Would love to make a mark on foreign shores, says Meena Bindra of Biba Apparels

Success Quotient is a weekly feature that appears every Friday on Firstpost, which looks at the pains and joys en route to success for a head honcho - whether a CEO, MD or an entrepreneur. The column looks at the ideas that helped launch a company, its highs and lows. When Meena Bindra, founder and chairperson of ladies fashion wear, Biba Apparels, found a lot of time on her hands, she wanted to start a venture. The 71-year-old’s start-up efforts began in the interiors of her home during the hours her husband was away at work and the children in school. Prudence has characterized each of her business decisions since then. Bindra tells Firstpost the benefits of her cautious approach to business and life. Excerpts from the conversation: [caption id=“attachment_2425872” align=“alignleft” width=“380”] Meena Bindra, founder & chairperson, Biba[/caption] What led to your starting a business of selling garments from home? I guess I had the entrepreneurial streak from my father who was a very successful business contractor. I was in love and married a naval officer, Rear Admiral Satish Bindra soon after I graduated from Miranda House, Delhi. A person working in the defence sector does not earn enough to afford beyond the necessities of life. I was able to empathize with the retired armed forces personnel who were recently agitating in Delhi for implementation of the OROP scheme (One Rank One Pension). The services sector provides good accommodation and one moves around the country every three years. It is an interesting life but there is no money in it. The government does not pay well. I did not have any qualification in fashion designing, but I realized quite early that it was my forte. So I got into the business of making and selling salwar kameez, an outfit I was knowledgeable about. When I decided to start my venture, my husband was very supportive of the idea. He got me a bank loan of Rs 8,000. Thankfully, neither my husband nor I had any expectations from the business. Of the loan money, I spent Rs 4,000 and saved the rest. I outsourced everything – a block printer made the prints I wanted on 40 cotton salwar suits, 3-4 tailors executed my designs on the fabric and I was able to sell all the finished garments. The success of the first sale led to another and it set the skeins of entrepreneurship rolling smoothly. I must admit now to a sense of disbelief at first which was accompanied with, Oh! That was very good.  I came away with this feeling that I could handle this business venture. I felt freer after I was able to pay off the bank loan in three months. What do you think made your venture a hit with customers? When I started out, fashion wasn’t the buzz word as it is today. There were hardly much choice of fashion in ethnic apparel. I have a good sense of design and style and my creations reflected that. Besides, I think the way I treated my potential customers made them comfortable with me. I was clear that no customer should be forced to buy my clothes just because they came to see it in my house. They were given the option to return the outfit if they did not like it even after they had bought it. This was not a planned strategy, but it worked with my customers. I was enjoying the business process myself and that makes a difference to any activity that you are involved in. I loved travelling to wholesale markets in Mumbai, sourcing fabric, talking to people connected in the business and meeting up with women at home who came to buy the clothes. In this new venture I forged a lot of friendships. I enjoyed that a lot more. From a home-bound business to becoming a brand at a leading high street fashion store in Mumbai. How did that happen? Later, that association fizzled out too. To me that was the high-water mark in my journey as an entrepreneur. A customer who came to my house knew someone at Benzer, the fashion store in Mumbai that was then planning to stock Indian women’s wear. My customer recommended my work to Benzer. The team at Benzer saw my work and gave me my first big order and several orders after that. This order gave me insights on how to do business. I learnt to be professional and make deliveries on schedule and to keep a bill book. I was forced to have a brand name. Biba was born in half an hour! I was happy with the name as it is a term of endearment in Punjabi for a young girl. I was designing salwar kameez and that name synchronized well with it. It is also easy to pronounce. Later, when I got another order from another big store, Benzer did not want me to take that up and insisted that I work exclusively for them. I had to turn down their suggestion even though the association with Benzer accounted for 70 percent of my business. I was confident that my work would get me orders from other stores. I went along with my gut instinct to be independent and not be tied down to anyone. What changes did your flourishing business bring to your life? I was able to buy property with my money. I bought two offices in Kemps Corner and a small apartment in Worli. The first thing I bought for the home was a colour TV and later, air conditioners. I love old silver, jadau jewellery and antiques, too. But I am not a spendthrift. With regard to my clothes, I have always worn my brand. I make my own mix and match wear and coordinate my outfit with a dupatta or a stole. The noticeable change, if any, is that I buy paintings. I am not a collector though. It is a good feeling to be able to afford what one likes or wants to buy. You have a team of designers at Biba. Have you stopped designing? I stopped designing at Biba 16 years ago. As the business grew, we had to hire a team of designers. However, I still give my inputs. I also design a few outfits. I am very partial to people in my age group and constantly think about fashion that they can carry off. I see to it that elegant understated fashion is designed for them. My work became quite light after my sons came into the business. When my elder son Sanjay joined me, he took a huge load off me. I was then able to concentrate only on the designing front. Later, he sold off his stake in the company. My younger son Siddharth is the MD now. He wants to take Biba to an entirely new level from the current turnover of Rs 400-450 crore. What are your plans for Biba? Siddharth takes care of the business aspects. I would like Biba to be a global brand. With Indian fashion popular across the world, it would be wonderful for Biba to have an identity in foreign shores. With business being run by Gen Next, how do you spend your free time? I take daily walks, listen to music, travel a little and love meeting with friends. In Mumbai, I unexpectedly came across a book; I am that, at a book store. That led me towards spirituality. I meditate and read a lot of books on spirituality. I am happy that I was able to provide employment to many people. I am grateful for how my life has turned out.