Pearl Academy student sets his eyes on the maternity wear market in India with his business idea ‘Assuage Mom’
July, 2015, New Delhi: At any given point in time, there are 17 million ready users accounting both pregnant and nursing mothers in India. However – this market segment, which is growing at an annual rate of 17% every year, has been largely untapped.
“‘Assuage Mom’ targets the need of nursing Indian mothers, offering them a wide range of stylish and comfortable nursing clothes,” said Kartik Verma, a Level 3 Fashion Business Management student, about his award winning project which saw him outshining candidates from 16 countries to bag the top spot and a low interest loan of $50, 000 to launch his brand in India. Kartik won the 2015 edition of prestigious Global James McGuire Business Plan Competition held in Miami, Florida (USA), recently. The competition promotes entrepreneurial spirit among students.
Based on an extensive market research, ‘Assuage Mom’ was conceptualized offering:
- Functionality – comfort and ease
- Fashion sense – stylishly designed for the modern day multi-tasking mothers
- Use of organic and eco-friendly fabrics
Kartik aims to kick-start his project by manufacturing the garments in his father’s factory. The marketing and distribution of the apparel will be done through various online portals through synergistic tie-ups. Special concessions will be given to companies that support the cause of providing comfortable attire to nursing mothers.
Sharad Mehra, CEO, Pearl Academy, said, “It is a proud moment for all of us that Kartik has brought such a laurel to the Academy. We have always strived to provide our students with numerous opportunities to showcase their talent at prestigious national and international platforms. We have been imparting the requisite skills, knowledge and confidence in our students to follow their passion and become successful entrepreneurs. A lot of our alumni have started their ventures during or after the academic years at Pearl and many of them are very well established in the industry. With this accolade earned by Kartik, Pearl Academy hopes to continue the winning streak at other international competitions too. We wish Kartik the best for his future endeavours!”
Kartik has also received offers from IIM, IMT Ghaziabad, IMI Delhi, SP Jain Mumbai and SP Jain Dubai, to pursue higher studies. Kartik has decided to launch ‘Assuage Mom’ instead and pursue his dream to launch his own venture with the funding received. “This is just the beginning and I am really blessed to get such an appreciation and support for my idea. My vision is to supply eco-friendly, environmentally sustainable mother care and baby care products globally”, said Kartik about his future plans.
About Global James McGuire Business Plan Competition
The Global James McGuire Business Plan Competition promotes the entrepreneurial spirit among students at Laureate International Universities Network institutions. Douglas L. Becker, Chairman and CEO of Laureate Education, Inc., created the competition in 2007 to honor James H. McGuire, a former member of Laureate’s board of directors. This competition has two categories – one for undergraduate students and the other for working adults, graduate students and recent alumni. The team with the best business plan at each participating network institution receives an award established by the local institution. The top six teams in the network (three undergraduate and three graduate/alumni/working adult teams) are invited to a global competition, which takes place at the Annual Laureate Leadership Summit.
About Pearl Academy
Founded in 1993, Pearl Academy is India’s largest private institution in design, fashion and creative businesses, which has helped shape the business and creative landscape of these industries over the past 21 years.
Driven by a commitment to create adaptable and highly sought-after graduates, Pearl Academy ensures student-outcomes are the center of every initiative. A high-caliber and experienced faculty, each equipped with Post Graduate Certificate in Higher Education (PGCHE) in Pedagogy from NTU, UK, helps deliver on this promise.
Backed by the resources and expertise of a global network of renowned institutions such as London College of Fashion, Nottingham Trent University (NTU), Domus Academy (Italy), and NABA (Milan) among many, Pearl Academy is able to ensure that in today’s accelerated world, Pearl students are able to achieve their personal goals by becoming game-changers and achievers.
Pearl Academy delivers over 30 uniquely designed under-graduate, post-graduate and professional programs through its 4 campuses in Delhi, NOIDA, Jaipur and Mumbai, and has close to a 100% placement record.
Pearl Academy is a member of the Laureate International Universities network, which has a presence in 29 countries, serving more than 1,000,000 students.
For more information, please visit: www.pearlacademy.com