Raj Shamani - Mukesh Bansal

1)    Mukesh Bansal made Myntra a style quotient model by making a lobby where employees wore new fashion dresses and could flaunt their style.

2)     Mukesh acknowledges that fitness is a great stress buster and is a strong antidote to all kind of mental issues.

3)     Mukesh worked in 4 different startups as a software engineer and product manager due to which he got a lot of exposure in terms of seeing founders, investor dynamic which helped a lot, later in building his own brand.

4)     Mukesh also explains when he thought of building Myntra as a personalized brand which he later thought to be a very niche idea. Myntra started as a brand which used to sell customized t-shirts which got it’s brand recognition from advertising in IPL and later corporate gifting and also made into 2011 World Cup , and laterc ollaborated with Nike, Adidas in making customized sports apparels. Mukesh explains of how he convinced brands like Arrow, Benetton to put their stock for sale in Myntra, he explains how he has used other popular brands to bring traffic to Myntra and personal brands for profitability.

5)     Mukesh explains the difference between US and India customers – where he mentions that there in no actual difference between customers between India and US as at the end of the day all of them see value for money products saying that he also acknowledged that US customers are exposed to retail culture from a long time and credit penetration is high in US when compared to India.

6)     Mukesh explains how brands play a role in part of identity of who you are, it’s a status symbol also. Brand loyalty is equal both in India and US, but brand readiness and willing to pay for a brand is evolving in India still.  Mukesh explains about brand building

– Brand has to stand for something.

- Brand has to be trustworthy, best example for brand trustworthiness is TATA as how TATA goes out of their way across everything they do, to make sure their trust is not eroded no matter what, which leads to unflinching trust.

- Brand should evolve, but not lose their core

- Employees should use your product first before the consumers like how Nike makes it’s employees it’s fanatic followers of it’s brand's products.

  Raj Shamani provides examples of brand loyalty like Dove, RedBull, Royal Enfield...

7)  Mukesh explains of how India is able to stand shoulder to shoulder with anyone in the world and has all the potential to become the next super power in India, he also explains of how to stand out amongst the competition, that is by building trust,by providing example of how Nykaa built it’s trust.

-  he also explains of building brand’s trust by starting very narrow, finding a niche and building a 1000 satisfied customers initially.

- third step of brand building i.e., authenticity by staying true to your core, “Brand building is a very slow, careful, relationship built over a period of time by staying authentic to who you are…

-  Brands should provide hassle free product to their customers.

-  Role of emotions in building a brand– brands helps in flaunting your lifestyle which is sort of communication of your lifestyle

-  Some categories are pure commodity based, you can not differentiate on product.

8)  Mukesh explains of why Calvin Klein is his favourite brand as it fits him perfectly to his body and he likes understated style which Calvin Klein provides.

9) Best thing about Myntra is how Myntra has made shopping fun. Best thing about Cult is how it created group class format by forming community by which energy is created .

10)  Biggest mistake in Myntra – while niche is good, you should be also able to grow the niche

- team dynamics – know how to maintain a team and when to take hard calls even if he/she has played a role in building the startup.

- Biggest change in Cult is when they bring out a new scheme called cult pass where they collaborated with traditional gyms which plays a major role in growing Cult.

11)  Mukesh explains that India will be immune to recession as we have organic domestic demand domestic investment

-  Recession is a time where good companies get filtered and how there is low pressure on investors.

12)  Mukesh explains how investing in health is the most important thing. “If you don’t take care of your body, where do you intent do live” .

- Consistent progression is a key to increase stamina in the body.

- Use it / lose it – Our body is a very efficient machine if you use it properly you can create wonders in the world, if not, your body regresses gradually.

- Simple rule of being fit is to always move

- Increase heart rate

-  Lift weights

- Ideal workout process  is by having a fixed time for working out and have a trainer if possible.

- Take zoom call meetings by standing which helps you to be precise, you will be more specific and you will be doing more favour to your body

-  Sitting is the new cancer

- Hacks for health – do 1 minute plank  and exposure to hormesis helps in maintaining good health.

- Mukesh take on Nootropic that Nootropic should not be taken as they can be habit forming and can lead to change in neurotransmitter which further leads to damage in functioning of the body.

- Meditation should be passive in nature.

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13)  Mukesh explains of why India is the diabetes capital of India because we have adopted Western lifestyle in a very big way and the gap between lifestyle and physical inactivity has lead to India being diabetes capital in the world.

14)  Best advice Mukesh has gotten so far is to "Take a simple idea but take it seriously".

-  Mukesh’s worst advice he has gotten so far your that your time has ended but he also ackmowledges that no time is too less to build something great.

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