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Friday, November 22, 2024

How an IT guy’s underwear inspired a groundbreaking business idea: The Strutt Store’s remarkable journey

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In a surprising twist of entrepreneurial inspiration, Shruti Dhanda & Vishesh Khosla, the founders of The Strutt Store, shared their unique and somewhat humorous origin story of their innovative travel brand. What began as an observation of an IT guy’s struggle at an airport café led to the creation of a business poised to revolutionize the soft luggage market.

Accidental Entrepreneur

“I’ve been an entrepreneur all my life,” Shruti begins, recalling her journey. “I started my first business in college in 2001, and it was purely accidental. It was a lot of adrenaline and energy.” After graduating from ISB in 2008, she turned down a lucrative offer to focus on her growing business, which she eventually sold in 2013. Post-sale, Shruti found herself traveling extensively, which became the catalyst for her next big idea.

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Moment of Realization

During one of her travels, Shruti had a fateful encounter at an airport. “I was sitting at a coffee shop, waiting for my flight. There was this IT guy who got a coffee and started looking for his charger in his backpack. He pulled out everything—T-shirts, undergarments, shoes—just to find his charger. I thought, ‘There’s something seriously wrong happening here.'”

This chaotic scene planted the seed for The Strutt Store. Shruti realized that there was a significant gap in the market for well-designed, functional travel luggage that wasn’t dominated by a few major brands.

Birth of The Strutt Store

Fortune smiled on Shruti and Vishesh as they set up a manufacturing unit for leather products around the same time. This led them to collaborate with Walmart, whose team conducted extensive research in the travel sector. “Every time I’m at an airport, I wonder why Walmart stores are stocked only with VIP and Samsonite products. The rest are unbranded,” Shruti explains. The numbers were staggering: INR 6,000 crore market with a 60% share of unbranded luggage. “That number blew my mind. I thought, how is there no single brand in this huge market?”

Unique Market Position

Launching a travel brand just three months before COVID-19 hit could have been disastrous, but Shruti and Vishesh’s resilience and ability to pivot saved the company. “It became the biggest joke in my life,” she laughs, “but we reinvented ourselves and relaunched last year. Today, we are in a good place.”

The brand has already serviced about 100,000 travelers, with a repeat customer ratio of about 45%. It anticipates this number to triple within the next six months.

On the other hand, The Strutt Store’s soft luggage stands out in a market crowded with hard-shell suitcases. “Soft luggage is so much more than a duffle bag,” Shruti elaborates. “It’s versatile, customizable, and caters to varied needs—from gym-goers to frequent travelers.” The company focuses on quality and durability, often opting for leather and high-quality leatherette to ensure longevity. “We can’t have a travel wallet tearing in Rome,” she asserts.

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Navigating the Competitive Landscape

Selling primarily online, The Strutt Store faces the challenge of differentiating itself in a market flooded with knockoffs. “Online is a massive hunting ground for small players who copy designs,” Shruti acknowledges. “But we offer something unique—durability, quality, and a commitment to our customers. We are slightly more expensive than VIP but much cheaper than Samsonite, finding our niche as an aspirational yet affordable brand.”

Looking Ahead

Despite the hurdles, The Strutt Store is thriving, driven by a clear understanding of consumer needs and a commitment to innovation. With plans to expand their product range and continue setting trends in the travel industry, The Strutt Store is poised to make a lasting impact. “We aim to become the only soft luggage brand in the market, eventually expanding into a complete travel lifestyle brand.”

Over the next six months, the company will aggressively focus on travel accessories and essential categories and aims to enter the tech-enabled luggage market.

“We aim to enter the tech-enabled luggage market, which is a rage internationally, although we are slightly behind in this trend. Eventually, we plan to venture into the broader travel industry. We are exploring collaborations with brands, such as Ugg, and specialized travel perfume brands that focus exclusively on travel-sized fragrances. These collaborations will help us build a comprehensive fashion and lifestyle offering for our customers.”

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SnackTeam
SnackTeamhttps://snackfax.com
SnackTeam is a specialised group of editorial staff motivated to improve the lives of individuals and society. The team intends to bring the most authentic, well-researched and dependable content for you and your loved ones every day.
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