Limeroad Overcame All the Hurdles on Its Path and Became the Platform for Online Retail Opportunity for Women
Our society is transforming and growing so that it is now possible for women to live their lives the way they have always wanted. Even in the corporate world, women have come forward to control the operations of businesses by taking over leadership roles. Despite fierce competition from men, women are constantly evolving and proving that they are far more superior to men with better administrative and operation skills. India has given birth to some powerful and successful businesswomen who are turning every stone in their respective industries. The online retail opportunity for women is thriving and becoming an inspiration for many young girls in the country. These women are not only fearless but also possess inner peace and prosperity like goddess Brahmacharini. One such businesswoman is Suchi Mukherjee, who has seen several ups and downs in 2012. Suchi has successfully created LimeRoad, which is the country’s 1st online site for women can shop exclusively. Currently, heading as CEO of the company, she is scaling the business through technology and a superior level of customer satisfaction. Suchi was nominated at the World Women’s Forum Paris in 2010, as the “Rising Talent – Global Leaders Under 40”. The recognition was because of her efforts to formulate a business that can affect women’s lives through technology.
The Starting Point
Suchi hails from a middle-class family where her parents have always inspired her to dream big. To make the best of every opportunity given by her parents, she went to Cambridge University to complete her maths and economics course. She continued to pursue her study to get her master’s degree from the London School of Economics in the field of Finance and Economics. Soon after completing her education, she joined Lehman Brothers Inc at the age of 25. She joined the company as a Senior Associate in the finance department. In her journey to seek success, Suchi joined a new company, Virgin media, as the director of Change and Business Development in 2003. eBay was the next company which she joined to understand how business works in the real world. She was in the hierarchical position of being a Director and member of Executive Management. All this was possible because these companies tend to open the door to online retail opportunities for women.
It takes a lot of confidence and perseverance to dream big and make it into reality. Suchi got the inspiration to start a new company when she was going through a magazine and wanted to purchase the same piece. However, she couldn’t find out the seller. This made her understand the market gap and how other ladies also do not get their desired products. Then, she launched a new venture as a one-stop-shop for the ladies. It is India’s biggest e-commerce website, called Limeroad. It has all the products that women can desire for.
Prosperity of Limeroad
Spending all these years while working with big corporate companies, she enhanced her precision and instant decision-making ability. This has evolved her entrepreneurial personality and capability to a great extent. Whenever she faced a situation where she needed to get onto her toes and think progressively, her professional culture and commitment held her to ignite the fire within her. Nothing was very smooth for Limeroad when it was being launched. There were high expectations that people had from this new E-Commerce shopping portal.
Limeroad was determined to bridge the two significant gaps:
- Firstly, to implement technology in such a way that it makes simpler and manageable for the women to obtain local merchandise they are looking for.
- Secondly, it aims to provide the data about the trader along with the manufacturing location.
Suchi has excelled in filling the gap by comprehending female consumers’ demands and how they process their thoughts while shopping to reduce the options by applying the filter.
It was not easy to find the root solution to these issues that she manages to do with her commitment and hard work. In her research about the Indian market, she discovered that apparels, jewellery, and watches are the widely purchased items. Further, India manufactures 21% of the lifestyle items. Gradually, it was found that there were a lot of vendors who failed to reach the target consumers even after having the capacity to fulfil the demands. This was when Suchi decided to return to India and connect them to every corner of the country.
Overcoming Obstacles to Attain Success
Even though the developing economic market of India provides an online retail opportunity for women, that does not make it any easy for new entrepreneurs to set up their business. Since Suchi was new to this entrepreneurial world, she was not aware of the legal procedure required to set up the company in India. Being a family-oriented person, she also had to face balancing her professional and personal life. However, her family gave their best support to her so that she can excel as a businesswoman.
Setting Up the Road to Prosperity
Suchi had lots of things to manage single-handedly when she began to execute the plan of Limeroad. At this time, she met Ankush Mehra, who worked with Reliance Hypermarkets as the Head of Supply Chain. Ankush accepted the proposal of being the co-founder of her company. The team later welcomed Prashant Malik as the technical head who had already worked with big corporations like Facebook and Microsoft.
Gradually, Limeroad began to incorporate budding women entrepreneurs, giving an online retail opportunity for women. The company started to sell handmade and art items produced by women in India.
Suchi believes in giving opportunities to new talent and helping women rise above and beyond the social norms. Her idea to involve females in her squad has made Limeroad an ultimate shopper’s stop. Women are the face of the company as they have taught their revolutionary beliefs to create Limeroad.
Limeroad Has a Long Road to Go
Suchi is the proud recipient of the “Women of the Yearby Digital Business2015” by INFOCOM as well as the “NDTV Unicorn Woman Entrepreneur of the Year 2016” award. To attain beyond 400 million cell phone users, including 40-50% females, Limeroad is continually trying to bring about the change in the lives of women by being a prominent online market today. Suchi Mukherjee is not just a name; she is the creator of India’s first women-oriented shopping portal.
3E Accounting can help you by giving advice and support from the moment you decide which type of business you want to set up. Get in touch with us for further information.
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3E Accounting India is a corporate service provider and accounting firm assisting clients with company formation and incorporation. We offer company secretary and business-related services in India.
