22-year-old Panasha Siotia was often complimented by family and friends for her unique sense of styling her jewellery pieces with her attire. After completing her Graduation in Economics from Symbiosis Pune, the Delhi resident decided to plunge into entrepreneurship in December 2020 and see where her love for artificial jewellery takes her.
In an interview with SheThePeople, the Founder of Parati tell us, “I have a separate space at my place for this. I wake up at 6 am, get ready for my first session of Facebook Live where I showcase my jewellery pieces, take orders and start working on dispatching them along with my mom”, she shared.
Parati is a Spanish word that means ‘For You’. Through her venture, Panasha aims at selling surreal pieces of jewellery crafted with a traditional Indian approach and a uniquely satisfying delineation. She says her venture lets today’s women make bold statements through subtle and minimalist ornaments. “I am resourcing the jewellery from different parts of the country. However, I plan to hire designers for my start-up in the future.”, she says.
Entrepreneurship journey and lessons learnt
“Entrepreneurship isn’t for the faint-hearted. People want the latest stuff in the market and as an entrepreneur, I need to cater to their demands. I have clients who reach out to me with the smallest of complaints and I have to greet them with a smile. This is how entrepreneurship functions”, she explains.
Talking about what it takes to be an entrepreneur, she says, “My life revolves around social media. I don’t get weekends off. It has taught me to be responsible and punctual. It has also taught me the importance of building personal relations with someone. Each client comes with a unique mindset. I have to understand that and provide them with what they want”
Young age, she believes, is an advantage. “We can be moulded easily. We are open to technology and constant learning. We are yearning to prove ourselves and achieve whatever we can”, she says emphasising that entrepreneurship is specifically empowering for women as it gives them the freedom to earn their own money and manage their time as per their schedule. They are not answerable to anyone. “Not asking for money from husband, brother or father and relying on your own funds is the most empowering thing for any woman”, she says.
Panasha calls the pandemic a blessing in disguise because it compelled people to buy products online and that’s how her business flourished in a very short span of time. Panasha started with an investment of Rs.3 lakh which she took from her parents. She is now earning a revenue of Rs. 9.5 lakh per month.
She also takes a lot of pride in the fact that she makes it a point to dispatch the orders within 24 hours of their placement. Google Pay, she says, has been an integral part of her journey as it is used extensively by her to receive and make payments.
Panasha shared how it took her some time to understand how demand of jewellery pattern changes. “Initially I wanted to keep myself western and not indulge in Indian designs. During festive season, on karwachauth or a wedding, people want to wear traditional wear. We shifted our niche in Indian wear to cater to that demand.”, she explained.
Panasha aims to pursue her Masters in Luxury Brand Management from Mumbai soon. She feels that the knowledge acquired through the course will help her expand her venture Parati. She also plans to hire expert designers who create unique and original designs for her venture.
Here’s wishing Panasha the best with her big plans.