shares of ABFRL closed 3.38% lower at ₹206.95 while those of TCNS Clothing ended 19.99% lower at ₹416.75 SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-brokerages-looking-up-to-59-growth-in-one97-communications/articleshow/100070477.cms">Paytm shares surge 5% on sustained Q4 growth, brokerages see up to 59% upside</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rail-vikas-nigam-marks-a-strong-journey-in-2023-share-price-of-68-to-140/slidelist/100069014.cms">From ₹68 to ₹140, this multibagger stock marks a strong journey in 2023</a>

Aditya Birla Fashion, TCNS Clothing’s shares tank on merger news; analysts say merger was not necessary

<ul><li>In an interview with Business Insider India, Luv Isrrani, an Indian celebrity wedding photographer, says people still don't respect the profession. </li><li>A wedding photo shoot can cost anywhere between ₹15,000 and ₹100,000 per day. </li><li>Compare that to the median salary for employees in the two highest paying industry in India — Power and IT — is ₹1,45,833 a month. While the per capita income for all Indians is ₹10,534 a month.</li></ul>Indian brides and grooms are wackier and experimenting with wedding looks, like floating in a pit and other ways in a bid to stay different. Others who are not as imaginative are opting to turn their special day picture perfect. It hence comes as no surprise that wedding photography is a thriving business in a $50 billion wedding market, <a href="https://www.voguebusiness.com/fashion/indian-wedding-fashion-millennials-lehenga">according</a> to Vogue India. Luv Isrrani, who shot the wedding of Indian cricketer Harbhajan Singh's wedding, says that the business has changed for the better. When he started working 15 years back, he charged ₹3500 to shoot an entire portfolio. Today, he charges ₹150,000 a day, and that is a whopping 4,200% increase. It also compared well to the median salary for employees in the<a href="https://www.randstad.in/about-us/press-releases/press-releases/fmcg-emerges-as-the-highest-paying-industry-in-india-randstad-salary-trends-study-2017/"> two highest paying industries in India </a>— energy and IT — is ₹1,45,833 a month. While the per capita income for all Indians <a href="https://www.livemint.com/politics/policy/india-s-per-capita-income-rises-10-to-rs-10-534-a-month-in-fy19-1559318636062.html">is </a>₹<a href="https://www.livemint.com/politics/policy/india-s-per-capita-income-rises-10-to-rs-10-534-a-month-in-fy19-1559318636062.html">10,534 a month.</a> The driving factor Most photographers in India do not earn anywhere close to Luv. The difference between Luv and other cameramen is his focus on weddings, which is big business in India, especially the ones involving celebrities. Every wedding is becoming more lavisher, and he has much to gain. A <a href="https://www.indiatvnews.com/lifestyle/relationships-big-fat-indian-wedding-survey-432568">recent survey revealed</a> that millennials are ready to spend a hundred thousand rupees for a typical wedding ceremony that lasts for three to four days in India. More than 20% of the female and 11% of the male agreed that they can spend ₹10,00,000 to ₹20,00,000 on their wedding. However, another survey said<a href="https://scroll.in/article/831857/the-big-fat-indian-wedding-still-survives-but-millenials-are-increasingly-opting-out">, women opt for low-cost weddings </a>as they get older. Half the people living in India are under the age of 30, <a href="https://www.voguebusiness.com/fashion/indian-wedding-fashion-millennials-lehenga">reported</a> Vogue India. While millennials are getting more thrifty, still a majority of Indian weddings cost way more than what the person can ideally afford. With people using more and more social media, brides and grooms want their wedding to be in a certain way within a certain budget, said <a href="https://www.sabyasachi.com/">Sabyasachi Mukherjee</a>, a famous fashion designer. The demonstration effect as a result of the grand celebrity wedding like Priyanka Chopra and Nick Jonas or Ranveer Singh And Deepika Padukone are adding to the desire. <div type="Article" hostid="261" msid="67150327" title="Meet the Ambanis, the richest family in Asia, who live in a $1 billion skyscraper and mingle with royals, politicians, and Bollywood stars" mstype="2" mssubtype="0"></div>
 Every business related to wedding is thriving. Anita Dongre, an Indian fashion designer, <a href="https://www.voguebusiness.com/fashion/indian-wedding-fashion-millennials-lehenga">registered an annual turnover</a> of over ₹700 crores (£82.2 million) in 2019, a 30% increase compared to last year. Indians have always been known to splurge at weddings. Even the poorest of the lot tend to save their entire life, or borrow in a huge way, to fund the weddings of their children. The stakes are much higher today. Luv is minting money as a celebrity wedding photographer. But that’s just a stepping stone. Israni is all set to be a director. He recently directed a music video with TSeries and is planning to do much more than photography. See also: <a href="https://www.businessinsider.in/the-remarkable-journey-of-byju-raveendran-from-a-teacher-to-a-billionaire/articleshow/70550817.cms">The remarkable journey of Byju Raveendran from a teacher to a billionaire</a> <a href="https://www.businessinsider.in/simba-beer-is-roaring-towards-success-with-focus-on-indias-smaller-markets-and-a-revenue-of-125-crores/articleshow/70270926.cms">A 27-year old has his own beer brand that is earning ₹125 crore just in its third year</a>

You Searched For "sabyasachi journey" and got 11 results

Here's Sabyasachi's journey of starting a brand with Rs 12,000 to becoming every Indian bride's dream

Karuna Sharma

Sabyasachi sells 51% stake to Aditya Birla Fashion

IANS

Why WhatsApp marketing could be the next big thing for digital marketers

Samarpita Banerjee

A 34-year-old Indian photographer’s income has grown over 42 times in 15 years — thanks to big, fat Indian weddings

Preeti Soni

Fintech firm Perfios becomes India's second unicorn of this year

IANS

Five gifts you can give to yourself, friends, or family, towards achieving financial independence

Ira Alok Puranik

SaaS fintech firm Perfios raises $229 mn from Kedaara Capital

BI India Bureau

'Code Name: Tiranga' makers cap first day ticket prices at Rs 100 across India

IANS

Aditya Birla Fashion, TCNS Clothing’s shares tank on merger news; analysts say merger was not necessary

Bhakti Makwana

A 34-year-old Indian photographer’s income has grown over 42 times in 15 years — thanks to big, fat Indian weddings

Preeti Soni

INTERVIEW: Nouriel Roubini talks about the future of global economy post COVID-19

BI India Bureau

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