One thing you can say for sure about Preeta is that she breathes fashion. And her personal & professional life resonates with this fact. A Bachelor of Arts in Economics, Preeta has worked with many fashion, lifestyle & entertainment brands like MTV, Seventeen Magazine, India and Celebrity Marketing Agency.
The notion of bringing personalization into the ecommerce industry inspired Preeta to become an entrepreneur. Her startup, The Label Life, is a one-stop online destination for independent Indian women wanting a curated mix of clothing, accessories, home décor and much more. And the specialty of her startup is that products of each category are curated by celebrities known for their taste in fashion and lifestyle sector.
Please provide a brief overview of your product/service.
TheLabelLife.com is a destination for independent Indian woman wanting a curated mix of clothing, accessories, home décor, and much more. It is a tastemaker-led e-commerce portal that has three celebrated Style Editors for each category. They are Sussanne Khan, Style Editor- House and Home, Malaika Arora Khan, Style Editor – Clothing, and Bipasha Basu, Style Editor – Accessories.
They curate signature every day that are essential for the home and closet. The aim is to provide users with an editorial experience whilst shopping for trend focused pieces. Each product has a story and a reason to exist. Moreover, we won’t upload just a product image of, for example, Pineapple Jars. Instead, we show our customers how to style and use that product giving it a reason to become a part of their everyday life.
What inspired you to build the above product/service?
My aim was to marry content with commerce and give users a personalized shopping experience. The e-commerce industry has and will continue to grow with leaps and bounds, but I was of the opinion that personalization was something that was missing. I wanted to fill that gap and provide users with India’s first editorial e-commerce brand. We do not want celebrities to endorse our brand. Instead, we want experts in the field to style and curate products. We are a taste-maker led e-commerce store.
To simply this, as a consumer if someone like Malaika Arora Khan, who has a great sense of style, told me to buy a particular white shirt, I would pick that over a Google searched answer.
What is your life mantra?
“I have not failed at all but learnt a million times.”
What was the most challenging part of your journey till now?
When we started TheLabelLife.com, we had no experience in e-commerce or retail.
How did you overcome those challenges?
I think it made us work harder, but also learn faster. So overall, it was a plus in the long run.
Share some details about the investments that you have been able to fetch for the business till now.
We got our pre-Series A funding through Kalaari Capital in 2013 when we launched our first brand TheHomeLabel.com. And since then we have been working closely with mentors to keep going, by strategically managing cash flow and launching collections that are unique and competitively priced.
How do you protect yourself from the problem of Brain Drain?
We have a very friendly and flexible environment at work. There are no hierarchies and everyone is very approachable. Being a startup and a relatively young team, everyone is dynamic. We ensure that we have regular brainstorming sessions. We keep an environment of open communication and give feedback and do everything we can do constantly motivate people. As said above, we maintain a flexible work environment. Also, the learning curve for individuals is high due to the small team. Our attrition rate is negligible compared to the e-commerce market.
According to you, what are the three qualities an individual must have to achieve success?
Hard work, dedication and curiosity.
Which online tools/ services/ apps do you use the most and would like to recommend as well?
I love Buddhify.com. It helps me relax. Instagram inspires me. Also Trello! The entire team here uses it.
Share any one habit which you think makes you more productive.
Spending almost all my office time with team, sharing and brainstorming; and spending all my quiet time at home with my daughter. I have also maintained a diary since I was a teenager.
Share any one habit which you wish to change in yourself.
My “subbing” eye. I spot typos easy and that makes it tough to read almost anything these days.
Answer in less than 50 words
Hire (and retain) a team made up of individuals you know are brighter than you are.
- One mistake you believe every individual must avoid:
None. I truly believe in the mantra I regaled above.
What are your plans for next 3 years?
I hope we break conventional ways of doing e-commerce. I want to create a personalized shopping experience with an engaging User Interface. We want to inspire the urban Indian Women in making all the right shopping decisions. We might expand our categories and venture into newer ones like furniture and beauty.
If you get a chance to start your career again what would you do differently this time?
Nothing at all
What are your top three getaway destinations?
I’m an advanced diver. So almost any destination by the sea
Share a quote that inspires you the most.
“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” – Steve Jobs, co-founder and CEO of Apple.
“She woke up every morning with the option of being anyone she wished. How beautiful it was that she always chose herself” Tyler Kent White