Desi Hangover in 2020 made a total sale of more than 5 lakh shoes and earned a revenue of over 3 Crores INR. Furthermore, they have hired more than 30 artisans from Athani and transformed the dying art of shoemaking into one of the most sought after professions in the village. It has been selected by the Stanford Seed Program and supported by the Acumen Fund. Hitesh is currently based out of San Francisco with UC Berkeley, Abha is based out of Seattle which is overlooking the USA operations, and Lakshya is based out of Singapore to oversee Asia Operations. Desi Hangover currently has 51 Outlets across 7 countries. The credit of the success of Desi Hangover goes to the patient validation of the problem statement and finding the right time to leverage and maximise the opportunity.
Desi Hangover in 2020 made a total sale of more than 5 lakh shoes and earned a revenue of over 3 Crores INR. Furthermore, they have hired more than 30 artisans from Athani and transformed the dying art of shoemaking into one of the most sought after professions in the village. It has been selected by the Stanford Seed Program and supported by the Acumen Fund. Hitesh is currently based out of San Francisco with UC Berkeley, Abha is based out of Seattle which is overlooking the USA operations, and Lakshya is based out of Singapore to oversee Asia Operations. Desi Hangover currently has 51 Outlets across 7 countries. The credit of the success of Desi Hangover goes to the patient validation of the problem statement and finding the right time to leverage and maximise the opportunity.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
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Transcribed Image Text:Desi Hangover Today
Desi Hangover in 2020 made a total sale of more than 5 lakh shoes and
earned a revenue of over 3 Crores INR. Furthermore, they have hired more
than 30 artisans from Athani and transformed the dying art of shoemaking
into one of the most sought after professions in the village. It has been
selected by the Stanford Seed Program and supported by the Acumen Fund.
Hitesh is currently based out of San Francisco with UC Berkeley, Abha is
based out of Seattle which is overlooking the USA operations, and Lakshya is
based out of Singapore to oversee Asia Operations. Desi Hangover currently
has 51 Outlets across 7 countries.
WADHWANI
FOUNDATION
The credit of the success of Desi Hangover goes to the patient validation of
the problem statement and finding the right time to leverage and maximise
the opportunity.
Transcribed Image Text:6:00
cdn.fbsbx.com
To test this further, Hitesh thought to further validate the market by
implementing a Fake Door Strategy.
Done
While experimenting with the pricing and the product, Hitesh argued that
their product should have originality. They understood that their customers
cared about footwear that was lightweight, handmade, leather, versatile
and most importantly, comfortable. This revelation led Abha to sketch
different footwear designs and talk to Gurunath, the artisan who made the
first batch of footwear. What emerged from this exercise was a unique shoe
that had the intricacy of a traditional Kolhapuri chappal, the finest quality
leather and yet comfortable and lightweight at the same time. They thought
of applying the fake door strategy at an upcoming exhibition in Chandigarh,
India, with this first batch.
Fifteen shoes with the new
designs were shipped to
Chandigarh for the exhibition.
Lakshya managed to sell almost all
the footwear in a half-day, and
then he decided to implement the
fake door strategy. He retained
one footwear out of the batch to
collect pre orders.
Fake Door Strategy
Whenever a person came to inquire about the product, he showed them
this last remaining pair and asked them to pay 50% of the amount as a
preorder. In this way, he validated that there is an organic demand and
ensured that sales keep happening. At the end of the exhibition, they
collected over 70 orders, which was the validation they needed.
WADHWANI
FOUNDATION
These 70 orders also meant that there was advance cash paid against
the orders. This advance was the perfect start for them to know that
there is a validated Opportunity. After graduating from college, Hitesh
and Lakshya did not sit for their placements but started their own
footwear company. Abha, Hitesh's professor, soon joined the team as
well.
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