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In his backyard, a brilliant Gujarati created ‘Sabki Pasand Nirma’

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In the 1980s, Karsanbhai Patel, the founder of the Nirma brand, utilised a catchy song and a little girl to attract India’s attention. This jingle, as well as the advertisement portraying a young girl in an immaculate white dress, is highly familiar even today.

Hindustan Unilever Ltd’s ‘Surf’ brand enjoyed complete domination over the Indian detergent market in 1969. It cleansed stains from your clothes without injuring your hands, and it was better for your clothes than a conventional bar of soap. The cost, on the other hand, was a huge stumbling block for middle-class families who couldn’t afford it. Karsanbhai Patel, a chemist at the Gujarat Government’s Department of Mining and Geology, was interested in breaking into this sector.

Nirma was India’s cheapest branded washing powder at the time, costing only Rs 3. Nirma was named after Patel’s daughter, Nirupama, who died in a car accident. He’d go from house to house in each neighbourhood, promising a “money back” guarantee on every package he sold.

Nirma washing powder was performing well in Ahmedabad, so Patel decided to spend some money on a television commercial. Nirma became an instant hit thanks to the catchy song, which said that she was “sab ki pasand” (everyone’s pick). Patel soon quit his work and chose to devote his full attention to this business.

Customers raced to local markets to buy washing powder, but Patel had cleverly withdrawn 90% of the supplies in order to keep up with demand. Customers watched the advertisement for approximately a month, but when they went out to buy the washing powder, they came back empty-handed.

Nirma detergent became the most popular detergent that year, outselling Surf by a wide amount. Retailers pleaded with Patel to restore supply, and he did so after a month, flooding the markets. After this excellent decision, Nirma was able to maintain its production and sales for a decade.

Nirma began as a detergent in 1993 and now has a 20% market share in soap cakes and a 35% market share in detergents. While the market’s obvious ups and downs had an impact on the product, Patel was unconcerned because he had decided to offer toilet soaps, beauty soaps, and shampoos. Some goods were a hit, while others failed miserably, but the Nirma brand never lost its hold on the market.

Patel has received numerous major accolades, including the Padma Shri in 2010 and a spot on Forbes’ list of India’s wealthiest people (2009 and 2017). He claims that his desire to keep the firm going stems from his love for his late daughter. He is now a legend in the entrepreneurial fraternity, undeterred by his lack of a management degree, unafraid to take on great names, and armed solely with a sharp business sense and a creative intellect.

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Business

Facebook to rebrand the company ‘Metaverse’

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Facebook is the world’s largest, and arguably most influential, social media platform, with more than 2.8 billion monthly active users and a net worth as of now of $1 trillion.

It’s safe to say that the majority of our lives rely on Facebook. Recently, Facebook, the parent company of Instagram and WhatsApp, hit the headlines when it went dark for six hours, causing havoc all over the world.

According to a report by The Verge, Facebook is planning to rebrand the company with a new name to focus on building the metaverse. Metaverse, as the term suggests, is a virtual-reality space in which users can interact with a computer-generated environment and other users.

According to the report, CEO Mark Zuckerberg will reveal the company’s new name on October 28 at the annual Connect conference, but it could be announced sooner.

Facebook, which aspires to be renowned for more than just social networking, revealed on Sunday that it will hire 10,000 people in Europe over the next five years to help construct the metaverse, which the corporation regards as critical to its long-term success.

In July, Zuckerberg said that Facebook’s future lies in the virtual metaverse, in which users will live, work and play inside.

Facebook already has more than 10,000 employees who build consumer hardware like AR glasses that Zuckerberg believes will be as ubiquitous as smartphones.

The company wants to be known as much more than a “social media” company, and is promising to change the way humanity interacts.

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One to lookout for: Rakesh Jhunjhunwala invests in a furniture startup!

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Rakesh Jhunjhunwala, often referred to as India’s own Warren Buffett, is an ace investor with a track record of successful investing. Many treat him as a bellwether, and look to him for guidance and inspiration when it comes to navigating the vagaries of the investing landscape. And so, it would be of interest to investors to know that India’s Big Bull has out his money where his mouth is and invested in a furniture-based startup, Arrivae.

What is Aarivae?

Founded in 2017, Arrivae is a customized full home interior solution provider that enables customers to get the house customers want. From designing the finest homes by some of the finest architects and interior designers to material supplied by some of the most credible vendors. It specializes in providing practical solutions for various situations. Arrivae works in four simple steps; meeting the designer, designs made for customers, intelligent manufacturing and lastly concierge services.

Arrivae raised Rs 50 crore in its first round of external funding, backed by ace investor Rakesh Jhunjhunwala. Enam family, Siddharth Yog (Founder, Xander Group), Anand Jain (Chairman, Jai Corp), Harsh Jain (Founder, Dream 11), and Ramesh S. Damani (Chairman, DMart) all participated in the fundraising round.

“At Arrivae, we’re still in the early phases of our plan to build India’s most comprehensive home renovation ecosystem. Partnerships are important to us at Arrivae because they help us build brand confidence in the ecosystem, especially among customers.” said founder Yash Kela.

Kela rounded things off by saying, “All the veterans who have participated in this round will enable more faith in the Arrivae brand.”

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The right pricing will be crucial for the launch of Zydus Cadila’s vaccine.

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The destiny of Zydus Cadila’s Covid vaccine is in doubt, as the vaccine’s price appears to be delaying its introduction into the vaccination program. The business has received emergency use authorization from the FDA to inject its Covid vaccine, ZyCoV-D, to children aged 12 to 18.

Zydus Cadila, located in Ahmedabad, has imported the pharmaJet, a needle-free applicator for painless intradermal vaccine delivery. 

Each jet is responsible for delivering a specific amount of vaccination. 

As a result, a single dose is split into two shots, one for each arm. “It’s an expensive device and hence jacks up the overall price,” a government official said.

Around 20,000 dosages can be administered with the jet injector.

The government has been purchasing Covaxin at 225 per dosage and Covishield, another Covid vaccine developed in India, at 215 per dose.

The price of the Zydus Cadila vaccine, according to Health Secretary Rajesh Bhushan, will be significantly more than that of existing vaccines.

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