Biography of Bharat Ranka: Founder of Ethik- Entrepreneur
Journey of Bharat Ranka:
Bharat Ranka is the co-founder of Ethik, a unique
non-leather fashion brand based in Bengaluru. He has a solid background in
business management, having studied at the Welingkar Institute of Management
and the H.R. College of Commerce & Economics. With experience as a brand
consultant and angel investor, Bharat has been actively involved in the
entrepreneurial landscape since 2017.
Ethik’s Vision
Ethik was launched in January 2018 with a vision to provide
stylish and sustainable alternatives to traditional leather products. As a
premium brand, Ethik aims to offer consumers fashionable options that are both
cruelty-free and environmentally friendly. The brand seeks to address the
growing concern over the environmental impact of the fashion industry,
particularly fast fashion.
The Shark Tank Experience
Ethik's journey gained significant visibility when they
participated in Shark Tank India, seeking ₹15 lakhs for 5% equity. Although
they did not secure a deal, the exposure helped them reach a broader audience
and launch a revamped website. This experience was valuable for the brand,
providing them with insights into consumer preferences and market trends.
Understanding Consumer Psychology
Bharat emphasizes the importance of understanding consumer
psychology. He candidly shares that convincing people about environmental
issues can be challenging. He believes many shoppers prioritize aesthetics,
comfort, and affordability over sustainability. This insight is crucial for
brands looking to promote eco-friendly products in a market that often favors
conventional choices.
The Reality of Sustainability in India
Bharat highlights a common sentiment among consumers: the
belief that individual actions may not significantly impact the planet. Many
people feel they can defer concern for future generations, leading to a
hesitance in embracing sustainable practices. This mindset poses a challenge
for brands aiming to promote environmentally conscious choices.
Biography of Bharat Ranka: Founder of Ethik- Entrepreneur/stylish, non-leather, and sustainable fashion alternatives/age/net worth/investor/Ethik
The Price Factor
He points out that affordability plays a major role in
consumer decisions. Many eco-friendly products tend to be more expensive, which
can limit their appeal. For a brand like Ethik to thrive, it must offer
high-quality, durable products that justify their price point while remaining
accessible to a wider demographic.
Quality over Quantity
Bharat stresses the importance of quality in sustainable
products. Ethik's offerings are designed to last longer than typical
fast-fashion items, which often fall apart within months. By using high-quality
materials, Ethik aims to shift consumer perception about sustainability,
showing that eco-friendly products can also be durable and stylish.
The Indian Footwear Market
Bharat shares some interesting statistics about India's
footwear market, noting that the country accounts for a significant portion of
global foot traffic. With 80% of the Indian population using synthetic
materials like Rexine and PU, there is a tremendous opportunity for brands like
Ethik to introduce sustainable alternatives in this vast market.
A Growing Movement
The movement toward sustainability in India is still in its
early stages, but it's gaining momentum. In recent years, there has been an
increase in awareness and acceptance of sustainable products. Bharat believes
that as education and knowledge spread, more consumers will begin to question
their purchasing choices.
Looking Ahead
Bharat is optimistic about the future of sustainability in
India. While the country may lag behind regions like Europe and the U.S., the
demand for eco-friendly products is on the rise. The key for brands will be to
offer products that meet consumer expectations for quality and price,
regardless of their materials.
Conclusion
Through his work at Ethik, Bharat Ranka exemplifies the
balance between fashion and environmental responsibility. By understanding
consumer behavior and emphasizing quality, he aims to make sustainable choices
more appealing to a broader audience. Ethik is not just a brand; it's part of a
larger movement towards a more sustainable future in the fashion industry.
Timeline for Bharat Ranka and Ethik
2017 - Bharat Ranka engages in the entrepreneurial landscape
as a brand consultant and angel investor.
January 2018 - Launch of Ethik, focusing on stylish,
non-leather, and sustainable fashion alternatives.
2021 - Ethik participates in Shark Tank India, seeking ₹15
lakhs for 5% equity, gaining visibility despite not securing a deal.
2021 - Revamps the brand's website post-Shark Tank,
enhancing consumer engagement.
2022 - Emphasizes the importance of understanding consumer
psychology regarding sustainability.
2022 - Highlights challenges in promoting eco-friendly
products due to affordability issues.
2022 - Advocates for quality over quantity in sustainable
products, showcasing Ethik's durable offerings.
2022 - Shares insights on the vast opportunity in India's
footwear market for sustainable alternatives.
2023 - Observes a growing movement towards sustainability in
India, with increasing consumer awareness.
2024 - Remains optimistic about the future of eco-friendly
products, aiming to balance quality and price to appeal to a wider audience.
