Her experience and proficiency have acquainted her with every sphere of the lifestyle industry. Journey of Soumya Jain from a Bachelor’s Degree in Journalism to launching a startup called LuxuryFacts is highly inspiring. Understanding and covering the luxury industry is a passion for Soumya. She genuinely believes that the luxury industry has a huge potential to grow in India and that the online medium has a very important role to play here.
Thus, she started LuxuryFacts in April 2010. LuxuryFacts is an online luxury magazine, which lets readers retreat into the glamorous, exciting and heritage world of luxury across all sectors. LuxuryFacts also encourages discourse on how luxury brands can grow and increase their presence in certain markets. Prior to LuxuryFacts, Soumya was an editorial member for the magazines MillionaireAsia India and Asia-Pacific Boating India.
Please provide a brief overview of your product/ service.
LuxuryFacts is an online luxury magazine giving news, reviews and features on luxury brands and services across all sectors – whether it is fashion, travel, watches or automobiles. How we differentiate from other similar publications/blogs is that we highlight the inherent quality and craftsmanship of the product/service, rather than reporting it from a celebrity angle or a ‘who wore what’ aspect.
What inspired you to build the above product/ service?
Seeing a lack of credible, knowledgeable coverage on luxury in Indian media, I started LuxuryFacts.com
What is your life mantra?
Live, and let live!
What was the most challenging part of your journey till now?
While there is acceptance of online media and blogs in a very encouraging way, luxury brands still have qualms and doubts about collaborating with online media through advertising, marketing projects, etc. They still prefer to largely bet their money with established print magazines still.
How did you overcome those challenges?
The challenges have ended – it’s a slow, educative process, and will take a while for the mindset to change.
Share some details about the investments that you have been able to fetch for the business till now.
Fortunately, LuxuryFacts has been able to manage organically. We haven’t taken loans or venture capital. We have earned and put it back in the business.
According to you, what are the three qualities an individual must have to achieve success?
Perseverance; ability to adapt; and eye for perfection.
Which online tools/ services/ apps do you use the most and would like to recommend as well?
I use a lot of social media apps – and I guess everyone already uses them! It’s hard not to be on social media and run a business effectively.
Share any one habit which you think makes you more productive.
Having a disciplined routine.
Share any one habit which you wish to change in yourself.
I always think first like an editor/writer. At times, I have a problem putting the marketing/sales cap and thinking accordingly. I wish I could change that!
Answer in less than 50 words
• One tip to success:
• One mistake you believe every individual must avoid:
Losing faith. Believe in yourself and your ideas even when things are going south.
• One most important lesson that you have learnt till now:
Effective communication is important.
What are your plans for next 3 years?
We have already started expanding in America. Hopefully, in the next 3 years, we will not only look at more locations but also see more diversification’s for the business.
If you get a chance to start your career again what would you do differently this time?
Nothing. I am happy with where I am!
What are your top three getaway destinations?
Home, Home, Home
Share a quote that inspires you the most.
“In order to be irreplaceable one must always be different” – Coco Chanel