NIFT UG 2016 Question Paper with solutions

  Ujjval and Neha Saraf, co-owners of Brandzstorm, are entering a new phase in their business Brandzstorm, which handles luxury watch brands such as Gio Collection, Giordano, Giani Bernard Cross and Swiss Eagle in India, has signed on a five-year-deal with Super accessories. For the Sarafs this deal marks a crucial move away from being a family-owned company to one run by professionals. Neha says, “I handle the online part of the business and Ujjval, my husband, is responsible for the offline part.” Started in 2010, Brandzstorm owns and holds master licences for many brands such as Giordano timewear, Giordano travel gear, Cross Timepieces, Swiss Eagle lifestyle, Monte Michelin, Klaus Kobec, Fjord, NU Band and Giani Bernard. Having created a niche for itself in the watch category, Brandzstorm is now looking to launch eyewear and handbags with its brands in the country. The company, which has a staff of nearly 200 employees, has a turnover of ` 75 crore and is growing at the rate of 35-40 per cent annually. “While 70 per cent of our sales come from offline, the share of online sales has been steadily increasing,” says Neha. Brandzstorm’s initial deal covers Superdry’s watch collection and could extend to eyewear later. Both Ujjval and Neha belong to business families. Their fathers and forefathers were textile traders. An entrepreneur couple for the last 14 years, Ujjval started his own firm Compact International — which marketed electronic items — to earn extra cash in addition to the pocket money he received. Neha is an MBA graduate. Both were certain about two things: that they wanted to spend their lives together and that they “were least interested in their traditional family business”, according to Ujjval. He says, “I bring in my experience and Neha brings in her management and branding expertise that we put to practical use.” Brandzstorm is actively acquiring brands. Some of its recently acquired brands include Fjord and Klaus Kobec. It has also acquired the fitness brand NU Band and the Sarafs believe that this will help the company foray into the smart wearable business. While Ujjval is responsible for the company’s sourcing and overall sales, Neha takes the lead when it comes to marketing, advertising and design. “I have been designing since my childhood. I used to design my own clothes when I was five,” she says. “Earlier this year, at the India Beach Fashion Week, I launched myself as a designer with Gio Collection’s new line of watches called ‘Lust at first sight.” However, the couple hasn’t entirely rejected the old ways. They do take guidance from their families about the business. “Certain values remain the same — transparency, fairness and honesty. But the way that business is done is different now,” says Neha. Does the couple manage to keep the professional and personal separate? “We have our moments, but we are ambitious. We are two different people at work,” says Ujjval.