Interview with Kaustubh Gupta: Entrepreneur and Bag Manufacturer
In the bustling city of Kanpur, Kaustubh Gupta has emerged as a dynamic entrepreneur and the proud proprietor of Raman Bags. Hailing from a family with a rich business background, Kaustubh’s journey into the manufacturing industry reflects his passion for crafting high-quality, stylish bags. As the driving force behind Raman Bags, he has successfully navigated challenges, prioritized innovation, and built a brand that stands out for its commitment to quality and customer satisfaction. Beyond the boardroom, Kaustubh finds solace in the invigorating world of swimming, seamlessly balancing the demands of his business with his personal interests. Join us as we delve into the story of Kaustubh Gupta, the visionary behind Raman Bags.
Kaustubh Gupta embarked on his entrepreneurial journey after graduating with a degree in Mechanical Engineering. His foray into business began in 2015, driven by a belief that his engineering background would pave the way for success. Starting as a door-to-door salesman during his second year of college, Kaustubh sold an array of products such as belts, wallets, watches, and shoes sourced from Mumbai to the vibrant city of Bangalore. Leveraging platforms like WhatsApp, Quikr, OLX, Facebook, and Instagram, he swiftly expanded his customer base, providing top-notch services and quality merchandise, yielding significant profits.
Realizing the transient nature of his initial venture, Kaustubh transitioned into the paper bag manufacturing industry in 2017, capitalizing on the growing demand due to the ban on plastic. With an initial investment of 2 lakh rupees and no dedicated team, he single-handedly managed all facets of the business, from procurement to production, even hiring housewives for part-time home-based jobs. Despite facing formidable challenges and financial setbacks, Kaustubh persisted, driven by his determination to carve his path and gain firsthand experience of the rigors of entrepreneurship.
However, the paper bag venture proved to be financially unsustainable, resulting in losses of 4-5 lakh rupees accrued from his previous successful replica business. Recognizing the need to regroup and enhance his skills, Kaustubh made the decision to return to his familial business in August 2018, with a renewed focus on aiding his father’s enterprise while further honing his entrepreneurial acumen.
Interviewer: Good day, everyone! Today, we have the pleasure of sitting down with Mr. Kaustubh Gupta, a successful entrepreneur from Kanpur, who is the proud owner of Raman Bags. Let’s dive into his journey and learn more about his experiences.
How did you venture into the business of manufacturing bags?
Kaustubh Gupta: Well it all started with a training period from highly experienced personality from understating the raw materials then the production line and moving on to understanding the market and then demand of end consumers. I saw a gap in the market for durable and trendy bags, and that’s how Raman Bags came into existence.
What sets Raman Bags apart from other bag manufacturers?
Kaustubh Gupta: Our focus on quality materials, craftsmanship, reasonable pricing , variety and attention to detail make Raman Bags stand out. We prioritize customer satisfaction and aim to provide products that last.
Can you share some challenges you faced in establishing your business?
Kaustubh Gupta: Like any business, there were hurdles, especially in the initial stages. Securing reliable suppliers and gaining customer trust were key challenges, but persistence paid off.
How has your background influenced your approach to entrepreneurship?
Kaustubh Gupta: Coming from a business-oriented family instilled in me a sense of responsibility and the importance of hard work. It provided a solid foundation for my entrepreneurial journey.
Any advice for aspiring entrepreneurs in the manufacturing industry?
Kaustubh Gupta: Stay passionate, be adaptable, and always prioritize quality. Also, build a strong network – connections can be invaluable in the business world.
Tell us about the most rewarding moment in your business journey so far.
Kaustubh Gupta: Seeing someone carrying a Raman Bag on the street and knowing they chose our product among many – that’s a rewarding feeling. It validates our hard work.
How do you balance your professional life with your personal hobby of swimming?
Kaustubh Gupta: Swimming is my stress-buster. I ensure to allocate specific time for it, whether it’s early morning or in the evening. It helps me rejuvenate and stay focused.
