IndiaRetailing brings you a series in which we highlight the brand icons in India’s thriving fashion and lifestyle industry. Today, the spotlight is on Mayank Mohan
No business can survive for long without a vision; even if it does, it would be susceptible to every disruption and upheaval that generally comes in its business cycle. It needs a leader who has the capacity to translate, create that vision, or make it clearer and turn it into reality. The very essence of leadership is having a vision in the first place. Moreover, as you can’t blow an uncertain trumpet, it should be clearly articulated so that they can manage and lead people. A team led by a visionary leader with a clear direction knows what it can achieve and how far it can go.
In this special feature, IndiaRetailing highlights the brand icons in India’s thriving fashion and lifestyle industry. Today, the spotlight is on…
Education
B.A Honors in Economics and Business
Career history and experience
Worked in the past as a strategy consultant with Deloitte USA. Currently, heading Mohanlal Sons, India’s oldest retailer. Since joining business in 2007, I have expanded footprint from 1 store in Delhi’s CP to 26 company-owned and -operated stores spread across 16 cities.
Role and responsibilities
I am a fifth generation entrepreneur. So I’m involved with virtually all aspects of the business, including business development, marketing, strategy, sourcing, production and HR.
Strengths
Strengths:
• Focused
• Ability to adapt
• Multi-tasking
Weaknesses:
• Risk averse
• Conservative
• Sometimes get too caught up with operations
Aspirations you want to fulfill
I want to build on the legacy of our 141-year-old brand, Mohanlal Sons, and make it the most respected and trusted player in men’s celebration wear.
Game changing retail technologies
• Endless Aisle
• Automating Supply Chain using AI/ BI
• Personalized Communication to Customers
Skills that helped you succeed
Ability to keep focus, maintain clarity of vision and not panic, no matter what is happening around you (Covid, Recession, etc).
Learning from your career
Only sustainable businesses that have strong fundamentals will succeed in the long run.
On the future of industry
I believe that the future of both the fashion industry and retail sector is very bright. India is the fastest growing major economy in the world and the industry currently is mostly unorganized. This provides a big opportunity for growth in the short/ medium term to fundamentals sound organized players.
Any role model in the industry
I take inspiration from all business leaders, but have no role model as such.
If you had to pen down your top 3 learnings from your career
• Make sure your business fundamentals are sound and profitable.
• Positive cash flow will be the key to survival.
• Decisions should be taken keeping customers and employees at the center. If both these stakeholders are happy, then success will surely follow.
Life mantra
Be thankful for all that God has given you. Give back to society as much as possible.
