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Meet Minu Margeret: After two failures, she has achieved an ARR of Rs 100 crore

In a world where comfort meets functionality, the story of Minu Margeret and BlissClub stands out as a testament to entrepreneurship, resilience, and the relentless pursuit of excellence. 

As a fitness enthusiast, she couldn’t find activewear in India. 

This inspired her to start BlissClub, empowering women to embrace their active lifestyles with confidence and style. 

Now, BlissClub has become a 100 crore revenue company.

Recognizing a Gap in the Indian Market: 

Just like lots of other women, Minu Margeret was annoyed because she couldn’t find good activewear in India

She loved staying active but had trouble finding clothes that worked well for her active lifestyle. So, she decided to do something about it. 

Minu wanted to change the activewear game for women all over India.

Early Life And Entrepreneurial Spirit: 

Minu Margeret, who studied at Christ University and got more qualifications from the Chartered Institute of Management Accountants in the UK, kept being driven by her dream to start her own business.

Minu’s journey as an entrepreneur started when she worked at top companies like Goldman Sachs as a business analyst in 2011 and later at Wipro as a senior pricing analyst by the end of 2012. 

But her drive for entrepreneurship was strong. She wanted to chase her dreams, so she ventured into different projects. 

Inspired by the success of the American company Rent The Runway, Minu ventured into the fashion industry with “Rent Your Wardrobe”. This company provides branded clothing for rent to people.

Despite facing initial setbacks, including the closure of her first startup, Minu remained undeterred. 

Margeret didn’t let failure stop her. She started another business, an automated laundromat for colleges near Bengaluru. 

At first, everything seemed promising. There was demand, and Margeret was meeting it. But despite her efforts, the business didn’t succeed. 

It was through these challenges that she discovered her true calling in activewear and laid the foundation for BlissClub.

Introducing BlissClub: A Community-Driven Vision: 

Founded in 2020 during the COVID-19 pandemic, Minu started BlissClub as an Instagram page.

During a time when individuals were confined to their homes, she, being a fitness enthusiast, began sharing content about fitness and yoga. 

Throughout this period, she amassed more than 18,000 followers on the page and also recognized the demand for activewear.

BlissClub emerged as a beacon of innovation and inclusivity in the activewear landscape. 

With a dedicated focus on crafting exceptionally comfortable and functional activewear for women, BlissClub quickly gained traction in the market.

BlissClub has raised $20.25 million to date, including a Series A round of $15 million in May 2022 led by Eight Roads Ventures and Elevation Capital, along with $3 million in debt from Stride Ventures. 

This fundraising marks one of the largest Series A rounds by an Indian direct-to-consumer brand, coming less than a year after BlissClub secured $2.25 million in seed funding from Elevation Capital in May 2021. 

Quote Of Minu Margeret
ScreenShot of MyBlissClub

BlissClub also boasts notable angel investors, including Sriharsha (CEO of Swiggy), Ghazal Alagh (Mamaearth), Vivek and Abhay (co-founders of Licious), Amar (former CEO of Myntra).

Sumer Juneja (Softbank), Brennan Loh (Shopify), Neeraj Arora (former CBO of WhatsApp), Kunal Shah (CRED), Rahul Mehta (DST), Pam Lee (former Lululemon executive), Ashish Goel (CEO of Urban Ladder), and Chakradhar (CEO of Country Delight).

Rapid Growth and Market Recognition: 

Despite facing obstacles along the way, BlissClub’s dedication and perseverance paid off. 

Within a remarkably short span, the company’s revenue soared, signaling its rapid ascent within the industry. 

Achieving an annual recurring revenue of Rs 100 crore within 18 months underscored BlissClub’s impact and market recognition.

With a diverse range of over 30 hero products and a burgeoning online presence, BlissClub continues to innovate and expand its offerings. 

It has grown 40 times since the seed round in May 2021, boasting a high repeat rate of 40% and low product return rates of 3-5%, compared to the industry average of 35%.

In addition to its online platform, the company has ventured into offline retail, establishing two brick-and-mortar stores to cater to its growing customer base.

Conclusion: 

As we reflect on the incredible journey of Minu Margeret and BlissClub, we are reminded of the transformative power of entrepreneurship and the limitless potential of those who dare to dream. 

Through innovation, determination, and a relentless pursuit of excellence, Minu Margeret has not only revolutionized activewear in India but also empowered women to embrace their active lifestyles with confidence and style.

FAQs: About Minu Margeret

Q.1 Who is Minu Margaret’s husband?

Minu Margaret’s husband is Vidit Aatrey, the founder and CEO of Meesho.

Muskan, a passionate storyteller and social media manager at Startup Forte. With a talent for sharing impactful founder stories, she invites you to explore inspiring journeys with us.

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