“Entrepreneurship is as good as a rollercoaster ride where there are ups and sudden downs. If we have the required passion and dedication, the ride will be fun!” – These are Vaibhav Jain’s valuable words for rising and passionate youngsters who are just starting.
Vaibhav Jain is the founder and director of Tynimo, a lifestyle brand that sells high quality, appealing and trendy products at aﬀordable prices. They provide a wide range of well-designed products. The USPs of Tyniom are affordable pricing, differentiated-quirky designs, and Indian artefacts. This first fast-fashion lifestyle brand also promotes Indian-made products worldwide- a platform to give an identity to this country’s art and culture. They also operate on the store-on-wheels facility, a first of its kind in the retail industry.
In this interview with Business Upside, Vaibhav Jain discusses his entrepreneurship journey with Tynimo. He also shares his concept of business, mission, methodology, lessons he learned, business strategies, recruitments, his most satisfying moment, management style and future goals, etc.
Edited Excerpts from the Interview
Business Upside [BU]: How did you get your idea or concept for the business?
Vaibhav Jain [VJ]: Regular business and leisure trips to Southeast Asian countries led to a fascination for starting a business in the retail sector. Quite simply put, the idea was to bring a revolution in the retail industry and to start a lifestyle brand that sells high quality, appealing products at aﬀordable prices.
Thus 2019 marked the genesis of Tynimo as a differentiated concept, promising a refreshing experience with innovative and trendy products.
[BU]: What was your mission at the outset?
[VJ]: Offer a wide range of well-designed products at reasonable and affordable prices
Provide ample opportunities for all stakeholders to ensure fast and progressive development.
Promote Indian-made products on the world- platform.
[BU]: How do you market your business, and which method has been most successful?
[VJ]: With the onset of digital media, social media marketing has been the most successful way to reach our target audience.
[BU]: What is unique about your business?
[VJ]: USP – Pricing, differentiated-quirky designs, Indian artefacts
First fast fashion lifestyle brand, to give an identity to India’s art and culture by introducing them on a global platform.
Innovation across various platforms – products, people, process, customer engagement, and customer conversion.
Store on wheels – A first of its kind in retail where an entire store has been built within a 17ft truck and successfully operating currently
[BU]: What have been some of the most important lessons that have influenced how you work?
[VJ]: Never settle
Always on the toes
Learn from everyone
Think out of the box
[BU]: What do you look for in an employee?
[VJ]: Enthusiasm to learn
Presence of mind and common sense
[BU]: If you had one piece of advice for someone just starting, what would it be?
[VJ]: Entrepreneurship is as good as a rollercoaster ride where there are ups and sudden downs. If we have the required passion and dedication, the ride will be fun!
[BU]: What were the biggest roadblocks or challenges you had when you first started in the profession, and how did you overcome them?
- Right products at the right prices
- Quality vendors to set up the stores
- Brand awareness leads to low negotiation power with any stakeholder
[BU]: What has been your most satisfying moment in business?
[VJ]: A happy & satisfied shopper. Providing what a consumer is looking for in all aspects and then seeing them turn into a loyal customer
[BU]: How did you plan to provide better results in a crisis?
[VJ]: Store on wheels – A first of its kind in retail where an entire store has been built within a 17ft truck and currently operating.
Reaching out to customers at their doorsteps while maintaining all the norms simultaneously was our answer to fight back against the crisis.
[BU]: What is the next goal you wish to accomplish?
[VJ]: To launch 50-80 stores in the next 3 years
- To scale up our e-commerce business to 30% of overall sales by 2024
- To widen our Indian products range
- Build omnichannel shopping experience for our customers
- Grow the store on wheels fleet to 15 by 2025
- Company URL: https://tynimo.com/
- My Designation: Founder & Director. Tynimo