Entrepreneur: Hitmay Mutha
Business Name: BrandMines
Welcome to Entrepreneurs of India #startupstories episode 121
Top brands steal the show when it comes to fashion in India. But the high pricing of such premium brands has always always been a hurdle to most customers. You have to spend at least ₹3000-5000 to grab a shirt or footwear from a top brand. But what if you get all those premium brands at an incredible discount? BrandMines makes it possible through reverse logistics. It gives you top national and international brands at 40%- 70% discount, 365 days a year.
The merchandise they sell include footwear, clothing, accessories and much more. Moreover, the company provides 3 months manufacturing defect warranty and 6 months originality guarantee.
Within a short span of time, BrandMines has created a revolutionary shopping experience for customers by making premium brands super-affordable. It has outlets in four locations – Vapi, Valsad, Navsari, Surat and Vijayawada. How did BrandMines happen? What are the challenges in reverse logistics? Founder Hitmay Mutha shares his story.
1) How did you get the idea for this business?
Coming from a middle class family, we always wished to wear brands but just because of affordability issues we were not able to wear it.
One day while searching for an Air Conditioner at cheaper rate I found out a brand named GreenDust promoting Reverse Logistics Industry dealing with such products.
So, without any delay I applied for a Franchisee with a thought of helping the society with such goods and looking forward to the demand of such products in my town.
I owned a franchisee for two and a half years and then I planned my own brand after gaining the knowledge of reverse logistics Industry.
2) Why is “now” a good time for this idea to exist?
Looking forward to the increase in daily grocery expenses we always compromise with our lifestyle. Our Brand will take care of your pocket as well as your lifestyle brand. So it is a right time for us to exist in the market.
3) What was the reaction from your family when you first decided to become an entrepreneur?
Since I come from a Marwadi family, business has been considered a first thought. So instead of criticising they supported and appreciated me as well as they also motivated with words like “Go Ahead, We are always there to support you”.
4) What was your biggest mistake in business and what did you learn from it?
There is nothing called biggest or smallest mistake. In a business even a smallest mistake can make you suffer. My mistake was of judging the customers for their spending capacity. I learned that I should never judge any customer or anyone for their spending capacity. Just give your 100% to sell the product and the product will definitely get sold.
5) What is your biggest obstacle in the next 12 months and how will you overcome it?
My biggest obstacle is to make people aware about reverse logistics industry. Because not much people know about the reverse logistics. Also, they have a wrong perception that it deals with faulty or used or damaged goods, which is not the truth. In some way this can also be termed, but BrandMines is a platform where everything is curated and products are displayed with all guarantee and warranty schemes.
6) What habits contribute to your success?
Habit of being in touch with every resourceful person as well as habit of networking and meeting new people.
7) If you had the opportunity to start this business again what would you do differently?
If I had an opportunity to start this again, I would already be aware of the loopholes of my industry. I would definitely eliminate the loopholes known by me on the priority.
8) What is your favourite inspirational quote?
Learn. Earn. Repeat.
9) Where do you find inspiration?
I find my inspiration in my father. He was the one who made me start my entrepreneurial journey and trusted me even when I failed first. I lost him six months back.. So I find my inspiration in him as he always said ‘Don’t Worry, I am there to Support you’
10) What is your favourite book?
11) What advice would you give to someone starting out?
Be prepared for the day- to- day challenges. It can be mental, financial or any. Be surrounded by the people who support you and help you in every situation since support is the most important thing in an entrepreneur’s journey.
In entrepreneurship, it is crucial to apply your industry knowledge into business. Hitmay, as an entrepreneur, learnt the tactics of reverse logistics when he owned a franchisee of GreenDust and adopted it start BrandMines. His brand took fashion industry by storm as customers were able to pick premium brands at an incredibly affordable price.
Today, BrandMines has grown into a credible merchandise store and Hitmay is all set to expand his brand to other parts of the country.
Click here to follow BrandMines on Instagram.
Check out the recommended book now.