How do you keep up with the latest trends in the bag industry?
Kaustubh Gupta: Attending trade shows, collaborating with designers, and closely following fashion trends help us stay ahead of the curve and offer products that resonate with our customers.
What is the key factor that contributes to the success of Raman Bags?
Kaustubh Gupta: I believe it’s a combination of quality, innovation, and customer satisfaction. Listening to customer feedback and continuously improving our products play a vital role.
How do you foster a positive work culture within your company?
Kaustubh Gupta: Open communication, mutual respect, and recognizing and rewarding hard work are crucial. A positive work environment leads to motivated and dedicated employees.
What’s your vision for Raman Bags in the next five years?
Kaustubh Gupta: I envision Raman Bags becoming a recognized global brand, known for its commitment to quality and style. Expanding our product line and market reach is part of the plan.
How do you stay resilient during tough times in the business world?
Kaustubh Gupta: Understanding that challenges are part of the journey helps. Staying focused on solutions, rather than dwelling on problems, is key to resilience.
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How do you stay connected with your customer base?
Kaustubh Gupta: Social media platforms and customer feedback play a significant role. We actively engage with our customers, address their concerns, and use their input for product improvements.
What’s the most innovative product Raman Bags has introduced recently?
Kaustubh Gupta: We recently launched a line of smart bags with integrated charging ports and anti-theft features. Embracing technology in our products keeps us innovative.
Any CSR initiatives that Raman Bags is involved in?
Kaustubh Gupta: We are committed to sustainability. Raman Bags is actively involved in eco-friendly practices, from sourcing materials to minimizing waste in our production processes.
How do you see the future of the bag industry evolving?
Kaustubh Gupta: Sustainability will play a crucial role. Consumers are becoming more conscious, and the industry needs to adapt by prioritizing eco-friendly materials and practices.
Your favorite bag from the Raman Bags collection?
Kaustubh Gupta: That’s a tough one! I’d say the Voyager Backpack. It combines style, functionality, and durability – perfect for both business and leisure.
How do you incorporate customer feedback into product development?
Kaustubh Gupta: Customer feedback is invaluable. We regularly gather input through surveys and reviews, and it directly influences product enhancements and new designs.
Any upcoming collaborations or partnerships for Raman Bags?
Kaustubh Gupta: We are currently exploring collaborations with fashion influencers and designers to bring unique and exciting collections to our customers.
A book or a quote that has inspired you in your entrepreneurial journey?
Kaustubh Gupta: “The Lean Startup” by Eric Ries has been a guiding light. It emphasizes the importance of adaptability and continuous improvement in business.
How do you keep your team motivated and aligned with the company’s vision?
Kaustubh Gupta: Regular team meetings, setting clear goals, and recognizing individual and team achievements contribute to a motivated and aligned workforce.
What role does innovation play in the success of Raman Bags?
Kaustubh Gupta: Innovation is at the core of our success. Constantly exploring new materials, designs, and features ensures that Raman Bags remains a trendsetter in the industry.
A memorable customer interaction that stands out in your mind?
Kaustubh Gupta: Once, a customer shared a heartfelt letter expressing how our bag accompanied them on significant life events. Such personal connections make our work meaningful.
How do you handle competition in the bag industry?
Kaustubh Gupta: Healthy competition keeps us on our toes. We focus on what makes Raman Bags unique and continuously strive to improve and exceed customer expectations.
What’s the best piece of business advice you’ve ever received?
Kaustubh Gupta: “Success is not final, failure is not fatal: It’s the courage to continue that counts.” – Winston Churchill. This advice has guided me through various ups and downs.
How do you see the role of e-commerce in the future of Raman Bags?
Kaustubh Gupta: E-commerce is integral to our growth. We are investing in online platforms to reach a wider audience and provide a seamless shopping experience.
Any final thoughts or messages for our audience?
Kaustubh: Thank you for the support. Raman Bags is not just a brand; it’s a journey. We look forward to continuing this journey with our customers and creating products that enhance their experiences.
