Birla’s first venture was Svatantra Microfin Pvt Ltd.
Ananya Birla, daughter of leading industrialist Kumar Mangalam Birla, launched her second venture CuroCarte on Thursday in Mumbai.
CuroCarte is an inventory-based luxury portal that curates handmade products from many countries and sells these products in India. The website of CuroCarte will go live on September 11.
Over 1500 decorative and utility products sourced from different countries including India, Spain, Portugal, Vietnam, Thailand, Morocco and France will be sold through the website.
“We curate these products directly from the makers and are trying to organize the unorganized market through technology. The target age group, according to research, is 28 onwards, as it is a premium platform and requires high disposable income. But I feel that it will be pulled down to 25 onwards,” Birla told Forbes.
Birla’s first venture, Svatantra Microfin Pvt Ltd, a Mumbai-based start-up microfinance institution (MFI) that provides financial assistance to women in rural areas of Maharashtra and Madhya Pradesh is expected to break-even this year.
The price of products sold by CuroCarte ranges from Rupees 7000 to 12000. But, unlike other e-commerce platforms, CoroCarte will not offer huge discounts and offers.
“With a global business model that caters to both Indian and global audiences, we will eventually break even. We don’t work on discounts and have a completely inventory-based system,” Birla, 22, was quoted as saying by The Economic Times.
Apart from the products curated from different countries, CuroCarte has an in-house team of designers who will work with makers to create exclusive products for the startup.
The products hosted by CuroCarte include phone covers made from walnut wood, intricate lamps, cutlery, wall decor, crockery, jewelry boxes, and bags. The products that are in stock will be delivered within three to seven days. On the other hand, it will take 45 to 90 days for the products to be made.
As per the expansion plan of Birla, the company will add a new country every two months for sourcing products. The company will operate on both B2B and B2C models.
The third scion of the renowned Birla family, Ananya established Svatantra Microfin Pvt Ltd on February 17, 2012. Born to Neerja and Kumar Mangalam Birla, she was graduated from the University of Oxford. She has a master in economics and management.
Initially funded by Aditya Birla Group, Svatantra offers the lowest interest rate in the country and now operates 40 branches in 21 districts of Maharashtra and Madhya Pradesh.