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From A Modest Store To A Rs 200 Cr Empire

Tuesday, August 30, 2016

Naresh Khatar, MD & Founder, Me N Moms

Naresh Khatar, M.D. and Founder of Me N Moms Pvt Ltd epitomizes the phrase ‘Nothing is impossible’ with his astonishing journey from managing a modest store to a Rs 200 crore empire that Me N Moms is today. During his 20s, Khatar, a passionate young man had a vision to create an empire, but didn't have the family money to back him up. In 1989 he launched ‘Mamta Collection’, which received an overwhelming response and made it the most sought after store in Mumbai for Baby products in no time.  He also had the foresight to set up a distribution chain for baby care products simultaneously. Gradually his distribution as well as stores spread Pan India which established the base for Me N Moms Pvt Ltd as well as the brand ‘MeeMee’ that was established in the year 2007. In conversation with Dominic Rebello, he reveals his aspiration, which is, to reach every town of India to fulfill every parent's need for baby products which are both safe as well as boasts of the best quality while being reasonably priced

What drives you?
Being a first generation entrepreneur, it is the passion to create something that has driven me. This passion translated into the vision to cater to parenting and baby care needs of a mother and baby irrespective of their budget and location. Today, Me N Moms Pvt Ltd is a Rs 200 crore empire that started from scratch and today, our company  is present at 50 unique locations which not only includes metros like Mumbai and Bangalore, but tier II and Tie III locations too. To ensure the International Quality and affordability of product lines, our brand MeeMee offers products at the most affordable prices, not only at our stores but also at 3000 stores across India. I thus believe that it’s the will that comes from passion that makes every dream possible.
 
Who would primarily be your consumer audience?
Well, India is world’s second largest populated country after China and the population is growing at the rate of 17.5% as per the data of 2016. In a way, the parenting and baby care industry too is growing at the same pace. On the other hand, though there are so many players in the market, nobody is offering International Quality along with affordability and reach like ours. Our target audience is very dynamic and we cater to our consumers for a limited number of years. However, right from the start when the mother is expecting till her child is 3 years old, we cater to each and every requirement by providing products for the needs of both.  

As I said, India is one of the biggest markets for this segment due to the population growth; however, the awareness to use safe and hygienic products for babies and mothers is very low compared to international especially first world markets. In India, a mother in a small town is not aware of the benefits of breastfeeding her baby and follows traditional advice in case of problems faced. Also, high prices of specialized products keep them restricted to the upper echelon of the society.

How do you plan to scale up?
Me N Moms Pvt Ltd is a homegrown entity so far raising funds through internal accruals. We work on COCO and FOFO mode. We have created 50 landmark outlets and are aiming to create 15 more before 2016 ends. We will scale up operations, but we will be evaluating all available options for future growth.

Where do you see yourself five years down the road?
As I said earlier, it is our vision to reach out every mother and baby of the country to cater to their parenting needs and let them experience the joy of parenting. We want to be the most loved brand in the parenting and baby care segment across the country.

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