Founded by Rakesh Kukreja and Swati Mohindru Kukreja in 2017, with the vision to enrich lives, MYSWA Ventures Pvt Ltd offers a wide-ranging product portfolio from healthcare to electronics.
Despite being hit hard by the lockdown, MYSWA substantially invested in joining the pandemic response in the private sector, onboarding a whole new COVID-19 related product line. In an exclusive interview, founder Rakesh Kukreja talks about the brand, the offerings, the impact of the pandemic, and long-term strategy to bounce back from the current crisis.
Q: Please tell us about MYSWA Ventures?
MYSWA symbolizes WE CARE FOR YOU. Our mission is to help our customers improve the quality of their daily life.
For the healthcare space, we have brands like MYRA Physiocare which offers Specialty Physiotherapy and the newly launched MYSWA Wecare which boasts a product assortment that includes 3Ply & N95 Face Masks from our own manufacturing unit located in Delhi. Next in our healthcare pipeline will be a foray into the hygiene sector with the vision of bringing affordable quality products to world markets.
Our electronic portfolio has a variety of products from daily utility charging cables to speakers, headphones, and car air purifiers. We have Amazon’s subsidiary company Appario Retail Private Limited as our sales sourcing partner. To further scale up our offerings and strengthen our portfolio, we have recently partnered with a Delhi-based electronics products manufacturer.
Q: How has the pandemic-induced global economic lockdown impacted you?
We come under the section of companies directly impacted by the pandemic. Our service portfolio business MYRA Physiocare is down due to the high-risk factors. However, that hasn’t left us helpless. Instead of being bogged down, we are implementing a new strategy to reach and cater to our valued patients via an application. We are also empanelling a new team of doctors to improve the service factor.
For consumer products, sales are down across brands due to COVID 19. But looking at the current picture, we expect a revival in the next three months
Despite the setbacks, we are optimistic about our vision and are confident that MYSWA will rise as a strong consumer-centric company that customers see as a trustworthy and valuable brand. We aim to become a Public Limited Company via the IPO route by 2025.
Q: From the CEO’s perspective, what are the biggest challenges in the future for the distribution setup?
Distribution challenges can be mitigated via e-commerce alignment. e-commerce is a new way of doing business in India. We have already tied up with Amazon’s subsidiary companies such as Cloudtail India Pvt Ltd & Appario Retail Pvt Ltd for the distribution of products on platforms.
From the general trade aspect, –distribution setups require huge funds and availability of Human Resources. The key to tackle this is onboarding the needed team at the right time to scale up efficiently.